Slide 1: ManpowerGroup 3rd Quarter
ManpowerGroup 3 rd Quarter October 19, 2012
Slide 2: Forward-Looking Statement
Forward-Looking Statement This presentation includes forward-looking statements, including earnings projections which are subject to risks and uncertainties. Actual results might differ materially from those projected in the forward-looking statements. Additional information concerning factors that
Slide 3: Consolidated Financial Highlights
As Reported Q3 Financial Highlights 11% Revenue $5.2B 4% CC 10 bps Gross Margin 16.6% 25% Operating Profit $119M 19% CC 40 bps OP Margin 2.3% 19% EPS $.79 12% CC Throughout this presentation, the difference between reported variances and Constant Currency (CC) variances represents the impact of curr
Slide 4: Consolidated Gross Margin Change
Consolidated Gross Margin Change +01% + 0.2% +0.1% +0.1% a 16.69 Hoe m= ™ : Q3 2011 Temporary ManpowerGroup Outplacement Currency Q3 2012 Recruitment Solutions
Slide 5: Business Line Gross Profit - Q3 2012
Growth Business Line Gross Profit - Q3 2012 █ ManpowerGroup Solutions █ Right Management
Slide 6: SG&A Expense Bridge - Q3 YoY
SG&A Expense Bridge - Q3 YoY (in millions of USD) 9.0 03.2011 Currency Operational Impact 93 2012 Impact
Slide 7: Americas Segment
As Reported Q3 Financial Highlights 5% Revenue $1.1B 3% CC 17% OUP $35M 16% CC 40 bps OUP Margin 3.1% (1) Americas Segment (22% of Revenue) (1) Included in these amounts is the US, which had revenue of $761M (-8%) and OUP of $25M (-24%). Operating Unit Profit (OUP) is the measure that we use to eval
Slide 8: Americas - Q3 Revenue Growth YoY
Americas - Q3 Revenue Growth YoY
Slide 9: Southern Europe Segment
As Reported Q3 Financial Highlights 17% Revenue $1.8B 6% CC 42% OUP $29M 34% CC 70 bps OUP Margin 1.6% (1) Southern Europe Segment (35% of Revenue) (1) Included in these amounts is France, which had revenue of $1.4B (-6% CC) and OUP of $18M (-28% CC). On an organic basis, France revenue decreased 18
Slide 10: Southern Europe - Q3 Revenue Growth YoY
Southern Europe - Q3 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment Revenue 76% 14% 5% 5% (1) (1) On an organic basis, France revenue decreased 18% (-8% in CC).
Slide 11: Northern Europe Segment
As Reported Q3 Financial Highlights 11% Revenue $1.4B 3% CC 32% OUP $43M 28% CC 90 bps OUP Margin 3.0% Northern Europe Segment (28% of Revenue)
Slide 12: Northern Europe - Q3 Revenue Growth YoY
Northern Europe - Q3 Revenue Growth YoY
Slide 13: APME Segment
As Reported Q3 Financial Highlights 2% Revenue $688M 0% CC 4% OUP $21M 2% CC 10 bps OUP Margin 3.0% APME Segment (13% of Revenue)
Slide 14: APME Revenue Growth by Country
~ % of Segment Revenue 43% Japan 25% Australia/NZ 32% Other M@ RevenueGrowth ff RevenueGrowth- CC
Slide 15: Right Management Segment
As Reported Q3 Financial Highlights 3% Revenue $80M 6% CC N/A OUP $6M N/A 940 bps OUP Margin 7.0% Right Management Segment (2% of Revenue)
Slide 16: Cash Flow Summary - Nine Months
($ in millions) 2012 2011 Cash used in operating activities (15) (73) Capital Expenditures (48) (46) Free Cash Flow (63) (119) Change in Debt 41 6 Share Repurchases (44) (43) Dividends paid (34) (33) Acquisitions of Businesses net of cash acquired (46) (32) Effect of Exchange Rate Changes 8 (12) Oth
Slide 17: Balance Sheet Highlights
Balance Sheet Highlights Total Debt ($ in millions) Total Debt to
Slide 18: Credit Facilities
Interest Rate Maturity Date Total Outstanding at 9/30/12 Remaining Available at 9/30/12 Euro Notes: - Euro 200M 4.86% Jun 2013 257 - - Euro 350M 4.505% Jun 2018 450 - Revolving Credit Agreement 1.49% Oct 2016 - 798 Uncommitted lines and Other Various Various 44 337 Total Debt 751 1,135 Credit Facili
Slide 19: Fourth Quarter Outlook
Revenue Total Down 5-7% (Down 3-5% CC) Americas Down 1-3% (Down 1-3% CC) Southern Europe Down 10-12% (Down 6-8% CC) Northern Europe Down 5-7% (Down 4-6% CC) APME Up 0-2% (Up 0-2% CC) Right Management Up 6-8% (Up 6-8% CC) Gross Profit Margin 16.7 - 16.9% Operating Profit Margin 2.2 - 2.4% Tax Rate 43
Slide 20: Driving Results Through Our Organization & People
DIFFERENTIATION Articulating the unique value we bring to our clients, building our brand and capabilities to do more while improving gross margins Driving Results Through Our Organization & People
Slide 21: Questions
Questions