Q3 2023: strong adaptability in a challenging environment.

highlights

• Q3 2023 organic growth -7.3% 
• Q3 2023 underlying EBITA € 273m
• Q3 2023 EBITA margin 4.4%
• gross profit -10% YoY; perm -22% & RPO -34% YoY, combined c. 16% of gross profit.
• robust gross margin of 20.6%, -40bp YoY, reflecting mix & pricing; temp +10bp YoY.
• solid EBITA margin, strong adaptability. 
• Europe, Latam and APAC more resilient regions, tough market conditions in North America.
• launch of Randstad Digital, global digital enablement partner.
• in early October, trends broadly in line with Q3 2023.

Sander van ‘t Noordende, CEO of Randstad, commented: “We continued to perform resiliently in the third quarter amid the ongoing global macroeconomic challenges. Europe, Latam and Asia-Pacific were our better performing regions, while tough domestic market conditions impacted our performance in North America. I am particularly pleased with how our teams have adapted to the changing conditions in their markets and have been able to maintain margins and robust cashflow generation. This has contributed to solid profitability and margin performance, while our balance sheet position remains strong.

We made further strategic progress in the period with the launch of Randstad Digital. This is an important step, which positions Randstad as a digital enablement partner for transforming businesses by providing global talent, capacity, and solutions across specialized platforms. We are excited about the growth opportunities in this area.

Looking ahead, our markets continue to be defined by three prevailing trends; a scarcity of talent, clients seeking greater levels of support and the rapid proliferation of new technologies. We are confident in our ability to capture the growth opportunities in our markets and we are well positioned for growth when market sentiment improves. We will provide a broader update on our strategy at our Capital Markets Day in London on Tuesday 31 October 2023.”