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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 Q2 2016   FY 2016 FY 2017 FY 2018
Revenues 5,716   22,561 22,854 23,585
Organic % chg. 3.8%   2.9% 1.4% 3.2%
Reported % chg. 2.4%   2.5% 1.3% 3.2%
Gross profit 1,074   4,277 4,345 4,485
Gross margin 18.8%   19.0% 19.0% 19.0%
SG&A adjusted1 -788   -3,161 -3,219 -3,317
EBITA adjusted1 286   1,116 1,126 1,168
EBITA margin adjusted1 5.0%   4.9% 4.9% 5.0%
One-offs -1   -1 -8 -2
EBITA 285   1,115 1,118 1,166
Net income attributable adjusted1 195   759 770 810
Net income attributable 187   728 740 780
Basic EPS adjusted1 1.14   4.46 4.51 4.77
Basic EPS 1.09   4.26 4.32 4.59
DPS (CHF) -   2.40 2.45 2.53
Net debt (cash) at EOP -   868 488 113

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

Number of analyst participating for consensus: 16 for Q2 2016; 15 for FY 2016, FY 2017 and FY 2018.

Updated on August 4, 2016

This document has been compiled by Adecco 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 Adecco. Adecco gives no guarantee, representation or warranty and it is not responsible or liable as to its accuracy and/or completeness. Adecco assumes no responsibility to verify or update the information contained on this page. Any opinions, forecasts, estimates, projections or predictions regarding Adecco'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 Adecco. Please note that this consensus does not constitute a solicitation to buy, hold or sell securities. Consensus on Adecco'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. Adecco does not assume any liability for any potential discrepancy.