ManpowerGroup 2013 Annual Report Download - page 38

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36 ManpowerGroup 2013 Annual Report Management’s Discussion & Analysis
MANAGEMENT’S DISCUSSION & ANALYSIS
of financial condition and results of operations
Financial Measures — Constant Currency and Organic
Constant Currency Reconciliation
Certain constant currency and organic constant currency percent variances are discussed throughout this annual report.
A reconciliation to the percent variances calculated based on our annual financial results is provided below. (See Constant
Currency and Organic Constant Currency on page 27 for further information.)
Amounts represent 2013
Percentages represent 2013 compared to 2012
Reported
Amount
(in millions)
Reported
Variance
Impact of
Currency
Variance in
Constant
Currency
Impact of
Acquisitions
(in Constant
Currency)
Organic
Constant
Currency
Variance
Revenues from Services
Americas:
United States $ 2,967.0 (1.4)% —% (1.4)% —% (1.4)%
Other Americas 1,543.2 (2.7) (3.9) 1.2 0.1 1.1
4,510.2 (1.9) (1.4) (0.5) 0.1 (0.6)
Southern Europe:
France 5,284.9 (2.6) 3.2 (5.8) 0.2 (6.0)
Italy 1,087.6 2.9 3.2 (0.3) — (0.3)
Other Southern Europe 864.5 12.5 4.6 7.9 1.8 6.1
7,237.0 (0.2) 3.4 (3.6) 0.3 (3.9)
Northern Europe 5,738.8 (0.6) 1.1 (1.7) 0.6 (2.3)
APME 2,447.7 (10.3) (8.9) (1.4) — (1.4)
Right Management 316.8 (3.6) (1.5) (2.1) — (2.1)
ManpowerGroup $ 20,250.5 (2.1)% —% (2.1)% 0.3% (2.4)%
Gross Profit — ManpowerGroup $ 3,366.7 (2.2)% (0.1)% (2.1)% 0.3% (2.4)%
Operating Unit Profit
Americas:
United States $ 99.8 64.2% —% 64.2% —% 64.2%
Other Americas 43.9 (13.1) (1.6) (11.5) 0.6 (12.1)
143.7 29.0 (0.8) 29.8 0.3 29.5
Southern Europe:
France 198.9 53.4 5.4 48.0 (0.1) 48.1
Italy 53.8 18.5 3.7 14.8 — 14.8
Other Southern Europe 11.9 18.1 6.5 11.6 9.3 2.3
264.6 42.9 5.0 37.9 0.5 37.4
Northern Europe 139.7 (12.6) 0.5 (13.1) 0.6 (13.7)
APME 70.8 (22.0) (8.7) (13.3) — (13.3)
Right Management 20.4 52.3 (7.3) 59.6 — 59.6
Operating Profit — ManpowerGroup $ 511.9 24.3% —% 24.3% 0.5% 23.8%