Jdc Group Ag · XETR:JDC
Jdc — Investor Presentation (May 2024)
45 slides from Jdc's investor presentation, May 15, 2024
Slide 1: JDC Group AG Company Presentation to Investors
JDC GROUP AG Company Presentation to Investors May 15th, 2024 JDC Group AG 13 May 2024 1
Slide 2: JDC presented by Dr. Sebastian Grabmaier (CEO)
JDC presented by Dr. Sebastian Grabmaier (CEO) • Co-Founder • Strategy • Products • Investor/Public Relations • Human Resources JDC Group AG 13 May 2024 2
Slide 3: About JDC
About JDC JDC Group AG 13 May 2024 3
Slide 4: Platform technology
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 5.0M contracts on the platform. Direct Clients Next to increasing back-office efficiency thr
Slide 5: Insurance Market Germany
Insurance Market Germany HIGH INSURANCE DENSITY WITH 17BN IN COMMISSION FOR INTERMEDIARIES IN P&C ALONE EUR EUR 473m 17bn insurance contracts 223bn P&C-commission paid in Germany (2022)* in premiums paid to to intermediaries in insurers in 2022* 2019* 41.5m German households with Still a very do
Slide 6: Aggregation business model
Aggregation business model INSURANCE AS THE OPPORTUNITY Example: Bank with 150,000 customers 150,000 customers allesmeins App EUR 36.75 million Recurring portfolio commission per year 150,000 customers x 7 contracts x EUR 35,-* Insurance premiums are already paid out of customers‘ accounts. They jus
Slide 7: JDC Group: brands and services across the value chain
JDC Group AS A PLATFORM, OUR BRANDS & SERVICES COVER THE ENTIRE VALUE CHAIN Technical Customer and Broker Direct Clients (Exclusive) Platform Frontend Online Platform Sales Organisation ADVISORTECH ▪ B2B2C-Sales of financial products ▪ Modular white-label ▪ Comprehensive portal for ▪ Independent, ho
Slide 8: Economics
Economics BUSINESS MODEL Business model Commission participation pays premium Client Insurer Insurer 1 commission payment concludes contract 100% handle contract pays information commission Broker 3 4 JDC 2 pays commission commission forwarding handles contract closure 5 about 75% JDC Broker JDC Gro
Slide 9: JDC Tech-Stack
JDC Tech-Stack JDC Group AG 13 May 2024 9
Slide 10: Functions at a glance
FUNCTIONS AT A GLANCE Needs analysis Lebenssituation Kranken-versicherung • Match with portfolio Wohnsituation Tätigkeit • Recommendation of existential / Display and aggregate obligatory insurance products Fahrzeuge Bedarfsanalyse Freizeit-aktivitäten insurance contracts Haustiere Bauabsichten • Co
Slide 11: App & comparison tools
App & comparison tools B2C READY IN 7 P&C INSURANCE LINES JDC Group AG 13 May 2024 11
Slide 12: iCRM – Web based Customer Relationship Management Program
iCRM – Web based Customer Relationship Management Program FIRST IN CLASS JDC Group AG 13 May 2024 12
Slide 13: Interfaces to all leading comparison tools in the market
Interfaces to all leading comparison tools in the market FOR INTERMEDIARIES Landingpages or SSO-Access to tools of insurance companies Comparision Tool for IFAs Product segment (> 120 tools, free configuration) F&B / M&M Life & Health ACIO Health supplement Mr. Money P&C nafi Car ATweb Investment/AI
Slide 14: Agency integration
Allianz @) Sparda-Bank vPV) wD “gency integration
Slide 15: Example: Sparda – White Label
Example: Sparda – White Label COMPLETE SOLUTION WITH OWN COMPARISON PORTAL Integrated insurance platform with administration and optimization of all contracts Optional and individual JDC Group AG 13 May 2024 15
Slide 16: Example: Sparkasse (Savings Bank) – White Label
Example: Sparkasse (Savings Bank) – White Label JDC Group AG 13 May 2024 16
Slide 17: Actual Target Clients / Target Sales Channels
JDC: Actual Target Clients/ Target Sales Channels ALL SALES CHANNELS/ ALL KINDS OF INTERMEDIARIES Account Brokers/ Sales Corporate Insurance Segment Bancassurance Organisations Brokers Companies Bavaria Wirtschaftsagentur 1st Level BI Secura Versicherungsservice >200 Savings Banks > 1,200 Agencies –
Slide 18: Life Cycle of JDC's Key Accounts
