Switzerland's Adecco Q1 organic revenue rises 5.3%, EBITA up 24%

Adecco AG

13/05/2026 05:43

Overview

Switzerland staffing firm's Q1 organic revenue grew 5.3% yr/yr, reported revenue up 2%

Adjusted EBITA for Q1 rose 24% yr/yr, margin improved to 2.6%

Gross margin for Q1 declined 40 bps yr/yr, reflecting current business mix

Outlook

Adecco did not provide specific guidance for the current quarter or full year

Result Drivers

VOLUME AND PRICING - Higher volumes and firm pricing dynamics contributed to improved EBITA margin, per company statement

PRODUCTIVITY GAINS - Productivity rose 4% per selling full-time employees (FTE), supporting profitability, per company statement

BUSINESS MIX IMPACT - Gross margin declined 40 bps yr/yr, mainly reflecting current business mix, per company statement

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 5.66 bln
Q1 Gross Margin
18.8%
Q1 Adjusted EBITA
EUR 148 mln
Q1 Adjusted EBITA Margin
2.6%
Q1 Basic EPS
EUR 0.41
Q1 Operating Income
EUR 127 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 6 "hold" and 5 "sell" or "strong sell"

The average consensus recommendation for the employment services peer group is "buy."

Wall Street's median 12-month price target for Adecco Group AG is CHF26.00, about 42.1% above its May 12 closing price of CHF18.30

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 9 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)