Adecco sees solid growth in 2022 after 2% revenue rise in Q4 2021

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FILE PHOTO: Logo of Swiss Adecco Group is seen in Zurich

ZURICH – Adecco expects “solid revenue growth” at the start of 2022, the temporary staffing and training company said on Thursday, after reporting a 2% increase in revenues during its fourth quarter.

Revenues, when adjusted for trading days, acquisitions and currencies, increased 1% to 5.49 billion euros ($6.17 billion)during the three months to the end of December, in line with analyst forecasts for 5.48 billion euros.

The figure was 3% higher than the third quarter, Adecco said, and reflected increased permanent hiring and retraining by companies.

“In Q1 2022, the Group expects solid revenue growth on a year-on-year basis, with modest sequential improvement,” the Swiss company said in a statement.

Shareholder’s net income rose 23% to 184 million euros, beating forecasts for 131 million euros in a company gathered consensus.

Adecco, which supplies temporary staff and retrains workers as well as finding positions for highly skilled workers, proposed a dividend of 2.50 euros, the same level as in 2020.

“Looking ahead, while recognising ongoing pandemic related challenges, we expect healthy demand for the Group’s services in 2022, and are investing to accelerate sustainable, profitable growth,” said Chief Executive Alain Dehaze.

($1 = 0.8901 euros)

(Reporting by John Revill; Editing by Paul Carrel)