In its Annual Report published today, DWS Group reports final and audited figures for the business year 2019. The key figures in the consolidated income statement are unchanged compared to the preliminary figures communicated on January 30, 2020.
“2019 was a strong year for DWS. We completed a substantial turnaround, achieved all our targets and returned our firm to a positive trajectory. Net inflows increased four quarters in a row, resulting in impressive full year net new assets of EUR 26.1 billion”, writes Asoka Woehrmann, Chairman of the Executive Board.
Woehrmann continues: “As a result of our efforts, our financial performance improved substantially. Throughout 2019, we accelerated our cost measures so we can operate more efficiently going forward. We achieved the high-end of our medium-term cost savings objective one year early. These cost actions were complemented by a healthy revenue top-line, which was driven by market performance and strong net new assets. After tax, we achieved a net profit of EUR 512 million, an increase of more than 30 percent from 2018. The Executive Board of DWS has therefore decided to propose to the Annual General Meeting a dividend of EUR 1.67 per share for the financial year 2019. This is an increase of more than 20 percent from 2018 and in line with our targeted dividend payout ratio.”
The Annual Report also includes the Non-Financial Report, which is integrated in our Sustainability Report. It is available under the following link: go.dws.com/Sustainability_Report_2019. Therein DWS provides insights on sustainable developments within the company last year, subdivided according to the topics “Clients and Products”, “Our Impact on Climate Change”, “People Strategy and Attractive Employer“, and “Risk Management, Compliance and Control“. The report shows that DWS advances on its path to sustainability, offering clients greater data transparency, robust analysis, new ESG metrics and innovative products to help them invest more responsibly.
Given the current uncertainty around the extent, duration and market spillover of COVID-19, our forward looking assumptions cannot currently consider any of its potential impacts. While COVID-19 could affect the drivers of our key performance indicators, its effects cannot be quantified yet, given the uncertainties associated with the impact of the pandemic. Therefore, it is too early for us to predict the impact on the asset management industry, our business or our financial targets, as the pandemic is still expanding and the governmental responses are still unfolding.
However, we will do everything in our power to manage our firm and our fiduciary duty responsibly, and will continue to pursue our growth strategy. Our diversified business across Active, Passive and Alternatives, our strategic partnerships and growing demand for ESG gives us confidence that we will be resilient and successful in a challenging market environment.
The 2019 Annual Report is to be found on the internet at go.dws.com/Annual_Report_2019.
Detailed information about the remuneration of the board members can be found in the Compensation Report (pages 46 to 58).
For further information please contact:
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+49 69 910 14941
About DWS Group
DWS Group (DWS) is one of the world's leading asset managers with EUR 767bn of assets under management (as of 31 December 2019). Building on more than 60 years of experience and a reputation for excellence in Germany and across Europe, DWS has come to be recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.
We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our investment approach strategically.
DWS wants to innovate and shape the future of investing: with approximately 3,600 employees in offices all over the world, we are local while being one global team. We are investors – entrusted to build the best foundation for our clients’ future.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of DWS Group GmbH & Co. KGaA. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks.