PageGroup PLC · LSE:PAGE
PageGroup — Q1 2017 Earnings Presentation
20 slides from PageGroup's earnings presentation, Jun 6, 2017
Slide 1: First Quarter 2017 Trading Update
First Quarter 2017 Trading Update
Slide 2: Agenda
Agenda Financial Review Regional Review Summary and Outlook
Slide 3: Financial Review
Financial Review
Slide 4: Trading Performance
Trading Performance Reported (£m) Constant 2017 2016 % % Q1 2017 vs Q1 2016 170.3 142.2 +19.7% +9.1% • Gross Profit +9.1% vs Q1 2016 in constant currencies • In reported rates, Gross Profit +19.7%, a record for the Group at £170.3m (£15.2m currency benefit) • In constant currencies, Gross Profit was
Slide 5: Permanent vs Temporary – Year-on-Year Gross Profit
Permanent vs Temporary – Year-on-Year Gross Profit Reported (£m) Constant Q1 2017 2016 % % Permanent 128.0 107.2 +19.3% +8.5% Temporary 42.3 35.0 +20.8% +10.7% Ratio (Perm : Temp) 75:25 75:25 • Perm : Temp ratio maintained at 75:25 • Strong performances from both permanent and temporary recruitment
Slide 6: Discipline Overview – Year-on-Year Gross Profit
Discipline Overview – Year-on-Year Gross Profit Reported (£m) Constant % of Q1 2017 2016 % % Group Accounting and Financial 38% 65.2 55.2 +17.9% +7.8% Services Legal, Technology, HR, Secretarial 22% 37.5 32.0 +17.2% +6.2% and Healthcare Engineering, Property & Construction, Procurement & 21% 35.8 27
Slide 7: Headcount and Investment
Headcount and Investment Q1 2017 Q4 2016 Movement % Fee earners 4,809 4,711 +98 +2.1% Support staff 1,405 1,388 +17 +1.3% Total headcount 6,214 6,099 +115 +1.9% Ratio 77:23 77:23 • Fee earner headcount responds to trading conditions, +62 in EMEA, -9 in the UK • Fee earner headcount was added in our
Slide 8: Headcount and Reported Gross Profit
Headcount and Reported Gross Profit Total headcount increased 1.9% vs. Q4 2016 to 6,214 (Q4 2016: 6,099) 8
Slide 9: Regional Review
Regional Review
Slide 10: Q1 Regional Overview - Year-on-Year Gross Profit
Q1 Regional Overview - Year-on-Year Gross Profit Reported (£m) Constant % of Q1 2017 2016 % % Group EMEA 46% 78.6 61.6 +27.6% +14.8% UK 22% 36.4 36.4 -0.1% -0.1% Asia Pacific 18% 30.8 25.9 +18.8% +3.9% Americas 14% 24.5 18.3 +33.8% +15.2% Group Total 100% 170.3 142.2 +19.7% +9.1% • 11 countries deli
Slide 11: EMEA (46% of the Group) - Year-on-Year Gross Profit
EMEA (46% of the Group) - Year-on-Year Gross Profit Reported (£m) Constant 2017 2016 % % Q1 2017 vs Q1 2016 78.6 61.6 +27.6% +14.8% Headcount at 31 March 2017: 2,628 (31 December 2016: 2,553) • Michael Page (55% of EMEA) +12%, Page Personnel (45% of EMEA) +18% • France (15% of Group) +26% - Michael
Slide 12: United Kingdom (22% of the Group) - Year-on-Year Gross Profit
United Kingdom (22% of the Group) - Year-on-Year Gross Profit Reported (£m) 2017 2016 % Q1 2017 vs Q1 2016 36.4 36.4 -0.1% Headcount at 31 March 2017: 1,405 (31 December 2016: 1,411) • Michael Page (78% of the UK) flat • Page Personnel (22% of the UK) -1% • Strong performances from our technical dis
Slide 13: Asia Pacific (18% of the Group) - Year-on-Year Gross Profit
Asia Pacific (18% of the Group) - Year-on-Year Gross Profit Reported (£m) Constant 2017 2016 % % Q1 2017 vs Q1 2016 30.8 25.9 +18.8% +3.9% Headcount at 31 March 2017: 1,238 (31 December 2016: 1,205) • Asia (13% of Group and 70% of Asia Pacific) +3.6% • Greater China (57% of Asia) +6% • Good growth i
Slide 14: Americas (14% of the Group) - Year-on-Year Gross Profit
Americas (14% of the Group) - Year-on-Year Gross Profit Reported (£m) Constant 2017 2016 % % Q1 2017 vs Q1 2016 24.5 18.3 +33.8% +15.2% Headcount at 31 March 2017: 943 (31 December 2016: 930) • North America (8% of the Group and 57% of Americas) +13% • US +16%, a record quarter • US Fee Earner headc
Slide 15: Summary and Outlook
_ Summary and Outlook
Slide 16: Summary
Summary • Q1 Gross Profit: +9.1% in constant currencies and +19.7% in reported rates Summary • Impact of FX Q1 reported Gross Profit increased by 10.6 percentage points or c. £15m • Majority of markets performing well Continental Europe, Latin America (excluding Brazil), South East Asia (excludi
Slide 17: Outlook
Outlook • Large, High-Potential Markets US continues to diversify Outlook Summary Investment in LatAm excluding Brazil Investment in South East Asia excluding Singapore Germany focus on Page Interim and Page Personnel Greater China focus on Mainland China • Strong growth businesses Conti
Slide 18: 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,
Slide 19: Year-on-Year Gross Profit Growth Rates
Year-on-Year Gross Profit Growth Rates 2015 2016 2017 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 EMEA +12.1% +11.4% +13.0% +10.6% +10.3% +13.6% +10.4% +12.4% +14.8% UK +11.3% +12.8% +12.5% +2.4% +0.0% -2.3% -4.7% -6.7% -0.1% Asia Pacific +10.8% +5.6% +5.3% -1.3% -2.0% -3.3% -4.7% +1.7% +3.9% -Asia +14.1% +8.8% +9.2
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