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Adecco: Another solid quarter in Q2 2015 Dienstag, 11. August 2015 - 07:00

Another solid quarter in Q2 2015

Further margin improvement and a positive outlook for the second half

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.