Sweden – Ogunsen’s revenue in the second quarter improves by 19.8% and profit rises
August 19, 2022
Swedish staffing company Ogunsen (OGUN B:STO) reported revenue for the second quarter ending June 30, 2022 of SEK 125.3 million (EUR 11.8 million), an increase of 19.8% compared to the previous year.
million kroner) | Q2 2022 | Q2 2021 | Change | Q1 2022 (millions of euros) |
Income | 125.3 | 104.7 | 19.8% | 11.8 |
EBITA | 14.0 | 12.1 | 15.7% | 1.3 |
EBIT (operating profit) | 13.6 | 11.8 | 15.2% | 1.2 |
Operating margin | 10.9% | 11.3% | – | – |
Profit after tax | 10.8 | 9.3 | 16.1% | 1.0 |
Ogunsen also reported revenue for the six months ending June 30, 2022 of SEK 247.8 million (€23.3 million), an increase of 23.1% compared to the previous year.
Kent Sangler, Managing Director said: “In summing up the first half of the year, we can note that the continued high demand in Q1 continued in Q2. Demand in both consulting and recruitment activities continued at a high level throughout the quarter. The sales engine continued to perform well in Q2 with a high inflow of new assignments.”
“Delivery in both consulting and recruiting during the quarter was high across all regions,” said Sangler. “During the quarter, we strengthened the personnel groups in all regions, which means that the delivery capacity is good. The challenge of attracting and delivering the right skills remains, at the same time we are now even stronger at delivering quality to our customers.”
“We continue to develop and innovate our work practices, methods and tools to promote efficiency and job satisfaction in working with our clients and candidates,” Sangler said. “Quarter 3 has started with continued good demand, taking into account the holiday season, and we see no signs of a deterioration in demand going forward, but are monitoring any changes in the market closely. We stand strong when it comes to meeting future challenges.”
Ogunsen shares last traded at SEK 39.60 (€3.73), up 4.21% on the day and 20.00% above the 52-week low of SEK 33.00 (€3.10) which was determined on June 29, 2022. The company has a market capitalization of SEK 367.01 million (EUR 34.52 million).