First quarter 2015 highlights
• Revenues up 4% year-on-year in constant currency.
• Gross margin 19.1%, up 50 bps.
• SG&A up 1% in constant currency and excluding prior year restructuring costs [1].
• EBITA[2] EUR 236 million, up 21% in constant currency and excluding prior year restructuring costs.
• EBITA margin 4.6%, up 60 bps excluding prior year restructuring costs.
• Net income attributable to Adecco shareholders up 45%, basic EPS up 49%.
• Alain Dehaze will succeed Patrick De Maeseneire as Group CEO from September 1, 2015; Group CFO Dominik de Daniel has decided to leave Adecco.
[1] Restructuring costs were EUR 5 million in Q1 2014.
[2] EBITA is a non-US GAAP measure and refers to operating income before amortisation of intangible assets.