Amsterdam, 1 August 2025 – Brunel International N.V. (Brunel; BRNL), a global specialist delivering customised project and workforce solutions to drive sustainable industry transformations through technology and talent, today announced its second quarter and first half 2025 results.
Q2 2025 Key points
- Revenue of EUR 303 million, down 12% (down 7% organically)
- Gross profit of EUR 52 million, down 20% (down 14% organically)
- Underlying EBIT of EUR 6.3 million, down 46% (down 27% organically)
- Additional cost reduction program in execution, to deliver around EUR 10 million in structural yearly savings, with one-off cost of around EUR 8 million
- Continuing deployment of our IT platform, including AI capabilities
H1 2025 Key points
- Revenue of EUR 613 million, down 11% (down 8% organically)
- Gross Profit of EUR 109 million, down 19% (down 16% organically)
- Underlying EBIT of EUR 14.7 million, down 45% (down 31% organically)
- Free cash flow EUR 24.3 negative (EUR 0.2 negative)
- Cost reduction program delivered EUR 13.4 lower cost to EUR 94 million, down 12%
- Earnings per share of EUR 0.01 (H1 2024: EUR 0.30)
Peter de Laat, CEO: “Our second quarter unfolded largely in line with expectations, with a slightly improved year-on-year trend compared to Q1. We saw continued softness in the Netherlands and DACH. At the same time, the performance in Australasia, Americas and Asia was relatively strong. In DACH, we were able to keep the headcount fairly stable compared to Q1. The announced governmental investments in DACH do not yet result in an increased demand although we are growing in the Defence and Energy market. In the Netherlands, clients remain reluctant to work with freelancers. Our global perm placement activities recovered slightly compared to Q1, with fees increasing from EUR 3.3 million to EUR 4.1 million, although still significantly down on last year.
The cost reduction program launched in the summer of 2024 is delivering results. We achieved EUR 13.4 million cost savings in H1, ahead of our targeted EUR 20 million annual run-rate. Considering the ongoing market challenges we have now initiated an additional programme, including the closure of our test centre for car parts in Germany. This additional programme is expected to deliver around EUR 10 million in additional annual savings, with a one-off impact of EUR 8 million.
With these measures, we continue to align our cost structure to the continued lower level of activity. Meanwhile, we continue to strengthen our digital foundation and drive the integration of AI into our services. These investments, combined with our disciplined execution, ensure we remain well-positioned to capture the opportunities that lie ahead, even in a challenging macroeconomic context.”
Results call
Today (1 August 2025), at 10:30 AM CEST, Brunel will be hosting a results call. ID 014728 The dial-in number for the Netherlands is +31 85 888 7233, for UK: +44 800 358 1035, for US: +1 646 233 4753. Other locations – see www.brunelinternational.net.
You can listen to the call through a real-time audio webcast. You can access the webcast and presentation at https://events.q4inc.com/attendee/348617412. A replay of the presentation and the Q&A will be available on our website by the end of the day.
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Source: Brunel International NV
