The following is a summary of the Recruit Holdings Co., Ltd. (RCRRF) Q3 2024 Earnings Call Transcript:
Financial Performance:
Recruit Holdings projected consolidated revenue to be flat YoY at ¥3.4 trillion, with consolidated adjusted EBITDA at ¥585 billion for FY 2023.
Profit attributable to owners is expected to reach a record high of approximately ¥354 billion.
An increase in Basic EPS and adjusted EPS by 34.1% and 16.9% respectively is expected.
Consolidated revenue for Q3 saw a decrease of 1.5%, attributable to lower revenue in the HR Technology sector.
For FY 2023, US dollar-based revenue for HR Technology is expected to drop by 15.5%, with an adjusted EBITDA margin of about 34%.
Business Progress:
Despite a decrease in HR Technology revenue, improvements were noted in Matching & Solutions and Staffing sectors and an advancement in adjusted EBITDA margin to 18.3%.
Revenue for HR Solutions is expected to decrease by 4.5%, but an increase of about 7% is anticipated in the Marketing Solutions segment.
The company introduced Indeed PLUS, a new job distribution platform for the Japanese market, and plans to simplify hiring processes.
Despite uncertainties around the Indeed PLUS initiative, early feedback from clients is positive.
More details: RECRUIT HOLDINGS CO LTD IR
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