Steve Ingham Chief Executive Officer · First ever quarter with over £200m Gross Profit 20 A record Gross Profit performance Highest growth rate for 7 years. Appendix. Q2 18 Headline

Steve Ingham

Kelvin Stagg

Chief Executive Officer

Chief Financial Officer

LSE: PAGE.L

Website: http://www.page.com/investors

11 July 2018

Q2 and H1 2018 Trading Update

“First ever quarter with over

£200m Gross Profit”

http://www.page.com/investors

Headline Numbers

Kelvin Stagg, Chief Financial Officer

Q2 18

Headline Numbers Financial Review Regional Review Vision & Digital Summary

3

Key financial highlights

First ever quarter with over £200m Gross Profit

£208.2m£181.8m Q2 2017

£396.0m£352.0m H1 2017

Gross Profit

Q2

Gross Profit

H1

+16.0%+12.3% Q1 2018

+14.5%+10.3% Q1 2018

Growth in

Constant

Currency Q2

Reported

Rates Q2

Michael

Page Q2

Page

Personnel Q2

c. £85mc. £89m Q2 2017

Net Cash

Dividend

Paid in June

+15.8%+10.8% Q1 2018

+16.4%+15.9% Q1 2018

£27.4m

Financial Review

Q2 18


78%

22%

Perm Temp

85%

15%

Perm Temp

60%

40%

Perm Temp

5

• Gross Profit growth in

permanent +17.6% to £161.5m

• Temporary +10.7% to £46.7m

• Perm:Temp ratio 78:22 slightly

up on prior year







Growth across brands in Perm and TempBusiness balance reflects brands and geographic mix

Q2 18


34%

24%

24%

18%

25%25%25%25%

Accounting and Financial Services

Legal, Technology, HR, Secretarial,Healthcare

Engineering, Property & Construction,Procurement & Supply Chain

Marketing, Sales and Retail

Discipline diversification progress

Gross Profit

by Discipline

Q2 2018 £m 2017 £m Reported % Constant %

Finance

Accounting and Financial

Services71.8 66.7 +7.7% +9.1%

Technical

Engineering, Property &

Construction, Procurement &

Supply Chain

50.0 39.9 +25.2% +26.4%

Professional Services

Legal, Technology, HR,

Secretarial, Healthcare49.8 41.4 +20.1% +21.7%

Marketing, Sales and Retail 36.6 33.8 +8.4% +10.1%

Group Total 208.2 181.8 +14.5% +16.0%

Specialist disciplines continue to deliver record growth

6

Q2 18


1,631 1,641

5,680 5,816

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Q1 2018 Q2 2018

He

ad

co

un

t

Support Staff Fee Earners

• Increase in fee earners of 136 (+2.4%)

• Fee earner headcount added in our Large, High

Potential markets, as well as where we saw

strongest growth

• Fee earner headcount additions spread throughout

the Group except UK -16 (-1.6%)

• Marginal increase in support staff of 10 (+0.6%)

• Joiners ratio of fee earner to operational support

staff was 93:7

7

+2.0%

A new record headcountRatio of fee earners to support staff maintained at a record 78:22

Q2 18


8

49

.5

51

.4

47

.8

43

.9

42

.8

45

.0

45

.0

45

.7

48

.1

52

.3

53

.5

56

.7

59

.9 68

.3

69

.2

70

.2 79

.2 87

.4

89

.1

93

.1 10

5.5 12

1.0

12

3.4

12

8.2

14

0.3

15

2.4

14

1.3

11

8.7

95

.0

83

.8

82

.3 90

.6 97

.9 11

1.7

11

2.8

11

9.9

12

7.3 1

47

.8

14

2.6

13

6.1

13

5.9

13

8.0

12

6.5

12

6.5

12

6.8

13

5.1

12

6.9

12

5.1

12

6.6

13

7.1

13

2.9

13

6.2

13

5.7

14

5.3

13

9.1

13

5.8

14

2.2 15

6.9

15

8.6

16

3.3

17

0.2

18

1.8

17

7.3

18

2.4

18

7.7 2

08

.2

21

0.8

0

1000

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Fee E

arn

ers

Gro

ss P

rofit

(£m

) as r

eport

ed

Record fee earners, record gross profitInvestment reflects confidence in growth markets

