Declared Dividend • Apr 25
Final dividend increased to S$0.022 Dividend of S$0.022 is 3.3% higher than last year. Ex-date: 28th April 2026 Payment date: 7th May 2026 Dividend yield will be 5.5%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (81% earnings payout ratio) and cash flows (80% cash payout ratio). The dividend has increased by an average of 7.8% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 22
HRnetGroup Limited Approves Final Tax Exempt (One-Tier) Dividend for the Financial Year Ended 31 December 2025 HRnetGroup Limited announced at annual general meeting held on 21 April 2026, the shareholders approved final tax exempt (one-tier) dividend of 2.2 Singapore cents per ordinary share for the financial year ended 31 December 2025. Reported Earnings • Apr 11
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: S$0.052 (up from S$0.045 in FY 2024). Revenue: S$584.0m (up 3.0% from FY 2024). Net income: S$51.2m (up 15% from FY 2024). Profit margin: 8.8% (up from 7.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 8.1%. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Professional Services industry in Asia. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Apr 07
HRnetGroup Limited, Annual General Meeting, Apr 21, 2026 HRnetGroup Limited, Annual General Meeting, Apr 21, 2026, at 18:30 Singapore Standard Time. Location: 391a orchard road, 23-03 ngee ann city tower a, singapore 238873, Singapore Reported Earnings • Mar 02
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: S$0.052 (up from S$0.045 in FY 2024). Revenue: S$584.0m (up 3.0% from FY 2024). Net income: S$51.2m (up 15% from FY 2024). Profit margin: 8.8% (up from 7.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 8.1%. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Professional Services industry in Asia. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Feb 20
HRnetGroup Limited to Report Fiscal Year 2025 Results on Feb 25, 2026 HRnetGroup Limited announced that they will report fiscal year 2025 results After-Market on Feb 25, 2026 Reported Earnings • Aug 17
First half 2025 earnings released: EPS: S$0.029 (vs S$0.022 in 1H 2024) First half 2025 results: EPS: S$0.029 (up from S$0.022 in 1H 2024). Revenue: S$295.5m (up 3.4% from 1H 2024). Net income: S$28.0m (up 29% from 1H 2024). Profit margin: 9.5% (up from 7.6% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Professional Services industry in Asia. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Declared Dividend • Aug 15
First half dividend of S$0.02 announced Shareholders will receive a dividend of S$0.02. Ex-date: 25th August 2025 Payment date: 2nd September 2025 Dividend yield will be 5.8%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (77% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has increased by an average of 8.2% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 11% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 14
HRnetGroup Limited to Report First Half, 2025 Results on Aug 13, 2025 HRnetGroup Limited announced that they will report first half, 2025 results on Aug 13, 2025 Announcement • Jun 03
HRnetGroup Limited Announces Deborah Ho as Co-Owner of CREW by HRnet The Board of Directors of HRnetGroup Limited (the Group) announced the admission of Deborah Ho (Deborah) as a Co-Owner of CREW by HRnet (CREW), a brand formed to focus on local & foreign mass manpower solutions, as well as Business Process Outsourcing services across a broad swathe of services & industries. Deborah is a seasoned recruiter with over 15 years of industry experience. She began her career with Recruit Express, a brand of the Group, where she spent 12 years honing her expertise in human capital across various sectors. Following a valuable stint as in-house HR for one of the world's best airlines which deepened her understanding of internal talent strategies, she returned to the Group to launch CREW. Known for fostering recruitment partnerships grounded in trust, integrity, and long-term impact, Deborah brings a people-first approach to CREW. She is driven by a clear mission: to build sustainable teams that power long-term business success. Board Change • Jun 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Independent Director Esmond Choo was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Apr 28
Final dividend of S$0.021 announced Dividend of S$0.021 is the same as last year. Ex-date: 6th May 2025 Payment date: 15th May 2025 Dividend yield will be 5.8%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (88% earnings payout ratio) and cash flows (79% cash payout ratio). The dividend has increased by an average of 8.2% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 31% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Mar 10
Price target decreased by 8.2% to S$0.76 Down from S$0.82, the current price target is an average from 4 analysts. New target price is 8.6% above last closing price of S$0.69. Stock is down 3.5% over the past year. The company is forecast to post earnings per share of S$0.052 for next year compared to S$0.045 last year. Announcement • Feb 27
