Brunel Q3 results confirm revenue growth acceleration with increasing EBIT margins.
Key points Q3 2018
Revenue up 21% (yoy) to EUR 234.6 million over the quarter
Strong EBIT improvement, growing 72% (yoy) to EUR 12.0 million with EBIT margin up by 1.5ppt to 5.1%

Key points YTD 2018
Revenue growth of 15% (yoy) to EUR 669.7 million
EBIT more than doubled to EUR 23.3 million
EBIT margin up by 1.5ppt to 3.5%

Jilko Andringa, CEO of Brunel: “The third quarter results demonstrate continued acceleration of our growth, achieving double digit revenue growth in all our segments. Our performance in Europe continues to be strong, while we see even faster growth in all verticals (including Oil & Gas) outside of Europe. This shows our strategy to diversify to adjacent verticals is successful. The fast recovery of the Oil & Gas industry is gaining pace, and the outlook for our activities within this industry are trending upwards as well. I’m confident that we are in a strong position to deliver on our promise to break old records in the years to come.”

Brunel International (unaudited)
P&L amounts in EUR million
Q3 2018 Q3 2017 ?% YTD 2018 YTD 2017 ?%

Revenue 234.6 194.5 21% a 669.7 579.8 15% b
Gross Profit 54.9 46.3 18% 153.5 133.3 15%
Gross margin 23.4% 23.8% 22.9% 23.0%
Operating costs 42.9 39.3 9% c 130.2 121.7 7% d
EBIT 12.0 7.0 72% 23.3 11.6 102%
EBIT % 5.1% 3.6% 3.5% 2.0%
Average directs 12,087 9,665 25% 11,734 9,283 26%
Average indirects 1,542 1,500 3% 1,536 1,485 3%
Ratio direct / Indirect 7.8 6.4 7.6 6.3

a 18 % like-for-like
b 15 % like-for-like
c 8 % like-for-like
d 8 % like-for-like
Like-for-like is measured excluding the impact of currencies and acquisitions

see & read more on
https://www.brunelinternational.net/en/press-releases-archive/2018/11/brunel-q3-2018-results

tijd 09.27
Brunel EUR 12,82 +1,82 vol. 213.000