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.