In Q2 20, organic revenue dropped by 25% (less than the consensus expected) and the EBITA margin before integration costs and one-offs (1.5% of revenue) beat the consensus. In addition, the group had strong free cash flow. The group benefited from cost management, low WCR and the governmental measures implemented in several countries. According to management, July indicates further positive momentum vs June 2020 (-21%) and the second half of March 2020 (-30%) and April 2020.
21 Jul 2020
Better than expected in Q2 20
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Better than expected in Q2 20
Randstad NV (RAND:WBO) | 0 0 (-0.8%) | Mkt Cap: 10,747m
- Published:
21 Jul 2020 -
Author:
Hélène Coumes -
Pages:
3
In Q2 20, organic revenue dropped by 25% (less than the consensus expected) and the EBITA margin before integration costs and one-offs (1.5% of revenue) beat the consensus. In addition, the group had strong free cash flow. The group benefited from cost management, low WCR and the governmental measures implemented in several countries. According to management, July indicates further positive momentum vs June 2020 (-21%) and the second half of March 2020 (-30%) and April 2020.