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Corporate presentation

Adecco Group




March 2011 2009
November 5,
Content



   •   Our vision
   •   Our global reach
   •   Our strategy
   •   Our business
   •   Our corporate social responsibility
   •   Our results
   •   Our future perspective




                                             Corporate Presentation
                                                       March 2011
                                                           Slide 2
Our vision




             Corporate Presentation
                       March 2011
                           Slide 3
Our vision



   We inspire individuals and organisations to work more
   effectively and efficiently, and create greater choice in the
   domain of work, for the benefit of all concerned. As the
   world’s leading Human Resources services group – a
   business that has a positive impact on millions of people
   every day – we are conscious of our global role.




                                                          For more information:
                                                  www.adecco.com/AboutAdecco

                                                     Corporate Presentation
                                                               March 2011
                                                                   Slide 4
Our global reach




                   Corporate Presentation
                             March 2011
                                 Slide 5
Our global reach




   Adecco Group operates
   in over 60 countries
   and territories worldwide




We help over 700,000 people find work     The Adecco Group is the world’s leading
every day through our network             provider of HR solutions. The services
of more than 32,000 full-time employees   offered fall into the broad categories of
and over 5,500 offices in                 temporary staffing, permanent placement,
over 60 countries and territories.        outsourcing, consulting and outplacement.

                                                                     Corporate Presentation
                                                                               March 2011
                                                                                   Slide 6
Our strategy




               Corporate Presentation
                         March 2011
                             Slide 7
Adecco Group strategy
Overview of staffing and other HR-related services market




                                                                    For more information:
                                                            www.adecco.com/AboutAdecco

                                                               Corporate Presentation
                                                                         March 2011
                                                                             Slide 8
Adecco Group strategy
Our twofold approach to the market




                                     Corporate Presentation
                                               March 2011
                                                   Slide 9
Our business




               Corporate Presentation
                         March 2011
                            Slide 10
Our business
General staffing: global reach


 • Industrial and office focus           Geographical split of general staffing*
 • Flexible staffing solutions           FY 2010, 75% of total group revenues

 • Serve large global clients and mid-
   sized enterprises                                                     36%   FRANCE
                                                                         13%   NORTH AMERICA
 • Temporary and permanent                                                4%   UK & IRELAND
                                                                          7%   GERMANY & AUSTRIA
   placement                                                              8%   JAPAN
 • Assessment, training and integrated                                    5%   ITALY
                                                                          4%   IBERIA
   human resources solutions                                              4%   NORDICS
                                                                          5%   BENELUX
                                                                          3%   SWITZERLAND
                                                                          2%   AUSTRALIA & NEW ZEALAND
                                                                          9%   EMERGING MARKETS




                                         * Based on dedicated branches


                                                                                Corporate Presentation
                                                                                          March 2011
                                                                                             Slide 11
Our business
General staffing – office: our activities


         Office
        • Administrative / clerical
        • Assistance
        • Customer service
        • Human resources
        • Import/export
        • Project management
        • Purchasing
        • Secretarial / PA
         etc.

         Adecco Office provides associates with
         serial assignments, ensuring continuity
         in the relationship.
         Skills are enhanced through continuous
         learning in challenging projects.




                                                   Corporate Presentation
                                                             March 2011
                                                                Slide 12
Our business
General staffing – industrial: our activities


            Industrial
        •   Assembly
        •   Production
        •   Machine operation
        •   Mechanical trades
        •   Warehousing
        •   Packaging
        •   Shipping and receiving
        •   Bindery and fulfilment
            etc.

            Specialised solutions have been
            developed for:
        •   Aerospace
        •   Automotive
        •   Construction
        •   Transport and logistics
            etc.



