- Adecco SA
- 12 November 2026 16:24:27
Source: Sharecast
The Swiss-French business, which is based in Zurich and operates across Europe, Asia and the Americas, saw revenues rise 4% to €6bn, up from €5.8bn a year previously, or 3.7% on an organic basis. Operating income rocketed 14% at €180m in the three months to September end, ahead of consensus for €166m.
Adecco said it had flagged ongoing growth momentum in flexible placement alongside a return to growth in the permanent division.
Denis Machuel, chief executive, said: "We are on a positive trajectory with continued growth and strong operating leverage driving improved profitability and deleveraging. We see encouraging developments in the market."
Looking to the current fourth quarter, and Adecco confirmed it was seeing ongoing momentum in volumes, with gross margin expected to be slightly higher sequentially. "Management continues to execute with discipline, balancing profitable growth with rigorous cost and capacity management," it added.
As at 1600 GMT, the Zurich-listed stock had soared 15%.
Jefferies, which has a ‘buy’ rating on Adecco, said: "The return to growth in permanent is a positive, while the sequential slowdown in temporary raises questions on the duration of the positive topline momentum seen over the past quarters. The outlooks suggests fourth-quartered adjusted earnings before interest and tax largely in line with limited operating leverage, while one-off costs will be higher than expected."