Amsterdam, 23 February 2024 – Brunel International N.V. (Brunel; BRNL), a global provider
of flexible workforce solutions and expertise, today announced its fourth quarter and full year
2023 results.
Key points Q4 2023
? Revenue of EUR 344 million, up 9% (14% organically)
? Underlying EBIT of EUR 15.5, down 13% (up 3% organically)
Key points full year 2023
? Revenue of EUR 1.3 billion, up 13% (18% organically)
? Underlying EBIT of EUR 61.1, 0% year-on-year (10% organically)
? Net cash position at EUR 31.8 million
? Earnings per share of EUR 0.63, up 9% year-on-year
? Proposed dividend of EUR 0.55 (pay-out: 87%)


CEO Jilko Andringa
“In 2023 we celebrated many highlights. Based on the strong first
nine months, we continued high single digit growth in the year
while we attracted many new clients. We strengthened our
leadership team through internal promotions, had a high
engagement score from candidates and colleagues, and
attracted many new talents.
In the last quarter, we experienced some unexpected headwinds.
While our revenues continued to grow, the impact of high interest
rates and inflation on the offshore wind industry caused sudden
project stops and reconsiderations of projects in the pipeline. This hit our perm
business at Taylor Hopkinson quite hard.
At the same time, the German market slowed down across all industries. We
responded fast, rightsizing our organisation and adjusting our cost levels where
needed and made a step up in executing our entrepreneurial sales approach. Through these actions, we are well positioned to weather these circumstances.
During our Capital Markets Day in November, we showed how we executed our
strategy over the last 3 years. We now have a well-diversified portfolio of markets and capabilities. Our conversion ratio has grown significantly, and we are on track to reach our long-term goals. We presented data on the expected capital investments in our
focus markets, underlining our high confidence that our clients need us more and more in the quarters and years to come. That's why we reconfirmed our growth ambitions, while new tooling, smarter processes and more leverage of our infrastructure will drive conversion and profitability even more.
In this year we also made important steps in executing our ESG strategy. We trained
many colleagues on reducing unconscious bias, continued to work with autism
organizations around the world to bring talent with an identification in this spectrum, closer to job-opportunities and our foundation enlarged our Brunel Foundation Forrest, organized 'Offshore Wind for Kids' events and Trash and Trace events with clients, candidates and internal colleagues.
With our unique infrastructure of more than 12,000 Brunellers in over 45 countries
serving more than 1,000 clients, we are strongly positioned to benefit from the
energy and digital transformation. Through our high integrity standards, our
entrepreneurial spirit, our result driven mindset and our passion for people we are ready for all business challenges and can turn them into opportunities.

see & read more on
https://s29.q4cdn.com/775574951/files/doc_financials/2023/q4/press-release-q4-and-fy-2023.pdf

tijd 09.34
Brunel EUR 10,40. -68 ct vol. 128.730