ManpowerGroup 2014 Annual Report Download - page 10

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2010 2011 2012 2013 2014
1.8%
2.5% 2.3%
3.0%
3.5%
Operating Profit Margin*
(in percent)
*Excludes Non-Recurring Items as
discussed further on the Financial
Highlights pages.
2010 2011 2012 2013 2014
427.6
353.3
236.2
270.0
141.3
Net Earnings*
($ in millions)
*Excludes Non-Recurring Items as
discussed further on the Financial
Highlights pages.
OUR PERFORMANCE
Revenues increased by 4% in constant currency over 2013. Gross profit margin improved during the year,
as we’ve seen an expansion of our staffing/interim margins and strong permanent recruitment growth.
With improved operating leverage and continued cost control, we achieved a significant improvement
in operating profit reaching $720 million, up by 22% in constant currency, excluding the restructuring
charges in 2013.
Earnings per share reached $5.30 per share for the year, improving 22% in constant currency, excluding
the 2013 restructuring charges.
The pace of change is increasing in the Human Age. It’s a seminal time—one in which ever-evolving
economic challenges, demographic shifts and technological advances require agility if companies
are to seize competitive advantage. Business cycles continue to compress, driven by fast-paced,
technology-enabled change. Domestic markets are subject to geopolitical risks from places far afield.
Unstable GDP makes planning difficult, while soft demand hampers business growth.
In 2014, ManpowerGroup successfully navigated this complex environment, guided by our unmatched
global perspective on world of work trends and their impact. We accelerated our performance, and that of
our clients, across our strong and connected brands through discipline and focus on what’s needed most
to win in this dynamic environment.
Individually, our brands performed well, making excellent progress, with the exception of our counter cyclical
outplacement offering, which faced increasing headwinds as the year progressed.
Annual Report 2014 | ManpowerGroup
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