Slide 1: Preliminary results 2010
Preliminary results 2010 31 March 2011 Miles Hunt – Chief Executive Spencer Wreford – Finance Director
Slide 2: Cautionary Statement
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 distribution or use would be contrary to law
Slide 3: Trading highlights
Trading highlights • Revenue growth of 17% • Net fee income growth of 21% • Adjusted PBT up 94% to £6.8m • Growth across all reporting regions • Strong cash generation of £8.3m • Reduction in net debt to £6.1m • Increasing materiality of profit contribution from Asian companies • Investment in new c
Slide 4: Strategy and Structure
Strategy and Structure • Developing a leading international specialist staffing group • Balanced growth and managed risk • Diversified portfolio by geography and sector • Investment emphasis on developing staffing markets and emerging economies • Focus on more stable temporary staffing revenues • Mu
Slide 5: Financial highlights
Financial highlights 2010 2009 % change £'m £'m Financial highlights Revenue 223.4 190.5 17% Gross profit 49.0 40.6 21% Adjusted operating profit * 7.8 4.3 81% Adjusted profit before tax * 6.8 3.5 94% Adjusted earnings per share *# 6.2p 3.1p 100% Net debt (6.1) (8.0) * Adjusted to exclude amortisati
Slide 6: Income statement – Year to 31 December 2010
Income statement – Year to 31 December 2010 Income statement £m 2010 2009 Change Revenue increased by 17%, with a 15% increase Revenue 223.4 190.5 17% in temporary sales and 58% in permanent sales. There was minimal currency impact (like-for-like Net fee Income/ Gross profit 49.0 40.6 21% revenues w
Slide 7: Income statement – Profit bridge
Income statement – Profit bridge Empresaria Group - Adjusted profit before tax bridge (£'000) 12,000 11,000 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 PBT (Adj) 2009 UK NFI growth Europe NFI growth ROW NFI growth Overheads and finance PBT (Adj) 2010 costs 7
Slide 8: Balance sheet – December 2010
Balance sheet – December 2010 £m 2010 2009 Property, plant & equipment 1.9 2.0 Goodwill and intangibles 28.9 29.2 Deferred tax asset 1.0 0.5 Call option asset 0.9 0.5 32.7 32.2 Average debtor days 52 (2009: 53) Trade and other receivables 31.0 28.5 with debtor book increasing through Cash and bank b
Slide 9: Cash flow – Year to December 2010
Cash flow – Year to December 2010 Cash flow statement £m 2010 Profit for the period 4.6 Depreciation and amortisation 1.1 Tax and interest added back 3.1 Profit on disposal of subsidiary (0.3) Working capital (0.2) Cash generated from operations was £8.3m Cash generated from operations 8.3 Tax, inte
Slide 10: Regional review - Overview
Regional review - Overview Revenue (£m) NFI (£m) Adjusted operating profit (£m) 100.0 4.0 20.0 3.5 80.0 3.0 15.0 60.0 2.5 2.0 10.0 40.0 1.5 5.0 1.0 20.0 0.5 0.0 0.0 0.0 UK Continental Rest of the UK Continental Rest of the UK Continental Rest of the Europe World Europe World Europe World 2009 2010 2
Slide 11: Regional split
Regional split 2010 (2009) Net Fee Income by region 1% 1% 2% 3% 2% 4% 6% 21% (19%) 35% (35%) 40% 6% 45% (46%) 35% UK Continental Europe Rest of the world Germany UK Japan Indonesia Finland/Estonia Chile Australia India China Other 11
Slide 12: Outlook
Outlook • All regions experiencing broadly positive market conditions • Short term outlook subject to some uncertainty • German Federal Labour Court ruling on validity of collective bargaining arrangements • Japanese earthquake • Group is well positioned to benefit from its exposure to growing marke
Slide 13: Appendices
Empresaria Group plc International Specialist Temporary & Permanent Staffing Group Appendices
Slide 14: Management team
Management team The Board of Directors Miles Hunt Spencer Wreford Tony Martin Zach Miles Penny Freer CEO FD Chairman Non-exec director Non-exec director 13 years industry Over 10 years senior Over 20 years Over 20 years 5 years industry experience finance experience industry experience industry expe
Slide 15: Directors
Directors Tony Martin (Chairman) Tony served as Chairman and CEO of Select Appointments (Holdings) Limited from 1992 to 1999 when he became Vice Chairman and member of the Board of Management of Vedior NV, the world’s third largest staffing services group. In August 2000 he assumed the role of Chair
Slide 16: Shareholder information
Shareholder information Shareholder Number of % of total shares (m) Caledonia Investments plc 10.3 23 Tony Martin 9.2 21 Miles Hunt 4 9 Liontrust Asset Management 3.1 7 Ennismore Fund Management 2.9 7 T J D Sheffield 2 5 Notes: Other directors hold 30,000 shares Total number of shares in issue is 44