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Adecco Reports Double-Digit Revenue Growth for 2011

Adecco Group News Release (03/01/12)

Adecco Group today announced results for the full year and the fourth quarter of 2011. Revenues in 2011 were EUR 20.5 billion, an increase of 10% on an organic basis. Permanent placement revenues amounted to EUR 344 million, an increase of 20% in constant currency (+18% organically). Gross profit for 2011 was EUR 3.6 billion, an increase of 7% compared with 2010.

Adecco revenues in the fourth quarter were EUR 5.2 billion, an increase of 4% in EUR and in constant currency compared with Q4 2010. Organically, revenues were up 3%. Permanent placement revenues increased 7% in constant currency to EUR 82 million. Gross profit for the fourth quarter amounted to EUR 930 million, flat compared with the fourth quarter of 2010.

In North America in the fourth quarter of 2011, Adecco generated revenues of EUR 917 million, flat in constant currency compared with Q4 2010. General staffing revenues grew by 2% in constant currency. Professional staffing revenues declined by 2% year-on-year, held back by the information technology staffing business and with the engineering and technical segment comparing against very strong growth in the fourth quarter of 2010.