HRnetGroup Limited to Report Fiscal Year 2024 Results on Feb 26, 2025 HRnetGroup Limited announced that they will report fiscal year 2024 results on Feb 26, 2025 Reported Earnings • Feb 27
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: S$0.045 (down from S$0.064 in FY 2023). Revenue: S$567.0m (down 2.0% from FY 2023). Net income: S$44.5m (down 30% from FY 2023). Profit margin: 7.9% (down from 11% in FY 2023). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Professional Services industry in Asia. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 4% per year. Announcement • Feb 27
HRnetGroup Limited, Annual General Meeting, Apr 25, 2025 HRnetGroup Limited, Annual General Meeting, Apr 25, 2025. Upcoming Dividend • Aug 28
Upcoming dividend of S$0.019 per share Eligible shareholders must have bought the stock before 03 September 2024. Payment date: 11 September 2024. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 5.8%. Lower than top quartile of Singaporean dividend payers (6.2%). Higher than average of industry peers (5.2%). Reported Earnings • Aug 16
First half 2024 earnings released: EPS: S$0.022 (vs S$0.029 in 1H 2023) First half 2024 results: EPS: S$0.022 (down from S$0.029 in 1H 2023). Revenue: S$285.9m (down 3.0% from 1H 2023). Net income: S$21.7m (down 23% from 1H 2023). Profit margin: 7.6% (down from 9.6% in 1H 2023). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Professional Services industry in Asia. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 5% per year. Declared Dividend • Aug 14
First half dividend of S$0.019 announced Dividend of S$0.019 is the same as last year. Ex-date: 3rd September 2024 Payment date: 11th September 2024 Dividend yield will be 6.1%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (69% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 9.7% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 5.7% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 13
Hrnetgroup Limited Announces Interim Tax Exempt (One-Tier) Dividend for the Financial Year Ending 31 December 2024, Payable on 12 August 2024 The Board of Directors of HRnetGroup Limited (the "Company") declared an interim tax exempt (one-tier) dividend of 1.87 Singapore cents per ordinary share (the "Dividend") for the financial year ending 31 December 2024. The Dividend approved by the Directors on 12 August 2024 will be paid on 11 September 2024. NOTICE IS HEREBY GIVEN THAT the Share Transfer Books and Register of Members of the Company will be closed from 5.00 p.m. on 4 September 2024 for the purpose of determining members' entitlements to the interim tax exempt (one-tier) dividend of 1.87 Singapore cents perordinary share for the financial year ending 31 December 2024. Announcement • Jul 25
HRnetGroup Limited to Report First Half, 2024 Results on Aug 12, 2024 HRnetGroup Limited announced that they will report first half, 2024 results on Aug 12, 2024 Declared Dividend • Apr 27
Final dividend increased to S$0.021 Dividend of S$0.021 is 14% higher than last year. Ex-date: 15th May 2024 Payment date: 24th May 2024 Dividend yield will be 5.6%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (62% earnings payout ratio) and cash flows (71% cash payout ratio). The dividend has increased by an average of 9.7% per year over the past 6 years and payments have been stable during that time. EPS is expected to decline by 2.9% over the next 3 years. However, it would need to fall by 31% to increase the payout ratio to a potentially unsustainable range. Announcement • Apr 26
HRnetGroup Limited Approves Final Tax Exempt (One-Tier) Dividend for the Financial Year Ended 31 December 2023, Payable on May 24, 2024 HRnetGroup Limited at its annual general meeting held on April 25, 2024 approved Declaration of a final tax exempt (one-tier) dividend of 2.13 Singapore cents per ordinary share for the financial year ended 31 December 2023. The Dividend approved at the Annual General Meeting held on 25 April 2024 will be paid on 24 May 2024. Announcement • Apr 10
HRnetGroup Limited, Annual General Meeting, Apr 25, 2024 HRnetGroup Limited, Annual General Meeting, Apr 25, 2024, at 10:00 Singapore Standard Time. Location: 391A Orchard Road, #23-03 Ngee Ann City Tower A, Singapore 238873 Singapore Singapore Agenda: To consider Adoption of Directors' Statement and Audited Financial Statements for the financial year ended 31 December 2023 together with the Auditors' Report; to consider Declaration of a final tax exempt dividend of 2.13 Singapore cents per ordinary share; to consider Approval of payment of Directors' fees of S$250,000 and related expenses, including the issuance of the Remuneration Shares 2024, for the financial year ended 31 December 2024, payable half yearly in arrears; to consider re-election of directors of the company; to consider re-appointment of Messrs Deloitte & Touche LLP as Auditors and authority to fix their remuneration; to consider authority to allot and issue shares and convertible securities; and to consider approval of the Proposed Renewal of the Share Purchase Mandate. Announcement • Apr 09
