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STRONG MARGIN AND CONTINUED GROWTH IN Q2 2017
The Adecco Group today announced its Q2 financial results and presented insights into global labour market trends.
Putting the strategy into action and delivering excellent productivity and
cash conversion
Highlights
- Revenue growth momentum maintained at 6% organically and trading days adjusted
- Q2 EBITA margin 4.8%, negatively impacted by the timing of bank holidays; H1 EBITA margin up 20 bps while investing for the future
- Strong productivity continues, with FTE employees up only 1% and SG&A excluding one-offs up 2%, both organically
- Net income attributable to Adecco Group shareholders EUR 192 million
- Excellent cash conversion and strong balance sheet, with 0.8x net debt to EBITDA excluding one-offs
- Further progress on digital strategy, including a new global partnership with Mya Systems, a leading artificial intelligence (AI) player in HR technology
- Revenues in June 2017 up 6%, organically and trading days adjusted
The Adecco Group CEO Alain Dehaze provides the company highlights and outlook as
Organic growth is a non-US GAAP measure and excludes the impact of currency, acquisitions and divestitures.
EBITA is a non-US GAAP measure and refers to operating income before amortisation and impairment of goodwill and intangible assets
In Q2 2016, SG&A included one-offs of EUR 2 million.
Net debt is a non-US GAAP measure and comprises short-term and long-term debt less cash and cash equivalents and short-term investments.
Net debt to EBITDA excluding one-offs is a non-US GAAP measure and is calculated as net debt at period end divided by the last 4 quarters of EBITA excluding one-offs plus depreciation.
- Soundbites of The Adecco Group CEO Alain Dehaze on the financial results and his perspectives
- in English
- Q: Alain Dehaze, this is a positive result - are you satisfied with the performance?
- Q: Alain Dehaze, where do you see the future areas of growth coming from?
- in French
- Q: Alain Dehaze, c’est un résultat positif. Êtes-vous satisfait de cette performance?
- Q: Alain Dehaze, quelles sont, pour vous, les secteurs de croissance de demain?
- in German
- F: Alain Dehaze, das ist ein positives Ergebnis. Sind Sie zufrieden mit der Performance?
- F: Alain Dehaze, wo sehen Sie die Wachstumsbereiche der Zukunft?
- in English
- GVs of The Adecco Group’s new Headquarter at Bellerivestrasse 30 in Zurich
- GVs of The Adecco Group CEO Alain Dehaze
- GVs of Mya Chatbot
The Adecco Group is the world’s leading provider of workforce solutions, transforming the world of work through talent and technology. Each year, The Adecco Group provides over 1 million people around the world with career opportunities, guidance and insights. Through its global brands Adecco, Modis, Badenoch & Clark, Spring Professional, Lee Hecht Harrison and Pontoon, The Adecco Group offers total workforce solutions including temporary staffing, permanent placement, career transition, talent development, and outsourcing. The Adecco Group partners with employers, candidates, colleagues and governments, sharing its labour market expertise and insights to empower people, fuel economies, and enrich societies.
The Adecco Group is a Fortune Global 500 company, based in Zurich, Switzerland, with more than 33,000 FTE employees in 60 countries and territories around the world. Adecco Group AG is registered in Switzerland
(ISIN: CH0012138605) and listed on the SIX Swiss Exchange (ADEN)
9 August 2017
