Adecco warns of partial slowdown in Europe
28 March 2012
International staffing giant Adecco warned of slowing jobs growth in parts of Europe, as the company announced its full-year results for 2011.
Thurs, 1 March 2012
International staffing giant Adecco warned of slowing jobs growth in parts of Europe, as the company announced its full-year results for 2011.
“Within Europe, revenue growth Germany and Austria remained double-digit in January 2012. Most other countries slowed further going into the new year,” the company says in a statement.Commenting on the company’s full-year results, chief executive Patrick De Maeseneire says: “In 2011 we achieved double-digit organic revenue growth for the second consecutive year. General staffing, especially the industrial segment, continued to lead growth, while professional staffing growth remained moderate.”
Key results
Sales grew 3% in the fourth quarter to 5.19bn euros (£4.4bn), a slight slowdown from the 7% constant currency growth seen in the previous quarter and the 17% achieved a year ago.
During the final quarter of 2011 organic revenue growth was 3%. Permanent placement revenues increased 7% in constant currency.
For the full year, EBITA (earnings before interest, tax and amortisation) grew 14% EBITA margin rose to 4.1% before integration costs. The company says it is on target its 5.5% EBITA margin target.
Net income in the fourth quarter fell 5.7 % to 133m euros, slightly beating the 123m euros average forecast in a Reuters poll.
International staffing giant Adecco warned of slowing jobs growth in parts of Europe, as the company announced its full-year results for 2011.
“Within Europe, revenue growth Germany and Austria remained double-digit in January 2012. Most other countries slowed further going into the new year,” the company says in a statement.Commenting on the company’s full-year results, chief executive Patrick De Maeseneire says: “In 2011 we achieved double-digit organic revenue growth for the second consecutive year. General staffing, especially the industrial segment, continued to lead growth, while professional staffing growth remained moderate.”
Key results
Sales grew 3% in the fourth quarter to 5.19bn euros (£4.4bn), a slight slowdown from the 7% constant currency growth seen in the previous quarter and the 17% achieved a year ago.
During the final quarter of 2011 organic revenue growth was 3%. Permanent placement revenues increased 7% in constant currency.
For the full year, EBITA (earnings before interest, tax and amortisation) grew 14% EBITA margin rose to 4.1% before integration costs. The company says it is on target its 5.5% EBITA margin target.
Net income in the fourth quarter fell 5.7 % to 133m euros, slightly beating the 123m euros average forecast in a Reuters poll.
