DBAG hails "one of the most successful years" in 2017 results

DBAG expects to pay a dividend of €1.40 per share, equating to a 26.5% return on equity per share.

The GP said it was one of the most successful years in the company's history and puts this down to successful exits from Fund V and Fund VI. The firm divested FDG, Formel D, ProXES and Romaco from Fund V, and Schülerhilfe from Fund VI, for an average capital multiple of 3.8x.

DBAG co-invests alongside its LP funds in all of its private equity transactions as its main source of income (€85.7m). It also charges a management and advisory services fee, which accounted for the other €4.7m.

Torsten Grede, a spokesperson for the management board, admitted that part of the success was due to an increase in capital market valuations. However, he pointed out that DBAG cannot escape the higher price level and claimed the firm was rising to the challenge with an "entrepreneurial approach".

DBAG expects net income to rise significantly again, by at least 20%, for the next two years.

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