Eezy plc (EEZY:HEX), a Finland-based staffing firm, reported today fourth-quarter revenue decreased by 19.6% when compared to the same period a year ago.

The main reason for the decline in revenue was sluggish demand in the staffing services segment.

“Our strategy is moving forward in a planned way in the unfavourable market situation,” Siina Saksi, CEO, said in a press release. “During the year, we have achieved the savings in line with our profitability programme and transformed our operating models. Good progress was made in implementing our AIdriven ERP (enterprise resource planning) system in staffing services. Our EBIT (operating profit) does not yet satisfy us.”

The decline in EBIT was driven by the fall in revenue.

Within the staffing services segment, in the last quarter, demand remained subdued in the construction, manufacturing and trade sectors. In the Horeca sector (hotel, restaurant, tourism and event sector), the company’s volumes were at a moderate level.

In the professional services business area, revenue in the last quarter was down. The fall in revenue is due in particular to weaker demand for employment services at the turning point of the public administration’s TE services reform (employment and economic development services). Demand for headhunting and personal assessment services has also been weak. The last quarter was a good one for research services, with a high order book in being repatriated into revenue, the company added.

“We go into 2025 with enthusiasm,” Saksi said. “The growth outlook for the economy is still uncertain, but with interest rates coming down, the economy is expected to pick up.”

Eezy’s full-year revenue amounted to €174.1 million (€219.0 last year), decreasing by 20.5% compared to the corresponding period in the previous year.

Eezy shares last traded at €1.11, down 6.72% on the day and 6.73% above its 52-week low of €1.04, set on 19 December 2024. The company has a market cap of €29.81 million.