Increased market share gains with solid margins

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

ZURICH, Aug. 5, 2025 --

HIGHLIGHTS

• Further strong market share gains, Group +205 bps and Adecco +130 bps
• Revenues €5.8 bn, +0.4 yoy, and +2% qoq with all GBUs improving sequentially
• Adecco GBU +2% yoy, and +3% qoq, led by Americas +14% yoy, APAC +9% yoy
• Akkodis GBU -6% yoy, and +2% qoq; LHH -1% yoy, and +4% qoq
• Gross profit €1.1 bn, 18.9% gross margin, -50 bps yoy, reflecting business mix, firm pricing
• 2.5% EBITA margin excl. one-offs, -60 bps yoy: good cost discipline, agile capacity management and timing of FESCO JV income
• Operating income €115 million, +6% yoy; Net income €58 million, +8% yoy
• Basic EPS €0.35; Adjusted EPS €0.46
• Strong LTM cash conversion at 98%. Operating cash flow €81 million, driven by working capital absorption for growth, and in line with normal seasonality

Denis Machuel, Adecco Group CEO, commented:

"We continued to gain share, outperforming a mixed market environment, while disciplined cost management improved our SG&A performance. Through stringent execution, we have seen clear improvement in Adecco France and Adecco US, two of our largest markets, and our rigorous turnaround plan in Akkodis Germany is well underway.

"We have the right strategy and team in place to maintain our positive performance momentum. Our ambitious innovation strategy, including pioneering generative and agentic AI, is gaining traction and will support our positive performance momentum in the quarters ahead."

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