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annual report 2008
true value for society
true value for society
One of the principles on which Randstad was founded is the belief that work is a unifying force in society. Almost fifty years later, we continue to add true value to society through our strong commitment to employability for all people.
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annual report 2008 | quartely summary

quartely summary


Amounts in millions of €, unless otherwise indicated First quarter Second quarter Third quarter Fourth quarter Year 2008
                   
Revenue 2,235.3   3,376.0   4,468.1   3,959.0   14,038.4
                   
Cost of services 1,755.2   2,654.6   3,532.1   3,124.2   11.066.1
                   
Gross profit 480.1   721.4   936.0   834.8   2.972.3
                   
Selling expenses 262.2   381.4   479.3   480.0   1,602.9
General and administrative expenses 114.4   169.0   213.5   228.5   725.4
Amortization and impairment acquisition-related intangible assets and impairment goodwill   4.3     22.3     90.5     561.6     678.7
                   
Total operating expenses 380.9   572.7   783.3   1,270.1   3,007.0
                   
Operating profit/loss 99.2   148.7   152.7   -435.3   -34.7
                   
                   
Net finance costs 2.5*   16.6   33.6   19.0   71.7
                   
Share of profit of associates 4.0   -0.2   0.2   -0.2   3.8
                   
Income before taxes 100.7   131.9   119.3   -454.5   -102.6
                   
Taxes on income -25.6   -35.7   -40.8   223.1   121.0
                   
Net income 75.1   96.2   78.5   -231.4   18.4
                   
                   
                   
Calculation earnings per ordinary share                  
                   
Net income for ordinary shareholders 73.2   94.1   76.7   -233.0   11.0
Amortization and impairment of acquisition-related intangible assets and impairment goodwill (after taxes)   3.1     15.4     77.9     545.1     641.5
                   
Net income for ordinary shareholders before amortization and impairment acquisition-related intangible assets and impairment goodwill    76.3      109.5      154.6      312.1      652.5
Integration costs (after taxes) -   15.7   12.8   16.2   44.7
One-offs (after taxes) -   -   -12.8   -206.8   -219.6
                   
Net income for ordinary shareholders before amortization and impairment acquisition-related intangible assets, impairment goodwill, integration costs and one-offs    76.3      125.2      154.6      121.5      477.6
                   
                   
Basic earnings (€) 0.63   0.68   0.45   -1.37   0.07
Diluted earnings (€) 0.63   0.68   0.45   -1.37   0.07
Diluted earnings before amortization and impairment acquisition-related intangible assets and impairment goodwill (€)    0.65      0.79      0.91      1.84      4.38
Diluted earnings per ordinary share before amortization and impairment acquisition-related intangible assets, impairment goodwill, integration costs and one-offs (€)    0.65      0.90      0.91      0.72      3.21
                   
                   
Average number of ordinary shares outstanding (in millions)  116.7    138.6    169.4    169.5    148.6
Average number of diluted ordinary shares outstanding (in millions)  117.0    138.8    169.6    169.7    148.9

1 Adjusted for dividend on preferred shares (€ 1.8 million); following a change in the Articles of Association, preferred shares are accounted for as equity.