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Adecco holds its Investor Days 2008 in New York


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.

New York, NY, United States, Sep 25, 2008 

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.
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