The personnel service provider Adecco is going on a shopping spree in France. (Archive image)
Akka is active in the field of engineering and technology consulting. The company achieved a turnover of 1.50 billion euros in 2020. The bottom line was a loss in the corona year, but the year before an operating margin of almost 7 percent was achieved and the bottom line was a profit.
The transaction valued the company, which is listed in Paris and Brussels, at 2 billion euros, it said. The deal is expected to be completed in the first half of 2022. Among other things, a formal takeover offer is required, although the majority owners have already agreed to sell their papers.
The takeover is to be financed with bonds and the issue of new shares in the amount of 350 million euros.
In addition, the personnel service provider has published the figures for the second quarter. Sales in the reporting currency, the euro, rose by 26 percent to 5.26 billion euros. Adjusted for divestments, exchange rate effects and the different number of working days, there was even a growth of 29 percent.
When making this comparison, however, it must be taken into account that the business suffered massively from the measures to combat the corona pandemic in the same period of the previous year. At that time, the volumes decreased by 28 percent compared to the pre-Corona period. In the third quarter it went down by 15 percent, in the fourth by 5 percent. In the first quarter of 2021, the company then found its way back to growth.
As a result, operating profit (EBITA, adjusted) increased to 237 from 75 million. The bottom line was a net profit of 145 after 21 million.
Adecco’s outlook was relatively vague. Sales in June increased organically and adjusted by 23 percent, it said.