HeadHunter Group PLC (NASDAQ:HHR) Q1 2020 Earnings Conference Call - Final Transcript

Jun 01, 2020 • 09:00 am ET


HeadHunter Group PLC (NASDAQ:HHR) Q1 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to today's HeadHunter Group First Quarter 2020 Financial Results Conference Call. [Operator Instructions] I must advise you that this conference is being recorded today on the 1st of June 2020.

I would now like to hand the conference over to your first speaker today, Roman Safiyulin. Please go ahead, sir.

Roman Safiyulin

Hello, everyone, and welcome to HeadHunter Group first quarter 2020 earnings call. On the call today we have Mikhail Zhukov, our Chief Executive Officer; Grigorii Moiseev, our Chief Financial Officer; and Dmitry Sergienkov, our Chief Strategy Officer. A press release containing our first quarter 2020 result was issued earlier today and a copy may be obtained through our website at investor.hh.ru.

Now, I will quickly walk you through the Safe Harbor statement. Today's discussion will contain forward-looking statements. Actual results may differ materially from the results predicted or implied by such statements. And forward-looking statements made today speak only to our expectations as of today.

We undertake no obligation to publicly update or revise these statements. For a discussion of some of the risk factors that could cause actual results to differ, please see the Risk Factors section in our 20-F report that was filed with the U.S. Securities and Exchange Commission on March 16th, 2020.

During this call, we'll be referring to some non-IFRS financial measures. These non-IFRS financial measures are not prepared in accordance with IFRS. A reconciliation of the non-IFRS financial measures to the most directly comparable IFRS measures is provided in the earnings release we issued today and the slide presentation, each of which is available on our website at investor.hh.ru.

Now, I'll turn the call over to Mikhail. Please go ahead.

Mikhail Zhukov

Thank you, Roman, and good afternoon, everyone. Welcome to today's call. Entering the 2020, no one could imagine the scale of global disruption brought by the COVID-19 pandemic. And right now, it is obvious that all areas of our life have faced significant challenges. But, we feel increasingly confident that we can get successfully through this.

Recruitment activity reacts extremely fast to any change in business and social environment. It can serve as a barometer to the economic sentiment. Companies usually adjust their recruitment plans before GDP numbers or any other economic statistics testify global trend inversion. We saw how quickly businesses reacted early in March when COVID situation was not yet fully evident in Russia, and in the similar way, we saw how they gained bigger confidence despite still being under severe economic restrictions.

Over the last few months, we have taken certain unpopular actions to ensure company's financial stability, safety of our employees, our clients and our candidates. I am very proud of how HeadHunter adopted all functions and operations to the evolving situation in a matter of days.

Despite staying prudent, we're equally cognizant of our natural advantages in this new social resistant world as the most effective online recruitment solution. We ought to use it to solidify our leadership and speed