JDC Group AG confirms preliminary figures 2022

JDC Group AG (ISIN DE000A0B9N37) has published its financial figures for 2022, confirming the preliminary figures published on March 9.

Group revenues increased significantly by 6.3 percent to EUR 156.1 million in 2022 (2021: EUR 146.8 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) grew to EUR 9.0 million (2021: EUR 8.3 million). Earnings before interest and taxes (EBIT) remained stable at EUR 2.9 million (2021: EUR 2.9 million).

In the platform business (Advisortech segment), revenues increased by around 10.0 percent to EUR 132.9 million (2021: EUR 121.0 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) grew to EUR 9.5 million (2021: EUR 7.5 million). Earnings before interest and taxes (EBIT) also improved significantly to EUR 5.0 million (2021: EUR 3.5 million).

The Advisory business unit was particularly affected by consumer reluctance to spend in the fourth quarter. Revenue for the full year fell by 2.7 percent to EUR 34.7 million. EBITDA for the full year fell to EUR 2.6 million from EUR 3.4 million in the previous year. EBIT also fell to EUR 1.3 million.
 

The key financial ratios in 2022 developed as follows:

Key milestones of 2023 to date:

In January 2023, Jung, DMS & Cie. AG signed a purchase agreement to acquire 100% of the shares in Top Ten Investment-Vermittlungs AG and DFP Deutsche Finanz Portfolioverwaltung GmbH (together: Top Ten Financial Network Group). Top Ten uses its own software solutions to manage over EUR 2 billion in investment portfolios for around 1,000 intermediaries in the network, generating largely recurring revenues of around EUR 20 million.

With the help of the software solution acquired in this transaction, JDC will be able to offer its existing clients additional technical offerings in the areas of asset management, liability umbrella solutions and label funds. This transaction thus systematically complements the JDC portfolio in the attractive investment advisory market and makes the JDC platform even more attractive for clients. The deal is expected to close in mid-2023 due to the regulatory required owner control process.
 

"For JDC Group, the year 2022 can be divided into two halves. In the first half of the year, we were able to show significant growth in sales and earnings despite the Ukraine war. In the second half of the year, and especially in the fourth quarter, consumer uncertainty was clearly felt in our Advisory business. But we were able to absorb this uncertainty well in our Advisortech segment by the significant growth of the affiliated partners and could also grow against the market trend in the second half of the year", Ralph Konrad (CFO) explains the figures. "We have started the new year very strongly. With the exception of Real Estate and Financing, we have already seen significant new business growth across the board again in January and February compared to pre-Ukraine levels and are therefore optimistic for 2023."

"2022 was one of the years in which the wheat was separated from the chaff", says Dr. Sebastian Grabmaier, CEO of JDC Group AG. "Our Advisortech division has been growing independently of the market for many years and was even able to significantly improve its results in the fourth quarter in a conceivably poor environment. With the acquisition of the Top Ten Group, we were able to significantly strengthen our investment and asset management division and we also make decisive progress in our strategic projects such as the cooperation with the savings banks. The difficult year 2022 has therefore further strengthened our position compared with our competitors and we are ready for our next growth targets!"

In 2023, the company expects revenues to grow to between EUR 175 million and EUR 190 million and EBITDA to be between EUR 11.5 million and EUR 13.0 million, based on cooperation agreements already signed.

The complete Annual Report 2022 can be found at in the Investor Relations section.

The letter to shareholders for the first quarter of 2023 will be published on May 11, 2023.

About JDC Group AG

JDC Group AG (ISIN: DE000A0B9N37) offers a digital platform for insurance, investment funds and all other financial products and services under the brands Jung, DMS & Cie, allesmeins and Geld.de. By offering and handling all product providers in the financial market with a complete product range and full data and document supply, it creates the perfect workplace for financial intermediaries of all kinds (brokers, agents, corporate brokers, banks, tied agents, fintechs) via its applications and interfaces, and the first true financial home for financial services customers. Via smartphone app, tablet or PC, customers and intermediaries receive a complete overview of the individual insurance and fund portfolio, simple closing routes and transfer options, and also a complete market comparison, so that customers and advisors can optimize the risk and pension portfolio easily and with an ideal benefit-cost ratio. Around 300 well-trained advisors under the FiNUM brand complement the platform offering for affluent and upscale private customers. With more than 16,000 connected platform users, around 1.5 million customers, annual sales of around two billion euros in valuation, a fund portfolio of approx. 5 billion euros and annual insurance premiums of 900 million euros, we are one of the market leaders in German-speaking countries. JDC focuses on sustainability and is committed to ESG criteria: As a digitization service provider, JDC helps to save many tons of paper and makes the daily life of financial intermediaries and customers easier.

Disclaimer:

The board members of JDC Group AG, Dr. Sebastian Grabmaier and Ralph Konrad, are holding a stake in JDC Group AG and have a vested interest in the nature and content of the information provided in this release.