JDC Group (A8A)

Business description

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.

Stock data

Market cap.€86.7m
Last close€7.26
High / Low (52 weeks)€8.7 / €5.0
Stock market listingDB
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A

Price performance

Relative *0.6(5)(1.4)

* % Relative to local index

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Latest research

Capturing additional margin

Update | Financials | 06/09/2017

Digitalised personal service

Initiation | Financials | 05/07/2017


JDC Group

Ausweitung der Marge

JDC Group

Digitalisierte persönliche Services


Investment summary

JDC continues to execute its new strategy of digital platform development while acting as a consolidator of client contract portfolios. Two large portfolio acquisitions made last year, assisted by organic growth, allowed the company to increase revenues (up 10.1% y-o-y to €40.3m in H117), improve profitability (gross margin at 33.5% in H117 vs 29.3% in H116) and enhance cash generation (operating cash flow up 40.4% y-o-y to €3.3m). Management remains confident that it will deliver c 15% y-o-y revenue growth and double EBITDA in FY17. Although JDC’s stock is currently trading at a premium of c 175% to its peer group on FY17e P/E, it is also characterised by superior earnings growth potential (c 90% y-o-y in FY18), according to market consensus.

Last updated on 06/09/2017

Key management

Ralph Konrad, CFO

Company address

Kormoranweg 1
+49 (0)611 89 05 75-0
View website