                                                Corporate Presentation
                                                          March 2011
                                                             Slide 13
Our business
Professional business: global reach


 • Professional business lines           Geographical split of professional business*
 • High level specialist points of       FY 2010, 25% of total group revenues
   contact
 • Longer-lasting assignments                                              12%    FRANCE
                                                                           39%    NORTH AMERICA
 • Quality placements and services                                         23%    UK & IRELAND
 • Short to long-term projects                                              5%    GERMANY & AUSTRIA
                                                                            4%    JAPAN
 • Secondment, permanent                                                    2%    ITALY
                                                                            3%    IBERIA
   placements, temporary recruitment                                        4%    NORDICS
   solutions, outplacement, consulting                                      3%    BENELUX
                                                                            1%    SWITZERLAND
   and managed solutions                                                    4%    AUSTRALIA & NEW ZEALAND
                                                                         < 0.5%   EMERGING MARKETS




                                         * Based on dedicated branches


                                                                                    Corporate Presentation
                                                                                              March 2011
                                                                                                 Slide 14
Our business
Professional business lines – our activities


         Information Technology
        • Sourcing and deploying highly skilled IT specialists
          in mainstream and niche technologies to meet clients‘
          temporary, permanent and project needs.
        • Serving clients with structured HR solutions such as
          infrastructure management, testing services, recruitment
          process outsourcing, and multi-language help desk.



         Engineering & Technical
        • Providing the appropriate skilled engineers and
          technical specialists for temporary, longer-term
          secondment, and work package-based assignments.
        • Major sectors of expertise including electronics
          automotive and transportation, energy, oil & gas,
          utilities, medical products, aerospace, chemicals &
          raw materials.



                                                                     Corporate Presentation
                                                                               March 2011
                                                                                  Slide 15
Our business
Professional business lines – our activities


         Finance & Legal
        • Serving our clients across commerce and industry,
          financial services, banking, insurance, public practice,
          law firms and corporate law departments
        • Our global network consists of over 200 branch offices
          in 17 countries operating under the following brands:
          Adecco Finance, Ajilon Finance, Ajilon Legal, DIS AG
          Finance, Jonathan Wren and Badenoch & Clark



         Medical & Science
        • Global outsourcing
        • Quality management
        • International Mobility




                                                                     Corporate Presentation
                                                                               March 2011
                                                                                  Slide 16
Our business
Professional business lines – our activities


         Sales, Marketing & Events
        • Serving our clients with temporary assignments,
          recruitment and selection of professionals to fully
          managed teams
        • Specialised in all your B-to-B and B-to-C touch points,
          from call center solutions, promotions, merchandising,
          sales to events


         Human Capital Solutions
        • Restructuring and talent management solutions for
          companies and organisations aiming to optimise their
          human capital
        • Under the global brand name of Lee Hecht Harrison,
          the business line provides consulting services to
          companies and organisations, while helping individuals
          develop their career and leadership potential




                                                                    Corporate Presentation
                                                                              March 2011
                                                                                 Slide 17
Our corporate social responsibility




                                      Corporate Presentation
                                                March 2011
                                                   Slide 18
Adecco corporate social responsibility
Prioritising activities




    Stakeholders                          Global Programmes
       Society                             Excellence
       Clients & shareholders              Excellence Awards
                                           Skills
       Employees
                                           Win4Youth
                                           Integration
                                           IOC/IPC Athlete Career Programme

                                                                  For more information:
                                         www.adecco.com/Corporate social responsibility

                                                             Corporate Presentation
                                                                       March 2011
                                                                          Slide 19
Our results




              Corporate Presentation
                        March 2011
                           Slide 20
Q4 2010 results summary

                                                                                 Reported                                Variance (10 vs. 09) in percent
                                                                                                                       0.0         50.0     100.0      150.0       200.0
                                                            0                         EUR m        % of rev.                 Reported       Adjusted1) organic2)


  Revenues                                                 0                           4,993                                       32
                                                                                                                                 17

  Gross profit                                             0      0.0%                    894       17.9%
                                                                                                                                   35
                                                                                                                              13

  SG&A                                                     0      0.0%                    683       13.7%
                                                                                                                                 19
                                                                                                                             6

           3)
                                                                                          223        4.5%
                                                                                                                                             152
  EBITA before integration costs
                                                                                                                                      51

           3)
                                                           0                              211
                                                                                                                                           139
  EBITA                                                           0.0%                               4.2%
                                                                                                                                      43

  Operating income                                         0                              197
                                                                                                                                           145
                                                                  0.0%                               4.0%


