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In the first quarter, the profit and operational results of Work Service Group are increasing

In the first months of 2017, Work Service Capital Group has reported a significant increase in its results. The revenues increased by 11% compared to the previous year and  amounted to over PLN 655 million. Operating profit exceeded PLN 25 million. This means that after the first three months, the group has already realized over 29% of the guidance for the entire year. Recently, the group has focused on improving effectiveness and introducing changes which would allow it to fully exploit the strength of the buoyant conditions on the personnel services market.

In the first quarter of 2017, Work Service Group revenue increased by nearly 11% to PLN 655 million. In-line with the stated strategy being realized by the company, the main triggers of the development are organic growth and intensifying the already existing business and territory lines. 44,7% of the revenues came from international activities, which in value terms was over PLN 25 million higher than in the equivalent period last year.

“The last quarter was very good for us. The results show both development of our business and significant increase of profitability. We skilfully exploited the prosperity on the job market in Central and Eastern Europe and thanks to this, we have recorded strong organic growth of 9% year over year. At the same time, we are introducing changes in the group all the time, which are expected to improve our efficiency. Some effects of these activities are already visible, which is demonstrated by the highest EBDITA level recorded in our history being achieved in the first quarter of this year” says President of Work Service S.A. Maciej Witucki.

After the first three months, the EBITDA of Work Service Group, amounted to PLN 29,3 million, which constituted a growth by 43% compared to the same period in 2016. At the same time, the Group recorded an increase in profit from sales, from a level of PLN 15 million last year to over PLN 26 million. The improvement of efficiency is visible also at the level of net profit which amounted to PLN 12,4 million; this result is nearly three times higher than in the previous year.

“We focus on balanced development built on solid foundation. On the one hand, we introduce new recruitment tools, so that in the current market condition, we have access to the biggest database of candidates. On the other hand, we focus both on improving the effectiveness of financing and the conducted business. As a result of our activities, after three months, we already passed the level of PLN 25 million of operating profit. This way, we have already reached 29% of the level forecasted at the end of the year” adds Maciej Witucki.

Key financials of the Work Service Group for the period from 1 January 2017 to 31 March 2017 compared to the same period of the previous year:

 

Consolidated data
(in PLN thousands)

 

2017

 

2016

 

Change
year over year

Revenues

655 062

591 248

+10,79%

EBTIDA

29 337

20 387

+43,90%

Sales profit

26 226

15 087

+73,83%

EBIT profit

25 218

16 677

+51,21%

Net profit

12 395

4 240

+192,4%

 

 

***

Work Service Group operates since 1999 and is the largest provider of comprehensive HR services on the Polish market. It operates throughout Poland through a network of branches and also in 16 other countries (Russia, Germany, Czech Republic, Turkey, Romania, Hungary, Slovakia, Great Britain, Belgium, France, Switzerland, Slovenia, Bulgaria, Serbia, Croatia and China). Its specialty areas include personnel consulting services as well as HR restructuring, recruitment and staff outsourcing. More than 3,000 companies have already chosen Work Service as their business partner. Every day, 50,000 people – and 300,000 candidates a year – find employment via companies belonging to the Work Service Group. For more information: www.workservice.pl

Media contact:

Andrzej Kubisiak

Press Spokesman

mobile: +48 512 176 030

e-mail: andrzej.kubisiak@workservice.pl

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Press Officer

Andrzej Kubisiak


Andrzej Kubisiak

tel. +[48] 512 176 030
andrzej.kubisiak@workservice.pl

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