Recruiter Randstad Q4 core earnings match forecast (updated)

Randstad NV

13/02/2024 06:24

(Adds revenue, CEO quote and dividend from paragraph 3)
       Feb 13 (Reuters) - Dutch recruiter Randstad's  RAND.AS 
fourth-quarter core earnings met market expectations on Tuesday,
as solid margin and cash generation offset a drop in revenue.
    The world's biggest staffing company's quarterly underlying
earnings before interest, taxes and amortisation (EBITA) fell
24% year-on-year to 265 million euros ($285 million), matching
analysts' average forecast in a company-provided poll.
    Fourth-quarter revenue fell 9% organically to 6.18 billion
euros, while analysts had expected 6.24 billion euros.
    "The global macroeconomic environment remains uncertain and
this is influencing the decision-making of clients and talent,"
CEO Sander van't Noordende said in a statement.
    "That said, labor markets remain tight and we continue to
demonstrate our ability to adapt and perform in these changing
market conditions," he added.
    Randstad said it planned to return around 632 million euros
of capital to its shareholders, comprising a regular dividend of
2.28 euros per share and a special dividend of 1.27 euros per
share.
($1 = 0.9289 euros)

 (Reporting by Michal Aleksandrowicz in Gdansk; editing by Milla
Nissi)
 ((michal.aleksandrowicz@thomsonreuters.com))