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Leading International Investment Research, Edison Investment Research

Equity Bottom-Up

<p>JDC Group (JDC) reported strong Q222 numbers and reiterated its FY22 guidance for revenues of €165.0–175.0m (FY21: €146.8m) and EBITDA of more than €11m in FY22 (FY21: €8.3m). We have left our estimates unchanged. In our recent update, we concluded that, based on 2023e consensus EV/sales, EV/EBITDA multiples and our DCF calculation of €37.90 per share, JDC’s valuation does not seem demanding.</p>

JDC Group (JDC) reported strong Q222 numbers and reiterated its FY22 guidance for revenues of €165.0–175.0m (FY21: €146.8m) and EBITDA of more than €11m in FY22 (FY21: €8.3m). We have left our estimates unchanged. In our recent update, we concluded that, based on 2023e consensus EV/sales, EV/EBITDA multiples and our DCF calculation of €37.90 per share, JDC’s valuation does not seem demanding.

JDC Group - FY22 guidance reiterated after strong Q222

JDC Group AG

JDC Group - FY22 guidance reiterated after strong Q222