Germany · Delayed Price · Currency is EUR DWS Group GmbH & Co. KGaA Earnings Call Transcripts
Fiscal Year 2025
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EPS rose 40% to EUR 4.64 and revenues hit a record EUR 3,155 million in 2025, with strong inflows and improved cost efficiency. New targets include 10%-15% annual EPS growth and a cost income ratio below 55% by 2027, supported by digital and international expansion.
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Q3 2025 saw strong financial performance with 10% revenue growth, 30% higher net income, and robust net flows, supporting confidence in meeting the EUR 4.50 EPS target for 2025. Strategic digital and regional initiatives advanced, while cost discipline improved profitability.
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Q2 2025 saw resilient earnings, strong cost control, and robust net flows, keeping the group on track for its EUR 4.50 EPS target and setting up for 10% annual EPS growth in 2026–2027. Strategic investments in digital, alternatives, and Xtrackers underpin future growth.
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The AGM highlighted record financial results, a new Supervisory Board member, and the completion of a transformation program. Shareholders approved all proposals, including a higher dividend and updated compensation systems, while management addressed extensive questions on ESG, strategy, and governance.
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Q1 2025 saw strong revenue and net income growth, improved cost efficiency, and robust net inflows, especially in ETFs. Strategic partnerships and product launches position the business for future growth, while guidance for 2025 EPS and cost ratios remains intact.
Fiscal Year 2024
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Record AUM and strong net inflows drove double-digit profit growth and a 19% rise in net income. 2025 guidance targets higher revenues, flat costs, and a cost-income ratio below 59%, with midterm EPS growth of 10% per year and a 65% dividend payout ratio.
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Record AUM and strong net inflows drove improved profitability and a lower cost-income ratio, with disciplined cost management and strategic investments supporting progress toward 2025 targets. Alternatives and ESG products showed positive momentum, while transformation costs declined.
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Q2 2024 saw higher revenues and profit before tax, with strong passive inflows offsetting large low-margin outflows. Guidance for 2024 was raised, with cost discipline and digital investments supporting growth and 2025 targets.
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The AGM covered leadership transitions, solid financial results despite market challenges, and approval of a record dividend. Strategic initiatives focused on digital assets, sustainability, and operational transformation, while shareholders raised concerns about ESG, diversity, and transparency. All agenda items, including board elections and capital measures, were approved by large majorities.