Randstad’s Q2 results were marginally below the consensus estimates on revenues and gross profit but above them on adjusted EBITA. Organic decline deteriorated yoy across the main geographies. Gross margins were impacted by an unfavourable mix but the group reduced its operating expenses to deliver better than expected EBITA. CFO and FCF grew due to better working capital development. For Q3, Randstad expects the gross margin and opex to be lower sequentially, with trends similar to that seen in ....
