Slide 1: Preliminary Results
PRELIMINARY RESULTS For the year ended 30 June 2019
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT 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 and is not intended for distribution to,
Slide 3: Agenda
AGENDA 1 OPERATING REVIEW ALISTAIR COX, CHIEF EXECUTIVE 2 FINANCIAL REVIEW PAUL VENABLES, FINANCE DIRECTOR 3 CURRENT TRADING PAUL VENABLES, FINANCE DIRECTOR 4 STRATEGY UPDATE ALISTAIR COX, CHIEF EXECUTIVE APPENDICES 3
Slide 4: Operating Review
OPERATING REVIEW ALISTAIR COX CHIEF EXECUTIVE 4
Slide 5: Solid operational and financial progress despite weakening macro conditions
NET FEES +6% to £1,129.7m SOLID OPERATIONAL AND FINANCIAL PROGRESS OP PROFIT ‡ +4% to £248.8m DESPITE WEAKENING MACRO CONDITIONS EPS ‡ +4% to 11.92p CORE DIVI +4% to 3.97p Our focus remains on… We have delivered… Maximising Record Group and International net fees, including 19 country records Operat
Slide 6: ANZ: solid performance despite weaker conditions in H2
ANZ net fees (£m) SOLID PERFORMANCE DESPITE WEAKER CONDITIONS FY17 180.7 FY18 199.4 IN H2, PARTICULARLY IN CONSTRUCTION & PROPERTY FY19 198.5 4% net fee growth, operating profit‡ flat Good growth of 7% in Temp (68% of ANZ fees), with a record level of 22,000 Temps. Perm down 4% Australia net fees up
Slide 7: Germany: good performance despite reduction in business confidence
Germany net fees (£m) £133m GOOD PERFORMANCE DESPITE SIGNIFICANT FY17 230.3 £134m FY18 276.0 REDUCTION IN BUSINESS CONFIDENCE FY19 299.8 9% net fee growth, operating profit‡ up 7% Good growth of 8% in Flex (Temp up 19%, Contracting up 3%). Strong Perm growth of 16% Fee growth slowed to 4% in H2 from
Slide 8: UK&I: solid performance, profit up 4%
UK&I net fees (£m) SOLID PERFORMANCE, WITH PROFIT UP 4%, DRIVEN FY17 252.9 FY18 258.2 BY GOOD COST CONTROL, DESPITE UNCERTAINTIES FY19 263.8 2% net fee growth, operating profit‡ up 4% Temp net fees up 4%, Perm flat. Profit growth supported by good cost control Good performance in Public sector, up 1
Slide 9: Rest of World: strong growth in Asia and Americas
RoW net fees (£m) STRONG NET FEE GROWTH IN ASIA & THE AMERICAS, FY17 290.7 PARTIALLY OFFSET BY WEAKER EUROPE MARKETS FY18 339.2 FY19 367.6 EMEA ex-Germany (60% of division net fees) Net fees up 6%. Although growth slowed through the year, 10 of 17 countries delivered record net fee performances Oper
Slide 10: 2022 aspirations range from £300m to £450m
OUR 2022 ASPIRATIONS RANGE FROM £300M TO £450M WITH A MID- POINT CASE OF £375M Australia & NZ (£m) Operating Profit* Germany (£m) Operating Profit* FY17 63 FY17 81 FY18 69 FY18 86 FY19 66 FY19 91 FY22 OBJECTIVE 75 90 105 FY22 OBJECTIVE 135 160 185 LOWER MID UPPER ASSUMED 5 YR NET FEE CAGR +4% to 9%
Slide 11: Financial Review
2. FINANCIAL REVIEW PAUL VENABLES FINANCE DIRECTOR
Slide 12: Solid financial performance despite fee growth slowing
SOLID FINANCIAL PERFORMANCE DESPITE FEE GROWTH SLOWING DURING THE YEAR Net fees Operating Profit Total DPS FY15 £764.2m FY15 £164.1m FY15 2.76p FY16 £810.3m FY16 £181.0m FY16 2.90p FY17 £954.6m FY17 £211.5m FY17 3.22p 4.25p 7.47p FY18 £1,072.8m FY18 £243.4m FY18 3.81p 5.00p 8.81p FY19 £1,129.7m FY19
Slide 13: Income statement
