JTC : Interim Results Presentation - September 2023

A C C E L E R A T I N G

T O G E T H E R

J T C I N T E R I M R E S U L T S 2 0 2 3

A G E N D A

J T C I N T E R I M R E S U L T S 2 0 2 3

2	C E O H I G H L I G H T S
5	F I N A N C I A L R E V I E W
1 6	B U S I N E S S R E V I E W
1 9	S U M M A R Y & O U T L O O K
2 0	Q & A
2 1	A P P E N D I C E S

1 CEOHIGHLIGHTS FINANCIALREVIEW BUSINESSREVIEW

&SUMMARY OUTLOOK

APPENDICES

"We have been delighted with the performance of the business in the first half of the year. Our organic growth has been

outstanding and our M&A activity continues to add quality and depth to the JTC platform, especially

in the US. We will achieve our Galaxy era goal two years ahead of schedule and we

are primed to begin the Cosmos era with strong momentum."

N I G E L L E Q U E S N E , C E O

2 CEOHIGHLIGHTS FINANCIALREVIEW BUSINESSREVIEW

&SUMMARY OUTLOOK

APPENDICES

J T C I N T E R I M R E S U L T S 2 0 2 3

3 5 Y E A R S O F G R O W T H

G R O U P H I G H L I G H T S

"Outstanding organic growth and strategically important M&A."

- Net organic revenue growth 21.0% (+11.5pp)	- Group Commercial Office success
-	Record annualised wins of £14.6m (+15.9%)		with new services and cross-selling
- Revenue +30.6%	•	Banking & Treasury
- Underlying EBITDA +30.8%	• Tax and Regulatory Compliance
-	Underlying EBITDA margin 33.1% (+0.1pp)	•	Strategic Transformation
-	Great impetus and strong stewardship	-	SDTC a strategically important acquisition
			in the establishment of our US platform

G A L A X Y E R A	I C S	P C S
	"An excellent performance with strong	"Market leading organic growth and
	growth and further margin enhancements."	key strategic acquisitions in the US."

C O S M O S E R A

3 CEOHIGHLIGHTS FINANCIALREVIEW BUSINESSREVIEW

SUMMARY &

D E L I V E R E D B Y E N D 2 0 2 3

"Our Galaxy era goal was to double revenue and EBITDA from where we ended 2020. To achieve this by the end of 2023, two years ahead of our originally anticipated timescales,

is a fantastic team effort."

J T C I N T E R I M

- Revenue +27.0%	- Revenue +38.3%
- Underlying EBITDA +27.4%	- Underlying EBITDA +37.1%
- Underlying EBITDA margin 31.6%	- Underlying EBITDA margin 36.0%
- 22.4% organic growth	- 18.6% organic growth with revenue
- Further improvements to operating		flow from Amaro, Campari and Ottawa
model driving margin		-	NYPTC integration progressing well
- Successful leadership	transition	-	Strategically important acquisition of SDTC

U S P L A T F O R M F O R G R O W T H

A C H I E V E D

R E S U L T S 2 0 2 3

D O U B L E A G A I N

"Our ambition for the Cosmos era is to double the size of the Group based on where we end 2023. The talent of the team, combined with the platform we have built for growth and positive market drivers, represents an exciting opportunity for JTC and the confidence to achieve this goal."

OUTLOOK

APPENDICES

C E O F I N A N C I A L H I G H L I G H T S

					NET ORGANIC
			UNDERLYING	UNDERLYING	GROW TH
			EBITDA MARGIN	2 1 . 0 %
		R E V EN U E	EBITDA
		3 3 . 1 %
			£ 4 0 . 2 M	+ 1 1 . 5 P P
£ 1 2 1 . 5 M	+ 0 . 1 P P	9. 5% H1 2022
+ 3 0 . 8 %
+ 3 0 . 6 %	33 . 0% H1 2022
£30 .7M H1 2022
£93 . 0M H1 2022

4 CEOHIGHLIGHTS FINANCIALREVIEW BUSINESSREVIEW

D	O
	I
		R
		E
			P
NEW				H
				T
BUSINESS WINS				N
£ 1 4 . 6 M		O
	M
+ 1 5 . 9 %				X
			I
£12 . 6M H1 2022				S
			R
				V	E
			E
		T
	S
E
B

LTM WIN R ATE

5 1 . 4 %

+ 4 . 6 P P

4 6 . 8% H1 2022

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VALUE WON*

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£ 1 9 5 . 1 M

+ 1 6 %

£168 . 2M H1 2022

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* Lifetime Value Won

F E T IME

(LVW) is 14 times

annualised value of

INTERIM DIVIDEND

3 . 5 P

P E R S H A R E + 0 . 4 P P E R S H A R E

3 .1P H1 2022

&SUMMARY OUTLOOK

APPENDICES

J T C I N T E R I M R E S U L T S 2 0 2 3

work won minus value

of attrition in past year.