PageGroup PLC · LSE:PAGE
PageGroup — Q1 2015 Earnings Presentation
16 slides from PageGroup's earnings presentation, Jul 1, 2015
Slide 1: First Quarter 2015 Interim Management Statement
First Quarter 2015 Interim Management Statement
Slide 2: Trading Performance
2 Trading Performance Reported (£m) Constant Year-on-Year Gross Profit Q1 2015 Q1 2014 % % Q1 2015 vs Q1 2014 135.6 126.6 +7.2% +10.9% • Gross Profit +10.9% vs Q1 2014 in constant currency • In reported rates Gross Profit +7.2% • At constant currency, Gross Profit was £140.4m (+£4.8m on reported rat
Slide 3: Permanent vs Temporary
3 Permanent vs Temporary Reported (£m) Constant Year-on-Year Gross Profit Q1 2015 Q1 2014 % % Permanent 105.1 97.7 +7.6% +10.9% Temporary 30.5 28.9 +5.8% +11.0% Ratio (Perm:Temp) 77:23 77:23
Slide 4: Headcount
4 Headcount Q1 2015 Q4 2014 Movement % Headcount 5,680 5,578 +102 +1.8% Fee Earners 4,343 4,278 +65 +1.5% Support Staff 1,337 1,300 +37 +2.8% Ratio 76:24 77:23 • Implementation team for PRS in Europe • Transfer overlap to consolidate support function • Closure of Moscow office and exit from Russia
Slide 5: Headcount and Reported Gross Profit
5 Headcount and Reported Gross Profit • Total headcount increased by 1.8% during Q1 to 5,680 (Q4 2014: 5,578)
Slide 6: Discipline Overview
6 Discipline Overview Reported (£m) Constant % of Year-on-Year Gross Profit Q1 2015 Q1 2014 % % Group Finance & Accounting 40% 54.3 49.3 +10.0% +13.8% Legal, Technology , HR, 20% 27.8 25.7 +8.3% +11.5% Secretarial and Healthcare Engineering, Property & Construction, Procurement 20% 26.5 26.0 +2.2% +
Slide 7: Regional Overview
7 Regional Overview Reported (£m) Constant % of Year-on-Year Gross Profit Q1 2015 Q1 2014 % % Group EMEA 40% 54.0 52.7 +2.6% +12.1% UK 27% 36.5 32.8 +11.3% +11.3% Asia Pacific 19% 25.8 23.0 +12.3% +10.8% Americas 14% 19.3 18.1 +6.7% +7.1% Group Total 100% 135.6 126.6 +7.2% +10.9% • Strongest perform
Slide 8: EMEA (40% of Group)
8 EMEA (40% of Group) Reported (£m) Constant Year-on-Year Gross Profit Q1 2015 Q1 2014 % % Q1 2015 vs Q1 2014 54.0 52.7 +2.6% +12.1% Headcount up 49 (+2.3%) to 2,162 • France (13% of Group) +5% -Page Personnel (Temp/Perm < €40,000) 60% of France: +2% -Michael Page (Perm > €40,000) 40% of France: +10
Slide 9: United Kingdom (27% of Group)
9 United Kingdom (27% of Group) Reported (£m) Year-on-Year Gross Profit Q1 2015 Q1 2014 % Q1 2015 vs Q1 2014 36.5 32.8 +11.3% Headcount up 22 (+1.5%) to 1,463 • Strong performances include Finance & Accounting, Sales, Logistics and Property & Construction • Page Personnel +25% on Q1 2014, 18% of the
Slide 10: Asia Pacific (19% of Group)
10 Asia Pacific (19% of Group) Reported (£m) Constant Year-on-Year Gross Profit Q1 2015 Q1 2014 % % Q1 2015 vs Q1 2014 25.8 23.0 +12.3% +10.8% Headcount up 23 (+2.0%) to 1,164 • Asia (13% of Group and 70% of Asia Pacific) +14% • Strong performance from Greater China +18% and Japan +14% • Malaysia an
Slide 11: Americas (14% of Group)
11 Americas (14% of Group) Reported (£m) Constant Year-on-Year Gross Profit Q1 2015 Q1 2014 % % Q1 2015 vs Q1 2014 19.3 18.1 +6.7% +7.1% Headcount up 8 (+0.9%) to 891 • Latin America (7% of the Group) +4% • Brazil -14% impacted by adverse macroeconomic factors • Latin America, ex-Brazil (50% of Lati
Slide 12: Summary
12 Summary • Q1 Gross Profit: +10.9% in constant currency and +7.2% in reported rates - Large, High Potential Markets: Gross Profit +10% in constant currency, Fee Earner Headcount +1%. • Impact of FX: 3.7% impact on Reported figures Equivalent to: - £4.8m in Gross Profit - £0.6m in Operating Profit
Slide 13: Outlook Summary
13 Outlook • Trends in market conditions expected to prevail across major Summary regions - Brazil expected to remain challenging in the short-term - Page Personnel progressing strongly • Adverse effect of foreign exchange movements • Focus on conversion rates and productivity - Selective investment
Slide 14: Page
Page Michael Page Page Personnel Part of PageGroup
Slide 15: Year-on-Year Gross Profit Growth Rates
15 Year-on-Year Gross Profit Growth Rates 2013 2014 2015 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 EMEA -15.0% -8.2% -7.1% -1.4% +5.7% +5.1% +11.2% +12.5% +12.1% UK -1.2% +0.3% +5.0% +5.1% +8.1% +11.1% +13.7% +11.0% +11.3% Asia Pacific -0.3% -8.0% -4.3% -5.7% +1.3% +14.2% +11.1% +10.8% +10.8% -Asia +13.5% +1.6% +7
Slide 16: Cautionary Statement
16 Cautionary Statement The information contained in this presentation is not audited, is for personal use and informational purposes only and is not intended for distribution to, or use by, any person or entity in any jurisdiction in any country where such distribution or use would be contrary to l