Highlights for Q3 2007
ΠExcluding non recurring items, mainly relating to French social security benefits (see page 5 and media release of 27 July 2007 for further details).
 Excluding profit from the sale of ISU in Q3 2006.
ŽAll growth percentages quoted in this media release have been calculated on an organic basis which excludes the impact of currency effects, acquisitions and disposals.
· 33% increase in permanent placement fees
· Increase in gross margin to 19.1%
· Organic improvement in operating income of 16% with growth achieved in all
industry sectors
- Engineering +47%
- Accounting/Finance +45%
- Healthcare +27%
· Improving UK market
· Strong contribution from Belgium, Spain, Switzerland, Germany and other
European markets as well as Asia Pacific and Latin America
· Acquisition of two US staffing specialists
CEO’s Statement
Tex Gunning said, “Vedior benefited from increased permanent placement income, resulting in improved third quarter profitability. Strong growth was achieved in new markets for these services, such as France, as well as in more established markets like the UK, Australia and the US.
Although the strong market conditions we saw for the first half of 2007 have eased somewhat, our business mix and professional/executive focus contributed to good results overall this quarter.
Amounts in € million Q3 2007 Q3 2007
excl non recurring itemsŒ Q3 2006 Increase Œ Organic Growth ŒŽ
Sales 2 , 2 0 2 .4 2,202.4 2,013.4 +9% +9%
Gross Profit 438.5 421.2 365.9 +15% +12%
Gross Margin 19.9% 19.1% 18.2%
Operating Income 106.5 99.4 82.3 +21% +16%
Operating Margin 4.8% 4.5% 4.1%
Net Income 64.0 60.6 50.1 +21%
Net Income per share (in Euro) 0.37 0.35 0.29 +21%

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