JDC Group AG · XETR:JDC
JDC — FY2020 Earnings Presentation
21 slides from JDC's earnings presentation, Mar 8, 2021
Slide 1: Earnings Call FY 2020: Inflection point reached
EARNINGS CALL FY 2020: Inflection point reached Dr. Sebastian Grabmaier (CEO) Ralph Konrad (CFO) JDC Group AG March 08, 2021 1
Slide 2: JDC's Earnings Call presented by
JDC‘s Earnings Call presented by Dr. Sebastian Grabmaier (CEO) Ralph Konrad (CFO) Strategy, Sales, Products, IR/PR Finance, IT, Operations JDC Group AG March 08, 2021 2
Slide 3: About JDC
About JDC JDC Group AG March 08, 2021 3
Slide 4: Platform Technology
Platform Technology MAKING GERMAN INSURANCE DIGITAL JDC‘s platform is a market leading solution for the administration and processing of financial products and the #1 for insurance contracts. Currently there are 3.4m contracts on the platform. Direct Clients Next to increasing back office effi
Slide 5: JDC Group: brands and services cover the entire 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 ADVISORY ▪ B2B2C-Sales of financial products ▪ Modular white-label ▪ Comprehensive portal for ▪ Indepe
Slide 6: Aggregation business model
Aggregation business model INSURANCE AS THE OPPORTUNITY Example: Bank with 150,000 customers 150,000 customers allesmeins App EUR 33.6 million Recurring portfolio commission per year 150,000 customers x 7 contracts x EUR 32,-* Insurance premiums are already paid out of customers‘ accounts. They just
Slide 7: Insurance Market Germany
Insurance Market Germany HIGH INSURANCE DENSITY WITH 17BN IN COMMISSION FOR INTERMEDIARIES EUR EUR 437m insurance contracts 217bn 17bn held by Germans in premiums paid to commission paid to insurers in 2019 intermediaries in 2019 41.5m German households with Still a very domestic and Contracts
Slide 8: FY 2020
FY 2020 JDC Group AG March 08, 2021 8
Slide 9: FY 2020 Highlights
FY 2020 HIGHLIGHTS FY 2020 within guidance Historical development turnover in million EUR 140 +10% Turnover growth despite corona impact + 10.2% to EUR 122.8m 120 +17% +12% 100 +4% +8% 80 EBITDA begins to scale despite relevant one off costs 2020. 60 - Segment Advisortech: Relocation and Setup Home
Slide 10: Composition of turnover growth & turnover split
Composition of turnover growth & turnover split Turnover development 2020 Turnover split 2020 0.9m 0.3m 4.1m +3.2% -8.0% 3.3% 6.5m +25.2% IFA business 122.8m +9.0% 19.8% 111.5m Key Accounts 76.9% Direct clients 2019 IFA Key Direct Advisory 2020 business Accounts clients JDC Group AG March 08, 2021 1
Slide 11: Growth contribution in the Advisortech segment
Growth contribution in the Advisortech segment IFA business Key Accounts Direct Clients increase from EUR 72.4m to 78.9m increase from EUR 16.2m to 20.3m is churning according to amortization +9.0% +25.2% -8.0% 72.4m 78.9m 16.2m 20.3m 3.7m 3.4m 2019 2020 2019 2020 2019 2020 Solid growth of tradition
Slide 12: Life Cycle of JDC's Key Accounts
Life Cycle of JDC’s Key Accounts THREE 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 13: 2020 in Numbers – Group – Actual [and Adjusted]
FY 2020 2020 IN NUMBERS – GROUP – ACTUAL [AND ADJUSTED] Q4 Q4 Q4 2020 FY FY FY 2020 in million EUR 2020 2019 vs. 2019 2020 2019 vs. 2019 • FY: 10% growth leads to Revenues 36.4 31.9 13.9% 122.8 111.5 10.2% 22.5% [39.3%] scale in EBITDA → Advisortech 30.9 25.7 19.9% 102.6 92.3 11.2% • Strong Q4 with
Slide 14: 2020 in Numbers – Advisortech
FY 2020 2020 IN NUMBERS - ADVISORTECH - ACTUAL [AND ADJUSTED] Q4 Q4 Q4 2020 FY FY FY 2020 ADVISORTECH • FY: 11% growth leads to 2020 2019 vs. 2019 2020 2019 vs. 2019 upscale in EBITDA of 25.3% Revenues 30.9 25.7 19.9% 102.6 92.3 11.2% [30.5%] Gross profit margin 6.8 5.6 22.2% 25.7 23.9 7.5% • Very s
Slide 15: 2020 in Numbers – Advisory
FY 2020 2020 IN NUMBERS – ADVISORY - ACTUAL [AND ADJUSTED] Q4 Q4 Q4 2020 FY FY FY 2020 ADVISORY 2020 2019 vs. 2019 2020 2019 vs. 2019 Revenues 9.6 10.6 -9.9% 30.9 29.9 3.2% • Lockdown becomes visible Gross profit margin 2.8 2.9 -1.6% 8.8 8.2 6.8% in Advisory segment – Turnover declines in Q4, lack D
Slide 16: Spotlight: Provinzial LOI signed
Spotlight: Provinzial LOI signed DEAL WILL SCALE JDC’S PLATFORM MEANINGFULLY IN THE COMING YEARS Proposed Provinzial collaboration is a step-change for JDC‘s platform JDC Group JOINT VENTURE provides tech platform Provides Customer Service ➢ Provinzial is the insurance partner of approx. 120 savings
Slide 17: Further Facts
FY 2020 FURTHER FACTS Cash & Liabilities (EUR) Bond 2019/2024 Share Buyback program 2020 (EUR) + 85 % 11.7m 3.1m 5.7m Purchase Value as 19.3m price of today 7.6m Current quote: 103.00 Current share price: 11.25 EUR Volume: 25m, 5m on own book 505,202 own shares Interest Cash on Net coupon: 5.5% p.a
Slide 18: Guidance & Goals
Guidance & Goals JDC Group AG March 08, 2021 18
Slide 19: Guidance 2021 & Goals 2025
Guidance 2021 & Goals 2025 Guidance 2021 Goals 2025 Turnover EUR 135 to 142 million & Double turnover Multiply EBITDA 2020 2020 EBITDA EUR > 7 million f • JDC will be the leading insurance platform for professional IFAs, banks and other intermediaries • Successfully onboard Provinzial and the first
Slide 20: Thank you for your attention!
Thank you for your attention! JDC Group AG March 08, 2021 20
Slide 21: 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