Asset management company DWS Group (DWS.F) reported Thursday that its first-quarter net income attributable to shareholders grew 5 percent to 146 million euros from last year's 138 million euros.
Earnings per share were 0.73 euro, up 5 percent from last year's 0.69 euro.
Profit before tax grew 6 percent from last year to 209 million euros. Adjusted profit before tax was 231 million euros, compared to 206 million euros a year ago.
Total net revenues increased 5 percent to 653 million euros from last year's 624 million euros. Adjusted revenues were 653 million euros, up 7 percent from prior year's 610 million euros.
Adjusted revenues were slightly down 1 percent sequentially, as higher management fees were overcompensated by seasonally lower performance fees.
Assets under Management climbed to 941 billion euros from last year's 841 billion euros. This was driven by net inflows, positive market developments and benign impacts from exchange rate movements.
Looking ahead, Stefan Hoops, CEO, said, "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 reach our financial targets for 2025."
In Vienna, DWS Group shares were trading at 40.70 euros, down 0.59 percent.
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