Preliminary Q4 2025 DWS Group GmbH & Co KgaA Earnings Call Transcript
Key Points
- DWS Group GmbH & Co KGaA exceeded its EPS target, achieving €4.64, a 56% increase over the three-year plan.
- The company reported a strong Q4 with positive inflows across active, extractors, and alternatives, as well as across all regions and client types.
- Total revenues increased by 14% year on year to €3,155 million, driven by higher performance fees and increased management fees.
- DWS Group GmbH & Co KGaA improved its cost-income ratio to 58% for the full year 2025, demonstrating strong cost discipline.
- The company announced ambitious new financial targets, including an EPS growth of 10 to 15% per annum until 2028 and a cost-income ratio below 55% by 2027.
- DWS Group GmbH & Co KGaA faced margin compression and inflationary pressures, which were tougher than anticipated.
- The company's alternatives segment developed below original expectations, indicating room for improvement.
- There is still room to grow with institutional clients, as acknowledged by the management.
- The sentiment for real estate remains challenging, with traditional real estate strategies facing continued pressure.
- DWS Group GmbH & Co KGaA's US domiciled ETFs saw outflows of €0.6 billion in the fourth quarter, mainly driven by outflows in ForEx hedged ETFs.
Ladies and gentlemen, welcome to the DBS Q4 and full year 2025 preliminary results investor and analyst conference call and live webcast. I'm Lorenzo, the Corus call operator.
I would like to remind you that all participants will be in listen-only mode and the conference will be recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing and 1 on your telephone. For operator assistance, please press star and 0. 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, thank you very much, Lorenzo, and good morning to everybody from, Snowy Frankfurt. This is Oliver Flade from Investor relations, and I would like to welcome everybody to our earnings call for the 4th quarter and full year of 2025.
Before we start, my usual reminder that the upcoming Deutsche Bank analysts call will outline the asset management segments
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