Adecco’s omzet is vorig jaar 4% gedaald vergeleken met 2011. De teruglopende markt in Frankrijk, Italië en Spanje is daar vooral debet aan.
In Engeland en Ierland bleef de omzet min of meer hetzelfde. Ook in Duitsland en Oostenrijk was sprake van lichte organische groei. Adecco meldt een stabiele groei in de VS.
De nettowinst bedroeg 377 miljoen euro, tegen 519 miljoen euro in 2011.
Het bedrijfsresultaat (ebita) daalde met 11% naar 725 miljoen euro.
Full-year 2012 highlights
• Revenues of EUR 20.5 billion, flat year-on-year (-4% organically)
• Strong gross margin increase to 17.9%, up 50 bps year-on-year (+30 bps organically)
• SG&A down 1% year-on-year, organically and excluding EUR 88 million restructuring and integration costs2
• EBITA3 at EUR 813 million excluding restructuring and integration costs
• Resilient EBITA margin, despite revenue decline, at 4.0%, down 10 bps compared to last year, excluding restructuring and integration costs
• Net income attributable to Adecco shareholders of EUR 377 million
• Strong operating cash flow of EUR 579 million, up 10% (EUR 524 million in 2011)
• Proposed 2012 dividend of CHF 1.80 per share, equal to the dividend paid for 2011
• Enhanced dividend policy to commit at least to a stable dividend versus the prior year, even if the pay-out range of 40-50% is temporarily exceeded
• Mid-term EBITA margin target of above 5.5% achievable in 2015
Fourth quarter 2012 highlights
• Revenues of EUR 5.0 billion, down 3% year-on-year (-6% organically)
• Gross margin at 17.8%, down 10 bps year-on-year
• SG&A down 3% year-on-year, organically and excluding restructuring and integration costs (-1% sequentially)
• EBITA at EUR 194 million, excluding EUR 46 million restructuring costs
• EBITA margin at 3.9%, down 50 bps year-on-year, excluding restructuring and integration costs
CEO Patrick De Maeseneire:
“In 2012 we faced diverse trends among the regions in which we operate. Most of Europe was challenging and we faced double-digit revenue declines in France, Italy and Iberia. Exceptions were the UK & Ireland, where revenues grew 6% in constant currency and we continued to gain market share in Germany & Austria where revenues increased 1% organically. We achieved solid results in North America, where organic revenue growth picked up throughout the year. Also the Emerging Markets continued to grow in double-digits. Our gross margin improved strongly in 2012 as we maintained strict price discipline and profited from a better business and country mix. This, together with our continued focus on cost control, enabled us to protect profitability and achieve an EBITA margin, before restructuring and integration costs, of 4.0%, only 10 bps lower than in 2011. Our operating cash flow was up 10% in 2012 and we have a very healthy balance sheet. The proposed stable dividend for 2012 reflects our strong financial position, our ability to generate strong operating cash flow and the focus on organic growth. As a result, going forward the Group is committed to pay at least a stable dividend versus the prior year. We continue to be very focused on reaching our mid-term EBITA margin target of above 5.5%. Based on the good progress on our six strategic priorities and more favourable economic conditions expected towards the end of 2013, we are convinced we will achieve this target in 2015.”