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Broker Consensus | Adecco Group - Better work, better life


Broker consensus

On a regular basis, the analysts listed under 'Broker coverage' are asked to provide to Adecco their financial forecasts. Adecco aggregates these forecasts and compiles a "consensus" using the average of the forecasts received. This consensus is shown below.

EUR millions Q3 2016   FY 2016 FY 2017 FY 2018
Revenues 5,787   22,532 22,688 23,293
Organic % chg. 2.9%   3.3% 0.7% 2.7%
Reported % chg. 2.0%   2.4% 0.7% 2.7%
Gross profit 1,092   4,262 4,280 4,384
Gross margin 18.9%   18.9% 18.9% 18.8%
SG&A adjusted1 -777   -3,151 -3,203 -3,269
EBITA adjusted1 315   1,111 1,077 1,115
EBITA margin adjusted1 5.4%   4.9% 4.7% 4.8%
One-offs -1   -1 0 0
EBITA 314   1,110 1,077 1,115
Net income attributable adjusted1 217   758 739 775
Net income attributable 209   726 710 744
Basic EPS adjusted1 1.27   4.47 4.38 4.58
Basic EPS 1.23   4.27 4.16 4.35
DPS (CHF) -   2.41 2.45 2.48
Net debt (cash) at EOP -   839 478 134

1Excluding one-offs and amortisation and impairment of goodwill and intangible assets

Number of analyst participating for consensus: 19 for Q3 2016 and FY 2016; 17 for FY 2017 and FY 2018.

Updated on October 31, 2016

This document has been compiled by the Adecco Group for information purposes only and it is not intended to constitute an investment or any other kind of advice. This document is based on estimates and forecasts of various analysts regarding revenues, earnings and other business developments of the Adecco Group. The Adecco Group gives no guarantee, representation or warranty and it is not responsible or liable as to its accuracy and/or completeness. The Adecco Group assumes no responsibility to verify or update the information contained on this page. Any opinions, forecasts, estimates, projections or predictions regarding the Adecco Group's performance made by the analysts who have contributed are exclusively theirs and they do not represent the opinions, forecasts, estimates, projections or predictions of the Adecco Group. Please note that this consensus does not constitute a solicitation to buy, hold or sell securities. Consensus on the Adecco Group's financial results is also available from other sources, such as Bloomberg and Thomson Reuters and they could differ from what is reported above due to the different analysts involved, timing at which the data is collected and/or other reasons. The Adecco Group does not assume any liability for any potential discrepancy.