How HeadHunter is developing
Posted: Sun Jan 26, 2025 10:56 am
HeadHunter Group's revenue for the first nine months of last year (the latest available data) increased by 14.9% compared to the same period last year and amounted to RUB 13.15 billion, while net profit decreased by 2.4 times, to RUB 1.653 billion. The company noted that uncertainty regarding future economic netherlands cell phone number list developments amid geopolitical events led to a decrease in the number of paying clients among small and medium-sized companies, but this was offset by an increase in average revenue per client (ARPC) in all segments due to annual price indexation and other measures aimed at increasing monetization. The total number of paying users for the first nine months of last year decreased by 4.8%, to 427.95 thousand.
In May 2019, during the IPO, investors valued the entire company close to its upper expectations, at $675 million. At the time of the halt of trading on NASDAQ at the end of last February, HeadHunter's capitalization was $761.1 million.
Head of Special Projects at RU-CENTER Alexey Zamesov recalled that HeadHunter is an absolute monopolist in its niche, but most likely, the company has exhausted its opportunities for rapid growth. "In 2021, HeadHunter had a spurt in profit and revenue growth, but in 2022, the company already showed a small organic growth. Therefore, the valuation based on the x8 to EBITDA multiplier looks fair, without a discount," he reasons. At the same time, Zamesov emphasized that the company is resilient to the current market situation and serves as an example of a "defensive asset" "that will provide a stable dividend flow in a wide range of market situations." "This deal may mean that Kismet is becoming a center for investments in non-politicized Russian IT unicorns, albeit without specific plans for subsequent exit from them. In addition, it obviously has a cash resource with a conservative strategy," the expert added.
In May 2019, during the IPO, investors valued the entire company close to its upper expectations, at $675 million. At the time of the halt of trading on NASDAQ at the end of last February, HeadHunter's capitalization was $761.1 million.
Head of Special Projects at RU-CENTER Alexey Zamesov recalled that HeadHunter is an absolute monopolist in its niche, but most likely, the company has exhausted its opportunities for rapid growth. "In 2021, HeadHunter had a spurt in profit and revenue growth, but in 2022, the company already showed a small organic growth. Therefore, the valuation based on the x8 to EBITDA multiplier looks fair, without a discount," he reasons. At the same time, Zamesov emphasized that the company is resilient to the current market situation and serves as an example of a "defensive asset" "that will provide a stable dividend flow in a wide range of market situations." "This deal may mean that Kismet is becoming a center for investments in non-politicized Russian IT unicorns, albeit without specific plans for subsequent exit from them. In addition, it obviously has a cash resource with a conservative strategy," the expert added.