Online job search and recruitment platform HeadHunter (NASDAQ: HHR) published financial statements for the first quarter of 2021. The company's revenue increased by 42,7%, up to 2.84 billion rubles, by restoring client activity and consolidating financial results with the Zarplata.ru service, who bought in December 2020.
Headhunter net profit, which includes various non-monetary items, grew by 126%, up to 0.93 billion rubles. Adjusted net income added 46,2% and amounted to 0.85 billion. Net debt decreased from 4,91 up to 3.36 billion rubles.
Your clients in Russia, which bring 94% all proceeds, HeadHunter divides into groups depending on their income and headcount: key clients - with revenue of 2 billion rubles and more than 250 employees; small and medium customers — with revenue up to 2 billion rubles and staff up to 250 people; other clients, including foreign.
In the key customer segment, HeadHunter's revenue increased by 31,2%: increased prices for services and, Consequently, ARPC indicator - average revenue per customer. Sales in the segment of small and medium customers added 56,5% due to the influx of new customers, as well as the low base effect in the first quarter of 2020.
“We continue to see significant competition for labor, which motivates Russian companies to use new and more effective ways of recruiting”, - said the head of the company Mikhail Zhukov. HeadHunter leadership expects, that in 2021 the company's revenue will grow by 45-50% compared to last year.
Key financial indicators in the first quarter, million rubles
| 2020 | 2021 | The change | |
|---|---|---|---|
| Revenue | 1990 | 2841 | 42,7% |
| Net profit | 412 | 930 | 126% |
| Adjusted net income | 581 | 850 | 46,2% |
| net debt | 4909 | 3356 | −31,6% |
Revenue
2020
1990
2021
2841
The change
42,7%
Net profit
2020
412
2021
930
The change
126%
Adjusted net income
2020
581
2021
850
The change
46,20%
net debt
2020
4909
2021
3356
The change
−31,6%
Segment revenue in the first quarter, million rubles
| 2020 | 2021 | The change | |
|---|---|---|---|
| Key clients | 688,4 | 902,8 | 31,2% |
| Small and medium-sized clients | 1054,2 | 1649,3 | 56,5% |
| Total | 1990,4 | 2841,1 | 47,2% |
Key clients
2020
688,4
2021
902,8
The change
31,20%
Small and medium-sized clients
2020
1054,2
2021
1649,3
The change
56,50%
Number of paying users in the first quarter
| 2020 | 2021 | The change | |
|---|---|---|---|
| Key clients | 9661 | 10 754 | 11,3% |
| Small and medium-sized clients | 140 761 | 209 259 | 48,7% |
| Total | 163 891 | 234 422 | 43,0% |
Key clients
2020
9661
2021
10 754
The change
11,3%
Small and medium-sized clients
2020
140 761
2021
209 259
The change
48,7%
ARPC in the first quarter, rubles
| 2020 | 2021 | The change | |
|---|---|---|---|
| Key clients | 71 250 | 83 951 | 17,8% |
| Small and medium-sized clients | 7489 | 7882 | 5,2% |
Key clients
2020
71 250
2021
83 951
The change
17,8%
Small and medium-sized clients
2020
7489
2021
7882
The change
5,2%
