Slide 1: Q4 and FY 2024 Trading Update
Overview Financial Review Regional Review Summary Q4 and FY 2024 Trading Update
Slide 2: Headline Numbers
Overview Financial Review Regional Review Summary Headline Numbers Kelvin Stagg Chief Financial Officer
Slide 3: Key financial highlights
Overview Financial Review Regional Review Summary Key financial highlights Ongoing challenging market conditions, worsening in Europe £196.7m Constant -13.0% Gross Profit Q4 £237.5m Q4 2023 Currency vs Q4 2023 £842.5m Constant Currency vs -12.9% Gross Profit FY £1007.1m FY 2023 FY 2023 +26% Total Fe
Slide 4: Financial Review
Overview Financial Review Regional Review Summary Financial Review
Slide 5: Q4 Perm and Temp Ratio
Overview Financial Review Regional Review Summary Q4 Perm and Temp Ratio Similar declines across temporary and permanent recruitment 22% 30% 45% -13.0% -8.0% 55% -25.1% 70% 78% Perm Temp Perm Temp Perm Temp • Permanent -12.5% to £137.4m • Permanent -9.8% to £115.0m • Permanent -24.6% to £22.4m • Tem
Slide 6: Headcount
Overview Financial Review Regional Review Summary Headcount reduction consistent with Q3 Reductions mainly in Europe and the UK Total headcount -1.1% • Decrease in fee earners of 130 (-2.4%) in the Quarter 8,000 7,000 • Q4 Fee earners: -116 EMEA, -8 Americas, +17 Asia Pacific, -23 UK 6,000 • Non-ope
Slide 7: Productivity down 5% on Q4 2023
Overview Financial Review Regional Review Summary Productivity down 5% on Q4 2023 Continued tough market conditions 60 Fee Earners Gross Profit per fee earner (£k) constant currency • Conversion of interviews to accepted offers 7000 remains most significant challenge 50 6000 • Continued high fee rat
Slide 8: Regional Review
Overview Financial Review Regional Review Summary Regional Review
Slide 9: Q4 Gross Profit -13.0%
Overview Financial Review Regional Review Summary Q4 Gross Profit -13.0% Negative foreign exchange impact of 4.2 ppts • Market conditions remained challenging in Q4 across the Group • Whilst most markets were sequentially stable, we experienced a further worsening in trading in Europe Q4 % of Group
Slide 10: EMEA
Overview Financial Review Regional Review Summary EMEA Worsening in trading conditions, particularly in France and Germany Reported Constant £M Period 2024 £m 2023 £m % % Q4 107.5 132.8 -19.1% -15.9% Gross Profit FY 462.6 549.5 -15.8% -13.4% Other 13% • Michael Page -13%, Page Personnel -21% France
Slide 11: The Americas
Overview Financial Review Regional Review Summary The Americas Mixed performances across the region Reported Constant £M Period 2024 £m 2023 £m % % Q4 35.4 40.8 -13.2% -5.5%* Gross Profit FY 149.0 173.3 -14.0% -9.9%* Rest of • US (10% of the Group) +3% Latam Canada 16% 3% • Latin America (8% of the
Slide 12: Asia Pacific
Overview Financial Review Regional Review Summary Asia Pacific Ongoing challenging market conditions across the region Reported Constant £M Period 2024 £m 2023 £m % % Q4 29.5 35.8 -17.4% -14.6% Gross Profit FY 126.5 159.6 -20.8% -16.9% • Greater China (4% of the Group) -23% SE Asia 25% Japan • Mainl
Slide 13: UK
Overview Financial Review Regional Review Summary UK Ongoing subdued levels of client and candidate confidence Reported £M Period 2024 £m 2023 £m % Q4 24.3 28.1 -13.6% Gross Profit FY 104.4 124.7 -16.3% • Michael Page -9% Temp • Page Personnel -22% 31% Gross Profit Mix Perm 69% No. 2024 Q4 2023 Q4 %
Slide 14: Summary
Overview Financial Review Regional Review Summary Summary
Slide 15: Summary
Overview Financial Review Regional Review Summary Summary Ongoing challenging market conditions, worsening in Europe Ongoing tough conditions in the majority of the Group’s markets Further worsening in trading and activity in Europe Conversion of interviews to accepted offers remains most significan
Slide 16: Appendix
Overview Financial Review Regional Review Summary Appendix
Slide 17: Our business model
Overview Financial Review Regional Review Summary Our business model 17
Slide 18: Significant variations in recruitment mix
Overview Financial Review Regional Review Summary Significant variations in recruitment mix Geography Brands 18% 17% 22% 35% 43% 55% 65% 82% 83% 78% 45% 57% EMEA Americas Asia Pacific UK Michael Page Page Personnel Temp Perm 18
Slide 19: Long term fee earner & international growth
Overview Financial Review Regional Review Summary Long term fee earner & international growth 8,000 ASIA EMEA AMERICAS UK PACIFIC Fee Earner Headcount 7,000 6,000 5,000 4,000 3,000 2,628 2,000 1,108 1,000 958 676 - 1990-1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Slide 20: Quarterly gross profit & fee earners
Overview Financial Review Regional Review Summary Quarterly gross profit & fee earners Quarterly gross profit reduced from Q4 2022 7000 300 6000 250 5000 Gross Profit (£m) as reported 200 4000 Fee Earners 150 3000 100 2000 50 1000 0 0 Q1 Q2 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q2 Q3 Q4 Q2 Q1 Q3 Q4 Q1 Q2 Q3 Q4 Q2
Slide 21: Year-on-Year gross profit growth rates
Overview Financial Review Regional Review Summary Year-on-Year gross profit growth rates 2022 2023 2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 EMEA +41.1% +29.4% +22.1% +11.9% +6.8% +1.4% -1.3% -6.1% -12.7% -10.2% -15.1% -15.9% Asia Pacific +35.8% +11.7% -3.9% -15.8% -17.0% -17.2% -11.0% -10.3% -15.7%
Slide 22: Contacts and Calendar
Overview Financial Review Regional Review Summary Contacts and Calendar Contacts Date Event Matt Clark – Group Financial Controller 6 March 2025 FY 2024 Trading Update Tel: +44 (0) 1932 264 022 Email: investorrelations@michaelpage.com Web: https://www.page.com/investors 22
Slide 23: Disclaimer
Overview Financial Review Regional Review Summary Disclaimer This presentation contains certain statements that are neither reported financial results nor other historical information. The information contained in this presentation is not audited, is for personal use and informational purposes only
Slide 24: Overview Financial Review Regional Review
Overview Financial Review Regional Review Summary 24