  Net income attributable to                                                                                                                               236
                                                                  0.0%                    141        2.8%
  Adecco shareholders
  1) Adjusted is a non US GAAP measure excluding in Q4 2009, for better comparison, the French business tax of EUR 15 million in costs of services and EUR 1 million in
     SG&A as those business tax components are shown as income tax as of 2010. It also excludes in Q4 2009 the positive impact on gross profit of EUR 14 million due to
     favorable developments in France resulting in the reassessment of existing accruals and the negative impact of EUR 7 million on gross profit due to a sales tax accrual
     in the UK related to prior years, as well as the negative impact on SG&A of EUR 30 million associated with restructuring costs.
  2) Organic growth is a non US GAAP measure and excludes the impact of currency, acquisitions and divestures.
  3) EBITA is a non US GAAP measure and refers to operating income before amortisation of intangible assets.

                                                                                                                                                  Corporate Presentation
                                                                                                                                                               March 2011
                                                                                                                                                                  Slide 21
Revenues and EBITA by geography
Q4 2010 vs. Q4 2009
                                                                                                             Revenues                  EBITA2)
                                                                                                                          organic 1)
                                                                                                                 EUR m   yoy growth         EUR m       margin

                                                       30%         France                                        1,484      19%                  60     4.0%
           Revenues in percent
                                                       19%         North America                                   953      18%                  49     5.1%
                                                         8%        UK & Ireland                                    411       -1%                   4    1.1%
                                                         7%        Japan                                           336       -4%                 17     5.0%

                                                         7%        Germany & Austria                               347      32%                  26     7.4%
                                                         5%        Benelux                                         243      16%                  16     6.4%
                                                         5%        Italy                                           243      35%                  11     4.9%
                                                         4%        Iberia                                          195      11%                    8    4.4%

                                                         4%        Nordics                                         205      23%                  11     5.3%
                                                         2%        Australia & New Zealand                         122      21%                    3    2.9%
                                                         2%        Switzerland                                     114      22%                  16     13.8%
                                                         7%        Emerging Markets                                340      20%                  11     3.3%

                                                                   Corporate                                                                     (21)
                                                                   Adecco Group                                  4,993      17%                  211    4.2%




  1) Organic growth is a non US GAAP measure and excludes the impact of currency, acquisitions and divestures.
  2) EBITA is a non US GAAP measure and refers to operating income before amortisation of intangible assets.


                                                                                                                                             Corporate Presentation
                                                                                                                                                        March 2011
                                                                                                                                                           Slide 22
FY 2010 results summary

                                                                                            Reported                                      Variance (10 vs. 09) in percent
                                                                                                                                        0.0         20.0         40.0         60.0         80.0
                                                                    0                             EUR m          % of rev.                    Reported          Adjusted1) organic2)

                                                                                                                                                             26
  Revenues                                                          0                             18,656                                            12

                                                                                                                                                             26
  Gross profit                                                      0      0.0%                     3,329         17.8%                         6

                                                                                                                                                    11
  SG&A                                                              0      0.0%                     2,607         14.0%
                                                                                                                                            0

                                                                                                                                                                                           142
  EBITA                                                             0      0.0%                       722           3.9%
                                                                                                                                                                  34

  Operating income                                                  0      0.0%                       667           3.6%


  Net income attributable to
                                                                           0.0%                       423           2.3%
  Adecco shareholders



  1) Adjusted is a non US GAAP measure excluding in FY 2009 , for better comparison, the French business tax of EUR 60 million in costs of services and EUR 4 million in SG&A as those business
     tax components are shown as income tax as of 2010. It also excludes in FY 2009 the positive impact on gross profit of EUR 25 million due to favorable developments in France resulting in the
     reassessment of existing accruals and the negative impact of EUR 7 million on gross profit due to a sales tax accrual in the UK related to prior years, as well as the negative impact on SG&A of
     EUR 121 million associated with restructuring costs.
  2) Organic growth is a non US GAAP measure and excludes the impact of currency, acquisitions and divestures.
  3) EBITA is a non US GAAP measure and refers to operating income before amortisation and impairment of goodwill and intangible assets.


