Brunel Q2 and H1 2025 results: Driving efficiency, building resilience

Core Viewpoint - Brunel International N.V. reported its second quarter and first half 2025 results, highlighting a mixed performance across different regions and ongoing cost reduction efforts [1]. Q2 2025 Key Points - Revenue for Q2 2025 was EUR 303 million, a decrease of 12% (7% organic decline) [8]. - Gross profit for Q2 2025 was EUR 52 million, down 20% (14% organic decline) [8]. - Underlying EBIT for Q2 2025 was EUR 6.3 million, a decline of 46% (27% organic decline) [8]. - The company experienced continued softness in the Netherlands and DACH regions, while performance in Australasia, Americas, and Asia was relatively strong [4]. - Global permanent placement activities showed a slight recovery, with fees increasing from EUR 3.3 million to EUR 4.1 million compared to Q1 2025, although still significantly lower than the previous year [4]. H1 2025 Key Points - Revenue for H1 2025 totaled EUR 613 million, down 11% (8% organic decline) [8]. - Gross profit for H1 2025 was EUR 109 million, a decrease of 19% (16% organic decline) [8]. - Underlying EBIT for H1 2025 was EUR 14.7 million, down 45% (31% organic decline) [8]. - Free cash flow for H1 2025 was negative EUR 24.3 million, compared to negative EUR 0.2 million in H1 2024 [8]. - The cost reduction program initiated in summer 2024 delivered EUR 13.4 million in savings, with a target of EUR 20 million annual run-rate [5]. - An additional cost reduction program is expected to yield around EUR 10 million in annual savings, with a one-off impact of EUR 8 million [5].