Report
Emira Sagaama ...
  • Matthias Desmarais

Adecco : Un bon T1, le T2 ne sera pas pire qu’attendu

>Résultats T1 supérieurs aux attentes - Le CA est en baisse de -9% yoy en organique et ajusté des jours ouvrés, ce qui est bien mieux que les attentes (ODDO BHF -13.9%, Consensus -13.4%), mais qui n’est pas une surprise en soi après une performance similaire chez Randstad et Manpower. La marge brute est également supérieure aux attentes à 19.3%, +20 pb yoy dont 30 pb en organique (vs stable à 19.1% attendu par nous et 19% pour le Css). L’EBITA ajusté est 18% au-dessus...
Underlying
Adecco Group AG

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Emira Sagaama

Matthias Desmarais

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