highlights
- Q1 2022 organic growth: 15.2%
- Q1 2022 underlying EBITA: € 286m
- Q1 2022 EBITA margin: 4.3%
- global market leadership expansion through scale and breadth of services, driving strong revenue growth across all geographies.
- gross margin of 20.5%, up 130 bp YoY; gross profit mix reflecting a larger portion of high margin fee activities and a positive pricing environment.
- EBITA margin up 60bp YoY; strong adaptability, with ICR of 30%.
- record high perm and RPO activity levels; perm org. revenue +63% YoY, RPO org. revenue +125% YoY.
- sound balance sheet; DSO of 51.8 and ROIC of 21.6%.
- volumes in early April indicate a positive continuation of current trend; macro-economic uncertainties remain.
Sander van ‘t Noordende, CEO of Randstad, said: “We have had a strong start to the year, with revenues up 15% and gross profit up 22%, underpinned by our diverse portfolio, scale and market leading insights. This market-leading growth was broad-based across geographies and segments, while our gross margin benefitted from both value based pricing and mix. We saw record high perm and RPO activity levels, while staffing revenue continued its strong momentum increasing by 14% against the same period last year.
The world of work is increasingly talent-led which means it is getting harder for customers to find the people they need. As a strategic talent partner, we offer clients access to a very diverse pool of talent while our digital investments and data give us capabilities to anticipate our customers’ needs, matching jobs with talent across geographies, services and sectors. I am excited to have joined a company with such a strong culture, where people are placed at the heart of everything we do.
The performance in the quarter gives us a strong platform for the remainder of the year, with volumes in early April indicating a positive continuation of the trends we have seen in the first quarter. We are confident that our broad range of services, global footprint and continued investment in our digital capabilities, positions us to benefit from the structural drivers underpinning the labor market. While there remains a high degree of macroeconomic uncertainty, our operational flexibility gives us the ability to respond quickly and effectively to changes in market conditions.”
Attachments
first-quarter results 2022- final version - 26th April 2022.pdf
for more information
Bisera Grubesic - Director Investor Relations
bisera.grubesic@randstad.com or +31 6 2088 2592
Akshay Lachmandas - Investor Relations Officer
akshay.lachmandas@randstad.com or +31 6 2692 8529
Elise Martin Davies - Global Media Relations Lead
elise.martin-davies@randstad.com or +31 6 1322 5136
about randstad
Randstad is a global talent leader with the vision to be the world’s most equitable and specialized talent company. As a partner for talent and through our four specializations - Operational, Professional, Digital and Enterprise - we provide clients with the high-quality, diverse and agile workforces that they need to succeed in a talent scarce world. We help people secure meaningful roles, develop relevant skills and find purpose and belonging in their workplace. Through the value we create, we are committed to a better and more sustainable future for all. Headquartered in the Netherlands, Randstad operates in 39 markets and has approximately 40,000 employees. In 2023, we supported 2 million talent to find work and generated a revenue of €25.4 billion. Randstad N.V. is listed on the Euronext Amsterdam. For more information, see www.randstad.com.
for more information
Elise Martin-Davies
+31 (0)6 1322 5136
press@randstad.com