Thursday 26 June 2014

Deutsche Beteiligungs AG (DBAG) report Q2 2014

DBAG, front page, Q2, 2014
My only investment and holding company arrived with their Q2 report for 2014 and here is the summary of what I found in this publicly available report. The share price did not move much either on the day of the report or any other day this quarter for that matter. The biggest movement this year was simply when they paid out the dividend and the share price dropped with an equal amount.

Here you can find the Q2 2014 report in full from Deutsche Beteiligungs AG on their homepage.

The only thing that I will add here is the financial highlights as can be seen below. What when looking on the half year running is that they are currently more careful with investments and only 5 millions have been spent compared to 14.4 last year.
As they have mentioned themselves they currently have several investment that are in the early stage of development which is probably why they start to decrease the investment rate besides from being low on cash. Their invested value has jumped up dramatically which they state is mainly due to the development of their Homag investment.
The earnings per share is in line with last years developments and I hope that it will become well above 2 € per share so that I can once again collect a nice dividend in 2015.

DBAG, Q2, 2014, financial highlights

Conclusion: DBAG is doing well. Their investments are developing nicely and especially Homag seems to develop much faster than what they had expected. At least I assume this since they keep mentioning it in their reports. The share price of DBAG has not made any major developments which meant that I could step in and buy some more shares at a price that I still consider to be cheap. I know, I know a lot of you disagree with my thoughts about investment companies and how I analyse them but still... we all do it our way and there is no real right or wrong besides from decisions that are purely speculative and running with the herd.

Go here for the previous analysis of Deutsche Beteiligungs Ag (DBAG) 2014

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