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View All NewsDenmark: Jobindex downgrades expectations blaming stalled job market
Jobindex A/S (JOBNDX: CPH), the Danish job board announced its results for the second quarter with growth in net sales of 1% compared to Q2 2018 but EBITDA (excluding special items) down 7%.
The company believes the job market has stalled and has downgraded its expectations for the full year to net sales in the region of DKK 310 million (€42 million) and an operating profit in the region of DKK 80 million (€11 million).
According to Kaare Danielsen, director of Jobindex "There is no direct decline in the job market - but it has also not increased," and he expects the trend to continue. "Uncertainty over Brexit and the threats of trade war has only grown, and it is affecting the job market”.
| (DKK millions) | Q2 2019 | Q2 2018 | Change | Q2 2019 (€ millions) |
| Net Sales | 83.169 | 81.871 | 1.6% | 11.15 |
| EBITDA (excluding special items) | 25.132 | 27.033 | -7.0% | 3.37 |
| Operating Profit (before interest and tax) | 18.517 | 19.031 | -2.7% | 2.48 |
Jobindex was among the European job boards that filed an anti-trust complaint against Google Jobs last week.
In trading today Jobindex shares last traded at DKK 1,000 (€134.11), down 1% on the day and 6.95% above its 52-week low set on 25th March 2019. Based on its current share price, the company has a market value of DKK 909 million (€122 million).