Sweden – NetJob’s revenue during the second quarter increases as profits increase
August 12, 2022
The Swedish employment agency NetJobs (NJOB: STO) today reported revenue for the second quarter ending June 30, 2022 of SEK 6.3 million (EUR 0.6 million), an increase of 37% compared to the same period last year.
The company said it had continued sequential revenue growth.
(SEK million) | Q2 2022 | Q2 2021 | Change | Q2 2022 (millions of euros) |
Income | 6.3 | 4.6 | 37% | 0.6 |
EBITDA | 1.0 | 0.4 | 150% | 0.1 |
Operating results | 0.7 | 0.1 | 600% | 0.0 |
Profit after tax | 0.7 | 0.1 | 600% | 0.0 |
CEO, Niklas Eriksson, said: “Our business continues to develop positively and for the seventh consecutive quarter we are showing sequential net sales growth. Our primary focus is to continue growing in Sweden while evaluating other interesting markets for growth.”
“The Swedish market for job advertising and employer branding has been consolidated in recent years and we see good opportunities to increase our market share in the coming years,” says Eriksson. “In addition to our niche job sites, we will continue to grow our business with niche physical job fairs. A combination between digital and physical meeting places is in demand by both employers and candidates.”
For the six months ending June 30, 2022, the group reported a turnover of SEK 12.0 million (EUR 1.1 million), an increase of 34.8% compared to the same period last year.
“In step with increased turnover and improved operating margin, we will increase our investments in marketing and our technical platform, with the ambition of becoming the market-leading player in Sweden,” says Eriksson. “We continue to work focused with the goal of increasing sales and improving profitability for the rest of 2022.”
NetJobs Group shares last traded at SEK 1.16 (€0.11), up 31.67% on the day and 63.38% above the 52-week low of SEK 0.71 (€0.068) set on July 12, 2022. The company has a market capitalization of SEK 26.57 million (EUR 2.5 million).