Dws Group Gmbh & Co. Kgaa · XETR:DWS
Dws Group Gmbh & Co. Kgaa — Q1 2024 Earnings Presentation
19 slides from Dws Group Gmbh & Co. Kgaa's earnings presentation, Apr 25, 2024
Slide 1: DWS Group - Q1 2024 results
VA, DWS | Investors for anew now DWS Group - Q1 2024 results April 25, 2024
Slide 2: Introduction of Long-term AuM and Flows
Introduction of Long-term AuM and Flows / 2
Slide 3: Q1 2024 key financial highlights
Q1 2024 key financial highlights OWS On track to achieve 2025 strategic targets y Adjusted profit before tax of €231mn, increased q-o-q due to lower costs in Q1 y Adjusted cost-income-ratio of 64.7%, improved both q-o-q and y-o-y y Long-term net flows of €7.9bn, strongly supported by Passive includi
Slide 4: Financial performance snapshot — Q1 2024
Financial performance snapshot — Q1 2024 AWS Strong AuM development supportive for future revenue generation AuM (€bn) Adjusted revenues (€mn) Total Long-term Total management netflows(€bn) 35 ii@ U8) fee margin (bps) Zh 50 12% GD V & | 841 896 941 610 659 Qt23 Q4-23 Q1-24 Qt23 Q4-23 Qt24 Adjusted c
Slide 5: Market indices development
S-Dax Dax MSCI World Eurostoxx 50 10Y Bund 10Y Treasury Barclays Global Aggregate 30Y Euro Swap / 5
Slide 6: Total AuM development
Total AuM development DWS' AuM at record level, driven by inflows, FX and positive market development AuM development Q1 2023 - Q1 2024 JDWS Q1 Highlights — Total AuM increased to € 941bn, a record level for DWS 841 — Positive market impact of € 30bn and positive €/$ exchange rate movements of € 7bn
Slide 7: Total AuM split by client type and asset class
— — — — Retail — €941bn €941bn 47% Institutional 53% / 7
Slide 8: Double digit increase in funds greater than €1bn
Double digit increase in funds greater than €1bn New funds attract strong net inflows into Passive, Alternatives and Fixed Income Number of funds above €1bn AuM*t_ ——_______ 1 Passive Ml Alternative: 134 CMD 2022 Q1 2024 Cumulative flows of new funds since IPO as of Q1 2024 41% ESG products? Total m
Slide 9: Revenue development
Revenue development JDWS Increase in management fees driven by higher average AUM Highlights — Total adjusted revenues of €653mn, supported by a 5% rise in average AuM q-0-q — Performance and transaction fees down q-o-q but increased y-o-y as the first quarter is typically a quarter with seasonally
Slide 10: Cost development
Cost development ADWS Adjusted CIR decreased to 64.7% as a result of sustained cost discipline in Q1 Adjusted costs! Highlights 65.7 Adjusted CIR (%) 66.3 — Total adjusted costs of €423mn 9 +5%, decreased q-o-q as a result of lower adjusted general & 433 423 administrative expenses 404 ©) ® — Higher
Slide 11: Path to 2025 financial targets
Wows Path to Reported Upside Targets 2023 potential 2025 Financial Adjusted CIR 64.0% <59% Targets 2025 Earnings per share €2.76 £4.50 ; +€450 - Profit before Tax €777mn €500mn thereof performance and transaction fees thereof management fees and P €2,315mn + ~€250mn other recurring revenues investor
Slide 12: Slide 12
Slide 13: Appendix
DWS Margin Overview ADWS FY 2023 DWS Margins after separation of Advisory Services FY 2023 Margins, bps Advisory Services _ Advisory Services” included separated Delta | Active Equity 69 72 2.6 | Active Multi Asset 30 39 9.3 | Active SQl' 31 31 n/a | Active Fixed Income n 1 01 | Passive 7 7 0.0 | Al
Slide 14: DWS Margin Overview
Flash % Delta Absolute Delta Q1 2024 vs Q1 2024 vs Q1 2024 vs Q1 2024 vs Q1 2024 Q4 2023 Q1 2023 Q4 2023 Q1 2023 Q4 2023 Q1 2023 Management fees and other recurring revenues 592 572 571 3% 4% 20 21 Performance and transaction fees 17 41 11 (58)% 56% (24) 6 Other revenues 44 44 42 1% 4% 0 2 Net reven
Slide 15: Flash P&L Q1 2024
Historical net flows and AuM development Net flow and AUM detail, €bn Net flows by asset class JDWS FY 2022 Q12023 Q22023 @3 2023 Q42023 FY 2023 Q12024 AuM by asset class FY 2022 Q1 2023 Q2 2023 Q3 2023 Q42023 FY 2023 Q12024 Active Equit 0403 ON 05) 5) (23) (1.8) Active Eauit 99102 99103103109 Activ
Slide 16: Historical net flows and AuM development
Q1 2024 detailed investment outperformance ADWS Investment performance, in %! Vv 3Y BY : Equit 66% 45% 70% rae e oa 7 sar 46% 59% 58% Fixed Income 68% 90% 98% Cash’ 400% 100% 100% Total 67% 58% 76% Active Institutional Equity? 54% 45% 60% Multi Asset 44% 41% 40% sal 65% 68% 71% Fixed Income 83% 82%
Slide 17: Q1 2024 detailed investment outperformance
Investor relations A DWS Contact details Oliver Flade Maneli Farsi oliver.flade@dws.com maneli.farsi@dws.com investor.relations@dws.com investor.relations@dws.com Tel: +49 (69) 910 63072 Tel: + 49 (69) 910 41049 Agatha Klimek agatha-dominika.klimek@dws.com investor.relations@dws.com Tel: +49 (69) 91
Slide 18: Investor relations
https://group.dws.com/ir/reports-and-events/financial-results/ / 18
Slide 19: Cautionary statement (2/2)
Cautionary statement (2/2) OWS To measure outperformance, each fund or mandate of DWS which has a benchmark and where both gross and net outperformance is available has its performance (gross of fees) measured against that benchmark. In certain cases, for Illiquid portfolios where no benchmark is av
DWS Group GmbH & Co. KGaA — Q1 2024 Earnings Presentation on 6ix