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Adecco North America Revenue Up 3% Organically

November 06 2012

Adecco, the world’s largest staffing firm, reported third-quarter North America revenue rose 3 percent on an organic basis to €977.0 million (US$1.26 billion) from the same period last year. Organic growth excludes the impact of currency, acquisitions and divestitures. Without this adjustment, North America revenue rose 15 percent.

North American professional staffing revenue rose 5 percent on an organic basis. IT staffing revenue in North America rose by 6 percent on an organic basis; it was up 8 percent in the U.S. alone. Third-quarter North America permanent placement revenue rose 15 percent on an organic basis.

Adecco reported a €2 million (US$2.6 million) restructuring charge for North America.

Global third-quarter revenue fell 5 percent on an organic basis to  €5.28 billion (US$6.79 billion). In France, Adecco’s largest single market, revenue fell 16 percent on an organic basis to €1.3 billion (US$1.73 billion) in the third quarter.

Lee Hecht Harrison, Adecco’s outplacement division, posted an organic revenue increase of 9 percent to €76.0 million (US$97.7 million).

Adecco’s third-quarter gross margin improved to 17.9 percent from 17.2 percent in the third quarter of last year.

Adecco’s third-quarter net income fell 18 percent to €118.0 million (US$151.7 million).

Adecco SA
For the third quarter ended Sept. 30, 2012, compared with the same period last year.
Revenue: €5.28 billion (US$6.79 billion), +0.2 percent (-5 percent on an organic basis)

Net income: €118.0 million (US$151.7 million), -18 percent

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