Adecco Group AG (OTCPK:AHEXF) Q2 2022 Earnings Conference Call August 4, 2022 3:30 AM ET
Company Participants
Benita Barretto - Head of Investor Relations
Denis Machuel - Chief Executive Officer
Coram Williams - Chief Financial Officer
Conference Call Participants
Paul Sullivan - Barclays
Anvesh Agrawal - Morgan Stanley
Sylvia Barker - JPMorgan
Rory McKenzie - UBS
Hans Pluijgers - Kepler Cheuvreux
Benita Barretto
Good morning. And thank you for joining the Adecco Group's Analyst and Investor Call. With me today, I have our CEO, Denis Machuel; and our CFO, Coram Williams.
Before we begin, I would like to draw your attention to the information on slide two. On today's call, we will be referencing both GAAP and non-GAAP financial results and operating metrics. This conference call will include forward-looking statements. These statements are based on assumptions as of today and are therefore subject to risks and uncertainties.
Let me now hand over to Deni.
Denis Machuel
Thank you, Benita, and hello, everyone. I am delighted to be joining my first results call at the Adecco Group, having just completed my first month as CEO. I have always valued exchanges with investors and analysts, and I'm sure we will have good discussions in the future. On today's call, Coram will review Q2 results and the group's outlook, and after this, I will provide you with some of my initial impressions. Following this, of course, we will open the lines for questions.
So, Coram, over to you.
Coram Williams
Thank you, Deni, and a warm welcome to everyone on our call this morning.
Let's now turn to slide three. Q2 results are solid, reflecting investments made to drive growth and market share. Revenues reached €5.9 billion, up 4% year-on-year on an organic trading days' adjusted basis, and was higher in all three GBUs. Gross profits of €1.25 billion was 7% higher organically. Gross margin
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