Thursday 15 March 2018

DBAG annual report 2017

Front page of the annual 2017 report from DBAG

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 2016 or why not visit the analysis of DBAG 2017.

DBAG had an exceptional year in 2017. They managed to divest several of their investments and made a nice profit out of each and every one of them. I have probably mentioned this before but back in the days when I lived and worked in Germany I met a bunch of these elderly men that had built up the companies but without having any clear heir to their thrones. These companies are perfect for DBAG to make an MBO of.

As can be seen below DBAG increased their earnings from around 43 M € to 93 M €. They decided to increase the dividends to 1.4 € per share which I personally would have loved to see go higher but I am these days fully confident that they will invest my money very well for me and to be honest... better than what I would do so I can live with a small dividend.

Income statement of DBAG 2017

Conclusion: Here I am just letting the flower growing as it sees fit. I am not so confident that they will keep doing this well in ten years from now but that is far, far away into the future. I will remain as a shareholder.

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