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View All NewsNetherlands - Brunel achieves strong growth in Q1 2018
Brunel (BRNL: NA), the global energy staffing firm grew revenue by 11% on a like-for-like basis to EUR 214 million in the first quarter of 2018 compared to the prior-year quarter. EBIT also grew strongly by 26% to EUR 7.2 million despite an adverse working day effect in The Netherlands and DACH region.
| (EUR millions) | Q1 2018 | Q1 2017 | Change | Like-for-Like Change |
| Revenue | 213.8 | 196.4 | 9% | 11% |
| Gross Profit | 50.0 | 47.2 | 6% | - |
| EBIT | 7.2 | 5.7 | 26% | - |
Jilko Andringa, CEO of Brunel said: "The strong growth we expected is starting to show in most regions. I am very happy to report growth and improved profitability. Especially the performance in The Netherlands and Middle East stands out. This is the result of the initiatives we have started, both in entering new markets as well as in investments in digital tools and solutions. I am confident the initiatives will contribute to continued and accelerated growth, also in other regions. This growth is helped by the healthy economic conditions in our main markets."
Brunel saw growth in all regions on a like-for-like basis. The company has adjusted its management structure to encompass the following regions: DACH (Germany, Austria, Switzerland and Czech Republic), The Netherlands, Americas, Australasia, Europe & Africa, Middle East & India, Russia & Caspian area and South East Asia. From Q1 2018 onwards, all regions exceeding 10% of total revenue or EBIT are reported separately. The remaining regions are combined in Rest of World. Main changes in our segment reporting are:
Revenue Growth by Region
| Q1 2018 | Q1 2017 | Change | Like-for-Like Change | |
| DACH region | 64.1 | 61.3 | 5% | 5% |
| The Netherlands | 56.2 | 47.9 | 17% | 17% |
| Australasia | 27.7 | 24.0 | 15% | 1% |
| Middle East & India | 19.2 | 16.0 | 20% | 38% |
| Rest of World | 46.6 | 47.2 | -1% | 8% |
| TOTAL | 213.8 | 196.4 | 9% | 11% |
In South East Asia. the company has not yet been able to compensate for the significant projects that were completed in the first half of 2017. Operating costs have also increased as a result of investments in digital solutions, acquisitions made in 2017 and the start-up of construction and maintenance activities in the US.
The company stated in its outlook that it expects growth to accelerate in the course of this year, and profitability to improve.
Brunel International NV (BRNL:AEX) set a new 52-week high during today's trading session when it reached 16.72. Over this period, the share price is up 9.67%, which means the company has a market cap of €765.13 million