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DWS Group (DWS) investor relations material
DWS Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 EPS reached EUR 1.10, up from EUR 1.07 in Q2 and EUR 0.83 in Q3 2024, with a clear path to the EUR 4.50 full-year target, supported by expected Q4 performance fees from Concept Kaldemorgen.
Net income rose 30% year-on-year to EUR 219 million, and revenues increased 10% year-on-year to EUR 754 million.
Long-term net flows were EUR 10.3 billion, reflecting strong investor confidence and positive momentum across most regions.
Cost-income ratio improved to 57.7%, down 6.6 percentage points year-on-year and below the full-year target.
Strategic digital initiatives in embedded investment solutions, digital assets, and AI are progressing, with first revenues from digital platforms already realized.
Financial highlights
Revenues reached EUR 754 million, up 10% year-on-year and 1% quarter-on-quarter.
Net income was EUR 219 million, up 30% year-on-year and 2% quarter-on-quarter.
Total assets under management (AUM) rose to EUR 1.054 trillion, up 4% quarter-on-quarter and 10% year-on-year.
Costs declined 2% quarter-on-quarter to EUR 435 million, reflecting disciplined cost management.
Performance and transaction fees totaled EUR 50 million, with lower real estate performance fees offset by higher transaction fees in EMEA.
Outlook and guidance
Confident in achieving the EUR 4.50 EPS target for 2025, with a clear path supported by seasonal performance fees.
Guidance for 10% EPS growth in both 2026 and 2027, based on 5.5% revenue growth and 2% cost growth assumptions.
Cost-income ratio expected to remain below 61.5% for full year 2025; management expects essentially flat costs for FY2025.
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