Record Q4 - 2024 sales grow by 29%
JDC Group AG (ISIN DE000A0B9N37, Open Market, JDC GY) has concluded a successful financial year with record quarterly revenues of € 62.6 million (+28.4%). Annual turnover grew by 28.6%, of which more than 15 percentage points were purely organic. EBIT rose disproportionately by 49.4% - driven by the expansion of the EBIT margin to 3.9% (3.4%). We expect the margin to improve further in the coming years - the scaling effect (e.g. through the use of AI) more than compensates for the effects of intense competition. The combination of (organic) growth and the scaling of the company's own platform makes the JDC share an attractive investment in our view, with an EV/Sales2025 of 1.18 (peer group: 2.3).Our updated DCF and peer valuation implies a Fair Value of € 28.65 per share. We reiterate our “Buy“ rating.
JDC Group AG. JDC Group AG, formerly Aragon AG, is a Germany-based financial services company that offers brokerage financial products and consultancy services. The Company's business is divided into two business segments: Advisory and AdvisorTech. The Advisory segment provides financial products of its subsidiaries Jung, DMS & Cie. and FiNUM to end customers via independent consultants, brokers and financial service providers. In addition, this segment also operates a managed portfolio of investment funds, closed-end funds, certificates, insurance policies and other financial products. The AdvisorTech segment provides information technology (IT) and management consulting services. The Company is active in Germany and Austria. JDC Group AG operates Jung, DMS & Cie, FiNUM. Private Finance AG (Austria), FiNUM Private Finance AG (Germany) and FiNUM. Finanzhaus AG as subsidiaries.
Since 2007, BankM AG (Frankfurt am Main, Germany) is the partner of small and medium-sized enterprises and specializing in capital market financing with its experienced, interdisciplinary team. SME customers benefit from individual service and rapid access to selected investors that fit their needs. BankM's services include capital market advisory, arranging IPOs and capital increases for equity financing, debt advisory and debt capital mediation, designated sponsoring and research as well as M&A, hereby specializing in the identification of suitable strategic partners in China.
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