CHESEREX (dpa-AFX) - Adecco Group (AHEXY.PK, ADO.L) reported first quarter EBITA excluding one-offs of 185 million euros, compared to 207 million euros, last year. EBITA margin excluding one-offs was 3.4 percent, 80 basis points lower year-on-year. The company said its EBITA excluding one-offs declined due to investment plan, the absence of non-recurring benefits and a moderated contribution from LHH Career Transition. Adjusted EPS was 0.76 euros, 14 percent lower compared to 0.88 euros.
Net income attributable to shareholders declined to 92 million euros from 124 million euros, prior year. Earnings per share was 0.55 euros compared to 0.76 euros.
First quarter revenues increased to 5.45 billion euros from 4.97 billion euros, previous year. First quarter revenues were up 5 percent organic and TDA.
The Group expects year-on-year revenue growth rate to improve in second quarter when compared to first quarter's result, driven by growth investments. EBITA margin is expected to improve sequentially, while being lower year-on-year.
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