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Strong revenue growth, market share gains, and improved profitability driven by rigorous execution
Zurich, SwitzerlandMay 14, 2026 /PRNewswire/ — Ad hoc announcement pursuant to Art. 53 of the SIX Swiss Exchange Listing Rules
Highlights
- Year-to-date organic revenue growth accelerated, with a year-on-year increase of 5.3%
- Continued strong market share gains: Group up 365 basis points, Adecco up 210 basis points, outperforming key competitors
- By Global Business Unit (GBU): Adecco grew 7% year-on-year, with growth across all regions, led by the Americas at 15%, Asia Pacific at 8%, and Europe, Middle East, and Africa (excluding France) at 7%. Akkodis declined 1% year-on-year; LHH declined 1% year-on-year
- Solid gross margin of 18.8%, down 40 basis points year-on-year, reflecting the current business mix
- EBITA of €148 million (excluding one-time items), up 24% year-on-year
- EBITA margin (excluding one-time items) remained robust at 2.6%, up 20 basis points year-on-year: Rising volumes and prices, combined with strict cost management, drove profitability improvements, with productivity up 4% year-on-year and DDR growth exceeding 100%
- Operating income of €127 million, up 28% year-on-year; net income of €69 million, up 41% year-on-year
- Basic earnings per share of €0.41, up 40% year-on-year; adjusted earnings per share of €0.50, up 6% year-on-year
- Strong cash conversion rate of 94% over the past 12 months; operating cash flow of -€178 million, with working capital absorption primarily driven by stronger revenue growth performance and in line with normal seasonal patterns
- Net debt/EBITDA ratio down 0.2x year-on-year, in line with deleveraging targets set at the end of 2025
- Positive volume momentum continues quarter-to-date
Adecco Group CEO Denis Machuel commented:
“Our strategy, combined with rigorous execution, has delivered a strong start to 2026 and maintained our momentum. Growth and cost control are improving profitability. This marks our fourth consecutive quarter of growth: up 5.3% year-on-year. We achieved another 365 basis points of market share gains, while maintaining a healthy gross margin and strong EBITA.
“Adecco continues to lead the market, with growth across all regions, including double-digit growth in Iberia, Nordics, North America, Latin America, and Asia. Akkodis’ revenue is stabilizing, and profitability is improving. LHH achieved a double-digit EBITA margin, driven by strong growth in Career Transition and Ezra.
“Our technology agenda is progressing as we further deploy agentic AI into new markets via digital platforms, improving job fill rates, shortening recruitment cycles, and enhancing the experience for both candidates and recruiters.”
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