PageGroup PLC · LSE:PAGE
PageGroup — Q4 2012 Earnings Presentation
20 slides from PageGroup's earnings presentation, Jan 15, 2013
Slide 1: Fourth Quarter and Full Year Trading Update
PageGroup Fourth Quarter and Full Year Trading Update | 1 Fourth Quarter and Full Year Trading Update 15th January 2013
Slide 2: Group: Good results in challenging conditions
PageGroup Fourth Quarter and Full Year Trading Update | 2 Group “Good results in challenging conditions” Growth Rates GROUP GROSS PROFIT £m £m Reported Constant Q4 2012 vs Q4 2011 126.5 136.1 -7.0% -3.6% Q4 2012 vs Q3 2012 126.5 126.5 +0.0% +0.2% FY 2012 vs FY 2011 526.8 553.8 -4.9% -1.5% • Gross pr
Slide 3: Group: Year-on-year growth in temp activity
PageGroup Fourth Quarter and Full Year Trading Update | 3 Group “Year-on-year growth in temp activity” Q4 2012 Q4 2011 Growth Rates PERM/TEMP GROSS PROFIT £m £m Reported Constant Permanent 96.6 106.3 -9.1% -5.6% Temporary 29.9 29.8 +0.3% +3.5% Ratio (Perm:Temp) 76:24 78:22 FY 2012 FY 2011 Growth Rat
Slide 4: Headcount reflects gross profit performance
PageGroup Fourth Quarter and Full Year Trading Update | 4 Group “Headcount reflects gross profit performance” GROUP QUARTERLY HEADCOUNT AND GROSS PROFIT 200 6000 4500 Gross Profit (£m) as reported 150 152.4 147.8 141.3 140.3 142.6 138.0 136.1 135.9 128.2 127.3 126.5 126.5 Headcount 123.4 121.0 119.9
Slide 5: Group: Clear benefits from diversification
PageGroup Fourth Quarter and Full Year Trading Update | 5 Group “Clear benefits from diversification” Q4 Q4 Q4 2012 2012 2011 Growth Rates GROSS PROFIT Proportion £m £m Reported Constant Finance & Accounting 42% 53.6 59.0 -9.2% -5.9% Legal, Technology, HR, 21% 26.5 26.9 -1.7% +2.0% Secretarial and H
Slide 6: Group: Year-on-year growth across many of our disciplines
PageGroup Fourth Quarter and Full Year Trading Update | 6 Group “Year-on-year growth across many of our disciplines” FY FY FY 2012 2012 2011 Growth Rates GROSS PROFIT Proportion £m £m Reported Constant Finance & Accounting 42% 220.9 248.0 -10.9% -7.9% Legal, Technology, HR, 20% 106.6 105.6 +1.0% +4.
Slide 7: Group: Market confidence still fragile
PageGroup Fourth Quarter and Full Year Trading Update | 7 Group “Market confidence still fragile” Q4 Q4 Q4 2012 2012 2011 Growth Rates GROSS PROFIT Proportion £m £m Reported Constant EMEA 41% 51.4 61.0 -15.6% -10.9% UK 24% 30.2 30.9 -2.2% -2.2% Asia Pacific 22% 27.9 25.6 +8.9% +10.1% Americas 13% 17
Slide 8: Group: Continued diversification - 77% of gross profits outside UK
PageGroup Fourth Quarter and Full Year Trading Update | 8 Group “Continued diversification - 77% of gross profits outside UK” FY FY FY 2012 2012 2011 Growth Rates GROSS PROFIT Proportion £m £m Reported Constant EMEA 41% 218.4 239.6 -8.9% -2.8% UK 23% 121.3 130.0 -6.6% -6.6% Asia Pacific 22% 114.9 10
Slide 9: Group: Year-on-year quarterly growth rates
PageGroup Fourth Quarter and Full Year Trading Update | 9 Group “Year-on-year quarterly growth rates” 2012 vs 2011 Q1 Q2 Q3 Q4 EMEA +10.1% -2.5% -7.2% -10.9% UK -3.7% -9.2% -10.9% -2.2% Asia Pacific +17.8% +11.2% +2.6% +10.1% Americas +7.6% -8.6% -10.3% -1.1% Group Total +7.6% -2.5% -6.5% -3.6% • Ye
Slide 10: EMEA permanent recruitment impacted by lack of confidence
