Randstad NV (WBO:RAND)

€ 39.81 0.34 (0.86%) Market Cap: 7.01 Bil Enterprise Value: 8.39 Bil PE Ratio: 16.15 PB Ratio: 1.66 GF Score: 69/100

Q3 2019 Randstad NV Earnings Call Transcript

Oct 22, 2019 / 07:00AM GMT

Release Date Price: €47.66 (+0.04%)

Transcript

Operator

Hello, and welcome to the Randstad Third Quarter Results 2019. My name is Jazz, and I'll be your coordinator for today's event. (Operator Instructions)

I will now hand you over to your host, Jacques van den Broek, to begin today's call. Thank you.

Jacques van den Broek

Randstad N.V. - CEO & Chairman of the Executive Board

Yes. Thank you, Jazz. Good morning, everybody. Jacques van den Broek here in Diemen with Henry and Steven and David, taking you through our third quarter of 2019. So let's go immediately to Slide 6.

We're -- yes, it's uncertain macroeconomic circumstances. You all know that. But still, we're satisfied with our good set of numbers, very much in line with what we shared with you on how we're managing this business. Our organic growth, slightly eased in Q2. Again, main culprit here, if you might call it that, is the industrial-related, very much the automotive. If we look at our 2.5% decline in Q3, we can attribute 55.0% to automotive, predominantly in the German market, but certainly also in the Dutch and Belgian one.

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