Jobline Q4 results - 03/2001

Q4 revenues of SEK 78.2m (EUR 9.1m), up 54% on Q3 2000, and 312% over Q4 1999

Order values at SEK 107.3m (EUR 12.6m), up 74% on Q3 2000, and 210% over Q4 1999

Online Professional Search delivered 8,299 candidates in Q4 2000, a 47% increase over Q3, representing 35% of total revenues in Q4, up 100% over Q3

Q4 EBITDA of SEK -137.0m (EUR -16.0m), and SEK -358.5m (EUR -42.3m) for total year

Year end cash balance of SEK 651.3m (EUR 73.5m), representing SEK 17,80 (EUR 2,00) per share

Scandinavian Q4 revenues make Jobline the largest player in the region

Cash-flow break-even and profitability forecasted for Q1 2002 with a significant cash reserve left

Total orders received during the quarter were SEK 107.3m (EUR 12.6m), up 74% on the previous quarter, an increase of 210% over Q4 1999. Total revenues for the fourth quarter were SEK 78.2m (EUR 9.1m), an increase of 54% over the third quarter 2000 and of 312% over Q4 1999. Revenues grew 259% year on year.

The company reports that growth is being driven primarily by Online Professional Search contracts, of which a rising proportion are multi-country, longer duration agreements. However, management points out that the shift towards longer and larger search contracts is resulting in a longer conversion time from order to revenue flow and as a result revenue growth is below management expectations.

In terms of key operational statistics, Jobline reports Q4 candidate delivery up 47% over the third quarter, with a total of 23,588 candidates delivered for the year 2000. In registered users and active candidate profiles, there were increases of 26% and 21% respectively over the third quarter 2000. Markets outside Scandinavia represented 59% of registered users and 59% of active candidate profiles, and these saw increases of 53% and 44% respectively from Q3 2000. The company has seen a strong increase in traffic on Jobline websites across Europe with 13.8 million visits for the fourth quarter (TS Net Check, December, 2000) demonstrating continued solid growth.

The company reports that the partnership with Accenture (formerly Andersen Consulting) is progressing, with the launch of pilot clients for IntraJob, the competence management and recruiting tool for large organisations. In terms of funding, the successful private placement in May 2000 and the IPO in September 2000 mean that the company is fully funded through to an anticipated cash flow breakeven in the first quarter 2002.

www.jobline.com