FINANCIALS: Adecco posts positive revenue growth
Recruitment giant Adecco has seen revenue increase 7% year-on-year, according to Q1 2017 results.
The results, published this morning, reveal revenue rose from €5,332m (£4,497m) in Q1 2016 to €5,730m in Q1 2017, with gross profit also up 7% from €1,011m to €1,078m and earnings before interest, taxes, and amortisation (EBITA) up from €228m to €270m over the same period.
Across the group’s regional operations, revenue growth was led by Italy (up 28%) and Benelux and the Nordics (up 11%) year-on-year, while revenue growth was more muted for the group’s North America, UK & Ireland general staffing and professional staffing divisions – up 3% and 2% respectively.
Across the group, Adecco’s medical & science (up 16%) and office (up 13%) divisions were the top performers in terms of year-on-year revenue growth.
Group CEO Alain Dehaze said: “In Q1 2017, every one of our regional business segments delivered positive revenue growth, organically and trading days adjusted. Reflecting our focus on driving productivity, our 6% underlying revenue growth was delivered with an increase of only 1% in FTE employees. And importantly, we converted our strong profit growth into excellent cashflow.”
Dehaze also announced the launch of the digital Adia brand, as part of the organisation’s digital strategy: “Adia is an end-to-end online staffing model targeting hospitality and events candidate profiles for the SME segment.”
Developed in close collaboration with Infosys, “Adia is a great example of our strategy to co-create new solutions with leading technology partners, in order to realise our vision of the future of work”, Dehaze continued.
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