Deutsche Beteiligungs - Expanding the companies in broadband sector

Deutsche Beteiligungs (DBAG) reported a marginal net loss in Q120, with income from the fund services segment offset by a more muted result from the private equity investments segment. The recent launch of DBAG Fund VIII should soon start to generate sizeable fee income. Macroeconomic and geopolitical headwinds continue to weigh on portfolio value growth (with c 50% of DBAG’s portfolio in German industrials). However, in the longer term, DBAG should benefit from its buy-and-build strategy in the better-performing broadband sector.