Full Year 2010 Revenue up 14% and EBITA up 61%
Key points Q4 2010
- Revenue up 22% to € 3,891 million; organic growth1 per working day 17%
- Underlying2 EBITA3 reached € 161.5 million (+52%), with the EBITA margin4 reaching 4.2% (vs. 3.3% in Q4 2009)
- Adjusted net income5 attributable to holders of ordinary shares € 109.5 million; diluted EPS6 € 0.64 (+36%)
- Leverage ratio (net debt/EBITDA) improved to 1.5
Key points full year 2010
- Markets recovered with strengthening growth throughout the year in almost all markets
- Revenue of € 14.2 billion compared to € 12.4 billion in 2009; organic growth per working day 12%
- Clear improvement in EBITA margin from 2.5% to 3.6%
- Adjusted net income attributable to holders of ordinary shares € 336 million (+62%); diluted EPS € 1.96 (+62%)
- Strong footprint in Japan established by the acquisition of FujiStaff
- Proposal to pay dividend of € 1.18 per ordinary share
"Growth has accelerated throughout the year", says Ben Noteboom, CEO of Randstad. "Not only did we see our inhouse and staffing services perform very strongly, in many markets the professionals segment has started to improve as well. We have gained market share through the year in many important regions due to the continuing efforts of our people. I would like to thank them for their contribution in the special year of Randstad's 50th anniversary. Market prospects look bright, we see good growth opportunities. At the same time, we will maintain our focus on efficiency. It is very satisfying to be able to propose to pay our shareholders dividend again. We are looking forward to a great year in the world of work, delivering value to our clients, candidates, employees and other stakeholders."