Pagegroup Plc · LSE:PAGE
Pagegroup — Q4 2016 Earnings Presentation
21 slides from Pagegroup's earnings presentation, January 2017
Slide 1: Q4 2016 and Full Year Trading Update
Q4 2016 and Full Year Trading Update
Slide 2: Agenda
Agenda Financial Review Regional Review Summary and Outlook
Slide 3: Financial Review
Financial Review
Slide 4: Trading Performance – Year-on-Year Gross Profit
Trading Performance – Year-on-Year Gross Profit Reported (£m) Constant 2016 2015 % % Q4 2016 vs. Q4 2015 163.4 135.8 +20.3% +3.8% FY 2016 vs. FY 2015 621.1 556.1 +11.7% +3.0% • Q4 Gross Profit +3.8% vs. Q4 2015 in constant currencies • In reported rates Q4 Gross Profit +20.3%, a record for the Group
Slide 5: Permanent vs Temporary – Year-on-Year Gross Profit
Permanent vs Temporary – Year-on-Year Gross Profit Reported (£m) Constant Q4 2016 2015 % % Permanent 122.4 100.5 +21.8% +5.0% Temporary 41.0 35.3 +16.0% +0.4% Ratio (Perm : Temp) 75:25 74:26 Reported (£m) Constant FY 2016 2015 % % Permanent 469.9 424.0 +10.8% +2.3% Temporary 151.2 132.1 +14.5% +5.2%
Slide 6: Discipline Overview – Year-on-Year Gross Profit
Discipline Overview – Year-on-Year Gross Profit Reported (£m) Constant % of Q4 2016 2015 % % Group Accounting and Financial 38% 62.4 53.3 +17.1% +1.6% Services Legal, Technology, HR, Secretarial 22% 36.6 30.8 +18.9% +1.6% and Healthcare Engineering, Property & Construction, Procurement & 21% 34.1 25
Slide 7: Headcount
Headcount Q4 2016 Q4 2015 Movement % Fee earners 4,711 4,484 +227 +5.1% Support staff 1,388 1,351 +37 +2.7% Total headcount 6,099 5,835 +264 +4.5% Ratio 77:23 77:23 86:14 • Q4 increase in fee earners of 50 (+1.1%) and increase in total headcount of 47 (+0.8%) • Fee earner headcount increased in our
Slide 8: Headcount and Reported Gross Profit - Quarterly
Headcount and Reported Gross Profit - Quarterly Total headcount increased +4.5% vs. Q4 2015 to 6,099 (Q4 2015: 5,835) 8
Slide 9: Headcount and Reported Gross Profit – Full Year
Headcount and Reported Gross Profit – Full Year Record Gross Profit of £621.1m 9
Slide 10: Regional Review
Regional Review
Slide 11: Q4 Regional Overview – Year-on-Year Gross Profit
Q4 Regional Overview – Year-on-Year Gross Profit Reported (£m) Constant % of Q4 2016 2015 % % Group EMEA 47% 76.0 56.0 +35.7% +12.4% UK 21% 33.8 36.2 -6.7% -6.7% Asia Pacific 19% 30.9 24.8 +24.6% +1.7% Americas 13% 22.7 18.8 +20.7% +0.9% Group Total 100% 163.4 135.8 +20.3% +3.8% • 21 countries achie
Slide 12: Full Year Regional Overview – Year-on-Year Gross Profit
Full Year Regional Overview – Year-on-Year Gross Profit Reported (£m) Constant % of FY 2016 2015 % % Group EMEA 44% 271.9 217.0 +25.3% +11.5% UK 24% 146.3 151.6 -3.5% -3.5% Asia Pacific 19% 119.7 109.1 +9.7% -2.2% Americas 13% 83.2 78.4 +6.1% -0.8% Group Total 100% 621.1 556.1 +11.7% +3.0% • 20 coun
Slide 13: EMEA (47% of the Group) – Year-on-Year Gross Profit
EMEA (47% of the Group) – Year-on-Year Gross Profit Reported (£m) Constant 2016 2015 % % Q4 2016 vs. Q4 2015 76.0 56.0 +35.7% +12.4% FY 2016 vs. FY 2015 271.9 217.0 +25.3% +11.5% Headcount at 31 December 2016: 2,553 (31 December 2015: 2,295) • Michael Page (55% of EMEA) +11%, Page Personnel (45% of
Slide 14: United Kingdom (21% of the Group) – Year-on-Year Gross Profit
United Kingdom (21% of the Group) – Year-on-Year Gross Profit Reported (£m) 2016 2015 % Q4 2016 vs. Q4 2015 33.8 36.2 -6.7% FY 2016 vs. FY 2015 146.3 151.6 -3.5% Headcount at 31 December 2016: 1,411 (31 December 2015: 1,516) • Michael Page (77% of the UK) -8% • Page Personnel (23% of the UK) -1% • T
Slide 15: Asia Pacific (19% of the Group) – Year-on-Year Gross Profit
Asia Pacific (19% of the Group) – Year-on-Year Gross Profit Reported (£m) Constant 2016 2015 % % Q4 2016 vs. Q4 2015 30.9 24.8 +24.6% +1.7% FY 2016 vs. FY 2015 119.7 109.1 +9.7% -2.2% Headcount at 31 December 2016: 1,205 (31 December 2015: 1,180) • Asia (13% of Group and 71% of Asia Pacific) -1% • M
Slide 16: Americas (13% of the Group) – Year-on-Year Gross Profit
Americas (13% of the Group) – Year-on-Year Gross Profit Reported (£m) Constant 2016 2015 % % Q4 2016 vs. Q4 2015 22.7 18.8 +20.7% +0.9% FY 2016 vs. FY 2015 83.2 78.4 +6.1% -0.8% Headcount at 31 December 2016: 930 (31 December 2015: 844) • North America (7% of the Group and 54% of Americas) -8% • US
Slide 17: Summary and Outlook
Summary and Outlook
Slide 18: Summary
Summary • Q4 Gross Profit: +3.8% in constant currencies and +20.3% in reported rates Summary • Impact of FX Q4 reported Gross Profit increased by 16.5 percentage points or £22.4m • Many markets performing well Continental Europe and most of Latin America • Some markets experiencing challenging c
Slide 19: Outlook
Outlook • Trading conditions anticipated to remain challenging in the short term Summary Outlook Post UK referendum uncertainty Financial Services market in New York particularly tough (overall Financial Services represents 7% of the Group) Brazil expected to remain challenging Asia continue
Slide 20: Year-on-Year Gross Profit Growth Rates
Year-on-Year Gross Profit Growth Rates 2014 2015 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 EMEA +5.7% +5.1% +11.2% +12.5% +12.1% +11.4% +13.0% +10.6% +10.3% +13.6% +10.4% +12.4% UK +8.1% +11.1% +13.7% +11.0% +11.3% +12.8% +12.5% +2.4% +0.0% -2.3% -4.7% -6.7% Asia Pacific +1.3% +14.2% +11.1% +10.8% +1
Slide 21: Cautionary Statement
Cautionary Statement 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,