USG People N.V.: Q3 2014 results

New York, 31/10/2014 (informazione.it - comunicati stampa - economia)

Sharp improvement in profitability

 

Third-quarter 2014 results

 

Almere, 31 October 2014

 

Third-quarter 2014 highlights

• Revenue rose to EUR 623.8 million (Q3 2013: EUR 599.4 million); revenue per working day increased by 5%
• Underlying operating expenses continued to decline, falling 4% year-on-year
• Underlying EBITA rose by 25% to EUR 28.8 million (Q3 2013: EUR 23.1 million); underlying EBITA margin: 4.6% (Q3 2013: 3.9%)
• Underlying net income doubled to EUR 17.7 million (Q3 2013: EUR 8.9 million) 
• Net debt declined to EUR 189.3 million (Q2 2014: EUR 205.8 million); leverage ratio improved to 1.9

 "We achieved a robust result for the third quarter," said Rob Zandbergen, CEO of USG People. "Revenue per working day grew by 5% and the EBITA margin rose to 4.6%. The profit margin is evolving towards our strategic target. Revenue growth weakened a little during the third quarter. Expenses were reduced further in the third quarter and were EUR 4 million lower than last year. Despite the more unpredictable economic growth we expect the recovery in our markets to persist and  will continue to focus our attention on further improving profitability and providing the right solutions to facilitate growth at our clients as effectively as possible."

 

 

Copyright GlobeNewswire

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