PageGroup Fourth Quarter and Full Year Trading Update | 10 EMEA “EMEA permanent recruitment impacted by lack of confidence” Growth Rates EMEA GROSS PROFIT £m £m Reported Constant Q4 2012 vs Q4 2011 51.4 61.0 -15.6% -10.9% Q4 2012 vs Q3 2012 51.4 49.0 +4.9% +3.7% Headcount down 67 (-3.2%) at 2,040 (Q
Slide 11: EMEA: Headcount reacting to gross profit performance
PageGroup Fourth Quarter and Full Year Trading Update | 11 EMEA “Headcount reacting to gross profit performance” EMEA QUARTERLY HEADCOUNT AND GROSS PROFIT 80 2400 Gross Profit (£m) as reported 70.2 64.1 65.2 63.7 61.0 60.3 59.7 58.3 57.6 56.2 Headcount 52.8 51.4 49.0 47.6 46.7 40 1200 44.6 44.6 42.2
Slide 12: United Kingdom: Sequential increase in gross profit
PageGroup Fourth Quarter and Full Year Trading Update | 12 United Kingdom “Sequential increase in gross profit” Growth UK GROSS PROFIT £m £m Rates Q4 2012 vs Q4 2011 30.2 30.9 -2.2% Q4 2012 vs Q3 2012 30.2 29.5 +2.5% Headcount down 28 (-2.2%) to 1,237 (Q3 2012: 1,265) • Resilient and profitable perf
Slide 13: UK: Reduction in headcount reflects tough market conditions
PageGroup Fourth Quarter and Full Year Trading Update | 13 United Kingdom “Reduction in headcount reflects tough market conditions” UK QUARTERLY HEADCOUNT AND GROSS PROFIT 60 2000 Gross Profit (£m) as reported 45 1500 48.5 47.1 Headcount 45.0 36.1 34.3 30 1000 33.1 33.0 32.3 31.1 31.7 30.7 30.6 30.9
Slide 14: Asia Pacific: Year-on-year growth continues
PageGroup Fourth Quarter and Full Year Trading Update | 14 Asia Pacific “Year-on-year growth continues” Growth Rates ASIA PACIFIC GROSS PROFIT £m £m Reported Constant Q4 2012 vs Q4 2011 27.9 25.6 +8.9% +10.1% Q4 2012 vs Q3 2012 27.9 30.2 -7.6% -6.1% Headcount down 18 (-1.7%) to 1,036 (Q3 2012: 1,054
Slide 15: Asia Pacific: Another strong quarter despite market conditions
PageGroup Fourth Quarter and Full Year Trading Update | 15 Asia Pacific “Another strong quarter despite market conditions” ASIA PACIFIC QUARTERLY HEADCOUNT AND GROSS PROFIT 40 1200 Gross Profit (£m) as reported 30 900 30.6 30.2 29.2 27.9 27.2 Headcount 26.3 25.6 20 600 21.4 20.7 20.3 19.6 18.4 18.0
Slide 16: Americas: Market conditions remain difficult in Brazil and North America
PageGroup Fourth Quarter and Full Year Trading Update | 16 Americas “Market conditions remain difficult in Brazil and North America” Growth Rates AMERICAS GROSS PROFIT £m £m Reported Constant Q4 2012 vs Q4 2011 17.0 18.6 -8.7% -1.1% Q4 2012 vs Q3 2012 17.0 17.8 -4.8% -2.6% Headcount down 43 (-5.2%)
Slide 17: Americas: Brazil, 6% of Group, further impacted by exchange rates
PageGroup Fourth Quarter and Full Year Trading Update | 17 Americas “Brazil, 6% of Group, further impacted by exchange rates” AMERICAS QUARTERLY HEADCOUNT AND GROSS PROFIT 30 900 Gross Profit (£m) as reported 22.3 22.0 20 600 Headcount 18.7 18.7 18.6 18.0 17.8 17.0 15.6 14.9 14.7 14.3 14.1 10 300 11
Slide 18: Financials: Strong financial position
PageGroup Fourth Quarter and Full Year Trading Update | 18 Financials “Strong financial position” • Strong net cash at 31 December 2012 in the region of £58m (£58.2m 31 December 2011) • New recruitment software to be implemented in 2013 – operating efficiencies expected from software rollout • Intan
Slide 19: Cautionary Statement
PageGroup Fourth Quarter and Full Year Trading Update | 19 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 count
Slide 20: PageGroup Fourth Quarter and Full Year Trading Update | 20
PageGroup Fourth Quarter and Full Year Trading Update | 20