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Denmark – Jobindex revenue up but outlook flat

13 August 2012

The Scandinavian internet job board, Jobindex A/S (JOBNDX:CPH), has announced its second quarter results.  Revenue was up by 7% at €3.92 million compared to €3.65 in Q2 2011 while profit before interest and tax (EBIT) also rose 3% to €1.12 million from €1.09. However, the job market remains weak, and the number of paid job advertisements on the site in Q2 2012 actually decreased 3% compared to the Q2 2011.  

The increase in revenue was ascribed to the sale of several additional products, mainly Employer Branding and various recruitment products such as CV-match and job advertisement writing. The company have also expanded the development and newbizz department, that cultivates small new customers, and increased marketing in Sweden and Norway. 

Looking at the specifics of the Danish job market, Jobindex stated that the optimism of the first three months was replaced by a decline in April and May, while the number of job ads again rose slightly in June and July. The bright spot was the public sector where the number of job ads once again begun to rise.  There are ca. 10% fewer vacancies in autumn than in spring.

The preliminary results fit well with Jobindex’s expectations for the whole of 2012 for revenues of €14.80 million and a profit before interest €3.36 million assuming that the European debt crisis does not flare up again. Look to the future the job market has been weak since 2009 and Jobindex believe that this year may be a model for many years to come.

Jobindex with 10,000 job listings over 80,000 CVs and 300,000 users provides the most complete list of job vacancies in Denmark. Jobindex works as a search engine that searches for job listings in over 500 job fairs and job market private companies in Denmark, including AF's Jobnet. Under the name Jobsafari the firm operates services in Sweden , Norway, Finland, Germany, Holland , England , France , Austria , Switzerland and Spain . Jobindex is a publicly traded employee-owned company.Approximately 93% of the shares are owned by company founder Kaare Danielsen, ca. 6% is owned by current and former employees and approximately1% is owned by other shareholders.

The share price stands at 358.00 DKK and has not moved so far today.  This is 4.53% below the 52-week high of 375.00 DKK, set on 3rd May, 2012 but 32.59% above a year ago. This means the company is valued at €43.34 million.

To read the full report in Danish, click here:



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