Adecco Group News Release (03/11/15)
The Adecco Group reported revenues of €5.2 billion for the fourth quarter of 2014, up 2% in constant currency, and €20 billion for all of fiscal 2014, up 4% in constant currency over 2013. Net income totaled €185 million for the fourth quarter, up 6% year-over-year, and €638 million for the year, up 14% over 2013.
North American revenue totaled €1.1 billion in the fourth quarter, an increase of 6% over 2013. In general staffing, which accounts for approximately half of revenues, industrial was up by 13% and office increased by 5%. In professional staffing, revenues grew by 2%, with growth of 1% in IT, 9% in finance & legal, and 15% in medical & science, while revenues in engineering & technical were down 3%. Permanent placement revenues increased by 12%. For the full year, North American revenues increased by 4%.
Commenting on global markets, Patrick De Maeseneire, chief executive officer of Adecco Group, said “Market conditions in 2014 were rather mixed, but our colleagues showed again that they can adapt well to changing conditions, and delivered another strong performance. With 5.3%, we delivered our best-ever fourth quarter margin. And since GDP growth is forecasted to accelerate in 2015, we expect a further positive development of demand for flexible labor going forward.”
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