Adecco Hosts Investor Days 2008 in New York City
Adecco S.A., the global leader in HR services and a Fortune Global 500 company, is bracing for a challenging second half of 2008 as the global financial crisis takes its toll on the staffing industry.
The company, which connects over 700,000 associates with clients each day through a network of over 6,700 offices in more than 60 countries and territories, has faced significant challenges in the face of the economic downturn. Adecco S.A.'s Investor Days events, typically held to discuss financial results, market outlook, and strategic plans, are set to take place in New York on September 25, 2008.
However, specific details on Adecco’s Q3 2008 financials and investor outlook from the 2008 Investor Days are not readily available in the provided search results. For precise details, one would need to consult Adecco’s official archival investor presentations or credible financial news sources from that period.
In the first two months of the third quarter, Adecco S.A. experienced a 3% revenue decline, excluding the impact of trading days, currency, and acquisitions. This decline rate is in line with the decline rate of the second quarter of 2008. Given the weakening economic environment, the focus on aligning the cost base with revenue developments is a priority for management at Adecco S.A.
The management of Adecco S.A. is providing a trading update and confirming the outlook statement given at the Q2 2008 results release in August. The company remains committed to reaching an EBITA margin in excess of 5.0% in 2009, although with further weakening of the economic environment, this target becomes increasingly ambitious.
Adecco S.A. anticipates continued weak markets in the USA & Canada, and a further market deceleration in Europe and Japan for the remainder of the year. Numerous factors could cause or contribute to differences between Adecco’s forward-looking statements and actual results. These factors include, but are not limited to, global GDP trends and the demand for temporary work, changes in regulation of temporary work, intense competition in the markets in which Adecco operates, changes in Adecco’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.
For more information, investors are encouraged to contact Adecco’s Corporate Investor Relations team at [email protected] or Tel. +41 (0) 44 878 89 25. For media inquiries, please contact Adecco’s Corporate Press Office at [email protected] or Tel. +41 (0) 44 878 87 87. 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).
Adecco S.A. has a network of over 36,500 employees (FTEs) and employs a workforce of over 700,000 associates daily. The company is committed to navigating the economic downturn and positioning itself for recovery in the months to come.
The upcoming Investor Days events at Adecco S.A. are expected to discuss financial results, market outlook, and strategic plans, which are crucial for investors who are interested in the company's finance and investing aspects. Given the challenging economic environment, Adecco S.A.'s business strategy is prioritizing cost base alignment with revenue developments to maintain its competitive edge in the staffing industry.
