Empresaria Group Plc · LSE:EMR
Empresaria — H1 2009 Earnings Presentation
12 slides from Empresaria's earnings presentation, Sep 10, 2009
Slide 1: Interim Results 2009
Interim Results 2009 10 September 2009 Miles Hunt – Chief Executive Stuart Kilpatrick – Finance Director
Slide 2: Financial Summary
Financial Summary Revenue Revenue of £92.5m (2008: £100.6m) 2007 55.7 Net fees of £18.9m (2008: £25.3m) 2008 100.6 2009 92.5 7 27 47 67 87 107 EBITA (adj) at breakeven (2008: £2.3m) Net Fee Income Overheads £4m lower than H1 2008 2007 15.0 Oversubscribed share placing raised 2008 25.3 £2.7
Slide 3: Income Statement – 6 months ended 30 June 2009
Income Statement – 6 months ended 30 June 2009 £m 2009 2008 Change Revenue 92.5 100.6 (8%) Net fees / gross profit 18.9 25.3 (25%) Overheads (18.9) (23.0) (18%) Adjusted operating profit - 2.3 Exceptional items (1.5) (0.4) Intangible amortisation (0.2) (0.1) Interest (0.5) (0.5) (Loss) / profit befo
Slide 4: Geographical overview
Geographical overview 2009 2008 Net Fee Income Net fee income UK 7.1 10.8 Continental Europe 7.9 10.7 38% 43% ROW 3.9 3.8 Total 18.9 25.3 62% 57% Operating profit * UK 0.5 1.4 2009 2008 Continental Europe (0.4) 0.6 International UK ROW (0.1) 0.3 Total - 2.3 * Before exceptional items and amortisatio
Slide 5: Operational review - UK
Operational review - UK Revenue down 7% Split of Temp and Perm NFI Perm down 53%, temp up 5% (LFL) Net fee income down 34% 2008 2009 Perm fall caused 24%, temp 7%, public sector (discontinued) 3% Temp Perm Temp fall due to mix Growth in lower margin Property Services offset by fall in hi
Slide 6: Operational review – Continental Europe
Operational review – Continental Europe Revenue down 14% Business mix - Headway Net fee income down 26% 2008 30% 19% 51% Overheads reduced by 18% Margins impacted by idle time in Q1 in 2009 52% 19% 29% Germany and EAR Over 40% growth in Headway’s logistics Specialist Skilled Unskilled divi
Slide 7: Operational review – Rest of World
Operational review – Rest of World Revenue up 5% Net Fee Income Net fee income up 2% Indonesia up 36%; Japan down 25% Japanese market tough but stable Chile progressing in line with expectations Portfolio adjustments in Singapore, Japan Indonesia Australia SE Asia Chile Thailand and Aust
Slide 8: Conclusion on First Half of 2009
Conclusion on First Half of 2009 Actions taken to counter challenging environment Breakeven at adjusted operating profit level Cost savings and portfolio adjustments implemented quickly 79% of net fee income from temporary staffing operations More stable temporary business is providing res
Slide 9: Appendices
Empresaria Group plc Appendices
Slide 10: Appendix - What differentiates Empresaria?
Appendix 1 - What differentiates Empresaria? Management equity philosophy Underpins the business model Drives profit growth Entrepreneurial flexibility in a downturn Multi-disciplined Each business branded and sector focused Temporary and contract business 79% of NFI from the more st
Slide 11: Appendix - What differentiates Empresaria?
Appendix 1 - What differentiates Empresaria? Focus on emerging economies and developing staffing markets Establish footprint and invest for growth Market share relatively small & scope to grow Ownership culture creates resilience and flexibility -11-
Slide 12: Appendix – Director biographies
Appendix 2 – Director biographies Tony Martin – Chairman Tony was appointed Chairman of Empresaria in July 2004. Prior to joining Empresaria, Tony served as Chairman and Chief Executive of Select Appointments (Holdings) PLC from 1992 to 1999, which he and his team built into a global recruitment bus