                                                                                                                                                                       Corporate Presentation
                                                                                                                                                                                      March 2011
                                                                                                                                                                                         Slide 23
Revenue development by business lines
FY 2010 vs. FY 2009
                                                         Revenues1)                     Revenue growth
                                                         EUR m                         in %, organically


  Office                                                     3,726                               -1
  Industrial                                                 8,971                                                    20

                                                                                                                                             6%
     Information Technology                                  2,071                                           5                       7%
     Engineering & Technical                                   948                                                 17           8%                                   44%
     Finance & Legal                                           699                                        3
     Medical & Science                                         360                                           5
                                                                                                                             15%
     Sales, Marketing & Events                                 357                                       2
     Human Capital Solutions                                   266               -24
                                                                                                                                        20%

  Emerging Markets                                           1,258                                                      23


  Adecco Group                                             18,656                                                12




  1) Breakdown of revenues is based on dedicated branches. The 2010 information includes certain changes in the allocation of branches to business lines. The 2009
     information has been restated to conform to the current year presentation.

                                                                                                                                             Corporate Presentation
                                                                                                                                                           March 2011
                                                                                                                                                              Slide 24
Our future perspective




                         Corporate Presentation
                                   March 2011
                                      Slide 25
Our future perspective
Global trends

                                Governments

                         1. Regulation
                         2. Flexibility imperative
                         3. Job creation


           People                                          Companies
 1. Demographics                                     1. Productivity and flexibility
 2. Skills mismatch
                            Adecco Group
                                                     2. Talent shortage
 3. Lifestyle changes                                3. Changing labour force



                                 Technology

                         1. Job search engines
                         2. e-intermediaries
                         3. eLearning


                                                                Corporate Presentation
                                                                          March 2011
                                                                             Slide 26
Thank you




            Corporate Presentation
                      March 2011
                         Slide 27

