Corrected: Poland's Grupa Pracuj full-year adjusted EBITDA rises 5% y/y

Grupa Pracuj SA

27/03/2025 06:05

Corrects fourth paragraph on growth of the Ukrainian market to 25.7% from 25.7$

GDANSK, March 27 (Reuters) - Polish recruitment services company Grupa Pracuj  GPPP.WA on Thursday reported a 5% rise in full-year adjusted EBITDA to 346.9 million zlotys ($89.36 million), with the revenue rising 6.3% to 770 million zlotys.

WHY IT’S IMPORTANT

Grupa Pracuj is the country's biggest Human Resources technology company with its biggest online job recruitment  platforms in Poland and Ukraine.

BY THE NUMBERS

Grupa Pracuj net profit for the twelve months of 2024 came in at 204.3 million zlotys compared to 185.0 million zlotys in 2023, mainly due to an increase in operating profit and the update of the fair value of shares in Beamery Inc.

The revenue from the German market amounted to 146.1 million zlotys, while from the Ukrainian market grew 25.7% year-on-year, mainly thanks to an effective pricing policy and a growing number of paid recruitment projects, which stems from a high shortage of workers.

EBITDA margin for the period fell 0.5 p.p. year-on-year to 43.2%.

CONTEXT

        In year 2024 the number of active clients on Pracuj.pl, the Polish-language online recruitment platform belonging to the company, amounted to over 59 thousands. Group's Chief Operating Officer, Rafal Nachyna said in January, in an interview with PAP Biznes that year 2025 "may be the period of growth" of the number of recruitment projects. According to Nachyna, a positive change may be expected in the IT sector, which saw a decline in the number of job offers in 2024.

OUTLOOK

The Group aims to increase the share of HR Software revenues in total revenues to 30% in 2025, and in the long term to 50%. Further sustainable growth is to be ensured by the Group's organic development, acquisitions focused on the HR Software segment and further foreign expansion

($1 = 3.8821 zlotys)

 (Reporting by Anna Banacka; Editing by Kim Coghill)

 ((Anna.banacka@thomsonreuters.com; +48 58 769 65 65))