Adecco: stock up after 2020 results

(CercleFinance.com) - The Adecco share is up over 1% in Zurich after the HR services group published its 2020 results, including an adjusted EBITA of 709 million euros, meaning a margin of 3.
6%, down 80 basis points in organic terms.

Impacted by the Covid crisis, revenues declined by 15% in organic terms and adjusted for working days, although the Swiss group points to a consistent improvement since the low reached in Q2 2020.

In addition, boasting strong cash flow and a healthy balance sheet, Adecco says that it will propose a dividend of 2.50 Swiss francs per share, as well as the resumption of share buybacks representing 600 million euros.


Copyright (c) 2021 CercleFinance.com. All rights reserved.