JDC Group AG · XETR:JDC
JDC — Q3 2023 Earnings Presentation
23 slides from JDC's earnings presentation, Nov 8, 2023
Slide 1: Earnings Call Q3 2023: Double Digit Growth
EARNINGS CALL Q3 2023: Double Digit Growth Dr. Sebastian Grabmaier (CEO) Ralph Konrad (CFO) JDC Group AG 8. November 2023 1
Slide 2: JDC's Earnings Call presented by
JDC‘s Earnings Call presented by Dr. Sebastian Grabmaier (CEO) Ralph Konrad (CFO) • Strategy • IT - Platform • Human Resources • Operations • Products • Finance • Investor/Public Relations • Legal & Compliance • M&A JDC Group AG 8. November 2023 2
Slide 3: Platform technology: Making German Insurance Digital
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 4.6M contracts on the platform. Direct Clients Next to increasing back-office efficiency thr
Slide 4: Strong and accelerating insurance business (+22%!)
Strong and accelerating insurance business (+22%!) Turnover development 9M 2023 As a result of the crisis-related buying 0.4M reluctance of consumers, the turnover +6% in the sector of Investment & Financing 14.0M -7.3M is still down by 17% yoy. 122.9M -17% +22% 115.8M Q1: But this is more than comp
Slide 5: IFA Business is recovering – soon back to double digit growth
IFA Business is recovering – soon back to double digit growth – despite weak first quarter Turnover development 9M 2023 Advisortech turnover split 9M 2023 3.9M -2.8M 1.8% -0.2M -10.7% -9.4% +17.5% IFA 6.8M business 24.0% 122.9M +9.2% Major 115.8M customers Q2: +9.0% 74.2% Direct clients IFA Major Di
Slide 6: 9M 2023 Full Year Guidance Confirmed
9M 2023 FULL YEAR GUIDANCE CONFIRMED • Overall growth in the first 9M held back by weaker performance of the investment/financing Turnover sector – especially in the first quarter +6% • Strong Outperformance of the insurance segment overcompensates the weaker sectors • Strong development of Advisort
Slide 7: Turnover: quarterly comparison shows recovery since Q2
TURNOVER: quarterly comparison shows recovery since Q2 The QoQ comparison normally shows 30% turnover growth from Q3 to Q4. Precondition: normal year end business Development of quarterly turnover (in kEUR) 50.000 45.000 + ca. + ca. 40.000 15% 30% 35.000 + ca. 30% 30.000 25.000 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 8: EBITDA: quarterly comparison shows recovery since Q2
EBITDA: quarterly comparison shows recovery since Q2 The QoQ comparison normally shows a tripling of EBITDA from Q3 to Q4. Precondition: normal year end business Development of quarterly EBITDA (in kEUR) 4000 3000 + 239% + 194% 2000 + 154% 1000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2020
Slide 9: Q3/9M 2023 in numbers – Group
9M 2023 Q3/ 9M 2023 IN NUMBERS – GROUP Q3 2023 9M 2023 9M 9M Turnover in million EUR Q3 2023 Q3 2022 vs. vs. 6.1% 2023 2022 Q3 2022 9M 2022 Revenues 38.3 34.8 10.0% 122.9 115.8 6.1% 115.8M 122.9M → Advisortech 33.4 30.5 9.6% 108.4 98.0 10.7% → Advisory 7.7 8.3 -7.3% 23.6 26.5 -10.7% 9M 2022 9M 2023
Slide 10: Q3/9M 2023 in numbers – Advisortech
9M 2023 Q3/ 9M 2023 IN NUMBERS – ADVISORTECH Q3 2023 9M 2023 9M 9M Turnover ADVISORTECH Q3 2023 Q3 2022 vs. vs. 2023 2022 10.7% Q3 2022 9M 2022 Revenues 33.4 30.5 9.6% 108.4 98.0 10.7% 108.4M 98.0M Gross profit 8.9 8.7 2.5% 28.5 27.0 5.7% Depreciation and 9M 2022 9M 2023 -1.1 -1.2 9.6% -3.1 -3.3 7.9
Slide 11: Q3/9M 2023 in numbers – Advisory
