JDC Group AG confirms preliminary figures for 2024

JDC Group AG confirms preliminary figures for 2024

JDC Group AG (ISIN DE000A0B9N37) has published its financial figures for 2024, confirming the preliminary figures published on March 10.

Group revenue increased by almost 29 percent to EUR 220.9 million in 2024 (2023: EUR 171.7 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to EUR 15.1 million, also an increase of almost 29 percent (2023: EUR 11.7 million). At EUR 8.7 million, earnings before interest and taxes (EBIT) were almost 50 percent higher than the previous year's figure of EUR 5.8 million.

In the very strong platform business (Advisortech segment), revenue increased by around 31 percent to EUR 197.0 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by almost EUR 3.2 million to EUR 15.1 million (2023: EUR 11.9 million). Earnings before interest and taxes (EBIT) also improved significantly and now stand at EUR 10.4 million (2023: EUR 7.6 million).

At EUR 38.8 million, revenue in the Advisory segment was significantly higher than the previous year's figure of EUR 33.2 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 4.2 million (2023: EUR 3.1 million) and earnings before interest and taxes (EBIT) stood at EUR 2.9 million at the end of the 2024 financial year (2023: EUR 1.9 million).

The key financial figures for 2024 developed as follows:

Key milestones for the year 2024:

In 2024, JDC Group AG achieved important milestones and also concluded important agreements that will have a positive impact on the Group's future development:

JDC wins further large companies as new platform customers

Last year, JDC was able to win additional large customers for its platform technology. Among other things, a long-term cooperation agreement was concluded with one of the largest European insurance companies. As is already the case for other insurance companies, JDC will support the business processes of the cooperation partner in the third-party insurance business as a technology and service provider. In addition, JDC is cooperating with verticus, Germany's leading broker pool for private comprehensive health insurance.

In addition to VKB, Provinzial and SparkassenVersicherung, Öffentliche Versicherung Braunschweig and VGH Versicherungen are now also relying on a cooperation with JDC. JDC is now the third-party insurance partner for five public insurance companies, which together account for just over 20 billion euros in premium income. Of the approximately 350 savings banks based in Germany, more than 300 institutions will thus be able to access JDC services in principle.

Merger of BBWV and DFP into a new, strong asset manager

At the beginning of 2023, Jung, DMS & Cie. AG acquired DFP Deutsche Finanz Portfolioverwaltung GmbH as part of the acquisition of the TopTen Group to strengthen its investment division and expand in the growing asset management segment. Subsequently, DFP was successfully integrated into the JDC structure and finally merged with JDC's asset management subsidiary BB-Wertpapier-Verwaltungsgesellschaft mbH (BBWV) in December of the reporting year. The merged DFP currently manages more than 150 label strategies, over 30 label funds, and more than 1,000 individual mandates, and with more than 2 billion euros in assets under management from more than 15,000 customers, it is now one of the more relevant asset management institutions in Germany.

“2024 was certainly the most successful financial year in our company's history. For the first time, all segments, sales channels and product areas contributed to the record revenue and earnings achieved with record growth. After an already outstanding third quarter, the fourth quarter in particular was again a positive surprise, in which we were able to generate revenues of over EUR 60 million and an EBITDA of EUR 5.9 million in just three months for the first time,” said Ralph Konrad, CFO of JDC Group AG, pleased with the excellent business performance.

“The latest results provide an excellent starting point for the 2025 financial year, in which we want to achieve significant growth in revenue and earnings once again: this means that the target for 2025 that we communicated back in 2020 – revenue of around EUR 250 million and a significant increase in 2020 EBITDA – is now well within reach,” explains Dr. Sebastian Grabmaier, CEO of JDC Group AG. “But we at JDC also have big plans for the future: due to our strong market position and stable shareholder base, we see ourselves as ideally positioned to continue to be one of the main drivers of the incipient market consolidation. Now that the Management Board appointments of Ralph Konrad and myself have been extended by a further five years, we want to develop the company to achieve revenues of EUR 450 to 500 million with an EBITDA target of EUR 40 to 50 million by the end of 2030. For JDC, a billion-euro valuation could then be within reach if we continue to grow. We are entering the next five years with this goal in mind!”

For 2025, JDC Group AG expects revenues to grow to between EUR 245 and 265 million and EBITDA to reach EUR 18.5 to 20.5 million.

The company plans to publish the final, audited figures for the 2024 financial year on March 31, 2025. Further information about JDC Group AG can be found at www.jdcgroup.de.

The letter to shareholders for the first quarter of 2025 will be published on May 12, 2025.

About JDC Group AG

JDC Group AG (ISIN: DE000A0B9N37) offers a digital platform for insurance companies, investment funds and all other financial products and services under the brands Jung, DMS & Cie., MORGEN & MORGEN, allesmeins, Top Ten and Geld.de. By offering and processing all product providers in the financial market with a complete product range and complete data and document supply, it creates the perfect workplace for financial intermediaries of all kinds (brokers, agents, company-affiliated intermediaries, banks, exclusivity organizations, FinTechs) and the first real financial home for financial services customers via its visualization systems and interfaces. Customers and brokers can use a smartphone app, tablet or PC to get a complete overview of their individual insurance and fund portfolio, simple transactions and transfer options, and a complete market comparison, so that customers and advisors can optimize their coverage and retirement planning easily and with an ideal cost-performance ratio. Around 250 well-trained consultants under the FiNUM brand supplement the platform offering for sophisticated and high-net-worth private clients. With more than 16,000 affiliated platform users, around 2.4 million customers, a fund portfolio of over EUR 7.5 billion and annual insurance premiums of over EUR 1.2 billion, we are one of the market leaders in German-speaking countries. JDC focuses on sustainability and is committed to ESG criteria: as a digitization service provider, JDC helps save many tons of paper and simplifies the daily work of financial intermediaries and their customers.

Disclaimer

The Management Board members of JDC Group AG hold an interest in JDC Group AG and have a self-interest in the nature and content of the information provided in this release.