SOLID FINANCIAL PERFORMANCE DESPITE SLOWDOWN IN FEE GROWTH DURING THE YEAR Income Statement Year ended 30 June 2019 2018 Actual LFL* £m £m growth growth Turnover 6,070.5 5,753.3 6% 7% Net Fees 1,129.7 1,072.8 5% 6% Operating Profit‡ 248.8 243.4 2% 4% Net finance cost (2.5) (4.9) Profit before tax‡ 2
Slide 14: Working-day-adjusted fee growth slowed through the year
WORKING-DAY-ADJUSTED FEE GROWTH SLOWED THROUGH THE YEAR AS MARKET CONDITIONS WEAKENED IN MANY MARKETS Macroeconomic conditions softened through the year, particularly in Group net fee growth* Europe, driving sequentially weaker growth in many markets 13% 11% 14% 10% 9% Clear signs of reduced busines
Slide 15: Growth in international net fees slowed; solid UK
GROWTH IN INTERNATIONAL NET FEES SLOWED THROUGH THE YEAR; SOLID PERFORMANCE IN THE UK Australia & NZ (18% of net fees) Germany (27% of net fees) Net Fees £198.5m +4% Net Fees £299.8m +9% Op Profit‡ £66.4m +0% Op Profit‡ £91.3m +7% Australia net fees up 5%, with growth across Good growth in net fees
Slide 16: Perm growth slightly outperformed temp
Split of net fees PERM GROWTH SLIGHTLY OUTPERFORMED TEMP FY17 59% Temp FY18 58% Temp FY19 57% Temp Review of Group Permanent and Temporary Businesses* Permanent placement business Temporary placement business 7% net fee growth 6% net fee growth 4% volume increase 6% volume increase 3% average Perm f
Slide 17: AUD and Euro FX translation sensitivities
THE AUSTRALIAN DOLLAR AND EURO REMAIN SIGNIFICANT FX TRANSLATION SENSITIVITIES FOR THE GROUP Key FX rates and sensitivities Year ended 30 June 2019 Average Closing Australian $ 1.8105 1.8087 Euro € 1.1351 1.1169 Impact of a one cent change per annum Net fees Op profit Australian $ +/- £1.1m +/- £0.4
Slide 18: Conversion rate impacted by slower growth in second half
CONVERSION RATE* IMPACTED BY SLOWER GROWTH IN SECOND HALF Conversion Rate* 2019 2018 Overall Group conversion rate decreased 70bps to 22.0% Australia & New Zealand 33.5% 34.7% Reduction in ANZ due to tough New Zealand trading and slowdown in C&P in Australia Germany 30.5% 31.2% Decrease in Germany a
Slide 19: Decrease in ETR to 29.5% driven by mix of profits
DECREASE IN ‘ETR’ TO 29.5%‡ DRIVEN BY MIX OF PROFITS Finance charge and taxation Year ended 30 June 2019 2018 £m £m Finance charge Net interest charge on debt (1.7) (1.6) Interest unwind of discount on Acquisition Liability - (0.6) IAS 19 pension charge (non-cash) (0.5) (2.1) PPF levy (0.2) (0.3) Ot
Slide 20: 4% increase in earnings per share
Basic EPS (p) 4% INCREASE IN EARNINGS PER SHARE‡ FY17 9.66 FY18 11.44 FY19 11.92 Basic earnings per share (EPS) Year ended 30 June 2019 2018 Change Basic earnings‡ £173.6m £165.8m 5% Weighted average number of shares* 1,456.2m 1,448.6m Basic earnings per share‡ 11.92p 11.44p 4% Shares in issue** at
Slide 21: Exceptional cost of £15.1 million incurred in FY19
EXCEPTIONAL COST OF £15.1 MILLION INCURRED IN FY19 Year ended 30 June 2019 Net fees Operating profit (£m) FY19 Pre-exceptional 1,129.7 248.8 GMP equalisation - (8.3) Restructuring costs - (6.8) FY19 Post-exceptional 1,129.7 233.7 During the year, the Group incurred an exceptional charge of £15.1 mil
Slide 22: FY20 P&L guidance, including IFRS 16 impact
