Report
Konrad Zomer

Randstad : Hesitation eats into EBITA

In years of decline, Randstad aims to recover 50% of the fall in gross profit via a contraction in operating expenses. In this report, we take a deep dive into the incremental conversion and recovery ratio and estimate that only 7.2% will be recovered this year. Underperform maintained. - >Deep dive into incremental conversion (ICR) and recovery (RR) ratios - In this report, we look in detail at the company’s ability to adjust its cost base to cope with the cyclicality...
Underlying
Randstad NV

Randstad is a global staffing and recruitment company, providing various solutions in the human resources (HR) services space. Co.'s services include regular temporary staffing and permanent placement of candidates. In addition, Co. provides several other HR solutions, such as Recruitment Process Outsourcing (RPO), Managed Services Programs (MSP), payroll services, and outplacement. Co. provides four distinct service concepts: Staffing, Inhouse Services, Professionals and HR Solutions.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Konrad Zomer

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