Hrnetgroup Limited Proposes Final Tax Exempt (One-Tier) Dividend HRnetGroup Limited proposed at its AGM to be held on 25 April 2024 final tax exempt (one-tier) dividend of 2.13 Singapore cents per ordinary share. Major Estimate Revision • Mar 02
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from S$625.4m to S$587.2m. EPS estimate also fell from S$0.062 per share to S$0.056 per share. Net income forecast to shrink 8.9% next year vs 18% growth forecast for Professional Services industry in Singapore . Consensus price target down from S$0.85 to S$0.83. Share price fell 2.1% to S$0.71 over the past week. Announcement • Feb 23
HRnetGroup Limited to Report Fiscal Year 2023 Results on Feb 22, 2024 HRnetGroup Limited announced that they will report fiscal year 2023 results on Feb 22, 2024 Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: S$0.064 (vs S$0.067 in FY 2022) Full year 2023 results: EPS: S$0.064 (down from S$0.067 in FY 2022). Revenue: S$578.5m (down 5.4% from FY 2022). Net income: S$63.6m (down 5.9% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue is forecast to grow 4.1% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Professional Services industry in Asia. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 9% per year. Upcoming Dividend • Aug 25
Upcoming dividend of S$0.019 per share at 5.0% yield Eligible shareholders must have bought the stock before 01 September 2023. Payment date: 11 September 2023. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of Singaporean dividend payers (6.3%). Higher than average of industry peers (3.7%). New Risk • Aug 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 12
First half 2023 earnings released: EPS: S$0.029 (vs S$0.035 in 1H 2022) First half 2023 results: EPS: S$0.029 (down from S$0.035 in 1H 2022). Revenue: S$294.8m (down 6.2% from 1H 2022). Net income: S$28.3m (down 18% from 1H 2022). Profit margin: 9.6% (down from 11% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Professional Services industry in Asia. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 15% per year. Price Target Changed • Jun 28
Price target decreased by 8.4% to S$0.90 Down from S$0.98, the current price target is an average from 5 analysts. New target price is 18% above last closing price of S$0.76. Stock is down 2.6% over the past year. The company is forecast to post earnings per share of S$0.061 for next year compared to S$0.067 last year. Price Target Changed • Jun 23
Price target decreased by 7.7% to S$0.94 Down from S$1.02, the current price target is an average from 5 analysts. New target price is 21% above last closing price of S$0.78. The company is forecast to post earnings per share of S$0.064 for next year compared to S$0.067 last year. Board Change • Jun 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Group CFO & Executive Director Jennifer Kang was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 14
Full year 2022 earnings: EPS in line with expectations, revenues disappoint Full year 2022 results: EPS: S$0.068 (up from S$0.065 in FY 2021). Revenue: S$611.8m (up 3.6% from FY 2021). Net income: S$67.5m (up 3.1% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Professional Services industry in Asia. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 18% per year. Major Estimate Revision • Mar 03
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from S$651.5m to S$635.3m. EPS estimate also fell from S$0.072 per share to S$0.065 per share. Net income forecast to shrink 3.9% next year vs 20% growth forecast for Professional Services industry in Singapore . Consensus price target down from S$1.08 to S$1.03. Share price was steady at S$0.81 over the past week. Reported Earnings • Feb 24
Full year 2022 earnings: EPS in line with expectations, revenues disappoint Full year 2022 results: EPS: S$0.068 (up from S$0.065 in FY 2021). Revenue: S$611.8m (up 3.6% from FY 2021). Net income: S$67.5m (up 3.1% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 4.0% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Professional Services industry in Asia. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 13% per year. Announcement • Dec 30
HRnetGroup Limited announced that it has received SGD 1 million in funding HRnetGroup Limited announced that it has raised SGD $1,000,000 in a round of funding on December 28, 2022. Announcement • Oct 11
HRnetGroup Limited (SGX:CHZ) completed the acquisition of 49% of Octomate Pte Ltd from an independent seller. HRnetGroup Limited (SGX:CHZ) agreed to acquire 49% of Octomate Pte Ltd from an independent seller for SGD 0.65 million on October 3, 2022. The acquisition is expected to complete on or about October 10, 2022. In a related transaction HRnetGroup will also separately acquire an additional 2% of Octomate from its CEO and Co-Founder Zoey Tong, bringing the total interest of HRnetGroup in Octomate to a majority stake of 51%.
