Slide 1: ManpowerGroup 2011 3rd Quarter Results
ManpowerGroup 2011 3 rd Quarter Results October 2011 ManpowerGroup 3 rd Quarter October 21, 2011
Slide 2: Forward-Looking Statement
ManpowerGroup 2011 3 rd Quarter Results October 2011 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 statem
Slide 3: Q3 Consolidated Financial Highlights
ManpowerGroup 2011 3 rd Quarter Results October 2011 Q3 Financial Highlights 16% Revenue $5.8B 9% CC 40 bps Gross Margin 16.5% 45% Operating Profit $158M 34% CC 50 bps OP Margin 2.7% 57% EPS $.97 44% CC Throughout this presentation, the difference between reported variances and Constant Currency (CC
Slide 4: Consolidated Gross Margin Change
ManpowerGroup 2011 3 rd Quarter Results October 2011 Consolidated Gross Margin Change U.S.: 2010 Hire Act credits -0.1% France : lower payroll tax subsidies -0.1%
Slide 5: Americas Segment Q3 Financial Highlights
ManpowerGroup 2011 3 rd Quarter Results October 2011 Q3 Financial Highlights 9% Revenue $1.2B 8% CC 25% OUP $43M 25% CC 40 bps OUP Margin 3.5% Americas Segment (21% of Revenue) (1) Included in these amounts is the US, which had revenue of $829M (+4%) and OUP of $32M (+24%). Operating Unit Profit (OU
Slide 6: Americas - Q3 Revenue Growth YoY
ManpowerGroup 2011 3 rd Quarter Results October 2011 Americas - Q3 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment Revenue 69% 12% 6% 13%
Slide 7: Southern Europe Segment Q3 Financial Highlights
ManpowerGroup 2011 3 rd Quarter Results October 2011 Q3 Financial Highlights 19% Revenue $2.2B 9% CC 27% OUP $50M 17% CC 20 bps OUP Margin 2.3% Southern Europe Segment (38% of Revenue) (1) (1) Included in these amounts is France, which had revenue of $1.7B (+8% CC) and OUP of $28M (+2% CC).
Slide 8: Southern Europe - Q3 Revenue Growth YoY
ManpowerGroup 2011 3 rd Quarter Results October 2011 Southern Europe - Q3 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment Revenue 76% 15% 5% 4%
Slide 9: Northern Europe Segment Q3 Financial Highlights
ManpowerGroup 2011 3 rd Quarter Results October 2011 Q3 Financial Highlights 17% Revenue $1.6B 9% CC 58% OUP $63M 47% CC 100 bps OUP Margin 3.9% Northern Europe Segment (28% of Revenue)
Slide 10: Northern Europe - Q3 Revenue Growth YoY
ManpowerGroup 2011 3 rd Quarter Results October 2011 Northern Europe - Q3 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment Revenue 19% 17% 15% 13% 10% 19% 7%
Slide 11: APME Segment Q3 Financial Highlights
ManpowerGroup 2011 3 rd Quarter Results October 2011 Q3 Financial Highlights 26% Revenue $701M 15% CC 64% OUP $22M 51% CC 70 bps OUP Margin 3.1% APME Segment (12% of Revenue)
Slide 12: APME - Q3 Revenue Growth YoY
ManpowerGroup 2011 3 rd Quarter Results October 2011 APME - Q3 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment Revenue 43% 28% 29% (1) On an organic basis, Other revenue growth was 19% (+13% CC). (1)
Slide 13: Right Management Segment Q3 Financial Highlights
ManpowerGroup 2011 3 rd Quarter Results October 2011 Q3 Financial Highlights 9% Revenue $77M 14% CC N/A OUP $(2)M 240 bps OUP Margin (2.4)% Right Management Segment (1% of Revenue)
Slide 14: Cash Flow Summary - Nine Months
ManpowerGroup 2011 3 rd Quarter Results October 2011 ($ in millions) 2011 2010 Cash from Operations (73) (56) Capital Expenditures (46) (42) Free Cash Flow (119) (98) Change in Debt 6 (19) Share Repurchases (43) (35) Acquisitions of Business net of cash acquired (32) (261) Effect of Exchange Rate Ch
Slide 15: Balance Sheet Highlights
ManpowerGroup 2011 3 rd Quarter Results October 2011 Balance Sheet Highlights Total Debt ($ in millions) Total Debt to Total Capitalization Total Debt Net Debt
Slide 16: Credit Facilities
ManpowerGroup 2011 3 rd Quarter Results October 2011 Interest Rate Maturity Date Total Outstanding at 9/30/11 Remaining Available at 9/30/11 Remaining Available Adjusted for New Agreement Euro Notes: - Euro 200M 4.86% Jun 2013 267 - - - Euro 300M 4.58% Jun 2012 401 - - Revolving Credit Agreement 2.7
Slide 17: Fourth Quarter Outlook
ManpowerGroup 2011 3 rd Quarter Results October 2011 Revenue Total Up 7-9% (Up 5-7% CC) Americas Up 3-5% (Up 4-6% CC) Southern Europe Up 7-9% (Up 5-7% CC) Northern Europe Up 7-9% (Up 5-7% CC) APME Up 16-18% (Up 10-12% CC) Right Management Down 7-9% (Down 8-10% CC) Gross Profit Margin 16.9 - 17.1% Op
Slide 18: Business Line Gross Profit
ManpowerGroup 2011 3 rd Quarter Results October 2011 Business Line Gross Profit $951M Gross Profit Growth in CC % Gross Profit Development - Q3 2011 █ ManpowerGroup Solutions █ Talent & Career Management █ ManpowerGroup - Total
Slide 19: Questions
Questions