JobIndex, the leading commercial recruitment site in Denmark, posted the highest of its 25-year history in the fourth quarter of 2020. The trend carried on into the first two months of 2021, according to the company.
“Our numbers show that things are going really well,” the company wrote in its earnings report. “The job advertisement market has returned and is currently at 102% of pre-crisis levels.”
This is a remarkable turnaround for the job site, which hosts around two-thirds of Denmark’s recruitment ads. Last March, the company saw job ads fall by around 50% as the Covid-19 pandemic shuttered the country’s offices.
By September, revenue was already starting to turn around. In Q4, revenue increased 14% year-on-year to DKK 86 million ($14 million U.S.) compared to DKK 76 million in the same quarter in 2019. EBITDA reached DKK 33.5 million, up from DKK 19.7 in the same quarter last year.
For the full year, revenue reached DKK 278 million ($45.5 million U.S.), down 11% year-on-year. Full-year EBITDA reached DKK 90.4 million, or a 5% year-on-year decrease.
“The pandemic is not over and may still give rise to new restrictions and shutdowns,” the company wrote. However, it was quick to point out that it was the feeling of uncertainty that slowed the job market last spring, not the restrictions. With the end of the pandemic in sight, the company believes the upswing will continue to endure.