Life Cycle of JDC’s Key Accounts SEVEN EXAMPLES Sales Cycle Ramp Negotiation Project Up & Pilot Optimize & Organic • Majority of JDC‘s key & Contract Effort Phase Roll Out Growth accounts is still in the Ramp- Signature Up or in the beginning of the Roll-Out phase • Growth contribution of key accoun
Slide 19: JDC Figures Q1 2024
JDC Figures Q1 2024 JDC Group AG 13 May 2024 19
Slide 20: FY 2023
FY 2023 • After a very strong fourth quarter with a turnover growth of >20%, JDC is back on the double Turnover digit growth path: turnover whole year 2023 +10% +10% • Strong outperformance of the insurance segment overcompensates the weaker sectors, which are recovering fast in 2024 156.1M 171.7M •
Slide 21: Q1 2024
Q1 2024 • After a very strong fourth quarter 2023 with a turnover growth at a growth rate of more than Turnover 20%, JDC could add another record quarter: At a growth rate of almost 22 percent, JDC Group +22% for the first time achieved revenues of more than 50 million EUR • Next to the strong insur
Slide 22: Q4/FY 2023 in numbers – Group
FY 2023 Q4/ FY 2023 IN NUMBERS – GROUP Q4 2023 FY 2023 FY FY Turnover in million EUR Q4 2023 Q4 2022 vs. vs. 10.0% 2023 2022 Q4 2022 FY 2022 Revenues 48.8 40.3 21.2% 171.7 156.1 10.0% 156.1M 171.7M → Advisortech 42.4 34.9 21.6% 150.8 132.9 13.5% → Advisory 9.6 8.3 16.1% 33.2 34.7 -4.3% FY 2022 FY 20
Slide 23: Q1 2024 in numbers – Group
Q1 2024 Q1 2024 IN NUMBERS – GROUP in million EUR Q1 2024 Q1 2023 Q1 2024 vs. Turnover 21.6% Q1 2023 Revenues 53.3 43.8 21.6% 43.8M 53.3M → Advisortech 48.3 39.4 22.6% → Advisory 8.7 8.2 6.8% Q1 2023 Q1 2024 → Holding/IC -3.7 -3.8 0.9% EBITDA 27.7% Gross profit 15.6 13.0 20.4% EBITDA 4.1 3.2 27.7% 3
Slide 24: Strong growth in all product groups
Strong growth in all product groups Turnover development Q1 2024 Our Investment and Financing activities 5.1M are revived and back on growth path. 4.4M +18% Overall we have a growth about 34% +34% from Q1 23 to Q1 24 53.3M 43.8M In the insurance sector we also have our strong and ongoing growth of 1
Slide 25: Composition of turnover growth & turnover split
Composition of turnover growth & turnover split Turnover development Q1 2024 Advisortech turnover split Q1 2024 2.1% 0.5M 2.9M +6.8% IFA 6.0M business +29.1% 26.6% 53.3M +21.1% Major customers 43.8M 71.3% Direct clients IFA Major Q1 2023 Advisory Q1 2024 business customers • Direct clients with stab
Slide 26: Quarterly comparison shows a strong start into 2024
Quarterly comparison shows a strong start into 2024 The QoQ comparison normally shows 15 to 20% turnover growth from Q1 to Q1. From Q1 2023 to Q1 2024 revenues increased by 21.6% 60.000 + 21.6% 50.000 + 1.4% + 20.2% 40.000 + 14.4% 30.000 20.000 10.000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q
Slide 27: Q4/FY 2023 in numbers – Advisortech
FY 2023 Q4/ FY 2023 IN NUMBERS – ADVISORTECH Q4 2023 FY 2023 FY FY Turnover ADVISORTECH Q4 2023 Q4 2022 vs. vs. 13.5% 2023 2022 Q4 2022 FY 2022 Revenues 42.4 34.9 21.6% 150.8 132.9 13.5% 132.9M 150.8M Gross profit 12.8 10.1 26.7% 41.3 37.1 11.4% Depreciation and FY 2022 FY 2023 -1.3 -1.1 -13.7% -4.3
Slide 28: Q1 2024 in numbers – Advisortech
Q1 2024 Q1 2024 IN NUMBERS – ADVISORTECH ADVISORTECH Q1 2024 Q1 2023 Q1 2024 vs. Turnover 22.6% Q1 2023 Revenues 48.3 39.4 22.6% 39.4M 48.3M Gross profit 12.6 10.3 22.4% Depreciation and -1.2 -1.0 -18.4% Q1 2023 Q1 2024 amortization Personnel expenses -5.7 -4.8 -17.6% Other operating EBITDA 27.9% -2
Slide 29: Q4/FY 2023 in numbers – Advisory
FY 2023 Q4/ FY 2023 IN NUMBERS – ADVISORY Q4 2023 FY 2023 FY FY Turnover ADVISORY Q4 2023 Q4 2022 vs. vs. 2023 2022 -4.3% Q4 2022 FY 2022 Revenues 9.6 8.3 16.1% 33.2 34.7 -4.3% 34.7M 33.2M Gross profit 3.8 3.0 28.6% 11.7 11.1 5.7% Depreciation and FY 2022 FY 2023 -0.3 -0.4 12.9% -1.2 -1.3 5.2% amort
Slide 30: Q1 2024 in numbers – Advisory
