Deutsche Beteiligungs AG (XSWX:DBAN)

Q3 2025 Deutsche Beteiligungs AG Earnings Call Transcript

Nov 6, 2025 / 10:59 AM GMT

Transcript

Key Points

Positve

Deutsche Beteiligungs AG (WBO:DBAN) achieved a significant valuation uplift with the sale of Duagon, marking a strategic success.
The company invested an unusually high amount of 148 million in private equity and private debt over the last 9 months, indicating strong investment activity.
The IT service sector now constitutes 20% of the portfolio, with successful acquisitions like Mite, showcasing growth in this area.
The company continues to distribute nearly €1.8 per share to shareholders, maintaining high distributions.
The sale of Duagon has positioned Fund 7 into carried interest territory, indicating a successful fund performance and potential for further fundraising.

Negative

Group net income is currently on the low end, indicating potential financial challenges.
The NAV per share has not moved significantly, impacted by distributions and buybacks.
There is a risk of transaction slippage into the next year, affecting visibility and planning.
The operating performance remains challenging for a large part of the portfolio, despite positive valuation changes.
The company faces a potential concentration risk, although it is being managed through strategic fund management.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DBANn.DE - Deutsche Beteiligungs AG
Q3 2025 Deutsche Beteiligungs AG Earnings Call
Nov 06, 2025 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Very warm welcome also from our side. Actually, today I'm joined not only for by Matthias Stoll, whom you know quite well, but also by, Brigitte Friedrichk. Brigitte is new on the board. She's, chief of staff to our, executive board, and also will take over shareholder relations from, Matias going on forward. You want to say hello, Brigitte? Hi, everyone. Looking forward to work with you.

Jumping, straight away to page 3, we are happy to provide quite an eventful quarter, in terms of realizations and also, deals.

Obviously, the sale of Duaggon, is a significant highlight for us given, the importance for the portfolio and also the valuation uplift we achieved. We'll come to that with a bit more granularity later

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