PageGroup PLC · LSE:PAGE
PageGroup — Michael Page International — Q4 2011 Earnings Presentation
20 slides from PageGroup's earnings presentation, Jan 11, 2012
Slide 1: Fourth Quarter and Full Year Trading Update
Fourth Quarter and Full Year Trading Update 11th January 2012
Slide 2: Growth rate slowing due to increasing economic uncertainty
Michael Page International Fourth Quarter and Full Year Trading Update | 2 Asia Group Pacific “Growth rate slowing due to increasing economic uncertainty” Growth Rates Group gross profit £m £m Reported Constant Q4 2011 vs Q4 2010 135.9 119.9 +13.4% +13.3% FY 2011 vs FY 2010 553.7 442.2 +25.2% +23.1%
Slide 3: Year-on-year growth in both perm and temp markets
Michael Page International Fourth Quarter and Full Year Trading Update | 3 Asia Group Pacific “Year-on-year growth in both perm and temp markets” Q4 2011 Q4 2010 Growth Rates Perm/temp gross profit £m £m Reported Constant Permanent 106.4 93.1 +14.3% +14.4% Temporary 29.5 26.8 +10.0% +9.2% Ratio (Per
Slide 4: Headcount reacts to gross profit trend
Michael Page International Fourth Quarter and Full Year Trading Update | 4 Group “Headcount reacts to gross profit trend” Group quarterly Headcount and gross profit 200 6000 4500 Gross Profit (£m) as reported 150 152.4 147.8 142.7 141.3 140.3 135.9 128.1 127.3 123.4 Headcount 119.9 121.0 118.7 112.8
Slide 5: Benefiting from diversification
Michael Page International Fourth Quarter and Full Year Trading Update | 5 Asia Group Pacific “Benefiting from diversification” Q4 Q4 Q4 2011 2011 2010 Growth Rates GROUP gross profit Proportion £m £m Reported Constant Finance & Accounting 44% 60.1 55.7 +8.0% +7.9% Legal, Technology, HR, Secretarial
Slide 6: Good year-on-year growth across disciplines
Michael Page International Fourth Quarter and Full Year Trading Update | 6 Asia Group Pacific “Good year-on-year growth across disciplines” FY FY FY 2011 2011 2010 Growth Rates GROUP gross profit Proportion £m £m Reported Constant Finance & Accounting 45% 248.9 209.2 +19.0% +16.9% Legal, Technology,
Slide 7: Slowing growth rates in Q4
Michael Page International Fourth Quarter and Full Year Trading Update | 7 Asia Group Pacific “Slowing growth rates in Q4” Q4 Q4 Q4 2011 2011 2010 Growth Rates GROUP gross profit Proportion £m £m Reported Constant EMEA 45% 60.9 52.8 +15.3% +15.1% UK 23% 30.9 30.7 +0.6% +0.6% Asia Pacific 19% 25.6 20
Slide 8: 76% of gross profits from outside UK
Michael Page International Fourth Quarter and Full Year Trading Update | 8 Asia Group Pacific “76% of gross profits from outside UK” FY FY FY 2011 2011 2010 Growth Rates GROUP gross profit Proportion £m £m Reported Constant EMEA 43% 239.5 188.7 +26.9% +24.2% UK 24% 130.0 124.9 +4.1% +4.1% Asia Pacif
Slide 9: EMEA: Slowing growth as uncertainty in Eurozone increases
Michael Page International Fourth Quarter and Full Year Trading Update | 9 EMEA “Slowing growth as uncertainty in Eurozone increases” Growth Rates EMEA gross profit £m £m Reported Constant Q4 2011 vs Q4 2010 60.9 52.8 +15.3% +15.1% Headcount up 20 (+0.9%) at 2,210 (Q3 2011: 2,190) In local currency
Slide 10: EMEA: Headcount reacts quickly to economic backdrop
Michael Page International Fourth Quarter and Full Year Trading Update | 10 EMEA “Headcount reacts quickly to economic backdrop” EMEA QUARTERLY HEADCOUNT AND GROSS PROFIT 80 2400 70.2 1800 65.2 64.1 Gross Profit (£m) as reported 60 63.7 60.9 59.7 58.3 57.5 56.2 52.8 Headcount 48.4 48.5 47.6 46.7 120
Slide 11: United Kingdom: Gross profit flat. Gaining share in challenging market
Michael Page International Fourth Quarter and Full Year Trading Update | 11 United Kingdom “Gross profit flat. Gaining share in challenging market conditions” Growth UK gross profit £m £m Rates Q4 2011 vs Q4 2010 30.9 30.7 +0.6% Headcount down 122 (-8.6%) to 1,292 (Q3 2011: 1,414) • 2% growth in the
Slide 12: United Kingdom: Headcount reacts in a difficult economy
Michael Page International Fourth Quarter and Full Year Trading Update | 12 United Kingdom “Headcount reacts in a difficult economy” UK QUARTERLY HEADCOUNT AND GROSS PROFIT 60 2000 49.0 48.5 Gross Profit (£m) as reported 45 1500 47.9 47.1 45.0 45.0 44.1 Headcount 36.1 34.3 33.1 33.0 30 1000 32.3 31.
