Randstad Nv · EURONEXT:RAND
Randstad Nv — Q1 2026 Earnings Presentation
22 slides from Randstad Nv's earnings presentation, Apr 22, 2026
Slide 1: 1st quarter results 2026
22 april 2026 1st quarter results 2026. Partner for Talent strategy building momentum. . sander van ‘t noordende, CEO jorge vazquez, CFO
Slide 2: Disclaimer
disclaimer. certain statements in this document concern prognoses flexible personnel), achievement of cost savings, changes about the future financial condition, risks, investment in the business mix, changes in legislation (particularly in plans, and the results of operations of Randstad N.V. and r
Slide 3: Definitions
definitions. organic growth: externally reported income statement line items (revenue, gross profit, operating expenses and EBITA) adjusted for the impact of changes in foreign currency ("FX"), the effect of hyperinflation and excluding the impact of acquisitions and disposals. EBITA: operating prof
Slide 4: Agenda
agenda. performance 5 financial results & outlook 11 Q&A 17 appendix 18 © randstad 4
Slide 5: Performance
01 performance. © randstad 5
Slide 6: Partner for Talent strategy building momentum
Partner for Talent strategy building momentum. summary key financials Q1 2026 building positive momentum revenue € 5.5BN at +0.4% clear strategic progress underlying gross margin 18.5% strong adaptability underlying EBITA € 146M, 2.7% margin © randstad 6
Slide 7: Partner for Talent strategy impact
Partner for Talent strategy impact. growth through 63% of randstad in growth in Q1’26 specialization momentum in operational accelerating +7% more talent per FTE in Q1’26 delivery excellence 50% of talent validation in talent centers 1.45M self-scheduled shifts in Q1, up 2.5x YoY digital first DMP l
Slide 8: AI & the world of work
AI & the world of work. impact human growth on jobs centric segments © randstad 8
Slide 9: North America: operational business accelerating
north america: operational business accelerating. organic revenue growth YoY, last two quarters* us: momentum accelerating ● operational: +8%, clear DMP benefits ● professional: sequential improvement ● digital: subdued demand ● enterprise: slow start of the year, new clients wins canada: industrial
Slide 10: Major European markets: momentum improving
major european markets: momentum improving. organic revenue growth YoY, last two quarters* netherlands: return to growth driven by healthcare and e-commerce germany: industrial bottoming out belgium: industrial stabilizing, headwinds in professional france: strong automotive and aerospace, pressure
Slide 11: International markets: growth sequentially improving
international markets: growth sequentially improving. organic revenue growth YoY, last two quarters* other european markets & latam ● uk: down 9%, sequential volumes improving ● poland: up 2%, steady performance ● switzerland: up 3%, steady performance ● nordics: down 11%, challenging, sequential li
Slide 12: Financial results & outlook
02 financial results & outlook. © randstad 12
Slide 13: Building momentum: Q1 2026 summary
building momentum. Q1 2026 summary performance organic revenue up 0.4% YoY € million Q1 ’26 Q1 ’25 % org. revenue 5,513 5,656 0.4% gross profit 1,019 1,092 -3% operational: +3% at € 3.7 BN gross margin* 18.5% 19.3% operating expenses* 873 925 -3% opex %* 15.8% 16.4% professional: -/- 4% at € 0.9 BN
Slide 14: Gross margin: impacted by mix
gross margin: impacted by mix. Q1 gross margin development YoY key highlights • temp margin -60 bp YoY • business mix • FX adverse impact • perm fees -20 bp YoY • HRS/other flat YoY © randstad 14
Slide 15: Opex: continued adaptability
opex: continued adaptability. Q1 sequential opex bridge (€m) key highlights • opex down 3% YoY • L4Q recovery rate 68% • continued focus on delivery excellence, building operational leverage • driving structural indirect costs savings © randstad 15
Slide 16: Free cash flow and balance sheet
free cash flow and balance sheet. Q1 free cash flow balance sheet • Q1 FCF € -98m (Q1 2025: € 59m) • net debt € 1,119m excl. lease liabilities • DSO 57.4 (Q4 2025: 56.7 days) • leverage ratio excl. lease liabilities: 1.5x • ROIC: 10.8% (Q1 2025: 10.1%) • € 284m ordinary dividend payout in April © ra
Slide 17: Outlook
outlook. Q2 2026 outlook momentum • gross margin lower QoQ reflecting seasonality • talents at work improved through Q1 • operating expenses higher QoQ • early April in line with March • building operational leverage © randstad 17
Slide 18: Questions & answers
03 questions & answers. © randstad 18
Slide 19: Appendices
04 appendices. © randstad 19
Slide 20: Corporate staff by geography
corporate staff by geography. 1 2 average Q1 2026 Q1 2025 North America 6,590 7,130 Netherlands 3,790 3,930 Germany 1,660 2,140 Belgium & Luxembourg 1,880 2,080 France 3,960 4,350 Italy 3,250 3,370 Iberia 3,010 2,930 Other Europe countries and Latin America 5,270 5,780 Asia Pacific 5,430 5,610 Corpo
Slide 21: Number of talent working on a temporary basis by geography
number of talent working on a temporary basis by geography. 1 2 average Q1 2026 Q1 2025 North America 65,900 64,700 Netherlands 43,600 47,000 Germany 21,800 22,800 Belgium & Luxembourg 31,600 34,500 France 62,200 65,600 Italy 55,500 53,000 Iberia 62,200 57,400 Other Europe countries and Latin Americ
Slide 22: Partner for talent
partner for talent. aie randstad