Slide 1: ManpowerGroup 2nd Quarter Results
ManpowerGroup 2011 2 nd Quarter Results July 2011 ManpowerGroup 2 nd Quarter July 21, 2011
Slide 2: Forward-Looking Statement
ManpowerGroup 2011 2 nd Quarter Results July 2011 Forward-Looking Statement This presentation includes forward-looking statements, including earnings projections which are subject to risks and uncertainties. Actual results might differ materially from those projected in the forward-looking statement
Slide 3: Q2 Financial Highlights - Consolidated
ManpowerGroup 2011 2 nd Quarter Results July 2011 Q2 Financial Highlights 24% Revenue $5.7B 12% CC 40 bps Gross Margin 17.0% 91% Operating Profit $151M 67% CC 100 bps OP Margin 2.7% 118% EPS $0.87 90% CC Throughout this presentation, the difference between reported variances and Constant Currency (C
Slide 4: Consolidated Gross Margin Change
ManpowerGroup 2011 2 nd Quarter Results July 2011 Consolidated Gross Margin Change
Slide 5: Q2 Financial Highlights - Americas Segment
ManpowerGroup 2011 2 nd Quarter Results July 2011 Q2 Financial Highlights 13% Revenue $1.2B 12% CC 69% OUP $40M 67% CC 110 bps OUP Margin 3.4% Americas Segment (21% of Revenue) (1) Included in these amounts is the US, which had revenue of $792M (+9%) and OUP of $27M (+85%). Operating Unit Profit (OU
Slide 6: Americas - Q2 Revenue Growth YoY
ManpowerGroup 2011 2 nd Quarter Results July 2011 Americas - Q2 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment Revenue 68% 12% 6% 14%
Slide 7: Q2 Financial Highlights - Southern Europe Segment
ManpowerGroup 2011 2 nd Quarter Results July 2011 111 Q2 Financial Highlights 30% Revenue $2.2B 15% CC 95% OUP $50M 72% CC 80 bps OUP Margin 2.3% Southern Europe Segment (38% of Revenue) (1) (1) Included in these amounts is France, which had revenue of $1.6B (+15% CC) and OUP of $25M (+118% CC).
Slide 8: Southern Europe - Q2 Revenue Growth YoY
ManpowerGroup 2011 2 nd Quarter Results July 2011 Southern Europe - Q2 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment Revenue 75% 16% 5% 4%
Slide 9: Q2 Financial Highlights - Northern Europe Segment
ManpowerGroup 2011 2 nd Quarter Results July 2011 Q2 Financial Highlights 24% Revenue $1.6B 9% CC 97% OUP $56M 72% CC 130 bps OUP Margin 3.6% Northern Europe Segment (28% of Revenue)
Slide 10: Northern Europe - Q2 Revenue Growth YoY
ManpowerGroup 2011 2 nd Quarter Results July 2011 Northern Europe - Q2 Revenue Growth YoY Revenue Growth - CC Revenue Growth
Slide 11: Q2 Financial Highlights - APME Segment
ManpowerGroup 2011 2 nd Quarter Results July 2011 Q2 Financial Highlights 31% Revenue $663M 16% CC 59% OUP $19M 43% CC 50 bps OUP Margin 2.8% APME Segment (12% of Revenue)
Slide 12: APME - Q2 Revenue Growth YoY
ManpowerGroup 2011 2 nd Quarter Results July 2011 APME - Q2 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment Revenue 43% 28% 29% (1) On an organic basis, Other revenue growth was 23% (+16% CC). (1)
Slide 13: Q2 Financial Highlights - Right Management Segment
ManpowerGroup 2011 2 nd Quarter Results July 2011 Q2 Financial Highlights 14% Revenue $85M 20% CC 64% OUP $3M 64% CC 460 bps OUP Margin 3.3% Right Management Segment (1% of Revenue)
Slide 14: Cash Flow Summary - First Half
ManpowerGroup 2011 2 nd Quarter Results July 2011 ($ in millions) 2011 2010 Cash from Operations (192) (66) Capital Expenditures (28) (28) Free Cash Flow (220) (94) Change in Debt 4 (5) Share Repurchases (19) - Acquisitions of Business net of cash acquired (15) (259) Effect of Exchange Rate Changes
Slide 15: Balance Sheet Highlights
ManpowerGroup 2011 2 nd Quarter Results July 2011 Balance Sheet Highlights Total Debt ($ in millions) Total Debt to Total Capitalization Total Debt Net Debt
Slide 16: Credit Facilities as of June 30, 2011
ManpowerGroup 2011 2 nd Quarter Results July 2011 (b) Credit Facilities as of June 30, 2011 ($ in millions) (a) (a) This $400M agreement requires, as of June 30, that we comply with a Debt-to-EBITDA ratio of less than 3.75 to 1 and a fixed charge coverage ratio of greater than 1.35 to 1. As defined
Slide 17: Third Quarter Outlook
ManpowerGroup 2011 2 nd Quarter Results July 2011 Revenue Total Up 16-18% (Up 8-10% CC) Americas Up 8-10% (Up 6-8% CC) Southern Europe Up 19-21% (Up 9-11% CC) Northern Europe Up 17-19% (Up 7-9% CC) APME Up 25-27% (Up 14-16% CC) Right Management Down 4-6% (Down 9-11% CC) Gross Profit Margin 16.5 - 16
Slide 18: Our brand and messages are resonating worldwide
ManpowerGroup 2011 2 nd Quarter Results July 2011 — South African newspaper, The Star — Milwaukee Journal- Sentinel “Group is more contemporary” — Deborah Mitchell, marketing professor, University Wisconsin- Madison — HR Asia magazine — Jonathan Schroeder, communications professor, Rochester Institu
Slide 19: Gross Profit Development - Q2 2011
ManpowerGroup 2011 2 nd Quarter Results July 2011 Gross Profit Growth in CC % Gross Profit Development - Q2 2011 █ Staffing █ Professional Resourcing █ Permanent Recruitment (excluding RPO) █ ManpowerGroup Solutions █ Talent & Career Management █ ManpowerGroup - Total
Slide 20: Employers foresee a more flexible and virtual labor force
ManpowerGroup 2011 2 nd Quarter Results July 2011 Employers foresee a more flexible and virtual labor force How will your company’s workforce change over the next 5 years? % of respondents (n = 2,000) Source: McKinsey Global Institute US Jobs Survey, 2011; McKinsey Global Institute analysis More tel
Slide 21: Questions
Questions