In 2025, Grupa Pracuj continued its growth trajectory, generating consolidated revenues of PLN 811.2 million, up 5.4% year-on-year. This performance was driven by both a higher number of recruitment projects and an increase in the average price of services offered through its key platforms, Pracuj.pl and Robota.ua. At the same time, the Group continued to expand its HR Software segment, based on a SaaS model characterized by high customer retention and predictable revenue streams. The number of clients using solutions such as softgarden and eRecruiter continued to rise. An additional growth driver was the acquisition of Kadromierz in March 2025, aligned with the strategy of expanding the HR Software and post-hire offering.
Adjusted EBITDA for the Group reached PLN 366.6 million, marking a 5.7% year-on-year increase, while consolidated net profit rose to PLN 242.9 million, up 16.3% compared to 2024. The strong growth in net profit was supported, among other factors, by increasing contributions from Ukrainian recruitment platforms, where Grupa Pracuj expanded its ownership stakes.
The Management Board also recommended a dividend payout from the 2025 profit totaling PLN 206.7 million, equivalent to PLN 3.00 per share—an increase of 42.7% year-on-year. This represents a record proposal, reflecting the company’s strong liquidity position.
“In 2025, market conditions were demanding and varied across our regions. In Poland, despite economic growth, recruitment activity remained moderate, yet we successfully expanded our market reach. This is evidenced, among other factors, by the record number of nearly 62,000 active clients on Pracuj.pl, achieved through the development of eCommerce tools. We continue to strengthen our position as the partner of first choice for companies seeking employees, regardless of their size or industry. We also maintain our leadership position in Ukraine, where we increased our capital involvement in two leading platforms—Robota.ua and Work.ua—translating into a higher share in the profits of a dynamically growing market. We are already seeing strong results, and the leading market positions of these platforms mean that most companies operating in the labor market either use or will use their solutions, both now and in the context of future economic recovery,” said Przemysław Gacek, CEO of Grupa Pracuj.
“The HR Software segment, which is more resilient to economic cycles, accounted for 27% of the Group’s revenues. eRecruiter strengthened its position as the leader in Poland’s recruitment management systems market, while softgarden continued to grow in the DACH region despite the challenges faced by the German economy. In 2025, we also invested in Kadromierz, which is in a dynamic growth phase. This is an important step toward expanding our presence in the post-hire segment, supporting companies after the recruitment process,” Gacek added.
“The past year also saw rapid development in artificial intelligence. While its impact on the industry remained limited in 2025, we are convinced that AI-based tools will increasingly shape the labor market. At Grupa Pracuj, we are consistently developing AI applications in our recruitment platforms and software solutions, focusing on enhancing user productivity and creating additional monetization opportunities. At the same time, we use AI internally to improve operational efficiency,” the CEO noted.
Strong and stable growth in Poland
Geographically, the Polish segment remains the largest contributor to the Group’s revenues and operating profit. It includes Pracuj.pl, the leading Polish job portal; eRecruiter, the most widely used SaaS-based recruitment management system; and Kadromierz, a modern workforce planning and time management tool.
In 2025, revenues from the Polish market reached PLN 570.9 million, up 5.6% year-on-year, while operating profit for this segment increased by 2.9% to PLN 270.1 million.
Over half a million recruitment projects on Pracuj.pl
The majority of the Group’s Polish revenues are generated by Pracuj.pl. In 2025, the number of recruitment projects published on the platform increased by 1.4% year-on-year to 500,800, while the average price per project rose by 1.7%. The number of active employers reached a record 61,800, up 5% year-on-year, confirming growing market penetration.
“The growth achieved by Pracuj.pl in a period of limited recruitment activity confirms the resilience of our business model and the strengthening of our market position. This was possible thanks to increasing the number of job postings in blue- and pink-collar segments, as well as effectively reaching a growing customer base using eCommerce tools. At the same time, we are developing AI-based solutions that help employers conduct recruitment processes more efficiently, supporting growth in our core white-collar segment. Greater diversification of job postings and the introduction of advanced pricing tools—taking into account factors such as location and job level—allow us to better tailor our offering to market needs and increase its value,” said Rafał Nachyna, Management Board Member and COO.
eRecruiter strengthens leadership in Poland
eRecruiter further reinforced its position as the leading recruitment management system in Poland. By the end of 2025, it had 2,332 active clients across dozens of industries, representing an 11.4% year-on-year increase. Despite weaker recruitment activity in the market, the number of subscribers continued to grow steadily, partly due to the successful migration of clients from the HRlink system, following the decision to maintain a single ATS platform in Poland.
