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Denmark – Jobindex revenue up despite tough market

13 May 2013

Scandinavian online job board Jobindex A/S (JOBNDX:CPH) today reported that first-quarter revenue grew by +1% to €3.97 million (DKK 29.6 million) from €3.92 million (DKK 29.3 million) in the previous year.

The firm now expects 2013 revenue of €16.01 million (DKK 120 million) and operating profit of €4.0 million (DKK 30 million).

In the first quarter, profit before interest and tax rose by nearly +3% to €1.03 million (DKK 7.7 million), up from €1.0 million (DKK 7.5 million) in the prior year. The firm is currently investing in developing new products despite tough market conditions.

The firm said that job ads had increased in the public sector where it has a large market share. It also wants to increase investment opportunities in Sweden and Norway.

“We expect that at some point in the future there will be an improvement in the job market, so companies will again revive investment and demand more staff, but we have no hope that this will happen in 2013 or 2014,” the company said in its outlook statement.

“However, we believe in investing when the market is down and we are investing in strengthening the organisation and develop new products, so we are ready when the market turns around.”

In recent years, the firm has benefited from a rising share price and the last share price on 1 May reached DKK 454, up +21% from a year ago. Based on this stock price, the firm has a market value of €54.8 million (DKK 408.60 million).

Jobindex operates under the brand Jobsafari in a number of countries, including Scandinavia, Germany, France, Austria, the Netherlands, Switzerland and Spain.

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