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HEADHUNTER GROUP PLC

(HHR)
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HeadHunter : Q1 2021 Earnings slides

05/27/2021 | 09:23am EDT

Q1 2021 Financial Results

Supplementary Slides

May 27, 2021

Important Notice

This presentation, and the accompanying oral presentation, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation, and the accompanying oral presentation, that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our expected financial performance and operational performance for the fiscal year ending December 31, 2021, anticipated dividend payments, the consolidation of Skillaz, as well as statements that include the words "expect," "intend," "plan," "believe," "project," "forecast," "estimate," "may," "should," "anticipate" and similar statements of a future or forward-looking nature. These forward-looking statements are based on management's current expectations. Actual results may differ materially from the results predicted or implied by such statements, and our reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted or implied by such statements include, among others, significant competition in our markets, our ability to maintain and enhance our brand, our ability to improve our user experience and product offerings, our ability to respond to industry developments, our reliance on Russian Internet infrastructure, macroeconomic and global geopolitical developments affecting the Russian economy or our business, including coronavirus changes in the political, legal and/or regulatory environment, privacy and data protection concerns and our need to expend capital to accommodate the growth of the business, as well as those risks and uncertainties included under the caption "Risk Factors" in our final prospectus in connection with our Annual Report on Form 20-F for the year ended December 31, 2020 as such factors may be updated from time to time in our other filings with the U.S. Securities and Exchange Commission ("SEC"), which is on file with the SEC and is available on the SEC website at www.sec.gov. In addition, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements that we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this presentation are inherently uncertain and may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as predictions of future events. In addition, the forward- looking statements made in this presentation relate only to events or information as of the date on which the statements are made in this presentation. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Unless otherwise indicated, information contained in this presentation concerning our industry, competitive position and the markets in which we operate is based on information from independent industry and research organizations, other third-party sources and management estimates. Management estimates are derived from publicly available information released by independent industry analysts and other third-party sources, as well as data from our internal research and are based on assumptions made by us upon reviewing such data, and our experience in, and knowledge of, such industry and markets, which we believe to be reasonable. In addition, projections, assumptions and estimates of the future performance of the industry in which we operate and our future performance are necessarily subject to uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in the estimates made by independent parties and by us.

This presentation includes certain financial measures not presented in accordance with the International Financial Reporting Standards ("IFRS") including but not limited to, Adjusted EBITDA, Adjusted EBITDA Margin, ARPC, Net Working Capital, Capex, Adjusted Net Income and Net Debt / Adjusted EBITDA. These financial measures are not measures of financial performance in accordance with IFRS and may exclude items that are significant in understanding and assessing our financial results. Therefore, these measures should not be considered in isolation or as an alternative to loss after tax, revenue, gross profit or other measures of profitability, liquidity or performance under IFRS. You should be aware that our presentation of these measures may not be comparable to similarly-titled measures used by other companies, which may be defined and calculated differently. See the appendix for a reconciliation of these non-IFRS measures to the most directly comparable IFRS measure.

Certain figures in this presentation may not recalculate exactly due to rounding. This is because percentages and/or figures contained herein are calculated based on actual numbers and not the rounded numbers presented.

2

Key financial highlights

Revenue

Adjusted EBITDA1

RUB mm

RUB mm

48.7%

47.2%

43%

2,841

1,342

179

970

1,990

152

2,662

1,838

Q1 2020

Q1 2021

Q1 2020

Q1 2021

Russia

Other segments

Adjusted EBITDA Margin, %

  1. Adjusted EBITDA and Adjusted EBITDA margin are non-IFRS measures. See Appendix for a reconciliation to the nearest comparable IFRS measure.
  2. Capital expenditures ("CAPEX") consist of property and equipment additions, capitalized R&D and other additions of intangible assets
  3. Redesign of offices in Moscow and Yaroslavl
  4. Capex as % of revenue excluding one-off effects in 2019 and 2020

CAPEX2

RUB mm

2.6%41.9%

-46%

102

503

55

52

Q1 2020

Q1 2021

One off items

As % of Revenue, %

3

Customer base growth

Revenue growth in both client categories

Revenue by Type of Customer

Customer Base by Type of Customer

RUB mm

8,282

7,789

959

948

6,118

687

4,194

4,352

3,187

2,841

289

1,990

2,972

248

1,649

2,244

2,647

1,054

688

903

2018

2019

2020

Q1 2020

Q1 2021

Change, %

Number of Paying Customers, '000

2019-2020

Q1 '20-21

351

1%

17%

322

24

26

253

19

4%

56%

315

285

223

12%

31%

11

11

12

2018

2019

2020

Key Accounts

Small & Medium Accounts

Other 1

Change, % 2019-2020 Q1 '20-21

-8% 7%

234

14

164

10%

49%

13

209

141

6% 11%

11

10

Q1 2020

Q1 2021

  1. Other includes foreign customers in Russia, other customers and other segments

4

Customer base growth (cont'd)

Revenue growth in both geographical divisions

Revenue by Geography

RUB mm

Change, %

2019-2020

Q1 '20-21

8,282

7,789

959

1%

17%

948

6,118

2,641

687

2,279

1,584

16%

65%

2,841

4,683

289

3,847

4,561

1,990

1,023

248

619

1,529

3%

36%

1,123

2018

2019

2020

Q1 2020

Q1 2021

Moscow & St. Petersburg

Customer Base by Geography

Number of Paying Customers, '000

Change, %

2019-2020

Q1 '20-21

351

322

24

-8%

7%

26

253

19

192

234

168

14

119

164

14%

60%

13

135

84

115

129

135

85

5%

29%

66

2018

2019

2020

Q1 2020

Q1 2021

Other Regions of Russia

Other 1

  1. Other includes foreign customers in Russia, other customers and other segments

5

Disclaimer

HeadHunter Group plc published this content on 27 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2021 13:22:01 UTC.


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Sales 2021 12 482 M 170 M 170 M
Net income 2021 3 507 M 47,9 M 47,9 M
Net Debt 2021 2 607 M 35,6 M 35,6 M
P/E ratio 2021 45,4x
Yield 2021 2,09%
Capitalization 155 B 2 123 M 2 112 M
EV / Sales 2021 12,6x
EV / Sales 2022 9,94x
Nbr of Employees 832
Free-Float 16,2%
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Number of Analysts 15
Last Close Price 3 054,92 RUB
Average target price 3 108,12 RUB
Spread / Average Target 1,74%
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Managers and Directors
Mikhail Aleksandrovich Zhukov Chief Executive Officer & Director
Grigorii Moiseev Chief Financial Officer
Dmitri Krukov Chairman
Martin Robert Cocker Independent Director
Morten Heuing Independent Non-Executive Director
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