- Continued high revenue growth and strongly improved profit margins
Key points Q4 2018
Revenue growth of 16% (yoy) to EUR 245 million over the quarter
Strong EBIT improvement, growing 69% (yoy) to EUR 10.7 million with EBIT margin up by 1.4ppt to 4.4%
All-time high number of 13,000 specialists and professionals.

Key points full year 2018
Revenue growth of 16% to EUR 915 million
Excellent results in Middle East, India and Russia in multiple verticals
Strong EBIT improvement, growing 90% (yoy) to EUR 34.1 million with EBIT margin up by 1.4ppt to 3.7%
Earnings per share (EPS) up 173% to EUR 0.41
Proposed dividend EUR 0.25 per share, versus EUR 0.15 in 2017

Jilko Andringa, CEO of Brunel: “Brunel’s 43rd and my first year was in many aspects a very good year. Thanks to the hard work of all our professionals at our clients and the colleagues in our offices, growth returned and accelerated in many regions through the year. We ended the year with almost 13,000 professionals working on projects at our local and global clients. An all-time record for Brunel, proof that our strategy to diversify to adjacent vertical activities is starting to pay off. To follow the successful course and performance of Team Brunel during last year’s Volvo Ocean Race: we will continue to execute on our strategy to further improve our growth and profitability and to create a more sustainable world for professionals and future professionals. We have seen continued strong growth in January 2019, so we expect another exciting year!”


Brunel International (unaudited)
P&L amounts in EUR million
Q4 2018 Q4 2017 ?% FY 2018 FY 2017 ?%
Revenu 244.9 210.2 16% a 914.6 790.1 16% b
Gross Profit 55.4 49.4 12% 208.9 182.7 14%
Gross margin 22.6% 23.5% 22.8% 23.1%
Operating costs 44.7 43.0 4% c 174.8 164.8 6% d
EBIT 10.7 6.4 69% 34.1 17.9 90%
EBIT % 4.4% 3.0% 3.7 2.3%

Average directs 12,618 10,505 20% 11,955 9,589 25%
Average indirects 1,570 1,533 2% 1,544 1,497 3%

Ratio direct / Indirect 8.0 6.9 7.7 6.4
Earnings per share 0.41 0.15 173%
Dividend 0.25 0.15 67%
a 17 % like-for-like
b 16 % like-for-like
c 4 % like-for-like
d 7 % like-for-like
Like-for-like is measured excluding the impact of currencies and acquisitions

Q4 2018 and FY 2018 results by division

P&L amounts in EUR million
Summary:
Revenu Q4 2018 Q4 2017 ?% YTD 2018 YTD 2017 ?%
DACH region 68.1 59.7 14% 268.6 238.5 13%
The Netherlands 57.0 53.9 6% 220.1 195.3 13%
Australasia 27.6 31.9 -14% 113.9 102.4 11%
Middle East & India 25.1 17.8 41% 87.3 63.7 37%
Rest of world 67.0 46.9 43% 224.6 190.3 18%

Total 244.9 210.2 16% 914.6 790.1 16%

EBIT Q4 2018 Q4 2017 ?% YTD 2018 YTD 2017 ?%

DACH region 6.2 3.4 80% 25.1 21.9 15%
The Netherlands 3.3 5.3 -37% 11.6 11.3 3%
Australasia -0.3 0.8 -134% -0.8 0.0 -6683%
Middle East & India 2.5 1.0 155% 8.0 2.3 243%
Rest of world 0.6 -2.0 127% -1.5 -7.8 81%
Unallocated -1.6 -2.1 27% -8.4 -9.8 15%
Total 10.7 6.4 69% 34.1 17.9 90%

The Group’s revenue in Q4 increased by 16%, which was fully organically.

see & read more on
https://www.brunelinternational.net/en/press-releases-archive/2019/02/brunel-q4-and-fy-results

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