HeadHunter Group PLC (NASDAQ:HHR) Q2 2020 Earnings Conference Call - Final Transcript

Aug 27, 2020 • 09:00 am ET

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HeadHunter Group PLC (NASDAQ:HHR) Q2 2020 Earnings Conference Call - Final Transcript

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Q & A
Executive
Dmitry Sergienkov

campaign and at certainly targeted discounts, we saw significant increase in customer registrations in, for example, July, we saw customer registration up 26% year-on-year. That was a historical record.

You also can see that our content is growing. And especially, during this summer downtime, that's a very nice dynamic to have. So, our feeling that we are performing well in accordance with our kind of market share acquisition strategy, and we are holding all the gaps and trying to widen them. So we don't see any competitors are catching up.

Analyst
Vyacheslav Degtyarev

Okay. Thank you very much.

Operator
Operator

And your next question comes from Stephen Ju from Credit Suisse. Please go ahead.

Analyst
Stephen Ju

Okay. Thank you very much. So I guess I wanted to ask more of a longer-term question, particularly as you're rolling out the usage-based pricing model here. So I think, on your deck, your job applications growth is recovering faster than candidate activity, which suggests that demand for personnel is hopefully outstripping the supply of candidates. So as the economy continues to recover, you have to think that companies will have to be thinking more and more about looking for people who are already working at other companies as opposed to looking at candidates who are unemployed or between jobs, which should drive increased CV Database Access activities. So, where are we in terms of the Key Accounts and SMA's willingness to recruit through the database versus the very traditional method of posting an opening? Thank you.

Executive
Dmitry Sergienkov

Thanks, Stephen. We personally derived somewhat different conclusions of what we see in terms of CVs, inflow and job posting application. I think it's just a matter of, to some extent, of the kind of structural shifts in our database because we are now really seeing lot of blue-collar activity, right, where effectively CV is not the kind of base instrument to apply for a job, right? And we saw a pretty nice rebound in CV Database post-lockdown. And now I think we're just observing general development over summer.

Well, job posting application, again, it's less susceptible to the structural changes, and we really see that the applications are performing pretty well. And that -- in our view, that's just a representation of overall economic state because, obviously, the candidates -- historically, it was clearly a candidate-driven market, right? Post-COVID, the situation changed significantly and now candidates feel less sort of complacent, right? And so we're really observing much higher engagement from the candidates, and that is resulting in just higher application per candidate -- per registered candidate.

Analyst
Stephen Ju

Okay. Thank you.

Operator
Operator

[Operator Instructions] And we've had no further questions come through at this time. And there are still no further questions, so I'll hand the call back to Roman. We've just received one more question. It comes from Roman Cicilo [Phonetic]. Please go ahead.

Analyst
Roman Cicilo

Hi, guys. Can you hear me? Hello. Hi, guys. Can you hear me?

Executive
Dmitry Sergienkov

Yes, Roman.

Executive
Mikhail Zhukov

Yeah.

Analyst
Roman Cicilo

Hi, good afternoon. Thank you for the call. I wanted to ask a follow-up