9M 2023 Q3/ 9M 2023 IN NUMBERS – ADVISORY Q3 2023 9M 2023 9M 9M Turnover ADVISORY Q3 2023 Q3 2022 vs. vs. 2023 2022 -10.7% Q3 2022 9M 2022 Revenues 7.7 8.3 -7.3% 23.6 26.5 -10.7% 26.5M 23.6M Gross profit 2.6 2.4 8.9% 7.9 8.1 -2.7% Depreciation and 9M 2022 9M 2023 -0.3 -0.3 1.5% -0.9 -0.9 2.2% amorti
Slide 12: 9M 2023 Cash Flow Statement
9M 2023 CASH FLOW STATEMENT 01/2023 01/2022 9M 2023 in kEUR – 09/2023 – 09/2022 vs. 9M 2022 Very satisfying Cash Flow from operating activities Cash and cash equivalents at the beginning with 7.8m - more than 16,672 21,906 -5,234 of the period doubled in comparison to 9M 2022. Cash flow from operati
Slide 13: Further Facts: Bond 2019/2024 terminated, Bond 2023/2028
9M 2023 FURTHER FACTS Bond 2019/2024 - TERMINATED Bond 2023/2028 4. Quote (Tradegate): 100.95 % (November 7th, 2023) Quote (Tradegate): 99.85 % (November 7th, 2023) Volume: 25,000,000 EUR Volume: 20,000,000 EUR coupon: 5.5% p.a coupon: 7.0 % p.a ISIN: DE000A2YN1M1 ISIN: DE000A3514Q0 JDC Group AG 8.
Slide 14: JDC Group – stock market data
JDC Group – stock market data Shareholder structure Provinzial 5% Management 11.2% Shares Outstanding 13,668,461 Great West 26.9% ISIN DE000A0B9N37 Other Shareholders 50.9% Bloomberg JDC:GR Current share EUR 17.85 price as of VKB November 7th, 2023 6% Market Cap EUR 244m Average daily trading volume
Slide 15: Share price performance contrary to development of KPIs
Share price performance contrary to development of KPIs Oct 22 Oct 23 Change Insurance Assets 900k 1,050k + 16% 24.2.2022 - # of contracts 1,490k 1,725k + 18% Ukraine War # of contract 157k 392k + 150% Change transfers ca. - 30% # of contracts sold 80k 102k +28% 4. JDC Group AG 8. November 2023 15
Slide 16: Spotlights
Spotlights: Sale of treasury shares Update on important projects & customers JDC Group AG 8. November 2023 16
Slide 17: Participation of Provinzial
PARTICIPATION OF PROVINZIAL PROVINZIAL BOUGHT JDC TREASURY SHARES Purchase Number of Average JDC sold treasury shares to Provinzial price shares purchase price Konzern. First Buy Back 3,079,272 505,202 6.10 (08/19 - 07/20) With the participation of VKB and Second Buy Back 3,163,205 181,820 17.40 Pro
Slide 18: Update on important projects & customers
Update on important projects & customers EGV – 100.000 CUSTOMERS SINCE OCT. 27TH SVM at the Provinzial sales conference for savings banks JDC Group AG 8. November 2023 18
Slide 19: Update on important projects & customers: Summitas
Update on important projects & customers SUMMITAS GROUP HAS SUCCESSFULLY EXECUTED FIRST TRANSACTIONS Joint Venture of Bain Capital (65%), Great West (25%), JDC Group (10%) Several 100m EUR (thereof up to 150m equity) will be invested into a roll up investment case to consolidate the German and Austr
Slide 20: Guidance
Guidance JDC Group AG 8. November 2023 20
Slide 21: Guidance 2023 confirmed – lower end expected
Guidance 2023 confirmed – lower end expected Achievements 9M Guidance 2023 Turnover Turnover LOWER 122.9 million 175 to 190 million END EBITDA EBITDA LOWER 6.7 million 11.5 to 13 million END • Further development of bancassurance business Goals • 3 to 5 acquisitions of Summitas and first turnover on
Slide 22: Thank you for your attention!
Thank you for your attention! JDC Group AG 8. November 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