AD HOC ANNOUNCEMENTpursuant to Art. 53 Listing Rules of SIX Swiss Exchange
ZURICH, May 4, 2023 /CNW/ -- Q1 2023 Results
Delivering strong market share gains, revenue growth and gross margin
Q1 HIGHLIGHTS
Revenues +8% reported, +3% yoy organic TDA, with standout performance in LHH Career Transition, +63%, and double-digit growth in Adecco APAC, Germany, Latam, EEMENA
Sustained strong 21.3% gross margin driven by favourable business mix, supportive solutions mix and pricing
Robust EBITA margin excl. one-offs of 3.1%, includes impact from the timing of AKKA's consolidation and FESCO JV income, and a moderated contribution from Adecco North America
Group productivity +2% yoy; Adecco productivity +5% qoq with FTEs -2% qoq
Akkodis integration well progressed; strong momentum in Consulting
Operating income ?144 million, +3% constant currency
Basic EPS ?0.55; Adjusted EPS ?0.72
Denis Machuel, Adecco Group CEO, commented:
"The Group achieved a very good Q1 performance, effectively delivering against our plan, with growth that continued to outpace the market and a gross margin that remained industry-leading. In Adecco, we achieved further significant share gains with outperformance in many key geographies, while dynamic pricing and productivity improvements kept profitability at a solid level. Akkodis continued to perform well including navigating the US tech staffing slowdown, with the team harnessing the newly combined tech and engineering capabilities to secure continued major consulting contract wins, with a healthy pipeline in place. In LHH, our Career Transition business actively captured further corporate restructuring projects resulting in record high performance levels, while Ezra, our digital coaching business, also posted excellent growth.
Looking ahead, we still have a number of areas that require further focus and we are fully concentrated on these, while remaining agile and responsive to market conditions. Overall we see strong momentum from our Simplify-Execute-Grow plan; our teams are equally focused on achieving significant G&A cost reduction, which we expect will begin to flow through in H2, while driving growth and market share."
Party City, a specialty retailer and global leader in the party goods and celebrations industry, will celebrate the grand re-opening of their Gaithersburg, Maryland store location on May 25, 2024. In doing so, they invite the community to join them...
Party City, a specialty retailer and global leader in the party goods and celebrations industry, will celebrate the grand re-opening of their Nanuet, NY store location on June 1, 2024. In doing so, they invite the community to join them for a day...
ITO EN, Ltd., the Tokyo-based producer of the world's No. 1 unsweetened green tea beverage brand "Oi Ocha" (*), has signed a global contract with Shohei Ohtani, the Los Angeles Dodgers player. The company is pleased to announce his appointment as ITO...
The9 Limited ("The9"), an established Internet company, today announced that it signed a definitive share purchase agreement (the "Agreement") with Kuaijin Shidai (Xiamen) Technology Co., Ltd. ("KuaiJin"), a company operating unmanned retail store...
Results of the 24th annual North American Automotive OEM - Supplier Working Relations Index® (WRI®) Study that evaluates relations between US automakers and their suppliers were released today by Plante Moran.
Do...
ATRenew Inc. ("ATRenew" or the "Company") , a leading technology-driven pre-owned consumer electronics transactions and services platform in China, today announced its unaudited financial results for the three months ended March 31, 2024.
First...