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2016-02-26

USG People NV : Q4 2015 results

POSITIVE TREND CONTINUES

Q4 2015: REVENUE +12%; EBITA +30%

FY 2015: REVENUE + 8%; EBITA + 26%

Almere, 26 February 2016

Fourth-quarter 2015 Hightlights

· Revenue rose 11.9% to € 677.3 million (Q4 2014: € 605.1 million);
revenue per working day up 10.7%
· Growth in revenue per working day in the Netherlands accelerated to
13.2% (Q3 2015: 12.1%)
· Underlying expense ratio improved to 14.8% (Q4 2014: 16.0%)
· Underlying EBITA increased 29.9% to € 36.1 million (Q4 2014: € 27.8
million); underlying EBITA margin rose to 5.3% (Q4 2014: 4.6%)
· Underlying net income rose to € 23.8 million (Q4 2014: € 19.5 million)

FY 2015 Highlights

· Revenue rose 8.3% to € 2,550.7 million (2014: € 2,355.0 million)
· Underlying gross profit rose 5.8% to € 520.6 million (2014: € 492.1
million)
· Underlying expense ratio improved by 100 basis points to 15.6% from
16.6% in 2014
· Underlying EBITA increased by 26.2% to € 109.4 million (2014: € 86.7
million)
· Underlying net income rose to € 65.3 million (2014: € 51.9 million)
· Leverage ratio improved to 1.2 from 1.7 in 2014

"The positive trend in our results continued in the fourth quarter," said Rob
Zandbergen, CEO of USG People. "Our revenue increased by 12% and there was a
high rate of conversion to underlying EBITA, which improved by 30%. We
achieved double-digit growth in the Netherlands and Belgium and outperformed
the market in all four countries.
Effective cost management in combination with the revenue growth enabled us to
comfortably achieve our stated target for improving our cost structure.
Costs as a percentage of revenue fell by another full percentage point in
2015. Our staff achieved a good performance in several respects, both in the
area of commercial and operational excellence and in realising our ambition
to provide innovative solutions for our clients. The execution of our
strategy led to highly satisfactory returns in 2015. If the proposed public
offer by Recruit for our shares, announced on 22 December, is declared
unconditional USG People will continue as a unit of a globally operating
organisation. Linking up with Recruit will enable us to further accelerate
our growth and develop our positioning on the continental European market
more rapidly. I would like to thank all our employees for their commitment
and the contribution they have made to the good results in the past year."

The full press release including appendices is enclosed as PDF

Q4 2015 results
http://hugin.info/130803/R/1989502/730733.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: USG People NV via Globenewswire

HUG#1989502

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