Deutsche Beteiligungs AG provided earnings guidance for the first quarter ended December 31, 2015. For the quarter, the company will presumably post net income of approximately EUR 30 million, pursuant to the preliminary financial results as at December 31, 2015. This unexpectedly high quarterly income stems from unpredictable positive contributions to the net result of investment activity; this item significantly determines DBAG's net income.

Following these largely unexpected positive influences on the net result of investment activity and, therefore, on the quarterly net income, negative changes have also occurred since the end of the period at 31 December 2015: in particular, valuation ratios on the stock markets have taken a downturn. In the opinion of the Board of Management, cyclical risk has increased at least for those portfolio companies that manufacture and globally market capital goods.