Adecco Group Ag Unsp/Adr

Thank you for standing by. My name is Kate, and I will be your conference operator today. At this time, I would like to welcome everyone to the Ad Deco Group Q2 2025 results. All lines have been placed on you 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 review your question, press star 1 again. Thank you. I would now like to turn the call over to Benita Barreto, the ADECA Group Head of Investor Relations. Please go ahead.

Good morning, and thank you for joining the ADECA Group's Q2 Results Conference Call. I'm Benita Barreto, the Group's Head of Investor Relations, and with me are the ADECA Group's CEO, Denis Machuel, and CFO, Coram Williams. Before we begin, we want to draw your attention to the disclaimer on slide 2. 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 have joined the call today. Let's turn to slide 3. which provides an overview of the quarter. With increased market share, with a group and a DECO ahead of key competitors by 205 and 130 basis points, respectively, this Q2. Revenue trends improve sequentially across all GDUs. A DECO return to growth, with revenues up 2% year-on-year on a trading day-adjusted basis. led by ADECO Americas, up 14% year-on-year, and ADECO APAC, up 9% year-on-year. Gross profit was 1.1 billion euros, with a gross margin of 18.9%, a healthy result, reflecting current business mix and firm pricing. ABA excluding one-offs was 141 million euros, with a 2.5% margin reflecting effective cost discipline, agile capacity management, and the timing of income from the FESCO JV. Adjusted EPS was $0.46, with lower one-off charges relative to the prior year period. Operating cash flow was 81 million euros, driven by disciplined working capital management and a best-in-class DSO. Cash conversion remains strong at 98%. Moving to slide 4. The group's strategic execution continues to drive market share gains. On the left, we show relative revenue growth into 1%, the group gained 30 basis points share and ADECO 130 basis points. In Q2, share gains increased to 205 basis points for the group, with ADECO gaining a further 130 basis points. On the right, we show the improvement in year-on-year flexible volume trends across the ADECO GBUN in its 12 largest markets year-to-date. the group's sharpened execution positions us well in this improving market environment. Let's turn to slide 5 now, which highlights recent client wins. First, ADECO secured a significant win with a global OEM that needed support with its expansion into EV battery production. The client increased ADECO's share of wallets, thanks to our AI-driven recruiting tools, such as AI Bots and Career Assistant, our ability to deliver high-quality labor at scale, and our real-time workforce analytics. Second, LHS and ADECO won a large-scale permanent recruitment mandate from a global consulting firm. The client chose us for our preparatory cross-EBU candidate platform, speed in delivering top-quality candidates, and proven industry expertise. And third, Accotis signed a multi-year contract with a leading French defense company. The plan sold to streamlined suppliers while expanding its workforce. Our technical expertise and AI-enhanced processes to accelerate innovation stood out. In addition, Our ability to scale capacity and implement a well-structured outsourcing model helped cement our position as a preferred supplier. These wins demonstrate the group's commercial excellence and competitive edge as we more effectively lever our digital expertise, scale, and breadth of offering, creating higher value add across DBU client solutions. Let me now hand over to Coran, who will provide details on the Q2 results.