Q4 2023 Deutsche Beteiligungs AG Earnings Call Transcript
Good morning, everyone, and warm welcome to our analyst conference call for annual report 2022-2023. (inaudible) us. I'm here with Tom, I've seen the Spokesman of the Board of Management of DBAG.
And without much do, I would now like to hand over to Tom. Please go ahead, Tom.
Yeah. Thank you all and a very warm welcome from my side. We are happy to report what we deem to be one of our stronger years. Obviously, if you do the math, Q4 was not our brightest spots, but I come to that later. I think we took a fairly cautious stance going into 2024, with our last quarter, given the positive outlook, we see in some portfolio companies, we have taken a cautious stance on budgets and I hope to realize some of that during the course of next year when we feel comfortable about that.
But coming back to our year, strong NAV growth above much above our historical mean 18% and really driven by half realizations mainly. Obviously, multiples had a bit, but again
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