AD HOC ANNOUNCEMENT pursuant to Art. 53 Listing Rules of SIX Swiss Exchange
ZURICH, May 4, 2023 /PRNewswire/ -- Q1 2023 Results
Delivering strong market share gains, revenue growth and gross margin
Denis Machuel, Adecco Group CEO, commented:
"The Group achieved a very good Q1 performance, effectively delivering against our plan, with growth that continued to outpace the market and a gross margin that remained industry-leading. In Adecco, we achieved further significant share gains with outperformance in many key geographies, while dynamic pricing and productivity improvements kept profitability at a solid level. Akkodis continued to perform well including navigating the US tech staffing slowdown, with the team harnessing the newly combined tech and engineering capabilities to secure continued major consulting contract wins, with a healthy pipeline in place. In LHH, our Career Transition business actively captured further corporate restructuring projects resulting in record high performance levels, while Ezra, our digital coaching business, also posted excellent growth.
Looking ahead, we still have a number of areas that require further focus and we are fully concentrated on these, while remaining agile and responsive to market conditions. Overall we see strong momentum from our Simplify-Execute-Grow plan; our teams are equally focused on achieving significant G&A cost reduction, which we expect will begin to flow through in H2, while driving growth and market share."
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