Second quarter 2015 highlights

  • Revenues up 4% organically[1]

  • Gross margin 18.7%; gross profit up 4% organically

  • SG&A excluding one-offs[2] up 2% organically

  • EBITA[3] excluding one-offs EUR 272 million, up 10% organically

  • EBITA margin excluding one-offs 4.9%, up 30 bps

  • Net income attributable to Adecco shareholders up 22%, basic EPS up 25%

[1] Organic growth is a non-US GAAP measure and excludes the impact of currency, acquisitions and divestitures.

[2] One-offs comprise integration costs of EUR 5 million in Q2 2015, contractual obligations related to the change of CEO and CFO of EUR 10 million in Q2 2015, and restructuring costs of EUR 4 million in Q2 2014.

[3] EBITA is a non-US GAAP measure and refers to operating income before amortisation of intangible assets.