Monthly recurring revenue (MRR) for eRecruiter increased by 9% year-on-year, reaching PLN 4.35 million in December 2025. The slightly slower MRR growth compared to customer growth was due to expanding into smaller companies using lower-priced subscription plans. At the same time, eRecruiter has strong upselling potential, with opportunities to expand the range of modules and functionalities used by clients over time.
“In 2025, we continued to develop eRecruiter’s functionality. We introduced an AI Assistant to support users in analyzing applications, generating summaries, and automating recruitment communication. We also expanded the HR Marketplace—an ecosystem of tools supporting the entire employee lifecycle—allowing organizations to flexibly select solutions tailored to their needs. Additionally, we introduced new automation features, including vacancy management, automatic CV tagging, recruitment question generation, and advanced reporting. These solutions improve efficiency, enhance candidate experience, and support GDPR compliance,” Nachyna added.
Stable performance of softgarden in a challenging environment
In the DACH region, revenues (reported as the Germany segment) reached PLN 176.5 million in 2025, remaining broadly stable year-on-year (-0.4%). However, operating profit increased by 9.9% to PLN 23.7 million.
softgarden provides a SaaS-based recruitment management system and a multiposting service that enables automated job postings across multiple platforms—particularly important in the fragmented German market.
The macroeconomic environment in Germany remained challenging, with low GDP growth following a technical recession, leading companies to adopt a more cautious approach to recruitment. This resulted in lower revenues from multiposting services.
At the same time, revenues from SaaS services continued to grow. By the end of 2025, 1,889 employers were actively using softgarden’s solutions, up 4% year-on-year. Monthly recurring revenue increased at a similar pace, reaching PLN 8.03 million in December 2025 after currency conversion.
“In the past year, softgarden expanded its product offering with new solutions such as intelligent candidate matching and onboarding modules. It also launched a new customer acquisition channel targeting SMEs, based on simple pricing packages, free trials, and a highly automated purchasing process, including AI chatbot support that handled over 55% of inquiries,” Nachyna said.
The growing share of SaaS-based services in softgarden’s revenue mix—reaching 71% in 2025—had a positive impact on profitability.
Ukraine drives growth through effective monetization
Revenues from the Ukrainian market reached PLN 63.9 million in 2025, up 21.8% year-on-year, while operating profit increased by 19% to PLN 15.4 million, driven mainly by effective pricing strategies.
Robota.ua maintained its leadership position in terms of job postings and active CV database size. The total number of recruitment projects exceeded 1.4 million, up 5% year-on-year. Despite a decline in the number of paid projects (-3.9%), strong price increases drove revenue growth, with average prices rising by over 56% in local currency.
At the same time, the platform continued to support the labor market through a freemium model, publishing 850,000 free job postings in 2025, up 11.8% year-on-year.
“The strong double-digit growth in average project prices, combined with higher volumes, confirms the significant potential of our Ukrainian operations. As prices increased, so did the value delivered to employers. In a market facing labor shortages, Robota.ua increased the number of applications per job posting by 16% year-on-year,” Nachyna noted.
Strong profitability and record dividend proposal
Total Group revenues reached PLN 811.2 million in 2025 (+5.4% y/y), while adjusted EBITDA rose to PLN 366.6 million (+5.7% y/y), maintaining a strong margin of 45.2%.
Net profit grew even faster, increasing by 16.3% year-on-year to PLN 242.9 million.
“The improvement in net profitability was significantly supported by more than doubling the contribution from equity-accounted entities, which reached PLN 30.5 million. This includes our share of profits from Work.ua, a co-leader of the Ukrainian recruitment market alongside Robota.ua. Following an indirect increase in our stake to 52.7%, we now benefit from the majority of its profits, which have grown rapidly over the past two years. Lower financial costs, resulting from systematic debt reduction, also contributed to higher profitability,” said Gracjan Fiedorowicz, CFO of Grupa Pracuj.
In the fourth quarter alone, revenues reached PLN 196.8 million (+5.0% y/y), adjusted EBITDA totaled PLN 80.5 million (+5.9% y/y), and net profit rose to PLN 55.4 million (+21.7% y/y).
The Management Board proposed setting the dividend record date for June 24, 2026, with payment scheduled for July 2, 2026.
“Given our strong liquidity position and limited opportunities for large acquisitions in the near term, we have decided to allocate a larger portion of profits to shareholders. We continue to approach acquisitions selectively, based on strict investment criteria and strategic fit with our ecosystem,” Fiedorowicz concluded.
