FINANCIALS: Adecco delivers solid results against worsening backdrop

International staffing giant Adecco delivered a solid set of results in 2019.

Against a backdrop of growing uncertainty and market slowdown, but before the coronavirus began to wreak real havoc across the world economy, key indicators of the company’s financial performance remained virtually unchanged.

While chair of the board Rolf Dörig and CEO Alain Dehaze noted slowing economic growth in the US and Europe, they said “the strides we have made to transform the company, with enhanced digital tools and processes, combined with a focus on moving up the HR solutions value chain, meant that our EBITA margin modestly improved and operating profits were broadly stable year-on-year. 

“Disciplined fiscal management ensured that cashflow and the balance sheet remained strong, allowing the Group to continue to make important strategic investments in IT and digital, while also returning significant capital to shareholders.”

The UK & Ireland contributed 9% of the group’s revenue against 52% for the rest of Europe, 19% USA and Japan and rest of the world 18%.

Key Financials   2019                    2018
Revenues     €23,427m (£21,559m)  €23,867m 

Gross profit   €4,504m (£4,144m)     €4,433m
EBITA margin    4.2%                    4.1%

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