Manpowergroup · NYSE:MAN
Manpowergroup — Q4 2020 Earnings Presentation
24 slides from Manpowergroup's earnings presentation, Feb 2, 2021
Slide 1: ManpowerGroup Fourth Quarter Results
ManpowerGroup Fourth Quarter Results | February 2, 2021 Exhibit 99.2
Slide 2: Forward-Looking Statement
FORWARD-LOOKING STATEMENT This presentation contains statements, including statements regarding the anticipated financial and operational impacts of the COVID-19 pandemic and related economic conditions and the Company’s efforts to respond to such impacts, that are forward-looking in nature and, acc
Slide 3: Consolidated Financial Highlights
Consolidated Financial Highlights ManpowerGroup 2020 Fourth Quarter Results As Adjusted figures exclude the impact of restructuring charges of $12.6M ($8.7M net of tax)
Slide 4: Consolidated Financial Highlights
Consolidated Financial Highlights ManpowerGroup 2020 Fourth Quarter Results As Adjusted figures exclude (a) $48.2M ($40.2 net of tax) of restructuring costs in Q1 2020; (b) the impact of goodwill impairment charge of $67M, a software impairment charge of $6M and discrete tax items of $4M in Q2 2020;
Slide 5: EPS Bridge – Q4 vs. Guidance Midpoint
ManpowerGroup 2020 Fourth Quarter Results EPS Bridge – Q4 vs. Guidance Midpoint
Slide 6: Consolidated Gross Margin Change
Consolidated Gross Margin Change ManpowerGroup 2020 Fourth Quarter Results
Slide 7: Trend Business Line Gross Profit – Q4 2020
Trend Business Line Gross Profit – Q4 2020(1) (1) Business line classifications can vary by entity and are subject to change as service requirements change. █ Manpower █ Experis █ Talent Solutions █ ManpowerGroup – Total ManpowerGroup 2020 Fourth Quarter Results
Slide 8: SG&A Expense Bridge – Q4 YoY
SG&A Expense Bridge – Q4 YoY (in millions of USD) ManpowerGroup 2020 Fourth Quarter Results
Slide 9: Americas Segment (20% of Revenue)
Operating Unit Profit (OUP) is the measure that we use to evaluate segment performance. OUP is equal to segment revenues less direct costs and branch and national headquarters operating costs. Americas Segment (20% of Revenue) ManpowerGroup 2020 Fourth Quarter Results
Slide 10: Americas – Q4 Revenue Trend
% of Segment Revenue Americas – Q4 Revenue Trend YoY Average Daily Revenue Trend - CC On an organic basis, both revenue and ADR for the US decreased 5%. (1) ManpowerGroup 2020 Fourth Quarter Results
Slide 11: Southern Europe Segment (46% of Revenue)
Southern Europe Segment (46% of Revenue) ManpowerGroup 2020 Fourth Quarter Results Excludes the impact of restructuring costs of $3.8M ($2.6M net of tax) in Q4 2020.
Slide 12: Southern Europe – Q4 Revenue Trend
Southern Europe – Q4 Revenue Trend YoY % of Segment Revenue Average Daily Revenue Trend - CC ManpowerGroup 2020 Fourth Quarter Results On an organic basis revenue for Southern Europe Other decreased 4% or 8% in constant currency. (1)
Slide 13: Northern Europe Segment (22% of Revenue)
Northern Europe Segment (22% of Revenue) ManpowerGroup 2020 Fourth Quarter Results Excludes the impact of restructuring costs of $8.8M ($6.3M net of tax) in Q4 2020.
Slide 14: Northern Europe – Q4 Revenue Trend
Northern Europe – Q4 Revenue Trend YoY % of Segment Revenue Average Daily Revenue Trend - CC ManpowerGroup 2020 Fourth Quarter Results
Slide 15: APME Segment (12% of Revenue)
APME Segment (12% of Revenue) ManpowerGroup 2020 Fourth Quarter Results
Slide 16: APME – Q4 Revenue Trend
APME – Q4 Revenue Trend YoY % of Segment Revenue Average Daily Revenue Trend - CC (1) ManpowerGroup 2020 Fourth Quarter Results
Slide 17: Cash Flow Summary – Full Year
Cash Flow Summary – Full Year ManpowerGroup 2020 Fourth Quarter Results
Slide 18: Balance Sheet Highlights
Balance Sheet Highlights Total Debt (in millions of USD) Total Debt to Total Capitalization Net (Cash) ManpowerGroup 2020 Fourth Quarter Results
Slide 19: Debt and Credit Facilities – December 31, 2020
Debt and Credit Facilities – December 31, 2020 (in millions of USD) (3) (1)(2) ManpowerGroup 2020 Fourth Quarter Results The $600M agreement requires that we comply with a Leverage Ratio (net Debt-to-EBITDA) of not greater than 3.5 to 1 and a Fixed Charge Coverage Ratio of not less than 1.5 to 1, in
Slide 20: First Quarter 2021 Outlook
First Quarter 2021 Outlook ManpowerGroup 2020 Fourth Quarter Results
Slide 21: Our Acceleration Plan
Our Acceleration Plan – DDI Experis Talent Solutions Manpower Perm and Convenience Diversification Accelerate growth of higher margin business in all brands Push for relentless efficiency and productivity across all brands Global technology implementations Digitization - at an accelerated pace Bette
Slide 22: Key Take Aways
Key Take Aways ManpowerGroup 2020 Fourth Quarter Results
Slide 23: Appendix
Appendix February 2001 2 ManpowerGroup
Slide 24: Industry Vertical Composition – Q4 2020
Industry Vertical Composition – Q4 2020 ManpowerGroup 2020 Fourth Quarter Results Manufacturing, 30.7%