Adecco : Outstanding Q3 results, gaining market share while improving margins
>EBITA a 19% consensus beat, gaining marketshare & stringent cost control - In Q3, Adecco reported organic revenue growth of 3%, which compares with consensus of 2.0% and our forecast of 2.3% (and -5.2% at Randstad). General staffing (Adecco) saw organic revenues grow 4% in Q3 (we at 3.3%, Q2: +5%), while LHH and Akkodis reported organic revenue growth of +2% and -3% respectively (we at -0.5% and -1.0%). This compares with organic revenue growth of 0% and -1% in Q2 20...Adecco Group provides human resource services, including temporary staffing, permanent placement, outsourcing, consulting and outplacement. Co. has more than 5,500 branches in over 60 countries and territories. Co.'s Office and Industrial businesses offer a range of general staffing services, including temporary staffing, permanent placement, assessment, training and integrated human resources applications. In addition, Co. operates professional business lines, which include Adecco Finance & Legal, Adecco Engineering & Technical, Adecco Information Technology, Adecco Medical & Science, Adecco Sales, Marketing & Events and Adecco Human Capital Solutions.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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