FY20 P&L GUIDANCE, INCLUDING IFRS 16 IMPACT FY20 guidance Additional Cost-savings FY20 impact Property depreciation on IAS 19 interest related to FY19 FY20 Total £m of IFRS 16* expansions fixed assets* on pension* restructuring Impact Net fees - - - - - - Other operating costs 45.0 - - - 3.0 48.0 De
Slide 23: Strong underlying cash performance
Cash from operations £m STRONG UNDERLYING CASH PERFORMANCE FY17 217.0 FY18 243.5 ‡ FY19 263.0 Operating profit‡ to free cash flow conversion (£m) Uses of cash flow (£m) Cash from operations ‡ £263.0m (FY18: £243.5m) Cape x £33.0m 27.4 Pensions £15.7m (13.2) (75.5) (2.7) Special Divi £72.9m 248.8 184
Slide 24: Strong year end cash position
Free cash flow £m* STRONG YEAR END CASH POSITION, DESPITE FY17 146.9 PAYING £129 MILLION IN DIVIDENDS FY18 175.7 ‡ FY19 184.8 Closing net cash (£m) 129.7 NET CASH POSITION 122.9 FY19 ended with net cash of £129.7 million, 111.6 after paying £129.1 million cash dividends £210 MILLION BANK FACILITY EX
Slide 25: A strong balance sheet
A STRONG BALANCE SHEET Balance sheet analysis 30 Jun 30 Jun £m 2019 2018 RETIREMENT BENEFITS Reduction in surplus is primarily due to changes in financial Goodwill & intangibles 265.6 247.0 assumptions, partially offset by an increase in asset values Property, plant & equipment 33.0 29.3 and company
Slide 26: Total FY19 dividend payout of £137.9 million
TOTAL FY19 DIVIDEND PAYOUT OF £137.9 MILLION (FY18: £128.3 MILLION), INCLUDING PROPOSED SPECIAL DIVIDEND OF £79.7 MILLION FREE CASH Fund Group investments and development FLOW Maintain a strong balance sheet PRIORITIES Deliver a core dividend which is sustainable, progressive and appropriate CORE Ta
Slide 27: Financial summary
FINANCIAL SUMMARY GOOD NET FEE GROWTH OF 6%, WITH INTERNATIONAL FEES UP 7% Good growth in Germany and RoW, although growth slowed through the year ANZ and UK delivered solid growth, despite economic uncertainties OPERATING PROFIT‡ UP 4% TO £248.8M, RECORD INTERNATIONAL PROFITS ANZ profits flat y-o-y
Slide 28: Current Trading
TITLE 3. CURRENT TRADING SUB-TITLE PAUL VENABLES FINANCE DIRECTOR
Slide 29: Current trading conditions by region
GOOD CONDITIONS IN ASIA; AUSTRALIA STABLE; GERMANY AND THE UK TOUGHER, WITH INCREASING SIGNS OF REDUCED BUSINESS CONFIDENCE Current trading conditions by region Market activity in Australia continues to be broadly stable sequentially, at high overall ANZ levels, albeit slightly below FY19. IT market
Slide 30: Strategy
4. STRATEGY ALISTAIR COX CHIEF EXECUTIVE
Slide 31: Good progress against key priorities
GOOD PROGRESS DELIVERED AGAINST KEY PRIORITIES, AND WELL- POSITIONED FOR LONG-TERM GROWTH AND DEVELOPMENT ASPIRATION TO GENERATE, INVEST IN PEOPLE BUILD CRITICAL MATERIALLY REINVEST & & TECHNOLOGY, MASS AND SCALE INCREASE AND DISTRIBUTE RESPOND TO ACROSS OUR DIVERSIFY GROUP MEANINGFUL CASH CHANGE &
Slide 32: Third phase of our technology journey
THERE ARE NO SHORTCUTS. OVER A DECADE OF INVESTMENT AND I.P. HAS BROUGHT US INTO THE THIRD PHASE OF OUR TECHNOLOGY JOURNEY Phase 1: 2008-12 Phase 2: 2012-17 Phase 3: 2017+ Hays Foundations Hays Connections Hays Deep Insights • Global processes • Channel exploitation • Data science underpins • Global
Slide 33: The data dilemma
