EarningsQ2 2026 Earnings Report
DE:ADIA Q2 2026 EPS Results
Actual EPS€0.31
Consensus EPS€0.25
Beat/MissBeat by +€0.07
One Year Ago EPS€0.24
DE:ADIA Q2 2026 Revenue Results
Actual Revenue€6.22B
Expected Revenue€6.09B
Beat/MissBeat by +€127.64M
YoY Revenue Growth+6.52%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeBefore Open
Conference CallThursday, August 6, 2026
DE:ADIA Upcoming Earnings
Adecco Group AG's next earnings date is estimated for November 12, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:ADIA Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive operational and financial picture: solid organic revenue growth, meaningful EBITA and EBITDA margin expansion, strong market share gains, successful early deployment of agentic AI with measurable productivity benefits, and progress on deleveraging. Key challenges include elevated one-off restructuring charges (notably in Akkodis Germany), working-capital-driven Q2 cash outflow, and pockets of regional and service-line softness (e.g., Adecco France, Akkodis APAC, permanent placement). Management expects sequential margin improvement, further SG&A discipline, and continued deleveraging into H2 and 2027.Company Guidance
Organic Revenue Growth
Group organic revenue rose 5.6% year-on-year on a trading-days adjusted basis in Q2 2026.
Improved Profitability and EBITA
EBITA excluding one-offs was EUR 165 million, up 21% year-on-year on an organic constant currency basis; adjusted EPS increased 31% year-on-year.
EBITDA Margin Expansion
EBITDA margin (ex-one-offs) expanded by 30 basis points year-on-year to 2.8%, driven by operating leverage and capacity management; productivity rose 6% and selling FTEs were 2% lower.
Strong Gross Profit and Margin Recovery
Gross profit was EUR 1.1 billion with a gross margin of 18.6%; organic gross margin was 20 basis points lower year-on-year but improved sequentially from a 40 basis point decline in Q1.
Market Share Gains
Company reported sustained market share gains: outperformed main competitors over recent periods, gaining 320 basis points over the last four quarters and an additional 160 basis points this quarter.
Akkodis Turnaround
Akkodis returned to growth with organic revenues up 1%; Akkodis EBITDA rose 23% and EBITDA margin improved 180 basis points to 3.4%; utilization at 91%.
GBU & Regional Strength
Adecco GBU revenues +6.6% (Flexible +6%, Outsourcing +15%, MSP +11%, Permanent flat and stabilizing); Adecco Americas +12% (North America +9%, SME +23% in North America); APAC +10%.
LHH Profitability and Productivity
LHH delivered an 11% EBITDA margin, up 150 basis points year-on-year; Professional Recruitment Solutions returned to growth and productivity rose 30% with selling FTEs down 15%.
Agentic AI Deployment and Operational Impact
Agentic AI enabled 50% of revenue by end of Q2 (target raised to 70% by end-2026); agents completed 2.2 million conversations and delivered a 10% improvement in fill rate, 40% reduction in time to submit, and 25-35% recruiter productivity benefits.
Cash Conversion and Deleveraging Progress
Last 12-month cash conversion ratio was 83%; DSO 53 days; net debt-to-EBITDA (ex-one-offs) improved to 2.7x, a 0.5x reduction year-on-year, supporting goal to reach <=1.5x by end-2027.
DE:ADIA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed