Friday, April 17, 2015

DBAG report Q1 2015

DBAG, Q1, 2015, report, front page

DBAG with their broken year managed to push out their Q1 report some time ago. Since they announced their dividend the share price has run amok and they have even managed to pay it to their devoted shareholders. What was in the report?

As always please make sure that you are viable to read the report that can be found in full here. To read the previous summary please go to DBAG annual report 2014 or why not visit the analysis of DBAG 2015.

The report were thicker than usual which I never like. In this case it is based on them changing the reporting slightly and also the interim reports now follow IFRS. A large part of the report therefor focused on the changes that it caused and comparison where made not only for this first quarter but also based on previous quarters. I found it to be well written and instructive so that everyone could understand. I therefore urge you, if you are a shareholder, to read this Q1 report.

I will only offer the highlights on the silver plate this time and it can be seen below. They have managed to find a new investment to jump into so this will hopefully be good news! They have hired more people which I find bad especially since they earned less in their advice function. If you hire more people then you should also have higher revenue and not less! So that looks like a bit of a failure. The equity has increased, which is good news but the bull is running so most investments tend to increase in market capitalisation. I almost wrote value instead of market capitalisation but that would be the wrong word to use. Still they report that they earned 0.97 € per share which to me sounds very good.

DBAG, Q1, report, 2015, highlights

Conclusion: DBAG have had a great start of the year. The increased dividend announcement made the stock hot on the market and the share price increased to silly levels in no time at all. Even after paying out the 2 € per share in dividend they have more or less jumped up to where they were before the dividend payment. Crazy! I like DBAG and I will remain as a shareholder.

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