Annual Report 2011

Adecco S.A. (Holding Company) –
Statements of operations
in millions, except share and per share information and compensation table data

For the fiscal years ended December 31 (in CHF)

 

2011

2010

 

 

 

 

Operating income

 

 

 

Royalties and license fees

 

396

430

Dividends from subsidiaries

 

142

23

Release of provisions on loans and investments, net

 

 

37

Interest income from subsidiaries

 

126

88

Interest income from third parties

 

14

15

Financial income

 

 

58

Other income

 

17

14

Total operating income

 

695

665

 

 

 

 

Operating expenses

 

 

 

Interest expense to subsidiaries

 

(255)

(264)

Interest expense to related parties

 

(2)

(3)

Interest expense to third parties

 

(4)

(2)

Charge to provisions on loans and investments, net

 

(230)

 

Taxes

 

(5)

(10)

Financial expense

 

(236)

(164)

Other expenses (including depreciation of CHF 3 in both 2011 and 2010)

 

(105)

(118)

Merger loss and loss on sale of investments

 

 

(38)

Total operating expenses

 

(837)

(599)

 

 

 

 

Net income/(loss)

 

(142)

66