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

Q1 2024 Randstad NV Earnings Call Transcript

Apr 23, 2024 / 07:00AM GMT

Release Date Price: €46.91

Transcript

Operator

Good day, and welcome to Randstad's First Quarter Results 2024 Conference Call. (Operator Instructions) At this time, I'd like to hand the call over to Mr. Sander van 't Noordende, CEO. Please go ahead, sir.

Alexander M. van;t Noordende

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

' -

Thank you, Alicia, for the introduction, and good morning, everybody. I'm here with Jorge (inaudible) from Investor Relations.

During the first quarter, we continued to adapt, as market conditions remained challenging. While we performed well in Southern Europe, LatAm and Asia Pacific, we encountered softer-than-expected conditions in North America and in Northern Europe. Against this backdrop, we delivered revenues of EUR 5.9 billion, a decline of 7.8% year-on-year. Our gross margin came in at 20.2%, modestly down compared to last year, reflecting our service mix and a slightly lower margin in our staffing business, which was driven by higher sickness and other seasonal effects.

As you would expect, we sustained our focus on adaptability

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