Swedish job board NetJobs (NJOB: STO) reported revenue today for the fourth quarter ending 31 December 2023 of SEK 3.5 million (€0.3 million), a fall of 46.7% compared with the same period last year.

For the full year period, the group reported revenue of SEK 16.8 million (€1.5 million), a decrease of 31.1% over the prior year.

CEO, Niklas Eriksson said, “The trend during the third quarter continued during the fourth quarter, which has been characterised by tougher market conditions and reduced demand from our customers.”

“We are not satisfied with our financial performance during the year and during the fourth quarter,” Eriksson said. “We continue to focus on increasing the level of activity in the sales work and increasing the attractiveness of our offer to parry a more challenging market. During the quarter, we have carried out several activities that increase the attractiveness of our offer. We continuously invest in our technical platform to be able to strengthen our products and offer.”

EBITDA margin stood at 6.7% in Q4 2023 compared to 7.9% the year prior.

Eriksson continued, “We have taken measures to be able to grow our sales organization with more salespeople who can contribute to increased turnover and process the market effectively while working to streamline operations. We keep our focus on the Swedish market at the same time as we have opened a new sales office in Germany and in the short term our goal is to grow under profitability with positive cash flows.”

NetJobs Group set a new 52-week low during today's trading session when it reached SEK 0.343 (€0.031). Over this period, the share price has collapsed by 70.83%. The company last traded at SEK 0.343 (€0.031), down 2.0% on the day. The company has a market cap of SEK 12.09 million (€1.07 million).