21 october 2026
3rd quarter results 2026.
continued top-line momentum drives double-digit profit growth.
sander van 't noordende, CEO jorge vazquez, CFO
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 profit before amortization and impairment of acquisition-related intangibles and goodwill (EBITA) is a measure of company profitability used by investors in the staffing industry to analyze the results of staffing companies.
underlying EBITA: refers to Randstad's adjusted EBITA, excluding integration expenses and one-offs may distort the true operational performance of the business. It provides a clearer picture of the company's ongoing profitability by eliminating the impact of restructuring costs, integration and M&A costs related to acquisitions and other exceptional items.
© randstad 3
agenda.
performance 5 financial results & outlook 11 Q&A 17 appendix 18© randstad 4
01
performance.© randstad 5
Partner for Talent strategy driving performance.summary
key financials Q3 2026
75% of markets in growth
revenue € 6.1BN at +3.9%
delivery excellence driving productivity
underlying gross margin 17.8%
profitability improving year-on-year
underlying EBITA € 211M, 3.5% margin
Partner for Talent strategy impact.growth through specialization
growth momentum broadening in Q3'26
large clients accelerating in logistics, e-commerce, aero & auto
delivery excellence
14,000 more talent at work YoY
deploying AI at scale, +6% more talent per FTE in Q3'26
digital first
digital marketplace driving strong US profit growth
2.3M self-scheduled shifts in Q3, up double-digit QoQ
best team
one randstad team driving commercial success
€ 1.7bln net new sales wins YTD
north america: strategy paying off.us: growth broadening, step up in profitability
operational: +19%, standout performance with DMP benefits and well ahead of market
professional: back to growth, perm growing
digital: flat growth
enterprise: good growth driven by outplacement
canada: growth in operational offset by tougher comparables in enterprise
organic revenue growth YoY, last two quarters*
EBITA margin (underlying)**
major european markets: improving profitability in most markets.
netherlands: good sequential improvement with solid growth
in industrial, logistics and healthcare
germany: double-digit growth among large clients in auto &
manufacturing, delivery excellence driving profit growth
belgium: manufacturing and auto growing, professional and
perm remain soft
france: robust growth in manufacturing, e-commerce and
logistics, pressure in perm and healthcare
italy: improving momentum in operational
iberia: strong performance in Spain, broad based growth
organic revenue growth YoY, last two quarters*
EBITA margin (underlying)**
international markets: step up in growth.
other european markets & latam
uk: up 9%, DMP rollout progressing
poland: down 11%, broadly stable sequentially
switzerland: up 3%, continued momentum
nordics: down 3%, stabilizing further
latam: up 13%, led by brazil
apac
japan: up 8%, strong performance operational
australia & new zealand: up 3%, strong operational
india: up 7%, continued growth
organic revenue growth YoY, last two quarters*
EBITA margin (underlying)**
02
financial results & outlook.© randstad 11
profitability improving.Q3 2026
summary
performance | |||
€ million | Q3 '26 | Q3 '25 | % org. |
revenue | 6,115 | 5,810 | +3.9% |
gross profit | 1,089 | 1,069 | +1% |
gross margin* | 17.8% | 18.4% | |
operating expenses* | 878 | 878 | -1% |
opex %* | 14.4% | 15.1% | |
EBITA* | 211 | 191 | +10% |
EBITA margin* | 3.5% | 3.3% | |
integration costs & one-offs | -/- 15 | -/- 38 | |
amortization & impairment | -/- 19 | -/- 17 | |
net finance income (costs) | -/- 15 | -/- 17 | |
tax expense | -/- 52 | -/- 36 | |
reported net income** | 110 | 83 | +33% |
adjusted net income | 133 | 120 | +11% |
organic revenue up 3.9% YoY
operational: +6% at € 4.2 BN
professional: -/- 1% at € 0.9 BN
digital: -/- 2% at € 0.6 BN
enterprise: +6% at € 0.3 BN
EBITA € 211m, EBITA margin of 3.5%
* before integration costs & one-offs.
** including share of profit of associates.
© randstad 12
gross margin: large client-led growth driving mix.key highlights
temp margin -50 bp YoY
geo & business mix
NL CLA impact
perm fees -10 bp YoY
HRS/other flat YoY
Q3 gross margin development YoY
opex: building scalability to drive further operational leverage.key highlights
opex down 1% YoY
FTE QoQ stable, down 3% YoY
L4Q icr/recovery ratio 108%
continued focus on delivery excellence
driving structural indirect costs savings
Q3 sequential opex bridge (€m)
free cash flow and balance sheet.Q3 free cash flow
Q3 FCF € 250m (Q3 2025: € 244m)
DSO 57.4 (Q2 2026: 57.6 days)
ROIC: 11.2% (Q3 2025: 10.4%)
balance sheet
net debt € 1,147m excl. lease liabilities
leverage ratio excl. lease liabilities: 1.5x
growth momentum
talent at work improved through Q3
further improvement early October
Q4 2026 outlook
gross margin broadly stable sequentially
operating expenses slightly higher QoQ
building operational leverage
03
questions & answers.© randstad 17
04
appendices.© randstad 18
corporate staff by geography.1 average | Q3 2026 | Q3 2025 |
North America | 6,290 | 6,870 |
Netherlands | 3,580 | 3,880 |
Germany | 1,610 | 1,910 |
Belgium & Luxembourg | 1,880 | 2,000 |
France | 3,870 | 4,170 |
Italy | 3,290 | 3,270 |
Iberia | 3,170 | 3,030 |
Other Europe countries and Latin America | 5,430 | 5,580 |
Asia Pacific | 5,400 | 5,370 |
Corporate | 2,480 | 2,090 |
total | 37,010 | 38,160 |
2
number of talent working on a temporary basis by geography.1 average | Q3 2026 | Q3 2025 |
North America | 76,300 | 68,800 |
Netherlands | 42,200 | 46,200 |
Germany | 23,800 | 22,400 |
Belgium & Luxembourg | 33,800 | 36,300 |
France | 69,400 | 70,500 |
Italy | 59,600 | 55,500 |
Iberia | 72,700 | 66,500 |
Other Europe countries and Latin America | 81,300 | 76,900 |
Asia Pacific | 122,300 | 124,400 |
total | 581,500 | 567,500 |
2