Adecco reports market share gains after strong Q4

25th Feb 2026 09:07

(Sharecast News) - Full-year results from French-Swiss recruiter Adecco on Wednesday showed strong market share gains and solid growth, with the company posting its strongest quarter of the year over the final three months of 2025.

The Adecco Group saw a 1% reported improvement in revenues over the fourth quarter to €5.96bn, representing 3.9% growth on an organic basis, with adjusted organic EBITDA surging 25% to €225m, helped by a 60 basis-point (bp) rise in the adjusted EBITDA margin to 3.8%.

The eponymous Adecco business, which accounts for 81% of group revenues, reported 4.9% organic growth over last year, and the talent solutions arm LHH saw a 2% organic top-line improvement, offsetting a 1% organic decline at digital engineering consulting firm Akkodis. However, the company reported a sequential improvement at Akkodis, including "firm progress in its German turnaround".

Over the fourth quarter, the group's share of the market improved by 395 basis points, while Adecco reported a 240bp increase.

For 2025 as a whole, organic revenues were 1.3% higher at €23.14bn amid a "mixed market environment", though adjusted EBITDA was flat at €709m as the adjusted EBITDA margin slipped 10bp to 3.0% due to mix effects. The group's market share improved by 245bp over the year.

"We had a strong finish to the year with ongoing positive momentum and a third consecutive quarter of growth, achieving a 3.8% [adjusted EBITDA] margin in Q4," said chief executive Denic Machuel.

Looking ahead to 2026, the group said it has seen "continued positive momentum in volumes" so far in the first to date this quarter, with gross margin and expenses expected to be broadly stable sequentially, when excluding one-offs.

"We are rigorously executing the group's strategy and run-and-change priorities, focusing on market share gains while managing costs and capacity with discipline to drive profitable growth," the firm said.