At the Annual General Meeting, the Board of Directors of Adecco S.A. will propose a dividend of CHF 2.10 per share for 2014, for approval by shareholders. This represents a pay-out ratio of 49% of adjusted net earnings (assuming an exchange rate of EUR/CHF 1.07), in line with the pay-out range of 40-50% of adjusted net earnings. The total amount of the dividend distribution for 2014 is intended to be allocated from Adecco S.A.'s reserve from capital contributions to the free reserves and subsequently distributed to shareholders, and is therefore expected to be exempt from Swiss withholding tax. The dividend will be paid on May 5, 2015 to shareholders on the register as of April 29, 2015.

The company announced consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenues of EUR 5,172 million against EUR 4,983 million a year ago. EBITA was EUR 249 million against EUR 221 million a year ago. Operating income was EUR 239 million against EUR 210 million a year ago. Income before income taxes was EUR 222 million against EUR 188 million a year ago. Net income was EUR 185 million against was EUR 174 million a year ago. Net income attributable to Adecco shareholders was EUR 185 million against EUR 174 million a year ago. Diluted earnings per share were EUR 1.06 against EUR 0.98 a year ago. Cash flows from operating activities were EUR 284 million against EUR 250 million a year ago. Capital expenditures were EUR 25 million against EUR 28 million a year ago. EBITA excluding restructuring costs EUR 272 million.

For the full year, the company reported revenues of EUR 20,000 million against EUR 19,503 million a year ago. EBITA was EUR 928 million against EUR 821 million a year ago. Operating income was EUR 891 million against EUR 779 million a year ago. Income before income taxes was EUR 827 million against EUR 698 million a year ago. Net income was EUR 640 million against was EUR 558 million a year ago. Net income attributable to Adecco shareholders was EUR 638 million against EUR 557 million a year ago, reflecting net income growth and the impact of the share buyback programmes. Diluted earnings per share were EUR 3.61 against EUR 3.08 a year ago. Cash flows from operating activities were EUR 785 million against EUR 520 million a year ago. Capital expenditures were EUR 80 million against EUR 81 million a year ago. EBITA excluding restructuring costs EUR 965 million. Net debt at the end of December 2014 was EUR 975 million.

The company announced that following the divestment of Adecco shares by Jacobs Holding AG, Andreas Jacobs has decided not to stand for re-election to the Board of Directors. The Board of Directors proposed to newly elect Kathleen P. Taylor and Jean-Christophe Deslarzes as members of the Board of Directors. Kathleen P. Taylor is currently Chair of the Board of Royal Bank of Canada and a director of the Canada Pension Plan Investment Board. Ms. Taylor is the former President and Chief Executive Officer of Four Seasons Hotels and Resorts. Jean-Christophe Deslarzes is currently Chief Human Resources Officer and member of the Executive Committee of ABB Group.