investment case

1. our world - a major growth opportunity.

Randstad is the global HR services leader with 5% share in a very fragmented market. In recent years, the world of work has been experiencing transformative change, driven by technological innovation, demographic shifts, globalization, and climate change.

In addition, the COVID pandemic has accelerated the shift to new ways of working. Randstad believes that we should expect continued change. People and businesses will need to be able to constantly adapt and be flexible. As global leader in the HR services sector, Randstad is well-positioned to help shape this new future of work and to leverage structural trends.

a differentiated strategy.

Randstad is driven to become the world's most valued 'working life partner', supporting as many people as possible in realizing their true potential throughout their working life.

Building on our strong foundation, we aim to create value through our portfolio and further differentiate through tech and touch, with the ultimate goal of touching the work lives of 500 million people by 2030.

3. creating sustainable long-term value for all our stakeholders.

Randstad has leading positions in markets & segments combined with a highly resilient FCF and diversified portfolio.

We strive to deliver market leading growth through continuous and profitable market share gains. Our ambition is to win organically, complemented by opportunities to accelerate our portfolio development through bolt-on acquisitions.

We strive to achieve an EBITA margin between 5% to 6% over time. We have a strong focus on return on invested capital, optimizing our Economic Value Add (EVA) by applying a disciplined investment approach. We strive to maintain a sound financial position by applying a disciplined risk management at all times.

4. focus on shareholder returns

Our financial objectives and capital allocation policy enable us to create sustainable long-term value for all our stakeholders. Simultaneously promoting the interests of all stakeholders is deeply embedded in our values, and we aim to safeguard this while also delivering attractive returns to our shareholders.

Randstad's dividend policy is part of our overall capital allocation policy and consists of two elements:

the ordinary cash dividend. We aim for a flexible payout ratio of 40% to 50% of adjusted net income; we have set a conditional ordinary cash floor dividend of € 1.62 per share.
discretionary additional returns to shareholders in the event of a leverage ratio <1 (excluding lease liabilities).