Grupa Pracuj S.A (GPP) Q4 2024 earnings summary

Executive summary

• Achieved PLN 770m revenue in FY 2024, up 6% year-over-year, with strong performance in Poland, Ukraine, and Germany.

• Adjusted EBITDA reached PLN 347m (+5% y/y), maintaining a high 45% margin.

• Net profit increased 11% y/y to PLN 209m; adjusted net profit up 16%.

• Demonstrated resilience and growth despite challenging macroeconomic conditions in core markets.

• Continued strategic expansion in HR software, notably through the successful integration of softgarden.

Financial highlights

• Revenue grew 6% y/y to PLN 770m; adjusted EBITDA up 5% y/y to PLN 347m.

• Net profit rose 11% y/y to PLN 209m; adjusted net profit up 16% to PLN 262m.

• Cash conversion remained strong at 93%; net debt/equity ratio improved to 0.17.

• Dividend payout ratio at 69%, with PLN 2.00 per share recommended.

• Revenue CAGR (2015–2024) at 16%; EBITDA CAGR at 18%.

Outlook and guidance

• Anticipates single-digit organic revenue growth in 2025, above inflation.

• Strong financial position and cash flow to support further investments and M&A.

• Ongoing innovation in HR technology and continued expansion in the DACH region.