q1 2017: sound growth continues.

Highlights

• Revenue of € 5,557 million; organic growth 6.4%; gross profit up 6.4%
• Topline grew 8% in Europe, 1% in North America and 9% in Rest of the world
• Perm growth accelerating to 11% (Q4 2016: 4%), driven by all regions; NAM 6% (Q4 2016: -3%)
• Gross margin 20.4%; underlying gross margins stable YoY 
• Underlying EBITA of € 209 million (+16% organically); EBITA margin up 20bp YoY to 3.8%
• Adjusted net income up 21% to € 148 million; FCF of € 120 million (+ 91% YoY)
• Comfortable leverage ratio of 1.1 (vs. 0.3 last year)
• March organic sales growth in line with Q1; Volumes in early April indicate a continuation of the trend
• All acquisitions well on track; Monster transition in full swing

"We started the year on a positive note, achieving sound organic sales growth and an acceleration in perm placement growth," says CEO Jacques van den Broek. "Momentum in Europe remained favorable and our North American business continues to grow. We are satisfied with the progress of our recent acquisitions and remain very excited about their future contribution to the Group. I would like to welcome our new colleagues who joined Randstad through the finalization of the acquisitions of Ausy and BMC. Meanwhile, we are taking the next steps in our digital strategy to enhance the implementation of technology in many of our processes. This enables us to offer clients and candidates tailor-made data-driven insights and to focus on where we are at our best: making the personal connection."

Read the full press release here.

Attachments

Q1 results 2017.pdf