Adecco continues to deliver strong topline growth in Q3 results


Q3 2010 FINANCIAL PERFORMANCE

Revenues

Group revenues in Q3 2010 were up 36% to EUR 5.1 billion compared to Q3 2009. Organically, revenues increased by 17%. Permanent placement revenues amounted to EUR 77 million in Q3 2010, an increase of 83% in constant currency (+35% organically) and outplacement revenues totalled EUR 50 million, a decline of 29% in constant currency.

Gross Profit

The gross margin in Q3 2010 was 17.8%, up 10 bps compared to the prior year’s third quarter, and down 70 bps organically and adjusted. The temporary staffing business had a negative impact of 50 bps on the gross margin in Q3 2010. The same holds true for the outplacement business which also negatively impacted the Group’s gross margin by 50 bps. The permanent placement business positively impacted the gross margin by 20 bps in Q3 2010, while other activities added 10 bps.