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Report of the Board of Management

Members of the Board of Management
Strategy
Segmentation analysis
Operational review
Business development
ICT and internet
Legal environment
Corporate social responsibility
Personnel issues and organisational structure
Management outlook
Vedior, where people matter

 

Segmentation analysis

Full year ended 31 December, in millions of euro
 
  2004 2003 Increase/
decrease
Organic  growth

By geography

       
         
Total sales 6,467 5,970 8% 8%
France 2,859 2,782 3% 2%
UK 840 679 24% 19%
USA 495 447 11% 20%
Netherlands 478 486 - 2% - 3%
Rest of Europe 1,273 1, 111 14% 13%
Rest of World 522 465 12% 15%
       

Total operating income 1)

240 174 37%
Special items 2) 23 -    
Operating income 1)
excluding special items
217 174 24% 21%
France 88 78 12%  
UK 53 47 14%  
USA 21 14 55%  
Netherlands 10 11 - 10%  
Rest of Europe 33 15 117%  
Rest of World 23 20 19%  
Corporate expenses - 11 - 11    

By sector

       
         
Total sales 6,467 5,970 8% 8%
Traditional 4,337 4,110 6% 5%
Professional/executive 2,130 1,860 15% 15%
IT 655 572 15% 27%
Healthcare 430 404 7% 6%
Engineering 363 290 25% 22%
Accounting 247 214 15% 18%
Education 113 115 - 2% - 6%
Other 3) 322 265 21% 12%
         

Total operating income 1)

240 174 37%  
Special items 2) 23 -    
Operating income 1)
excluding special items
217 174 24% 21%
Traditional 111 91 22%  
Professional/executive 117 94 25%  
IT 33 25 35%  
Healthcare 30 29 2%  
Engineering 19 13 40%  
Accounting 7 4 115%  
Education 15 16 - 8%  
Other 3) 13 7 101%  
Corporate expenses - 11 - 11    

 



 

Sales versus SG&A

1Q03 = 100

Operating income 4)

Before goodwil amortisation in millions of euro
Sales versus SG&A Operating income

Conversion Ratio

Operating income 4) before goodwill amortisation/Gross profit
Conversion Ratio
1) Before goodwill amortisation.
2) See explanation of special items here.
3) From 2004, Vedior is reporting its sales derived from outplacement and outsourcing activities as part of 'Other'. The comparative numbers have been adjusted accordingly.
4) Excluding special items.

 

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