ManpowerGroup · NYSE:MAN
ManpowerGroup — Manpower — Q1 2007 Earnings Presentation
18 slides from ManpowerGroup's earnings presentation, Apr 20, 2007
Slide 1: 2007 1st Quarter Results: New Face, New Place
Manpower Inc. 2007 1 st Quarter Results New Face New Place April 20, 2007 Exhibit 99.2
Slide 2: Forward Looking Statement
2 Manpower Inc. 2007 1 st Quarter Results Forward Looking Statement This presentation includes forward-looking statements which are subject to risks and uncertainties. Actual results might differ materially from those projected in the forward-looking statements. Forward-looking statements can be ide
Slide 3: Consolidated Financial Highlights
3 Manpower Inc. 2007 1 st Quarter Results Consolidated Financial Highlights Operating Profit $103M OP Margin 94% CC $4.5B Gross Margin EPS from Continuing Operations $.69 10% CC 24 bps 70 bps 57% CC Q1 Highlights Throughout this presentation, the difference between reported variances and Constant Cu
Slide 4: Consolidated Gross Profit Margin Change
4 Manpower Inc. 2007 1 st Quarter Results 17.64% 17.88% Q1 2006 Temporary Recruitment Permanent Recruitment Mix - Specialty Q1 2007 - + 0.27% - Consolidated Gross Profit Margin Change
Slide 5: United States Segment
5 Manpower Inc. 2007 1 st Quarter Results United States Segment (11% of Revenue) Q1 Financial Highlights OUP Margin 50 bps $484M OUP $12M 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
Slide 6: France Segment
6 Manpower Inc. 2007 1 st Quarter Results France Segment (33% of Revenue) Q1 Financial Highlights OUP Margin $1.5B OUP $44M 10% CC 40 bps 33% CC
Slide 7: Other EMEA Segment
7 Manpower Inc. 2007 1 st Quarter Results Other EMEA Segment (33% of Revenue) Q1 Financial Highlights OUP Margin $1.5B OUP $37M 17% CC 130 bps 144% CC
Slide 8: Other EMEA Q1 Revenue Growth YoY
8 Manpower Inc. 2007 1 st Quarter Results 33% 20% 44% 17% 18% 22% 22% 8% 32% 5% 29% 27% 33% 17% Other Spain Netherlands Germany Elan UK - Manpower Nordics Other EMEA – Q1 Revenue Growth YoY Growth - CC Revenue Growth % of Segment
Slide 9: Italy Segment
9 Manpower Inc. 2007 1 st Quarter Results Italy Segment (7% of Revenue) Q1 Financial Highlights OUP Margin $305M OUP $16M 15% CC 150 bps 60% CC
Slide 10: Jefferson Wells Segment
10 Manpower Inc. 2007 1 st Quarter Results Jefferson Wells Segment (2% of Revenue) Q1 Financial Highlights OUP Margin $81M OUP $1M 480 bps
Slide 11: Right Management Segment
11 Manpower Inc. 2007 1 st Quarter Results Right Management Segment (2% of Revenue) Q1 Financial Highlights OUP Margin $94M OUP $6M 5% CC 160 bps 29% CC
Slide 12: Other Operations Segment
12 Manpower Inc. 2007 1 st Quarter Results Other Operations Segment (12% of Revenue) Q1 Financial Highlights OUP Margin $603M OUP $13M 11% CC 110 bps 28% CC
Slide 13: Other Operations Q1 Revenue Growth YoY
13 Manpower Inc. 2007 1 st Quarter Results 26% 24% 8% 3% 4% 4% 2% 10% Other Mexico Australia/NZ Japan Other Operations – Q1 Revenue Growth YoY Growth - CC Revenue Growth % of Segment
Slide 14: Financial Highlights
14 Manpower Inc. 2007 1 st Quarter Results Financial Highlights
Slide 15: Balance Sheet Highlights
15 Manpower Inc. 2007 1 st Quarter Results 280 370 416 135 109 837 823 735 902 842 39% 29% 26% 25% 25% 1,000 2003 2004 2005 2006 Q1 2007 2003 2004 2005 2006 Q1 2007 Total Debt Net Debt Balance Sheet Highlights Total Debt ($ in millions) Total Debt to Total Capitalization
Slide 16: Cash Flow Summary – First Quarter
16 Manpower Inc. 2007 1 st Quarter Results * 991,900 shares in 2007 and 612,600 shares in 2006. Proceeds from Sale of Businesses Cash Flow Summary – First Quarter 2007 2006 Cash from Operations Capital Expenditures (17) (15) Free Cash Flow Share Repurchases * (73) (33) Change in Debt Other Change in
Slide 17: Second Quarter Outlook
17 Manpower Inc. 2007 1 st Quarter Results Second Quarter Outlook U.S. Down 3-5% France Up 16-18% (Up 10-12% CC) Up 20-22% Italy (Up 14-16% CC) Jefferson Wells Right Management Up/Down 1% (Down 2-4% CC) Other Up 11-13% (Up 11-13% CC) Total Up 14-16% (Up 9-11% CC) Gross Profit Margin 17.6-17.8% Opera
Slide 18: Questions?
Manpower Inc. 2007 1 st Quarter Results Questions? Answers April 20, 2007