The Q1 report 2014 from DBAG went by pretty unnoticed by the market but since I am a shareholder I took a slightly closer look at it.
To be honest nothing has happened in Q1 2014. They have made no new investments. They did not back up any of their old investments with extra money and the net created (around 12.5 million €)comes mainly from increased value of their investment as can be seen in the highlights below. The report in full can for all that are allowed access to it be found here.
They also made a minor change and decreased the work force. The most impressive thing is the difference from one year ago. That they now have three investments more so 20 instead of 17 and not only that but also that the invested value is so much higher from 123 million € to 188 million €.
Conclusion: No change in fundamentals, nothing neither interesting nor chocking happened during Q1 2014 so my shares will remain as they are and the next exciting thing from DBAG will probably be the very nice dividend that they will pay.
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