Staffing and Recruiting

SJR

SJR is a staffing and recruitment company focused on providing mainly specialists and managers to companies in economy/finance, insurance, IT, HR and Supply Chain. In general, SJR has a larger share of recruitment than traditional staffing companies.

 

Key Figures

SJR

2017 2018e 2019e
Sales MSEK 385,4 422,9 463,1
Revenue growth 12,7% 9,7% 9,5%
Operating income MSEK 40,7 45,4 49,4
Operating margin 10,6% 10,7% 10,7%
Earnings per share SEK 3,0 3,4 3,7
Dividend per share SEK 2,9 3,2 3,4
Equity MSEK 61,0 66,0 70,9
Solidity 52,1% 51,9% 50,5%
Net debt MSEK -41,2 -50,1 -60,3
No. of shares (m) 10,5 10,5 10,5

Valuation

SJR

2016 2017 2018e 2019e
P/E (x) 14,4 15,6 14,5 13,3
P/BV (x) 7,0 8,0 7,8 7,2
EV/S (x) 1,0 1,2 1,1 1,0
EV/EBITDA (x) 9,4 10,6 9,8 8,9
EV/EBIT (x) 9,7 10,8 10,2 9,2
Yield (%) 6,8% 6,2% 6,5% 7,1%

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