01.12.2016
JDC Group AG DE000A0B9N37
DGAP-News: JDC Group demonstrates market acceptance of its strategy in third quarter
DGAP-News: JDC Group AG / Key word(s): 9-month figures
JDC Group demonstrates market acceptance of its strategy in third quarter
01.12.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
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- EBITDA increases pro forma by approximately 75% to kEUR 707 due to
inventory purchases in the first 9 months
- High demand for allesmeins among major clients
- Revenues in the Advisory segment rise in third quarter by around 13
percent
- Optimistic outlook for Q4 and 2017
JDC Group AG (ISIN DE000A0B9N37), the leading Advisortech company in
Europe, confirmed the success of its strategy in the results published
today for corporate development in the third quarter.
In the Advisortech segment, the company gained a strong partner in online
broker flatex for marketing allesmeins. With an average of 6.5 insurance
contracts per active allesmeins user, the contract density for allesmeins
is about three times higher than the market average, exceeding internal
expectations. In addition, Phoenix Strategic Investors - a sales company
with more than 1,000 consultants - has been acquired as a key client. From
December, Phoenix will contribute annual revenues of at least EUR 5 million
to Group sales.
Group revenues fell slightly in the first nine months to EUR 54.7 million
(9M 2015: EUR 55.6 million). This was due to weak production performance by
the largest JDC clients and a general weakness in investment fund sales.
The first sales from acquired portfolios could not offset this effect in
Q3. On a quarterly basis, revenues are stable at EUR 18.5 million (Q3 2015:
EUR 18.8 million). The overall revenue effect from the acquired insurance
portfolios will only begin contributing to consolidated revenue in the
fourth quarter of 2016.
Excluding one-time positive special effects from the previous year
amounting to kEUR 775 net, which were included in gross profit and other
operating expenses, earnings before interest, taxes, depreciation and
amortisation (EBITDA) increased by approximately 75% to kEUR 707 (9M 2015:
adjusted: kEUR 404; unadjusted kEUR 1,179). On a quarterly basis, EBITDA
rose to kEUR 339 and adjusted is therefore about kEUR 412 better than the
previous year (Q3 2015: kEUR -73; unadjusted: kEUR 157).
Earnings before interest and taxes (EBIT) declined as planned in the first
nine months as compared with the previous year due to a sharp investment-
related increase in write-downs on inventory purchases. They amount to kEUR
-1,004 (9M 2015: kEUR -765; unadjusted: kEUR 10). On a quarterly basis,
EBIT dropped to kEUR -532 (Q3 2015: kEUR -482; unadjusted: kEUR -252).
"With allesmeins, we established proof of concept," explained Dr. Sebastian
Grabmaier, CEO at JDC Group. "Agents can triple their inventory by using
our app. This also won over new key clients and verifies the validity of
our AdvisorTech strategy."
"The third quarter is the first quarter in which you will start to
recognise the new JDC, even though the weakness in the fund sector is still
masking the positive effects of the portfolio purchases," added Ralph
Konrad, CFO at JDC Group. "From the fourth quarter on, the holdings will be
fully factored into the profit and loss statement and show the new key
client's initial sales. We are therefore very optimistic about Q4 and about
2017 in particular."
Business units Q3 2016 Q3 2015 Change Q3 2015 Change to be continued proforma (in TEUR) Revenues 18,499 18,784 -1.5% 18,784 -1.5% - thereof 13,798 14,514 -4.9% 14,514 -4.9% Advisortech - thereof 5,937 5,278 12.5% 5,278 12.5% Advisory - thereof -1,236 -1,008 -22.6% -1,008 -22.6% Holding/Cons. EBITDA 339 -73 > 100% 157 > 100% EBIT -532 -482 -10.4% -252 > -100% EBT -783 -711 -10,1% -481 -62.7% Business units 9M 2016 9M 2015 Change 9M 2015 Change to be continued proforma (in TEUR) Revenues 54,742 55,586 -1.5% 55,586 -1.5% - thereof 43,097 44,267 -2.6% 44,267 -2.6% Advisortech - thereof 16,201 15,801 2.5% 15,801 2.5% Advisory - thereof -4,556 -4,482 -1.7% -4,482 -1.7% Holding/Cons. EBITDA 707 404 75.0% 1,179 -40.0% EBIT -1,004 -765 -31.2% 10 > -100% EBT -1,690 -1,234 -37.0% -459 > -100%You can find more information on JDC Group AG at www.jdcgroup.de. Contact Ingo Middelmenne Head of Investor Relations JDC Group AG Telephone: +49 611 3353 514 E-Mail: [email protected] About JDC Group AG JDC Group AG (ISIN: DE000A0B9N37) stands for modern financial advice and intelligent financial technology for advisors and customers. In the "Advisortech" business unit, we provide our customers and advisors with modern advisory and administration technology using the Jung, DMS & Cie. Groups. While many sales and distribution partners perceive the technological transformation as a problem and the young Fintech companies as the new competitors, we perceive the "technology" factor to be a great opportunity. Solutions from the "Advisortech" business unit will help advisors in the future to take even better care of their customers and generate increased sales in their earnings. In the "Advisory" segment, we convey financial products to private end customers via free advisors, brokers and financial distributors using the FiNUM Group. With over 16,000 connected sales partners, around 1,000,000 end customers, a portfolio of more than EUR 4 billion and over EUR 1.3 billion in product sales each year, we are one of the market leaders in the German-speaking area. Disclaimer: Members of the Management Board of JDC Group AG hold material shareholdings in JDC Group AG and thus have proprietary interests in the nature and contents of the information provided in this notification. --------------------------------------------------------------------------- 01.12.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- 525745 01.12.2016
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