Slide 1: ManpowerGroup Second Quarter Results
ManpowerGroup Second Quarter Results | July 20, 2020 Exhibit 99.2
Slide 2: Forward-Looking Statement
FORWARD-LOOKING STATEMENT This presentation contains statements, including statements regarding the anticipated financial and operational impacts of the COVID-19 pandemic and related economic conditions and the Company’s efforts to respond to such impacts, that are forward-looking in nature and, acc
Slide 3: Consolidated Financial Highlights
Consolidated Financial Highlights ManpowerGroup 2020 Second Quarter Results As Reported As Adjusted(1) Q2 Financial Highlights 30% 30% Revenue $3.7B 28% CC 28% CC 80 bps 80 bps Gross Margin 15.4% N/A 88% Operating Loss -$50M (Operating Profit $23M as adjusted) N/A CC 88% CC 370 bps 310 bps OP Margin
Slide 4: EPS Bridge – Q2 2020 vs. Q2 2019
EPS Bridge – Q2 2020 vs. Q2 2019 ManpowerGroup 2020 Second Quarter Results (1) (3) (2) Represents a favorable impact of $1.32 related to the gain from our acquisition of the remaining interest in our Manpower Switzerland business partially offset by the unfavorable impact of $1.26 related to the goo
Slide 5: Consolidated Gross Margin Change
Consolidated Gross Margin Change ManpowerGroup 2020 Second Quarter Results
Slide 6: Trend Business Line Gross Profit – Q2 2020
Trend Business Line Gross Profit – Q2 2020(1) (1) Business line classifications can vary by entity and are subject to change as service requirements change. ManpowerGroup 2020 Second Quarter Results █ Manpower █ Experis █ Talent Solutions █ ManpowerGroup – Total
Slide 7: SG&A Expense Bridge – Q2 YoY
SG&A Expense Bridge – Q2 YoY (in millions of USD) ManpowerGroup 2020 Second Quarter Results Reported ratio is unfavorably impacted 10 bps due to the effect of currency exchange rates on our business mix. In constant currency, SG&A excluding goodwill and other impairment was 14.7% of revenue, and SG&
Slide 8: Cash Flow Summary – Months YTD
Cash Flow Summary – 6 Months YTD ManpowerGroup 2020 Second Quarter Results
Slide 9: Balance Sheet Highlights
Balance Sheet Highlights Total Debt (in millions of USD) Total Debt to Total Capitalization ManpowerGroup 2020 Second Quarter Results Total Debt Net Debt Net (Cash)
Slide 10: Debt and Credit Facilities – June 30, 2020
Interest Rate Maturity Date Total Outstanding Remaining Available Euro Notes - €500M 1.809% Jun 2026 557 - Euro Notes - €400M 1.913% Sep 2022 448 - Revolving Credit Agreement 1.162% Jun 2023 - 599 Uncommitted lines and Other Various Various 50 277 Total Debt 1,055 876 Debt and Credit Facilities – Ju
Slide 11: Americas Segment
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. Americas Segment (23% of Revenue) ManpowerGroup 2020 Second Quarter Results As Reported As Adjusted(1) Q2 F
Slide 12: Americas – Q2 Revenue Trend
Revenue Trend - CC Revenue Trend % of Segment Revenue Americas – Q2 Revenue Trend YoY Average Daily Revenue Trend - CC ManpowerGroup 2020 Second Quarter Results On an organic basis, revenue and ADR for the US decreased 23%. (1)
Slide 13: Southern Europe Segment
Southern Europe Segment (39% of Revenue) ManpowerGroup 2020 Second Quarter Results As Reported Q2 Financial Highlights 39% Revenue $1.5B 38% CC 90% OUP $12M 90% CC 440 bps OUP Margin 0.8%
Slide 14: Southern Europe – Q2 Revenue Trend
Southern Europe – Q2 Revenue Trend YoY Revenue Trend - CC Revenue Trend % of Segment Revenue Average Daily Revenue Trend - CC ManpowerGroup 2020 Second Quarter Results
Slide 15: Northern Europe Segment
Northern Europe Segment (23% of Revenue) ManpowerGroup 2020 Second Quarter Results As Reported Q2 Financial Highlights 28% Revenue $866M 24% CC N/A OUP 0M 210 bps OUP Margin 0.0%
Slide 16: Northern Europe – Q2 Revenue Trend
Northern Europe – Q2 Revenue Trend YoY Revenue Trend - CC Revenue Trend % of Segment Revenue Average Daily Revenue Trend - CC ManpowerGroup 2020 Second Quarter Results
Slide 17: APME Segment
APME Segment (15% of Revenue) ManpowerGroup 2020 Second Quarter Results As Reported Q2 Financial Highlights 21% Revenue $569M 19% CC 39% OUP $18M 40% CC -100 bps OUP Margin 3.1%
Slide 18: APME – Q2 Revenue Trend
APME – Q2 Revenue Trend YoY Revenue Trend - CC Revenue Trend % of Segment Revenue Average Daily Revenue Trend - CC On an organic basis excluding Greater China, revenue for APME Other decreased 12% or 7% in constant currency. (1) ManpowerGroup 2020 Second Quarter Results
Slide 19: Third Quarter 2020 Outlook
Third Quarter 2020 Outlook ManpowerGroup 2020 Second Quarter Results Revenue Total Down 18-20% (Down 18-20% CC) Americas Down 21-23% (Down 17-19% CC) Southern Europe Down 20-22% (Down 21-23% CC) Northern Europe Down 16-18% (Down 17-19% CC) APME Down 9-11% (Down 8-10% CC) Gross Profit Margin 15.3 – 1
Slide 20: Key Take Aways
Progressive monthly improvement in revenue trends during the second quarter. Strong balance sheet and liquidity as we confidently progress our strategic initiatives in a challenging economic environment. Extensive portfolio of workforce solutions and services across our leading global footprint posi