Danish job board Jobindex A/S (JOBNDX: CPH) reported revenue for the first quarter ending 31 March 2023 of DKK 106.2 million (€14.2 million), a fall of 13.3% compared with the same quarter in the previous year. The group reported its results on 22 May 2023.

The company said the last three years have been characterised by uncertainty and fluctuations in the job market. The number of job advertisements online fell during 2022, but stabilised in the autumn and remains at a level of approximately 10% above the level before the pandemic.

“Since the autumn of last year, the job market has been relatively stable,”  Kaare Danielsen, director of Jobindex, said, “This supports our expectations that there are no major challenges just around the corner: The Danish job market is strong and active. Employment is setting new records and increased by almost 5,000 people in March 2023, and most economists have upgraded their expectations and expect restrained and positive growth in GDP in 2023.”

Jobindex’s advertising products reached a turnover of DKK 84 million (€11.2 million) in the first quarter of 2023 against DKK 99 million (€13.3 million) in the first quarter of 2022. Recruitment products reported turnover of DKK 7.4 million (€0.9 million) in Q1 2023 against DKK 7.3 million (€0.9 million) in the first quarter of 2022. StepStone and the international job advertisements division generated sales of DKK 0.9 million (€0.1 million) against DKK 1.5 million (€0.2 million) in the first quarter of 2022.

Computerworld had a turnover of DKK 8.9 million (€1.2 million) in the first quarter of 2023 against DKK 8.8 million (€1.2 million) in the first quarter of 2022. IT-jobbank had a turnover of DKK 4.9 million (€0.6 million) in Q1 2023 against DKK 6.2 million in the first quarter of 2022.

"Even though we, like many other companies, are challenged both in terms of revenue and on the cost side, we have started with great results. We are particularly pleased to note that both our recruitment services and the activities carried out in Computerworld are experiencing an absolutely modest, but continued positive growth in turnover," Danielsen said.

Looking ahead, the group stated, “There is still great uncertainty, i.e., due to international tensions, but our preliminary figures indicate a soft landing on the job market, and most economists now agree with this and have raised their expectations for growth in 2023.”

Jobindex maintained that it expects a turnover of around DKK 440 million (€59.08 million) and a profit before interest and tax in the level of DKK 150 million (€20.1 million) for the full year 2023, provided that the high level of job advertisements holds.

Jobindex shares closed on 22 May 2023 at DKK 1,720 (€230.96), down 1.14% on the day. The company has a market cap of DKK 1.62 billion (€217.5 million).