Sparks - JDC Group

JDC’s Q226 revenues came in at €68.6m, compared to €58.7m in Q225, an increase of 16.9% y-o-y. Growth was driven by the platform Advisortech business (+19.8% to €58.3m) largely due to the consolidation of FMK (since September last year), but also without FMK there was organic growth. In Advisory (+9.7% to €14.4m) growth was also satisfactory.  Especially recurring business is driving results. while like in Q1, new business is still feeling the impact of the weak economic environment in Germany, which is leading consumers to hold back on purchasing retirement provision products.

EBITDA increased 82.5% yoy to €6.4m and net profit 59% to €1.9m. JDC maintained its FY26 guidance of revenues of €300-330m and EBITDA of €35–38m, but said that due to the currently challenging economic conditions, it expects to achieve guidance at the lower end of the range.

The recently launched new private pension plan of the German government as of January 1, 2027 will make private retirement planning more attractive, more cost-efficient, and better accessible. JDC expects intensive marketing and sales campaigns by insurance companies and investment fund companies starting in September, which will initially directly benefit our subsidiary FMK and, due to increased attention in the consumer market, subsequently all other sales channels as well. This should lead to a return of new business momentum by Q4 at the latest.