Brief: Randstad Expects Lower Gross Margin In Q1

Randstad NV

13/02/2024 06:12

Feb 13 (Reuters) - Randstad NV  RAND.AS :
    * FY 2023: RESILIENT PERFORMANCE, STRONG FREE CASH FLOW
    * Q4 2023 ORG. REVENUE GROWTH -8.6%
    * ORGANIC REVENUE PER WORKING DAY WAS DOWN 8.6% YOY IN Q4
2023
RESULTING IN REVENUE OF € 6,183 MILLION
    * END-Q4 STRONG FY FREE CASH FLOW, UP 19%YOY, TOTALLING €
883M
    * 2023 PROPOSED TOTAL RETURN OF AROUND €632M OF CAPITAL TO
SHAREHOLDERS
    * Q1 2024 GROSS MARGIN IS EXPECTED TO BE MODESTLY LOWER
SEQUENTIALLY DUE TO SEASONALITY
    * Q1 2024 OPERATING EXPENSES ARE EXPECTED TO BE MARGINALLY
HIGHER
SEQUENTIALLY
    * Q4 REVENUE EUR 6.18 BILLION VERSUS EUR 6.24 BILLION IN
COMPANY-PROVIDED CONSENSUS
    * Q4 NET INCOME (BEFORE AMORTIZATION/ONE-OFFS) EUR 163
MILLION
VERSUS EUR 183 MILLION IN COMPANY-PROVIDED CONSENSUS
    * TOTAL REVENUE IN THE ASIA PACIFIC REGION WAS DOWN 3%
ORGANICALLY
YOY (Q3 2023: UP 2%)
    * IN Q4 OUR BUSINESS IN INDIA WAS UP 1% YOY (Q3 2023: UP 7%)
    * THERE WILL BE A NEGATIVE 0.8 WORKING DAY IMPACT IN Q1 2024
    * PROPOSES TO PAY A REGULAR CASH DIVIDEND PER ORDINARY SHARE
OF €
2.28
    * ALSO PROPOSES TO PAY A SPECIAL CASH DIVIDEND OF €1.27 PER
ORDINARY SHARE

Further company coverage:  RAND.AS 

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