PageGroup PLC · LSE:PAGE
PageGroup — Q4 2022 Earnings Presentation
17 slides from PageGroup's earnings presentation, January 2023
Slide 1: Q4 2022 & FY Trading Update
Overview Financial Review Regional Review Summary Q4 2022 & FY Trading Update
Slide 2: Headline Numbers
Overview Financial Review Regional Review Summary Headline Numbers Kelvin Stagg Chief Financial Officer
Slide 3: Record Year
Overview Financial Review Regional Review Summary Record Year Softer trading conditions towards the end of the quarter Gross Profit £266.4m Growth in +3.5% Q4 Constant £246.9m Q4 2021 +20.1% FY 2022 Currency Q4 Gross Profit £1,075.8m Reported +7.9% FY Rates Q4 +22.6% FY 2022 £877.7m FY 2021 +26% +26
Slide 4: Financial Review
Overview Financial Review Regional Review Summary Financial Review
Slide 5: Q4 Perm and Temp Ratio
Overview Financial Review Regional Review Summary Q4 Perm and Temp Ratio Stronger growth in Temporary recruitment 17% 26% 47% 53% +3.5% +1.1% +10.0% 74% 83% Perm Temp Perm Temp Perm Temp • Permanent -0.8% to £197.5m • Permanent -1.3% to £156.8m • Permanent +1.1% to £40.7m • Temporary +18.0% to £68.9
Slide 6: Headcount
Overview Financial Review Regional Review Summary Reduction in fee earners of 128 In response to more challenging conditions Total headcount -1.0% • Decrease in fee earners of 128 (-1.8%) in the Quarter 10,000 • Q4 Fee earners: +21 EMEA, -59 Americas, -64 Asia Pacific, - 26 UK 9,000 8,000 • Producti
Slide 7: More challenging conditions in Q4
Overview Financial Review Regional Review Summary More challenging conditions in Q4 Quarterly gross profit reduced in Q3 and Q4 7000 300 6000 250 5000 Gross Profit (£m) as reported 200 4000 Fee Earners 150 3000 100 2000 50 1000 0 0 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 8: Regional Review
Overview Financial Review Regional Review Summary Regional Review
Slide 9: Q4 Gross Profit +3.5% vs 2021
Overview Financial Review Regional Review Summary Q4 Gross Profit +3.5% vs 2021 Reduction in both candidate and client confidence • Conditions became more challenging as the quarter progressed • Greater China continued to be affected by COVID restrictions and high infection rate • Favourable FX impa
Slide 10: EMEA
Overview Financial Review Regional Review Summary EMEA Germany delivered standout result Reported Constant £M Period 2022 2021 % % Q4 141.2 123.0 +14.8% +11.8% Gross Profit FY 538.0 432.0 +24.5% +25.4% Other 13% • Michael Page +13% France 27% • Page Personnel +10% Benelux • France (14% of the Group)
Slide 11: The Americas
Overview Financial Review Regional Review Summary The Americas Growth slowed through the quarter Reported Constant £M Period 2022 2021 % % Q4 46.5 38.4 +21.2% +6.6% Gross Profit FY 193.4 138.5 +39.6% +26.7% Canada 4% • North America (11% of the Group) +2% Rest of Latam 15% • US (10% of the Group) +2
Slide 12: Asia Pacific
Overview Financial Review Regional Review Summary Asia Pacific Results impacted by Greater China Reported Constant £M Period 2022 2021 % % Q4 43.0 49.1 -12.4% -15.8% Gross Profit FY 195.3 179.3 +8.9% +4.8% • Greater China (4% of the Group) -41% Japan & India Greater • Mainland China -52% 27% China 2
Slide 13: UK
Overview Financial Review Regional Review Summary UK Increased caution amongst candidates and clients Reported £M Period 2022 2021 % Q4 35.7 36.4 -1.9% Gross Profit FY 149.1 127.9 +16.5% Midlands 15% • Page Personnel +31% London • Michael Page -12% 38% South Gross Profit 21% by Geography North 26% N
Slide 14: Summary
Overview Financial Review Regional Review Summary Summary Nicholas Kirk Chief Executive Officer
Slide 15: Summary
Overview Financial Review Regional Review Summary Summary Record year despite softening towards the end of Q4 Gross Profit in constant currencies +3.5% vs Q4 2021 Client and candidate confidence deteriorated towards the end of Q4 Decline in productivity of 12% FY 2022 Operating Profit now expected t
Slide 16: Disclaimer
Disclaimer This presentation contains certain statements that are neither reported financial results nor other historical information. 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
Slide 17: Overview Financial Review Regional Review
Overview Financial Review Regional Review Summary