Hays (HAS) investor relations material

Executive summary

• Group net fees declined 8% year-over-year, with Temp and Contracting down 6% and Perm down 12%.

• Consultant net fee productivity grew for the tenth consecutive quarter, up 7% year-over-year.

• Structural cost savings initiatives delivered GBP 30 million annualized savings in FY 2026, with GBP 95 million achieved since FY 2024.

• Net debt stood at approximately GBP 15 million at quarter-end, reflecting normal seasonal cash flows.

• FY 2026 pre-exceptional operating profit expected to be in line with consensus despite challenging market conditions.

Financial highlights

• Temp and Contracting volumes decreased by 5% year-on-year; Germany down 9%, UK & Ireland down 8%, ANZ down 6%, Rest of World up 2%.

• Perm net fees decreased by 12%, driven by a 15% decline in volumes, partially offset by a 3% increase in average perm fee.

• GBP 15 million per annum cost savings delivered in Q3; GBP 30 million annualized savings achieved in FY 2026.

• Enterprise Solutions net fees declined 5% year-over-year, impacted by contract losses in North America and Switzerland.

• Net debt position at circa GBP 15 million, reflecting normal seasonal cash flows.

Outlook and guidance

• Near-term perm market conditions expected to remain challenging; temp and contracting expected to show greater resilience.

• Consultant headcount expected to remain broadly stable in Q4, with continued focus on high-performing business lines.

• Further substantial progress in cost reduction anticipated in Q4.

• Continued focus on structural cost reduction to position for market recovery.