Already 7,544 people have seen this company's branding and they are being followed by 17 Storybook user.In average the company has been rated 4.4 points ja kommenteeritud 174 korda.

's activity report 2022

About the company

CV Keskus OÜ is a company managing job portals and a leading technology-based job search and recruitment environment in the Baltic States. In Latvia and

Lithuania, the company operates through local branches. The main services are web-based job search and recruitment services (EMTAK code 78101 - activities of employment agencies). The owner of CV Keskus OÜ is Ringier Axel Springer Media AG, registered in Switzerland.

The general development of the operating environment, its impact on the company's results and the prospects for the next financial year 2022 have been a record year for CV Keskus OÜ. In 2022, the company served the most clients and job seekers ever and achieved its best financial results. All this would not have been possible without years of consistent investment in the web platform and a highly motivated and qualified team.

2022 began with Russia's invasion of Ukraine, which the company clearly condemns. As some of the company's clients' business activities have previously been associated with raw materials from Russia or Belarus or have been significant exporting countries, this has led to the freezing of recruitment processes for these companies. Their share did not prove significant and the remaining customer base started the year with strong recruitment demand. However, demand changed in the second half of the year as economic conditions became more tense. Uncertainty among companies, due to rising costs of raw materials, labor and interest rates, forced companies to be more cautious in increasing the number of employees.

The rotation of existing employees also slowed down. All this has led to a smaller demand for recruitment.

The sales revenue for 2022 was 7,923,423 euros (2021: 6,813,219 euros). Net profit for 2022 was 2,541,881 euros (2021: 2,258,655 euros).

Significant events and investments in 2022 brought numerous innovative solutions to the market to simplify job search for job seekers.

Outlook

High inflation forced central banks to reduce stimuli and raise interest rates throughout 2022. We already see that many sectors are reporting a decrease in demand in their outlook for 2023. This is expected to be reflected in recruitment decisions. Considering the high level of the 2022 benchmark, we do not expect growth rates similar to 2022.

Our sector operates cyclically and the labor market usually lags behind the economic cycle, which suffered greatly in the second half of 2022. Therefore, we expect a decrease in demand in 2023.

On the other hand, the company faces strong competition in all regions. Entrepreneurs believe that the most important long-term challenges are global platforms and their goals in the field of job advertisements. CV Keskus OÜ invests significant resources on its websites to ensure quality job content. We currently see that only market participants with short-term goals share this asset with global platforms, applying their offered schemes. However, if the market fully accepts these, CV Keskus OÜ will have no choice but to follow, and the company's future prospects may become unclear.

Main financial ratios 2022 2021

Sales revenue (euros) 7,923,423 6,813,219

Turnover growth 16% 76%

Net profit (euros) 2,541,881 2,258,655

Profit growth/decline 13% 349%

Net profitability 32% 33%

Short-term liabilities coverage ratio 2.51 2.76