Pagegroup Plc · LSE:PAGE
Pagegroup — Q1 2019 Earnings Presentation
17 slides from Pagegroup's earnings presentation, Apr 10, 2019
Slide 1: Q1 2019 Trading Update
10 April 2019 Kelvin Stagg Chief Financial Officer Q1 2019 Trading Update “Growth across all of our regions” LSE: PAGE.L Website: https://www.page.com/investors
Slide 2: Headline Numbers
Headline Numbers Kelvin Stagg, Chief Financial Officer
Slide 3: Growth across all of our regions
Headline Numbers Financial Review Regional Review Summary Q1 19 Growth across all of our regions Key financial highlights Gross Profit £208.8m Growth in +11.7% Constant £187.8m Q1 2018 +15.4% Q4 2018 Currency Reported +11.2% Rates +15.8% Q4 2018 Michael Page +9.9% Net Cash c. £76m +14.2% Q4 2018 c.
Slide 4: Financial Review
Financial Review
Slide 5: Strong growth in all brands
Headline Numbers Financial Review Regional Review Summary Q1 19 Strong growth in all brands Perm:Temp ratio remains consistent with prior year 16% 24% 42% 58% 76% 84% Perm Temp Perm Temp Perm Temp • Gross Profit growth in • Gross Profit growth in • Gross Profit growth in permanent +11.8% to £158.5m
Slide 6: Growth across all Disciplines
Headline Numbers Financial Review Regional Review Summary Q1 19 Growth across all Disciplines Professional Services strongest performing 16% Q1 2019 £m 2018 £m Reported % Constant % 34% Finance Accounting and Financial Gross Profit 71.9 64.4 +11.7% +12.5% Services by Discipline Professional Services
Slide 7: Headcount
Headline Numbers Financial Review Regional Review Summary Q1 19 Greater focus on productivity and conversion Ratio of fee earners to support staff maintained at 79:21 Total headcount • Increase in fee earners of 41 (+1%) +1% 8,000 • Fee earner additions were mainly into markets where we saw the stro
Slide 8: Gross Profit (£m) as reported
Gross Profit (£m) as reported 50 0 100 200 250 150 Q1 49.5 Q2 51.4 Q3 47.8 Headline Numbers 2002 Q4 43.9 Q1 42.8 Q2 45.0 Q3 45.0 2003 Q4 45.7 Q1 48.1 Q2 52.3 Q3 53.5 2004 Q4 56.7 Q1 59.9 Q2 68.3 Q3 69.2 2005 Q4 70.2 Q1 79.2 Q2 87.4 Q3 89.1 2006 Q4 93.1 Q1 105.5 Q2 121.0 Q3 123.4 2007 Q4 128.2 Q1 140
Slide 9: Regional Review
Regional Review
Slide 10: Q1 growth rate of 11.7%
Headline Numbers Financial Review Regional Review Summary Q1 19 Q1 growth rate of 11.7% Large, High Potential markets* +19% • Growth in all four regions • 12 countries achieved YoY growth of over 20% • Americas continues to be fastest growing region 15% Q1 2019 £m 2018 £m Reported % Constant % 17% G
Slide 11: EMEA had another record quarter
Headline Numbers Financial Review Regional Review Summary Q1 19 EMEA had another record quarter 19th consecutive quarter of double-digit growth • Michael Page (55% of EMEA) +10%, Page Personnel (45%) +12% • France, representing 16% of the Group, +8% Other 14% • Germany +23%: Michael Page Interim +27
Slide 12: Asia Pacific continued strong growth
Headline Numbers Financial Review Regional Review Summary Q1 19 Asia Pacific continued strong growth Japan and India standout performances • Greater China, 7% of the Group, +9% • Mainland China experienced slowing activity due to uncertainty Japan 15% around trade tariffs • South East Asia +11%; str
Slide 13: UK third consecutive quarter of growth
Headline Numbers Financial Review Regional Review Summary Q1 19 UK third consecutive quarter of growth Strong growth in Page Personnel • Brexit continued to weigh on market sentiment, particularly with senior candidates Midlands 17% • Page Personnel +10% London • Michael Page -1% 36% Gross Profit by
Slide 14: Americas continues to be fastest growing region
Headline Numbers Financial Review Regional Review Summary Q1 19 Americas continues to be fastest growing region Record quarters for the US and Latin America • US +24%, driven by strong performance in regional offices of Boston, Chicago, Houston and Los Angeles Rest of Latam 15% • Latin America +22%:
Slide 15: Summary
Summary
Slide 16: Another strong quarter of growth
Headline Numbers Financial Review Regional Review Summary Q1 19 Another strong quarter of growth Positive performances from all four regions Group Gross Profit growth rate of +11.7% 12 countries delivered YoY growth of over 20% Record fee earner and total headcount Business model enables us to react
Slide 17: Disclaimer
Headline Numbers Financial Review Regional Review Summary Disclaimer Q1 19 This presentation contains certain statements that are neither reported financial results nor other historical information. The information contained in this presentation is not audited, is for personal use and informational