28.03.2018
German Startups Group GmbH & Co. KGaA DE000A1MMEV4
DGAP-Adhoc: German Startups Group GmbH & Co. KGaA: Again, significant positive result in 2017, confident outlook on 2018
DGAP-Ad-hoc: German Startups Group GmbH & Co. KGaA / Key word(s): Final
Results
German Startups Group GmbH & Co. KGaA: Again, significant positive result in
2017, confident outlook on 2018
28-March-2018 / 21:53 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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German Startups Group: Again, significant positive result in 2017,
confident outlook on 2018
Berlin, 28 March 2018 - German Startups Group, a leading venture capital
provider in Germany and Berlin-based digital agency with 140 employees,
records a profit of 1.7m euros, respectively 0.14 euros per share for the
fiscal year 2017. The company thereby decided to have no further deferred
taxes capitalized for 2017, in contrast to previous years. Therefore, the
company does not post the tax income of 0.04 euros per share for 2017
resulting from the accrual of tax losses carried forward, as previously
planned, but accepts the corresponding negative earnings effect. The equity
per 31 December 2017 amounts to 31.1m euros, respectively 2.60 euros per
share (IFRS). This does not include hidden reserves from the increase in
value of the majority holding Exozet since its acquisition as well as
potential increases in value of shares in startups that have been included
in the balance sheet at third-party objectivised valuations where the
corresponding transactions, the third-party objectivisations are based on,
date back for a larger amount of time.
German Startups Group is going to publish its 2017 annual report end of
April 2018.
Investor relations contact
German Startups Group
Marcel Doeppes
Mail: [email protected]
German Startups Group - We Love Startups!
German Startups Group is a listed investment company and digital agency
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. Its focus is on companies whose products or
business models include 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. 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 most active private venture
capital investor in Germany since 2012 (CB Insights 2015, PitchBook 2016).
20 of the 37 minority stakeholdings in operationally active companies are of
particular significance to German Startups Group and together comprise
roughly 90% of the total value of all 37 active minority stakeholdings (per
31 December 2017). The 10 core holdings alone make up two thirds of the
value of all active minority stakeholdings. According to German Startups
Group, its investment portfolio reflects a cross-section of 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 Explanation of the Issuer to this News:
Christoph Gerlinger, CEO of German Startups Group, comments: '2018 has been
quite a good year for us. As a result, we were able to celebrate one of the
biggest IPO's in 2017 with Delivery Hero and to generate our biggest exit so
far with the sale of our stake in Scalable Capital which recorded a multiple
of 11x for us. Apart from that, we succeeded in selling stakes at a profit
in further prominent startups like CRX Markets, realbest, Pyreg and eWings.'
Concerning the costs, the company remains disciplined. Concurrent with the
departure of Nikolas Samios as authorized signatory and his Cooperativa
Venture Services as service provider the managing general partner of German
Startups Group waived a percentage point of the variable part of the
management fee otherwise amounting to 2.5% of the individual balance sheet
total (IFRS), thus 40% of the variable proceeds it is entitled to, in favour
of the shareholders and has also streamlined the internal administrative
processes partly bloated till then. In addition, German Startups Group also
accomplished substantial savings on other cost categories.
With regard to its shareholdings in some of the most prominent and
successful German growth companies such as Chrono24 and Mister Spex as well
as the already announced significant extension of its business model German
Startups Group gives a confident outlook for the year 2018.
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28-March-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: German Startups Group GmbH & Co. KGaA
Platz der Luftbrücke 4-6
12101 Berlin
Germany
Phone: +49.30.6098890.80
Fax: +49.30.6098890.89
E-mail: [email protected]
Internet: www.german-startups.com
ISIN: DE000A1MMEV4
WKN: A1MMEV
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Frankfurt (Scale), Tradegate Exchange
End of Announcement DGAP News Service
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670137 28-March-2018 CET/CEST
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