27.07.2018
Deutsche Beteiligungs AG DE000A1TNUT7
DGAP-News: Deutsche Beteiligungs AG: publication of an accounting error according to section 109 paragraph 2 sentence 1 WpHG (German Securities Trading Act)
DGAP-News: Deutsche Beteiligungs AG / Key word(s): Miscellaneous
Deutsche Beteiligungs AG: publication of an accounting error according to
section 109 paragraph 2 sentence 1 WpHG (German Securities Trading Act)
27.07.2018 / 17:01
The issuer is solely responsible for the content of this announcement.
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Deutsche Beteiligungs AG: publication of an accounting error according to
section 109 paragraph 2 sentence 1 WpHG (German Securities Trading Act)
- convenience translation -
Frankfurt am Main, 27 July 2018 - The Bundesanstalt für
Finanzdienstleistungsaufsicht (BaFin, Federal Financial Supervisory
Authority) has determined that the consolidated financial statements of
Deutsche Beteiligungs AG as at the reporting date of 30 September 2015 are
incorrect:
In the consolidated statement of comprehensive income, the net result of
investment activity was understated by 14.6 million euros: in the valuation
of a subsidiary at fair value, the company took into account the profit
participation in the form of a disproportionate share of profits (so-called
carried interest) of a co-shareholder incorrectly for the first time in
financial year 2014/15. The company should have already taken this profit
sharing into account in previous years.
As a result, the company has recognised profits of EUR 14.6 million for
previous years, which it was not entitled to.
This violates IFRS 10.31 in conjunction with IFRS 13.61, according to which
the interest in a subsidiary must be measured at fair value through profit
or loss. In its measurement, not only the future sales proceeds for the
subsidiary must be taken into account in its entirety, but also negative
factors influencing value, such as the profit participation of a
co-shareholder, must be taken into account if they are likely to occur.
Contact:
Thomas Franke
Head of Public Relations/Investor Relations
E-Mail: [email protected]
Phone: +49 69 95787 307
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27.07.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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: Deutsche Beteiligungs AG
Börsenstrasse 1
60313 Frankfurt am Main
Germany
Phone: +49 69 957 87-01
Fax: +49 69 957 87-199
E-mail: [email protected]
Internet: www.dbag.de
ISIN: DE000A1TNUT7
WKN: A1TNUT
Indices: SDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime
Standard); Regulated Unofficial Market in Berlin, Hamburg,
Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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708829 27.07.2018
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