Adecco Holds Its Investor Days 2008 in New York
September 25 2008 - 12:16PM
Marketwired
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.
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).
Copyright � Hugin AS 2008. All rights reserved.
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
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