Danish job board Jobindex A/S (JOBNDX: CPH) reported net sales for the first quarter of DKK 82 million (€11 million), an increase of 5% compared with the same quarter in the previous year.

Jobindex added that its first-quarter results were impacted by Easter as there were 62 working days in the first quarter of 2018 against 65 working days in the first quarter of 2017. A correction was applied and with this correction, the increase in net sales per working day stood at 10% in Q1 2018.

Jobindex’s advertising products reached a turnover of DKK 56 million in Q1 2018 (€7.5 million), up from DKK 51 million (€6.8 million) the year before. Jobindex stated that the job market in Denmark is on the rise with an early labour shortage in certain job types and the increase expected to continue.

Recruitment products reported turnover of DKK 8.2 million (€1.1 million) in the first quarter of 2018, down from DKK 8.5 million (€1.1 million) in Q1 2017. Jobindex added that Recruitment products remain an important part of the strategy, despite revenue falling.

Jobbsafari reported revenue of DKK 2.5 million (€0.3 million) in Q1 2018, down from DKK 2.8 million (€0.3 million) last year.

Computerworld had a turnover of DKK 6.7 million (€0.9 million) in Q1 2018, down from DKK 6.9 million (€0.9 million) last year. The group said that Computerworld Premium’s paid subscription content started off well and Jobindex has high expectations for this service.

IT jobbank had a turnover of DKK 5.0 million (€.06 million) in Q1 2018 against DKK 4.5 million (€0.6 million) in Q1 2017.

StepStone posted turnover of DKK 3.5 million (€0.4 million) in Q1 2018 against DKK 3.9 million (€0.5 million) in Q1 2017.

Looking ahead, the group expects turnover of DKK 330 million (€44.2 million) for the full year 2018.

The group added that it will be competing with Facebook Jobs, LinkedIn and will also be competing soon with Google Jobs in Denmark.

“Jobindex is in full swing to develop a number of new facilities to meet the competition,” the group stated.

“The new personal data regulation means that Danish companies are required to receive job applications via an application system,” Jobindex stated. “In May, Jobindex will launch a new system called QuickApply, where candidates can create an applicant profile with their CV on Jobindex. QuickApply can transfer data to the Danish application systems Emply and Elvium and Jobindex 'own application system. This makes it easier to search for jobs, because you do not have to enter information all over again whenever you search for a new job.”

As of last trade Jobindex A/S (JOBNDX:CPH) traded at DKK 1,580.00 (€211.9), down 4.24% on the day and 7.48% above its 52-week low of DKK 1,470.00 (€197.1 million), set on 4 September 2017. Based on its current share price the company has a market value of DKK 1.49 billion (€199.8 million).