Adecco delivers record Q4 profitability with a 5.3% margin
March 11, 2015Adecco delivers record Q4 profitability with a 5.3% margin
Revenue growth into Q1 2015 shows improving trend
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