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Brunel Q4 Profit Steady Amid Revenue Slide, Cost Cuts Drive 4% Share Gain

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Brunel International NV reported fourth-quarter underlying operating profit of €11.6 million, essentially flat with the prior quarter, as aggressive cost reductions offset a 10% year-on-year revenue decline to €300.4 million. The Amsterdam-listed staffing firm's shares jumped over 4% following the results, reflecting investor confidence in the company's cost management strategy.

Revenue fell 10% to €300.4 million from €334.5 million a year earlier, with gross profit declining 15% to €52.8 million as the gross margin narrowed to 17.6% from 18.5%. The company's permanent recruitment business collapsed 39% to €3.1 million, while operating costs fell 13% to €41.2 million, cushioning the profit decline. After one-off charges of €9.1 million, reported EBIT dropped 83% to €2.4 million from €14.3 million.

Chief Executive Peter de Laat credited the company's cost reduction initiatives for delivering expected results, with operating costs declining 9% organically year-on-year. The company expects year-on-year trends to improve in the first quarter of 2026, with the DACH region returning to growth while the Netherlands faces a slow start. For the full year, Brunel reported revenue of €1.217 billion, down 11%, with underlying EBIT of €38.2 million, down 35% from €58.6 million.