Adecco further accelerates organic revenue growth and increases net income by 35% in Q2 2006

Q2 Highlights (Q2 06 vs. Q2 05)

- Revenues of EUR 5.1 billion, up 13% (10% organically[1])

- Professional[2] revenues up 19% (11% organically), Office and Industrial 11% (9% organically)

- Gross margin improvement of 50 bps to 17.2%

- Operating income of EUR 202 million up 29% (24% organically)

- Operating margin improvement of 50 bps to 3.9%

- Net income of EUR 135 million, up 35%

The Adecco Group today announced results for the second quarter 2006. For the period April to June 2006 net income increased by 35% to EUR 135 million compared to EUR 100 million a year earlier. Revenues were up 13% to EUR 5.1 billion from EUR 4.5 billion in the same period last year.

Klaus J. Jacobs, Chairman, Adecco Group said: I am pleased with the continued good performance of Adecco in the second quarter. We grew revenues 10% organically with encouraging profitability improvements.

Dieter Scheiff, Chief Executive Officer, Adecco Group commented: I see high structural growth potential in the global human resources market, particularly in the area of professional staffing. With the strategy introduced at the beginning of the year, I feel that we are well positioned to capitalise upon this opportunity thereby reaching our long-term goals of 7 to 9% annual revenue growth as well as an operating margin of over 5% by 2009.

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