{"id":6427,"date":"2022-02-24T05:47:00","date_gmt":"2022-02-24T05:47:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3671446_AE71446_0"},"modified":"2022-02-24T05:47:00","modified_gmt":"2022-02-24T05:47:00","slug":"q4-fy21-results","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=6427","title":{"rendered":"Q4 &amp; FY21 Results"},"content":{"rendered":"<table name=\"logo_release\" border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/1197818\/The_Adecco_Group_Logo.jpg?p=medium600\" border=\"0\" alt title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b><b>Revenue momentum accelerates, margins strong<\/b><\/b><\/p>\n<p><b><b>AD HOC ANNOUNCEMENT<\/b>&nbsp;<b>pursuant to Art. 53 Listing Rules of SIX Swiss Exchange<\/b><\/b><\/p>\n<p><span class=\"xn-location\">ZURICH<\/span>, <span class=\"xn-chron\">Feb. 24, 2022<\/span> \/PRNewswire\/ &#8212;<\/p>\n<p><b>Q4 HIGHLIGHTS<\/b><\/p>\n<ul type=\"disc\">\n<li>Revenues +3% sequentially, +1%&nbsp;yoy organic TDA<sup>1<\/sup>, led by Modis +14% <\/li>\n<li>Gross profit +7%&nbsp;organic yoy; led by Adecco +7% and LHH&#8217;s Recruitment Solutions +c.35% <\/li>\n<li>20.7% gross profit margin driven by portfolio, favourable mix and pricing <\/li>\n<li>EBITA excluding one-offs<sup>2<\/sup> \u20ac259 million; 4.7% margin, reflecting cost discipline while investing in growth <\/li>\n<li>Operating income \u20ac191 million; Net Income \u20ac184 million; Basic EPS \u20ac1.11, up 21% yoy<\/li>\n<\/ul>\n<p><b>FULL YEAR HIGHLIGHTS<\/b><\/p>\n<ul type=\"disc\">\n<li>Revenues +9% yoy organic TDA<sup>1<\/sup>; Gross profit +15% organic yoy <\/li>\n<li>Leading gross profit margin of 20.4%, driven by portfolio, favourable mix and pricing <\/li>\n<li>EBITA excluding one-offs<sup>2<\/sup> \u20ac953 million; 4.6% margin sector-leading <\/li>\n<li>Operating income \u20ac780 million; Net Income \u20ac586 million; Basic EPS \u20ac3.62 <\/li>\n<li>Cash flow from operating activities \u20ac722 million; cash conversion 83% <\/li>\n<li>Good strategic delivery: GBU organisation put in place; AKKA acquisition announced; LHH re-brand underway <\/li>\n<li>Acquisition of majority stake in AKKA completed; good line of sight on \u20ac15 million 2022 EBITA synergies <\/li>\n<li>Proposed dividend per share <span class=\"xn-money\">CHF 2.50<\/span>, composed of <span class=\"xn-money\">CHF 1.25<\/span> gross plus <span class=\"xn-money\">CHF 1.25<\/span> from reserves not subject to withholding tax<\/li>\n<\/ul>\n<p><b>Alain Dehaze, Adecco Group CEO, commented:<\/b> &#8220;Good progress has been made in the first year of implementation of our Future@Work strategy. We have established all three GBUs as Global Leaders, and accelerated our pivot to higher value services, as evidenced by this year&#8217;s record gross margin level. At the GBU level, Modis delivered outstanding performance in 2021, with strong top line growth and margin uplift, providing a strong foundation for the upcoming integration of AKKA. In LHH, Recruitment Solutions excelled, taking market share in permanent recruitment, while Career Transition navigated lower demand for their services.&nbsp;Adecco delivered sector-leading profitability through 2021, while continued investment supported improved sequential revenue momentum in the last quarter. Looking ahead, while recognising ongoing pandemic related challenges, we expect healthy demand for the Group&#8217;s services in 2022, and are investing to accelerate sustainable, profitable growth.&#8221;<\/p>\n<p><b><u><a target=\"_blank\" href=\"https:\/\/mma.prnewswire.com\/media\/1753090\/Adecco_Group_Q421_Results.pdf\" rel=\"nofollow noopener\">FULL&nbsp; PRESS RELEASE<\/a><\/u><\/b><\/p>\n<p>The Adecco Group, Investor Relations, +41 (0)44 878 88 88<\/p>\n<p>Unless otherwise noted, all growth rates in this release refer to same period in prior year. <br \/>[1] On an organic and trading days adjusted basis. <br \/>[2] &nbsp;For further details on the use of non-GAAP measures in this release, refer to the Financial Information section and the Additional Information Section of the 2020 Annual Report. <\/p>\n<p>PDF &#8211; <a target=\"_blank\" href=\"https:\/\/mma.prnewswire.com\/media\/1753090\/Adecco_Group_Q421_Results.pdf\" rel=\"nofollow noopener\">https:\/\/mma.prnewswire.com\/media\/1753090\/Adecco_Group_Q421_Results.pdf<\/a>&nbsp;&nbsp; <br \/>Logo &#8211;&nbsp;<a target=\"_blank\" href=\"https:\/\/mma.prnasia.com\/media2\/1197818\/The_Adecco_Group_Logo.jpg?p=medium600\" rel=\"nofollow noopener\">https:\/\/mma.prnasia.com\/media2\/1197818\/The_Adecco_Group_Logo.jpg?p=medium600<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Revenue momentum accelerates, margins strong AD HOC ANNOUNCEMENT&nbsp;pursuant to Art. 53 Listing Rules of SIX Swiss Exchange ZURICH, Feb. 24, 2022 \/PRNewswire\/ &#8212; Q4 HIGHLIGHTS Revenues +3% sequentially, +1%&nbsp;yoy organic TDA1, led by Modis +14% Gross profit +7%&nbsp;organic yoy; led by Adecco +7% and LHH&#8217;s Recruitment Solutions +c.35% 20.7% gross profit margin driven by portfolio, [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":6428,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-6427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Q4 &amp; 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