JDC Group (JDC) Q4 2024 earnings summary

Executive summary

• Achieved record financial performance in 2024, with turnover/revenue of EUR 220.9 million and EBITDA of EUR 15.1 million, both up nearly 29% year-over-year, driven by strong organic growth, platform scaling, and successful Top Ten Group integration.

• Platform leadership in digital insurance administration, scaling to 5.8 million contracts and over 200 insurer relationships, with significant automation and digitalization driving operational efficiency and cost savings.

• Significant economies of scale achieved, with improved gross margin and cost efficiencies across all business lines and segments.

• Management targets EUR 500 million turnover and EUR 50 million EBITDA by 2030, focusing on organic and selective M&A-driven expansion.

• All segments, sales channels, and product areas contributed to record growth.

Financial highlights

• Full-year turnover/revenue grew 28.6% year-over-year to EUR 220.9 million, surpassing guidance; Q4 turnover reached a record EUR 62.7 million, up 28.4% from Q4 2023.

• EBITDA increased 28.9% to EUR 15.1 million; adjusted EBITDA (excluding one-off/integration costs) was EUR 15.9 million, up nearly 36%.

• EBIT rose nearly 50% to EUR 8.7 million; net profit up 60% to EUR 6.1 million.

• Gross profit increased 21.7% to EUR 64.3 million; strong cash flow from operations at EUR 18.0 million.

• Advisory segment EBITDA up 36.8% to EUR 4.2 million, now contributing over 25% to group results.

Outlook and guidance

• 2025 turnover/revenue guidance set at EUR 245–265 million, with EBITDA targeted at EUR 18.5–20.5 million, assuming no additional M&A.

• Long-term vision targets EUR 450–500 million turnover/revenue and EUR 40–50 million EBITDA by 2030, leveraging digitization, regulation, and consolidation trends.

• All 2024 operational and strategic goals achieved, including successful AI implementation and expansion of IT services.