Q4 2022 organic growth: 2.4%
Q4 2022 underlying EBITA: € 364m
Q4 2022 EBITA margin: 5.2%
gross profit +3% YoY; perm (+1% YoY) and RPO (+17% YoY) combined c. 19% of gross profit.
gross margin of 20.8%, up 40bp YoY; driven by business mix and pricing discipline.
EBITA margin +20bp YoY; opex as % of revenue down by 60bp QoQ to 15.6%.
ROIC of 17.9%, +110bp YoY, a.o. reflecting strong improvement in EBITA.
2022 proposed total return of ~€ 921m of capital to shareholders.
January 2023 revenue modestly down YoY (org).
CEO Sander van ‘t Noordende commented, "Randstad delivered an outstanding performance in 2022, driven by Inhouse, Professionals, perm and RPO. In the fourth quarter, we delivered solid growth with strong profitability.
Robust levels of demand from clients and persistent levels of talent scarcity underpinned our full year performance and the improvements we delivered in profitability and margin show the benefits of our firm focus on cost management, value-based pricing and business mix. Client activity moderated in the fourth quarter, and this trend has continued into 2023. However, our deep understanding of talent and clients, together with our experienced leadership team positions us well to navigate the macroeconomic environment.
In line with our existing capital allocation policy, we propose a return of around € 921m of capital to our shareholders over FY 2022, of which regular ordinary cash dividend of € 2.85 per ordinary share, and a share buy back program of around € 400m over a period of 17 months, starting end of April 2023.
I would like to thank our talent and clients across the world as well as all Randstad people for their continued dedication to making us a partner of choice."
Bisera Grubesic - Director Investor Relations
bisera.grubesic@randstad.com or +31 6 2088 2592
Akshay Lachmandas - Investor Relations Officer
akshay.lachmandas@randstad.com or +31 6 2692 8529
Elise Martin Davies - Global Media Relations Lead
elise.martin-davies@randstad.com or +31 6 1322 5136
Randstad is the world’s largest talent company and a partner of choice to clients. We are committed to providing equitable opportunities to people from all backgrounds and help them remain relevant in the rapidly changing world of work. We have a deep understanding of the labor market and help our clients to create the high-quality, diverse and agile workforces they need to succeed. Our 46,000 employees around the world make a positive impact on society by helping people to realize their true potential throughout their working life.
Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. In 2022, in our 39 markets, we helped more than 2 million people find a job that feels good and advised over 230,000 clients on their talent needs. We generated revenue of €27.6 billion. Randstad N.V. is listed on the Euronext Amsterdam. For more information, see www.randstad.com
