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Continuation of growth and strong margin in Q4 2015


Strong operating results in 2015, proposed dividend per share up 14% to CHF 2.40

Zürich, Switzerland, Mar 9, 2016 

Fourth quarter 2015 highlights

  • Revenues up 5% organically [1]
  • Gross margin 19.2%; gross profit up 6% organically
  • SG&A excluding one-offs [2] up 4% organically
  • EBITA excluding one-offs EUR 310 million, up 9% organically
  • EBITA [3] margin excluding one-offs 5.5%, up 20 bps

 

Full year 2015 highlights

  • Revenues EUR 22.0 billion, up 4% organically
  • Gross margin 19.0%, gross profit up 5% organically
  • SG&A excluding one-offs [4] up 3% organically
  • EBITA excluding one-offs EUR 1,147 million
  • EBITA margin excluding one-offs 5.2%, up 40 bps
  • Good cash flow from operating activities and strong balance sheet
  • Proposed 2015 dividend of CHF 2.40 per share, up 14% compared to last year 
     
  • Recommended cash offer of 365p per share for Penna Consulting Plc, one of the leading HR services

    providers in the UK


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

[2] In Q4 2015, one-offs comprised integration costs of EUR 3 million and the write-down of capitalized software of EUR 45 million; in Q4 2014, one-offs comprised restructuring costs of EUR 23 million.

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

[4] In FY 2015, one-offs comprised integration costs of EUR 11 million, contractual obligations related to changes in the Executive Committee of EUR 10 million and the write-down of capitalized software of EUR 45 million; in FY 2014, one-offs comprised restructuring costs of EUR 37 million.

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Lee Hewett

Global Corporate Communications Director

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Q4 2015 Results

Mar 9, 2016