Q1 2025 Adecco Group AG Earnings Call Transcript
Key Points
- Adecco Group AG (AHEXF) gained further market share with solid margin performance, outperforming key competitors by 130 basis points.
- The company saw a return to growth in the Adecco US segment, with revenues improving sequentially.
- Adecco Group AG (AHEXF) is adopting AI solutions to accelerate growth, including pre-screening agents in the UK and new AI capabilities in Germany.
- The company's cash conversion ratio was strong at 105%, indicating efficient cash management.
- Adecco Group AG (AHEXF) has a robust financial structure with strong liquidity resources, including an undrawn EUR750 million revolving credit facility.
- Revenues were EUR5.6 billion, 2% lower year on year on an organic trading days adjusted basis.
- Adjusted EPS was $0.48, 20% lower year on year, mainly due to lower business income.
- Cash flow from operating activities was negative at minus EUR144 million.
- The EBITA margin, excluding one-offs, was 2.4%, 40 basis points lower year on year.
- Akkodis Germany faced significant pressure, with revenues 15% lower due to weaker demand in the automotive sector.
Good morning, ladies and gentlemen, and thank you for standing by. My name is Kelvin, and I will be your conference operator today. At this time, I would like to welcome everyone to the Adecco Group first quarter 2025 results. (Operator Instructions)
Thank you. I would now like to turn the call over to Benita Barretto, the Adecco Group Head of investor relations. Please go ahead.
Good morning. Thank you for joining the Adecco Group's conference call today. I'm Benita Barreto, the group's head of investor relations. Denis Machuel, the Adecco Group's CEO, and Coram Williams, the CFO, are with me today. Before we begin, we want to draw your attention to the disclaimer on slide 2.
Today's presentation will reference GAAP and non-GAAP financial results and operating metrics. This conference call will include forward-looking statements. These statements are based on assumptions as of today and are therefore subject to risks and uncertainties.
Let me now hand over to Denis and
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