2013 - Teleperformance

Transcription

TELEPERFORMANCE
INVESTOR PRESENTATION
November 2013
OUTLINE
GROUP OVERVIEW
Q3 2013 REVENUE & OUTLOOK
APPENDICES
2
1. GROUP OVERVIEW
DETAILED TABLE OF CONTENTS
TELEPERFORMANCE AS OF TODAY
5
ONE OF THE 1ST 150 EMPLOYERS
6
TELEPERFORMANCE MISSION
7
POSITIONING – GLOBAL LEADERSHIP
8-9
A growth story continuing
Competitive landscape
A GROWING MARKET
Business analysts bullish about the next five years
The mobile revolution by 2016
TELEPERFORMANCE STRATEGY
8
9
10-11
10
11
12
TELEPERFORMANCE LEADERSHIP ASSETS
Strong geographical mix
Strong, diversified client base
A Worldwide integrated network
People strategy = Care
Our own processes = Discipline
Innovation – Multilingual Hub Solution
Innovation – Customer Experience Lab
Innovation – Offering Social Media solutions
Multichannel Approach - TLSContact
Strong recognition of Group strategy in the market
Recent evolution of the Corporate Governance
A proven international management and organization
Interests of managers and shareholders aligned
An international capital ownership
2. Q3 2013 REVENUE
& OUTLOOK
TELEPERFORMANCE’S VALUE STRATEGY
Q3 2013 REVENUE – SOLID LIKE-FOR-LIKE GROWTH
31
Q3 2013 REVENUE – REVENUE GROWTH IN THE FIRST 9 MONTHS 2013
32
Q3 2013 REVENUE – LIKE-FOR-LIKE REVENUE GROWTH IN ALL GROUP REGIONS
33
OUTLOOK
34
13-28
13
14
15-16
17-18
19
20
21
22
23
24
25
26
27
28
29
APPENDICES
FROM PAGE 37 T0
PAGE 52
See appendices
table of contents
page 36
3
GROUP OVERVIEW
TELEPEFORMANCE AS OF TODAY
THE WORLDWIDE LEADER IN OUTSOURCED MULTICHANNEL CUSTOMER
EXPERIENCE MANAGEMENT
Founded in
2012 revenue
1978
€2.3bn
105,000+
146,000
Workstations*
Employees*
Operations in
46 countries
Countries where we operate
Main countries served but no operations
Teleperformance, the worldwide leader in outsourced multichannel
customer experience management, serves companies around the
world with customer care, technical support, customer acquisition
and debt collection programs.
* 2013 Estimates
5
ONE OF THE 1ST 150 EMPLOYERS WITHIN THE WORLD
POSITIONNED IN KEY STRATEGIC MARKETS
146,000
employees
worldwide
Country
Employees
(2013 Estimate)
1
UNITED STATES
21,356
2
PHILIPPINES
20,358
3
MEXICO
17,310
4
BRAZIL
15,081
5
COLOMBIA
8,842
6
UNITED KINGDOM
7,780
7
TUNISIA
5,521
8
INDIA
4,377
9
FRANCE
4,306
PORTUGAL
3,876
10
c.50%
6
TELEPERFORMANCE MISSION
THE "OIL" IN THE 21ST CENTURY ECONOMIC ENGINE
THE MISSION
« People interacting with people, helping them to solve their day to day issues »
Managing People
 Care and discipline
 Streamline process
to gain efficiency
BUSINESS
PROFILE
BUSINESS
VALUE
«The Oil» in the 21st Century
Economic Engine
 Quality
 Security
 Reliability
SUCCESSFUL BUSINESS MODEL
Vertical expertise, quality of delivery and long term business partnership driving growth
and margins
7
A GROWTH STORY CONTINUING…
MASS MARKETING
(Ph. Kotler)
Tactical telemarketing
Phone as an additional
marketing tool efficient,
fast and powerful
Outbound activity
1978
TELEPERFORMANCE
#1 IN FRANCE
* Source: Ericson forecasts - 2012
TOTAL QUALITY
MANAGEMENT
Client part of companies
strategy
Client satisfaction
Customer care
“Green numbers”
1985
1995
TELEPERFORMANCE
#1 IN EUROPE
CUSTOMER RELATIONS
MANAGEMENT
Efficient client services
Markets opened to
competition
Inbound activity
2010
CUSTOMER EXPERIENCE
MANAGEMENT
MOBILE REVOLUTION
X 4 in mobile devices*
X 40 in exabyte traffic*
With voice traffic still
forecast to double!*
2016
TELEPERFORMANCE WORLDWIDE
LEADER
8
COMPETITIVE LANDSCAPE
 Teleperformance, No. 1 worldwide in the customer experience management market
 6% of market share in a fragmented market
Ranking by revenue (US $ millions)
$3 500
$3,028
$3 000
2012
$2,432
$2 500
9 months 2013
$2,319
$2,005
$2,000
$2 000
$1 500
$1 000
$500
$-
Ranking by number
of countries
of implementation
(2012)
$1,519
$1,846
$1,429
$1,198 $1,163 $1,128
$1,281
$860
$1,067
$899
$875
$928
$781
$748
$641
#
Competitors
1
2
3
4
5
6
Teleperformance
Transcom
Sitel
Stream
Sykes
Atento
46
28
24
22
20
16
7
Convergys
15
8
9
10
11
EGS
Teletech
West (Comm.)
