Adecco omzet Q1 2012: + 2%


Logo Adecco

8 mei 2012

De omzet van Adecco groeide in het eerste kwartaal met 2 % tot ruim 5 miljard euro, terwijl de winst met 12 % steeg tot 112 miljoen euro.

• Revenues of EUR 5.0 billion, up 2%
• Gross margin at 18.2%, up 80 bps year-on-year and up 30 bps sequentially (Q1 12 vs. Q4 11)
• SG&A flat sequentially, on an organic basis and before integration and restructuring costs
• EBITA before integration and restructuring costs at EUR 193 million (+9% in constant currency)
• EBITA margin at 3.8%, up 20 bps year-on-year before integration and restructuring costs
• Net income of EUR 112 million, up 12%
• Strong operating cash flow of EUR 137 million (EUR 22 million in Q1 2011)

De Maeseneire
Patrick De Maeseneire: “We are off to a good start in 2012. Q1 2012 revenues are nearly at the same level as in Q1 2011, a solid result when considering the economic headwinds we face in Europe. Our revenue growth in North America continued to hold up well. Profitability continues to be a clear priority for us in France. Given the economic outlook for France we are convinced that we are taking the right measures to ensure sustainable and leading profitability. In Germany & Austria we are gaining market share at good margins. The Emerging Markets also continued their solid growth path. On the other hand, Southern Europe is clearly slowing: revenues in both Italy and Iberia were in decline in Q1 2012. The business mix is starting to work in our favour. Growth in professional staffing is outpacing general staffing and our gross margin is moving in the right direction, up 80 bps in Q1 2012 at 18.2%. Once again, we maintained SG&A sequentially flat on an organic basis and before one-off costs. This led to solid EBITA growth of 9% before one-off costs and in constant currency and an EBITA margin of 3.8%, up 20 bps compared to last year’s Q1. We anticipate a similarly diverging picture geographically for the second quarter with North America holding up, but Europe remaining challenging. Our aim is clear: continued price discipline and tight cost control, while maintaining our focus on profitable organic growth opportunities. This keeps us well on track to reach our EBITA margin target of over 5.5% midterm.”

Adecco stelt dat Europa een “uitdagende” markt zal blijven. Frankrijk, de belangrijkste markt van Adecco, presteerde duidelijk minder. Adecco haalt hier 25 % van haar omzet vandaan, maar de inkomsten daalden 10 % vergeleken met vorig jaar. Ook in de zuidelijke landen als Spanje is er duidelijk sprake van vertraging. In Spanje bleek de omzet 9 % gedaald te zijn, terwijl Italië 2 % terugviel. In Duitsland en Oostenrijk was de omzet 10 % hoger in het eerste kwartaal. In het Verenigd Koninkrijk en Ierland was de omzet 9 % hoger. De omzet in de Benelux groeide met 4 %.

De omzet in Noord-Amerika lag 1 % hoger dan dezelfde periode vorig jaar.

Bron: Adecco, 7 mei 2012