SGT German Private Equity GmbH & Co KGaA (PGH) H2 2025 earnings summary

Executive summary

• 2025 marked a strategic shift, with the group abandoning a major PayTech acquisition and refocusing on early-stage venture capital, especially in AI and BioTech.

• The company launched Softmax AI, a company builder in artificial intelligence, and increased its stake in AuctionTech, a leading PropTech firm.

• A net loss of €1.8 million was recorded, but the group maintains a strong equity base and expects future value creation from its portfolio.

• Ongoing legal negotiations with SGT Capital Group over €6.1 million in claims are expected to conclude in summer 2026.

Financial highlights

• Net loss of €1.83 million for 2025, improved from a €4.31 million loss in 2024.

• Equity at year-end: €11.78 million, equity ratio 90%.

• Cash flow from operations: -€2.41 million; investing: +€1.33 million; financing: +€0.99 million.

• Book value per share: €1.03; Net Asset Value per share estimated above €1.50.

• Average shares outstanding: 10.2 million; 11.4 million at year-end.

Outlook and guidance

• Expects positive portfolio value growth and a group profit of up to €1 million in 2026.

• Ongoing expansion in AI and BioTech, with several new spin-offs planned in 2026.

• Forecasts continued losses at the holding level due to limited revenues and ongoing costs.