Duyuru • Jun 22
HeadHunter Updates on its Appeal of the Delisting Determination by Nasdaq HeadHunter Group PLC provided an update on the status of its appeal against the determination of the Listing Qualifications Staff of The Nasdaq Stock Market LLC (‘Nasdaq’) to delist the Company's American Depositary Shares, each representing one ordinary share of the Company (the ‘ADSs’), from Nasdaq. As disclosed in the company’s press releases as of March 20, 2023 and March 22, 2023, the Listing Qualifications Staff notified the company of its determination to delist the Company's ADSs from Nasdaq in reliance on its discretionary authority under the Nasdaq Listing Rule 5101. The Company filed a request for a hearing to the Nasdaq Hearings Panel (the ‘Hearings Panel’) to appeal the delisting determination, which took place on April 27, 2023. On June 6, 2023, the company received the Hearings Panel's written decision (the ‘Final Delisting Decision’), pursuant to which the Hearings Panel upheld the delisting determination. The Company does not intend to request that the Final Delisting Decision be reviewed by the Hearings Panel's appeal body, as it would not be feasible to disentangle the Company's operations from Russia to the extent required for addressing the concerns raised by the Hearings Panel. Nasdaq announced a trading halt in the Company's ADSs on February 28, 2022. Following the Final Delisting Decision, trading in the company’s ADSs on Nasdaq was suspended on June 8, 2023, and the company’s ADSs will be delisted from Nasdaq. Following the delisting from Nasdaq, the Company will continue to adhere to its reporting obligations as long as the Company's ADSs are registered under the U.S. Securities Exchange Act of 1934, as amended. The trading of the Company's ADSs on the Moscow Exchange is unaffected and continues as usual. The Company is also considering several strategic alternatives which may be carried out following the delisting, potentially including providing liquidity to Company's shareholders, redomiciling or restructuring the Company by moving its corporate governance to Russia, with the Moscow Exchange remaining the primary trading market for the Company's shares. To date, the Company has not made any definitive plans. The Final Delisting Decision does not impact HeadHunter's business operations or financial position, and the company remain focused on maintaining business growth. Neither the Company nor any of its subsidiaries is directly subject to any sanctions imposed by authorities of the United States, the United Kingdom, the European Union or other countries. Duyuru • Jan 13
Kismet Capital Group acquired 22.68% stake in HeadHunter Group PLC (NasdaqGS:HHR) from Highworld Investments Limited. Kismet Capital Group acquired 22.68% stake in HeadHunter Group PLC (NasdaqGS:HHR) from Highworld Investments Limited on January 11, 2023.
Kismet Capital Group completed the acquisition of 22.68% stake in HeadHunter Group PLC (NasdaqGS:HHR) from Highworld Investments Limited on January 11, 2023. Duyuru • Nov 17
HeadHunter Group PLC, Annual General Meeting, Dec 08, 2022 HeadHunter Group PLC, Annual General Meeting, Dec 08, 2022, at 07:00 Coordinated Universal Time. Location: bldg. 10, Godovikova str. 9, Moscow Russia Agenda: To consider and approve the company’s audited consolidated and standalone financial statements and the management report therein for the year ended December 31, 2021; appointment of the company’s auditors; election of directors; approval of directors’ remuneration; and to discuss other matters. Duyuru • Nov 16
HeadHunter Group PLC Reports Goodwill Impairment for the Third Quarter Ended September 30, 2022 HeadHunter Group PLC reported goodwill impairment for the third quarter ended September 30, 2022 of $163,870,000. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₽1,193, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 17x in the Professional Services industry in Europe. Total loss to shareholders of 56% over the past year. Reported Earnings • Apr 30
Full year 2021 earnings released: EPS: ₽107 (vs ₽34.84 in FY 2020) Full year 2021 results: EPS: ₽107 (up from ₽34.84 in FY 2020). Revenue: ₽16.0b (up 93% from FY 2020). Net income: ₽5.39b (up 208% from FY 2020). Profit margin: 34% (up from 21% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 14% compared to a 9.8% growth forecast for the industry in Russia. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. 1 independent director (5 non-independent directors). Chairman of the Board Dmitri Krukov is the most experienced director on the board, commencing their role in 2019. Independent Non-Executive Director Olga Filatova was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improved over the past week After last week's 30% share price gain to ₽2,051, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 18x in the Professional Services industry in Europe. Total loss to shareholders of 26% over the past year. Price Target Changed • Mar 30