Contax
14
13
5
4
Countries
Sources: companies. FX rate used for 2012: 1€ = US$1.29 and 1BRL = US$0.51. FX rate used for 2013 1€= US$1.30 and 1BRL = USD$ 0.47
1. West revenues are for Communications segment only, which represents 45% of the total company
2. Following the acquisition of Atento by Bain Capital in Q4/2012, Atento no longer discloses its financial results.
3. In 4/2012 NCO and APAC completed the merger. The new holding company Expert Global Solutions does not disclose quarterly results.
4. Arvato is a subsidiary of Bertelsmann Group and does not disclose financial results for Arvato Customer Services only.
9
A GROWING MARKET (1)
BUSINESS ANALYSTS BULLISH ABOUT THE NEXT FIVE YEARS
Worldwide outsourced Customer
Interaction Market (2012-2017)
(US$bn)
48
50
53
57
60
63
 2012-2017 market forecasts: CAGR > 5%
 Only 25% of the potential market is outsourced
 Growing trend toward outsourcing as:
2012
2013
2014
2015
2016
2017
Source: IDC May 2013. Worldwide outsourced interaction customer market including
customer services, marketing & technical support/help desk, excluding debt collection.
Outsourcing rate of the market
(in value)
Outsourced
25%
In house
75%
 Companies seek to optimize costs while
improving the customer experience thanks
to state-of-the-art customer experience
management
 Leading outsourcers offer reliable
solutions thanks to their experience,
bandwidth and integrated dedicated
resources
 Vendor consolidation
 Reduced number of provider per client
favoring market’s leaders
Source: IDC et Kaulkin & Ginsberg
10
A GROWING MARKET (2)
THE MOBILE REVOLUTION BY 2016
 The Mobile Revolution is transforming services and many knowledge products
into portable software with all the needed related support
ENTERTAINMENT
•
•
•
•
•
•
Books
Music
Games
Video
Information
Photos…
PUBLIC SECTOR
•
Digital :
 Identification
 Authorization
 Payment
TRAVEL &
TOURISM
FINANCE
•
•
•
E-cash
Credit cards
Mobile payment
•
•
TRANSPORTATION
•
Digital services
•
•
•
•
localization
Dispatch
Package pick up
Tracking delivery
Damaged goods
claims
Online travel
agents,
Electronic checkin process…
EDUCATION
•
•
•
HEALTHCARE
•
•
•
Health
monitoring
Pandemic crisis
Immediate
access to
service/solutions
E-learning
MOOC*
iTunes University
RETAIL
•
•
•
E-Retail
Supply Chain
support
Up-selling and
cross-selling
* Massive Open Online Courses
11
TELEPERFORMANCE STRATEGY
A DIFFERENTIATED POWER
 Leadership assets to take advantage of market evolutions
 Boosting marketing and business development
 Focusing on “vertical expertise”
 Developing “multi-channels” customer experience management
12
STRONG GEOGRAPHICAL MIX
 94% of revenue generated in profitable, leading economic and growing regions
 Where the Mobile Revolution is first happening
 On-going improvement in the regional mix over the last 4 years
Change in revenue by region
(2012 vs 2011)
€M
Revenue mix (2012)
1000
CEMEA
29%
900
800
700
600
IberoLATAM
31%
500
400
300
200
EWAP
39%
100
0
CEMEA
Ibérico-LATAM
EWAP
13
A STRONG, DIVERSIFIED CLIENT BASE
 Loyal client base
 Top 20 representing 48% of sales
 Serving a wide diversity of industries
 Average seniority of client relationship: 12 years
Top clients as a % of revenue
(2013 Estimate)
Share of revenue by sector
(2013 Estimate)
Other
Top 1
Energy
Top 5
Top 10
Top 20
Top 50
Top 100
22%
7%
22%
34%
48%
Public sector
3%
Insurance
3%
Finance
68%
Technology & Electronics
82%
4%
Cable - Pay TV
Telecom - Internet
9%
12%
14%
33%
14
A WORLDWIDE INTEGRATED NETWORK – A UNIQUE OFFERING
OF SOLUTIONS
 Only player in the industry able to offer worldwide integrated Domestic, Nearshore &
Offshore solutions
