Adecco Group: Steady trends in Q3 2016; Revenue momentum and cost discipline continue Dienstag, 08. November 2016 - 07:00

Third quarter 2016 highlights

• Revenues up 3% organically^[1]
• Gross margin down 20 bps to 18.7%
• EBITA^[2] excluding one-offs^[3] EUR 320 million
• EBITA margin excluding one-offs 5.5%, down 30 bps
• Revenues in September up 4%, organically and adjusted for trading days
• DSO down 1 day to 52 days; net debt^[4] to EBITDA ratio^[5] 1.0x

To read the full press release click here: Press Release (PDF)

[1] Organic growth is a non-US GAAP measure and excludes the impact of currency, acquisitions and divestitures
[2] EBITA is a non-US GAAP measure and refers to operating income before amortisation and impairment of goodwill and intangible assets.
[3] One-offs comprise restructuring costs of EUR 23 million and integration costs of EUR 3 million in Q3 2016, and integration costs of EUR 3 million in Q3 2015.
[4] 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.

[5] Net debt to EBITDA ratio is calculated as net debt at September 30, 2016 divided by last 4 quarters of EBITDA excluding one-offs.