Price target decreased to ₽3,709 Down from ₽4,809, the current price target is an average from 7 analysts. New target price is 135% above last closing price of ₽1,580. Stock is down 39% over the past year. The company is forecast to post earnings per share of ₽121 for next year compared to ₽107 last year. Board Change • Mar 29
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. 1 independent director (5 non-independent directors). Chairman of the Board Dmitri Krukov is the most experienced director on the board, commencing their role in 2019. Independent Non-Executive Director Olga Filatova was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Duyuru • Mar 10
HeadHunter Group PLC Announces Board and Committee Changes On March 8, 2022, HeadHunter Group PLC announced that each of Martin Cocker, Thomas Otter and Terje Seljeseth had tendered their resignations as members of the board of directors of the Company (the “Board”), effective as of March 7, 2022 (the "Resignation Effectiveness"). These directors informed the Company that they resigned as a result of recent geopolitical developments. Each of Mr. Cocker, Mr. Otter and Mr. Seljeseth served as a member of the Audit Committee of the Board (the "Audit Committee"). Mr. Seljeseth served as a member of the Compensation Committee of the Board (the "Compensation Committee"). Mr. Otter served as a member of the Nominating and Corporate Governance Committee of the Board (the "Nominating Committee"). On March 7, 2022, upon recommendation of the Nominating Committee, the Board appointed Douglas Gardner, the founder and Managing Director of CAIGAN Capital, an advisory and director services firm, to serve on the Board, effective upon the Resignation Effectiveness. Also on March 7, 2022, upon recommendation of the Nominating Committee, the Board appointed (i) each of Olga Filatova, Douglas Gardner and Morten Heuing to serve as a member of the Audit Committee, (ii) Olga Filatova to serve as a member of the Compensation Committee, and (iii) Olga Filatova to serve as member of the Nominating Committee, in each case effective upon the Resignation Effectiveness. Following these appointments, (i) the Audit Committee is comprised of Olga Filatova, Douglas Gardner and Morten Heuing, with Mr. Gardner serving as chair, (ii) the Compensation Committee is comprised of Olga Filatova, Morten Heuing and Valentin Mashkov, with Mr. Mashkov serving as chair, and (iii) the Nominating Committee is comprised of Olga Filatova, Morten Heuing and Dmitri Krukov, with Mr. Krukov serving as chair. Reported Earnings • Mar 06
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: ₽107 (up from ₽34.84 in FY 2020). Revenue: ₽16.0b (up 93% from FY 2020). Net income: ₽5.39b (up 208% from FY 2020). Profit margin: 34% (up from 21% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 23%, compared to a 9.3% growth forecast for the industry in Russia. Duyuru • Mar 06
HeadHunter Group PLC to Report Fiscal Year 2021 Results on Mar 04, 2022 HeadHunter Group PLC announced that they will report fiscal year 2021 results on Mar 04, 2022 Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 54% share price decline to ₽1,587, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 20x in the Professional Services industry in Europe. Total loss to shareholders of 36% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ₽2,477 per share. Buying Opportunity • Feb 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be ₽4,342, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% per annum over the last 3 years. Earnings per share has grown by 52% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₽2,843, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 22x in the Professional Services industry in Europe. Total returns to shareholders of 29% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ₽4,908 per share. Buying Opportunity • Jan 18
Now 27% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be ₽4,571, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% per annum over the last 3 years. Earnings per share has grown by 52% per annum over the last 3 years. Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS ₽33.82 (vs ₽10.80 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₽4.69b (up 103% from 3Q 2020). Net income: ₽1.71b (up 214% from 3Q 2020). Profit margin: 37% (up from 24% in 3Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improved over the past week After last week's 23% share price gain to ₽4,733, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 22x in the Professional Services industry in Europe. Total returns to shareholders of 139% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ₽4,804 per share. Reported Earnings • Aug 18
Second quarter 2021 earnings released: EPS ₽24.95 (vs ₽4.37 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₽3.91b (up 155% from 2Q 2020). Net income: ₽1.26b (up 474% from 2Q 2020). Profit margin: 32% (up from 14% in 2Q 2020). The increase in margin was driven by higher revenue. Duyuru • Aug 17
HeadHunter Group PLC (NasdaqGS:HHR) acquired 9.97% stake in LLC Skilaz for approximately RUB 160 million. HeadHunter Group PLC (NasdaqGS:HHR) acquired 9.97% stake in LLC Skilaz for approximately RUB 160 million on June 28, 2021.
