Board Change • May 21
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Sandy Venugopal was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Mar 23
Adecco Group AG(SWX:ADEN) dropped from FTSE All-World Index (USD) Adecco Group AG(SWX:ADEN) dropped from FTSE All-World Index (USD) Announcement • Mar 16
Adecco Group AG, Annual General Meeting, Apr 15, 2026 Adecco Group AG, Annual General Meeting, Apr 15, 2026, at 11:00 W. Europe Standard Time. Announcement • Mar 14
Adecco Group AG announces Annual dividend, payable on May 07, 2026 Adecco Group AG announced Annual dividend of CHF 1.0000 per share payable on May 07, 2026, ex-date on April 20, 2026 and record date on April 21, 2026. Announcement • Feb 25
The Adecco Group Announces Not Stand for Re-Election of Directors The Adecco Group announced longstanding members Kathleen Taylor and Didier Lamouche, who joined the Board in 2015 and 2011 respectively, are not standing for re-election. Jean-Christophe Deslarzes, the Chair of the Board of Directors, will stand for re-election for a final term that will run until the 2027 AGM, when he plans to step down after twelve years as a board member, including seven as Chair. Announcement • Nov 06
Adecco Group AG to Report Q4, 2025 Results on Feb 25, 2026 Adecco Group AG announced that they will report Q4, 2025 results on Feb 25, 2026 Announcement • Mar 19
Adecco Group AG, Annual General Meeting, Apr 17, 2025 Adecco Group AG, Annual General Meeting, Apr 17, 2025, at 11:00 W. Europe Standard Time. Announcement • Mar 18
The Adecco Group Announces Executive Changes The Adecco Group announced the appointment of Jo Debecker as President of Akkodis and member of the Group Executive Committee from 22 April 2025. In his new role, Jo will build on the strong foundation established through the successful integration of AKKA and Modis over the past three years, which has positioned Akkodis as a global leader within the ER&D Technology Consulting market. He will work with the Akkodis team to accelerate the delivery of strategic priorities, including the roll-out of technology practices and the expansion of offshore capabilities. These initiatives will support Akkodis' profitable growth ambitions in a rapidly expanding addressable market. Jo brings a wealth of experience in global technology services, including leading global businesses in the IT, digital and software/cloud engineering space, having most recently served as the Head of Wipro's FullStride Global Business Line and a member Wipro's Executive Board. At Wipro, he led the FullStride division to higher profitability levels, generating USD 5 billion revenues, by leveraging offshoring and aligning the portfolio of solutions with strongest growth opportunities. Jo is known for his customer-focused and delivery-oriented approach and strong team leadership skills. Prior to Wipro, he held senior management positions in several global technology services companies. Jo, a Belgian and Swiss citizen, holds a master's degree in finance and computer science from The University of Leuven, Belgium. After six years of dedicated service, including his critical role in forming Modis as a separate Global Business Unit, and then in the successful integration of AKKA and Modis, Dr. Jan Gupta, has stepped down from his role as president of Akkodis and as a member of the Adecco Group's Executive Committee. Announcement • Jul 04
Adecco Group Reportedly Considers Possible Sale of Akkodis Swiss staffing company Adecco Group AG (SWX:ADEN) is considering a possible sale of its technology consulting unit Akkodis (Akkodis Group Ltd.), according to people familiar with the matter. The Zurich-based company has been gauging potential buyer interest for the division, which was created through the purchase of AKKA Technologies SE, the people said. Adecco Group could opt to keep a stake in Akkodis in any sale, some of the people said. Deliberations are ongoing and may not lead to a transaction, they said, asking not to be identified as the information is private. A representative for Adecco Group declined to comment. “We do not believe a sale of Akkodis is necessary for the company, and a natural industry buyer is not directly visible for us,” Konrad Zomer, an analyst at ABN Amro Oddo Bhf BV, wrote in a note. A private equity buyer could always be interested as it requires little invested capital, generates decent free cash flow, is profitable and can be levered up to an extent, the analyst said. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: €0.43 (vs €0.55 in 1Q 2023) First quarter 2024 results: EPS: €0.43 (down from €0.55 in 1Q 2023). Revenue: €5.72b (down 3.0% from 1Q 2023). Net income: €73.0m (down 21% from 1Q 2023). Profit margin: 1.3% (down from 1.6% in 1Q 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 19% per year. Board Change • May 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Independent Director Sandhya Venugopal was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 10
Upcoming dividend of CHF2.50 per share Eligible shareholders must have bought the stock before 16 April 2024. Payment date: 18 April 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 7.3%. Within top quartile of British dividend payers (6.0%). Higher than average of industry peers (1.9%). Announcement • Mar 05