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2015 2016 20172014 2018

Q2 18 Constant currency

Regional Review

Steve Ingham, Chief Executive Officer

Q2 18


48%

20%

17%

15%

25%25%25%25%EMEA Asia Pacific UK Americas

Highest quarterly growth rate for 7 years

Gross Profit

by Geography

Q2 2018 £m 2017 £m Reported % Constant %

EMEA 100.0 83.5 +19.8% +18.6%

Asia Pacific 41.3 35.8 +15.3% +18.4%

UK 36.0 36.6 -1.9% -1.9%

Americas 30.9 25.9 +19.6% +29.2%

Group Total 208.2 181.8 +14.5% +16.0%

20 countries achieved YoY growth of over 20%

10

• A record quarter for our Large, High Potential markets +24%

• Americas fastest growing region, record quarters in North and Latin America

Q2 18


France33%

S. Europe22%

Germany15%

Benelux15%

Other15%

• Michael Page (56% of EMEA) +21%, Page Personnel (44%) +16%

• France, second largest country in the Group +15%

• Germany +25%, Michael Page Interim +38%

• Benelux +24%, with strong growth in Belgium and the Netherlands

• Record quarter for Southern Europe +15%

• Middle East & Africa +30%

11

48% of Group

Gross Profit

by Geography

EMEA saw strong market conditionsGross profit records in France, Germany and 5 other countries