15
A WORLDWIDE INTEGRATED NETWORK – A UNIQUE OFFERING
OF SOLUTIONS
 23 Nearshore/Offshore locations
 Development of Nearshore/Offshore solution
Share of revenue by sourcing evolution 2013 (Est.) vs 2012
Share of revenue by sourcing
(2013 Estimate)
100%
Nearshore / Offshore
29%
80%
74%
60%
71%
Domestic
40%
Nearshore/offshore
20%
29%
26%
Domestic
71%
0%
2012
2013
(Estimate)
16
PEOPLE STRATEGY = CARE
 Our people strategy, a key factor of differentiation
 Satisfied employees make satisfied customers making satisfied clients

RECRUITING
Processes based on our worldwide best practices on how to attract the right
people

TRAINING
Flexible learning paths with customized development plans according to each
employee's expectations and needs - with convenient access at anytime from
anywhere in the world (E-learning): Teleperformance E-Institute

CAREER
Based on dedicated training program, the program assists employees in becoming
leaders by evolving from contact center advisor to supervisor, from supervisor to
coordinator and finally, from coordinator to manager: JUMP
17
PEOPLE STRATEGY = CARE

Premium Campus concept
 Promoting well-being and a higher
quality of life creating a happy and
pleasant work environment and
minimizing employee stress
 Privileged and strategic work locations
 Attractive, comfortable and ergonomic
architecture and workplaces
 Leed certifications, relaxing rooms, gym
and self education e-learning

Teleperformance Colombia - Bogota
Other initiatives to promote arts and sports
For Fun Festival: worldwide contest of art,
dance and music
Sport club: worldwide initiative to
encourage employees to share by playing
teams sports together
18
TELEPERFORMANCE PROCESSES = DISCIPLINE
 Teleperformance processes developed to ensure same quality, consistency and
security in the services delivery in all countries
 Different tools and exclusive methodologies to increase quality and
performance in all our programs around the world
 Structured processes to define, share and ensure the implementation
of worldwide best practices, assuring consistency and quality in all
operations
 Teams of experts focused in each one of our clients’ KPIs with the
objective of continuously improving the performance of their
programs
 An information security strategy ensuring that we’ll always be ahead
of the market in security practices.
 The quality of our management systems are certified (ISO, COPC, PCI)
and led us to recognized compliance leadership
19
INNOVATION – MULTILINGUAL HUB SOLUTION
 Addressing the mid-size pan-European programs with
state-of- the art multilingual campus
 Strong Multilingual Hub Network: 5 countries
Portugal, Greece, Egypt, Turkey and the Netherlands
 Serving 40 markets in numerous languages
Arabic, Bulgarian, Croatian, Czech, Danish, Dutch, English, Finnish,
Flemish, French, German, Greek, Hungarian, Italian, Latvian, Lithuanian,
Norwegian, Polish, Portuguese, Brazilian Portuguese, Russian, Slovakian,
Slovenian, Spanish, Swedish…
 Across all channels of interaction
Telephone, Fax, Email, Chat, Post, Call-Me-Now, Social Channels
 Extremely successful in attracting young graduates from every
European country by providing beneficial “life experiences”
 Recent extension in Lisbon (2013) with the new Atlantico site,
reflecting continuing success of the solution
Teleperformance Portugal - Lisbon
20
INNOVATION - TELEPERFORMANCE CUSTOMER EXPERIENCE LAB
 The Teleperformance CX Lab is an innovative center
for the research of specific issues related to changing
customer behaviors with a focus on major drivers of
satisfaction across geographies and sectors.