HRnetGroup Limited (SGX:CHZ) completed the acquisition of 49% of Octomate Pte Ltd from an independent seller on October 10, 2022. Announcement • Oct 04
HRnetGroup Limited (SGX:CHZ) agreed to acquire 48% of Octomate Pte Ltd from an independent seller for SGD 0.65 million. HRnetGroup Limited (SGX:CHZ) agreed to acquire 49% of Octomate Pte Ltd from an independent seller for SGD 0.65 million on October 3, 2022. The acquisition is expected to complete on or about October 10, 2022. In a related transaction HRnetGroup will also separately acquire an additional 2% of Octomate from its CEO and Co-Founder Zoey Tong, bringing the total interest of HRnetGroup in Octomate to a majority stake of 51%. Upcoming Dividend • Aug 22
Upcoming dividend of S$0.021 per share Eligible shareholders must have bought the stock before 29 August 2022. Payment date: 06 September 2022. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 5.3%. Lower than top quartile of Singaporean dividend payers (6.0%). Higher than average of industry peers (1.2%). Reported Earnings • Aug 16
First half 2022 earnings released: EPS: S$0.035 (vs S$0.036 in 1H 2021) First half 2022 results: EPS: S$0.035 (down from S$0.036 in 1H 2021). Revenue: S$314.2m (up 14% from 1H 2021). Net income: S$34.6m (down 3.7% from 1H 2021). Profit margin: 11% (down from 13% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 2.1%, compared to a 16% growth forecast for the Professional Services industry in Singapore. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 10% per year. Announcement • Jul 30
HRnetGroup Limited Announces Promotions of Business Leader Co-Owners HRnetGroup Limited announced the promotions of the following Business Leader Co-owners, in recognition of the achievements of the respective business units that they co-own and operate: Jacelyn Chua to Group Managing Director of RecruitFirst Singapore (RFS). Jacelyn joined Recruit Express Singapore in 1997 and was a Senior Director when she left the Group in 2011. Jacelyn returned to the Group as a pioneer and Co-Owner of RFS in 2013. Kung Shih Chan to Senior Managing Director of PeopleSearch Shanghai (PSSH). Kung joined PeopleSearch Taiwan in 2006 and subsequently relocated to Shanghai to pioneer the PSSH business as a Co-Owner in 2011. Miranda Chin to Group Business Leader of HRnetOne Taiwan (HRT). Miranda joined HRnetOne Taiwan in 2005, and went on to lead HRnetOne Hong Kong business for nearly 5 years before returning to Taipei in 2011 to run HRT. Rubby Rimbun to Senior Business Leader of HRnetOne Rimbun (HRI). Rubby joined the Group as a Co-Owner when the Group started HRI as a joint venture in 2018 with PT Rimbun Job Agency which Rubby had co-founded. Angela Kwak to Business Leader of HRnetOne Korea (HRKR). Angela joined HRnetOne Singapore in 2005 and subsequently returned to Seoul in 2011 to pioneer the business as a Co-Owner of HRKR. Announcement • Jul 01
HRnetGroup Limited Announces Executive Changes, With Effect From 1 July, 2022 The Board of Directors of HRnetGroup Limited announced the new composition of the board with the appointment of Hiroshi Sato (Hank) and Pong Chen Yih (Chen Yih) as Non-Executive Independent Directors with effect from 1 July 2022. With effect from 1 July 2022, the roles of the board members in the respective committees are reflected with changes indicated as follows: Executive Directors: 1. Peter Sim - Founding Chairman; and Member of Nomination Committee 2. JS Sim - CEO of Recruit Express Group of Companies 3. Adeline Sim - Chief Corporate Officer Non-executive Independent Directors 4. Mae Heng - Lead Independent Director; Chairman of Audit Committee; Chairman of Remuneration Committee; and Member of Nomination Committee. 5. Pong Chen Yih - Chairman of Nomination Committee; Member of Remuneration Committee; and Member of Audit Committee. 6. Hiroshi Sato - Member of Audit Committee. 