Brunel continues strong growth path in Q1 2023 through leading position in attractive markets
Amsterdam, 5 May 2023 – Brunel International N.V. (Brunel; BRNL), a global provider of flexible workforce solutions and expertise, today announced its first quarter (Q1) 2023 results.
Key points
Revenue of EUR 317 million, up 15% (19% like-for-like)
Gross profit of EUR 68.8 million, up 11% (15% like-for-like)
EBIT of EUR 15.8 million, up 1% (6% like-for-like)
Jilko Andringa, CEO of Brunel International N.V.: “We continued to demonstrate strong organic revenue growth across all regions and in all strategic markets. The expected development of our chosen focus markets continues to be very positive and that’s why we continue to invest accordingly in our organization. We were able to mostly offset inflation-related salary increases as well as higher cost associated with continued growth-related investments. As a result, our like-for-like EBIT increased by 6%.
Trends in our markets remain robust as continued investments in the digital and energy transition require many more specialists, now and in the foreseeable future. By combining recruitment expertise with global mobility services, we are in a unique position to provide great value to our clients and simultaneously take advantage of the favorable environment in which we operate.
Supporting our clients in the energy transition and in their drive to become more sustainable, is an important element of our ESG strategy. Next to that we continue to execute our plans to lower our own footprint. With our support of certified green projects, we are proud to be a carbon neutral company.
In Q1 we also adapted new tooling to improve further on our ‘excellence in execution’. Our account managers and recruiters are now using market leading AI tools to attract, search, select and retain top talent for our clients.
Brunel is getting stronger and stronger, with all regions maturing and contributing to our strategic profitability goal. We remain ahead of our plan with a sustained focus on multi year, high single digit growth and profitability enhancement across our regions, aimed at achieving a higher than 6% EBIT in 2025.”