When presenting the results, Randstad called the market conditions (still) challenging. CEO Sander van ‘t Noordende indicates that the results are particularly disappointing in North America and Northern Europe, including the Netherlands.
Global results
Randstad’s turnover (worldwide) fell by 7.8% in the first quarter compared to the same quarter in 2023. Turnover amounted to €5,938 million. EBITDA also fell from €266 million to €177 million, a decrease of 33%.
Declining turnover Randstad Netherlands
Turnover is also still declining in the Netherlands. For example, the temporary employment group reports a turnover of €751 million for the first quarter of 2024, compared to a turnover of €817 million a year ago. A decrease of 8%.
EBITDA is also declining
EBITDA amounted to €36 million in Q1 2024, compared to €52 in Q1 last year. This is a decrease of 7%. This decline is slightly smaller than in the fourth quarter of 2023, when it was -8%. This brings the EBITDA margin for Q1 to 4.8%. That is higher than the EBITDA margin achieved worldwide: 3%.
Randstad indicates that in the Netherlands, the temporary employment volume (operational talent solutions) in particular is declining. In Q1 by 7%. Secondment (professional talent solutions) recorded a small increase of 1%.
Tags: Results Randstad Netherlands pressure
