Grupa Pracuj may need acquisitions to hit 2025 revenue goal, CFO says

Grupa Pracuj SA

04/04/2024 11:00

April 4 (Reuters) - Polish HR Tech platform Grupa Pracuj
 GPPP.WA  has assessed that achieving revenue of 1 billion
zlotys ($253 million) by 2025 may be challenging without
acquisitions, its CFO said on Thursday.
    "Such target is a big challenge and may be difficult to
achieve without acquisitions (...) if there were no
acquisitions, then this target will delay a little bit, probably
by one year", Gracjan Fiedorowicz told a press conference.  
    Grupa Pracuj said in its financial statement that it plans
acquisitions mainly in the HR Tech SaaS (Software as a Service)
area, while aiming to increase the share of revenue flowing from
it in the company's total revenue to 30% in 2025 and in the long
term to 50%. 
    The company also plans further overseas expansion. Germany
is currently its second largest market in terms of revenue,
accounting for 24% of total revenue.  
    Grupa Pracuj reported a 19% year on year rise in 2023
revenue, that came in at 724.4 million zlotys. 
    "This year, we expect steady, single-digit growth in the
number of recruitment projects published on our services and
continued, consistent growth in the number of clients using the
systems offered in the subscription model," CEO Przemyslaw Gacek
said in the statement.
     "We think this should result in double-digit growth rates
in recurring revenue in the HR Tech SaaS segment", he added. 
($1 = 3.9539 zlotys)

 (Reporting by Marta Maciag; Additional reporting by Rafal
Wojciech Nowak; Editing by Muralikumar Anantharaman)
 ((Marta.Maciag@thomsonreuters.com; +48 58 746 91 96))