01 March 2023

Swedish staffing firm Ogunsen AB (OGUN B:STO), formerly known as SJR in Scandinavia, reported revenue yesterday for the fourth quarter ending 31 December 2022 of SEK 140.0 million (€12.6 million), an improvement of 14.7% compared to the year prior.

Kent Sangler, Managing Director, said, “We look back on a fantastic fourth quarter with continued good growth and good profitability.”

The group’s operations primarily consist of a consulting operation and a recruitment operation. Consultancy consists of providing consultants to companies that are in need of expertise for a limited period of time.

Recruitment activities consist of providing suitable candidates through a recruitment process with a focus on specialist and managerial positions primarily in the business support area

Revenue for the consulting hire segment amounted to SEK 123.5 million (€11.1 million), which is an increase of 18.2% compared to the corresponding period last year.

Revenue for the recruitment segment during the fourth quarter amounted to SEK 16.5 million (€1.5 million), which is a decrease of 6.3% compared to the same period last year.

For the full year, the group reported revenue of SEK 505.2 million (€45.6 million), up 20.2% over the year.

Sangler continued, “The continued increasing demand during the first half of 2022 stabilised during the second half of the year at the same level as the second half of 2021. Slightly better for the consulting business and slightly lower for the recruitment business.”

Looking ahead, Sangler said, “During the beginning of 2023, we can discern a somewhat wait-and-see market. We work for continued growth and continue the work to streamline operations and further improve the experience in collaboration with our customers and candidates. We monitor any changes in the market and we are prepared to face any future challenges.”

Ogunsen shares closed at SEK 49.45 (€4.48), up 6.23% on the day and 10.09% below its 52-week high of SEK 55.00 (€4.97), set on 11 April 2022. The company has a market cap of SEK 456.19 million (€41.24 million).