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Adecco

  • 2. Content • Our vision • Our global reach • Our strategy • Our business • Our corporate social responsibility • Our results • Our future perspective Corporate Presentation March 2011 Slide 2
  • 3. Our vision Corporate Presentation March 2011 Slide 3
  • 4. Our vision We inspire individuals and organisations to work more effectively and efficiently, and create greater choice in the domain of work, for the benefit of all concerned. As the world’s leading Human Resources services group – a business that has a positive impact on millions of people every day – we are conscious of our global role. For more information: www.adecco.com/AboutAdecco Corporate Presentation March 2011 Slide 4
  • 5. Our global reach Corporate Presentation March 2011 Slide 5
  • 6. Our global reach Adecco Group operates in over 60 countries and territories worldwide We help over 700,000 people find work The Adecco Group is the world’s leading every day through our network provider of HR solutions. The services of more than 32,000 full-time employees offered fall into the broad categories of and over 5,500 offices in temporary staffing, permanent placement, over 60 countries and territories. outsourcing, consulting and outplacement. Corporate Presentation March 2011 Slide 6
  • 7. Our strategy Corporate Presentation March 2011 Slide 7
  • 8. Adecco Group strategy Overview of staffing and other HR-related services market For more information: www.adecco.com/AboutAdecco Corporate Presentation March 2011 Slide 8
  • 9. Adecco Group strategy Our twofold approach to the market Corporate Presentation March 2011 Slide 9
  • 10. Our business Corporate Presentation March 2011 Slide 10
  • 11. Our business General staffing: global reach • Industrial and office focus Geographical split of general staffing* • Flexible staffing solutions FY 2010, 75% of total group revenues • Serve large global clients and mid- sized enterprises 36% FRANCE 13% NORTH AMERICA • Temporary and permanent 4% UK & IRELAND 7% GERMANY & AUSTRIA placement 8% JAPAN • Assessment, training and integrated 5% ITALY 4% IBERIA human resources solutions 4% NORDICS 5% BENELUX 3% SWITZERLAND 2% AUSTRALIA & NEW ZEALAND 9% EMERGING MARKETS * Based on dedicated branches Corporate Presentation March 2011 Slide 11
  • 12. Our business General staffing – office: our activities Office • Administrative / clerical • Assistance • Customer service • Human resources • Import/export • Project management • Purchasing • Secretarial / PA etc. Adecco Office provides associates with serial assignments, ensuring continuity in the relationship. Skills are enhanced through continuous learning in challenging projects. Corporate Presentation March 2011 Slide 12
  • 13. Our business General staffing – industrial: our activities Industrial • Assembly • Production • Machine operation • Mechanical trades • Warehousing • Packaging • Shipping and receiving • Bindery and fulfilment etc. Specialised solutions have been developed for: • Aerospace • Automotive • Construction • Transport and logistics etc. Corporate Presentation March 2011 Slide 13
  • 14. Our business Professional business: global reach • Professional business lines Geographical split of professional business* • High level specialist points of FY 2010, 25% of total group revenues contact • Longer-lasting assignments 12% FRANCE 39% NORTH AMERICA • Quality placements and services 23% UK & IRELAND • Short to long-term projects 5% GERMANY & AUSTRIA 4% JAPAN • Secondment, permanent 2% ITALY 3% IBERIA placements, temporary recruitment 4% NORDICS solutions, outplacement, consulting 3% BENELUX 1% SWITZERLAND and managed solutions 4% AUSTRALIA & NEW ZEALAND < 0.5% EMERGING MARKETS * Based on dedicated branches Corporate Presentation March 2011 Slide 14
  • 15. Our business Professional business lines – our activities Information Technology • Sourcing and deploying highly skilled IT specialists in mainstream and niche technologies to meet clients‘ temporary, permanent and project needs. • Serving clients with structured HR solutions such as infrastructure management, testing services, recruitment process outsourcing, and multi-language help desk. Engineering & Technical • Providing the appropriate skilled engineers and technical specialists for temporary, longer-term secondment, and work package-based assignments. • Major sectors of expertise including electronics automotive and transportation, energy, oil & gas, utilities, medical products, aerospace, chemicals & raw materials. Corporate Presentation March 2011 Slide 15
  • 16. Our business Professional business lines – our activities Finance & Legal • Serving our clients across commerce and industry, financial services, banking, insurance, public practice, law firms and corporate law departments • Our global network consists of over 200 branch offices in 17 countries operating under the following brands: Adecco Finance, Ajilon Finance, Ajilon Legal, DIS AG Finance, Jonathan Wren and Badenoch & Clark Medical & Science • Global outsourcing • Quality management • International Mobility Corporate Presentation March 2011 Slide 16
