In the 1st half of 2024 Grupa Pracuj generated consolidated revenue of PLN 389.6m, up 5.4% from the same period of 2023. The consistent revenue growth resulted from higher prices for recruitment projects on the Polish platform Pracuj.pl, strong increased demand for recruitment projects on the Ukrainian platform Robota.ua, and a growing number of customers for the services offered in a subscription model (SaaS) in Poland and Germany.
The 1st half of 2024 brought further growth of over 5% in the revenue of Grupa Pracuj in a highly demanding market environment. Our job boards in Poland and Ukraine succeeded in reinforcing their positions on both of those markets. We are steadily gaining new customers using services offered in a subscription model in Poland and Germany. Monthly recurring revenue from the HR technology SaaS segment rose in the last half-year by nearly 25% y/y, demonstrating the high resilience of this segment to changing market conditions. In the 2nd quarter we also noted a small increase in the number of recruitment projects on Pracuj.pl, the first increase in quite some time. Today it is hard to say clearly how strong and lasting this revival will be. In connection with the continuing high economic and geopolitical uncertainty, we remain cautiously optimistic. We are effectively adapting to market conditions, concentrating on specific segments of the labour market. We are adjusting the intensity of our marketing efforts accordingly, while maintaining strict cost controls
– Przemysław Gacek, CEO of Grupa Pracuj.
Pracuj.pl extends its reach, and eRecruiter celebrates its 15th anniversary
We are continually adjusting the offer of Pracuj.pl to the evolving and challenging market conditions, introducing innovations in our support for both employers and candidates. This allows us to reinforce the market position of our flagship platform while achieving higher average prices for the solutions we offer
– Rafał Nachyna, COO of Grupa Pracuj.
At the same time we are steadily expanding the range of services and products offered on Pracuj.pl. Tools such as Pracuj Booster and Zasięg+ are examples of new solutions raising the visibility of recruitment projects on the platform itself and beyond, translating into greater responsiveness from candidates. Another implemented solution is Pracuj AdNetwork, which expands the reach of recruitment projects to include new external platforms, including social media. We are also continuing our work on a new mobile app which we call Pracuj Stories. Following successful tests, we intend to roll it out in the 3rd quarter for Android devices
– Rafał Nachyna.
Germany’s softgarden is not slowing down
Robota.ua generates record revenue
Despite the ongoing war, we observe growing activity on the part of employers, who are struggling with more and more acute shortages of candidates on the Ukrainian labour market. This translates into high, double-digit growth in the number of recruitment projects sold on Robota.ua. The virtual HR Day organized in the 2nd quarter of this year by our Ukrainian team attracted over a thousand participants. It was the biggest event of its kind in Ukraine this year
– Rafał Nachyna.
Growing operating scale teamed with high margins
Selected consolidated financial results of Grupa Pracuj
*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.
**Fosway 9-Grid™ 2024 is a report assessing and classifying providers of HR technology solutions. The report presents a graphic map of the market, where providers are placed on the grid depending on their performance and potential, enabling customers to quickly compare different providers, evaluating them based on criteria such as innovation, tech capabilities, customer satisfaction, and market impact.
***Excluding the cost of job offers sold acquired by softgarden for the purpose of resale in the multiposting service.
Grupa Pracuj is a leading technology platform in the HR sector in Europe. It supports enterprises in recruitment, retention and development of their staff, helps users of its platforms find the right job enabling them to make full use of their potential, and creates world-class technologies shaping the future of the HR market. The group’s brands make up an advanced digital ecosystem for the HR industry. The key brands include Pracuj.pl, the largest Polish online recruitment service; Robota.ua, a leading online recruitment service on the Ukrainian market; eRecruiter, the leading Polish recruitment support system, offered in an SaaS model; and softgarden, a leader of the talent acquisition suites market in Germany, also with a presence on other European markets. Grupa Pracuj has operated for 24 years in Poland, 18 years in Ukraine, and since 2022 also in Germany. The group has a total of about 1,100 employees. The company has been listed on the Warsaw Stock Exchange since December 2021.