7. Wallace Gao - Member of Remuneration Committee. Hank is the CFO at BeNext-Yumeishin Group (BeNext-Yumeishin). He led the successful merger of the 2 listed companies BeNext and Yumeishin last year with integration of businesses resulting in more than 100% increase in the size of the business and market capitalization. Hank brings with him 20 years of experience as CFO of large listed companies in Japan. He was previously the CFO and a board member of Technopro Holdings where he was instrumental to the success of IPO in 2014, and since then led various M&A initiatives and cultivated a strong following of global institutional investors. Chen Yih is the Chief Operating Officer of Novus Corporate Finance Pte. Ltd. (Novus). He was previously the lead partner for the Singapore Capital Markets Group of Baker McKenzie Wong & Leow where he practised law in the main areas of capital markets work, compliance, investments and mergers and acquisitions. Chen Yih is also an independent non-executive director of Singapore-listed Grand Venture Technology Limited and Figtree Holdings Limited. He regularly speaks at local and international conferences and seminars on topics such as capital raising and Singapore Exchange listing requirements. Chen Yih holds a Bachelor of Laws from the National University of Singapore. Board Change • May 06
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Wallace Gao was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 03
HRnetGroup Limited Announces Resignation of Tan Ngiap Siew as Independent Non-Executive Director and Cessation as Chairman of Remuneration Committee and Member of Audit and Nominating Committees HRnetGroup Limited announced resignation of Tan Ngiap Siew as an Independent Non-Executive Director. Reason for cessation: Tan Ngiap Siew is stepping down as a director of the Company due to health reasons. NS Tan will also cease to be the Chairman of the Remuneration Committee and a member of the Audit and Nominating Committees. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Non-Executive Independent Director Wallace Gao was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 18
HRnetGroup Limited Promotes Adeline Sim to Executive Director & Chief Legal Officer The Board of Directors of HRnetGroup Limited announced the promotion of Executive Director & Chief Legal Officer Adeline Sim. Effective 1 April 2022, Adeline has been promoted to be company's Executive Director & Chief Corporate Officer. Together with Founding Chairman and Group Chief Financial Officer, Adeline serves on the Group's Investment Committee which takes primary responsibility for acquisitions and investments by the Group, co-leads the Sustainability Committee as Sustainability Champion and is a member of the Compliance Committee. Adeline is a director of company's Korean subsidiary HRnet One Inc, Thai subsidiary HRnet Consulting Limited, and Indonesian subsidiaries PT HRnet Rimbun Indonesia and PT Recruit First Indonesia. Reported Earnings • Apr 14
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: S$590.5m (up 36% from FY 2020). Net income: S$65.5m (up 40% from FY 2020). Profit margin: 11% (in line with FY 2020). Revenue exceeded analyst estimates by 9.8%. Over the next year, revenue is forecast to grow 6.5%, compared to a 15% growth forecast for the industry in Singapore. Announcement • Feb 26
HRnetGroup Limited Proposes Final Dividend for the Financial Year Ended December 31, 2021 The Directors HRnetGroup Limited proposed the payment of a tax-exempt (one-tier) final dividend of 3.0 cents per ordinary share, in respect of the financial year ended 31 December 2021, subject to the approval of shareholders at the upcoming Annual General Meeting of the Company. Reported Earnings • Feb 25
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: S$0.065 (up from S$0.047 in FY 2020). Revenue: S$590.5m (up 36% from FY 2020). Net income: S$65.5m (up 40% from FY 2020). Profit margin: 11% (in line with FY 2020). Revenue exceeded analyst estimates by 7.7%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Over the next year, revenue is expected to shrink by 1.5% compared to a 15% growth forecast for the industry in Singapore. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Jan 30
