Jacobs Holding AG Annual Report 2010 (PDF, 3.7 - Jacobsag.com

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30 ADECCO SA SMI INDEX ADECCO SA WWW.ADECCO.COM KEY FINANCIAL DATA 31.12.09 31.12.08 31.12.07 31.12.06 31.12.05 CHFM Market cap 9’909 6’232 11’175 15’388 11’278 Share price in CHF 57.05 35.78 61.25 83.25 60.60 Dividend/share in CHF 0.75 1.50 1.50 1.20 1.00 EURM Net sales 14’797 19’965 21’090 20’417 18’303 Gross profit 2’649 3’673 3’927 3’546 3’086 EBITA 299 908 1’054 816 614 Net income 8 495 735 611 453 Cash flows from operating activities 477 1’054 1’062 747 298 SHARE PRICE DEVELOPMENT Between September 2001 and September 2010, Adecco SA underperformed its benchmark, the SMI, by 14.7%. 120% 100% 80% 60% 40% 20% 0% –20% –40% –60% SEP 01 MAR 02 SEP 02 MAR 03 SEP 03 MAR 04 SEP 04 MAR 05 SEP 05 THE COMPANY Adecco SA is the world leader in human-resource solutions, with a comprehensive service offering that includes temporary and contract staffing, outsourcing, permanent recruitment, outplacement and career services, training and consulting. The Adecco Group network connects over 700’000 associates with clients each day through its network of over 31’000 employees (FTEs) and more than 5’500 offices in over 60 countries and territories around the world. Adecco SA is ranked 427 in the Fortune Global 500 list. Adecco SA is registered in Switzerland (ISIN: CH0012138605) and listed on the Swiss Stock Exchange with trading on SWX Europe (SWX: ADEN) and the Euronext Paris (EURONEXT: ADE). BACK TO TOP MAR 06 SEP 06 MAR 07 SEP 07 MAR 08 SEP 08 MAR 09 SEP 09 MAR 10 SEP 10
PERFORMANCE FOR FINANCIAL YEAR 2009 The Adecco Group was confronted with an exceptionally challenging business environment. Revenues decreased in 2009 compared to 2008 by 26% to EUR 14’797m or by 27% excluding acquisitions and currency impact. Revenues declined in 2009 by doubledigit percentages in all geographies except in the emerging markets. PERFORMANCE DURING THE FIRST HALF OF FINANCIAL YEAR 2010 Revenues for the first six months of 2010 were EUR 8’608m. Compared to the same period last year, revenues increased by 18%, or 16% in constant currency. Acquisitions, chiefly of the MPS Group, made up 10% of revenues. EBITA increased from EUR 75m to EUR 281m, net income from EUR -124m to EUR 154m. Patrick De Maeseneire, CEO of the Adecco Group, notes: “Business conditions in Q2 2010 improved considerably. We delivered strong growth in our main markets of France and North America. Germany, Italy, the Nordic countries and emerging markets posted strong double-digit revenue growth as well. Demand was particularly strong in the industrial segment, but our professional staffing business also returned to growth in the second quarter. We achieved a gross margin of 17.8%, thanks to continued strict price discipline and our increased exposure to professional staffing. Costs were tightly controlled and remained flat, both organically and adjusted. As a result, we achieved an EBITA margin of 3.8%, an im prove ment of 100 bps compared to the previous year adjusted. To date, we see no evidence of a slowdown in our business and demand is robust across most markets.” OUTLOOK The revenue trend improved strongly throughout the second quarter of 2010, and there is no slowdown in the third quarter of 2010. Despite current concerns about the sustainability of the economic recovery, developments in the staffing industry continue to signal healthy demand, and management is confident of strong revenue development near term. The acquired businesses, Spring and MPS, are delivering results exceeding expectations and the integration and achievement of targeted synergies are well on track. The good results attained in the third quarter of this year show that the Adecco Group is delivering on its strategy and is making sound progress towards achieving its mid-term EBITA margin target of above 5.5%. BACK TO TOP 31
Page 1 and 2: JACOBS HOLDING AG ANNUAL REPORT 201
Page 3 and 4: ANNUAL REPORT 2010 HOLDING AG
Page 5: THE JACOBS FOUNDATION HISTORY The J
Page 8 and 9: TOTAL SHAREHOLDER RETURN INDEX (TSR
Page 10 and 11: 8 IN OCTOBER 2009 BC joined the UTZ
Page 13 and 14: STAKEHOLDERS’ MANUAL 11
Page 15 and 16: OUR CORPORATE PRINCIPLES LONG-TERM
Page 17 and 18: OUR GOVERNANCE STRUCTURE BOARD OF D
Page 19: The financing of the investment poo
Page 22: W. ANDREAS JACOBS 20 W. ANDREAS JAC
Page 26 and 27: MARKUS FIECHTER DANIEL PFISTER 24 M
Page 28 and 29: JOHAN FAHLÉN THOMAS HAGMANN 26 JOH
Page 31: PORTFOLIO 29
Page 35 and 36: JACOBS VENTURE AG THE COMPANY Jacob
Page 37 and 38: Kraft Foods are a result of the com
Page 39 and 40: INFRONT SPORTS & MEDIA AG WWW.INFRO
Page 41 and 42: OUTLOOK The sports industry continu
Page 45 and 46: FINANCIAL STATEMENTS 2010 43
Page 47 and 48: CHF 2010 LIABILITIES AND SHAREHOLDE
Page 49: © 2010 JACOBS HOLDING AG ALL RIGHT

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