Jobindex A/S (JOBNDX: CPH), the Danish job board, has reported revenue for the fourth quarter ending 31 December 2016 of DKK 71 million (€9.5 million), an increase of 5% compared with DKK 67 million (€9.5 million) during the same quarter last year.

Full Year Revenue

For Q4 2016, operating profit before interest and tax was DKK 21 million (€2.8 million), an increase of 35% compared to DKK 16 million (€2.1 million) in Q4 2015. For the full year, operating profit before interest and tax was DKK 78 million against DKK 70 million (€9.3 million) last year, a growth of 11%.

Jobindex ad products reached a turnover of DKK 45 million (€6.0 million) in Q4 2016. For the full year 2016, revenue was DKK 179 million (€24.0 million).

Jobindex recruitment products generated sales of DKK 7 million (€0.9 million) in Q4 2016. For the full year 2016 turnover for recruitment products was DKK 27 million (€3.6 million), a 51% growth.

Jobindex’s core job board, Jobbsafari generated DKK 3 million (0.4 million) in Q4 2016. For the whole of 2016, Jobbsafari had a turnover of DKK 10 million (€1.3 million). Jobbsafari is now the third largest and third most known commercial job site in Sweden.

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

Computerworld had a turnover of DKK 7 million (€0.9 million) in Q4 2016 while the full year showed revenue of DKK 28 million.

IT job bank generated DKK 5 million (€0.6 million) in Q4 2016. For the full year, IT Job bank had revenue of DKK 18 million (€3.7 million).

StepStone generated DKK 4 million (€0.5 million) in Q4 2016, while for the full year 2016, StepStone showed a total of DKK 17 million (€2.3 million). StepStone has partnered with Exchange, so StepStone job listings also appear on the Exchange's Career Link.

Jobindex expects total group revenues in 2017 of around DKK 300 million (€40.3 million).

Jobindex expects the number of job advertisements on the Internet will be at the same level in 2017 as in 2016, around 21,000 new jobs posted per month.

Jobindex's market share has grown to 54%, while StepStone and IT job bank have grown 3% and 5%, respectively in the Internet job advertisement market, which makes for a total market share of 62%.

 “The growth in the number of job advertisements in recent years has been at 5% annually. It nearly stopped in 2016, and we do not expect this to change significantly in 2017,” Kaare Danielsen, director of Jobindex, said. “The number of new job listings that are created, however, are high and it indicates a continued rise in employment.”

As of last trade Jobindex traded at DKK 1,440.00 (€193.7), down 2.37% on the day but 2.86% above its 52-week low of 1,400.00 (€188.3), set on 13 January 2017. Based on its current share price the company has a market value of DKK 1.33 billion (€178.9 million).