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Randstad: resultaten Q3 2008

6 november 2008

Randstad heeft vandaag in een persbericht haar cijfers over het derde kwartaal van 2008 bekend gemaakt.

Uitzender Randstad heeft in het derde kwartaal een vijfde minder winst geboekt vergeleken met proforma resultaten van vorig jaar. Dat maakte Randstad donderdag bekend. Voor de vergelijkbaarheid zijn de resultaten van het eerder dit jaar gekochte Vedior en Randstad gecombineerd.

Ebita 4% omlaag
De omzet kwam 3 procent lager uit op 4,47 miljard euro. Het bedrijfsresultaat (ebita) ging met 4 procent omlaag tot 242,4 miljoen euro. In dit cijfer zijn de integratiekosten en eenmalige lasten niet meegerekend.
Randstad heeft last van verdere vertraging in zijn markten, zo licht het bedrijf toe.

Zie voor meer details de tekst van Randstad:

Strong margin and cash flow in difficult market; integration on track

With Vedior consolidated since May 16 2008, the Q3 2008 actual and pro forma results are equal. For Q3 2007 this was not the case, as the companies were not combined. We therefore focus in our analysis of revenue, gross profit, operating expenses and EBITA on the pro forma comparison, adjusted for one-offs, as this reflects underlying performance best. Below EBITA, and in describing the balance sheet and cash flow, we focus on actual results to reflect the impact of the transaction.

Highlights third quarter 2008
– Revenue amounted to € 4.5 billion (pro forma organic growth1 amounted to -2%)
– EBITA margin holding up well at 5.4% (vs. 5.5% pro forma), EBITA2 reached € 242.4 million (-4%)
– Realization synergies on schedule; operating expenses € 670.9 million, 4% lower than in the previous quarter
– Solid cash generation; net debt improved by € 253 million to € 1.9 billion, leverage ratio improved to 1.9
– Adjusted net income3 attributable to ordinary shareholders up 36% to 154.6 million
– Impairment of € 50 million on Dutch payroll services due to slower than expected trend towards outsourcing

“In this challenging quarter we have done really well”, says Ben Noteboom, CEO of Randstad. “Our priorities this quarter were to drive our integration efforts in line with plans, and to manage the change in market conditions at the same time. Managing both is a challenge, and we have shown that we are up to it. The integration projects are on target, we now participate in many more client proposals than before, we maintained our margins, we controlled our costs where needed and we managed to grow our market share in several important markets. I am very proud of the way our people rose to the occasion.”

Bron: Randstad, persbericht, 6 november 2008

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