THE DATA DILEMMA: DRIVING MORE VALUE FROM DATA THAN HR TEAMS AND COMPETITORS Access to more and better data Convert data effectively into insights Drive real actions from insight CLICK LIKE TWEET REVIEW DOWNLOAD VIEW MILLIONS DATA SHARE OF NEW QUALITY & DATA POINTS INSIGHTS COMMENT COMPLIANCE EACH D
Slide 34: A prioritised pipeline of opportunities to build scale
A PRIORITISED PIPELINE OF OPPORTUNITIES TO BUILD SCALE FUTURE MATERIAL MEANINGFUL CORE PROFIT DRIVERS CONTRIBUTORS NETWORK PROFIT £20m+ £10m+ £5m+ CRITICAL DRIVERS TARGET TARGET TARGET CHINA AUSTRIA BELGIUM 16 POLAND GERMANY SWITZERLAND OTHER NEW ZEALAND HAYS AUSTRALIA FRANCE SPAIN MALAYSIA COUNTRIE
Slide 35: China performance since 2010
CHINA PERFORMANCE SINCE 2010: 23% NET FEE CAGR; NOW OUR 5th MOST PROFITABLE MARKET 45 18 17 40 16 15 34.0 £5m of net fees FY10 35 14 13 70 consultants based in 3 offices 30 27.6 12 Modest conversion rate of 5.9% 11 25 10 20.4 9 20 8 Record net fees of £34m, up 22% YoY FY19 15.7 7 Record operating pr
Slide 36: Concluding remarks
CONCLUDING REMARKS Headlines We have delivered a solid performance despite weakening macroeconomic conditions The Group is more diversified and technologically-enabled than ever before Strongest management team throughout the business that we have ever had Business model remains highly cash-generati
Slide 37: Appendix 1: FY19 results supporting materials
APPENDIX 1 FY19 Results supporting materials
Slide 38: Potential returns to shareholders from 5-year aspirations
POTENTIAL FOR MATERIAL RETURNS TO SHAREHOLDERS BASED ON ACHIEVING OUR 5-YEAR ASPIRATIONS TO JUNE 2022* £’m KEY ASSUMPTIONS: FY22 OPERATING PROFIT 300 375 450 1. Average working capital outflow of FREE CASH FLOW 861 944 1042 £50m per annum in mid-point case USES OF FREE CASH FLOW 2. No M&A spend buil
Slide 39: Like-for-like summary
LIKE-FOR-LIKE SUMMARY Year ended 30 June 2018 FX impact Organic 2019 LFL* £m £m £m £m growth Net fees Australia & New Zealand 199.4 (7.7) 6.8 198.5 4% Germany 276.0 (1.5) 25.3 299.8 9% United Kingdom & Ireland 258.2 (0.1) 5.7 263.8 2% Rest of World 339.2 0.5 27.9 367.6 8% Group 1,072.8 (8.8) 65.7 1,
Slide 40: H2 FY19 vs H1 FY19: analysis by division
H2 FY19 vs H1 FY19: ANALYSIS BY DIVISION Net fee growth (LFL*) Q1 19 Q2 19 H1 19 Q3 19 Q4 19 H2 19 versus same period last year Australia & New Zealand 7% 8% 7% 3% (3%) 0% Germany 13% 15% 14% 6% 2% 4% United Kingdom & Ireland 3% 3% 3% 3% (2%) 1% Rest of World 14% 10% 11% 9% 2% 5% Operating profit gr
Slide 41: Rest of World performance by country
REST OF WORLD PERFORMANCE BY COUNTRY / MARKET Country/Region FY19 Net Net fee # of # of Rest of World net fees (ranked by net fees) fees growth offices consultants £m (LFL*) France 67.6 4% 20 403 USA 43.1 7% 12 260 Other** Benelux 39.4 (3)% 12 249 France China 34.1 22% 6 243 Canada 23.0 18% 8 156 Sw
Slide 42: Technical specialisms add balance and resilience
TECHNICAL SPECIALISMS ADD TO OUR BALANCE AND RELATIVE RESILIENCE Attributes of Technical* vs Technical specialisms now represent >60% Group net fees Professional** net fees (CAGR FY11-19: c.9% vs c.5% Professional) Investment-led hires 100% 1. rather than purely 90% candidate-driven 80% 49% 52% 54%
Slide 43: Continued investment in scale and diversity across global platform
