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Randstad Holding nv announces Q3 results

Randstad Holding nv announces Q3 results

Continued strong growth revenue up 19% in Q3 2010

Key points third quarter 2010

- Revenue up 19% to 3,781 million

- Organic growth1 per working day amounted to 16% stable growth rate during the quarter

- Gross profit2 of 698 million (17%) with the gross margin reaching 18.5% (vs. 18.8% in Q3 2009)

- Operating expenses of 545 million organically up 3% QoQ and 7% YoY

- EBITA3 amounted to 153 million (64%) the EBITA margin reached 4.0% (vs. 2.9% in Q3 2009)

- Adjusted net income4 attributable to holders of ordinary shares 102 million diluted EPS5 0.59 (vs. 0.42)

- Tender offer for Japanese FujiStaff successfully completed in October

This month, we celebrated the 50th birthday of Randstad with all our employees around the globe, and the vitality and enthusiasm of our people was something Im very proud of, says Ben Noteboom, CEO Randstad Holding. And when we look at our performance in the market, we have achieved stable double digit growth through the quarter. The mix is shifting somewhat, in line with classical patterns. After the quick pickup in industrial demand earlier this year, we now also see improvements in clerical and professional segments in many regions. In addition, the number of permanent placements is increasing. Efficiency is also still rising. Therefore, we look to the coming quarters with renewed energy and confidence.


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