Adecco: stock up after annual results

(CercleFinance.com) - Adecco shares are up over 4% in Zurich today, following the publication of 2024 adjusted EPS that fell 15% to E2.
55, and an EBITA margin excluding non-recurring items down 50bp to 3.1%, on revenues down 3% to E23.1bn.

We have consistently gained market share in difficult markets, streamlined the business model, reduced general and administrative expenses by more than 20%, ahead of target, and generated solid liquidity, management said.

Adecco is proposing a dividend of one Swiss franc per share for 2024, but is updating its dividend policy, no longer setting a floor of a dividend at least equivalent to that of the previous year, in order to accelerate its deleveraging.

We are increasingly convinced that markets will improve, stimulating growth, and our continued rigorous execution will lead to further gains in market share, profitability and cash flow in the future, it adds.


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