Q2 2026 JDC Group AG Earnings Call Transcript
Key Points
- Record half-year results with turnover up 18.7% and EBITDA up almost 70% year-over-year.
- Strong growth in recurring revenue streams: assets under management up 18% and annual net premium up 11%.
- FMK acquisition is performing well, contributing EUR22 million in turnover and EUR7 million in EBITDA in H1 2026.
- AI-driven operational efficiencies: contract transfers nearly doubled since 2023 with a 15% reduction in FTEs and a 50% drop in personal cost per unit.
- Well-positioned for the new German retirement savings scheme (Altersvorsorgedepot) with benefits from both insurance and banking channels.
- Challenging macroeconomic environment in Germany with weak consumer climate and political uncertainty.
- New business in the broker platform remains subdued, especially in high-volume life insurance and pension planning, with a delay expected until Q4.
- Lead generation for financial products is at a historical low, leading to higher acquisition costs and pressure on the lead market.
- Performance fee accruals of EUR4 million in turnover and EUR600,000 in EBITDA were not booked in H1 2026 due to precautionary reasons, impacting reported figures.
- Share price has not followed operational performance over the last 20-24 months, though a recent uptick is noted.
Welcome to the earnings call regarding the H1 figures for 2026 of the JDC Group AG. The company's CEO Dr. Sebastian Grabmaier; and CFO, Ralph Konrad as well as COO, Dr. Ramona Evens will guide you through the figures in a moment, followed by a Q&A session via audio line and chat.
And with that said, I hand over to you Mr. Grabmaier.
Yeah, thank you Mara for the warm welcome. Also, welcome from our side, from the management board of JDC. You can see it's challenging times, but again, we could deliver a record half year and also very good Q2 2026. So my name is Sebastian, Co-founder and CEO of JDC Group. And with me in the call is my partner, Ralf, and my colleague, Ramona. So Ralph says hello.
Hi, Ralph, yeah. Responsible for finance, M&A and IT. And Ramona.
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