NetJobs (NJOB: STO), the Swedish job board, reported revenue for the third quarter ending 30 September 2016 of SEK 7.3 million (€0.7 million), a decrease of 17% compared with SEK 8.7 million (€0.9 million) during the same period last year. 

 Netjobs CEO Johan Hultgren commented:

“The third quarter is the weakest of the year when the sellers have the holiday period.”

“During the quarter, efforts to move toward year contract progressed, in order to create a more long-term relationship with our customers. But also to ensure a better and more cost-effective delivery to the customer and more predictable revenue over time for the company. This year we have a higher retention rate than the previous year, a process that will continue and be further enhanced.

“Efforts to finalize the new platform will continue and we will launch according to what has been said before, most recently in Q1. This applies to all parts of the company in Sweden and Germany. The new platform will further strengthen our relationship with our customers and be well received by our users. As part of this investment there has been a redesign of the brands within the group.”

 NetJobs saw a number of changes during the third quarter including the announcement that Johan Hultgren took over as CEO on 31 October, replacing Niklas Eriksson. Moreover, NetJobs acquired an 18.6% stake in Onrec AB and now owns 100% of the shares and votes.

In trading today, NetJobs Group AB traded at SEK 1.54 (€0.16), down 0.65% on the day and 27.27% above the 52-week low of SEK 1.21 (€0.12) set on 28 June 2016. Based on its current share price the company has a market value of SEK 32.16 million (€3.2 million).