 The Lab is supported by a team of specialists and
researchers with the capability to develop projects
in 20+ languages bringing together skills in areas
such as customer care, industry research, analytics,
social media, internet interactions, and mobile
services.
21
INNOVATION : OFFERING SOCIAL MEDIA SOLUTIONS
 e-Performance:
A digital solution including monitoring, in-depth
analysis and advocacy of social media
 3 component solutions:
 Social media mapping
 Social media strategy
 Actionable insights
A SUCCESSFUL
SOLUTION IN THE UK
 The e-Performance Hub in Portugal (example)
 Servicing 7 languages (English, French,
German, Italian, Spanish, Turkish and
Portuguese) and 14 countries
 Through agents with native capabilities
 Social media clients in diversified sectors:
Retail, Electronic, Technology, Financial services,
Pay TV, Medicine…
Teleperformance partnership with
National Health Service Blood &
Transplant (NHSBT):
- Acting as a social media manager;
- Turning negative postings into
positive;
- Checking all tweets and postings
through a quality control process.
22
MULTICHANNEL APPROACH : TLSCONTACT OFFERING VISA
OUTSOURCING SOLUTIONS
 Joined Teleperformance in 2010 - complete full
acquisition in 2013
 A pioneering BPO company specialized on
Face-to-Face contact centers
 Main reference so far:
 Outsourcing of visa application for
diplomatic missions
 Strong Teleperformance position in the
public sector
 Countries :
 Served : France, Germany, Italy,
Netherlands, Switzerland and UK
 Operations : 50 countries
FOCUS ON THE CONTRACT SIGNED
WITH THE UK HOME OFFICE (UK
Visas & Immigration)
 Starting on April 2014
 300M GBP over 9 years
 2 regions covered: Africa and
Euro-Med
 Allowing the Home office to offer
more services in more locations
around the world
 Making it easier for people to
apply to come to the UK
23
2013 CONTINUING STRONG RECOGNITION OF GROUP STRATEGY IN THE
MARKET
• “Best progression among SBF 120 index
companies” for its financial information
• Teleperformance is elected one of the 70
“Best Companies To Work For” in Brazil
• Teleperformance Wins Great Place to Work®
Award – India
• Teleperformance Named a Best Place to
Work in Greece
• TLScontact ranked a Best Company to
Work® for in Greater China
• First in class Data Security and DRP:
Finalist award 2011-2012 “Best Security
team” SC Magazine
• Frost & Sullivan Brazilian Competitive Strategy
Innovation & Leadership Award
• Frost & Sullivan Argentinean Customer Value
Leadership Award
• Frost & Sullivan Asia Pacific Contact Center
Outsourcing Service Provider of the Year
Award
• Special recognition for sustained industry
leadership 20 Global Awards: 2006 – 2012.
• Teleperformance is positioned as a
Worldwide Leader in the 2012 Gartner
Magic Quadrant for Customer
Management Contact Center BPO
• Teleperformance UK Wins International
Award for Best Use of Social Media in the
Contact Center
• Teleperformance Portugal wins 4 Contact
Center World awards
• Teleperformance is a recipient of the 2013
CRM Magazine Service Leader Winner in
the Outsourcing category.
