JDC Group

DB: JDC

Market Cap€287.5m

Last Close €21.9

JDC Group is a financial services group providing advice and financial services, both directly to end-customers and via independent intermediaries. It operates one of the largest broker pools in Germany. The strategy is to focus on digital advice and administration capabilities to drive organic growth and position the group as market consolidator.

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Investment summary

Bancassurance advisory and service platform JDC Group is quickly adding large new clients to its insurtech platform. The platform, which was originally developed for its independent financial advisory (IFA) activities, has attracted several clients ranging from Lufthansa and Volkswagen to large German insurers like Provinzial and most recently VKB. According to management, the pipeline of new contracts looks promising. As well as the platform business, JDC operates a smaller advisory activity (FINUM). Based on consensus EV/sales and EV/EBITDA in 2021/22e, the valuation does not seem demanding compared to other platform peers.

Content on JDC Group
JDC Group – Seeking higher levels of growth
Financials | QuickView | 28 October 2021
JDC Group – Seeking a higher level of growth
Financials | Update | 17 August 2021
JDC Group – Scaling up
Financials | Update | 13 April 2021
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Share price graph
Price performance
%
1m
3m
12m
Actual (9.9) (12.0) 125.8
Relative* (10.8) (12.8) 101.2
52-week high/low €27.5/€7.9
*% relative to local index
Key management
Ralf Funke IR