Q1 2024 Q1 2024 IN NUMBERS – ADVISORY ADVISORY Q1 2024 Q1 2023 Q1 2024 vs. Turnover Q1 2023 6.8% Revenues 8.7 8.2 6.8% 8.7M 8.2M Gross profit 3.0 2.7 12.5% Depreciation and Q1 2023 Q1 2024 -0.3 -0.3 6.4% amortization Personnel expenses -1.5 -1.2 -23.2% EBITDA 10.2% Other operating -0.9 -0.9 1.3% exp
Slide 31: Q1 2024 Cash Flow Statement
Q1 2024 CASH FLOW STATEMENT 01/2024 01/2023 Q1 2024 in kEUR – 03/2024 – 03/2023 vs. Q1 2023 Strong cash flow from Cash and cash equivalents at the beginning operating activities (4m) in Q1 26,362 16,672 9,690 of the period Increased Investment activities Cash flow from operating activities 3,999 4,0
Slide 32: JDC platform activity 2024 at all-time high levels
JDC platform activity 2024 at all-time high levels Overall Platform activity with an All-Time-High! – driven by the insurance sector # of orders up more than + 12% # of contract transfers about +60% Annual net premium on the JDC platform is growing constantly and reached recently 1.2bn EUR +
Slide 33: Guidance 2024
Guidance 2024 Achievements 2023 Guidance 2024 Turnover Turnover On track 171.7 million 205 to 220 million EBITDA EBITDA On track 11.7 million 14.5 to 16 million • Integration of Top Ten Group Goals • Relevant turnover and gross margin from Summitas companies 2024 • Refocus on smaller IFAs – Leverage
Slide 34: Guidance 2024
Guidance 2024 Achievements Q1 Guidance 2024 Turnover Turnover On track 53.3 million 205 to 220 million EBITDA EBITDA On track 4.1 million 14.5 to 16 million • Integration of Top Ten Group Goals • Relevant turnover and gross margin from Summitas companies 2024 • Refocus on smaller IFAs – Leverage the
Slide 35: Spotlights
Spotlights: Update on important projects & customers: - Savings Banks - Summitas - Top Ten - Economies of Scale JDC Group AG 13 May 2024 35
Slide 36: Update on important projects & customers
Update on important projects & customers SAVINGS BANKS/EGV – >150.000 CONTRACTS SINCE OCT. 27TH 2022 JDC Group AG 13 May 2024 36
Slide 37: Summitas
Summitas SUMMITAS GROUP HAS SUCCESSFULLY EXECUTED FIRST TRANSACTIONS/ TEAM COMPLETE 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 Austrian commercial b
Slide 38: Acquisition of TopTen Financial Network Group
Acquisition of TopTen Financial Network Group IDEAL ADDITION TO THE JDC-PLATFORM – ANTI-CYCLICAL FOR A FAVORABLE PRICE • Plus of approx. EUR 20m in revenues (almost all of them recurring). Date of first consolidation in December 2023 (after lengthy FMA owner control procedure) • Approx. up to 1m in
Slide 39: Economies of Scale
Economies of Scale JDC IS CONSTANTLY IMPROVING ITS SCALING EFFECTS • Total Costs are increasing modestly. • Increasing gross margin leads to a disproportional development of earnings and relevant KPIs JDC Group AG 13 May 2024 39
Slide 40: JDC on Capital Market
JDC on Capital Market JDC Group AG 13 May 2024 40
Slide 41: JDC Group – stock market data
JDC Group – stock market data Shareholder structure Own shares 1.0% Provinzial Management 6% 11.2% Shares Outstanding 13,668,461 Great West 26.9% ISIN DE000A0B9N37 Other Shareholders 48.9% Bloomberg JDC:GR Current share EUR 22.80 price as of VKB May 10th, 2024 6% Market Cap EUR 312m Average daily tr
Slide 42: Further facts: share price development and bond 2023/2028
Q1 2024 FURTHER FACTS Development of share price Bond 2023/2028 4. Share price (XETRA): 22.80 EUR (May 10th, 2024) Quote (Tradegate): 104.38 % (May 10th, 2024) 144,811 own shares (as of May 9th, 2024) Volume: 20,000,000 EUR Purchase price 19.83 EUR per share coupon: 7.0 % p.a Reserves >500k / Share
Slide 43: Sustainability Report JDC Group AG
Sustainability Report JDC Group AG JDC IS CARBON NEUTRAL AS EARLY AS 2022 − JDC Group AG voluntarily published the first sustainability report for the year 2022 − Annual update − The management board has formulated a sustainability strategy, which will be continuously developed in the next years − P
Slide 44: Thank you for your attention!
Thank you for your attention! JDC Group AG 13 May 2024 44
Slide 45: 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