• TLScontact wins BSI Excellence Award Excellence Information Security
Management
• IDC Market Scape: Worldwide Customer
Care BPO Services 2013 Vendor Analysis
24
RECENT EVOLUTION OF THE CORPORATE GOVERNANCE
 Improving Corporate Governance:
 Respecting the commitment to separate the functions
of Chairman and CEO
 Daniel Julien is Executive Chairman
 Paulo César Salles Vasques is CEO
 Ensuring a smoothly transition
 Transitioning executive leadership to a younger generation,
 …while continuing to benefit from the experience
and knowhow of the historic leadership (Group and world markets
knowledge)
Daniel JULIEN
Chairman of the Board
of Directors
 3 years transition period
 A Management Model:
 Decision made together
 2 different generations for common goals to comfort our Group
worldwide leadership
Paulo César SALLES VASQUES
Chief Executive Officer
25
A PROVEN INTERNATIONAL MANAGEMENT AND ORGANIZATION
CHAIRMAN OF THE
BOARD
CHIEF EXECUTIVE
OFFICER
DANIEL JULIEN
PC SALLES VASQUES
UNITED STATES (Miami)
WORLDWIDE ORGANIZATION PER REGION
EWAP
CEMEA
IBERO-LATAM
UNITED STATES(Salt Lake City)
FRANCE (Paris)
MEXICO (Monterrey)
WORLDWIDE ORGANIZATION PER EXPERTISE
MARKETING ET
DEVELOPMENT
FINANCE
IT/ TECHNOLOGY
BRAZIL (Sao Paulo)
FRANCE (Paris)
UNITED STATES (Salt Lake City)
GERMANY(Francfort)
26
INTERESTS OF MANAGERS AND SHAREHOLDERS ALIGNED
 An incentive share plan was implemented in June 2013
 The share plan is dedicated to 120 corporate officers whose contribution is key to the
Group’s development
 The allotment is subject to strictly defined and demanding criteria to align employee
performance and shareholder interests
 The vesting period is 3 years (2013-2015)
 Performance cumulative criteria:
 + 16,0 % of growth sales at constant exchange rate
 + 27,0 % EBITA growth
 ROCE (Return on capital employed) greater than or equal to 12.5 % after tax
27
AN INTERNATIONAL CAPITAL OWNERSHIP (AS OF 31 MARCH 2013)
 Listed on the NYSE Euronext Paris market
 An international shareholding structure reflecting the Group’s global footprint
Split by region
United Kingdom
11%
Others
17%
Others include:
Daniel Julien
Institutional
investors
83%
Continental
Europe *
25%
North
America
39%
% Capital
1.2%
Treasury shares
2.1%*
Retail investors
10.5%
France
25%
* Excluding France
* Shares distributed to Group managers in July 2013
28
CONCLUSION
TELEPERFORMANCE’S VALUE CREATION STRATEGY
Teleperformance’s value creation
strategy
Increase in ROCE
over the next 3 years
> 12.5%
by 2015
 Focus on organic growth in revenue
by developing new verticals and leveraging
the mobility revolution
 Increase EBITA margin by expanding in highmargin markets (Americas) and recovering
in key countries in Europe
11.3%
8.8%
9.1%
2010
2011
 Best allocation of resources
and tight capex discipline
 Selective M&A strategy
targeting the US market in priority
2012
2015
29
Q3 2013 REVENUE AND
OUTLOOK
Q3 2013 REVENUE
SOLID LIKE-FOR-LIKE GROWTH
 Q3 2013:
+ 7.7% like-for-like
 First 9 months 2013:
+ 8.2% like-for-like
 Business momentum continuing to be strong
 Strong regional mix
€ millions
2013
2012
Q3
587.3
579.5
€ 1 = US$1.32
€ 1 = US$1.29
€/$ exchange rate
9 months
1,783.5
1,706.4
% Change
Reported
+ 1.4%
+ 4.5%
Like-for-like
Revenue split - 9 months 2013
Ibero-LATAM
EWAP
32%
39%
+ 7.7%
+ 8.2%
CEMEA
29%
31
Q3 2013 REVENUE
REVENUE GROWTH IN THE FIRST 9 MONTHS 2013
 Reported growth: + 4.5%
 Weakening of certain world currencies vs the euro
 Stronger negative currency impact in Q3 vs previous quarters
