DBAG reports NAV increase in Q2 2020

Total NAV for the period was €405.1m, compared with €359m at the end of March 2020, which it attributed to capital market volatility due to the coronavirus pandemic.

The firm's quarterly statement issued at the end of March 2020 reported a 20% drop in portfolio NAV from the prior quarter, as reported.

The GP said in a statement that it expects NAV in the next quarter, ending on 30 September 2020, to be €400-425m.

The investment period for DBAG's latest fund began at the start of August 2020, according to the same statement. DBAG Fund VIII held a final close in May 2020 on €1.09bn. The fund expects to deploy equity tickets of €40-220m, focusing on DACH-headquartered businesses with enterprise values of €75-250m. The fund will target companies operating in telecommunications, industrials and healthcare sectors.

The GP's 28 portfolio companies have made nine add-ons in 2020. These have included add-ons for its telecommunications portfolio companies Vitronet and Deutsche Infrastruktur- und Netzgesellschaft Group.

DBAG's fund investment services reported a result of €6.6m before taxes, up from €1.6m in the same period in 2019, and the GP expects the result to be €8-9m in the next quarter, based on its current financial forecast.

The firm expects income to be -€25m to -€5m for the 2019/20 financial year.

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• Deutsche Beteiligungs AG