Manpowergroup · NYSE:MAN

Manpowergroup — Q1 2015 Earnings Presentation

22 slides from Manpowergroup's earnings presentation, Apr 21, 2015

1. Slide 1: ManpowerGroup First Quarter Results April 21, 2015

   ManpowerGroup First Quarter Results April 21, 2015

2. Slide 2: Forward-Looking Statement

   FORWARD-LOOKING STATEMENT This presentation includes forward-looking statements which are subject to known and unknown risks and uncertainties. Actual results might differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause ac

3. Slide 3: Q1 Financial Highlights: Consolidated

   * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Q1 Financial Highlights 7% Revenue $4.5B 7% CC Revenue $4.5B 10 bps Gross Margin 16.8% 3% Operating Profit $123M 17% CC Operating Profit $123M 10 bps OP Margin 2.7% 3% EPS $0.83 16% CC EPS $0.83 Throughout this presentation, the d

4. Slide 4: Regional Average Daily Revenue Trends

   * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Regional Average Daily Revenue Trends Year-on-year percent change in constant currency

5. Slide 5: EPS Bridge – Q1 vs. Guidance Midpoint

   * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results EPS Bridge – Q1 vs. Guidance Midpoint

6. Slide 6: Consolidated Gross Margin Change

   * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Consolidated Gross Margin Change

7. Slide 7: Growth in CC % Business Line Gross Profit – Q1 2015

   * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Growth in CC % Business Line Gross Profit – Q1 2015 █ Manpower █ Experis █ ManpowerGroup - Total █ ManpowerGroup Solutions █ Right Management

8. Slide 8: SG&A Expense Bridge – Q1 YoY

   * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results SG&A Expense Bridge – Q1 YoY (in millions of USD) 14.1% % of Revenue 14.1% % of Revenue

9. Slide 9: Americas Segment Q1 Financial Highlights

   * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Operating Unit Profit (OUP) is the measure that we use to evaluate segment performance. OUP is equal to segment revenues less direct costs and branch and national headquarters operating costs. Q1 Financial Highlights 1% Revenue $1

10. Slide 10: Americas – Q1 Revenue Growth YoY

    * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Americas – Q1 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment Revenue

11. Slide 11: Southern Europe Segment Q1 Financial Highlights

    * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Q1 Financial Highlights 11% Revenue $1.5B 8% CC Revenue $1.5B 1% OUP $69M 24% CC OUP $69M 50 bps OUP Margin 4.5% Southern Europe Segment (34% of Revenue)

12. Slide 12: Southern Europe – Q1 Revenue Growth YoY

    * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Southern Europe – Q1 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment Revenue

13. Slide 13: Northern Europe Segment Q1 Financial Highlights

    * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Q1 Financial Highlights 10% Revenue $1.3B 8% CC Revenue $1.3B 13% OUP $33M 2% CC OUP $33M 10 bps OUP Margin 2.5% Northern Europe Segment (29% of Revenue)

14. Slide 14: Northern Europe – Q1 Revenue Growth YoY

    * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Northern Europe – Q1 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment Revenue

15. Slide 15: APME Segment Q1 Financial Highlights

    * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Q1 Financial Highlights 7% Revenue $533M 2% CC Revenue $533M 7% OUP $19M 2% CC OUP $19M 0 bps OUP Margin 3.5% APME Segment (12% of Revenue)

16. Slide 16: APME – Q1 Revenue Growth YoY

    * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results APME – Q1 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment Revenue

17. Slide 17: Right Management Segment Q1 Financial Highlights

    * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Right Management Segment (1% of Revenue) Q1 Financial Highlights 12% Revenue $64M 5% CC Revenue $64M 32% OUP $6M 27% CC OUP $6M 250 bps OUP Margin 8.8%

18. Slide 18: Cash Flow Summary – Q1

    * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Cash Flow Summary – Q1

19. Slide 19: Balance Sheet Highlights

    * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Balance Sheet Highlights Total Debt (in millions of USD) Total Debt to Total Capitalization Total Debt Net Debt (Cash)

20. Slide 20: Credit Facilities – March 31, 2015

    * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Interest Rate Maturity Date Total Outstanding Remaining Available Euro Notes - €350M 4.505% Jun 2018 376 - Revolving Credit Agreement 1.25% Oct 2018 - 599 Uncommitted lines and Other Various Various 46 266 Total Debt 422 865 Credi

21. Slide 21: Second Quarter Outlook

    * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Second Quarter Outlook

22. Slide 22: Key Take-Aways

    * ManpowerGroup | April 2015 ManpowerGroup 2015 First Quarter Results Key Take-Aways Strong financial and operational performance with disciplined execution and focus on our strategic initiatives. Currency headwind will impact reported earnings but not our underlying financial performance. First qua

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