Key points Q2 2018
- EBIT up to EUR 4 million
- Revenue up by 17% to EUR 221 million
Key points H1 2018
- EBIT up 148% to EUR 11 million
- Revenue up by 13% to EUR 435 million
Jilko Andringa, CEO of Brunel International N.V.: “I’m excited to see our growth accelerate, and to present a strong increase in profitability. I’m thrilled by the underlying level of activities we see in our internal teams, in the sales pipeline and in our communities of professionals. With strong global collaboration, we are able to help our global clients with our entrepreneurship and compliant delivery. The economic conditions in our key markets remain healthy, whilst the segments of the global Oil & Gas market we operate in are clearly recovering. All Brunel colleagues keep demonstrating our unique capabilities to attract and retain specialists to help our clients continue to grow, while talent is scarce. I trust we will be able to maintain this performance in the rest of the year, especially considering that not all the initiatives we have started are fully contributing yet.”
Brunel International (unaudited) |
|||||||||
P&L amounts in EUR million |
|||||||||
Q2 2018 |
Q2 2017 |
Δ% |
H1 2018 |
H1 2017 |
Δ% |
||||
Revenue |
221.3 |
188.9 |
17% |
a |
435.1 |
385.3 |
13% |
b |
|
Gross Profit |
48.7 |
39.7 |
23% |
98.7 |
86.9 |
14% |
|||
Gross margin |
22.0% |
21.0% |
22.7% |
22.6% |
|||||
Operating costs |
44.6 |
40.8 |
9% |
c |
87.4 |
82.4 |
6% |
d |
|
EBIT |
4.1 |
-1.2 |
n/a |
11.3 |
4.6 |
148% |
|||
EBIT % |
1.8% |
-0.6% |
2.6% |
1.2% |
|||||
Average directs |
11,889 |
9,201 |
29% |
11,558 |
9,093 |
27% |
|||
Average indirects |
1,539 |
1,496 |
3% |
1,533 |
1,478 |
4% |
|||
Ratio direct / Indirect |
7.7 |
6.2 |
7.5 |
6.2 |
a 16 % like-for-like
b 14 % like-for-like
c 10 % like-for-like
d 7 % like-for-like
Like-for-like is measured excluding the impact of currencies and acquisitions
H1 2018 results by division
Summary:
Revenue |
Q2 2018 |
Q2 2017 |
Δ% |
H1 2018 |
H1 2017 |
Δ% |
|
DACH region |
65.8 |
56.6 |
16% |
130.0 |
117.9 |
10% |
|
The Netherlands |
54.1 |
46.6 |
16% |
110.3 |
94.5 |
17% |
|
Australasia |
28.2 |
21.5 |
31% |
56.0 |
45.4 |
23% |
|
Middle East & India |
20.3 |
15.1 |
34% |
39.5 |
31.0 |
27% |
|
Rest of world |
52.9 |
49.2 |
8% |
99.4 |
96.4 |
3% |
|
Total |
221.3 |
188.9 |
17% |
435.1 |
385.3 |
13% |
EBIT |
Q2 2018 |
Q2 2017 |
Δ% |
H1 2018 |
H1 2017 |
Δ% |
|
DACH region |
4.7 |
2.7 |
70% |
10.4 |
10.1 |
2% |
|
The Netherlands |
1.1 |
0.6 |
84% |
5.3 |
3.2 |
68% |
|
Australasia |
-0.5 |
-0.6 |
12% |
-0.5 |
-0.7 |
32% |
|
Middle East & India |
1.7 |
0.3 |
557% |
3.4 |
0.7 |
404% |
|
Rest of world |
-0.4 |
-1.9 |
77% |
-2.3 |
-3.9 |
41% |
|
Unallocated |
-2.4 |
-2.3 |
6% |
-5.0 |
-4.8 |
4% |
|
Total |
4.1 |
-1.2 |
-453% |
11.3 |
4.6 |
148% |
DACH region (unaudited) |
||||||||
P&L amounts in EUR million |
||||||||
Q2 2018 |
Q2 2017 |
Δ% |
H1 2018 |
H1 2017 |
Δ% |
|||
Revenue |
65.8 |
56.6 |
16% |
130.0 |
117.9 |
10% |
||
Gross Profit |
20.1 |
17.1 |
18% |
40.7 |
39.1 |
4% |
||
Gross margin |
30.6% |
30.2% |
31.3% |
33.2% |
||||
Operating costs |
15.4 |
14.4 |
7% |
30.3 |
29.0 |
4% |
||
EBIT |
4.7 |
2.7 |
70% |
10.4 |
10.1 |
2% |
||
EBIT % |
7.1% |
4.8% |
8.0% |
8.6% |
||||
Average directs |
2,606 |
2,401 |
9% |
2,565 |
2,389 |
7% |
||
Average indirects |
476 |
453 |
5% |
474 |
442 |
7% |
||
Ratio direct / Indirect |
5.5 |
5.3 |
5.4 |
5.4 |
Revenue
After the investments in the sales force during prior years, we now see growth in all businesses within the DACH region. This region includes Germany with both its secondment and projects business, Switzerland, Austria and Czech Republic. Revenue per working day increased by 15% in Q2. Headcount at 30 June 2018 is 9% above last year’s headcount.