Brunel continues growth in turnover, margin and EBIT in 1st quarter
2009
Amsterdam, 14 May 2009
Brunel International noted a Q1 2009 turnover of ¤ 184 million, up
13% compared to the same period in 2008. The gross profit amounted to
¤ 40 million from ¤ 38 million over last year.
The gross margin developed from 23.4% to 21.7%.
The EBIT reached an amount of ¤ 13.7 million, an increase of 4%
against the first quarter of 2008.
+------------------------------------------------------+
| Brunel International | | |
|-----------------------------+-------------+----------|
| X ¤ 1 million | Q1 2009 | Q1 2008 | Change % |
|---------------+-------------+-------------+----------|
| | | | |
|---------------+-------------+-------------+----------|
| Turnover | 183.7 | 162.1 | 13% |
|---------------+-------------+-------------+----------|
| Gross Profit | 39.9 | 38.0 | 5% |
|---------------+-------------+-------------+----------|
| Gross margin | 21.7% | 23.4% | -1.7 |
|---------------+-------------+-------------+----------|
| EBIT | 13.7 | 13.2 | 4% |
|---------------+-------------+-------------+----------|
| EBIT % | 7.5% | 8.1% | -0.6 |
|---------------+-------------+-------------+----------|
| (unaudited) | | | |
+------------------------------------------------------+
Brunel Netherlands realised a turnover of ¤ 37.6 million, an increase
of 2% compared to the same period in 2008. The current market for
professional staffing is more challenging and is faced with a lower
productivity as a result of a rapid tightening of the demand for
professionals. As a result of this development the gross margin
decreased.
Brunel Germany realised a turnover of ¤ 30.0 million, a decrease of
8% compared to the same period in 2008. In Germany Brunel is faced
with the effects of the economic downturn which have resulted in a
slowdown of the market for technical project management and
engineering secondment. The result for Brunel is a lower turnover and
a lower gross margin as a result of a lower productivity.
The Energy division realised a turnover of ¤ 110.2 million, an
increase of 28% compared to the same period in 2008, while the gross
margin further improved.
Jan Arie van Barneveld, CEO of Brunel International: "The good
results of the first quarter 2009 are indicative of the strength of
our business. We are all faced with the demanding economic climate
providing us with challenges. However we are confident that we, with
our excellent organisation, can successfully meet these challenges
and continue our strategy of growth.
Currently we consider it prudent not to provide a forecast of the
level of business for the full year".
Not for publication:
For further information:
Jan Arie van Barneveld CEO Brunel
International tel.: +31(0)20 312 50 00
Brunel International N.V. is an international service provider
specialised in the flexible deployment of knowledge and capacity in
the fields of ICT, engineering, legal, finance and insurance &
banking. Services are provided in the form of Project Management,
Secondment and Consultancy. Incorporated in 1975, Brunel has since
become a global company with over 8,000 employees and an annual
turnover of over ¤ 700 million. The company is listed at Euronext
Amsterdam N.V.
Certain statements in this document concern prognoses about the
future financial condition and the results of operations of Brunel
International NV as well as plans and objectives. Obviously, such
prognoses involve risks and a degree of uncertainty since they
concern future events and depend on circumstances that will apply
then. Many factors may contribute to the actual results and
developments differing from the prognoses made in this document.
These factors include general economic conditions, a shortage on the
job market, changes in the demand for (flexible) personnel, changes
in employment legislation, future currency and interest fluctuations,
future takeovers, acquisitions and disposals and the rate of
technological developments. These prognoses therefore apply only on
the date on which the document was compiled.
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
