Randstad N.V.

Latest Results (31.03.2026):

Randstad N.V. — Q4 2024: The group reported Q4 2024 revenues of €6,084m (reported -2% YoY; organic revenue per working day -5.5%). Underlying EBITA for Q4 was €200m (3.3% underlying EBITA margin, down 100bp YoY) and operating profit was €(13)m after a €121m goodwill impairment. Q4 net loss was €(149)m (adjusted net income €40m) and diluted underlying EPS was €0.23. For FY 2024, revenue was €24.1bn (-5% YoY), underlying EBITA €754m (3.1% margin), adjusted net income €405m and the company proposes a regular dividend of €1.62 per ordinary share.

Revenue and margins

Q4 2024 revenue €6,084m (reported -2% YoY); organic revenue per working day down 5.5%. Underlying gross profit in Q4 €1,144m (underlying gross margin 18.8% vs 20.7% a year ago). Pressure came from temporary placements (largest margin hit) and the disposal of Monster.

Profitability and one‑offs

Underlying EBITA Q4 €200m (-24% reported; -30% organic) with an underlying EBITA margin of 3.3%. Reported operating profit was €(13)m after a €121m goodwill impairment (Sweden and UK Enterprise) and integration/one‑off costs of €79m in Q4.

Net income and EPS

Q4 net loss €(149)m; adjusted net income €40m (down sharply). Diluted underlying EPS Q4 €0.23 (Q4 2023: €1.40). FY 2024 adjusted net income €405m and underlying diluted EPS ~€2.29 for the year.

Cash flow and balance sheet

Q4 free cash flow €87m (down 70% YoY); FY free cash flow €319m (down 64% YoY). Net debt (excluding IFRS16 leases) rose to €1.28bn at Dec‑31‑2024 (vs €306m a year earlier). Leverage (net debt / 12‑month EBITDA excl. IFRS16) increased to 1.6x (Q4 2023: 0.3x), driven by acquisitions (e.g., Zorgwerk) and dividend payments.

Net finance costs and impairments

Q4 net finance costs €165m (Q4 2023: €22m), including a €139m fair‑value adjustment and impairments on loans/commitments related to CareerBuilder + Monster. Interest and FX effects added to financing headwinds.

Segment performance

Geographically, revenue per working day: North America -7%, Northern Europe -7%, Southern Europe/UK/LatAm -4%, Asia Pacific -3%. Q4 underlying EBITA by region showed declines across most regions; North America EBITA margin 3.4%, Northern Europe 3.0%, Asia Pacific 4.3%.

Shareholder return and outlook

Board proposes a regular dividend of €1.62 per ordinary share (≈€285m total), ex‑dividend March 28, 2025 and payment April 2, 2025. For Q1 2025 Randstad expects modestly higher gross margin sequentially and modestly lower operating expenses; January trading aligned with Q4 trends and Q1 has 0.8 fewer working days vs prior year.

Strategic update

Management highlights progress on the specialization framework, expansion of talent/delivery centers and rollout of the Randstad Talent Platform. The company states it has taken cost and portfolio actions through 2024 to strengthen the business for 2025.