DWS GROUP GMBH & CO. KGAA DWS GROUP - Q4 & FY 2021 PRELIMINARY RESULTS
January 27, 2022
2021: A YEAR FOR THE RECORD BOOKS
DWS celebrates third consecutive strong year due to unique results across major metrics
RECAP: PHASE TWO HAS BEGUN
− Invest into transformation for further efficiency and targeted growth
KEY ACHIEVEMENTS IN 2021
Record results across major financial metrics:
-
Net inflows of €48bn
Financials − Adjusted CIR of 58.1% - Adjusted PbT of €1,140m
- AuM of €928bn
FY 2020 | − Differentiated |
leadership: | |
ESG, Passive, high | |
margin strategies | |
− Take active role in M&A | |
activities |
TRANSFORM, GROW AND LEAD
Differentiated leadership
- ESG: €19bn net flows into ESG products1 or 40% of net flows, set 2030 Net Zero interim target, improved CDP rating to 'B'
- Passive: €26bn net flows
- High margin strategies: Compelling perfor- mance attracted flows into high-marginareas
- Partnerships: JV with BlackFin Capital Partners to further develop and grow IKS platform, mino- rity stake in UK-based Smart Pension, increased global visibility through LA Lakers partnership
DIVIDEND2 | Executive Board will propose a dividend of €2.00 per share | |
1 See Cautionary Statement for ESG product classification framework explanation on p. 21 2 Subject to Annual General Meeting approval on June 9th, 2022 | ||
DWS Group | Q4 & FY 2021 preliminary results | / 1 |
Investor Relations | January 27, 2022 | |
ON TRACK TO DELIVER TARGETS
KEY ACHIEVEMENTS IN 2021
- Strong net flows of €48bn, above our net flow target of >4%1
- Continued cost control despite investments in growth and transformation initiatives
- Adjusted cost income ratio improved from 64.5% in 2020 to 58.1% in 2021
- Increasing absolute dividend proposed to our shareholders
MEDIUM-TERM TARGETS ON TRACK
TARGETS | Target 2024 | FY 2021 | |
Sustainable
adjusted60%58.1%
CIR
Net flows | >4%1 | 6.0% |
1 % of beginning of period (BoP) AuM on average in the medium-tern
DWS Group | Q4 & FY 2021 preliminary results | _ | / 2 |
Investor Relations | January 27, 2022 | ||
FINANCIAL PERFORMANCE SNAPSHOT - Q4 2021
Exceptional performance fee driving higher revenues and profit before tax
AUM (€BN)
Net flows | 13.6 | 12.0 | 15.0 |
(€bn) | |||
Net flows | 8.3 | 10.0 | 7.9 |
ex Cash | |||
+17% | +5% | ||
(€bn) | |||
ADJUSTED REVENUES (€M)
Manage- | |||
ment fee 28.3 | 27.6 | 27.7 | |
margin | |||
(bps) | +32% | +20% | |
793
880928
797
605664
Q4-20 | Q3-21 | Q4-21 |
Q4-20 | Q3-21 | Q4-21 |
ADJUSTED COSTS (€M) | ADJUSTED PROFIT BEFORE TAX (€M) | |||||||||||||||||
Adjusted | 64.9 | 59.2 | 53.1 | |||||||||||||||
CIR (%) | ||||||||||||||||||
+8% | +8% | +76% | +38% | |||||||||||||||
424 | 373 | |||||||||||||||||
393 | 393 | |||||||||||||||||
271 | ||||||||||||||||||
212 | ||||||||||||||||||
Q4-20 | Q3-21 | Q4-21 | Q4-20 | Q3-21 | Q4-21 |
Note: Throughout this presentation totals may not sum due to rounding differences
DWS Group | Q4 & FY 2021 preliminary results | _ | / 3 |
Investor Relations | January 27, 2022 | ||
FINANCIAL PERFORMANCE SNAPSHOT - FY 2021
Record results deliver 43 percent increase in adjusted PbT
AUM (€BN)
Net flows | 30.3 | 47.7 | |
(€bn) | |||
Net flows | 10.8 | 41.7 | |
ex Cash | +17% | ||
(€bn) | |||
928
793
FY 2020 | FY 2021 |
ADJUSTED REVENUES (€M)
Management
fee margin28.327.8
(bps)
+22%
2,720
2,237
FY 2020 | FY 2021 |
ADJUSTED COSTS (€M) | ADJUSTED PROFIT BEFORE TAX (€M) | |||
Adjusted | 64.5 | 58.1 | ||
CIR (%) | ||||
+10% | ||||
1,580 | ||||
1,442 | +43% | |||
1,140
795
FY 2020 | FY 2021 | FY 2020 | FY 2021 |
DWS Group | Q4 & FY 2021 preliminary results | / 4 | |
Investor Relations | January 27, 2022 | ||
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DWS Group GmbH & Co. KgaA published this content on 27 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2022 06:08:06 UTC.
