The company reported strong Q1 17 results. Revenues increased 7.5% to €5.73bn (our estimate: €5.6bn and market €5.68bn). Gross profit increased 6.6% to €1,078m and the gross margin declined from 19% to 18.8%. In the gross margin, negative price effects and product mix were more than offset by a favourable timing in bank holidays. EBIT increased 20.1% to €263m and the EBIT margin improved from 4.1% to 4.6%. Net income also went up by 22.2% from €144m to €176m
09 May 2017
Strong start into 2017!
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Strong start into 2017!
Adecco Group AG (0QNM:LON) | 3,100 0 0.0% | Mkt Cap: 5,221m
- Published:
09 May 2017 -
Author:
Heinz Steffen -
Pages:
2
The company reported strong Q1 17 results. Revenues increased 7.5% to €5.73bn (our estimate: €5.6bn and market €5.68bn). Gross profit increased 6.6% to €1,078m and the gross margin declined from 19% to 18.8%. In the gross margin, negative price effects and product mix were more than offset by a favourable timing in bank holidays. EBIT increased 20.1% to €263m and the EBIT margin improved from 4.1% to 4.6%. Net income also went up by 22.2% from €144m to €176m