CONTINUED INVESTMENT IN BUILDING FURTHER SCALE AND DIVERSITY ACROSS OUR GLOBAL PLATFORM Temp & Contracting Temp/Contractor business as % of net fees CLEAR STRUCTURAL CANADA NETHERLANDS POLAND 1. GROWTH 34% OPPORTUNITIES 65% 19% SWITZERLAND RELATIVE RESILIENCE 2. TO THE CYCLE 75% 66 FRANCE % BELGIUM
Slide 44: Consultant headcount
CONSULTANT HEADCOUNT Change in headcount As at As at Change As at Change Jun Dec since Dec Jun since Jun 2019 2018 2018 2018 2018 Australia & New Zealand 1,008 1,069 (6%) 1,000 1% Germany 1,801 1,824 (1%) 1,700 6% United Kingdom & Ireland 1,960 1,967 0% 1,917 2% Rest of World 3,013 3,110 (3%) 2,847
Slide 45: Office network
OFFICE NETWORK Number of offices 30 June Opened/ 30 June 2018 (Closed)* 2019 Australia & New Zealand 39 2 41 Germany 22 2 24 United Kingdom & Ireland 97 (1) 96 Rest of World 99 5 104 Total 257 8 265 45 * Offices opened is shown net of closed and merged offices.
Slide 46: Trading days in major markets
TRADING DAYS IN MAJOR MARKETS Australia Germany UK Number of trading days H1 H2 Year H1 H2 Year H1 H2 Year Year ended 30 June 2018 127 124 251 125 123 248 127 125 252 Year ended 30 June 2019 128 123 251 127 122 249 128 124 252 Year ending 30 June 2020 129 124 253 128 122 250 129 125 254 46
Slide 47: Appendix 2: The Hays business model & strategy for growth
APPENDIX 2 The Hays business model & strategy for growth
Slide 48: Clear, well established strategic priorities
WE HAVE CLEAR, WELL ESTABLISHED STRATEGIC PRIORITIES TO DELIVER OUR LONG-TERM AIMS MATERIALLY INCREASE & DIVERSIFY GROUP PROFITS GENERATE, BUILD CRITICAL REINVEST & MASS & DIVERSITY DISTRIBUTE ACROSS OUR MEANINGFUL CASH GLOBAL PLATFORM RETURNS INVEST IN PEOPLE, TECHNOLOGY, COLLABORATIONS & INNOVATIO
Slide 49: Strength of our model drives performance through the cycle
THE STRENGTH OF OUR MODEL IS KEY TO DELIVERING FOR CLIENTS AND DRIVING FINANCIAL PERFORMANCE THROUGH THE CYCLE Unrivalled … the best …delivers … a resilient … and scale, people, the best financial leverages balance and sector solutions for performance the Group to diversity… leading clients & in tou
Slide 50: Hays is a leading global expert in recruitment
HAYS IS A LEADING GLOBAL EXPERT IN QUALIFIED, PROFESSIONAL AND SKILLED RECRUITMENT EXECUTIVE SEARCH (head-hunting) PROFESSIONAL RECRUITMENT (mostly white collar) Contingent fee model Focus on high-skilled roles Clear structural growth markets GENERALISTS (mostly blue collar) 50
Slide 51: A proven track record of organic growth
A PROVEN TRACK RECORD OF ORGANIC GROWTH New country & specialism entries Key: Organic Acquisition 33 COUNTRIES / MARKETS 20 SPECIALISMS Pre 1990 UK Australia Ireland A&F C&P IT Early 1990s Banking Fin Services Office Pros Late 1990s Czech Rep. France New Zealand Contact Ce. Education 2000 Belgium Po
Slide 52: Acting responsibly is embedded in our strategic priorities
ACTING RESPONSIBLY IS EMBEDDED IN OUR STRATEGIC PRIORITIES MATERIALLY GENERATE, INVEST IN BUILD CRITICAL INCREASE AND PEOPLE & MASS & REINVEST AND 2019 DIVERSIFY DISTRIBUTE ACHIEVEMENTS TECHNOLOGY DIVERSITY PROFITS CASH RETURNS STAKEHOLDERS We take huge pride in Hays’ culture, career paths and reput
Slide 53: Worldwide platform and market positioning
OUR WORLDWIDE PLATFORM PROVIDES A PIPELINE OF FUTURE GROWTH OPPORTUNITIES & LEADERSHIP IN ALL CORE MARKETS Hays market positioning* Market Leader Top 3 position Top 5 position Other TOP 3 Australia (#1) Malaysia Belgium New Zealand (#1) Brazil Poland (#1) France Portugal (#1) Germany (#1) Russia Chi
