Press releases

Q2 2016: solid incremental conversion

26 July 2016

Highlights Q2 2016:

  • Revenue of € 5,108 million; organic growth +3.1%; gross profit up 2.4%
  • Topline grew 4% in Europe, 0% in North America and 4% in the Rest of the world
  • Gross margin up 20bp YoY to 18.9%; perm fees up 11%
  • Underlying EBITA of € 240 million (+10%); EBITA margin up 20bp to 4.7%; L4Q ICR of 53%
  • Adjusted net income up 12% to € 170.9 million; ROIC at 17.9% (vs. 15.1% last year)
  • DSO improved to 50.7 (from 51.2 in Q2 2015); leverage ratio of 0.7
  • L4Q EBITA margin of 4.6% (+30bp YoY)
  • Acquisitions of Obiettivo Lavoro (Italy), Careo (Japan), and twago (digital) announced
  • M&A announced in H1 will add ~€ 1.5 billion in revenues (incl. Proffice and Ausy) on an annualized basis

"In Q2, growth continued in Europe, while revenue in the US stabilized; these trends appear to be continuing into July," says Randstad CEO Jacques van den Broek. "M&A activity has been high: with the acquisition of Obiettivo Lavoro, we have achieved a No. 2 position in the Italian market, while by acquiring the Careo Group, we have doubled our presence in Professionals in Tokyo. The acquisition of twago, a digital platform, enables us to take a big step in the freelance market."

For the full press release, click here

For more information, please contact: Machteld Merens/Arun Rambocus, telephone: +31 (0)20 569 59 40

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