Edison Investment Research - JDC Group AG (JDC) JDC Group - 2024 could turn out to be a very strong year

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Edison Investment Research

Pedro Fonseca

JDC Group - 2024 could turn out to be a very strong year

JDC reported preliminary FY23 results that were broadly in line with estimates, implying an impressive EBITDA generation of €5m in Q4. JDC guides for FY24 revenue growth acceleration to 24% at the midpoint of guidance (€205–220m), compared to 10% revenue growth in 2023. This still seems conservative given the tailwinds from the market environment and the acquisition of Top Ten Financial Network, which will add around 10% of revenue growth alone. The EBITDA margin is also expected to increase based on a guided EBITDA range of €14.5–16.0m

11/03/2024 1 EN

Underlying

JDC Group AG

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.

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DE000A0B9N37 Germany

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Pedro Fonseca

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EQS-News: JDC Group with record revenues: JDC grows by 36.1 percent to more than EUR 52 million in the third quarter

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JDC Group - 2024 could turn out to be a very strong year

JDC Group - On track to reach high-end FY24 sales guidance

EQS-News: JDC Group mit Rekordumsatz: JDC wächst im dritten Quartal um 36,1 Prozent auf über 52 Mio. EUR

EQS-News: JDC Group with record revenues: JDC grows by 36.1 percent to more than EUR 52 million in the third quarter

Accsys Technologies - Upgrading guidance for the full year

Topps Tiles - Market outperformance again in FY24

Nabaltec - Resilience and margin expansion

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