In the 3rd quarter of 2024 Grupa Pracuj generated consolidated revenue of PLN 193m, up 6.5% from the same period of 2023. This growth resulted from the greater number and higher average price of recruitment projects on the Polish platform Pracuj.pl, continued high demand for recruitment projects on the Ukrainian platform Robota.ua, and a steadily rising number of employers using services offered in the SaaS model in Poland and Germany.
The revenue growth during the period was accompanied by improvement in profitability. Grupa Pracuj achieved an adjusted EBITDA1 in the 3rd quarter of this year of PLN 94.2m (+7.5% y/y) and a consolidated net profit of PLN 62m (+23.0% y/y).
The results achieved by Grupa Pracuj in the third quarter of this year are confirmation of our organization’s effective adaptation to the demanding and evolving market conditions. The stable position of leading player in the segment of white-collar job postings in Poland enables us to work on a more comprehensive offer for our customers and to address all their recruitment needs. We also actively support employers on the Ukrainian market who are struggling with a shortage of job candidates, through actions and services aimed at activating users of Robota.ua
- said Przemysław Gacek, CEO of Grupa Pracuj.
We are also steadily gaining new customers using services offered in a subscription model by eRecruiter in Poland and softgarden in Germany. This translates into consistent growth in revenue. We are already generating 26% of our revenue from the HR technology SaaS segment, which displays higher resilience to volatile market conditions. In the past quarter we also recorded an increase in profitability, particularly from our operations on the German and Ukrainian markets, which reflects our concern for high efficiency in our operations
- commented Gracjan Fiedorowicz, CFO of Grupa Pracuj.
In the last quarter, the second in a row, we noted a slight increase in the number of recruitment projects on the Pracuj.pl platform, which may herald a reversal of the negative trend from earlier periods. The structure of the postings we publish is also changing, with a growing share of job offers for candidates from the pink-collar and blue-collar categories. In the upcoming quarters we anticipate further single-digit growth in both the number and average price of recruitment projects on Pracuj.pl
- added Przemysław Gacek.
Pracuj.pl again achieves growth
We are continually expanding the offer of Pracuj.pl, introducing innovations in serving both employers and candidates. In the past quarter we focused on improving our proprietary AI-driven recommendation programs for candidates. Thanks to the rollout of a new account for candidates, now 100% of platform users can take advantage of our AI-backed services. The percentage of applications is also growing, as 53% of clicks in the ‘Apply’ section resulted from AI-based recommendations. On the Pracuj.pl platform we have also introduced automatic status updates on job applications. This is the first such tool on the Polish market, through which candidates can see the stage of processing their application. This solution facilitates the relationship between candidate and employer, building trust and mutual respect starting from the initial contact
- said Rafał Nachyna, COO of Grupa Pracuj.
eRecruiter selected by more and more employers
Germany’s softgarden increases scale and margins
Robota.ua customers actively seeking workers
Ukrainian employers are facing a constant shortage of job candidates, which translates into high activity by these employers in their search for talent. We anticipate that this situation will continue in the upcoming quarters. Thus, on one hand we are striving to support employers by offering them new tools, and on the other hand we are focusing on activating candidates, including through the Diia application, which is a ‘digital passport’ enabling Ukrainian citizens to make use of numerous state services
A quarter when profit grew faster than revenue
1 Adjusted EBITDA means operating profit plus amortization, adjusted by the costs of share-based payment programmes, costs related to acquisitions, and costs of restructuring in acquired companies, indicated in the consolidated report on total income.
2 The multiposting service consists of automated publication of job offers across numerous recruitment sites.
3 Including the cost of sold postings acquired by softgarden for the purpose of resale in the multiposting service.
