01.02.2016
German Startups Group Berlin GmbH & Co. KGaA DE000A1MMEV4
DGAP-News: German Startups Group Berlin GmbH & Co. KGaA - Net profit more than doubled in 2015
German Startups Group Berlin GmbH & Co. KGaA / Key word(s): Final Results
01.02.2016 12:27
Dissemination of a Corporate News, transmitted by DGAP - a service of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Berlin, 1 February 2016 - German Startups Group Berlin GmbH & Co. KGaA, the
second most active venture capital investor in Germany in the period since
2012 (CB Insights, 2015), has successfully continued the dynamic growth in
the fiscal year 2015. This is also reflected in the financial figures,
according to which the profitability was further increased.
As stated by the audited IFRS consolidated financial statement for the
fiscal year 2015, German Startups Group recorded a consolidated net profit
of 3.8 million euros in the reporting period, following 1.4 million euros
in the fiscal year 2014 (IFRS individual financial statement). Thereof, 0.2
million euros are allotted to the minority shareholders of the fully
consolidated majority investment Exozet Berlin GmbH ("Exozet"), which has
been consolidated for the first time from 30 June 2015, and 3.6 million
euros to the shareholders of German Startups Group. This corresponds to an
increase in profit of more than 150% when compared to the IFRS individual
financial statement of 2014.
At an average number of 7,515,382 shares in the fiscal year 2015, this
corresponds to earnings per share after tax of 0.49 euros and an increase
of 50% compared to the fiscal year 2014 (0.32 euros).
The positive development is attributed to an increase in value of 19 out of
25 minority holdings that were of particular significance to German
Startups Group in 2015 and is thus contributed by the breadth of the
portfolio, not just by individual holdings or events. Shortly before the
end of the year 2015, the company made three additional investments that
are of particular significance to it, so that it now holds 28 holdings of
particular significance to it. The 28 holdings that are of particular
significance to German Startups Group together comprise 96% of the value of
all 42 active minority holdings. The 10 core holdings alone account for 64%
of the value of all 42 active minority holdings. German Startups Group
determines the fair value of the company stakes held by it predominantly on
the basis of prices paid by third parties for the same or similar shares.
This is the case for 24 of 28 holdings that are of particular signifiance
to German Startups Group, although there are individual cases in which it
even determines a lower valuation.
The majority holding Exozet reached profitability in the second half of
2015 with a profit of 289k euros. The first half of the year still incurred
a loss, but balanced out over the entire year the profit amounted to 36k
euros. Due to its group consolidation, the turnover of German Startups
Group increased from 72k euros in 2014 (IFRS individual financial
statement) to 5.6 million euros in 2015 (IFRS consolidated financial
statement). Exozet recorded a turnover of 9.4 million euros in 2015, of
which the partial amount realised in the period from 30 June to 31 December
2015 was consolidated.
The return on equity, which puts the profit in relation to the average
equity and therefore constitutes an important return indicator for German
Startups Group, also increased considerably in 2015 to 19.7% (2014: 15.7%).
The long-term gross performance of the average capital invested in
shareholdings since mid-2012 attained by German Startups Group after the
conclusion of the fiscal year 2015 amounts to approximately 28% p.a.,
according to preliminary calculations. In 2015, the company even realised a
gross performance of 36% of the average capital employed in shareholdings.
German Startups Group is confident that it can continue this profitable
growth in the fiscal year 2016.
The shares of the company are listed on the Entry Standard of the Frankfurt
Stock Exchange since mid-November 2015. Of the 11,114,750 shares in total,
88% are in free float and the rest are in the hands of the Management,
Supervisory Board, their family members, and their companies.
END OF THE QUASI AD HOC ANNOUNCEMENT
About German Startups Group Berlin GmbH & Co. KGaA
German Startups Group is a listed investment company based in Berlin that
focuses on young, fast-growing companies, so-called startups. The company
acquires majority and minority shareholdings mainly by providing venture
capital. The portfolio companies that German Startups Group holds also
stand to benefit from German Startups Group's expertise, experience and
network with respect to strategy development, financing rounds,
restructuring necessities, M&A transactions or selling the company,
including a possible IPO. According to its own assessment, German Startups
Group provides startups with so-called "smart money" by acquiring a
shareholding. Its focus is on companies whose products or business models
represent a disruptive innovation, allow for a high degree of scalability
to be expected, and in which it has a great deal of trust in the
entrepreneurial abilities of the founders to whom it feels that it obtains
early access to due to its close relationships to relevant players in the
startup scene. The geographical focus is on the German-speaking region.
Since it commenced with operations in 2012, German Startups Group has in
its opinion built up a diversified portfolio of investments in young
companies and become the second most active venture capital investor in
Germany since 2012 (CB Insights, Germany Venture Capital Overview). 28 of
the 42 minority stake holdings in operationally active companies are of
particular significance to German Startups Group and together comprise 96
of the total value of all 42 active minority stake holdings. According to
German Startups Group, its investment portfolio reflects a cross-section of
extremely promising German startups of various maturity stages ("Seed,"
"Early" and "Growth Stage," by German Startups Group's own definition) and
includes some of the most successful and best known German startups.
More information is available on our website at www.german-startups.com.
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Information and Explaination of the Issuer to this News:
Christoph Gerlinger, founder and CEO of German Startups Group, comments on
the development and is optimistic for 2016, 'German Startups Group has been
profitable since its first full fiscal year, i.e. 2013, and this at an
increasing rate. We are pleased that we could continue this trend in the
2015 fiscal year. The renewed profit increase represents the continued very
positive development of our portfolio companies and therefore the success
of our investment strategy. This confirms our hypothesis that the strength
of German innovation can create value even in turbulent times, irrespective
of the low interest rates, Euro crisis, economic cycle, Central Bank
policy, commodity prices, and the capital market environment. With our
successful listing on the stock exchange, we offer private and
institutional investors access to the asset class < German startups> and
thus the opportunity to participate in the increase in value of these
dynamic, young companies.
01.02.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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