Q2 margin pressure, product mix shift weigh on Adecco shares

Adecco AG

06/08/2026 11:13

Rewrites throughout, updates shares move, adds analyst comment
** Swiss human resources and staffing firm Adecco ADEN.S slips about 3.7% in choppy trade as Q2 margins, product mix worry
** A ZKB analyst points to pressure on gross margins, which decreased by 30 bps y/y to 18.56% as a change in the mix of products sold, with less profitable products gaining share, weighs
** The shares pare losses after they were briefly halted from trading, having fallen close to 8% at one point
** Adecco reports Q2 operating profit down by 5% to €109 million, against a consensus of €130 million
** Before the bell, the shares were seen up 2.6% in pre-market indications as Adecco's Q2 sales slightly beat expectations -- rising to €5.997 billion ($6.92 billion) vs a consensus of €5.95 billion
** Shares in Adecco Group rose 4.1% over the last month
** Up to the previous session's close, they were up 1.3%​ YTD
** Peer Randstad RAND.AS slips 1.2% 
     
     
($1 = 0.8662 euros)

(Reporting by Simon Ferdinand Eibach and Maria Rugamer)
((Simonferdinand.eibach@thomsonreuters.com; maria.rugamer@thomsonreuters.com))