DGAP-News: German Startups Group GmbH & Co. KGaA: German Startups Group revaluates certain holdings in its portfolio
DGAP-News: German Startups Group GmbH & Co. KGaA
/ Key word(s): Forecast
+++ Press release +++ German Startups Group revaluates certain holdings in its portfolio - Write-down of Ceritech and mark-up of two focus investments - Profit expectation for 2019 within the previous range - High cash and cash equivalents position
Several other portfolio companies, especially two of its focus investments of German Startups Group, have shown very favorable developments in the meantime, so they have to be marked-up per 31 December 2019 (IFRS). In total, the profit expectation (IFRS) for 2019 stays within the range of 3 to 5 million euros as published in December, though, likely to be in the lower half or between 0.27 and 0.35 euros per share. This equals an equity per share as per 31 December 2019 of roughly 2.70 to 2.80 euros per share (IFRS). The balance sheet items cash and current financial assets alone may make up more than 1.00 euro per share already as per 31 December 2019 and should increase noticeably through planned divestments of stakes. From sales of stakes in 2019, German Startups Group holds cash and cash-equivalents amounting to two thirds of its current market capitalization and in addition still holds a broad portfolio of promising investments in young German tech growth companies, such as AuctionTech, Fiagon, Mister Spex, Remerge and Simplesurance. The management furthermore focuses on divestments, with four cases having already substantiated. Management does not plan re-investments of capital gains in shareholdings within the Venture Capital stage after it has taken note of the share price being penalized by the capital markets within the last years due to the limited transparency of the financial data of its portfolio companies, leading to a significant discount on the Net Asset Value (NAV) per share. As long as the share price is significantly lower than the NAV per share in the eyes of the management, it wants to use sale proceeds for further share buybacks of its own shares, subject to approval of the supervisory board, and fully exercise the legally permitted volume for the use of own shares under exclusion of subscription right. Share buybacks have become even more attractive due to the share price drop for the corona virus. German Startups Group's management looks very confidently to the further year 2020. German Startups Group More information is available on our website at www.german-startups.com.
10.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | German Startups Group GmbH & Co. KGaA |
Platz der Luftbrücke 4-6 | |
12101 Berlin | |
Germany | |
Phone: | +49 (0)30-54908603 |
Fax: | +49 (0)30-54908604 |
E-mail: | [email protected] |
Internet: | www.german-startups.com |
ISIN: | DE000A1MMEV4 |
WKN: | A1MMEV |
Indices: | Scale 30 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Tradegate Exchange |
EQS News ID: | 993617 |
End of News | DGAP News Service |
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993617 10.03.2020