Randstad : Incremental conversion ratio should be viewed as an outcome, not a goal
>ICR remaining below 30% should not be considered a problem - In this update we look at Randstad’s incremental conversion ratio (ICR), which is its ability to translate additional gross profit into adjusted EBITA. In its 1Q 2022 outlook, the company stated it is steering towards an ICR of about 30% for 1Q. In our forecasts, we end up at 28% for 1Q, and despite the company aiming for a general ICR target of more than 50%, we predict an ICR closer to 30% for every quart...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.
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.
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