Slide 13: Asia Pacific: Continue to achieve strong growth
Michael Page International Fourth Quarter and Full Year Trading Update | 13 Asia Pacific “Continue to achieve strong growth” Growth Rates ASIA PACIFIC gross profit £m £m Reported Constant Q4 2011 vs Q4 2010 25.6 20.8 +23.3% +19.4% Headcount up 15 (+1.6%) to 971 (Q3 2011: 956) In local currency • Asi
Slide 14: Asia Pacific: Record year for Asia Pacific
Michael Page International Fourth Quarter and Full Year Trading Update | 14 Asia Pacific “Record year for Asia Pacific” ASIA PACIFIC QUARTERLY HEADCOUNT AND GROSS PROFIT 40 1000 Gross Profit (£m) as reported 30 750 29.2 27.2 25.6 Headcount 20 500 21.4 20.8 20.3 19.6 18.4 18.0 16.4 15.4 14.7 14.8 13.
Slide 15: Americas: +24% gross profit growth
Michael Page International Fourth Quarter and Full Year Trading Update | 15 Americas “+24% gross profit growth” Growth Rates Constant AMERICAS gross profit £m £m Reported exchange Q4 2011 vs Q4 2010 18.5 15.6 +18.6% +23.6% Headcount up 23 (+2.9%) to 813 (Q3 2011: 790) In local currency • Latin Ameri
Slide 16: Americas: Record year for Americas
Michael Page International Fourth Quarter and Full Year Trading Update | 16 Americas “Record year for Americas” AMERICAS QUARTERLY HEADCOUNT AND GROSS PROFIT 28 800 Gross Profit (£m) as reported 21 600 22.3 22.0 18.5 18.0 Headcount 15.6 14 400 14.9 14.7 14.3 14.1 11.6 11.2 10.7 10.6 10.5 9.9 9.6 9.0
Slide 17: Well positioned for growth
Michael Page International Fourth Quarter and Full Year Trading Update | 17 Asia Group Pacific “Well positioned for growth” Reported gross profit growth Q4 2011 FY Fee Earners: 3,797 2011 Rest of EMEA* +32% 10% 11% Asia +54% 47% +41% 1,794 10% Latin America +58% Canada, Germany, +31% 2000 16% Italy,
Slide 18: Strong financial position
Michael Page International Fourth Quarter and Full Year Trading Update | 18 Asia Group Pacific “Strong financial position” Financial position • Net cash at 31 December 2011 in the region of £60m • Interim dividend paid on 7th October of 3.25p, £9.8m • 317m shares and 23m share options outstanding at
Slide 19: rH & SOCIAL CARE Péfsonnel MM THCANE BOP ye] Michael Page| emer Michael Page
rH & SOCIAL CARE Péfsonnel MM THCANE BOP ye] Michael Page| emer Michael Page Person SEGRETAPAL Sone ‘sonnel FREELANCE TECNOLOG{A, INMOBILIARIA & CONSTRUCCION FINANCE ENON Michael Page Michael Page Michael Page ichael Pog Michael Page OFFSHORE CONSULTORIA Y ESTRATEGIA. e P. re SYSTEMES D’/INFORMATION
Slide 20: Cautionary Statement
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 law
Michael Page International — Q4 2011 Earnings Presentation on 6ix