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Denmark – Jobindex upgrades full year forecast again

21 July 2014

For the second time this year Danish job board Jobindex AS (JOBND: CPH) has upwardly revised its earnings forecast for the year, following a strong performance during the first half of the year.

The company reported revenue during the six month period of more than DKK 100 million (€13.4 million), and EBIT in the region of DKK 25 million (€3.4 million).

In May, Jobindex upwardly revised its revenue forecast for 2014 to DKK 200 million (€26.8 million), against an earlier forecast of DKK 190 million (€25.5 million). EBIT had been revised reach DKK 30 million (€4 million), compared with a previously predicted DKK 20 million (€2.7 million).

The company still expects to achieve revenue in the region of DKK 200 million (€26.8 million), but now expects to report EBIT in the region of DKK 40 million (€5.4 million).

Jobindex continues to dominate the Danish market, having growth over the past four years from being half as big as the other job boards combined to achieving a 50% share of the market. With the acquisition of Stepstone and it-jobbank, Jobindex is now twice as big as the other job boards combined.

In trading today the company’s share price rose by +4.2% to DKK 444 (€59.54), an increase of +8% compared with a year ago. Based on its share price, the company has a market value of DKK 383.4 million (€51.4 million).   

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