FRANKFURT (dpa-AFX) - Deutsche Bank's fund subsidiary DWS is optimistic about the future after a good start to the current year. "We are doing everything we can to achieve the financial targets we have set ourselves for 2025," said CEO Stefan Hoops when presenting the figures for the first quarter. At the top of the list is an increase in earnings per share to EUR 4.50, which is significantly more than last year. Based on the number of shares of 200 million, this would mean a surplus of 900 million euros. In 2023, the profit was just over 550 million euros.

The target is to be achieved by increasing earnings, eliminating one-off costs and increasing efficiency. In the first three months, profit increased by five percent to 146 million euros compared to the same quarter of the previous year. Adjusted for special effects, earnings before taxes rose by twelve percent to 231 million euros. Income increased by five percent to 653 million euros. Income was slightly better than experts had expected. The adjusted pre-tax profit fell slightly short of expectations.

In contrast, the net inflow of funds in long-term assets under management of 7.9 billion euros was a positive surprise. Assets under management climbed to a record EUR 941 billion in the first three months - twelve percent more than at the end of March 2023. Almost 90 percent of assets under management were attributable to long-term business. DWS aims to slightly increase assets under management and earnings per share in the current year./zb/he/stk