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Another quarter of strong EBITA margin expansion

Further gross margin improvement and continued good cost control


Zürich, Switzerland, May 7, 2015 

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.

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