€ millions
+ 134.9
1,783.5
Organic growth
9 months 2013
1,706.4
1,648.6
(57.8)
9 months 2012
Currency effect
9 months 2012
Like-for-like
32
Q3 2013 REVENUE
LIKE-FOR-LIKE REVENUE GROWTH IN ALL GROUP REGIONS
Q3 Revenue by Region
+ 3.8% lfl
+ 8.6% lfl
158
173
+ 12.2% lfl
(€ millions)
238 233
 EWAP
 High base of comparison in Q3
 Well-oriented business in North America
(new sectors)
183 181
 Booming growth in Asia supported by
business with international clients
 Ibero-LATAM
CEMEA
Ibero-LATAM
Q3 2012
EWAP
 Continuing sustained growth despite high
base of comparison in Q3
Q3 2013
9 months Revenue by Region
(€ millions)
+ 3.3% lfl
503 520
+ 13.8% lfl
543 575
+ 7.6% lfl
660 688
11,3 %
 New capacities to sustain future growth
 CEMEA
 Acceleration in most countries in Q3,
despite high base of comparison
 Successful multilingual euro hub solutions
11,1 %
CEMEA
 Brazil, Colombia, Mexico and Portugal
performing well
Ibero-LATAM
9 months 2012
EWAP
 Recovery in Italy, Germany and Nordics
9 months 2013
33
OUTLOOK
 2013 full-year organic growth objective
 Like-for-like revenue growth of at least + 7%
 2013 full-year recurring EBITA margin objective
 9.3%, up 20 bp vs 2012
 2014 outlook
 Growth investment made in 2013 should trigger continuing
growth in revenue, EBITA margin and ROCE
34
APPENDICES
LIST OF APPENDICES
TOP MANAGEMENT BACKGROUND
PREMIUM SOLUTION: TP PLATINUM
37
38
INNOVATION - TELEPERFORMANCE ANALYTICS
39
CORPORATE SOCIAL RESPONSIBILITY
40
REVENUE ANALYSIS (BY SERVICE AND CONTACT)
41
CURRENCY EXPOSURE
42
FIRST-HALF 2013 RESULTS
44-50
SUMMARY P&L
44
REVENUE BY REGION
45
ENGLISH LANGUAGE MARKET & ASIA-PACIFIC (EWAP)
46
IBERO-LATAM
47
CONTINENTAL EUROPE & MEA
48
FINANCIAL STRUCTURE
49
SUMMARY BALANCE SHEET
50
DIVIDEND POLICY
KEY FIGURES (2008-2012)
51
52
36
TOP MANAGEMENT BACKGROUND
Daniel JULIEN
Paulo César SALLES VASQUES
Chairman of the Board of Directors
Chief Executive Officer
 Founder of Teleperformance in 1978
 A success story
• At the age of 25, with 10 phones lines,
creation of the telemarketing company
Teleperformance in an office in Paris
• Becoming the French leader in 1985,…
• …the European leader in 1995 and…
• ….currently the no. 1 outsourced call
center operator worldwide
 Appointed in June 2013 as the new
Group CEO
 A sound track record
• 43 years old, engineer, 8 years
seniority with the Group
• Formerly CEO of Teleperformance
Brazil, leading the company
in the recent years to outstanding
success
• …and Group Global Chief Marketing
Officer, having been the driving force in
the implementation of the Group’s
people strategy
37
TELEPERFORMANCE PREMIUM SOLUTION
TP PLATINUM: A KEY DIFFERENTIATOR

Premium solution adopted by companies developing a
segmentation strategy in order to secure their most valuable
customer base

A strong development:


More than 60 programs in all regions and more
particularly in Ibero-LATAM and CEMEA regions

Around 3,200 employees in 2013 (+39% vs 2012)
Diversified sectors : Technology, Finance, Pay TV, Airlines,
Consumer Services
OUTSTANDING RESULTS
11% improvement in quality monitoring
score compared to other programs
25% reduction in Repeated Calls
15% increase in First Call Resolution
17% Higher Productivity (speaking time
per agents)
INNOVATION
TELEPERFORMANCE ANALYTICS
 Teleperformance Analytics:
Tailor-made solutions to help companies identify and
prioritize points of improvement, and increase
efficiency through a better understanding of their
customers.
