Q3 2025 DWS Group GmbH & Co KgaA Earnings Call Transcript
Key Points
- DWS Group GmbH & Co KGaA reported a strong Q3 2025 with earnings per share at EUR1.10, projecting a year-end EPS in the EUR4.20s, aligning with their previous targets.
- The company achieved long-term net flows of EUR10.3 billion, indicating solid investor confidence and a robust quarter.
- Revenues increased by 10% year-on-year to EUR754 million, showcasing growth in their financial performance.
- The cost/income ratio improved significantly to 57.7%, reflecting effective cost management and operational efficiency.
- DWS Group GmbH & Co KGaA expanded its regional presence by obtaining necessary licenses to open a new office in Abu Dhabi, strengthening its position in the Middle East.
- The flow picture in the APAC region was negatively impacted by a client's decision to in-source their investment capabilities, leading to challenges in maintaining positive flows.
- Despite improvements, the active equity business reported outflows of EUR0.6 billion, indicating ongoing challenges in this segment.
- Multi-asset saw outflows driven by two large low-margin redemptions, affecting the overall flow picture.
- The real estate segment faced continued pressure with outflows of EUR0.6 billion, highlighting challenges in traditional real estate strategies.
- The company faces uncertainties in the timeline for digital assets and AI initiatives to start contributing significantly to revenues.
Ladies and gentlemen, welcome to the DWS Group Q3 2025 results with Investor and Analyst Conference Call. I'm Sergen, the Chorus Call operator. (Operator Instructions) Conference being recorded.
(Operator Instructions) The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Oliver Flade. Please go ahead.
Yeah, operator, thank you very much, and good morning to everybody from Frankfurt. This is Oliver Flade from Investor Relations, and I would like to welcome everybody to our earnings call for the third quarter of 2025.
So before we start, I would like to remind you as usual that the upcoming Deutsche Bank analyst call will outline the Asset Management segment's results, which have a different parameter basis to the DWS results that we're presenting now.
I'm joined, as usual, by Stefan Hoops, our CEO; and Markus Kobler, our CFO. Stefan will start with some opening remarks as well as the deep dive on digital
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