Key points Q1 2019

  • Revenue growth further accelerated to 25% (yoy) to EUR 266 million over the quarter
  • Strong operational leverage, resulting in a 68% increase in EBIT (yoy) to EUR 12 million with EBIT margin up by 1.1 ppt to 4.5%
  • Best quarter in the history of DACH and Middle East & India regions

Jilko Andringa, CEO of Brunel:'Our sales growth has further accelerated in the first quarter. This is yet another confirmation of our strong position, focused around investment projects for customers, in the markets and sectors in which we operate. The outlook remains very positive, with our customers planning significant investments in our main markets, Oil Gas, Automotive, Renewable Energy and Mining & Infrastructure over the next few years. In the Netherlands, we experienced a slight decrease in revenue, mainly due to the circumstances in Insurance & Banking, but we believe this to be temporary. I am especially proud of the results achieved in DACH and Middle East: both regions have broken their record for revenue and EBIT in the first quarter and we see other regions developing in the same direction. We continue to build on our operational leverage in all regions and are well positioned for further growth. I'm also very proud of the global partnership with Specialisterne that we have established in Q1. We will collaborate for the inclusion of autistic and neurodiverse people in the labour market.'

a 22 % like-for-like
b 9 % like-for-like
Like-for-like is measured excluding the impact of currencies and acquisitions

Q1 2019 results by division

P&L amounts in EUR million

Summary:

Like-for-like is measured excluding the impact of currencies and acquisitions

Like-for-like is measured excluding the impact of currencies and acquisitions

The Group's revenue increased by 25% over the quarter to EUR 266.2 million, or 22% on a like-for-like basis. EBIT increased by 68% despite an adverse working day effect in The Netherlands, and the EBIT margin is up by 1.1 ppt.

Revenue per working day in the DACH region increased by 15%. This growth is achieved in all our markets, including our main market Automotive. The gross margin increased due to a better productivity, especially at our competence centers, and less price pressure. Headcount as of 31 March was 2,713 (2018: 2,546).

Working days Germany:

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Brunel International NV published this content on 03 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 May 2019 05:37:00 UTC