Recruit Holdings maintains guidance despite revenue decline

Recruit Holdings reaffirmed its full-year guidance of 3,520 billion yen revenue and 697 billion yen EBITDA despite Q1 consolidated revenue falling 2.5% to 878.8 billion yen.

EBITDA grew 4.5% to 187.1 billion yen with margins improving to 21.3%. US HR Technology revenue rose 0.9% while Japan declined 4.4%. The Staffing segment fell 3.4% but Marketing Matching Technologies grew 7.1%.

The company completed a 450 billion yen share buyback program, reducing net cash to 563.5 billion yen.