Dear shareholders, dear business friends,

How did BAVARIA Industries close in the first half of 23?

The total value of our portfolio increased by around EUR 30 million to EUR 457 million in the first half of the year - an increase of 7%. Value per share rose 8% due to share buybacks. In the same period, the DAX rose by 16%.

Our Indian equities saw the strongest rise, up 23%. We bought Japanese stocks; thanks to the devaluation of the yen, our Japanese shares developed in a similar way to the DAX.

As in the previous year, we donated around EUR 1.4 million to various African associations that are dedicated to health and education and training in individual African countries.

We value openness and look forward to your comments and suggestions for improvement. We are always grateful for transaction proposals.

Kind Regards

Reimar Scholz

Chief Executive Officer

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BAVARIA Industries Group AG published this content on 24 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 July 2023 08:15:08 UTC.