PageGroup PLC · LSE:PAGE
PageGroup — Michael Page International — Q4 2009 Earnings Presentation
15 slides from PageGroup's earnings presentation, Jan 8, 2010
Slide 1: Fourth Quarter Trading Update 2009
Fourth Quarter Trading Update 2009 8th January 2010 Specialists in Global Recruitment www.michaelpage.co.uk
Slide 2: Group Gross Profit
MICHAEL PAGE INTERNATIONAL FOURTH QUARTER TRADING UPDATE 2009 | 2 Group Gross Profit Growth Rates Constant £m £m Reported exchange Q4 2009 vs Q4 2008 90.6 118.7 -23.7% -28.4% Q4 2009 vs Q3 2009 90.6 82.3 +10.1% +10.0% Headcount up 5 (+0.1%) at 3,549 (Q3 2009: 3,544) Specialists in Global Recruitment
Slide 3: Group Quarterly Revenue 2001-2009
MICHAEL PAGE INTERNATIONAL FOURTH QUARTER TRADING UPDATE 2009 | 3 Group Quarterly Revenue 2001-2009 200 152.4 141.3 140.3 150 128.2 123.4 121.0 118.7 Gross Profit (£m) 105.5 95.0 93.1 90.6 100 89.1 87.4 83.8 82.3 79.2 70.2 69.2 69.6 68.3 66.9 59.9 58.7 56.7 53.5 52.3 51.4 49.9 49.5 48.1 47.8 45.7 45
Slide 4: Variance in Quarterly Gross Profit and Headcount 2008-2009
MICHAEL PAGE INTERNATIONAL FOURTH QUARTER TRADING UPDATE 2009 | 4 Variance in Quarterly Gross Profit and Headcount 2008 - 2009 15 600 9.5% 8.6% 10 7.4% INCREASE 10.1% 400 £12m £12m 5 374 £8m 200 2.0% HEADCOUNT 111 0.1% 5 £m 0 -86 -£2m 0 -1.8% -158 -1.6% -5 -507 -431 -4.3% -£11m -£11m -200 -10 -809 -
Slide 5: EMEA Gross Profit
MICHAEL PAGE INTERNATIONAL FOURTH QUARTER TRADING UPDATE 2009 | 5 EMEA Gross Profit Growth Rates Constant £m £m Reported exchange Q4 2009 vs Q4 2008 42.2 59.7 -29.3% -34.9% Q4 2009 vs Q3 2009 42.2 35.7 +18.3% +19.7% Headcount down 37 (-2.3%) at 1,572 (Q3 2009: 1,609) In local currency France (19% of
Slide 6: EMEA Quarterly Revenue 2007-2009
MICHAEL PAGE INTERNATIONAL FOURTH QUARTER TRADING UPDATE 2009 | 6 EMEA Quarterly Revenue 2007-2009 80 70.2 65.2 70 63.6 59.7 57.6 60 48.4 48.5 47.7 Gross Profit (£m) 50 42.2 42.0 38.2 35.7 40 30 20 10 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2007 2008 2009 Specialists in Global Recruitment www.michaelp
Slide 7: UK Gross Profit
MICHAEL PAGE INTERNATIONAL FOURTH QUARTER TRADING UPDATE 2009 | 7 UK Gross Profit Growth Rates £m £m Reported Q4 2009 vs Q4 2008 26.5 36.2 -26.7% Q4 2009 vs Q3 2009 26.5 27.3 -2.8% Headcount flat on Q3 2009 at 1,179 Finance and Accounting (16% of the Group) was lower by 23% against Q4 2008 (1% highe
Slide 8: UK Quarterly Revenue 2007-2009
MICHAEL PAGE INTERNATIONAL FOURTH QUARTER TRADING UPDATE 2009 | 8 UK Quarterly Revenue 2007-2009 48.5 49.0 47.9 47.1 50 45.0 45.0 44.1 40 36.2 29.0 Gross Profit (£m) 28.1 27.3 30 26.5 20 10 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2007 2008 2009 Specialists in Global Recruitment www.michaelpage.co.uk
Slide 9: Asia Pacific Gross Profit
MICHAEL PAGE INTERNATIONAL FOURTH QUARTER TRADING UPDATE 2009 | 9 Asia Pacific Gross Profit Growth Rates Constant £m £m Reported exchange Q4 2009 vs Q4 2008 12.2 12.4 -1.0% -12.9% Q4 2009 vs Q3 2009 12.2 10.8 +13.4% +13.5% Headcount up 5 (+1.3%) at 403 (Q3 2009: 398) In local currency Australia and
Slide 10: Asia Pacific Quarterly Revenue 2007-2009
MICHAEL PAGE INTERNATIONAL FOURTH QUARTER TRADING UPDATE 2009 | 10 Asia Pacific Quarterly Revenue 2007-2009 19.6 20 18.4 16.4 15.5 14.8 14.7 15 12.4 12.2 12.2 Gross Profit (£m) 10.8 9.7 9.4 10 5 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2007 2008 2009 Specialists in Global Recruitment www.michaelpage.co
Slide 11: Americas Gross Profit
MICHAEL PAGE INTERNATIONAL FOURTH QUARTER TRADING UPDATE 2009 | 11 Americas Gross Profit Growth Rates Constant £m £m Reported exchange Q4 2009 vs Q4 2008 9.7 10.5 -8.3% -15.3% Q4 2009 vs Q3 2009 9.7 8.6 +13.1% +10.1% Headcount up 37 (+10.3%) at 395 (Q3 2009: 358) In local currency Brazil, Mexico and
Slide 12: Americas Quarterly Revenue 2007-2009
MICHAEL PAGE INTERNATIONAL FOURTH QUARTER TRADING UPDATE 2009 | 12 Americas Quarterly Revenue 2007-2009 14.3 14.1 15 11.6 12 10.7 10.6 10.5 9.9 9.7 9.0 8.6 Gross Profit (£m) 9 7.8 7.2 6 3 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2007 2008 2009 Specialists in Global Recruitment www.michaelpage.co.uk
Slide 13: Perm/Temp Gross Profit
MICHAEL PAGE INTERNATIONAL FOURTH QUARTER TRADING UPDATE 2009 | 13 Perm/Temp Gross Profit Growth Rates Constant Q4 2009 vs Q4 2008 £m £m Reported exchange Permanent 66.7 86.5 -22.9% -27.8% Temporary 23.9 32.2 -25.7% -29.9% Ratio (Perm:Temp) 74:26 77:23 Growth Rates Constant Q4 2009 vs Q3 2009 £m £m
Slide 14: Group Gross Profit – Full Year
MICHAEL PAGE INTERNATIONAL FOURTH QUARTER TRADING UPDATE 2009 | 14 Group Gross Profit – Full Year Growth Rates 2009 2008 Constant £m £m Reported exchange EMEA 163.7 258.8 -36.7% -43.9% UK 110.8 176.7 -37.3% -37.3% Asia Pacific 42.2 66.8 -36.8% -44.3% Americas 35.0 50.4 -30.7% -37.0% Group Total 351.
Slide 15: Questions?
Fourth Quarter Trading Update 2009 Questions? Specialists in Global Recruitment www.michaelpage.co.uk
Michael Page International — Q4 2009 Earnings Presentation on 6ix