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View All NewsSweden – NetJobs Q4 revenue hit by weak performance in Germany and Sweden, but net loss recovers
Swedish job board NetJobs (NJOB: STO) reported revenue for the fourth quarter ending 31 December 2018 of SEK 8.4 million (€0.8 million), a fall of 19.5% compared with the same period last year.
| (SEK millions) | Q4 2018 | Q4 2017 | Change | Q4 2018 (€ millions) |
| Revenue | 8.4 | 10.4 | -19.5% | 0.8 |
| Operating Profit | -0.6 | -0.8 | +25.0% | 0.0 |
| Operating Margin | -7.1% | -7.6% | +6.6% | N/A |
| Profit After Tax | 0.3 | -0.4 | N/A | 0.0 |
According to NetJobs, the fourth quarter was mainly burdened by the German operations as well as subsidiary Onrec in Sweden, which had lower income compared with the previous year.
NetJobs added that its business it expects improvement in both its German business and Onrec after renewed efforts to turn the businesses around.
The company added that its cost base was further optimised, while several improvements were made to software that will benefit the organisation.
“The work continues, we have the right focus and work hard to live up to our expectations, which are considerably higher than what appears from the results at present,” CEO, Georg Tsaros said.
Revenue broken down by division was as follows.
| (SEK millions) | Q4 2018 | Q4 2017 | Change | Q4 2018 (€ millions) |
| Sweden | 6.6 | 7.9 | -15.9% | 0.6 |
| Germany | 1.5 | 2.5 | -38.7% | 0.1 |
| Techjobs | 0 | 2 | N/A | 0.0 |
| Other | 0.2 | 2 | N/A | 0.0 |
Revenue for the full year decreased by 11.8% to SEK 33.5 million (€3.1 million).
NetJobs last traded on the market on 19 February 2019. Shares on this day closed at SEK 0.77, (€0.07) down 1.28% on the day. Based on its current share price the company has a market value of SEK 15.98 million (€1.50 million).