StepStone set for record Q3 results

StepStone today announced that it has experienced strong business growth and momentum during the 3rd quarter with both Online and Solutions continuing to gain new customers and grow market share.

Based upon the strong start to the summer quarter and our ability to continue momentum through September StepStone is set to deliver record results that are above expectation. Revenue is now expected to be in the region of ?25m- ?25.4m and adjusted EBITDA in the region of ?4.3-4.5m.

The talent management and online recruitment markets continue to demonstrate robust demand in all of our operating regions, StepStone CEO, Colin Tenwick said.

Key highlights and company milestones for the 3rd quarter include:

Strong sales demand for Online during the summer quarter has resulted in Q3 record revenue's exceeding both Q1 and Q2, demonstrating an acceleration in the transition of recruitment advertising to online

New and renewing Online customers included Mobistar (Belgium), BankInvest (Denmark), Mazda (Germany), KPN (Netherlands) and Proctor & Gamble (Germany)

In the quarter StepStone Solutions secured 90 new customers and attracted record levels of new monthly subscriptions, with the average value per customer increasing substantially. Major projects included Umicore, the Belgian materials technology group which will implement i-GRasp across its European and Asia-Pacific operations, and a significant Scotland-wide i-GRasp contract for 32 councils through an agreement with Scottish Portal. Other new customers included Nestle Nutrition (Germany), Bentley (UK), Vanco (UK), TeliaSonera (Sweden), Lindorff (Norway) and BMW (Germany)

Recruiter Norge AS, acquired in Q3, closed four significant sales during the quarter: Conrad Svensen Senter, Hgskolen i Buskerud, NILF and Datametrix

ETWeb maintained its growth with customer wins and renewals including Aviva (UK), MOL (Hungary), Intertek (China), Ingostragkh (Russia), Dolphin Energy (Dubai) and OMV (Austria)

StepStone's 4th Annual i-GRasp Forum at Wembley Stadium in London attracted over 160 delegates from 66 organisations. Customers who spoke at the event included British Airways, PwC, Royal Mail and Virgin Atlantic.

We are very pleased with the current momentum, and strong execution that both business lines demonstrated in the quarter. We anticipate this will continue into Q4. Tenwick concluded.

StepStone will announce its results for Q3 on 25 October.