Solid Q4 results

19 February 2015

- Revenue of € 4,496 million; organic growth +3.4%; January +6.5%
- Topline accelerated in North America and Rest of the world; Europe grew at a lower pace
- Gross profit grew by +5.1% organically in Q4; January +8.8%
- Perm fees up 21% in Q4; +30bp gross margin impact
- Underlying EBITA increased organically by 25% to € 199 million; underlying EBITA margin up from 3.7% to 4.4%
- Net debt of € 422 million; leverage ratio of 0.5
- Net income up 44% from € 54 million to € 78 million
- Incremental conversion ratio of 96% in Q4 (FY: 77%)
- Proposed dividend of € 1.29 (up 36%); record high ;50% payout;

"2014 was a successful year, especially with accelerating growth in North America and the Netherlands, and stable overall trends in Q4. The growth in January 2015 is also encouraging, especially as France seems to improve," says Jacques van den Broek, CEO of Randstad. "Our growth rate in permanent placements remains solid and the attention to commercial activities is paying off. A job well done by our people across the globe. I trust that we will be able to further improve as a company, and we are in excellent shape to face any future challenges."

For the full press release click here.

For more information, please contact: Machteld Merens/Arun Rambocus, telephone: +31 (0)20 569 5623

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