Randstad organic revenue growth beats expectations (updated)

Randstad NV

22/04/2026 06:26

Organic revenue growth, underlying EBITA beat consensus

Little impact from Iran war, CEO says

Shares up around 5.6%

Adds bullet points, updates share move in para 6, adds analyst comment in para 7

By Jakob Van Calster

April 22 (Reuters) - Randstad RAND.AS, one of the world's largest recruitment firms, on Wednesday reported quarterly organic revenue growth which beat market forecasts and said it had seen limited impact from the U.S. Israeli war with Iran.

The company reported organic growth per working day of 0.4%, beating the consensus figure of -0.4% analysts had expected in a company provided consensus.

CEO Sander van 't Noordende told Reuters the conflict in the Middle East had had a "very limited impact" on its performance.

There have been "no big stories of clients. Life has continued," van 't Noordende said, noting the region most affected by the impact of energy prices, the Asia-Pacific region, had remained robust.

SHARES RISE

Early activity in April was seen in line with the performance in March, the Dutch headhunter reported.

Randstad shares were up around 5.6% in early morning trading in Amsterdam.

"Downward earnings revisions should finally come to an end," Degroof Petercam said in a note to clients, noting that comparable sales growth was positive for the first time in three years and that momentum should continue into the next quarter.

Underlying earnings before interest, taxes, and amortisation (EBITA) for the period were 146 million euros ($171 million), compared with a consensus of 143 million, with an EBITA margin of 2.7%, Randstad said.

The company said it expected its gross margin to be slightly lower in the coming quarter, pointing to seasonality, and forecast slightly higher operating expenses.

Quarterly sales in Germany and the Netherlands fell by 4% and grew by 1% respectively year-on-year. Randstad's American business, which represents about one‑fifth of total revenue and includes the United States and Canada, saw flat revenue growth.

Randstad's CFO Jorge Vazquez said the North America segment outperformed as the operational division in the United States, "by far our largest part of the (U.S.) business", showed very good exit levels into the coming quarter.

($1 = 0.8517 euros)

 (Reporting by Jakob Van Calster; Editing by Matt Scuffham)

 ((jakob.vancalster@thomsonreuters.com))