DWS Group 9-month Profit Declines - Quick Facts

(RTTNews) - DWS Group (DWS.F) reported that its net income declined in the first nine months of 2023 year-on-year by 12 percent to 430 million euros from 488 million euros, last year, which reflects the significantly more positive market conditions at the beginning of 2022. In the first nine months of 2023, adjusted revenues decreased year-on-year by 5 percent to 1.94 billion euros from 2.05 billion euros, previous year, predominantly due to lower management fees, mainly driven by declining markets in 2022, which led to lower average Assets under Management during the first nine months of 2023.

In the first nine months of the year, DWS generated net inflows ex cash of 20.8 billion euros, including cash of 17.3 billion euros.

The company reported third quarter net income of 147 million euros. Adjusted revenues were at 666 million euros.

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