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

Strong share gains, good growth and improved profit margin

ZURICH, Nov. 6, 2025 --

 

HIGHLIGHTS

• Further strong market share gains, Group +375 bps and Adecco +300 bps
• Group revenues +3.4% yoy, and +3.0% qoq, with all GBUs improving sequentially
• Adecco GBU revenues +4.5% yoy; Europe returned to growth; Americas +20% yoy, APAC +9% yoy
• Akkodis GBU revenues -3% yoy; German turnaround progressing well
• LHH GBU revenues +4% yoy, led by CT +9% yoy, Ezra +59% yoy
• Healthy 19.2% gross margin, -10 bps yoy organic, and +30 bps sequentially, reflecting business mix, firm pricing
• Solid 3.4% EBITA margin excl. one-offs, +10 bps yoy, reflecting good operating leverage, with productivity +8% yoy
• Operating income €160 million, +2% yoy; Net income €89 million, -2% yoy
• Basic EPS €0.53; Adjusted EPS €0.67
• Strong 110% LTM cash conversion; solid operating cash flow of €200 million, up €79 million yoy
• ND/EBITDA -0.3x qoq, with net debt €220 million lower yoy

Denis Machuel, Adecco Group CEO, commented:

"Our positive trajectory has continued in mixed markets, with further market share gains and good growth. We have improved margins by 90 basis points compared to the last quarter, demonstrating strong operating leverage. We thank our teams for yet another quarter of rigorous execution. We remain on track to reach our full year margin commitment.

"We are particularly pleased with Adecco's strong results, with solid growth across multiple regions. Akkodis improved sequentially with our German turnaround progressing well. LHH returned to growth, supported by continued strength from Career Transition.

"We look forward to sharing the evolution of our strategy and detailed value creation plans at our Capital Markets Day in London on 26 November."

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