Russian job board HeadHunter Group said on Friday that its revenue in 2019 reached 2.06 billion rubles ($28.5 million) for the fourth quarter of 2019, an increase of 22.8% compared to the previous year.
HeadHunter launched its IPO last year and was the first Russian company since 2013 to begin trading shares on the U.S. Nasdaq Stock Market.
Revenue is up 22.8% primarily due to the increase in revenue in the group’s Russia segment, the company said.
The group’s Russia segment revenue was up 22.3% in the fourth quarter. HeadHunter said this was mainly driven “by an increase of 17.2% in the number of paying customers in small and medium accounts and an increase of 17.3% in the average revenue per customer in key accounts in Moscow and St. Petersburg.”
Net Income growth for the company was mainly driven by the increase in revenue while Adjusted EBITDA was up also primarily due to the increase in revenue.
HeadHunter also published its full-year results for 2019. Revenue increased to RUB 7.78 billion (USD 107.6 million), up 27.3%, again primarily due to the increase in revenue in the Russia segment (+26.5%).
Mikhail Zhukov, Chief Executive Officer of HeadHunter Group, said: “Against a backdrop of global economic turbulence and in a period when it has been especially important for us to build trust and long-term relationships with the investor community, we have posted remarkable financial and operational results in our first-year post IPO.”
Looking ahead, Zhukov said, “Overall, whilst we are happy with our results to date, we stay cautious about the impact of the COVID-19 virus. We hope that stability will return in the near future leading to a consequent acceleration in the economy in general and the recruitment market in particular.”