Annual Report 2014
Key figures
Historical data
for the fiscal years in EUR millions (except share and per share information) | 2014 | 2013 | 2012 | 2011 | 2010 |
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Statement of operations data | |||||
Revenues | 20,000 | 19,503 | 20,536 | 20,545 | 18,656 |
Gross profit | 3,703 | 3,560 | 3,674 | 3,566 | 3,329 |
EBITA excluding restructuring and integration costs [1], [2] | 965 | 854 | 813 | 834 | 755 |
EBITA | 928 | 821 | 725 | 814 | 722 |
Net income attributable to Adecco shareholders | 638 | 557 | 377 | 519 | 423 |
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Other financial indicators | |||||
Cash flow from operating activities | 785 | 520 | 579 | 524 | 455 |
Free cash flow [3] | 705 | 439 | 491 | 415 | 350 |
Net debt (year end) [4] | 975 | 1,096 | 972 | 892 | 751 |
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Key ratios (as % of revenues) | |||||
Gross margin | 18.5% | 18.3% | 17.9% | 17.4% | 17.8% |
SG&A ratio [5] | 13.9% | 14.0% | 14.4% | 13.4% | 14.0% |
EBITA margin excluding restructuring and integration costs | 4.8% | 4.4% | 4.0% | 4.1% | 4.0% |
EBITA margin | 4.6% | 4.2% | 3.5% | 4.0% | 3.9% |
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Per share figures | |||||
Basic EPS in EUR | 3.62 | 3.09 | 2.00 | 2.72 | 2.20 |
Diluted EPS in EUR | 3.61 | 3.08 | 2.00 | 2.72 | 2.17 |
Cash dividend in CHF [7] | 2.10 [6] | 2.00 | 1.80 | 1.80 | 1.10 |
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Number of shares | |||||
Basic weighted-average shares | 176,267,821 | 180,511,706 | 188,393,511 | 190,671,723 | 192,113,079 |
Diluted weighted-average shares | 176,589,179 | 180,781,433 | 188,555,377 | 190,805,080 | 195,596,325 |
Outstanding (year end) | 173,448,569 | 178,138,000 | 184,609,768 | 170,448,401 | 174,702,026 |
[1]EBITA is a non-U.S. GAAP measure and is defined herein as operating income before amortisation of intangible assets.
[2]Excluding restructuring and integration costs: EUR 37 million in 2014, EUR 33 million in 2013, EUR 88 million in 2012, EUR 20 million in 2011, and EUR 33 million in 2010.
[3]Free cash flow is a non-U.S. GAAP measure and is defined herein as cash flow from operating activities minus capital expenditures.
[4]Net debt is a non-U.S. GAAP measure and comprises short- and long-term debt, less cash and cash equivalents and short-term investments.
[5]Excluding amortisation of intangible assets.
[6]Proposed by the Board of Directors.
[7]Paid in the following year.