 3 solutions:
 Understand, analyze and improve the customer
journey
 Reduce wasted cost and improve the customer
experience for inbound calls
 Predict the propensity of individual customers
towards a targeted behavior, improving your
understanding of your customers, and
increasing profitability.
39
CORPORATE SOCIAL RESPONSIBILITY
OUR INITIATIVES
Teleperformance’s
charitable initiative to help
some of the world’s most
vulnerable infants and
children meet their basic
survival needs and
ultimately reach their
individual potential
Teleperformance’s
commitment to reduce
environmental impacts by
having sustainable
practices, as well as
disseminating these
practices and
environmental information
in order to assure our world
future.
Teleperformance embraces,
practices and disseminates,
the Principles of the United
Nations Global Compact,
within their sphere of
influence, a set of core
values in the areas of
human rights, labor
standards, the
environment, and anticorruption.
40
REVENUE ANALYSIS
A GLOBAL INDUSTRY LEADER
 Mostly Inbound*services
 Mostly Customers services and Technical support
Revenue contribution
by type of contact (2013 Estimate)
Face to face,
email, chat Other
3% 2%
Outbound services
12%
Revenue contribution
by type of service (2013 Estimate)
Other
4%
Acquisitions
8%
Debt collection
5%
Technical
support
23%
Inbound* services
83%
Customer
services
60%
* Receiving calls
41
CURRENCY EXPOSURE (1)
TRANSACTION EFFECT
 Transaction effect : impact on margin
 Nearshore / Offshore activities
Share of revenue by sourcing
(2013 Estimate)
 Cost and sales in different currencies
 Exposure :
•
•
•
•
•
•
•
•
Nearshore / Offshore
29%
Philippine peso
Mexican peso
Australian dollar
Colombian peso
Tunisian Dinar
Egyptian pound
Indian rupee
Turkish lira ….
Domestic
71%
Hedging of Group annual budgets
 Domestic activities are not subject to the transaction effect :
no impact on margin
•
•
•
•
•
•
* At constant mix
US dollar
Brazilian real
Pound sterling
Swiss franc
Canadian dollar
Swedish krona…
42
CURRENCY EXPOSURE (2)
TRANSLATION EFFECT
 Translation effect : no impact on margin*
 Translation of foreign subsidiaries’ results
on consolidation in Euro
 Impact on revenue and results in value
 Main exposure :
•
•
•
US dollar
Brazilian real
Pound sterling
Share of revenue by currency (2012)
Others
15%
Colombian
peso
4%
Mexican
peso
5%
US dollar
33%
Pound
sterling
7%
Brazilian
real
9%
Euro
27%
* At constant mix
43
SUMMARY P&L
 Sustained growth in results
€ millions
Revenue
H1 2013
H1 2012
Change
€1 = 1.31US$
€1 = 1.30US$
1,196.1
1,126.9
+ 6.1%
+ 10.8%
Like-for-like growth
+ 8.4%
EBITDA before non-recurring items*
145.4
131.2
% revenue
12.2%
11.6%
EBITA before non-recurring items*
95.9
85.7
% revenue
8.0%
7.6%
Operating profit
83.0
75.3
+ 10.3%
Net profit attributable to shareholders
53.1
45.3
+ 17.2%
Diluted earnings per share (€)
0.94
0.82
+ 14.6%
* Before amortization of acquired intangible assets and non-recurring items.
