The Adecco Group: Q2 22 Results - Market share momentum, solid growth and margin

The Adecco Group

2022/8/5 11:33



ZURICH, August 4, 2022 /PRNewswire=KYODO JBN/ --


AD HOC ANNOUNCEMENT pursuant to Art. 53 Listing Rules of SIX Swiss Exchange




- Revenues +4% yoy organic TDA, up in all 3 GBUs

- Strong performance in Adecco APAC +14%, LHH Recruitment Solutions +12%, and

Akkodis +14%

- Investment plan implemented with agility, driving relative revenue growth

improvement in Adecco of +400 bps sequentially, in addition to +400 bps

improvement in Q1

- Gross profit +7% organic yoy; Permanent Placement fees +38%

- Strong gross margin at 21.1%, +100 bps, driven by portfolio shift, positive

mix and pricing

- Solid EBITA margin excl. one-offs of 3.5%, as anticipated, reflecting

Adecco's investment plan and moderated contribution from LHH

- 100% ownership of AKKA; €20 million synergies secured for 2022, anticipating

year-end run-rate +€40 million

- June exit rate 4% and July volumes modestly above Q2 levels


Denis Machuel, Adecco Group CEO, commented:


"The Group made progress this quarter in several important areas - the Akkodis

integration is fully on track and the combined business delivered healthy

growth, Adecco improved its market share performance and showed some

encouraging signs of turnaround in the US, and the LHH Recruitment Solutions

business and digital ventures including Ezra and Hired continued to perform

strongly. At the same time, it is clear that there is further opportunity for

performance improvement to reach our full potential. In my first month as Group

CEO I have spent considerable time visiting our markets, engaging with our

operations, listening to our clients, and meeting with our people. I am

convinced we have excellent businesses and fantastic people across the

organisation. Identifying the levers and then executing on them to improve

performance is my absolute priority. The Group continues to focus on executing

against its strategy, delivering productivity improvements from the investments

we have made, and growing our market share by being the partner of choice to

our clients and the talent we serve."








2022-invitation-to-results-presentation.pdf/ ]


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SOURCE: The Adecco Group