JDC Group AG · XETR:JDC
JDC — Q1 2023 Earnings Presentation
23 slides from JDC's earnings presentation, May 11, 2023
Slide 1: Earnings Call Q1 2023: Platform activity at all-time high, growth is back
EARNINGS CALL Q1 2023: Platform activity at all-time high, growth is back Dr. Sebastian Grabmaier (CEO) Ralph Konrad (CFO) JDC Group AG 11. Mai 2023 1
Slide 2: JDC's Earnings Call presented by
JDC‘s Earnings Call presented by Dr. Sebastian Grabmaier (CEO) Ralph Konrad (CFO) Marcus Rex (New CSO/CMO) Responsible for Strategy, Sales, Responsible for IT, Operations and Starting June 1st: responsible for Products, IR/PR & Data Security Finance Sales & Marketing, Insurance & Mortgage JDC Group
Slide 3: Platform technology
Platform technology MAKING GERMAN INSURANCE DIGITAL JDC‘s platform is a market leader for the administration and processing of financial products and the #1 for insurance contracts. Currently there are 4.3M contracts on the platform. Direct Clients Next to increasing back-office efficiency thr
Slide 4: JDC platform activity at all-time high levels
JDC platform activity at all-time high levels NUMBER OF ORDERS & CONTRACT TRANSFERS IN Q1 2023 Overall Platform activity with an All-Time-High! – driven by the insurance sector Q1 # of orders more than + 25% Q1 # of contract transfers approximately +60% Annual net premium on the JDC platform
Slide 5: The strong insurance sector overcompensates the temporary weakness of the investment sector
The strong insurance sector overcompensates the temporary weakness of the investment sector Turnover development Q1 2023 As a result of the crisis-related buying reluctance of consumers and the lower 0.4M trailer fees in the investment fund +17% -3.0M 3.2M business due to lower market -19% valuation
Slide 6: Q1 2023 Highlights
Q1 2023 HIGHLIGHTS • Overall growth in the first quarter held back by weaker performance of the investment/construction financing sector Turnover • Outperformance of the insurance segment overcompensates the weaker sectors +1% • Q1 EBITDA declines temporarily due to growth-adjusted cost basis, but r
Slide 7: Excursus: Comparison to Q4 2022 shows satisfying development
EXCURSUS: Comparison to Q4 2022 shows satisfying development The QoQ comparison normally shows a small turnover decrease of about 1% from Q4 to Q1 – this is different this year: compared with the previous quarter (Q4 2022), JDC group grew by 9%. Development of quarterly turnover (in kEUR) 50.000 45.
Slide 8: Excursus: Comparison to Q4 2022 shows satisfying development
EXCURSUS: Comparison to Q4 2022 shows satisfying development The Q1 YoY comparison shows a turnover growth of 1%, but compared with the previous quarter (Q4 2022), the group grew by 9%, the advisortech segment by 13% - with a very good scale in profitability GROUP ADVISORTECH ADVISORY Q1 2023 Q1 202
Slide 9: Composition of turnover growth & turnover split
Composition of turnover growth & turnover split Turnover development Q1 2023 Advisortech turnover split Q1 2023 2.6M -0.9M 2.5% -0.1M -0.1M -10.3% -10.4% -0.3% +36.3% IFA business 24.7% 43.8M 43.2M Major customers 72.8% Direct clients IFA Major Direct Q1 2022 Advisory Q1 2023 business customers cust
Slide 10: Q1 2023 in numbers – Group
Q1 2023 Q1 2023 IN NUMBERS – GROUP Q1 2023 vs. Turnover in million EUR Q1 2023 Q1 2022 Q1 2022 +1.4% Revenues 43.8 43.2 1.4% 43.2M 43.8M → Advisortech 39.4 37.1 6.5% → Advisory 8.2 9.1 -10.3% Q1 2022 Q1 2023 → Holding/IC -3.8 -2.9 -29.0% EBITDA Gross profit 13.0 13.1 -1.0% -14.7% EBITDA 3.2 3.7 -14.