Adecco Group AG to Report Fiscal Year 2023 Final Results on Mar 13, 2024 Adecco Group AG announced that they will report fiscal year 2023 final results on Mar 13, 2024 New Risk • Mar 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 138% Cash payout ratio: 126% Minor Risk Large one-off items impacting financial results. Announcement • Mar 02
Adecco Group AG Proposes Dividend for the Year 2023 Adecco Group AG proposed dividend of CHF 2.50 per share for the year 2023. Reported Earnings • Mar 02
Full year 2023 earnings released: EPS: €1.94 (vs €2.05 in FY 2022) Full year 2023 results: EPS: €1.94 (down from €2.05 in FY 2022). Revenue: €24.0b (up 1.3% from FY 2022). Net income: €325.0m (down 5.0% from FY 2022). Profit margin: 1.4% (in line with FY 2022). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Jan 13
Adecco Group AG, Annual General Meeting, Apr 11, 2024 Adecco Group AG, Annual General Meeting, Apr 11, 2024. Reported Earnings • Nov 04
Third quarter 2023 earnings released: EPS: €0.62 (vs €0.65 in 3Q 2022) Third quarter 2023 results: EPS: €0.62 (down from €0.65 in 3Q 2022). Revenue: €5.96b (down 1.4% from 3Q 2022). Net income: €103.0m (down 4.6% from 3Q 2022). Profit margin: 1.7% (in line with 3Q 2022). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in the United Kingdom. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CHF39.00, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Professional Services industry in the United Kingdom. Total returns to shareholders of 38% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CHF50.46 per share. Announcement • Aug 15
Adecco Group AG to Report Q4, 2023 Results on Feb 29, 2024 Adecco Group AG announced that they will report Q4, 2023 results on Feb 29, 2024 Reported Earnings • Aug 04
Second quarter 2023 earnings released: EPS: €0.37 (vs €0.46 in 2Q 2022) Second quarter 2023 results: EPS: €0.37 (down from €0.46 in 2Q 2022). Revenue: €6.00b (up 1.0% from 2Q 2022). Net income: €62.0m (down 20% from 2Q 2022). Profit margin: 1.0% (down from 1.3% in 2Q 2022). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Professional Services industry in the United Kingdom. Reported Earnings • May 06
First quarter 2023 earnings released: EPS: €0.55 (vs €0.55 in 1Q 2022) First quarter 2023 results: EPS: €0.55 (down from €0.55 in 1Q 2022). Revenue: €5.89b (up 8.2% from 1Q 2022). Net income: €92.0m (flat on 1Q 2022). Profit margin: 1.6% (down from 1.7% in 1Q 2022). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Professional Services industry in the United Kingdom. Upcoming Dividend • Apr 11
Upcoming dividend of CHF2.50 per share at 7.8% yield Eligible shareholders must have bought the stock before 18 April 2023. Payment date: 20 April 2023. Payout ratio is on the higher end at 91%, however this is supported by cash flows. Trailing yield: 7.8%. Within top quartile of British dividend payers (5.9%). Higher than average of industry peers (2.4%). Reported Earnings • Mar 02
Full year 2022 earnings released: EPS: €2.05 (vs €3.62 in FY 2021) Full year 2022 results: EPS: €2.05 (down from €3.62 in FY 2021). Revenue: €23.6b (up 13% from FY 2021). Net income: €342.0m (down 42% from FY 2021). Profit margin: 1.4% (down from 2.8% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Professional Services industry in the United Kingdom. Announcement • Feb 15
the Adecco Group Appoints Geno Cutolo as Head of Adecco North America The Adecco Group announced that Geno Cutolo has joined the Group as Head of Adecco North America. With over two decades of experience in the staffing and workforce solutions industry, Cutolo offers a rich understanding of North America's talent landscape amid an increasingly dynamic global labor market. Prior to joining Adecco, Cutolo was president and CEO of Staffmark Group, a North American subsidiary of Recruit Holdings, the parent of Indeed and Glassdoor. Throughout his career, Cutolo has received various industry recognitions, including being named six times to Staffing Industry Analysts' Staffing 100 list. He is deeply passionate about furthering diversity, equity and inclusion initiatives, and he plays an active role in the community through several organizations which support disadvantaged youth. Announcement • Jan 31
Adecco Group AG to Report Q3, 2023 Results on Nov 02, 2023 Adecco Group AG announced that they will report Q3, 2023 results on Nov 02, 2023 Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Director Rachel Duan was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: €0.65 (vs €0.83 in 3Q 2021) Third quarter 2022 results: EPS: €0.65 (down from €0.83 in 3Q 2021). Revenue: €6.04b (up 16% from 3Q 2021). Net income: €108.0m (down 19% from 3Q 2021). Profit margin: 1.8% (down from 2.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Professional Services industry in the United Kingdom. Board Change • Jul 26
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Director Rachel Duan was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 
