The Adecco Group: Q3 2024 RESULTS

Robust performance in challenging markets; volumes stabilising

ZURICH, Nov. 5, 2024 /PRNewswire/ --

Revenues -5% yoy organic TDA, -3% yoy organic, a solid result given market conditions, high comparison base; volumes stabilising

By GBU, Adecco -5%, with good results across Asia, Iberia, EEMENA, LatAm outweighed by challenging markets, particularly in France, US; Akkodis -5%, with Consulting +2%; LHH -7%, with Recruitment Solutions stable qoq

Resilient 19.4% gross margin, sequentially flat, reflecting lower volumes, current business mix, firm pricing

SG&A expenses improved to €925 million, -5% yoy, with G&A -10% yoy and at 3.2% of revenues

Robust 3.3% EBITA margin, reflecting strong G&A savings, selective protection of sales and ...