Danish job board, Jobindex (JOBNDX: CPH), reported revenue yesterday for the first quarter ending 31 March 2016 of DKK 67.3 million (€9.0 million), an increase of 6% compared with DKK 63.2 million (€8.5 million) during the same period last year.

Jobindex explains that part of the reason for the decline in EBITDA is due to fewer working days in Q1206 than in 2015. Easter fell in March, affecting the net profit by DKK 2-3 million.

The company reported its recruitment products separately for the first time in this quarter. Recruitment products grew by 75% compared with Q1 2015. The company states that these recruitment products remain a deficit due to costs growing faster than revenue.

Jobindex’s core job board, Jobbsafari, showed strong growth in Sweden and it is now among the three largest commercial job sites in Sweden in terms of unique visitors. The company said that Jobbsafari still needs to translate final figures for revenues, but that it has risen to DKK 2 million (€268,776), a growth of 80% compared with Q1 2015.

Jobindex also operates media company Computerworld, which it acquired in May 2013, and job boards, StepStone and it-jobbank, both of which were acquired on 1 March 2014

Computerworld reported revenue of DKK 7 million (€940,838) in the first quarter.

IT jobbank reported revenue of DKK 5 million (€671,922) in Q1 2016, up from DKK 4 million (€537,537) in Q1 2015.

Stepstone reported revenue of DKK 5 million (€671,922), on par with the previous year’s Q1 results. All StepStone job listings will continue with the Stock Exchange's jobsite Career Link, and the plan is that cooperation with the Stock Exchange will give Stepstone the same results that the IT job bank has achieved in cooperation with Computerworld.

Jobindex maintains its forecast for the whole year 2016 of revenue of DKK 275 million (€37 million), but downgraded its outlook for operating profit before interest and tax of DKK 60 million (€8.0 million) against the previously expected DKK 70 million (9.4 million). The company says that its ambition is to reach a recruitment turnover of DKK 100 million (13.4 million) in 2020.

According to research from Staffing Industry Analysts, Jobindex is one of the largest job boards in the world. 

In trading yesterday, Jobindex traded at DKK 1,998 (€268.5), up 2.46% on the day and 3.01 % below its 52-week high of DKK 2,060 (€276.8), set on 3 May 2016. Based on its current share price, the company has a market value of DKK 1.80 billion (€242 million).