JDC Group AG · XETR:JDC
JDC — Q1 2026 Earnings Presentation
27 slides from JDC's earnings presentation, May 11, 2026
Slide 1: Earnings Call Q1 2026: Success in Challenging Times
EARNINGS CALL Q1 2026 Success in Challenging Times Dr. Sebastian Grabmaier (CEO) Ralph Konrad (CFO) Dr. Ramona Evens (COO) 11 May 2026 JDC Group AG 1
Slide 2: JDC's Earnings Call presented by
JDC‘s Earnings Call presented by Dr. Sebastian Grabmaier (CEO) Ralph Konrad (CFO, CIO) Marcus Rex (CSO, CMO) Dr. Ramona Evens (COO) 2 11 May 2026 JDC Group AG
Slide 3: JDC Group at a Glance
JDC Group at a Glance ADVISORTECH & ADVISORY First Users of AI Geographic focus functionalities DACH Finum Clients advised >85,000 Employees Insurance companies DFP Clients connected >400 FTEs >15,000 >200 End customers Connected Fund volume on served platform users platform >2.5 million >16,000 >€8
Slide 4: Before we start: a macro view
Before we start: a macro view CHALLENGING MACRO ENVIRONMENT IS WEIGHING ON ORGANIC GROWTH Category Indicator Medium-term trend Q1 2026 trend Impact Further deterioration due to Iran GfK Consumer Persistently weak since Consumers crisis & the German Government's Climate inflation shock weak performan
Slide 5: Before we start: a macro view – temporary impact
Before we start: a macro view TEMPORARY IMPACT ON JDC BUSINESS temporary impact Pressure on # of new JDC Broker orders – especially high Higher cancellation Volatile NAV of JDCs premium/high margin rates investment assets Platform business temporary impact lower search volume for JDC Lead financial
Slide 6: Platform activity follows macro influence
Platform activity follows macro influence TEMPORARY IMPACT # of orders grew by + 3% # of contract transfers decreased by - 10% Assets under Management increased by + 9% Annual net premium on the JDC platform increased by +12% +3% -10% +9% +12% # of orders # of contract Assets under Annual ne
Slide 7: Q1 2026: New Record Q1, 74.9m Turnover
Q1 2026 NEW RECORD Q1 • With 75m, Q1 2026 sets a new record high as to turnover in a single quarter, increasing the volume of the already very good Q1 2025 by more than 20 percent Turnover • Development driven by FMKs lead business 20.3% • JDCs platform business is temporarily suffering from multi-c
Slide 8: Q1 2026 in Numbers – Group
Q1 2026 Q1 2026 IN NUMBERS – GROUP Q1 2026 vs. Turnover in million EUR Q1 2026 Q1 2025 Q1 2025 20.3% Revenues 74.9 62.2 20.3% 62.2m 74.9m → Advisortech 65.9 53.8 22.4% Q1 2025 Q1 2026 → Advisory 14.5 13.6 6.6% -5.5 -5.2 -6.0% EBITDA → Holding/IC 61.1% Gross profit 21.3 17.1 24.7% 5.0m 8.1m EBITDA 8.
Slide 9: A Strong Start to 2026!
A STRONG START TO 2026! STRONGEST QUARTER IN JDC’S HISTORY +20% 80.000 70.000 +17% +21% 60.000 50.000 +1% 40.000 30.000 20.000 10.000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 2024 2025 2025 2026 Turnover in thousand EUR 9 11 May 2026 JDC Group AG
Slide 10: Broker platform suffers from economic environment
Broker platform suffers from economic environment GROWTH STEMS FROM JDC‘S NEW LEAD BUSINESS Earnings in investment business are Turnover development Q1 2026 impacted by lower capital markets due to Iran war -0.2m 11.8m -7.2% 1.0m Insurance growth is impacted by +2.6% >100% higher cancellation rates
Slide 11: Composition of turnover growth & turnover split
Composition of turnover growth & turnover split Turnover development Q1 2026 Advisortech turnover split Q1 2026 0.9m IFA business 11.8m +7% 1.3% -1.4m 1.6m -4% +11% >100% 19.9% Major customers 53.0% 62.2m 74.9m Rating, 25.8% Comparison, Lead Business Rating, Direct clients Major Comparison, IFA Q1 2
Slide 12: Q1 2026 in Numbers – Advisortech
Q1 2026 Q1 2026 IN NUMBERS – ADVISORTECH Turnover Q1 2026 vs. in million EUR Q1 2026 Q1 2025 22.4% Q1 2025 Revenues 65.9 53.8 22.4% 53.8m 65.9m Gross profit 17.0 13.0 30.8% Q1 2025 Q1 2026 Depreciation and amortization -1.2 -1.1 -5.7% EBITDA Personnel expenses -6.1 -5.6 -8.8% 62.2% Other operating e