£m Period 2018 2017Reported

%

Constant

%

Gross Profit

Q2 100.0 83.5 +19.8% +18.6%

H1 194.8 162.1 +20.2% +18.5%

Headcount 3,175 2,718 +16.8%

Q2 18


Greater China43%

Australasia25%

SE Asia & India18%

Japan14%

• Greater China, our third largest market and 9% of the Group,

a record quarter +18%

• South-East Asia, strong performance +18% including

Singapore +25%; opened in Vietnam

• India +27%, with over 100 fee earners; Japan +35%

• Australia +10%, following fee earner investment and new

Canberra office

20% of Group

Gross Profit

by Geography

Asia Pacific continues strong growth8 countries achieved YoY growth of over 10%

12


%

Constant

%

Gross Profit

Q2 41.3 35.8 +15.3% +18.4%

H1 74.2 66.7 +11.3% +16.3%

Headcount 1,660 1,298 +27.9%

Q2 18


London34%

North24%

South24%

Midlands18%

• Brexit continued to weigh on market sentiment

• Page Personnel +5%

• Michael Page -4%

• Midlands was strongest performing region

17% of Group

Gross Profit

by Geography

UK remained challengingAlthough positive growth in Page Personnel

13


%

Gross Profit

Q2 36.0 36.6 -1.9%

H1 69.7 73.0 -4.5%

Headcount 1,395 1,424 -2.0%

Q2 18


USA51%

Brazil13%

Mexico13%

Canada6%

Rest of Latam17%

• Record quarters for US +27% and Canada +30%

• Particularly strong growth in US excluding New York +38%

• Latin America +32%; Mexico +25%, Brazil +23%

• Other four countries in Latin America +46%

14

15% of Group

Gross Profit

by Geography

Americas was our fastest growing regionAll countries achieved growth of over 20%


%

Constant

%

Gross Profit

Q2 30.9 25.9 +19.6% +29.2%

H1 57.3 50.2 +14.1% +24.9%

Headcount 1,227 1,008 +21.7%

Page Vision & Digital

Steve Ingham, Chief Executive Officer

Q2 18


Progressing towards Page Vision

Aiming for fee earner to operational support staff ratio of 82:18

2009

Vision

£352m

Prior 12

months**£674m

£1bn

£756mLast 12

months*

Gross Profit

2009

Vision

3,549

2017 7,029

10,000

7,457HY 18

Total Headcount

* Period H2 2017 to H1 2018

** Period H2 2016 to H1 201716

Q2 18


ACQUIRE ENGAGE NURTURE

Connected Customer Experience

Platform

17

Q2 18


Continuing a personalised journey

On-site Job Matching technology Relevant content

18

Summary

Q2 18


Expect Operating Profit to be slightly ahead of Consensus

Strong net cash position of c. £85m

Record fee earner headcount

Continued investment in Large, High Potential markets

Gross Profit +16.0% in constant currency

First ever quarter with over £200m Gross Profit

20

A record Gross Profit performanceHighest growth rate for 7 years

Appendix

Q2 18


22

Delivering on our global diversification strategy

A growing international business

61%

39%

76%

24%

83%

17%

FY 2007 FY 2013 Q2 2018

Gross Profit

InternationalUK

Q2 18


23

71% 71%

89% 91%

29% 29%

11% 9%

EMEA UK Asia Pacific Americas

Temp Perm

85%

60%

15%

40%

Michael Page Page Personnel

Geography Brands

Significant variations in recruitment mix

Q2 18


1,174

1,657 1,657 1,466 1,444

1,708 2,075

2,763

3,837 3,654

2,515

3,273

3,797 3,624 3,810

4,278 4,484

4,711

5,497 5,816

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

1990-99 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Fe

e E

arn

er

He

ad

co

un

t

AMERICAS

ASIA

PACIFIC

EMEA

24

1985-1990 1990-19992000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Portugal

(2000)

Switzerland

(2001)

Belgium

(2002)

Sweden

(2002)

Poland S Africa

Ireland

UAE

Austria

Turkey

Luxembourg

Morocco

ThailandIndonesiaTaiwanIndia

Malaysia

New

Zealand

Japan

(2001)

China

(2003)

Australia

(1985)

USA (1998) Brazil (2000) Canada Mexico Chile Colombia Peru

INT

ER

NA

TIO

NA

L G

RO

WT

H

France

(1986)

Netherlands

(1987)

Germany

(1993)

Spain

(1997)

Italy

(1997)

Hong Kong

(1995)

Singapore

(1996)

EMEA

APAC

UK

Americas

Argentina

UKASIA

PACIFICEMEA AMERICAS

Notable fee earner and international growth

Q2 18

Vietnam

Q2 18


25

0

1000

2000

3000

4000

5000

6000

7000

H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1

He

ad

cou

nt

Fee Earner Support Staff

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Fee earner investment and support staff

Q2 18


26

2016 2017 2018

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

EMEA +10.3% +13.6% +10.4% +12.4% +14.8% +13.2% +12.6% +19.3% +18.2% +18.6%

Asia Pacific -2.0% -3.3% -4.7% +1.7% +3.9% +6.8% +13.9% +14.9% +13.8% +18.4%

– Asia -1.5% -6.9% -7.9% -0.5% +3.6% +10.2% +21.9% +20.8% +17.8% +21.2%

– Australasia -3.0% +6.6% +3.9% +8.1% +4.7% -1.5% -4.4% +0.7% +4.3% +10.6%

UK +0.0% -2.3% -4.7% -6.7% -0.1% -4.5% -7.6% -2.8% -7.1% -1.9%

Americas -0.6% -1.1% -2.0% +0.9% +15.2% +13.8% +18.4% +18.8% +20.4% +29.2%

– North America +9.2% -1.9% -10.8% -8.4% +12.5% +14.6% +26.5% +18.7% +16.4% +27.0%

– Latin America -9.8% -0.1% +9.6% +14.3% +19.2% +12.8% +9.1% +19.0% +25.7% +32.2%

Group Total +3.6% +3.7% +1.3% +3.8% +9.1% +7.7% +8.8% +13.8% +12.3% +16.0%

Year-on-Year Gross Profit Rates

Q2 18


27

Contacts

Jeremy Tatham – Group Financial Controller

Tel: +44 (0) 1932 264 143

Email: [email protected]

Web: http://www.page.com/investors

Date Event

8 August 2018 HY 2018 Results

10 October 2018 Q3 2018 Trading Update

Contacts and Calendar

Q2 18


28

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PageGroup plc disclaims any intention or obligation to revise or update any forward-looking statements that may be made

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performance. Liability arising from anything in this presentation shall be governed by English Law. Nothing in this

presentation shall exclude any liability under applicable laws that cannot be excluded in accordance with such laws.

Disclaimer

Documents

Steve Ingham Chief Executive Officer · First ever quarter with over £200m Gross Profit 20 A record Gross Profit performance Highest growth rate for 7 years. Appendix. Q2 18 Headline