Deutsche Beteiligungs AG: Positive Valuation Uplifts Expected

Deutsche Beteiligungs AG (DBAG) has been rated as a "Buy" by NuWays AG. At the end of Q3, DBAG’s net asset value (NAV) was €626 million, a slight decline year-over-year, yet within the expected annual guidance. A significant factor this quarter was a €19 million portfolio valuation increase, largely due to the duagon exit.

The company aims to divest approximately 20% of its NAV over the next year, expecting a valuation uplift of 15-20%. This activity could result in additional income and excess cash distributions. Despite challenging market conditions, these plans highlight the company's strong operational foundations.

DBAG’s shares continue to be valued attractively, with a share buyback program in progress. The company offers a base dividend with a 4.2% yield. High deal activity and potential valuation uplifts are anticipated to act as catalysts for share price improvement in the next 12 months.