Slide 54: Strategic focus on building scale in key markets
OUR STRATEGIC FOCUS IS ON BUILDING SCALE IN KEY MARKETS HAYS MARKETS HAYS SPECIALISMS 2019 2019 33 20 11 10 2002 2002 Market leaders in eight countries Leading market positions across including: UK, Australia, Germany professional and technical areas Top-3 market position in a further 12 Long-establ
Slide 55: Market-leading breadth and depth of platform
MARKET-LEADING BREADTH AND DEPTH OF PLATFORM 20 SPECIALISMS 33 COUNTRIES New Zealand Luxembourg Netherlands Czech Rep. Switzerland Singapore Colombia Germany Denmark Romania Australia Malaysia Hungary Portugal Belgium Sweden Canada Mexico Austria Poland France Russia Ireland Japan China Spain Brazil
Slide 56: Five pillars of the Hays business model
BALANCE, SCALE AND DIVERSIFICATION ARE WHAT SETS THE HAYS THERE ARE BUSINESS 5 PILLARS MODEL WHICH APART AND UNDERPIN DRIVES THE STRENGTH OF OUTPERFORMANCE OUR BUSINESS MODEL Exposure to structural growth and more mature areas 1. BALANCE Long-established across technical, white-collar specialisms Un
Slide 57: A balanced portfolio
A BALANCED PORTFOLIO Net Fees by type* PublicPublic sector Top Top40 40 Office Support 7% Recruitment Recruitment sector ANZ 18% 15% 15% 15% ~15% Engineering 9% contracts contracts ~25% Rest of World Other** Perm ~25% 31% 32% 42%43% C&P 13% Perm Germany 27% A&F 15% Office Sup. 8% United Kingdom & Ir
Slide 58: Diversified in structural and cyclical markets
BALANCED BUSINESS MODEL: WELL DIVERSIFIED IN STRUCTURAL AND CYCLICAL MARKETS Net fees by market maturity* (percentages in table show % of Group net fees in FY19) ESTABLISHED: DEVELOPING: >70% penetration >30-70% penetration 27% of Group net fees 27% of Group net fees +3% LFL net fee growth UK & Irel
Slide 59: Sector diversity exposes us to growth opportunities
BALANCED BUSINESS MODEL: SECTOR DIVERSITY EXPOSES US TO GROWTH OPPORTUNITIES AND PROTECTS OUR BUSINESS STRONG: GROWTH TOUGH: DECLINE <0%* 12% >10%* Banking Information Technology Retail 33% Legal UK Education Net Fees FY19 Candidate shortages Tough conditions Clients investing £1,129.7m Defend marke
Slide 60: Exposure to temp/contractor markets, perm-geared in high growth areas
BALANCED BUSINESS MODEL: SECTOR-LEADING EXPOSURE TO KEY TEMP/CONTRACTOR MARKETS, PERM-GEARED IN HIGH GROWTH AREAS FY19 Net Fees by geography Temp Perm 16% 32% 43% 70% 84% 68% 57% 30% ANZ - 18% Germany - 27% UK&I - 23% RoW - 32% PROPORTION OF GROUP NET FEES 60
Slide 61: Divisional profiles
APPENDIX TITLE 3 SUB-TITLEprofiles Divisional
Slide 62: ANZ represents 18% of Group net fees
ANZ REPRESENTS 18% OF GROUP NET FEES WITH AUSTRALIA REPRESENTING 95% OF DIVISIONAL NET FEES Year ended 30 June 19 Net fees by specialism Net fees by region Net fees: £198.5m Operating profit‡: £66.4m 11% Conversion rate: 33.5% 24% 23% 5% 30% Countries: 2 8% Consultants: 1,008 4% Offices: 41 4% 13% 9
Slide 63: Historical profile of Hays ANZ
HISTORICAL PROFILE OF HAYS AUSTRALIA & NEW ZEALAND ‡ Excludes exceptional items. 63 Note: Historical net fees and historical operating profit shown on a headline basis. For local currency data, please see slide 70.
