Randstad posts steeper organic revenue drop than expected, shares fall (updated)

Randstad NV

11/02/2026 08:56

Recasts with organic revenue and shares in paragraphs 1-4, adds CEO comments in paragraphs 6-7, 9, EBITA and dividend in paragraphs 10-11

Organic revenue falls more than expected, weighed by Germany, Netherlands

Revenue trends improved in early 2026, CEO van't Noordende says

Shares fall 7%, on track for their worst day since April 2025

Feb 11 (Reuters) - Recruitment group Randstad's RAND.AS organic revenue fell more than expected in the fourth quarter, dragged by weak performances in its key Northern European markets, it said on Wednesday.

The company's shares fell around 7% in early Amsterdam trading, on track for their biggest one-day drop since last April if the losses persist through the session.

Recruiters like Randstad and Adecco ADEN.S have found themselves in a tight spot as artificial intelligence upends labour markets and slow economic growth in their key regions hampers hiring. Their shares too have slid to pre-pandemic levels.

Randstad reported a 2.1% decline in organic revenue, steeper than the 1.4% drop analysts had pencilled in, a company-provided poll showed. On a reported basis, which includes effects from converting foreign currencies to euros, revenue fell by 4.4% to 5.82 billion euros ($6.93 billion), as expected by analysts.

Revenue in North America, which represents roughly a fifth of the group total, grew 1% organically, while underlying gains from key European regions declined, with Germany seeing a 10% drop and the Netherlands falling 7%.

However, Randstad CEO Sander van't Noordende was cautiously optimistic, telling Reuters the company was seeing an "upward trend (in revenue) into the start of the year". The company's organic revenue fell only by 0.4% in January, it said in the press release.

Van't Noordende also pointed to Randstad returning to profit in the fourth quarter after a loss in 2024, although the net income of 90 million euros missed analysts' forecast due to a non-cash impairment.

DIGITALISATION DRIVES COST CUTS

Quarterly operating expenses dropped 10% compared to last year. Van't Noordende had previously flagged that with revenue stagnating, the company would have to cut costs and increase productivity to boost profits.

Digitisation and centralisation helped reduce costs, the CEO said on Wednesday. "We expect AI to continue to help us to streamline our processes and free up time and attention for other things as we pursue growth elsewhere," he added.

Randstad's underlying earnings before interest, taxes and amortisation were slightly above consensus at 191 million euros. Its EBITA margin, which measures operating earnings as a percentage of revenue, remained stable at 3.3%.

The company will propose a dividend of 1.62 euros per ordinary share for 2025.

($1 = 0.8393 euros)

(Reporting by Jakob Van Calster in Gdansk; Editing by Milla Nissi-Prussak and Christopher Cushing)

((jakob.vancalster@thomsonreuters.com))