JDC Group (JDC) Q3 2025 earnings summary

Executive summary

• Nine-month 2025 revenue grew 11.2% to €175.9 million, with EBITDA up 19.9% (35.5% adjusted for one-offs), driven by the FMK acquisition and strong platform activity.

• FMK acquisition completed, rapidly integrated, expanding direct customer channels and digital lead generation, with new product launches underway.

• Platform processed 6.4 million data sets and nearly 3 million contracts, serving 16,000 intermediaries and major banks/insurers; contract transfers up 29.3%.

• Maintained resilience despite weak consumer confidence and a German recession, with Q4 outlook much stronger.

• One-off M&A costs of €1.4 million impacted 9M 2025 results.

Financial highlights

• Q3 2025 revenue rose 5.6% year-over-year; nine-month revenue reached €175.9 million, up 11.2%.

• Nine-month EBITDA was €11.0 million (up 19.9% YoY, 35.5% adjusted); pro forma Q3 EBITDA up 50% to €3.5 million.

• Gross profit for 9M 2025: €48.9 million (+9.1% YoY); EBIT: €7.6 million (+64.5% YoY).

• Cash at period end €34.5 million, with over €42 million on hand including FMK cash.

• Issued new Nordic bond of €70 million (up to €160 million), coupon at 6.5% (Euribor + 450bps), due August 2029.

Outlook and guidance

• 2025 turnover guidance updated to €260–280 million, EBITDA to €20.5–22.5 million.

• Expecting at least €35 million EBITDA in 2026 before minorities.

• Q4 expected to be much stronger, with visibility and confidence in meeting guidance, though results may be at the lower end due to weak consumer confidence.

• Revenue for 2026 projected to exceed €300 million.