March 20, 2020 / 4:54 PM / 11 days ago

BRIEF-Deutsche Beteiligungs Withdrawns FY Forecast

March 20 (Reuters) - DEUTSCHE BETEILIGUNGS AG:

* FORECAST FOR THE CURRENT FINANCIAL YEAR WITHDRAWN - QUARTERLY RESULT SIGNIFICANTLY LOWER YEAR-ON-YEAR

* NEGATIVE IMPACT OF CORONAVIRUS PANDEMIC ON PORTFOLIO COMPANIES AND NET ASSET VALUE

* SECOND-QUARTER PERFORMANCE BURDENED BY LOWER CAPITAL MARKETS MULTIPLES

* MATERIAL RISKS, PARTICULARLY FOR DBAG’S INVESTMENTS RELATED TO MANUFACTURING INDUSTRY, PRIMARILY RESULT FROM LOWER DEMAND

* DEMAND HAS TEMPORARILY DROPPED CONSIDERABLY

* FURTHER DEVELOPMENT OF PANDEMIC AND RESULTING ECONOMIC EFFECTS ARE CURRENTLY UNFORESEEABLE

* IT IS NO LONGER FEASIBLE TO MAINTAIN FORECAST FOR CURRENT FINANCIAL YEAR 2019/2020

* WILL ONLY BE ABLE TO PROVIDE A NEW FORECAST AT A LATER STAGE

* MEDIUM- TO LONG-TERM ASSESSMENT OF DBAG’S PORTFOLIO REMAINS POSITIVE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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