HRnetGroup Limited Announces Promotions The Board of Directors of HRnetGroup Limited announced the promotions of Asako Yoshii, Ping Chen, and Steven Soh to Group Business Leader of HRnetOne Tokyo, PeopleSearch Taipei and RecruitFirst Singapore respectively. Asako joined the Group in Singapore in 2000, and subsequently returned to Tokyo in 2002 to take up a role in HRnetOne Tokyo. She became Business Leader in 2005 and manages the HRnetOne Tokyo office as a Co-Owner, leading practices in Healthcare Life Science, Chemicals and Industrial, as well as IT & Digital Transformation, HR and Finance functional specialisations. Ping joined the Group in 2004 as a Consultant and was appointed Business Leader in 2009. She leads the Commerce division of PeopleSearch Taiwan in delivering mid to senior recruitment assignments, flexible staffing projects and HR consulting programmes. Steven was first with the Group from 2008 to 2010, and returned in 2013 to become a pioneer member of RecruitFirst Singapore. He runs the market-leading Technology and Telecommunications Practice and with effect from 1 January 2022, has also assumed a Regional Key Account role for RecruitFirst. Upcoming Dividend • Dec 27
Upcoming dividend of S$0.01 per share Eligible shareholders must have bought the stock before 03 January 2022. Payment date: 11 January 2022. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Singaporean dividend payers (5.4%). Higher than average of industry peers (0.8%). Major Estimate Revision • Aug 20
Consensus EPS estimates increase to S$0.059 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from S$498.4m to S$535.3m. EPS estimate increased from S$0.052 to S$0.059 per share. Net income forecast to shrink 1.9% next year vs 22% growth forecast for Professional Services industry in Singapore . Consensus price target up from S$0.94 to S$1.04. Share price was steady at S$0.79 over the past week. Reported Earnings • Apr 07
Full year 2020 earnings released: EPS S$0.047 (vs S$0.051 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: S$433.0m (up 2.4% from FY 2019). Net income: S$46.9m (down 9.2% from FY 2019). Profit margin: 11% (down from 12% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 3% per year. Price Target Changed • Mar 03
Price target raised to S$0.64 Up from S$0.55, the current price target is an average from 3 analysts. The new target price is 9.4% above the current share price of S$0.58. As of last close, the stock is up 6.4% over the past year. Reported Earnings • Feb 27
Full year 2020 earnings released The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: S$433.0m (up 2.4% from FY 2019). Net income: S$46.9m (down 9.2% from FY 2019). Profit margin: 11% (down from 12% in FY 2019). The decrease in margin was driven by higher expenses. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 7.7%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Over the next year, revenue is expected to shrink by 3.4% compared to a 11% growth forecast for the Professional Services industry in Singapore. Is New 90 Day High Low • Feb 17
New 90-day high: S$0.58 The company is up 15% from its price of S$0.51 on 19 November 2020. The Singaporean market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is S$0.66 per share. Is New 90 Day High Low • Dec 09
New 90-day high: S$0.54 The company is up 16% from its price of S$0.46 on 10 September 2020. The Singaporean market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is S$0.58 per share. Price Target Changed • Dec 09
Price target raised to S$0.55 Up from S$0.51, the current price target is an average from 3 analysts. The new target price is close to the current share price of S$0.54. As of last close, the stock is down 13% over the past year. Is New 90 Day High Low • Nov 17
New 90-day high: S$0.51 The company is up 3.0% from its price of S$0.49 on 19 August 2020. The Singaporean market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Professional Services industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is S$0.52 per share.