- Q3 2023 organic growth -7.3%
- Q3 2023 underlying EBITA € 273m
- Q3 2023 EBITA margin 4.4%
- gross profit -10% YoY; perm -22% & RPO -34% YoY, combined c. 16% of gross profit.
- robust gross margin of 20.6%, -40bp YoY, reflecting mix & pricing; temp +10bp YoY.
- solid EBITA margin, strong adaptability.
- Europe, Latam and APAC more resilient regions, tough market conditions in North America.
- launch of Randstad Digital, global digital enablement partner.
- in early October, trends broadly in line with Q3 2023.
Sander van ‘t Noordende, CEO of Randstad, commented: “We continued to perform resiliently in the third quarter amid the ongoing global macroeconomic challenges. Europe, Latam and Asia-Pacific were our better performing regions, while tough domestic market conditions impacted our performance in North America. I am particularly pleased with how our teams have adapted to the changing conditions in their markets and have been able to maintain margins and robust cashflow generation. This has contributed to solid profitability and margin performance, while our balance sheet position remains strong.
We made further strategic progress in the period with the launch of Randstad Digital. This is an important step, which positions Randstad as a digital enablement partner for transforming businesses by providing global talent, capacity, and solutions across specialized platforms. We are excited about the growth opportunities in this area.
Looking ahead, our markets continue to be defined by three prevailing trends; a scarcity of talent, clients seeking greater levels of support and the rapid proliferation of new technologies. We are confident in our ability to capture the growth opportunities in our markets and we are well positioned for growth when market sentiment improves. We will provide a broader update on our strategy at our Capital Markets Day in London on Tuesday 31 October 2023.”
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Bisera Grubesic - Director Investor Relations
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Temur Yusupov - Investor Relations Analyst
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Randstad press office
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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