JDC Group AG · XETR:JDC
JDC — Q3 2022 Earnings Presentation
22 slides from JDC's earnings presentation, Nov 15, 2022
Slide 1: Earnings Call Q3 2022: Growth in a challenging environment
EARNINGS CALL Q3 2022: Growth in a challenging environment Dr. Sebastian Grabmaier (CEO) Ralph Konrad (CFO) JDC Group AG 15. November 2022 1
Slide 2: JDC's Earnings Call presented by
JDC‘s Earnings Call presented by Dr. Sebastian Grabmaier (CEO) Ralph Konrad (CFO) Responsible for Strategy, Sales, Responsible for IT, Operations and Products, IR/PR & Data Security Finance JDC Group AG 15. November 2022 2
Slide 3: 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 4.0M contracts on the platform. Direct Clients Next to increasing back-office efficiency thr
Slide 4: Q3 2022 Highlights
Q3 2022 HIGHLIGHTS • Strong development of Advisortech business despite challenging environment • Slower growth due to weaker advisory business. Turnover • Turnover growth first 9M 2022: +12.0% to 115.8m EUR +12% • EBITDA rises from 5.3 to 6.2m EUR (+16.0%) / compared to EBITDA FY 2021 8.3m • Long-t
Slide 5: Composition of turnover growth & turnover split
Composition of turnover growth & turnover split Turnover development 9M 2022 Advisortech turnover split 9M 2022 0.3M -0.3M 3.8M +1.1% -11.1% 2.2% +17.5% IFA 10.1M business 22.6% 115.8M +16.8% Major 103.1M customers 75.2% Direct clients IFA Major Direct 9M 2021 Advisory 9M 2022 business customers cus
Slide 6: 9M 2022 in numbers – Group
9M 2022 9M 2022 IN NUMBERS – GROUP Q3 2022 9M 2022 9M 9M Turnover in million EUR Q3 2022 Q3 2021 vs. vs. 12.4% 2022 2021 Q3 2021 9M 2021 Revenues 34.8 34.4 1.1% 115.8 103.1 12.4% 103.1M 115.8M Advisortech 30.5 27.9 9.5% 98.0 84.3 16.2% Advisory 8.3 8.9 -6.3% 26.5 26.2 1.1% 9M 2021 9M 2022 Hold
Slide 7: 9M 2022 in numbers – Advisortech
9M 2022 9M 2022 IN NUMBERS – ADVISORTECH Q3 2022 9M 2022 9M 9M Turnover ADVISORTECH Q3 2022 Q3 2021 vs. vs. 2022 2021 16.2% Q3 2021 9M 2021 Revenues 30.5 27.9 9.5% 98.0 84.3 16.2% 84.3M 98.0M Gross profit 8.7 7.3 19.3% 27.0 21.8 24.0% Depreciation and 9M 2021 9M 2022 -1.2 -1.0 -22.0% -3.3 -2.8 -20.5
Slide 8: 9M 2022 in numbers – Advisortech commissions
9M 2022 9M 2022 IN NUMBERS – ADVISORTECH in kEUR in kEUR HISTORICAL COMMISSION ANNUAL INCREASE OF ONE OFF SPLIT ( 9M YoY) COMMISSIONS ( 9M YoY ) - other revenues excluded - 8.000 • One-off revenues grow but depend on economic environment/consumer behaviour. 6.000 75.000 2022 is a difficult year 4.00
Slide 9: Outlook recurring revenues
9M 2022 OUTLOOK RECURRING REVENUES Insurance: initiated contract transfers Mutual Funds: MSCI vs JDC Assets 180.000 12 month developement 160.000 +87,5% 140.000 120.000 100.000 80.000 60.000 -10% 40.000 20.000 0 initiated contract transferrals -18% 9/21 9/22 MSCI JDC Outlook 23 Outlook 23 Big increa
Slide 10: 9M 2022 in numbers – Advisory
9M 2022 9M 2022 IN NUMBERS – ADVISORY Q3 2022 9M 2022 9M 9M Turnover ADVISORY Q3 2022 Q3 2021 vs. vs. 2022 2021 Q3 2021 9M 2021 1.1% Revenues 8.3 8.9 -6.3% 26.5 26.2 1.1% 26.2M 26.5M Gross profit 2.4 2.8 -13.1% 8.1 7.4 9.9% Depreciation and 9M 2021 9M 2022 -0.3 -0.3 7.1% -0.9 -0.8 -9.9% amortization
