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Disciplined execution driving strong profitable growth, operational efficiency and deleveraging
AD HOC ANNOUNCEMENT pursuant to Art. 53 Listing Rules of SIX Swiss Exchange
ZURICH, Switzerland, Aug. 6, 2026 /PRNewswire/ — HIGHLIGHTS
- Strong organic revenue growth of +5.6% TDA yoy
- Continued market share gains: Group +160 bps, Adecco +60bps vs key competitors
- Adecco GBU +6.6% yoy: Americas +12%, APAC +10%, and EMEA excl. France +8%
- Akkodis GBU +1% yoy, back to growth; LHH flat yoy, Professional Recruitment Solutions back to growth at +1%
- Gross margin 18.6%, with yoy comparison improving sequentially by 20 bps
- EBITA €165 million excl. one-offs, +21% yoy, consistent profitable growth
- EBITA margin 2.8% excl. one-offs, +30 bps yoy, reflecting strong operating leverage, with productivity +6% yoy and organic drop-down ratio of 64%
- Basic EPS €0.28; Adjusted EPS €0.61 +31%
- LTM cash conversion at 83%, good performance in a period of growth
- Continued deleveraging momentum, with net debt/EBITDA 0.5x lower yoy
Denis Machuel, Adecco Group CEO, commented:
“Our strategy, rigorous execution and client & candidate focus continue to deliver strong performance. Momentum carried through the first half, with a fifth consecutive quarter of growth, at 5.6% year-on-year, and a further 160 basis points of market share gain. Healthy gross margin combined with cost discipline is supporting stronger EBITA. We also continue to deleverage, with net debt to EBITDA ratio 0.5x lower than a year ago.
“Adecco had another excellent quarter, growing at 6.6%, with strong performance across our regions. LHH saw positive signs in permanent placement, with Recruitment Solutions returning to growth. Akkodis is also back to growth, with improving profitability.
“Within Adecco, our accelerated focus on technology-enabled productivity has already delivered our full-year target of 50% revenues being agent-enabled. We are now raising our ambition to 70% coverage by the end of the year.”
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