highlights
- Q2 2019 organic growth: -1.7%
- Q2 2019 underlying EBITA: 277m
- Q2 2019 EBITA margin: 4.7%
- topline growth in Europe impacted by uncertain macroeconomy; US trends fairly stable, strong growth in Rest of the world
- gross margin 20.0%, up 20bp YoY; continued management focus on pricing, supported by digital tools
- Q2 2019 EBITA margin down 10bp YoY to 4.7%; selective investments in growth areas
- ongoing market share gains in several countries; bolt-on M&A strengthens strategic ambition in Professionals
- successful worldwide cloud migration and front-office implementation in Germany and Japan
- June organic sales growth in line with Q2; volumes in early July indicate a continuation of the trend
We delivered solid Q2 2019 results, as robust gross margins and balanced cost management offset ongoing challenging macroeconomic conditions in Europe." says CEO Jacques van den Broek. "Our organic revenue growth turned slightly negative, reflecting slowing market growth in particularly Germany, the Netherlands and Belgium, mainly related to weakness in automotive-related industries. We continued to gain market share in several countries, while maintaining strong pricing discipline. Our sound regional diversification continued to pay off, as Asia Pacific and the Latin America region delivered significant contributions to our growth and profitability. Furthermore, our digital strategy progressed well, reflected by a successful worldwide cloud migration and implementation of a new front-office system in Germany and Japan. These new systems enable our sales and recruiting colleagues to focus even more on the human touch."
"On a different note there was good news not only for Randstad but for the whole private employment sector. It is great to see that we are widely recognized to stimulate an inclusive and well regulated labor market by the centenary declaration of the International Labour Organisation (ILO) toward a human centered future of work. This is fully aligned with our values, principles, and in particular our Human Forward promise."
for more information
David Tailleur / Ingrid Pouw
+31 (0)20 569 5940
about randstad
Randstad is a global talent leader with the vision to be the world’s most equitable and specialized talent company. As a partner for talent and through our four specializations - Operational, Professional, Digital and Enterprise - we provide clients with the high-quality, diverse and agile workforces that they need to succeed in a talent scarce world. We help people secure meaningful roles, develop relevant skills and find purpose and belonging in their workplace. Through the value we create, we are committed to a better and more sustainable future for all. Headquartered in the Netherlands, Randstad operates in 39 markets and has approximately 40,000 employees. In 2023, we supported 2 million talent to find work and generated a revenue of €25.4 billion. Randstad N.V. is listed on the Euronext Amsterdam. For more information, see www.randstad.com.
for more information
Elise Martin-Davies
+31 (0)6 1322 5136
press@randstad.com