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View All NewsItaly – Openjobmetis Q1 revenue up 7.7%, growth driven by temporary work
Italian recruitment firm, Openjobmetis SpA (OJM:MIL) reported revenue for the first quarter ended 31 March 2018 of €140.1 million, an increase of 7.7% compared with last year.
The company engages in employment services and focuses on the provision of specialist recruitment activities.
| (€ millions) | Q1 2018 | Q1 2017 | Change |
| Revenue | 140.1 | 130.1 | 7.7% |
| EBITDA | 5.0 | 4.1 | 22.8% |
| Profit (loss) for the period | 2.9 | 2.3 | 28.4% |
Revenue growth was driven mainly from an increase in the volume of business in terms of temporary worker hours sold to customers. The group’s Personnel Recruitment and Selection business line reported the biggest growth, increasing by 68.3% compared with the same period in 2017.
Revenue by business line was broken down as follows:
| (€ millions) | Q1 2018 | Q1 2017 | Change |
| Temporary Work | 138.0 | 128.0 | 7.7% |
| Personnel Recruitment and Selection | 0.7 | 0.4 | 68.3% |
| Outplacement | 0.1 | 0.1 | 37.3% |
| Other activities | 1.1 | 1.4 | -17.6% |
“The first quarter saw a further rise in revenue, which is expected to be confirmed again in the second quarter of 2018,” Openjobmetis stated. “This, combined with the positive market trend and the recovery of Italy’s competitiveness, enables us to look towards the remainder of 2018 with confidence.”
In trading yesterday, Openjobmetis closed at €11.82, up 2.78% on the day and 21.86% above the 52-week low of €9.70 set on 18 May 2017. Based on its current share price the company has a market value of €157.69 million.