Financial press Release

Strong performance in Q3 2015 Continued steady revenue growth with another quarter of good margin expansion

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Strong performance in Q3 2015

Continued steady revenue growth with another quarter of good margin expansion

Third quarter 2015 highlights and outlook

 

  • Revenues up 4% organically[1]
  • Gross margin 19.0%; gross profit up 5% organically
  • SG&A excluding one-offs[2]  up 2% organically
  • EBITA margin excluding one-offs 5.8%, up 40 bps
  • EBITA[3]  excluding one-offs EUR 329 million, up 12% organically
  • Impairment of goodwill of EUR 740 million resulting in operating loss of EUR 425 million; impairment charge is non-cash with no impact on dividend policy
  • 2015 EBITA margin excluding one-time items expected to be strong at approximately 5.2%, but below the target of >5.5%, as organic revenue growth is steady but not accelerating
  • For 2016, Adecco anticipates a continuation of current organic revenue growth trends and an EBITA margin similar to the EBITA margin excluding one-offs now expected in 2015

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