Randstad NV (“Randstad”) has experienced a faster than expected recovery of its revenue trend in Q4 2020 so far. Organic revenue growth improved to -4% YoY for October and November 2020 combined, versus -13% YoY reported for Q3 2020. Randstad now expects to deliver a recovery ratio at the upper end of our previous 40%-50% guidance for Q4 2020. We continue to see good momentum for accelerating investments in growth and digitalization of our company, whilst being disciplined on agile cost management. At the same time, visibility remains limited with ongoing macroeconomic uncertainty due to the COVID-19 pandemic.
Jacques van den Broek, CEO of Randstad: “This strong improvement in our topline trend is driven by our global market leadership strengthened by a resilient and diversified product portfolio. Our inhouse concept continues to show a strong performance, while our #newways program fueled competitive growth through a significant increase in our sales activities. In particular, we have seen an increase in our market share in the US and France. Despite partially re-installed lockdowns in some of our main markets, we have seen ongoing demand for essential services such as healthcare, logistics, food retail and e-commerce.”
Randstad will publish its fourth quarter and annual results 2020 on Tuesday, 9 February 2021.
for more information
David Tailleur - Director Investor Relations
david.tailleur@randstad.com or +31 6 1246 2133
Steven Vriesendorp - Investor Relations Officer
steven.vriesendorp@randstad.com or +31 6 2692 8529
Elise Martin Davies - Global Media Relations Lead
press@randstad.com or +31 20 569 1732
disclaimer
Certain statements in this document concern prognoses about the future financial condition, risks, investment plans, and the results of operations of Randstad N.V. and its operating companies, as well as certain plans and objectives. Obviously, such prognoses involve risks and a degree of uncertainty, since they concern future events and depend on circumstances that will apply then. Many factors may contribute to the actual results and developments differing from the prognoses made in this document. These factors include, but are not limited to, general economic conditions, shortages on the job market, changes in the demand for personnel (including flexible personnel), achievement of cost savings, changes in the business mix, changes in legislation (particularly in relation to employment, staffing and tax laws), the role of industry regulators, future currency and interest fluctuations, availability of credit on financially acceptable terms, the successful completion of company acquisitions and their subsequent integration, successful disposals of companies, the rate of technological developments, the impact of pandemics and our ability to identify other relevant risks and mitigate their impact. These prognoses therefore apply only on the date on which this document was compiled. The actual results as presented in this press release are unaudited.
about randstad
Randstad is the global leader in the HR services industry. We support people and organizations in realizing their true potential by combining the power of today’s technology with our passion for people. We call it Human Forward. In 2019, we helped more than two million candidates find a meaningful job with our 280,000 clients. Furthermore, we trained more than 350,000 people. Randstad is active in 38 markets around the world and has top 3 positions in almost half of these. In 2019, Randstad had on average 38,280 corporate employees and generated revenue of € 23.7 billion. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad N.V. is listed on the NYSE Euronext (symbol: RAND.AS). For more information, see www.randstad.com.