Revenue Growth and Market Share Gains
The Adecco Group delivered EUR 5.8 billion in revenues, a 3.4% year-on-year increase on an organic trading days adjusted basis. The group gained significant market share, with the group and Adecco leading key competitors by 375 and 300 basis points, respectively.
Strong U.S. Performance
Adecco U.S. reported a remarkable 20% year-on-year revenue increase, demonstrating significant progress in its turnaround plan.
Cash Flow and Operating Leverage
Cash conversion was strong at 110%, with the group generating a solid operating cash flow of EUR 200 million, up EUR 79 million from the prior year period. Productivity increased by 8% year-on-year.
G&A Savings and EBITA Margin Improvement
The group achieved EUR 174 million in G&A savings, with the EBITA margin improving to 3.4%, evidencing good operating leverage.
Training and Upskilling Growth
Training, upskilling, and reskilling services saw underlying growth of 28%, with EZRA and General Assembly reporting outstanding growth of 59% and 48%, respectively.