Slide 13: Q1 2026 in Numbers – Advisory
Q1 2026 Q1 2026 IN NUMBERS – ADVISORY Turnover Q1 2026 vs. ADVISORY Q1 2026 Q1 2025 6.6% Q1 2025 Revenues 14.5 13.6 6.6% 13.6m 14.5m Gross profit 4.5 4.2 5.8% Q1 2025 Q1 2026 Depreciation and amortization -0.4 -0.3 -12.2% EBITDA Personnel expenses -1.9 -1.8 -8.1% 0.1% Other operating expenses -1.4 -
Slide 14: Cash Flow Statement
Q1 2026 CASH FLOW STATEMENT 01/2026 01/2025 2026 in kEUR Good cash flow from operating – 03/2026 – 03/2025 vs. 2024 activities. Higher income taxes Cash and cash equivalents at the 36,082 24,654 11,428 relative to 2025, driven by tax beginning of the period payments from the FMK Group Cash flow from
Slide 15: Bonds
Bonds BOND 23/28 NORDIC BOND 25/29 Volume 20,000,000 EUR Volume 70,000,000 EUR (up to 160.000.000 EUR) ISIN DE000A3514Q0 ISIN NO0013618587 Current Quote 101.04% Current Quote 100.84% (Tradegate) as of (Tradegate) as of May 8th, 2026 May 8th, 2026 Coupon 7.0% p.a. Coupon 6.511% p.a. (Euribor +450 BPS
Slide 16: JDC Group at the capital market
JDC Group at the capital market SUPPORTED BY A STABLE, LONG-TERM ORIENTED SHAREHOLDER BASE Share Price Performance Shareholder Base 35 € Free float 30 € 27% 44% 25 € 11% Management 20 € 6% 6% 6% 15 € Shares 13,668,461 10 € Outstanding Share Price EUR 22.60 5€ May 8th, 2026 Market Cap EUR 309m 0€ 201
Slide 17: Spotlights
Spotlights ▪ Peer Transaction Netfonds ▪ Share Buyback ▪ FMK Update ▪ AI Update 11 May 2026 JDC Group AG
Slide 18: Peer transaction
Peer transaction PLATFORM COMPETITOR BOUGHT AT 17.5X EBITDA BY PE-PLAYER JDC JDC Guidance Guidance lower end upper end EBITDA Guidance JDC Group 2026 35,00 38,00 Enterprise Value JDC with peer multiple (17.5x) 612,50 665,00 Net Debt JDC 31.12.2025 60,60 60,60 Equity Value JDC 551,90 604,40 # sha
Slide 19: Share Buyback
Share Buyback SHARE BUYBACK COMPLETED SUCCESSFULLY Share Price Performance We chose a buyback via a public offering - 35 € not a traditional share buyback - because the share price has not risen accordingly 30 € despite very strong operating performance over the past 24 months. 25 € New treasury sha
Slide 20: Update FMK / JDC: Sales Engine up & running
Update FMK / JDC: Sales Engine up & running EVERY SALE IMPROVES THE NEXT ONE IN A FULLY AUTOMATED FEEDBACK LOOP Paid Marketing FMK JDC Sales Team End customer campaigns (individual or business) Search Engines, Social Media, Landing pages, e.g. Finanzfuchs Gen AI tools First 3 new insurance products
Slide 21: FMK: Parallel build-up of business units & income streams
FMK: Parallel build-up of business units & income streams DIRECT SALES CHANNELS HELP TO PREPARE FOR HIGH QUALITY LEADS FOR BROKERS 09/25 01/26 Today 07/26 FMK (Preparation: Recruiting, building Signing Campaigns, Lead infrastructure) Direct Sales Channel Live! Lead Live in July! Realtime FMK JDC Bro
Slide 22: Global AI market developments favour FMK's business model
Global AI market developments favour FMK‘s business model AD-FINANCED BUSINESS MODELS GAIN TRACTION COMPARED TO SUBSCRIPTON BASED MODELS 22 11 May 2026 22
Slide 23: JDC continues as leader in AI development in broker market
JDC continues as leader in AI development in broker market AI PRODUCTS TO SUPPORT BROKERS LAUNCHED, MORE IN PIPELINE ✓ Internal efficiency gains through AI Data extraction, categorization, automated processes (live & ongoing) ✓ Tarif Pilot (live) Portfolio Assessment & Optimization on a glance Real
Slide 24: Guidance
Guidance 11 May 2026 JDC Group AG 24
Slide 25: Guidance 2026
Guidance 2026 FURTHER GROWTH AND MARGIN EXPANSION Goals TURNOVER 300 -330 EBITDA 2026 300 – 330m 35 – 38m • AI as key initiative within the JDC 35 -38 Organization for 2026 250 • Roll Out JDC AI Tool 221 “companion” • DevOps of further AI Tools so support brokers & optimize 172 platform 156 • AI UND
Slide 26: Thank you for your attention!
Thank you for your attention! 11 May 2026 JDC Group AG 26
Slide 27: 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