Adecco beat expectations in Q3 23. Organic and TDA revenue grew by +3% and the EBITA margin before one-offs was 4.0% of revenue (+0.4pt). The Adecco business unit had strong activity in the DACH, Southern and Eastern Europe/MENA and Asia Pacific regions while LHH benefited from a buoyant Career Transition business. The margin increase reflected the solid gross profit and G&A cost savings. For Q4 23, Adecco expects a gross margin and SG&A cost in percentage of revenue broadly similar to its level ....
