Main menu
Edison Group
  • Home
  • Equities

    Equities

    View All Equities

    Equities by Sector

    Pan African Resources

    MCap

    GBP695m

    Last close

    GBP0.36

    ▲ 0.95 (2.69%)

    Quadrise

    MCap

    GBP28m

    Last close

    GBP0.02

    ▲ −0.17 (−10.00%)

    Sareum Holdings

    MCap

    GBP33m

    Last close

    GBP0.26

    ▲ −1.25 (−4.59%)

  • Sectors

    Sectors

  • Thematics

    Thematics

    View All Thematics

    Latest

  • Audiovisual

    Audiovisual

    View All Audiovisual

    Latest

JDC Group (SCALE: JDC)

Last close As at 20/11/2024

EUR23.60

▲ 0.20 (0.85%)

Market capitalisation

EUR323m

JDC Group is a leading German insurance platform, providing advice and financial services to professional intermediaries and banks and directly to end-customers. JDC provides its digital platform for end-clients and for the administration and processing of insurance products as a white-label product.

In the last few years, JDC has won several very large contracts with German savings bank-related insurers, while its pilot with R+V Versicherung, Germany’s cooperative banks’ insurance company, has been extended. This year, JDC added a very large commercial insurer. These contracts could add well over €300m in annual turnover, with a significant contribution as of this year.

Latest Insights

View More

Financials | Flash note

JDC Group — On track to reach high-end FY24 sales guidance

Financials | Update

JDC Group — Gaining a firm foothold in commercial insurers

Financials | edison tv

JDC Group – executive interview

Financials | Flash note

JDC Group — Well on track in 2024
JDC Group_resized
Visit Website

Sector

Financials

Equity Analyst

Edwin de Jong

Edwin De Jong

Analyst

Key Management

  • Dr. Sebastian Grabmaier

    CEO

  • Ralph Konrad

    CFO

Balance Sheet

Forecast net cash (€m)

15.5

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 10.3 1.3 31.5
Relative 14.1 (2.2) 10.0
52 week high/low €24.2/€16.7

Financials

After two quarters of >20% y-o-y revenue growth, JDC Group (JDC) has benefited from strong tailwinds in Q324 as well. Revenue growth of 36% in the quarter was partly driven by the acquisition of Top Ten, but mostly by strong Insurance, investment and banks activities. Q424 is also expected to be strong and JDC indicated that the high end of FY24 revenue guidance of €205–220m is well within reach. FY24 EBITDA guidance is in the range of €14.5–16.0m (FY23: €11.7m). After raising our estimates with the H124 results, we make no further changes. Our discounted cash flow provides a valuation of €34.0/share.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2022A 156.1 9.0 1.1 6.87 343.5 44.9
2023A 171.7 11.7 3.8 27.93 84.5 38.5
2024E 220.4 16.0 7.5 43.93 53.7 22.3
2025E 258.6 23.3 14.4 79.16 29.8 16.4

Update

Financials

JDC Group — Lower FY22 guidance and estimates

Flash note

Financials

JDC Group — FY22 guidance reiterated after strong Q222

Update

Financials

JDC Group — Adding more client groups

Update

Financials

JDC Group — Starting to execute on large client wins

QuickView

Financials

JDC Group — Seeking higher levels of growth

Update

Financials

JDC Group — Seeking a higher level of growth

Update

Financials

JDC Group — Scaling up

edison tv

Financials

JDC Group – executive interview

Update

Financials

JDC Group — Business model proves resilient to COVID-19

Update

Financials

JDC Group — Ready to scale up

Update

Financials

JDC Group — Large contracts start to materialise

Update

Financials

JDC Group — White label solutions attract new clients

Update

Financials

JDC Group — Back on track after a weaker Q417

Update

Financials

JDC Group — Muted Q417 does not spoil FY18 outlook

Update

Financials

JDC Group — Capturing additional margin

Initiation

Financials

JDC Group — Digitalised personal service