JDC Group

DB: JDC

€141.1m market cap

€10.75 last close

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.

Investment summary

Bancassurance advisory and service platform JDC Group’s final FY20 results were in line with the preliminary numbers. Large client wins are starting to feed into the platform, making JDC Group’s 2025 target of a doubling of revenues and multiplying EBITDA realistic. The EV/EBITDA valuation of 16.4x consensus FY22e does not seem demanding compared to international peers given the strong prospects for platform growth.

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Sector
Financials
Share price graph
Price performance
%
1m
3m
12m
Actual 0.0 11.1 125.8
Relative* (4.8) 1.6 56.6
52-week high/low €12.1/€4.5
*% relative to local index
Key management
Ralf Funke IR