Logo of personnel service provider Randstad is seen in Zurich

Randstad Posts Slight Second-Quarter Beat as Job Markets Tighten

Randstad reported quarterly earning before interest, taxes, amortisation (EBITA) of 260 million euros ($306.77 million), beating an average forecast of 244 million euros in a company poll of a dozen analysts.

Randstad said organic revenue per working day increased by 38.2% year-on-year in the latest quarter and that “volumes in early July indicate continued positive momentum.”

Group sales were up 38% from a year earlier at 6.08 billion euros, compared to a forecast of 5.84 billion and were 3% higher than to pre-pandemic levels in 2019.

“It is pretty much across the board,” Randstad’s finance chief Henry Schirmer said in an interview. “Logistics, e-commerce, healthcare, government, those are performing well.”

As a result of strong growth and a tightening of labour markets, Randstad said it had hired 2,400 new staff globally, an increase of 16%.

“We are pretty much hiring in all geographies, but there is emphasis on North America and the profitable markets, he said.

“Good growth. Strong profitability. Good productivity. ..all in all also a very stable balance sheet. It’s hard to shoot a hole in it,” Schirmer said.

($1 = 0.8475 euros)

(Reporting by Anthony Deutsch; Editing by Kim Coghill and Tomasz Janowski)