Randstad NV (“Randstad”) has experienced a faster than expected recovery of its revenue trend in Q4 2020 so far. Organic revenue growth improved to -4% YoY for October and November 2020 combined, versus -13% YoY reported for Q3 2020. Randstad now expects to deliver a recovery ratio at the upper end of our previous 40%-50% guidance for Q4 2020. We continue to see good momentum for accelerating investments in growth and digitalization of our company, whilst being disciplined on agile cost management. At the same time, visibility remains limited with ongoing macroeconomic uncertainty due to the COVID-19 pandemic.
Jacques van den Broek, CEO of Randstad: “This strong improvement in our topline trend is driven by our global market leadership strengthened by a resilient and diversified product portfolio. Our inhouse concept continues to show a strong performance, while our #newways program fueled competitive growth through a significant increase in our sales activities. In particular, we have seen an increase in our market share in the US and France. Despite partially re-installed lockdowns in some of our main markets, we have seen ongoing demand for essential services such as healthcare, logistics, food retail and e-commerce.”
Randstad will publish its fourth quarter and annual results 2020 on Tuesday, 9 February 2021.