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Randstad Q2 2013: a continuing stable trend

Randstad Q2 2013: a continuing stable trend

Revenue of &euro 4,096 million organic growth per working day -/-3.7% June -/-2.6%

Strong cost control, annualized costs down by &euro 142 million

EBITA margin up from 3.1% to 3.6%

Net debt reduced by &euro 541 million (YoY), leverage ratio from 2.4 to 1.8

Net income up 73% to &euro 63 million

Diluted EPS of &euro 0.51 per ordinary share

Transaction with USG completed, targeting synergies of &euro 15-20 million

Message from the CEO

“Efficiency continued to improve in the second quarter”, says Ben Noteboom, CEO of Randstad. “On operational performance, our people did an excellent job delivering more profit on a somewhat lower revenue base. This is the case for all lines of business. We amply fulfilled our commitment to reduce costs. The integration of the newly acquired USG staffing units is proceeding well. Our Randstad Sourceright offering continues to see strong growth in its spend under management. The month of June was robust, with growth in Spain, Portugal, Brazil and Hong Kong, as well as in Sweden, Norway, and Switzerland. We are confident that we will be able to maintain our discipline and we are ready to grasp commercial opportunities that may present themselves."


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