25 April 2008 Q1 2008 Results Presented by Tex Gunning Chief Executive Frits Vervoort CFO This presentation includes forward-looking statements that reflect our intentions, beliefs or current expectations and projections about our future results of operations, financial condition, liquidity, performance, prospects, growth, strategies, opportunities and the industry in which we operate. Forward-looking statements include all matters that are not historical fact. We have tried to identify these forward-looking statements by using words including “may”, “will”, “should”, “expect”, “intend”, “estimate”, “project”, “believe”, “plan”, “seek”, “co ntinue”, “appears” and similar expressions or their negative. These forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause our actual results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets we serve or intend to serve, to differ materially from those expressed in, or suggested by these forward-looking statements. Important factors that could cause those differences include, but are not limited to our financial position and our ability to implement our business strategy and plans and objectives of management for future operations, our ability to develop, balance and expand our business, our ability to implement our long-term growth strategy (including through organic growth and acquisitions), our ability to make improvements to our capital structure, industry and market trends and volumes, including the speed and strength at which the staffing services industry and the sectors in which we operate, rebound from economic slowdowns and recessions, the effects of regulation (including employment and tax regulations), our ability to improve the efficiency of our operations and to reduce expenses in our operating companies and their network of offices, litigation and our ability to take advantage of new technologies. In light of these risks, uncertainties, assumptions and other factors, the forward-looking events described in this presentation might not occur. Additional risks that we may deem immaterial or that are not presently known to us could also cause the forward-looking events discussed in this presentation not to occur. Except as otherwise required by applicable law, we undertake no obligation to update publicly or revise publicly any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason after the date of this2presentation. Q1 2008 Highlights Organic sales up 5% to €2,038.9m • Sales growth of 7% on a per working day basis • 1.2 less business days due to timing of Easter Operating income up 6% to €77.9m (+4% organically) • Traditional +9% • Engineering/Technical +10% • Accounting/Finance +18% • Healthcare +18% 3 Q1 2008 Highlights Currency effects decreased sales by 3% and operating income by 4% Permanent placement fees up 15% Net income up 5% to €46.9m EPS up 4% to €0.27 4 Business Development Acquisition of Pareto Law, UK based graduate placement organisation Active organic growth • Expansion of operations in the Middle East, into Kuwait and Qatar • 102 new offices compared to Q1 2007 • Total global network of 2,588 offices 5 Q1 2008 Operating Summary France gross profit increase 8% • Operating income up 9% • Permanent placement grew by 57% • Accounting/finance, healthcare and engineering sectors all performing well • Particularly strong performance in automotive industry 6 Q1 2008 Operating Summary UK gross profit increase 7% • Operating income down 3% but on a per working day basis up 3% - 6 days lost to our Education business mainly due to timing of Easter • Permanent placement fees increased 22% • Growth across professional/executive sectors - Engineering - Accounting/Finance - Healthcare - Interim Management - HR 7 Q1 2008 Operating Summary Netherlands gross profit up 3% • Operating income up 28% helped by €2m one off gain mainly relating to the realisation of training subsidies relating to prior years • Improved operating income from professional/executive brands especially accounting/finance, IT, education and interim management • Permanent placement fees up 20% 8 Q1 2008 Operating Summary US gross profit down 5% • Operating income increase 2% and sales growth of 1% • Improved results in the IT and healthcare staffing sectors 9 Q1 2008 Operating Summary Other markets • Australia/NZ gross profit increase 6% - Operating income decreased 17% following investments for growth and weakness in the financial sector - Confident of a return to positive improvement in operating income for the remainder of year • Good performances in Belgium, Luxembourg, Portugal, Norway, Turkey and Greece • Strong growth in Canadian IT market • Latin America and India experiencing strong operational growth 10 Income Statement Three months ending 31 March 2008 € million Q1 2008 Q1 2007 Increase Organic Sales 2,038.9 1,939.7 5% 5% Gross profit 396.8 373.7 6% 6% Gross margin 19.5% 19.3% SG&A 318.9 300.3 6% 7% Operating income 77.9 73.4 6% 4% Operating margin 3.8% 3.8% Interest -7.5 -8.7 Tax -23.4 -20.1 Net income 46.9 44.7 5% Earnings per share 0.27 0.26 4% 11 Randstad 1 April 2008: Launch of Public Offer 17 April 2008: European Commision approval 22 April 2008: Announcement of proposed new structure in Benelux 23 April 2008: Randstad shareholders approval Preparations for integration progressing and we are working side by side in a very positive spirit 12 Management Outlook Uncertain economic environment in 2008 with limited visibility • Year has got off to a satisfactory start in Q1 • Despite uncertainty, we expect positive growth in Q2 as well 13 Any Questions?
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