Adecco Group Ag Unsp/Adr

Good day and welcome to the DECO Group AG Q3 Results 2024 conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, please press star one again. For operator assistance throughout the call, please press star zero. And finally, I would like to advise all participants that this call is being recorded. Thank you. I'd now like to welcome Benita Barreto, Head of Investor Relations, to begin the conference. Benita, over to you.

Thank you. Good morning, and thank you to everyone who's joined the lines today. I am Benita Barreto. I'm the Group's Head of Investor Relations, and with me, we have the ADECA Group CEO, Denis Machuel, and CFO, Coram Williams. Before we begin, We want to draw your attention to the disclaimer on slide two. Today's presentation will reference 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 Denny and the results report.

Thank you, Benita, and a warm welcome to all of you who joined the call today. Let's turn to slide three, which provides an overview of this quarter's results. The group delivered 5.7 billion euros in revenues, 5% lower on an organic training days-adjusted basis, and 3% lower on an organic basis. We've also been encouraged to see volume trends stabilizing throughout the quarter. Overall, this is a solid revenue result. considering challenging market conditions and a high comparison base. Last year, revenues in the third quarter were up 3%, and we delivered 835 basis points of relative revenue growth outperformance at the group level. The growth margin at 19.4% was resilient with year-on-year development, reflecting lower volumes, current business mix, and firm pricing. And in Q3, we delivered strong G&A savings, supporting the Group EBIT A of 186 million euros and a robust 3.3% margin. Adjusted EPS was 68 cents and basic EPS was 59 cents, 3% lower year-on-year in constant currency terms. Net debt to EBITDA ended the quarter at 3.1 times, while cash flow from operating activities was 216 million euros year-to-date, with a healthy cash conversion ratio of 72%. We remain focused on delivering against our simplify, execute, and grow agenda, and I will provide details on Q3's strong progress later in the presentation. But first, Let me head over to Colm, who will provide further insights into the Q3 results.