Q2 2023

Press Release

Brunel delivers accelerated EBIT growth and continued revenue growth

Amsterdam, 28 July 2023 - Brunel International N.V. (Brunel; BRNL), a global provider of flexible workforce solutions and expertise, today announced its second quarter 2023 results.

Key points Q2 2023

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Revenue of EUR 328 million, up 13% (20% like-for-like) Gross Profit of EUR 66 million, up 11% (15% like-for-like) EBIT of EUR 11.0 million, up 10% (17% like-for-like)

Key points H1 2023

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Revenue of EUR 645 million, up 14% (20% like-for-like) Gross profit increase of 11% compared to H1 2022 EBIT of EUR 26.8 million, up 4% (10% like-for-like)

Earnings per share of EUR 0.32, up 167% compared to H1 2022

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Brunel International N.V. Quarterly Report 2023-2

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  • I'm excited to report that since 8 quarters we have consistently shown strong growth across all metrics, confirming our strategic positioning against the favorable trends in our markets. We were able to achieve strong EBIT growth despite one less working day in DACH. I am proud that all our regions are now contributing, confirming our progress on diversification.

I would especially like to call out the Dutch team, who further improved their growth and outperformed the market.

We continue to see strong demand from our clients across the globe. The energy and digital transformations create a high demand for specialized Science, Technology, Engineering and Mathematics talent. With our expanded capabilities in over 45 countries, we continue to win projects and new clients in our chosen market segments.

Following the acquisition of the biggest pure-play renewable team Taylor Hopkinson in 2021, we achieve accelerated growth in the renewable energy markets across all our regions. The combination of Taylor Hopkinson's renewable energy expertise and our global infrastructure with 100% compliant solutions, puts us in a unique position to service this industry globally. We are very proud to be recognized as the global leader in renewable recruitment solutions.

To support our continued profitable growth, we have further rolled out our Digital/AI strategy to continue to move to market leading SAAS-solutions. This enables us to easily add new best-in-classIT-tools and benefit from the software and AI developments by our leading global partners.

We will organize a Capital Markets Day in Q4 to present our mid-term ambitions, as we are clearly ahead of the 5-year plan we communicated in 2021."

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Brunel International N.V. Quarterly Report 2023-2

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ESG update

In April the Brunel Foundation kicked off Autism Awareness Month as we believe that impactful change is achieved through increased awareness. Colleagues around the world organized events such as a webinar on autism in the workplace, an autism awareness quiz, viewing session and panel discussion with the documentary My journey for education as a starting point, "AUT in the Brunel office" interviews and walk-in coaching sessions. All with the aim to contribute to a more inclusive workforce.

We also engaged in several cleanup activities during the quarter, in line with the Brunel Foundation's mission to safeguard the environment. Brunellers from various parts of Asia joined forces with Seven Clean Seas for a beach clean-up in Phuket, collecting 490kg of waste. In the Amsterdam headquarters colleagues rolled up their sleeves for a lunchbreak clean up, while the Europe and Africa team cleaned the Delft canals as part of their team event. On top of that, the numbers in our Global Trash 'n Trace Challenge with Litterati grew to over 440,000 pieces of litter picked and registered in our challenge.

In June, we united for the preservation of our precious planet by spreading awareness in an online campaign. It's crucial to recognize the interdependencies between land and sea, as their vitality and prosperity are inherently intertwined. We highlighted the value of life on land and below water. We believe that raising awareness helps to educate and mobilize individuals and foster a shared responsibility for taking action.

Progress on targets

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Brunel International N.V. Quarterly Report 2023-2

Contents

Brunel delivers accelerated EBIT growth and continued revenue growth

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GROUP PERFORMANCE Brunel International (unaudited)

P&L amounts in EUR million

Q2 2023

Q2 2022

Δ%

Revenue

327.8

289.1

13%

a

Gross Profit

65.6

59.0

11%

Gross margin

20.0%

20.4%

Operating costs

53.8

48.0

12%

b

Operating result

11.7

11.0

6%

Earn out related share

0.7

1.0

-30%

based payments*

c

EBIT

11.0

10.0

10%

EBIT %

3.4%

3.5%

Average directs

11,237

11,356

-1%

Average indirects

1,582

1,446

9%

Ratio direct / indirect

7.1

7.9

a 20 % at like-for-like

d 20 % at like-for-like

b 18 % at like-for-like

e 18 % at like-for-like

c 17 % at like-for-like

f 10 % at like-for-like

Like-for-like is measured excluding the impact of currencies, acquisitions and divestments *Relates to the acquisition related expenses for Taylor Hopkinson

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Brunel International N.V. Quarterly Report 2023-2

H1 2023

H1 2022

Δ%

644.7

563.7

14%

d

134.4

120.9

11%

20.8%

21.4%

106.2

93.1

14%

e

28.2

27.8

2%

1.4

2.1

-33%

26.8

25.7

4%

f

4.2%

4.6%

11,118 11,295 -2%

1,555 1,441 8%

7.1 7.8

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Brunel International NV published this content on 28 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2023 19:20:22 UTC.