Better-than-expected Q1 19 results. Adecco published encouraging figures with a gross margin and EBITA margin above consensus expectations thanks to lower costs, productivity savings from GrowTogether plan and a positive temporary staffing price/mix development. The outlook for the second quarter is a bit cautious due to the timing of bank holidays and the replacement of CICE in France, but we continue to see more operational leverage on Adecco thanks to its GrowTogether plan.
07 May 2019
GrowTogether is on track!
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GrowTogether is on track!
Adecco Group AG (0QNM:LON) | 3,100 0 0.0% | Mkt Cap: 5,221m
- Published:
07 May 2019 -
Author:
Luis Pereira -
Pages:
3
Better-than-expected Q1 19 results. Adecco published encouraging figures with a gross margin and EBITA margin above consensus expectations thanks to lower costs, productivity savings from GrowTogether plan and a positive temporary staffing price/mix development. The outlook for the second quarter is a bit cautious due to the timing of bank holidays and the replacement of CICE in France, but we continue to see more operational leverage on Adecco thanks to its GrowTogether plan.