SaraminHR, Recruitment Market Recovery... Continued High Growth (Samsung Securities)
SaraminHR, Recruitment Market Recovery... Continued High Growth (Samsung Securities)
  • 이지선 기자
  • 승인 2021.11.26 08:20
  • 최종수정 2021.11.26 00:32
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This article is translated by AI company Flitto and Infostock Daily using neural machine translation technology.


Samsung Securities maintained its target stock price of KRW 66,000 and investment opinion "buy" on Saramin HR, saying that high growth continues due to the recovery of the job market.

Samsung Securities analyzed, "In the third quarter, matching platform sales grew 32.8% year-on-year to 24.1 billion won, exceeding the annual average sales growth rate of 13.3% between 2015 and 2020.".

"As the job market continued to recover, job portals grew 61 percent year-on-year, driving overall growth, while recruitment agency sales fell 37 percent year-on-year, due to the increased base effect as recruitment agency sales in the second quarter of last year were postponed to the third quarter," Samsung Securities said.

Samsung Securities also added, "The cumulative sales of recruitment agencies through the third quarter grew steadily, rising about 10 percent year-on-year, and operating profit in the third quarter grew 65.4 percent year-on-year to 10.9 billion won.".

"The high growth of matching platforms is expected to continue in the fourth quarter," Samsung Securities said. "The recovery effect of COVID-19 will decrease and the growth rate of job portal sales in the fourth quarter will be slightly lower to around 40%, but recruitment agency sales will recover to the second-quarter level due to the peak season effect at the end of the year, and overall sales growth is expected to exceed the third-quarter level.".

"Saramin has continued high growth of matching platforms due to the recovery of the job market, and has secured additional growth engines through continuous launch of new products such as AI products and recruitment-type products," Samsung Securities explained.

Reporter Lee Ji-sun

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