Slide 64: Germany represents 27% of Group net fees
GERMANY REPRESENTS 27% OF GROUP NET FEES AND 36% OF GROUP PROFIT Year ended 30 June 19 Net fees by specialism Net fees by contract type 2% 4% Net fees: £299.8m 5% 16% Operating profit‡: £91.3m 5% Conversion rate: 30.5% 41% Consultants: 1,801 15% Offices: 24 56% 28% Private : Public sector 28% 90% 10
Slide 65: Historical profile of Hays Germany
HISTORICAL PROFILE OF HAYS GERMANY ‡ Excludes exceptional items. 65 Note: Historical net fees and historical operating profit shown on a headline basis. For local currency data, please see slide 70.
Slide 66: UK & Ireland represents 23% of Group net fees
UK & IRELAND REPRESENTS 23% OF GROUP NET FEES AND 20% OF GROUP PROFIT Year ended 30 June 19 Net fees by specialism Net fees by region Net fees: £263.8m Operating profit‡: £48.9m 8% Conversion rate: 18.5% 22% 22% 8% Consultants: 1,960 32% Offices: 96 12% 7% Temp : Perm 7% 20% 43% 18% 57% 10% 12% 22%
Slide 67: Historical profile of Hays UK & Ireland
HISTORICAL PROFILE OF HAYS UK & IRELAND ‡ Excludes exceptional items. 67 Note: Historical net fees and historical operating profit shown on a headline basis.
Slide 68: Rest of World represents 32% of Group net fees
REST OF WORLD REPRESENTS 32% OF GROUP NET FEES, WITH FRANCE OUR LARGEST RoW MARKET Net fees by specialism Year ended 30 June 19 Net fees by specialism Divisional Net fees by market Net fees: £367.6m Net fees by country Operating profit‡: £42.2m Conversion rate: 11.5% 22% 21% 18% Countries: 28 29% Co
Slide 69: Historical profile of Rest of World
HISTORICAL PROFILE OF REST OF WORLD ‡ Excludes exceptional items. 69 Note: Historical net fees and historical operating profit shown on a headline basis.
Slide 70: Local currency net fees and operating profit
LOCAL CURRENCY – NET FEES AND OPERATING PROFIT ‡ Excludes exceptional items. 70
Slide 71: Financials' archive: quarterly LFL net fee growth
FINANCIALS’ ARCHIVE – QUARTERLY LFL NET FEE GROWTH % Australia & New Zealand % Germany 23% 23% 19% 15% 14% 14% 16% 16% 16% 12% 13% 12% 14% 15% 11% 13% 12% 15% 7% 8% 5% 6% 7% 10% 3% 3% 6% 0% 7% 5% 2% (3%) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 72: Financials' archive: quarterly LFL net fee and headcount growth
FINANCIALS’ ARCHIVE – QUARTERLY LFL NET FEE & HEADCOUNT GROWTH % Temp % Perm 20% 15% 12% 13% 11% 11% 10% 9% 9% 8% 8% 8% 8% 8% 11% 7% 7% 7% 11% 6% 9% 5% 5% 7% 7% 6% 2% 2% 3% 0% 1% 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY16 FY17 FY18 FY19 FY
Slide 73: Further information
FURTHER INFORMATION DAVID PHILLIPS HEAD OF INVESTOR RELATIONS CHARLES CHALKLY INVESTOR RELATIONS MANAGER IR@hays.com +44 203 978 3173 For more information about the Group: haysplc.com/investors or @haysplcIR