New York, September 25, 2008: Adecco S.A. ("Adecco"), the worldwide
leader in HR services, holds its Investor Days 2008 in New York. At
the same time, the management provides a trading update and confirms
the outlook statement given at the Q2 2008 results release in August.
In the first two months of the third quarter 2008 Adecco experienced
a revenue decline of 3% when excluding the impact of trading days,
currency and acquisitions, inline with the decline rate of the second
quarter of 2008.
For the remainder of the year, Adecco anticipates continued weak
markets in the USA & Canada, while in Europe and in Japan a further
market deceleration is anticipated. Given weaker demand, due to the
softening economic environment, the focus on aligning the cost base
with revenue developments is at the forefront of management's
priorities. The company remains fully committed to reach an EBITA
margin in excess of 5.0% in 2009. With further weakening of the
economic environment this target becomes increasingly ambitious.
Contacts:
Adecco Corporate Press Office
press.office@adecco.com ; Tel. +41 (0) 44 878 87 87
Adecco Corporate Investor Relations
Investor.relations@adecco.com ; Tel. +41 (0) 44 878 89 25
Forward-looking statements
Information in this release may involve guidance, expectations,
beliefs, plans, intentions or strategies regarding the future. These
forward-looking statements involve risks and uncertainties. All
forward-looking statements included in this release are based on
information available to Adecco S.A. as of the date of this release,
and we assume no duty to update any such forward-looking statements.
The forward-looking statements in this release are not guarantees of
future performance and actual results could differ materially from
our current expectations. Numerous factors could cause or contribute
to such differences. Factors that could affect the Company's
forward-looking statements include, among other things: global GDP
trends and the demand for temporary work; changes in regulation of
temporary work; intense competition in the markets in which the
Company competes; changes in the Company's ability to attract and
retain qualified temporary personnel; the resolution of the French
anti-trust procedure and any adverse developments in existing
commercial relationships, disputes or legal and tax proceedings.
About Adecco
Adecco S.A. is a Fortune Global 500 company and the global leader in
HR services. The Adecco Group network connects over 700,000
associates with clients each day through its network of over 36,500
employees (FTEs) and over 6,700 offices in over 60 countries and
territories around the world. Registered in Switzerland, and managed
by a multinational team with expertise in markets spanning the globe,
the Adecco Group delivers an unparalleled range of flexible staffing
and career resources to clients and associates.
Adecco S.A. is registered in Switzerland (ISIN: CH0012138605) and
listed on the Swiss Stock Exchange with trading on SWX Europe (SWX:
ADEN) and the Euronext Paris (EURONEXT: ADE).
