The Adecco Group: Q2 22 Results - Market share momentum, solid growth and margin
PR97337
ZURICH, August 4, 2022 /PRNewswire=KYODO JBN/ --
AD HOC ANNOUNCEMENT pursuant to Art. 53 Listing Rules of SIX Swiss Exchange
HIGHLIGHTS
- 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."
FULL PRESS RELEASE
[https://www.adeccogroup.com/our-group/media/press-releases/?tags=INVESTORS%20AD
HOC%20PUBLICATION ]
CONFERENCE CALL DETAILS
[https://www.adecco-jobs.com/-/media/project/adeccogroup/pdf-files/2022-july/q2-
2022-invitation-to-results-presentation.pdf/ ]
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SOURCE: The Adecco Group
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