highlights
- Q1 2023 organic growth -4.2%
- Q1 2023 underlying EBITA € 266m
- Q1 2023 EBITA margin 4.1%
- gross profit -2% YoY; perm -8% & RPO -2% YoY, combined c. 19% of gross profit
- strong gross margin of 21.0%, +50bp YoY, reflecting mix & pricing
- solid EBITA margin, focused cost management
- rev. growth continued in asia pacific and latam, mixed trends in europe, decline in north america
- sound balance sheet; DSO of 53.0; ROIC of 19.7%
- in early April, trends broadly in line with Q1 2023
Sander van ‘t Noordende, CEO of Randstad, commented: “I am pleased with the performance we delivered in the first quarter amid the continued challenging macroeconomic conditions across our markets. We have adapted well to this operating environment, and delivered growth in some markets. The improvement in our gross margin reflects a sustained focus on pricing and the mix of our different services, while our EBITA margin demonstrates strong cost management across our business.
We continue to benefit from our strong market position. We have deep customer relationships and are committed to building the best talent delivery engine in the market, with an excellent team in place to deliver on this. Our strong balance sheet enables us to capture the growth opportunities available to us, while we remain disciplined and able to adapt our operations as needed.
The trends we experienced in the first quarter have continued into early April and while we remain cautious, the prevailing trend of labor market scarcity remains across our markets. Our experienced teams, long track-record of delivery and execution in all environments, together with our strategy to be the partner of choice for talent and clients, gives us confidence as we look ahead.”
for more information
Bisera Grubesic - Director Investor Relations
bisera.grubesic@randstad.com or +31 6 2088 2592
Temur Yusupov - Investor Relations Analyst
temur.yusupov@randstad.com or +31 6 4488 7242
Randstad press office
press@randstad.com or +31 6 1605 9460
about randstad
Randstad is the world’s largest talent company and a partner of choice to clients. We are committed to providing equitable opportunities to people from all backgrounds and help them remain relevant in the rapidly changing world of work. We have a deep understanding of the labor market and help our clients to create the high-quality, diverse and agile workforces they need to succeed. Our 46,000 employees around the world make a positive impact on society by helping people to realize their true potential throughout their working life.
Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. In 2022, in our 39 markets, we helped more than 2 million people find a job that feels good and advised over 230,000 clients on their talent needs. We generated revenue of €27.6 billion. Randstad N.V. is listed on the Euronext Amsterdam. For more information, see www.randstad.com