JDC Group AG · XETR:JDC
JDC — FY2021 Earnings Presentation
20 slides from JDC's earnings presentation, Mar 8, 2022
Slide 1: Earnings Call FY 2021: Above Expectations
EARNINGS CALL FY 2021: Above Expectations Dr. Sebastian Grabmaier (CEO) Ralph Konrad (CFO) JDC Group AG 8. März 2022 1
Slide 2: JDC's Earnings Call presented by
JDC‘s Earnings Call presented by Dr. Sebastian Grabmaier (CEO) Ralph Konrad (CFO) Responsible for Strategy, Sales, Responsible for IT, Operations and Products, IR/PR & Data Security Finance JDC Group AG 8. März 2022 2
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 3.8M contracts on the platform. Next to increasing back office efficiency through digitalisa
Slide 4: FY 2021 Highlights
FY 2021 HIGHLIGHTS • FY 2021 with very satisfying development Turnover • Turnover growth FY 2021 + 19.5% to 146.8m EUR +20% • EBITDA rises from 5.1 to 8.3m EUR (+62.8%) • Long term growth path - growth accelerating 122.8M 146.8M Historical development turnover and EBITDA in million EUR 160 9 +63% 8
Slide 5: Composition of turnover growth & turnover
Composition of turnover growth & turnover Turnover development FY 2021 Turnover split FY 2021 0.4M 6.0M -4.8% 18.4M +20.2% 24.3% IFA business 146.8M +18.0% Major 2.4% customers 122.8M Direct clients 15.5% 64.5% Advisory FY 2020 Advisortech Advisory Holding/IC FY 2021 • Strong growth of traditional I
Slide 6: FY 2021 in Numbers – Group
FY 2021 FY 2021 IN NUMBERS – GROUP Q4 2021 FY 2021 vs. FY FY vs. Turnover in million EUR Q4 2021 Q4 2020 19.5% 2021 2020 Q4 2020 FY 2020 Revenues 43.8 36.4 20.4% 146.8 122.8 19.5% 122.8M 146.8M → Advisortech 36.7 30.9 18.8% 121.0 102.6 18.0% → Advisory 9.5 8.4* 13.1% 35.6 29.7* 20.2% FY 2020 FY 2021
Slide 7: FY 2021 in Numbers – Advisortech
FY 2021 FY 2021 IN NUMBERS – ADVISORTECH Q4 2021 FY 2021 ADVISORTECH Q4 2021 Q4 2020 vs. FY FY vs. Turnover 2021 2020 18.0% Q4 2020 FY 2020 Revenues 36.7 30.9 18.8% 121.0 102.6 18.0% 121.0M 102.6M Gross profit margin 9.2 6.8 34.7% 31.0 25.7 20.5% Depreciation and FY 2020 FY 2021 -1.3 -0.9 -42.3% -4.
Slide 8: FY 2021 in Numbers – Advisory
FY 2021 FY 2021 IN NUMBERS – ADVISORY Q4 2021 FY 2021 vs. FY FY vs. Turnover ADVISORY Q4 2021 Q4 2020 2021 2020 Q4 2020 FY 2020 20.2% Revenues 9.5 8.4* 13.1% 35.6 29.7* 20.2% 29.7M 35.6M Gross profit margin 3.9 2.8 39.8% 11.3 8.8 28.9% Depreciation and FY 2020 FY 2021 -0.2 -0.2 7.8% -1.1 -0.9 -17.3%
Slide 9: Cash & Liabilities
FY 2021 CASH & LIABILITIES HY1 9M FY Net Cash 31.12.2020 -7.6M First - 19.5M installment 14.6M 21.9M 4. Rights issue to 9.5M M&M, initial VKB 10.6m, 2.4M investment - 19.4M solid EGV and solid cashflows, operating CF - 19.4M -4.8M interest paid - 9.9M 1.1m, deferred payments for Interest Interest pu
Slide 10: Further Facts
FY 2021 FURTHER FACTS Bond 2019/2024 Development of share price 4. Quote: 101.00 % (Mar 07, 2022) Price: 20.30 EUR (Mar 07, 2022) Volume: 25,000,000 EUR 505,202 own shares coupon: 5.5% p.a Purchase price 6.10 per share ISIN: DE000A2YN1M1 Reserves 7.2M / Share value 10.3M JDC Group AG 8. März 2022 10
Slide 11: Spotlight German Bancassurance Market
Spotlight German Bancassurance Market JDC Group AG 8. März 2022 11
Slide 12: German Banking System: Banking Pillars and Main Insurers
German Banking System BANKING PILLARS AND MAIN INSURERS German banking system Private Banks Savings Banks Cooperative Banks e.g Commerzbank, Deutsche Bank, ING DiBa 380 banks 870 banks 390 banks 13,000 branches 10,500 branches 4,500 branches Public Insurers Private Insurers, mainly: - VKB Cooperativ
Slide 13: German Banking System: Savings Banks and Others
German Banking System SAVINGS BANKS AND OTHERS Ranking by number of customers (mn) 55 50 • Savings banks with the most customers by far, 45 cooperative banks second 35 30 customers • Savings banks network more 25 21,7 20 than twice as big as 18.4 members 15 Commerzbank or Deutsche 9,3 Bank 6,1 4,1 4
Slide 14: German Banking System: Banking Pillars and Main Insurers
German Banking System BANKING PILLARS AND MAIN INSURERS German banking system Savings Banks 380 banks 13,000 branches Public Insurers - VKB and others using the same frontend and tech-stack - Provinzial - S-Versicherung - VGH and smaller public insurers Rapidly growing third party insurance business
Slide 15: The Ten Largest Public Primary Insurance Groups in Germany
The Ten Largest Public Primary Insurance Groups IN GERMANY Gross premium Insurance Group Business Area Legend Schleswig- income in Hollstein Mecklenburg- mil. euros Western Hamburg Pomerania Konzern 9.358 Bavaria, Palatinate, Saarland, Berlin, Versicherungskammer Brandenburg Bremen Provinzial Konzer
Slide 16: German Banking System: Cooperative Banks
German Banking System BANKING PILLARS AND MAIN INSURERS German banking system Cooperative Banks • contract for 5 years 870 banks • Hybrid sales model for agents • Full JDC whitelabel using app and CRM 10,500 branches • Pilot with 4 major banks • 12 months pilot with rollout mandate in cooperation wi
Slide 17: German Banking System: Private Banks
German Banking System BANKING PILLARS AND MAIN INSURERS German banking system Private Banks e.g Commerzbank, Deutsche Bank, ING DiBa 390 banks 4,500 branches • Most successful multi-banking Private Insurers, mainly: app in Germany - Allianz (Commerzbank) • Already 500.000+ app-users - Axa (ING DiBa)
Slide 18: Guidance 2022
Guidance 2022 Achievements 2021 Guidance 2022 Turnover Turnover 146.8 million 165 to 175 million EBITDA EBITDA 8.3 million >11 million Goals • Successful rollout of further savings banks in the Provinzial region 2022 • Onboarding of other public insurers (e.g. VKB) • Leverage existing partnerships a
Slide 19: Thank you for your attention!
Thank you for your attention! JDC Group AG 8. März 2022 19
Slide 20: 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