Every day counts - Deutsche Beteiligungs AG

Wilken Freiherr von Hodenberg
born 1954
Member of the Board of
Management and its Spokesman
since July 2000.
Studied law in Hamburg and
Lausanne. 15 years of experience in
investment banking, three years
of service as an executive for a
retail chain.
Torsten Grede
born 1964
Member of the Board of
Management since January 2001.
Studied business administration
in Cologne and St. Gallen following
a bank traineeship. 13 years of
experience in private equity at
Deutsche Beteiligungs AG.
Reinhard Löffler
born 1944
Member of the Board of
Management since August 1989.
Studied industrial engineering
at the University of Karlsruhe.
14 years of experience in mid-sized
industry. In 1985 he joined WFG
Deutsche Gesellschaft für Wagniskapital
mbH, a predecessor of
Deutsche Beteiligungs AG.
André Mangin
born 1954
Member of the Board of Management
since January 2004. Studied
law at the University of Hamburg.
More than 15 years of experience
in private equity, corporate finance,
and investment banking.
Dr. Rolf Scheffels
born 1966
Member of the Board of Management
since January 2004. Studied business
administration and economics at the
University of Frankfurt/Main. Began
his career in an auditing firm. More
than ten years of experience in
private equity and corporate finance,
seven of which at Deutsche Beteiligungs
AG.
Deutsche Beteiligungs AG · Annual Report 2002/2003
Letter from the Board of Management
LETTER FROM THE BOARD OF MANAGEMENT
Deutsche Beteiligungs AG recorded a successful financial year
2002/2003: compared with the previous year, earnings improved
markedly. The Company’s stock outperformed the Dax, Germany’s
key benchmark market index. By the end of the financial
year, we had contracted three management buyouts – proof of
our strong position in the German private equity market. The
successful closing held for DBAG Fund IV documents the competence
attributed to the Company in private equity.
The consolidated result would have been better, had the difficult
economic environment not impacted operations again. Our
investments in the United States suffered from the sluggishness
in the economy, requiring modifications in the valuation of one
fund and three enterprises.
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