#Switzerland #Zurich #Q4 Results #Adecco Group #Market Share

Adecco Group Announces Q4 and Full Year 2025 Results

The Adecco Group, a leading talent and technology consulting firm, has released its financial results for the fourth quarter and full year of 2025, demonstrating significant growth and market share gains across its diverse global business segments. Reporting on February 25, 2026, the company highlighted a 3.9% year-over-year revenue increase in Q4, supported by robust operational efficiencies and strategic initiatives.

Q4 Highlights

In Q4, the Adecco Group achieved further market share increases, with the overall group growing by 395 basis points and the Adecco brand itself up by 240 basis points. The Americas region showed remarkable performance with a 21% year-over-year revenue increase, while the Asia-Pacific (APAC) segment followed with a 7% growth. However, some areas faced challenges, such as Akkodis which recorded a slight decline of 1% year-over-year.

The company maintained a healthy gross margin of 19.1%, reflecting a stable year-over-year performance due to a favorable mix of solutions and pricing strategies. Its EBITA margin, excluding one-off items, reached 3.8%, marking a 60 basis point improvement compared to the previous year, a result of strong operational leverage and a noted productivity increase of 11% year-over-year.

Operating income surged to €186 million, a 34% increase, while net income rose by 31% to €88 million, resulting in a basic earnings per share (EPS) of €0.52 and adjusted EPS of €0.76.

Full-Year Performance

For the entire year of 2025, the Adecco Group reported a market share increase of 245 basis points. Revenues grew by 1.3% year-over-year, with notable performances in the Adecco segment which recorded a 2.5% rise. Akkodis faced a challenging period with a 4% decline while LHH remained stable year-over-year.

The gross margin for the year stood at 19.2%, demonstrating resilience despite facing a 20 basis point decrease due to shifting market dynamics. The EBITA margin for the full year was 3.0%, aligning with the company's management commitments. Operating income reached €572 million, reflecting an 8% growth, whereas net income increased modestly by 2% to €295 million. Basic EPS for the year was €1.76, while adjusted EPS reached €2.37.

Strong cash generation was a focal point of 2025, with operating cash flow amounting to €613 million and free cash flow at €483 million, resulting in a remarkable 102% cash conversion ratio. The financial structure also improved, with a net debt to EBITDA ratio of 2.4x, showcasing a reduction of 0.2x year-over-year and a target set to reduce this to 1.5x by the end of 2027.

Furthermore, the company announced a proposed dividend per share (DPS) of CHF 1.00, offering shareholders an option to receive dividends in shares.

CEO Comments

Denis Machuel, CEO of the Adecco Group, expressed satisfaction with the year-end results, noting the continuous growth momentum and the achievement of a 3.8% margin in Q4. He stated, "Rigorous execution through 2025 delivered substantial market share gains, strong operating leverage, and cash flow, driving notable improvements in leverage ratios."

Machuel also highlighted the group's commitment to innovation and agility, aiming to better support over 100,000 clients in managing and upskilling their workforces while emphasizing a human-centered approach in their operations. The group is set to pursue its goals in 2026 with confidence based on this solid performance.

In conclusion, the Adecco Group's Q4 and full-year 2025 results reveal a robust trajectory of growth, strategic improvements, and a commitment to enhancing its market position while remaining client-centric in its services.