HeadHunter Group PLC (NasdaqGS:HHR) completed the acquisition of 9.97% stake in LLC Skilaz on June 28, 2021. Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment improved over the past week After last week's 20% share price gain to ₽3,716, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 24x in the Professional Services industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at ₽3,479 per share. Duyuru • Jun 04
HeadHunter Group PLC has completed a Follow-on Equity Offering in the amount of $166.5 million. HeadHunter Group PLC has completed a Follow-on Equity Offering in the amount of $166.5 million.
Security Name: American Depositary Shares
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 4,500,000
Price\Range: $37
Discount Per Security: $1.295 Reported Earnings • May 29
First quarter 2021 earnings released: EPS ₽17.86 (vs ₽7.27 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₽2.84b (up 43% from 1Q 2020). Net income: ₽898.8m (up 147% from 1Q 2020). Profit margin: 32% (up from 18% in 1Q 2020). The increase in margin was driven by higher revenue. Duyuru • Mar 19
HeadHunter Group PLC Provides Revenue Guidance for the Full Year of Fiscal 2021 HeadHunter Group PLC provided revenue guidance for the full year of fiscal 2021. The company currently expects its revenue to grow in the range of 37% to 42% in the year 2021 compared to the year 2020. Reported Earnings • Mar 19
Full year 2020 earnings released: EPS ₽34.80 (vs ₽28.96 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₽8.28b (up 6.3% from FY 2019). Net income: ₽1.75b (up 21% from FY 2019). Profit margin: 21% (up from 19% in FY 2019). The increase in margin was driven by higher revenue. Duyuru • Mar 10
HeadHunter Group PLC to Report Q4, 2020 Results on Mar 18, 2021 HeadHunter Group PLC announced that they will report Q4, 2020 results on Mar 18, 2021 Is New 90 Day High Low • Feb 25
New 90-day high: ₽2,546 The company is up 36% from its price of ₽1,867 on 27 November 2020. The Russian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₽1,907 per share. Is New 90 Day High Low • Feb 04
New 90-day high: ₽2,362 The company is up 27% from its price of ₽1,855 on 05 November 2020. The Russian market is up 17% 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 ₽1,722 per share. Duyuru • Dec 29
HeadHunter Group PLC (NasdaqGS:HHR) completed the acquisition of LLC Zarplata.ru from Hearst Shkulev Media OOO. HeadHunter Group PLC (NasdaqGS:HHR) entered into a sale and purchase agreement to acquire LLC Zarplata.ru from Hearst Shkulev Media OOO for RUB 3.5 billion on November 24, 2020. The consideration shall be paid in cash subject to customary price adjustments at closing as well as limited post-closing escrow arrangements. The Acquisition will be financed with a new debt facility the terms and source of which remain undetermined. HeadHunter has various sources of financing for the Acquisition available to it, including open debt facilities at VTB Bank and the ability to access the Russian domestic debt capital markets by issuing ruble bonds via the RUB 20 billion indefinite exchange bond program that HeadHunter established on MOEX in October 2020. As of December 14, 2020, Headhunter LLC completed the offering of bonds of series 001P-01R proceeds of which will be used to finance the acquisition of Zarplata.ru and for other corporate goals. Zarplata will operate separately from HeadHunter and will remain accessible at its existing web address, www.zarplata.ru. It is currently anticipated that the Zarplata management team will remain in place and will continue to be involved in further operations. In 2019, Zarplata generated total revenue of RUB 854 million. The transaction was approved by The Federal Antimonopoly Service of Russia and is subjected to customary closing conditions. The transaction is expected to complete by the end of January 2021.
