Thursday 26 March 2015

DBAG annual report 2014

DBAG, annual report, 2014, front page

This was one of those moments... When I did not follow up as I should have done. The report has been around for a long time and I have simply failed to report on it. I thought that I read it and I am certain that I read about their decision to shuffle out money to me which made me pretty excited and therefore I assume that also the market got excited upon the release of the report. What was then in it?

To read the full report please go here (and please make sure that you are viable for this information) and to see my previous report please see DBAG report Q3 2014 or why not Deutsche Beteiligungs annual report 2013 and if you want to find out a bit more about DBAG then please click on this link analysis of Deutsche Beteiligungs AG (DBAG) 2014.

Since I am dog tired and the company did very well this summary becomes short. Below is the financial statement and there we see that they improved their "revenue" by 27% which is excellent! The personnel costs have increased a bit too much for my liking and I hope that this will not be a continued trend! In the end they had a profit of around 41 million € which is almost 3.5 € per share. This made the keep their ordinary dividend of 0.4 € per share and they decided to give an extra dividend of 1.6 € per share, so 2 € per share in total. That seemed to have been shifted out yesterday...

DBAG, 2014, annual, financial statement

Conclusion: DBAG keep performing very well both with the result from the improvements of the company they step into as well as the price they receive when they sell the companies. Lately the share price have started to catch up a little. I will of course remain as a shareholder even though their annual reports and homepage has become more flashy which is a bad sign in my book.

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