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Denmark – Acquisitions boost Jobindex’s Q2 results

18 August 2014

Danish job board Jobindex AS (JOBND: CPH) reported revenue of DKK 57.2 million (€7.7 million) for the second period ending 30 June 2014, an increase of +72.3% compared with DKK 33.2 million (€4.5 million) during the same period last year. 

The company achieved a net profit after tax of DKK 8.1 million (€1.1 million), an increase of +179% against DKK 2.9 million (€388,962) last year.

The substantial rise in revenue and net profit after tax is as a result of the acquisition of ComputerWorld in May 2013 and Stepstone and it-jobbank in March 2014. The acquisition of ComputerWorld facilitated Jobindex’s move into the media market and the expansion of its recruitment services. 

Excluding revenue from ComputerWorld, Jobindex achieved organic revenue growth of +31% to DKK 40 million (€5.4 million), compared with last year.

Stepstone and it-jobbank reported revenue of DKK 6 million (€804,748) and DKK 4 million (€536,499), respectively, during the second quarter. EBIT for the period was DKK 4 million (€536,499) and DKK 1 million (€134,125), respectively.

Last month, and for the second time this year, Jobindex upwardly revised its earnings forecast for the year, following a strong performance during the first half of the year. The company expects to achieve revenue in the region of DKK 200 million (€26.8 million) and EBIT in the region of DKK 40 million (€5.4 million).

Despite the positive results, the company’s share price fell by -1.3% in early trading today to DKK 453 (€60.76), an increase of +21.3% compared with a year ago. Based on its current share price, the company has a market value of DKK 413.1 million (€55.4 million). 

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