Grupa Pracuj S.A (GPP) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue reached PLN 205m (+6% y/y), with net profit at PLN 66m (+7% y/y), and 9M 2025 revenue totaled PLN 614.2m (+5.4% y/y), with net profit at PLN 187.6m (+14.9% y/y), driven by expanded market reach and disciplined cost management.

• Growth was supported by strong performance in Poland and Ukraine, resilient results in Germany, and expansion in SaaS offerings and e-commerce channels.

• Group MRR from HR Software solutions grew 14% y/y, with continued client expansion and product innovation.

• The Group completed the acquisition of Kadromierz sp. z o.o. and increased stakes in Ukrainian entities, strengthening its HR software and recruitment platform portfolio.

Financial highlights

• Adjusted EBITDA reached PLN 97m (+3% y/y) in Q3 2025, with a 47% margin; 9M 2025 adjusted EBITDA was PLN 285.8m (46.5% margin).

• 9M 2025 revenue was PLN 614m (+5% y/y), with adjusted net profit at PLN 198m (+10% y/y).

• Net cash flows from operating activities were PLN 252.2m, with cash conversion at 93%.

• Dividend of PLN 144.7m was paid in July 2025 (PLN 2.10 per share).

Outlook and guidance

• Expecting mid single-digit revenue growth in Job Classifieds and mid-teen percentage MRR growth in HR Software for upcoming quarters.

• Maintaining a 45% full-year adjusted EBITDA margin at group level.

• Management anticipates organic revenue growth to PLN 1.4bn by 2030, with adjusted EBITDA margin above 40%.