Below are the highlights from the Q2 2023 results press release:
- Q2 2023 organic growth -5.1%
- Q2 2023 underlying EBITA € 271m
- Q2 2023 EBITA margin 4.2%
- gross profit -7% YoY; perm -16% & RPO -24% YoY, combined c. 18% of gross profit.
- robust gross margin of 20.7%, -50bp YoY, reflecting mix & pricing.
- solid EBITA margin, strong adaptability.
- rev. growth in asia pacific and latam, mixed trends in europe, decline in north america.
- announced acquisition of Grupo CTC, a leading multi-services outsourcing company in Spain.
- in early July, trends broadly in line with Q2 2023.
Sander van ‘t Noordende, CEO of Randstad, commented: “We delivered a solid set of results in the second quarter amid challenging conditions across our markets. We have seen performance levels below the record results achieved in the same period last year. I am pleased with how our teams have responded to the current operating environment. We continue to benefit from our strong market position, our deep customer relationships and our commitment to our talent. These factors, along with our disciplined management, have contributed to an underlying EBITA of € 271m, resilient EBITA margin performance of 4.2% and strong free cash flow. Our robust balance sheet enables us to continue our strategy of disciplined investments to strengthen our offer and we were delighted to announce the acquisition of Grupo CTC earlier this month. We are excited by the opportunities in Spain and Portugal and I would like to take this opportunity to welcome our new colleagues to Randstad.
The market trends we experienced in the second quarter have continued in early July, with talent scarcity and wage inflation persisting. We remain confident in our ability to adapt our operations based on our field steering model, to provide the best possible service to our customers and talent, and to capture the growth opportunities available to us. Finally, we are looking forward to welcoming Dimitra Manis to our Supervisory Board, pending shareholder approval.”
for more information
Bisera Grubesic - Director Investor Relations
bisera.grubesic@randstad.com or +31 6 2088 2592
Akshay Lachmandas - Investor Relations Officer
akshay.lachmandas@randstad.com or +31 6 2692 8529
Randstad press office
press@randstad.com or +31 6 1605 9460