Q1 2016 net income up 72% YoY for Randstad
Randstad has released its financial results for its first quarter 2016.
The company has reported revenue of €4,702m, up 6.6% from Q4 2015. Gross profit amounted to €865.4m, growing 3.8% organically. Revenue per day grew 6% in Europe, +3% in North America and +5% in Rest of the world.
Underlying EBITA of €168.9m was reported, up 10% organically and year-on-year (YoY).
Randstad reported net income of €102.5m, up 72% YoY from €59.5m in Q1 2015. Adjusted net income is up 35% to €123m YoY.
Randstad CEO, Jacques van den Broek, commented, "Despite global economic uncertainty we again achieved mid-single-digit growth and a >50% incremental conversion rate. Our growth rate and outperformance in France, both in staffing and in permanent placements, and the increasing growth in Germany, are signs of improving conditions in Europe.
"Our M&A activity has led to the consolidation of the Proffice figures in the Nordics, and RiseSmart showed good growth in the US Career Transition market, proving the value of new and disruptive business models driven by technology."