FRANKFURT (dpa-AFX) - Deutsche Beteiligungs AG (DBAG) is withdrawing its statement on net asset value just over two months after confirming its annual forecast. This is likely to be between 675 and 710 million euros in the 2023/24 financial year, the company announced late Wednesday evening. At the beginning of May, DBAG had reaffirmed its November forecast of EUR 675 to 790 million. Analysts previously expected 782 million euros. The company confirmed its forecast for earnings from fund consulting of 9 to 13 million euros.

The reason for the revised forecast is that the gross valuation and disposal result from the portfolio in the third quarter is expected to be significantly lower than in the same quarter of the previous year. As a result, the consolidated result for the third quarter will also be "significantly" below the corresponding figure for the previous year.

DBAG's business consists of two areas: Firstly, it invests in medium-sized companies with a focus on the industrial sector in Germany, Austria and Switzerland, as well as Italy since 2020. On the other hand, the company offers fund advisory services.