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Q2 2019 Randstad NV Earnings Call Transcript
Hello, and welcome to the Randstad Second Quarter 2019 Results Call. My name is Mahan, and I'll be your coordinator for today's event. (Operator Instructions)
I am now handing you over to your host, Jacques van den Broek, CEO, to begin today's conference. Thank you.
Yes. Thank you. Yes, Mahan. Good morning, everybody. Q2 2019, a solid performance in uncertain macroeconomic conditions, so great to take you through it, and I will go immediately to Slide 6 where we see the heading, European conditions challenging and robust gross margin.
So when we analyze the 1.7% negative growth we're seeing, we can attribute directly 1%, so 60% of that, to automotive and related industries. This is in Germany. Of course, we saw that in Q2 and Q1 already, but also in the Netherlands and Belgium. I'll shed a little bit more light on that one later on.
Our North American business did quite well at a fairly stable level with great returns. And when I talk about North
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