Brunel International NV: Q3 2017: Through the trough
November 03 2017 - 3:00AM
Amsterdam, 3 November 2017
Key points Q3 2017
Brunel International (unaudited) |
P&L
amounts in EUR million |
|
|
|
|
|
|
|
|
|
Q3 2017 |
Q3 2016 |
Change% |
|
|
YTD 2017 |
YTD 2016 |
Change% |
|
Revenue |
194.5 |
204.7 |
-5% |
a |
|
579.8 |
674.3 |
-14% |
b |
Gross Profit |
46.3 |
45.3 |
2% |
|
|
133.3 |
140.9 |
-5% |
|
Gross margin |
23.8% |
22.1% |
|
|
|
23.0% |
20.9% |
|
|
Operating costs |
39.3 |
37.2 |
6% |
c |
|
121.7 |
116.2 |
5% |
d |
EBIT |
7.0 |
8.1 |
-14% |
|
|
11.6 |
24.7 |
-53% |
|
EBIT % |
3.6% |
4.0% |
|
|
|
2.0% |
3.7% |
|
|
|
|
|
|
|
|
|
|
|
|
Average directs |
9,665 |
8,931 |
8% |
|
|
9,283 |
9,398 |
-1% |
|
Average indirects |
1,500 |
1,456 |
3% |
|
|
1,485 |
1,494 |
-1% |
|
Ratio direct /
Indirect |
6.4 |
6.1 |
|
|
|
6.3 |
6.3 |
|
|
|
|
|
|
|
|
|
|
|
|
a -5 %
like-for-like |
|
|
|
|
|
|
b -15 %
like-for-like |
|
|
|
|
|
|
c 6 %
like-for-like |
|
|
|
|
|
|
d 4 %
like-for-like |
|
|
|
|
|
|
Like-for-like is
measured excluding the impact of currencies and
acquisitions |
|
The Group's revenue
decreased by 5% due to the decrease in Global Business. In Q3,
Europe has achieved the highest headcount ever.
Revenue in The Netherlands increased by 6%
compared to the third quarter of 2016, mainly driven by the
business lines Engineering and IT.
Revenue per working day increased by 8%. The gross margin adjusted
for working days is 30.6% (2016: 29.3%).
Headcount as of September
30th was 2,280
(2016: 2,125)
Working days The Netherlands
|
Q1 |
Q2 |
Q3 |
Q4 |
FY |
2017 |
65 |
61 |
65 |
63 |
254 |
2016 |
63 |
62 |
66 |
64 |
255 |
Revenue in Germany increased by 4% compared to the third quarter
of 2016. Revenue per working day increased by 5%.
The gross margin adjusted for working days is 38.2% (2016:
37.8%).
Headcount as of September
30th was 2,363
(2016: 2,263)
Working days Germany
|
Q1 |
Q2 |
Q3 |
Q4 |
FY |
2017 |
65 |
59 |
65 |
60 |
249 |
2016 |
62 |
62 |
66 |
62 |
252 |
In Global
Business revenue, excluding impact of the acquisition of SES
Labour Solutions, remained stable from Q2 to Q3. A
10% decline in revenue due to completed projects from the previous
cycle was fully compensated by new projects.
All regions, except Asia, are growing consecutively. Our new
shutdown and maintenance activities in the USA have
already
been able to secure USD 25 million of contracts, with a first small
contribution in Q4.
Outlook for
2017
The headcount development in Europe will
result in a record revenue for Europe in Q4, with The Netherlands
showing the strongest growth.
For Global Business we expect to see the first signs of our
initiatives in our revenue for Q4, of course apart from the impact
of the acquisition.
We confirm our EBIT forecast of at least EUR 15 million for the
full year.
Jan Arie van Barneveld, CEO of
Brunel International N.V.: "The development in
Europe has resulted in a strong performance in Q3.
More importantly, this gives rise to a very nice outlook for Q4 and
onwards. With all the initiatives and successes in Global
Business
I'm confident we are on our way to a growth path I have become
accustomed to at Brunel."
Press release Q3 2017
Press release Q3 2017 appendix
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Brunel International NV via Globenewswire
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