PageGroup PLC · LSE:PAGE
PageGroup — H1 2014 Earnings Presentation
11 slides from PageGroup's earnings presentation, Sep 28, 2014
Slide 1: Half year results 2014
PageGroup Half year results 2014 Worldwide leaders in specialist recruitment page.com
Slide 2: Group Financial Highlights HY 2014
PageGroup 2014 half year results | 2 Financial Review HY 2014 Group Financial Highlights HY 2014 vs HY 2013 CER* Revenue £512.2m 1.8% 8.3% Gross Profit £263.7m 0.7% 7.9% Operating Profit £35.7m 11.0% 21.4% Profit Before Tax £35.6m 11.1% Basic EPS 7.60p 8.6% Interim Dividend 3.42p 5.2% Net Cash £42.9
Slide 3: 2014 FX Impact: Change since March guidance
PageGroup 2014 half year results | 3 Financial Review 2014 FX Impact: Change since March guidance H1 H2 FY Primarily Gross Profit -£17m -£7m -£24m Brazil, As at March Australia, Operating Japan Profit -£3m -£1m -£4m Gross Profit -£19m -£14m -£33m As at June All currencies Operating Profit -£3m -£3m
Slide 4: Income Statement
PageGroup 2014 half year results | 4 Financial Review Income Statement H1 H1 Constant 2014 2013 currency £m £m Change change Revenue 512.2 503.2 +1.8% +8.3% Gross Profit 263.7 261.9 +0.7% +7.9% Operating Profit 35.7 32.1 +11.0% +21.4% Net Interest expense (0.1) (0.1) Profit before tax 35.6 32.0 +11.
Slide 5: Conversion by region
PageGroup 2014 half year results | 5 Financial Review Conversion by region H1 2014 H1 2013 Gross Operating Conversion Gross Operating Conversion Profit Profit Rate Profit Profit Rate GROUP £263.7m £35.7m 13.5% £261.9m £32.1m 12.3% EMEA £107.5m £14.7m 13.7% £107.1m £10.4m 9.7% UK £67.6m £10.8m 16.0%
Slide 6: Other Items: Depreciation & Amortisation, Capital Expenditure
PageGroup 2014 half year results | 6 Financial Review Other Items: Depreciation & Amortisation, Capital Expenditure H1 2014 H1 2013 Depreciation £4.4m £6.0m Amortisation £4.8m £2.1m Total £9.2m £8.1m Capex £6.6m £6.9m
Slide 7: Strong balance sheet with £43m in cash at 30 June 2014
PageGroup 2014 half year results | 7 Financial Review Strong balance sheet with £43m in cash at 30 June 2014 30 June 30 June 2014 2013 BALANCE SHEET £m £m Intangible assets 41.0 44.6 Tangible assets 23.1 27.5 64.1 72.1 Trade and other receivables 209.5 202.8 Trade, other payables, current and deferr
Slide 8: Cash flow: Net cash decreased by £42m
PageGroup 2014 half year results | 8 Financial Review Cash flow: Net cash decreased by £42m HY HY 2014 2013 Movement in net cash (£m) (41.7) (14.6) 120 25.9 48.6 100 13.0 6.4 80 22.9 60 85.4 22.2 0.7 40 42.9 20 Dec 2013 EBITDA Working Capital Tax and net interest Net Capex Net option Dividends Paid
Slide 9: Interim dividend increased to 3.42p
PageGroup 2014 half year results | 9 Financial Review Interim dividend increased to 3.42p HY 2014 HY 2014 HY 2013 HY 2013 DIVIDENDS (pence per share) £m (pence per share) £m Interim 3.42 10.5 3.25 10.0 • Interim Dividend increased by 5.2% • Payable to Shareholders on 3 October
Slide 10: Outlook
PageGroup 2014 half year results | 10 Financial Review Outlook • Market conditions to remain challenging in Brazil and France, with Australia stabilising • Leading KPIs positive at start of H2 • Subject to movements in foreign exchange and changes in market conditions • Expect to perform in line wit
Slide 11: Cautionary Statement
PageGroup 2013 full year results | 11 Cautionary Statement The information contained in this presentation is not audited, is for personal use and informational purposes only and is not intended for distribution to, or use by, any person or entity in any jurisdiction in any country where such distrib