Slide 1: 2010 3rd Quarter Manpower Inc.
2010 3 rd Quarter Manpower Inc. 2010 October 20
Slide 2: Forward-Looking Statement
Manpower Inc. 2010 3 rd Quarter Results October 2010 2 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 informa
Slide 3: Q3 Consolidated Financial Highlights
Manpower Inc. 2010 3 rd Quarter Results October 2010 3 N/A N/A N/A N/A 24% CC 270 bps Operating Profit $109M OP Margin 2.2% Revenue $5.0B Gross Margin 16.9% EPS $.62 10 bps Q3 Highlights Throughout this presentation, the difference between reported variances and Constant Currency (CC) variances repr
Slide 4: Consolidated Gross Margin Change
Manpower Inc. 2010 3 rd Quarter Results October 2010 4 Consolidated Gross Margin Change
Slide 5: Americas Segment Q3 Financial Highlights
Manpower Inc. 2010 3 rd Quarter Results October 2010 5 62% CC Americas Segment (22% of Revenue) Q3 Financial Highlights OUP Margin 3.3% 220 bps $1.1B OUP $36M Operating Unit Profit (OUP) is the measure that we use to evaluate segment performance. OUP is equal to segment revenues less direct costs an
Slide 6: Americas - Q3 Revenue Growth YoY
Manpower Inc. 2010 3 rd Quarter Results October 2010 6 Americas - Q3 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment (1) On an organic basis, US revenue was $552M (+35%). (1)
Slide 7: France Segment Q3 Financial Highlights
Manpower Inc. 2010 3 rd Quarter Results October 2010 7 France Segment (28% of Revenue) Q3 Financial Highlights OUP Margin 1.8% $1.4B OUP $25M 19% CC 100 bps 161% CC
Slide 8: EMEA Segment Q3 Financial Highlights
Manpower Inc. 2010 3 rd Quarter Results October 2010 8 EMEA Segment (36% of Revenue) Q3 Financial Highlights OUP Margin 3.0% $1.8B OUP $54M 20% CC 150 bps 139% CC
Slide 9: EMEA - Q3 Revenue Growth YoY
Manpower Inc. 2010 3 rd Quarter Results October 2010 9 EMEA - Q3 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment
Slide 10: Asia Pacific Segment Q3 Financial Highlights
Manpower Inc. 2010 3 rd Quarter Results October 2010 10 Asia Pacific Segment (11% of Revenue) Q3 Financial Highlights OUP Margin 2.4% $556M OUP $13M 21% CC 150 bps 211% CC
Slide 11: Asia Pacific - Q3 Revenue Growth YoY
Manpower Inc. 2010 3 rd Quarter Results October 2010 11 Asia Pacific - Q3 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment
Slide 12: Right Management Segment Q3 Financial Highlights
Manpower Inc. 2010 3 rd Quarter Results October 2010 12 102% CC Right Management Segment (2% of Revenue) Q3 Financial Highlights OUP Margin 0.0% $86M OUP $0M 36% CC 1570 bps
Slide 13: Jefferson Wells Segment Q3 Financial Highlights
Manpower Inc. 2010 3 rd Quarter Results October 2010 13 Jefferson Wells Segment (1% of Revenue) Q3 Financial Highlights OUP Margin - 3.5% $45M OUP $(2M) 230 bps N/A
Slide 14: Cash Flow Summary - Nine Months
Manpower Inc. 2010 3 rd Quarter Results October 2010 14 Cash Flow Summary - Nine Months 2010 2009 Cash from Operations (56) Capital Expenditures (42) (27) Free Cash Flow (98) ($ in millions) Other (11) Change in Cash (416) (2) Change in Debt (261) (89) Effect of Exchange Rate Changes Acquisitions of
Slide 15: Balance Sheet Highlights
Manpower Inc. 2010 3 rd Quarter Results October 2010 15 Balance Sheet Highlights Total Debt ($ in millions) Total Debt to Total Capitalization Total Debt Net Debt 2010 2010
Slide 16: Credit Facilities as of September 30, 2010
Manpower Inc. 2010 3 rd Quarter Results October 2010 16 (b) (b) Credit Facilities as of September 30, 2010 ($ in millions) (a) (a) This $400M agreement requires, as of September 30, that we comply with a Debt-to-EBITDA ratio of less than 5.75 to 1 and a fixed charge coverage ratio of greater than 1.
Slide 17: Fourth Quarter Outlook
Manpower Inc. 2010 3 rd Quarter Results October 2010 17 Fourth Quarter Outlook Americas Up 48-50% France Up 8-10% (Up 15-17% CC) Up 19-21% Asia Pacific (Up 14-16% CC) Jefferson Wells Right Management Down 33-35% (Down 31-33% CC) Up 16-18% (Up 19-21% CC) Total Gross Profit Margin 17.0-17.2% Operating
Slide 18: Questions?
Manpower Inc. 2010 3 rd Quarter Results October 2010 18 Questions? Answers