Pagegroup Plc · LSE:PAGE
Pagegroup — Q2 2013 Earnings Presentation
19 slides from Pagegroup's earnings presentation, Jul 16, 2013
Slide 1: Second Quarter Trading Update
PageGroup First Quarter Interim Management Statement | 1 Second Quarter Trading Update 16 July 2013
Slide 2: Group Gross profit up sequentially
PageGroup Second Quarter 2013 Trading Update | 2 Group Gross profit up sequentially Growth Rates GROUP GROSS PROFIT £m £m Reported Constant Q2 2013 vs Q2 2012 135.2 138.0 -2.0% -3.8% Q2 2013 vs Q1 2013 135.2 126.8 +6.6% +6.9% H1 2013 vs H1 2012 262.0 273.9 -4.3% -5.2% • Gross profit up 7% sequential
Slide 3: Improving growth rates in both perm and temp markets
PageGroup Second Quarter 2013 Trading Update | 3 Group Improving growth rates in both perm and temp markets Q2 2013 Q2 2012 Growth Rates PERM/TEMP GROSS PROFIT £m £m Reported Constant Permanent 105.2 109.2 -3.7% -5.3% Temporary 30.0 28.8 +4.2% +1.9% Ratio (Perm:Temp) 78:22 79:21 H1 2013 H1 2012 Grow
Slide 4: Headcount reflects market conditions and focus on operational support consistency
PageGroup Second Quarter 2013 Trading Update | 4 Headcount reflects market conditions and our focus on operational Group support consistency GROUP QUARTERLY HEADCOUNT AND GROSS PROFIT
Slide 5: Discipline diversity helping overall performance
PageGroup Second Quarter 2013 Trading Update | 5 Group Discipline diversity helping overall performance Q2 Q2 Q2 2013 2013 2012 Growth Rates GROSS PROFIT Proportion £m £m Reported Constant Finance & Accounting 42% 57.0 57.6 -1.0% -2.7% Legal, Technology, HR, 21% 27.8 27.8 -0.0% -1.5% Secretarial and
Slide 6: Diversification reduces exposure to regional changes in market conditions
PageGroup Second Quarter 2013 Trading Update | 6 Diversification reduces exposure to regional changes in market Group conditions Q2 Q2 Q2 2013 2013 2012 Growth Rates GROSS PROFIT Proportion £m £m Reported Constant EMEA 41% 55.1 57.6 -4.4% -8.2% UK 23% 31.2 31.1 +0.3% +0.3% Asia Pacific 21% 28.2 30.6
Slide 7: Year-on-year quarterly growth rates improving in 7% of the Group
PageGroup Second Quarter 2013 Trading Update | 7 Group Year-on-year quarterly growth rates improving in 77% of the Group 2012 vs 2011 2013 vs 2012 Q1 Q2 Q3 Q4 Q1 Q2 EMEA +10.1% -2.5% -7.2% -10.9% -15.0% -8.2% UK -3.7% -9.2% -10.9% -2.1% -1.2% +0.3% Asia Pacific +17.8% +11.2% +2.6% +10.1% -0.3% -8.0%
Slide 8: EMEA growth rates improved – up 6% sequentially
PageGroup Second Quarter 2013 Trading Update | 8 EMEA EMEA growth rates improved – up 6% sequentially Growth Rates EMEA GROSS PROFIT £m £m Reported Constant Q2 2013 vs Q2 2012 55.1 57.6 -4.4% -8.2% Q2 2013 vs Q1 2013 55.1 52.1 +5.8% +5.8% H1 2013 vs H1 2012 107.2 117.9 -9.1% -11.7% Headcount down 83
Slide 9: EMEA headcount and gross profit
PageGroup Second Quarter 2013 Trading Update | 9 Headcount reacting to gross profit and focus on consistency of systems EMEA and processes EMEA QUARTERLY HEADCOUNT AND GROSS PROFIT
Slide 10: United Kingdom confidence gradually improving
PageGroup Second Quarter 2013 Trading Update | 10 United Kingdom Confidence gradually improving : year-on-year and sequential growth Growth UK GROSS PROFIT £m £m Rates Q2 2013 vs Q2 2012 31.2 31.1 +0.3% Q2 2013 vs Q1 2013 31.2 30.2 +3.4% H1 2013 vs H1 2012 61.4 61.7 -0.4% Headcount down 5 (-0.4%) to
Slide 11: UK headcount remains flat, in line with gross profit
PageGroup Second Quarter 2013 Trading Update | 11 United Kingdom Headcount remains flat, in line with gross profit UK QUARTERLY HEADCOUNT AND GROSS PROFIT
Slide 12: Asia Pacific: Australia challenging, balanced by growth in Asia
PageGroup Second Quarter 2013 Trading Update | 12 Asia Pacific Australia remains challenging, balanced by growth in Asia Growth Rates ASIA PACIFIC GROSS PROFIT £m £m Reported Constant Q2 2013 vs Q2 2012 28.2 30.6 -7.7% -8.0% Q2 2013 vs Q1 2013 28.2 26.1 +8.0% +9.4% H1 2013 vs H1 2012 54.3 56.9 -4.5%
Slide 13: Asia Pacific headcount and gross profit
PageGroup Second Quarter 2013 Trading Update | 13 Headcount flat, reflecting investment in Asia and gross profit Asia Pacific performance in Australia ASIA PACIFIC QUARTERLY HEADCOUNT AND GROSS PROFIT
Slide 14: Americas: all businesses up sequentially
PageGroup Second Quarter 2013 Trading Update | 14 Americas All businesses in region up sequentially Growth Rates AMERICAS GROSS PROFIT £m £m Reported Constant Q2 2013 vs Q2 2012 20.7 18.7 +10.7% +9.8% Q2 2013 vs Q1 2013 20.7 18.4 +12.0% +12.3% H1 2013 vs H1 2012 39.1 37.4 +4.6% +5.9% Headcount down
Slide 15: Strong quarter from Americas, particularly North America
PageGroup Second Quarter 2013 Trading Update | 15 Americas Strong quarter from region, particularly North America AMERICAS QUARTERLY HEADCOUNT AND GROSS PROFIT
Slide 16: Strong financial position
PageGroup Second Quarter 2013 Trading Update | 16 Financials Strong financial position • Strong net cash at 30 June 2013 in the region of £47m • 2012 final dividend of 6.75p per share paid on 21 June (£20.8m) • 319m shares outstanding at 30 June 2013 (of which 11m are held in EBT) • 24m share option
Slide 17: Positioning the Group to deliver long-term profitable growth
PageGroup Second Quarter 2013 Trading Update | 17 Financials Positioning the Group to deliver long-term profitable growth • A robust first half • Continuing to invest for growth in key markets – Asia, Germany and the Americas • Continued focus on operational support consistency • Positioning the Gro
Slide 18: Cautionary Statement
PageGroup Second Quarter 2013 Trading Update | 18 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
Slide 19: PageGroup First Quarter Interim Management Statement | 19
PageGroup First Quarter Interim Management Statement | 19