Half Year Report 2012

Adecco Group –
Notes to consolidated financial statements (unaudited)
in millions, except share and per share information

Note 11 – Segment reporting

The Company is organised in a geographical structure plus the global business Lee Hecht Harrison (“LHH”), which corresponds to the primary segments. This structure is complemented by business lines. The classification of a specific branch into a business line is determined by the business line generating the largest revenue share in that specific branch.

The Company evaluates the performance of its segments based on operating income before amortisation of intangible assets, which is defined as the amount of income before amortisation of intangible assets, interest expense, other income/(expenses), net, and provision for income taxes. Corporate items consist of certain assets and expenses which are separately managed at the corporate level. Segment assets include current assets, property, equipment, and leasehold improvements, net, other assets, intangible assets, net, and goodwill. The accounting principles used for the segment reporting are those used by the Company.

in EUR

France

North
 America [1]

UK &
 Ireland

Germany
 & Austria

 Japan

 Italy

 Benelux

 Other [1]

 Corporate

Total

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30, 2012

 

 

 

 

 

 

 

 

 

 

Revenues

2,646

1,876

929

786

810

477

452

2,254

 

10,230

Depreciation

(10)

(8)

(3)

(4)

(9)

(2)

(3)

(11)

(4)

(54)

Operating income before
amortisation of intangible assets

68

83

14

43

48

26

15

119

(49)

367

Amortisation of intangible assets

 

 

 

 

 

 

 

 

 

(27)

Operating income

 

 

 

 

 

 

 

 

 

340

Interest expense, and other
income/(expenses), net

 

 

 

 

 

 

 

 

 

(48)

Provision for income taxes

 

 

 

 

 

 

 

 

 

(67)

Net income

 

 

 

 

 

 

 

 

 

225

 

 

 

 

 

 

 

 

 

 

 

Segment assets 

1,673

2,203

771

1,858

423

216

303

1,908

228

9,583

 

 

 

 

 

 

 

 

 

 

 

 

in EUR

France

North
 America [1]

UK &
 Ireland

Germany
 & Austria

 Japan

 Italy

 Benelux

 Other [1]

 Corporate

Total

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30, 2011

 

 

 

 

 

 

 

 

 

 

Revenues

3,004

1,728

817

738

682

520

469

2,123

 

10,081

Depreciation

(9)

(8)

(4)

(4)

(4)

(2)

(3)

(9)

(3)

(46)

Operating income before
amortisation of intangible assets

94

66

15

48

40

34

20

93

(39)

371

Amortisation of intangible assets

 

 

 

 

 

 

 

 

 

(27)

Operating income

 

 

 

 

 

 

 

 

 

344

Interest expense, and other
income/(expenses), net

 

 

 

 

 

 

 

 

 

(43)

Provision for income taxes

 

 

 

 

 

 

 

 

 

(59)

Net income

 

 

 

 

 

 

 

 

 

242

 

 

 

 

 

 

 

 

 

 

 

Segment assets

1,792

1,972

722

1,854

258

219

322

1,533

242

8,914

[1]Since May 1, 2012, Mexico previously included in North America, is reported under Other. The 2011 information has been restated to conform to the current year presentation.