JDC Group increases growth to over 25 percent and expands the Management Board

JDC Group increases growth to over 25 percent and expands the Management Board

• Turnover grows in the second quarter by 29.4 percent to EUR 52.8 million; in the first half of the year turnover increases by 25.4 percent to EUR 106.1 million
• EBITDA grows by 48.7 percent to EUR 2.8 million in the second quarter of 2024; in the first half of the year by 35.6 percent to EUR 6.9 million; EBIT increases by 64.4 percent to EUR 3.8 million
• Dr. Ramona Evens, former Check24 Managing Director, newly appointed as Chief Operating Officer/  COO

JDC Group AG (ISIN DE000A0B9N37) shows significant growth and a corresponding increase in turnover and profits with the figures published today for the first half of 2024:

Turnover grew by a pleasing 29.4 percent to EUR 52.8 million in the second quarter (Q2 2023: EUR 40.8 million). As a result, turnover in the first half of 2024 increased by 25.4 percent to EUR 106.1 million (6M 2023: EUR 84.6 million).

Turnover in the Advisortech division rose by 30.9 percent to EUR 46.6 million in the second quarter. For the first half of the year, this represents growth of 26.5 percent to EUR 94.9 million. In the Advisory division, turnover in the second quarter also increased significantly by a pleasing 27.4 percent year-on-year to EUR 9.9 million and thus by 16.9 percent to EUR 18.6 million in the first half of 2024.

The Group's earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 48.7 percent to EUR 2.8 million in the second quarter (Q2 2023: EUR 1.9 million). In the first half of the year, this represents growth of 35.6 percent to EUR 6.9 million (6M 2023: EUR 5.1 million).

Earnings before interest and taxes (EBIT) more than doubled in the second quarter to EUR 1.3 million (Q2 2023: EUR 0.5 million). For the first half of the year, this means growth of 64.4 percent to EUR 3.8 million (6M 2023: EUR 2.3 million). Consolidated net income in the first half of 2024 rose by 70.5 percent to EUR 2.8 million after EUR 1.6 million in the same period of the previous year.

The share buyback program resolved by the Executive Board on 10 November 2023 with the approval of the Supervisory Board and launched on 16 November 2023 was completed as planned on 15 May 2024. As part of this program, a total of 147,113 shares (corresponding to around 1.08 percent of the share capital) were bought back for a total amount of around EUR 2.9 million.

Due to the dynamic development of the company and the diverse tasks arising from the major cooperations, the company is adding a fourth member to the Management Board. Dr. Ramona Evens (*1984) will assume the role of Chief Operating Officer of the JDC Group from 1 September 2024. Dr. Evens, who holds a doctorate in business administration, is a trained strategy consultant, has managed the sales management of a medium-sized German insurance company and, in addition to her own entrepreneurial activities, was most recently Managing Director of the property insurance division at the comparison portal Check24. Ralph Konrad, who was previously responsible for the Operations division in addition to other departments, will focus on the Finance, Legal and Platform divisions in future.

"The performance in the first half of the year - especially in the second quarter - significantly exceeded our expectations. With almost 30% growth, we had a particularly dynamic second quarter," says Ralph Konrad, CFO/COO of the JDC Group, pleased with the quarterly figures. "Personally, I am particularly pleased that we have been able to appoint another top industry expert to our Management Board, Dr. Ramona Evens. She will certainly provide us with valuable impetus for the further development of JDC in the area of operations. I myself will then be able to put even more energy into the technical development of the platform and my other areas of responsibility, such as M&A."

"We are now growing in the platform business at the pace we envisioned for ourselves and our shareholders and are also back on track in our advisory business. We are therefore convinced that we will be able to meet our ambitious turnover and earnings targets for 2024 and 2025," comments Dr. Sebastian Grabmaier on the company's positive development. "However, as the acquisition of our next major customer, one of Europe's largest insurance companies, shows, we will not rest on our laurels, but rather take advantage of all market opportunities. Be it as a platform with other major clients and brokers, as an aggregator with our joint venture with Bain Capital and Great West or with our own M&A activities. We are and will remain one of the leading consolidators in the market. Against this backdrop, we are particularly pleased that we have been able to recruit the proven platform specialist Dr. Ramona Evens as our new COO!"

The key figures for the second quarter and the first half of 2024 are as follows:

For the further course of 2024, we confirm our positive assessment and the published guidance: In 2024, the company expects turnover growth to EUR 205 million to EUR 220 million and EBITDA of EUR 14.5 million to EUR 16.0 million on the basis of cooperation agreements already concluded.

The half-year report 2024 and further information on JDC Group AG can be found at www.jdcgroup.de.

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 Jung, DMS & Cie, allesmeins and Geld.de brands. By offering and processing 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, company-affiliated intermediaries, banks, exclusive organizations, FinTechs) and the first real financial home for financial services customers via its visual systems and interfaces. Via smartphone app, tablet or PC, customers and intermediaries receive a complete overview of the individual insurance and fund portfolio, simple contract routes and transfer options as well as a complete market comparison, so that customers and advisors can easily optimize insurance and pension provision with an ideal cost-benefit ratio. Around 250 well-trained advisors under the FiNUM brand complement the platform offering for discerning and upmarket private customers. With more than 16,000 connected platform users, around 2.4 million customers, a fund portfolio of over 7.5 billion euros and annual insurance premiums of over 1.2 billion euros, we are one of the market leaders in the German-speaking region. JDC focuses on sustainability and is committed to ESG criteria: As a digitalization service provider, JDC helps to save many tons of paper and make the everyday lives of financial intermediaries and customers easier.

About Dr. Ramona Evens

Dr. Ramona Evens has been working in the financial and digital industry for 15 years. From 2008 she worked at the strategy consultancy The Boston Consulting Group. After completing her doctorate at the Chair of Finance and Banking, she moved to ARAG Versicherungen in 2014, where she took on management tasks in sales management, among other things. Most recently, she was Managing Director at the comparison portal CHECK24, where she was responsible for property insurance and worked as a start-up entrepreneur. Dr. Evens has a particular focus on digital processes in sales.

Disclaimer:

The Executive Board members of JDC Group AG, Dr. Sebastian Grabmaier, Ralph Konrad and Marcus Rex, hold a stake in JDC Group AG and have a vested interest in the nature and content of the information provided in this release.