Deutsche Beteiligungs AG on Tuesday released fiscal year 2025 results that aligned with the mid-point of the company's revised guidance for the period. The firm reported a net asset value (NAV) for its PE Investments portfolio of €640 million, equivalent to €36.37 per share, which falls inside the guidance range of €625 million to €665 million.
Group-level profit also featured in the announcement: net income for FY25 amounted to €24.7 million, down from €47.5 million in FY24. Within the Fund Investment Services business, EBITA reached €14.3 million, meeting the top end of the company's guidance range of €10 million to €15 million and standing marginally above the €14 million recorded in the prior year.
Segment performance and first-time contributors
The Private Markets Investments segment delivered profit before tax of €8.2 million for the fiscal year. Separately, private-debt investments generated €2.2 million in income during FY25, described by the company as the first time that this asset class produced a meaningful return for the firm.
The results reflect a mix of established fund services earnings and newly contributing investment sources, with the private-debt allocation noted for its initial meaningful income contribution in the reporting period.
Liquidity, disposals and capital return
Shortly after the close of the fiscal year, Deutsche Beteiligungs completed the sale of its Duagon holding and received proceeds in January 2026. The company said the transaction bolstered its liquidity position by reducing drawdowns on its credit lines.
Alongside the disposal, the firm extended its share buyback programme and authorized repurchases of up to €20 million over the coming year.
Outlook
Looking ahead, Deutsche Beteiligungs set a NAV-per-share target for FY2026 in a range from €36 to €40. For Fund Investment Services, the company expects EBITA of €5 million to €9 million in FY2026. Its medium-term targets for 2028 call for NAV per share of €41 to €48 and EBITA of €11 million to €17 million.
The company’s announced figures and guidance provide a view of near-term expectations and a multi-year target for NAV and earnings from its fund services business.