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Denmark – Jobindex Q2 revenue up 5.4%, but EBITDA and profits slide

20 August 2018

Danish job board Jobindex A/S (JOBNDX: CPH) reported net sales for the second quarter of DKK 81.9 million (€10.9 million), an increase of % compared with the same quarter last year.

(DKK millions) Q2 2018 Q2 2017 Change Q2 2018 (€ millions)
Net Sales 81.9 77.7 5.4% 10.9
EBITDA (excluding special items) 27.0 27.8 -2.9% 3.6
Profit before interest and tax 19.0 20.2 -5.9% 2.5

Earlier this month, the group reported a net turnover of DKK 164 million (€22.0 million) for the first half of 2018, an increase of 5% compared with last year.  Operating profit before interest and tax was DKK 48 million (€6.4 million), an increase of 3% compared with the first half of 2017. Jobindex also downgraded its sales forecast for the full year 2018 with a new forecast of DKK 320 million against the previously expected DKK 330 million (€44.2 million).

“We are seeing a slightly weaker growth than originally anticipated and has made a slight downward revision so that the result for 2018 is now expected to be at the same level as in 2017," Kaare Danielsen, CEO and Founder of Jobindex, said.

Further H1 2018 figures from Jobindex showed that Jobindex advertising products reported turnover of DKK 112 million (€15.0 million), a growth of 7% compared to last year.

Recruitment products reported turnover of DKK 16.7 million (€2.2 million) in the first half of 2018, an increase of 3.7% compared to last year.

Jobbsafari reported sales of DKK 5.0 million (€0.6 million), down 7.4% from the previous year.

In the first half of 2018, Computerworld reported turnover of DKK 13.6 million (€1.8 million), down 2.1% when compared to last year.

IT jobbank reported turnover of DKK 9.4 million (€1.2 million), an increase of 4.4% when compared to last year.

StepStone posted turnover of DKK 7.0 million (€0.9 million) in H1 2018, down 6.6% from last year.

The group last traded on the market on 16 August 2018, before publication of its second-quarter results.