The New Germany Fund, Inc. (GF)GFThe New Germany Fund, Inc.

Financials

Quarterly Income Statement (USD)

Quarterly Report	TTM	12/31/2025	06/30/2025	12/31/2024	06/30/2024	12/31/2023	06/30/2023	12/31/2022	06/30/2022
Revenue	12.317M	9.658M	3.291M	-3.686M	3.054M	138K	3.437M	343K	3.166M
Cost of Goods Sold	2.687M	1.041M	0.00	803K	843K	0.00	0.00	0.00	0.00
Gross Profit	10.473M	8.616M	3.291M	-4.488M	3.054M	138K	3.437M	343K	3.166M
Gross Profit Margin	89.2%	89.2%	100.0%	121.8%	100.0%	100.0%	100.0%	100.0%	100.0%
Total Operating Expenses	22.577M	18.160M	1.205M	2.029M	1.183M	1.188M	18.812M	2.221M	107.651M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	4.442M	25K	1.205M	2.029M	1.183M	1.188M	1.242M	1.219M	1.388M
Operating Income (EBIT)	-12.104M	-9.543M	2.087M	-6.517M	1.870M	-1.050M	2.195M	-876K	1.778M
Operating Margin	-98.8%	-98.8%	63.4%	176.8%	61.2%	-761.3%	63.9%	-255.2%	56.2%
Income Before Tax (EBT)	21.653M	-9.484M	65.024M	-6.537M	-27.351M	1.781M	22.249M	-1.878M	-104.485M
Interest Income	416K	416K	—	—	—	—	—	—	—
Interest Expense	—	—	—	—	—	—	—	—	—
Other Income/Expense	33.756M	59K	62.938M	-19K	-29.221M	2.831M	20.054M	-1.003M	-106.263M
Net Income	35.328M	-9.484M	65.024M	-6.537M	-13.676M	1.781M	22.249M	-1.878M	-104.485M
Income Tax Expense	-13.676M	0.00	0.00	0.00	-13.676M	0.00	0.00	0.00	0.00
Net Profit Margin	-98.2%	-98.2%	1975.6%	177.3%	-447.9%	1290.9%	647.3%	-547.3%	-3300.0%
EBITDA	-11.154M	-9.484M	2.087M	-5.627M	1.870M	0.00	2.195M	0.00	1.778M
EBITDA Margin	-98.2%	-98.2%	63.4%	152.7%	61.2%	0.0%	63.9%	0.0%	56.2%
Depreciation & Amortization	891K	0.00	0.00	891K	0.00	1.050M	0.00	876K	0.00
EPS Basic	2.19	-0.59	4.02	-0.40	-0.84	0.09	1.30	-0.11	-5.94
EPS Diluted	2.19	-0.59	4.02	-0.40	-0.84	0.09	1.30	-0.11	-5.94
Shares Outstanding	16.180M	16.180M	16.180M	16.180M	16.301M	33.548M	34.209M	34.784M	35.136M
Diluted Shares Outstanding	16.180M	16.180M	16.180M	16.180M	16.301M	33.548M	34.209M	34.783M	35.136M

Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	3.136M	3.244M	3.575M	-3.446M	92.600M	48.119M	80.192M	-66.539M
Cost of Goods Sold	1.915M	0.00	0.00	1.856M	3.202M	2.631M	2.434M	3.055M
Gross Profit	1.221M	3.244M	3.575M	-5.302M	89.398M	45.487M	77.758M	-69.595M
Gross Profit Margin	38.9%	100.0%	100.0%	153.9%	96.5%	94.5%	97.0%	104.6%
Total Operating Expenses	-54.086M	2.264M	2.430M	1.330M	1.645M	3.199M	1.249M	1.627M
Research & Development	0.00	0.00	0.00	30.86	0.00	0.00	6.81	0.00
Selling, General & Administrative	1.229M	2.264M	2.430M	1.330M	1.645M	1.332M	1.249M	1.627M
Operating Income (EBIT)	55.306M	980K	1.145M	-106.363M	9.190M	-425K	78.942M	-68.167M
Operating Margin	1763.5%	30.2%	32.0%	3086.3%	9.9%	-0.9%	98.4%	102.4%
Income Before Tax (EBT)	55.540M	-20.212M	24.030M	-106.363M	9.190M	97.494M	78.942M	-68.167M
Interest Income	3.708M	—	—	—	—	—	—	—
Interest Expense	—	—	—	—	—	—	—	—
Other Income/Expense	234K	-21.192M	22.885M	3K	-3K	97.494M	0.00	0.00
Net Income	55.540M	-20.212M	24.030M	-106.363M	9.190M	97.494M	78.942M	-68.167M
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-161K
Net Profit Margin	1771.0%	-623.1%	672.2%	3086.3%	9.9%	202.6%	98.4%	102.4%
EBITDA	55.540M	980K	23.994M	-106.366M	9.752M	97.812M	78.950M	-68.067M
EBITDA Margin	1771.0%	30.2%	671.2%	3086.4%	10.5%	203.3%	98.5%	102.3%
Depreciation & Amortization	0.00	0.00	0.00	0.00	559K	425K	0.00	0.00
EPS Basic	3.43	1.23	1.39	-6.40	0.59	6.28	4.99	-4.38
EPS Diluted	3.43	1.23	1.39	-6.40	0.59	6.28	4.99	-4.35
Shares Outstanding	16.180M	16.180M	17.288M	16.619M	15.531M	15.524M	15.820M	15.561M
Diluted Shares Outstanding	16.180M	16.180M	17.288M	16.619M	15.531M	15.524M	15.820M	15.670M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About The New Germany Fund, Inc.

The New Germany Fund Inc. functions as a closed-ended equity investment vehicle, originally established by Deutsche Investment Management Americas Inc. and currently overseen by Deutsche Asset Management International GmbH. Its primary objective is to allocate capital within the public stock markets of Germany, seeking out opportunities in shares of companies operating across a diverse range of industries. The fund predominantly focuses its investments on small and mid-capitalization (SMC) firms. To assess its portfolio's returns, the fund utilizes the Midcap Market Performance Index as its benchmark. This fund was founded on January 16, 1990, and is legally registered in Germany.

Frankfurt Am Main

fundsus.deutscheam.com/EN/products/new_germany_fund.jsp

Financial Services / Asset Management

Sector: Financial Services
Industry: Asset Management
CEO: Linda Lonneberg

View full financials

About The New Germany Fund, Inc.

Frankfurt Am Main

fundsus.deutscheam.com/EN/products/new_germany_fund.jsp

Financial Services / Asset Management

Sector: Financial Services
Industry: Asset Management
CEO: Linda Lonneberg

View full financials