Fourth quarter 2014 highlights

•  Revenues up 4% year-on-year and up 2% in constant currency

•  Gross margin 18.9%, up 60 bps

•  SG&A excludingrestructuring costs¹ up 2% yoy and up 2% sequentially, both in constant currency

•  EBITA² excludingrestructuring costs EUR 272 million

•  EBITA margin excludingrestructuring costs 5.3%,up 50 bps

•  Strong cash flows from operating activities

Full year 2014 highlights

•  Revenues EUR 20.0 billion, up 3% year-on-year and up 4% in constant currency

•  Gross margin 18.5%, up 20 bps

•  SG&A excludingrestructuring costs up 3% in constant currency

•  EBITA excludingrestructuring costs EUR 965 million

•  EBITA margin excludingrestructuring costs 4.8%, up 40 bps

•  Net income attributable to Adecco shareholders up 14%, basic EPS up 17%

•  Proposed 2014 dividend of CHF 2.10 per share, up 5% compared to last year