Manpowergroup · NYSE:MAN
Manpowergroup — Manpower — Q4 2006 Earnings Presentation
18 slides from Manpowergroup's earnings presentation, Jan 30, 2007
Slide 1: Manpower Inc. 2006 4th Quarter Results
Manpower Inc. 2006 4 Quarter Results Now Next January 30, 2007 Exhibit 99.2 th
Slide 2: Forward Looking Statement
2 Manpower Inc. 2006 4 th 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. 2006 4 th Quarter Results Consolidated Financial Highlights Operating Profit $170M OP Margin 3.6% 9% CC $4.7B Gross Margin 18.4% EPS from Continuing Operations $1.15 9% CC 3 bps 40 bps 22% CC Q4 Highlights Throughout this presentation, the difference between reported variances and Co
Slide 4: Consolidated Gross Profit Margin Change
4 Manpower Inc. 2006 4 th Quarter Results 18.38% 18.35% Consolidated Gross Profit Margin Change Q4 2005 2005 France Payroll Tax Audit Settlement Temporary Recruitment Permanent Recruitment Mix - Specialty Q4 2006 - 0.32% + 0.29% - 0.45% + 0.51%
Slide 5: United States Segment
5 Manpower Inc. 2006 4 th Quarter Results United States Segment Q4 Financial Highlights OUP Margin 5.1% 80 bps $528M OUP $27M 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 headquarter
Slide 6: France Segment
6 Manpower Inc. 2006 4 th Quarter Results France Segment Q4 Financial Highlights OUP Margin 3.9% $1.6B OUP $61M 8% CC 40 bps 18% CC
Slide 7: EMEA Segment
7 Manpower Inc. 2006 4 th Quarter Results EMEA Segment Q4 Financial Highlights OUP Margin 4.5% $1.8B OUP $81M 14% CC 90 bps 44% CC
Slide 8: EMEA – Q4 Revenue Growth YoY
8 Manpower Inc. 2006 4 th Quarter Results 29% 24% 40% 20% 28% 31% 34% 24% 21% 16% 11% 29% 14% 20% EMEA – Q4 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment -1% Other Spain Netherlands Germany Elan UK - Manpower Nordics Italy
Slide 9: Jefferson Wells Segment
9 Manpower Inc. 2006 4 th Quarter Results Jefferson Wells Segment Q4 Financial Highlights OUP Margin 7.4% $85M OUP $6M 280 bps
Slide 10: Right Management Segment
10 Manpower Inc. 2006 4 th Quarter Results Right Management Segment Q4 Financial Highlights OUP Margin 0.5% $99M OUP $0.4M 2% CC 320 bps 74% CC
Slide 11: Other Operations Segment
11 Manpower Inc. 2006 4 th Quarter Results Other Operations Segment Q4 Financial Highlights OUP Margin 3.4% $618M OUP $21M 15% CC 20 bps 10% CC
Slide 12: Other Operations – Q4 Revenue Growth YoY
12 Manpower Inc. 2006 4 th Quarter Results 30% 27% 2% 19% 8% 5% 7% 17% Other Operations – Q4 Revenue Growth YoY Revenue Growth - CC Revenue Growth % of Segment Other Australia/NZ Mexico Japan
Slide 13: Financial Highlights
13 Manpower Inc. 2006 4 th Quarter Results Financial Highlights
Slide 14: Balance Sheet Highlights: Total Debt
14 Manpower Inc. 2006 4 th Quarter Results 416 370 280 135 842 902 735 823 39% 29% 26% 25% Total Debt Net Debt Balance Sheet Highlights 1,000 2003 2004 2005 2006 Total Debt ($ in millions) Total Debt to Total Capitalization 2003 2004 2005 2006
Slide 15: Cash Flow Summary – Full Year
15 Manpower Inc. 2006 4 th Quarter Results * 3,972,600 shares in 2006 and 5,000,000 shares in 2005. Proceeds from Sales of Businesses Cash Flow Summary – Full Year 2006 2005 Cash from Operations Capital Expenditures (80) (78) Free Cash Flow Share Repurchases * (236) (218) Change in Debt Other – Chan
Slide 16: First Quarter Outlook
16 Manpower Inc. 2006 4 th Quarter Results Up 20-22% First Quarter Outlook U.S. Flat/Down 2% France Up 15-17% (Up 7-9% CC) EMEA (Up 13-15% CC) Jefferson Wells Right Management Up 2-4% (Up/Down 1% CC) Other Up 11-13% (Up 11-13% CC) Total Up 13-15% (Up 8-10% CC) Gross Profit Margin 17.8 - 18.0% Operat
Slide 17: 2006 4th Quarter Results
2006 th Quarter Results Now Next January 30, 2007
Slide 18: Questions?
2006 th Quarter Results Questions? Answers January 30, 2007