  • 17. Our business Professional business lines – our activities Sales, Marketing & Events • Serving our clients with temporary assignments, recruitment and selection of professionals to fully managed teams • Specialised in all your B-to-B and B-to-C touch points, from call center solutions, promotions, merchandising, sales to events Human Capital Solutions • Restructuring and talent management solutions for companies and organisations aiming to optimise their human capital • Under the global brand name of Lee Hecht Harrison, the business line provides consulting services to companies and organisations, while helping individuals develop their career and leadership potential Corporate Presentation March 2011 Slide 17
  • 18. Our corporate social responsibility Corporate Presentation March 2011 Slide 18
  • 19. Adecco corporate social responsibility Prioritising activities Stakeholders Global Programmes Society Excellence Clients & shareholders Excellence Awards Skills Employees Win4Youth Integration IOC/IPC Athlete Career Programme For more information: www.adecco.com/Corporate social responsibility Corporate Presentation March 2011 Slide 19
  • 20. Our results Corporate Presentation March 2011 Slide 20
  • 21. Q4 2010 results summary Reported Variance (10 vs. 09) in percent 0.0 50.0 100.0 150.0 200.0 0 EUR m % of rev. Reported Adjusted1) organic2) Revenues 0 4,993 32 17 Gross profit 0 0.0% 894 17.9% 35 13 SG&A 0 0.0% 683 13.7% 19 6 3) 223 4.5% 152 EBITA before integration costs 51 3) 0 211 139 EBITA 0.0% 4.2% 43 Operating income 0 197 145 0.0% 4.0% Net income attributable to 236 0.0% 141 2.8% Adecco shareholders 1) Adjusted is a non US GAAP measure excluding in Q4 2009, for better comparison, the French business tax of EUR 15 million in costs of services and EUR 1 million in SG&A as those business tax components are shown as income tax as of 2010. It also excludes in Q4 2009 the positive impact on gross profit of EUR 14 million due to favorable developments in France resulting in the reassessment of existing accruals and the negative impact of EUR 7 million on gross profit due to a sales tax accrual in the UK related to prior years, as well as the negative impact on SG&A of EUR 30 million associated with restructuring costs. 2) Organic growth is a non US GAAP measure and excludes the impact of currency, acquisitions and divestures. 3) EBITA is a non US GAAP measure and refers to operating income before amortisation of intangible assets. Corporate Presentation March 2011 Slide 21
  • 22. Revenues and EBITA by geography Q4 2010 vs. Q4 2009 Revenues EBITA2) organic 1) EUR m yoy growth EUR m margin 30% France 1,484 19% 60 4.0% Revenues in percent 19% North America 953 18% 49 5.1% 8% UK & Ireland 411 -1% 4 1.1% 7% Japan 336 -4% 17 5.0% 7% Germany & Austria 347 32% 26 7.4% 5% Benelux 243 16% 16 6.4% 5% Italy 243 35% 11 4.9% 4% Iberia 195 11% 8 4.4% 4% Nordics 205 23% 11 5.3% 2% Australia & New Zealand 122 21% 3 2.9% 2% Switzerland 114 22% 16 13.8% 7% Emerging Markets 340 20% 11 3.3% Corporate (21) Adecco Group 4,993 17% 211 4.2% 1) Organic growth is a non US GAAP measure and excludes the impact of currency, acquisitions and divestures. 2) EBITA is a non US GAAP measure and refers to operating income before amortisation of intangible assets. Corporate Presentation March 2011 Slide 22
  • 23. FY 2010 results summary Reported Variance (10 vs. 09) in percent 0.0 20.0 40.0 60.0 80.0 0 EUR m % of rev. Reported Adjusted1) organic2) 26 Revenues 0 18,656 12 26 Gross profit 0 0.0% 3,329 17.8% 6 11 SG&A 0 0.0% 2,607 14.0% 0 142 EBITA 0 0.0% 722 3.9% 34 Operating income 0 0.0% 667 3.6% Net income attributable to 0.0% 423 2.3% Adecco shareholders 1) Adjusted is a non US GAAP measure excluding in FY 2009 , for better comparison, the French business tax of EUR 60 million in costs of services and EUR 4 million in SG&A as those business tax components are shown as income tax as of 2010. It also excludes in FY 2009 the positive impact on gross profit of EUR 25 million due to favorable developments in France resulting in the reassessment of existing accruals and the negative impact of EUR 7 million on gross profit due to a sales tax accrual in the UK related to prior years, as well as the negative impact on SG&A of EUR 121 million associated with restructuring costs. 2) Organic growth is a non US GAAP measure and excludes the impact of currency, acquisitions and divestures. 3) EBITA is a non US GAAP measure and refers to operating income before amortisation and impairment of goodwill and intangible assets. Corporate Presentation March 2011 Slide 23
  • 24. Revenue development by business lines FY 2010 vs. FY 2009 Revenues1) Revenue growth EUR m in %, organically Office 3,726 -1 Industrial 8,971 20 6% Information Technology 2,071 5 7% Engineering & Technical 948 17 8% 44% Finance & Legal 699 3 Medical & Science 360 5 15% Sales, Marketing & Events 357 2 Human Capital Solutions 266 -24 20% Emerging Markets 1,258 23 Adecco Group 18,656 12 1) Breakdown of revenues is based on dedicated branches. The 2010 information includes certain changes in the allocation of branches to business lines. The 2009 information has been restated to conform to the current year presentation. Corporate Presentation March 2011 Slide 24
  • 25. Our future perspective Corporate Presentation March 2011 Slide 25
  • 26. Our future perspective Global trends Governments 1. Regulation 2. Flexibility imperative 3. Job creation People Companies 1. Demographics 1. Productivity and flexibility 2. Skills mismatch Adecco Group 2. Talent shortage 3. Lifestyle changes 3. Changing labour force Technology 1. Job search engines 2. e-intermediaries 3. eLearning Corporate Presentation March 2011 Slide 26
  • 27. Thank you Corporate Presentation March 2011 Slide 27