JDC Group

DB: A8A

€74.8m market cap

€5.7 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 and recently acquired comparison website GELD.de. Digital advice and administration capabilities are a focus of strategy to drive organic growth and position the group as a consolidator.

Investment summary

JDC Group’s digitalisation strategy is increasingly bearing fruit, as highlighted by the recent significant new contracts and the entry of a well-known financial services player into JDC’s shareholder base as the largest investor. However, to accommodate the new clients, JDC had to make additional investments in FY18, which had a negative effect on group EBITDA and delayed the timing of breaking even at the net income level beyond FY18. However, the enlarged client base should help to improve revenue and earnings in FY19.

Share price graph
Price performance
%
1m
3m
12m
Actual (21.9) (16.4) (37.4)
Relative* (23.5) (17.8) (36.5)
52-week high/low €10.1/€5.7
*% relative to local index
Key management
Ralf Funke IR