Randstad N.V. (RANJF) Q4 2022 Earnings Call Transcript

Randstad N.V. (OTCPK:RANJF) This autumn 2022 Earnings Convention Name February 14, 2023 3:00 AM ET

Firm Contributors

Sander van ‘t Noordende – CEO

Henry Schirmer – CFO

Convention Name Contributors

Suhasini Varanasi – Goldman Sachs

Sylvia Barker – JPMorgan

Marc Zwartsenburg – ING

Anvesh Agrawal – Morgan Stanley

Andy Grobler – BNP Paribas

Paul Sullivan – Barclays

Konrad Zomer – ABN AMRO-ODDO

Hans Pluijgers – Kepler Cheuvreux


Good day, and welcome to Randstad Fourth Quarter and Annual Outcomes 2022. Please notice this name is being recorded.

I’ll now hand over to Sander van ‘t Noordende, CEO. Please go forward.

Sander van ‘t Noordende

Thanks very a lot, Marian, for that introduction. Good morning, everyone and Glad Valentine’s Day. I am right here with Henry, and Bisera, and Akshay from Investor Relations. And I am happy to share our This autumn and full 12 months outcomes with you.

General, Randstad delivered an impressive efficiency in 2022. Our enterprise is extra diversified right this moment than ever and we’re actually seeing the advantages of a better proportion of Professionals, perm, and RPO in our combine in comparison with historic ranges. Our efficiency within the full 12 months was underpinned by stable ranges of demand from purchasers and expertise shortage. The enhancements we delivered in profitability and margin are proof of our agency concentrate on price administration, value-based pricing, and enterprise combine.

The financial atmosphere softened throughout our markets within the fourth quarter which translated into decrease hiring actions from our purchasers. Having stated that, we’ve delivered a great set of ends in the fourth quarter with stable development and robust profitability. Income development for the quarter was 2.4%. Our Inhouse enterprise grew by 6%, Professionals by 7%, and RPO by 17%. Gross revenue grew by 3% and we delivered a robust gross margin of 20.8% within the quarter. This was pushed by pricing self-discipline in addition to the altering

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