On Thursday, asset management firm DWS Group reported a 5% growth in first-quarter net income attributable to shareholders, bringing in 146 million euros compared to 138 million euros in the previous year. The company's earnings per share also saw an increase, coming up to 0.73 euro, a 5% increase from 0.69 euro in the previous year.
The company's profit before tax showed a 6% increase from the previous year, totalling 209 million euros. The adjusted profit before tax was 231 million euros, up by 25 million euros from the same time last year.
In terms of total net revenues, DWS Group posted a 5% increase to reach 653 million euros as opposed to 624 million euros last year. Adjusted revenues also saw an increase, rising 7% from the prior year's 610 million euros to 653 million euros.
However, adjusted revenues saw a minor sequential decrease of 1% due to higher management fees being outweighed by a seasonal decrease in performance fees.
The company also saw an increase in assets under management, which went up to 941 billion euros from 841 billion euros the previous year. This growth was driven by net inflows, positive market developments, and favourable impacts from exchange rate movements.
The CEO of DWS Group, Stefan Hoops, gave a positive outlook on the company's future. He stated, "With continued strong growth in our Xtrackers business, net inflows in Active, and a turnaround in sight for Alternatives, we are on track and fully committed to reaching our financial targets for 2025."
On the shares front, as of a recent check, DWS Group's shares were trading at 40.70 euros in Vienna, indicating a 0.59% drop.