Slide 11: 9M 2022 in numbers – Advisory turnover
9M 2022 9M 2022 IN NUMBERS – ADVISORY Turnover (9M) Post Ukraine Rebound? • Advisory business is a growing and Ukraine war/ profitable business, but its development is Inflation Post COVID depending on the actual consumer Rebound behavior. COVID-crisis • Weaker sales from weaker periods are usually
Slide 12: Cash & Liabilities
9M 2022 CASH & LIABILITIES FY 2021 HY1 2022 9M 2022 - 19.6M - 19.6M - 19.5M 21.1M 17.7M 21.9M 2.4M 4. 1.5M -1.9M Interest Interest Interest Cash on Net cash Cash on Net cash Cash on Net cash bearing bearing bearing hand position hand position hand position liabilities liabilities liabilities 9 month
Slide 13: Q3 2022 Further Facts
Q3 2022 FURTHER FACTS Bond 2019/2024 Development of share price 4. Quote (Tradegate): 101.25 % (November 11th, 2022) Price: 17.90 EUR (November 11th, 2022) Volume: 25,000,000 EUR 637,631 own shares coupon: 5.5% p.a Purchase price 8.55 per share ISIN: DE000A2YN1M1 Reserves 6.0M / Share value 11.4M JD
Slide 14: JDC Group – stock market data
JDC Group – stock market data Shareholder structure JDC 4.7% Management 11% Shares Outstanding 13,668,461 Great West 27% ISIN DE000A0B9N37 Other Shareholders 51.3% Bloomberg JDC:GR Current share EUR 17.90 price as of VKB November 11th, 2022 6% Market Cap EUR 245m Average daily trading volume approx.
Slide 15: Spotlights
Spotlights: Development of S-VM in the Provinzial region Update on JV with Bain Capital Contract with Albatros Renewed JDC Group AG 15. November 2022 15
Slide 16: Roll Out S-VM in the Provinzial Region
Roll Out S-VM in the Provinzial Region ON TRACK FOR THE NEXT 10 YEARS More than 40 Savings banks have signed S-VM contracts – more than any other competitor by far! More than 30 Savings banks have been already technically onboarded More than 5 Savings banks already rolled out S- VM in their branches
Slide 17: Update JV with Bain
Update JV with Bain SUMMITAS GROUP IS STARTING ITS OPERATIONS Company is founded and operational (Shareholding: Bain 65%, Great West 25%, JDC 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 broker mar
Slide 18: Albatros
Albatros JDC AND ALBATROS AGREE ON A NEW 5YEAR CONTRACT • Contract extended for another 5 years • Albatros continues to use the JDC platform exclusively across all product lines • Economic conditions almost identical • Signing took place after a new tender and re-evaluation of all of JDC`s competito
Slide 19: Guidance
Guidance JDC Group AG 15. November 2022 19
Slide 20: Old & New Guidance 2022
Old & New Guidance 2022 Guidance 2022 Goals 2025 Turnover Turnover Turnover 165 to 175 million 155 to 165 million >250 million (doubling 2020 figures) EBITDA EBITDA EBITDA >11 million 7.5 to 9.5 million >20 million (quadrupling 2020 figures) Goals • Successful rollout of further savings banks in the
Slide 21: Thank you for your attention!
Thank you for your attention! JDC Group AG 15. November 2022 21
Slide 22: 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