HeadHunter Group PLC (NasdaqGS:HHR) completed the acquisition of LLC Zarplata.ru from Hearst Shkulev Media OOO on December 28, 2020. The Consideration on cash is subject to customary post-completion price adjustments and limited escrow arrangements (the “Acquisition”). The Acquisition was funded by proceeds from the Ruble bond that also closed in December and was previously announced. Duyuru • Dec 01
HeadHunter Group PLC Announces Appointment of Olga Filatova as an Independent Non-Executive Director HeadHunter Group PLC announced the appointment of Olga Filatova as an independent non-executive director nominated by ELQ Investors VIII Limited, effective December 1, 2020. Ms. Filatova replaces Evgeny Zelensky as a member of the Board of Directors. Ms. Filatova has held various executive positions in the human resources field. She founded People Innovations, an independent HR consultancy, in June 2018. Previously, Ms. Filatova served as VP HR & Educational Projects for Mail.ru Group, from September 2016 to June 2018, and as Managing Director for HR for Severgroup, from July 2015 to September 2016. During 2002 to 2016, she also held various positions at heavy industries, FMCG and oil companies. Duyuru • Nov 25
HeadHunter Group PLC (NasdaqGS:HHR) entered into a sale and purchase agreement to acquire LLC Zarplata.ru from Hearst Shkulev Media OOO for RUB 3.5 billion. HeadHunter Group PLC (NasdaqGS:HHR) entered into a sale and purchase agreement to acquire LLC Zarplata.ru from Hearst Shkulev Media OOO for RUB 3.5 billion on November 24, 2020. The consideration shall be paid in cash subject to customary price adjustments at closing as well as limited post-closing escrow arrangements. The Acquisition will be financed with a new debt facility the terms and source of which remain undetermined. HeadHunter has various sources of financing for the Acquisition available to it, including open debt facilities at VTB Bank and the ability to access the Russian domestic debt capital markets by issuing ruble bonds via the ?20 billion indefinite exchange bond program that HeadHunter established on MOEX in October 2020. Zarplata will operate separately from HeadHunter and will remain accessible at its existing web address, www.zarplata.ru. It is currently anticipated that the Zarplata management team will remain in place and will continue to be involved in further operations. In 2019, Zarplata generated total revenue of RUB 854 million. The transaction was approved by The Federal Antimonopoly Service of Russia and is subjected to customary closing conditions. The transaction is expected to complete by the end of January 2021. Analyst Estimate Surprise Post Earnings • Nov 21
Revenue beats expectations Revenue exceeded analyst estimates by 2.2%. Over the next year, revenue is forecast to grow 23%, compared to a 2.3% growth forecast for the Professional Services industry in Russia. Reported Earnings • Nov 21
Third quarter 2020 earnings released: EPS ₽10.80 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2020 results: Revenue: ₽2.31b (up 7.7% from 3Q 2019). Net income: ₽545.2m (up 2.6% from 3Q 2019). Profit margin: 24% (down from 25% in 3Q 2019). The decrease in margin was driven by higher expenses. Duyuru • Nov 12
HeadHunter Group PLC to Report Q3, 2020 Results on Nov 20, 2020 HeadHunter Group PLC announced that they will report Q3, 2020 results at 10:20 AM, GMT Standard Time on Nov 20, 2020 