Slide 11: Q1 2023 in numbers – Advisortech
Q1 2023 Q1 2023 IN NUMBERS – ADVISORTECH ADVISORTECH Q1 2023 Q1 2022 Q1 2023 vs. Turnover Q1 2022 6.5% Revenues 39.4 37.1 6.5% 37.1M 39.4M Gross profit 10.3 10.2 0.9% Depreciation and -1.0 -1.1 7.5% Q1 2022 Q1 2023 amortization Personnel expenses -4.8 -4.5 -6.4% Other operating EBITDA -2.2 -2.0 -11.
Slide 12: Q1 2023 in numbers – Advisory
Q1 2023 Q1 2023 IN NUMBERS – ADVISORY ADVISORY Q1 2023 Q1 2022 Q1 2023 vs. Turnover Q1 2022 -10.3% Revenues 8.2 9.1 -10.3% 9.1M 8.2M Gross profit 2.7 2.9 -8.0% Depreciation and -0.3 -0.3 1.9% Q1 2022 Q1 2023 amortization Personnel expenses -1.2 -1.3 1.7% Other operating EBITDA -0.9 -0.9 2.2% -24.5%
Slide 13: Q1 2023 Cash Flow Statement
Q1 2023 CASH FLOW STATEMENT 01/2023 01/2022 2023 in kEUR – 03/2023 – 03/2022 Vs. 2022 Strong cash flow from Cash and cash equivalents at the beginning 16,672 21,906 -5,234 operating activities (4m) in of the period Q1 Cash flow from operating activities 4,074 1,986 2,088 4. Cash Flow leads to an inc
Slide 14: Q1 2023 Further Facts: Bond 2019/2024 and share price
Q1 2023 FURTHER FACTS Bond 2019/2024 Development of share price 4. Quote (Tradegate): 102.49 % (May 10th, 2023) Price: 16.90 EUR (May 10th, 2023) Volume: 25,000,000 EUR 687,022 own shares coupon: 5.5% p.a Purchase price 9.09 per share ISIN: DE000A2YN1M1 Reserves 5.4M / Share value 11.6M JDC Group AG
Slide 15: JDC Group – stock market data
JDC Group – stock market data Shareholder structure JDC 5% Management 11.1% Shares Outstanding 13,668,461 Great West 26.9% ISIN DE000A0B9N37 Other Shareholders 51.0% Bloomberg JDC:GR Current share EUR 16.90 price as of VKB May 10th, 2023 6% Market Cap EUR 231m Average daily trading volume approx. 50
Slide 16: Spotlights
Spotlights: Introduction Marcus Rex as new CSO/CMO Update on projects & customers Discussions about an European ban on commissions JDC Group AG 11. Mai 2023 16
Slide 17: Introduction of Marcus Rex (49 years old)
Introduction of Marcus Rex (49 years old) • 25 years of experience in various management positions in the banking and financial services sector - setting up and managing b2b, b2b2c and b2c-oriented companies and sales and service units • Senior Vice President at Interhyp AG - responsible for setting
Slide 18: Update on important projects & customers
Update on important projects & customers SATISFYING PROGRESS Summitas – Operations up and running, change in Management, first transaction will be closed shortly. Target 2023: 3 to 4 acquisitions. Finanzguru – contract renewed. Successful cooperation transferred into a long-term agreement. Finanzgur
Slide 19: No EU-Commission Ban but hidden blow against brokers
No EU-Commission Ban but hidden blow against brokers THE COMMISSION BAN IS OFF THE TABLE FOR THE TIME BEING. BUT A HIDDEN CLAUSE WILL RESULT IN A SHIFT AWAY FROM BROKERAGE IN FAVOR OF AGENTS/ MGAS FAZ April 30th,2023 - The EU Commission is dropping its intention to propose a full commission ban for
Slide 20: Guidance
Guidance JDC Group AG 11. Mai 2023 20
Slide 21: Guidance 2023 confirmed
Guidance 2023 confirmed Achievements Q1 Guidance 2023 Turnover Turnover 43.8 million 175 to 190 million EBITDA EBITDA 3.2 million 11.5 to 13 million • Further development of bancassurance business Goals • 3 to 5 acquisitions of Summitas and first turnover on the JDC platform 2023 • Successful market
Slide 22: Thank you for your attention!
Thank you for your attention! JDC Group AG 11. Mai 2023 22
Slide 23: Disclaimer
Disclaimer This presentation does not address the investment objectives or financial situation of any particular person or legal entity. Investors should seek independent professional advice and perform their own analysis regarding the appropriateness of investing in any of our securities. While JDC