+ 11.9%
44
REVENUE BY REGION
 H1 driven by robust growth in Ibero-LATAM and English-speaking market & Asia-Pacific
 Higher base of comparison in Q2
Change
€ millions
English-speaking market
& Asia-Pacific
Ibero-LATAM
Continental Europe & MEA
Total
H1 2013
H1 2012
454.8
Reported
Like-for-like
422.3
+ 7.7%
+ 9.7%
394.4
359.7
+ 9.7%
+ 14.5%
346.9
344.9
+ 0.6%
+ 0.8%
1,196.1
1,126.9
+ 6.1%
+ 8.4%
Change
€ millions
Q2 2013
Q2 2012
224.2
Reported
Like-for-like
214.2
+ 4.7%
+ 7.7%
202.5
191.7
+ 5.6%
+ 9.3%
Continental Europe & MEA
177.4
179.2
(1.0)%
(0.7)%
Total
604.1
585.1
+ 3.3%
+ 5.6%
English-speaking market
& Asia-Pacific
Ibero-LATAM
45
ENGLISH LANGUAGE MARKET & ASIA-PACIFIC (EWAP)
Revenue
422.3
(€ millions)
 Sustained growth in EWAP: up 9.7% lfl
454.8
 Steady growth in the USA, also benefiting
from an easy basis of comparison
+ 9.7%
lfl
 Expansion in China led by ramp-up of recent
contracts signed with multinational clients
224.2
214.2
+ 7.7%
lfl
Q2 2012
Q2 2013
H1 2012
H1 2013
Recurring EBITA *
(€ millions)
% revenue
40.8
39,8
 High EBITA margin (8.8%), despite the negative
currency effect on the cost base due to a weak
dollar US vs the Philippine peso
9.7%
8.8%
H1 2012
H1 2013
* Excluding holdings
46
IBERO-LATAM
Revenue
359.7
202.5
191.7
(€ millions)
 Strong growth in Ibero-LATAM: up 14.5% lfl
394.4
 Sustained growth in Brazil, Mexico, Colombia
and Portugal
+ 14.5%
lfl
 Tough environment in Argentina
 Higher basis of comparison in Q2-2013 in Brazil
and Spain
+ 9.3%
lfl
Q2 2012
Q2 2013
H1 2012
H1 2013
Recurring EBITA *
(€ millions)
% revenue
44.6
 Positive mix effect with strong growth in Mexico
and Colombia
11.3%
 Strict cost discipline demonstrated while
developing the business in Brazil
39.8
11,1%
H1 2012
 High EBITA margin (11.3%) up vs. H1 2012
 Negative impact of Argentina
H1 2013
47
CONTINENTAL EUROPE & MEA
Revenue
344.9
(€ millions)
 Contrasted performance by country
346.9
 Sustained growth in Turkey, Greece and the
Netherlands with the successful multilingual
hub solution
+ 0.8%
lfl
179.2
177.4
 Improvement in Italy in a difficult environment
(0.7)%
lfl
Q2 2012
 Difficult telco environment still impacting
volumes in France
Q2 2013
H1 2012
H1 2013
Recurring EBITA *
(€ millions)
% revenue
 Now returned to breakeven
0.4 0.1%
H1 2012
H1 2013
(1.1)%
(3.7)
48
FINANCIAL STRUCTURE
 Strong financial structure
€ millions
101.7
(33.1)
80.0
(56.5)
Net cash
as of
12/31/2012
Cash flow
€ millions
Equity
Net cash
Change
in WCR
Net
capex
62.3
(10.0)
Net
investment
(16.5)
(3.3)
Dividends
paid
Other
items
12/31/2012
06/30/2013
€1 = 1.32US$
€1 = 1.31US$
1,382.4
1,388.9
80.0
62.3
Net cash
as of
06/30/2013
49
SUMMARY BALANCE SHEET
€ millions
06/30/13
06/30/2013
12/31/12
€1 = 1.31US$
€1 = 1.32US$
1,386.0
1,376.3
2.9
6.1
1,388.9
1,382.4
Trade payables
77.7
80.5
38.5
Current income tax
19.3
32.2
104.9
95.7
Provision and deferred tax
67.5
68.7
152.9
170.4
259.6
268.6
90.5
90.3
1,903.6
1,922.8
€1 = 1.31US$
€1 = 1.32US$
Goodwill and intangible assets
781.1
800.3
Shareholders’ equity
Property, plant and equipment
277.6
275.0
Non-controlling interests
68.2
63.3
Equity capital
483.2
479.6
35.6
Other current and financial assets
Cash and cash equivalents
Other non-current assets
Trade receivables
Current income tax receivable
Other current liabilities
Bank debt
Total Assets
1,903.6
1,922.8
Capital Employed
1,338.3
1,322.1
65 *
61
Days Sales Outstanding
12/31/2012
Total Liabilities
* 66 days as of 30 June 2012
50
DIVIDEND POLICY
 Increase in the pay out ratio (2010-2012)
In €
0,80
Payde
out
ratio
taux
distribution
0.68*
0,70
0,60
34%
32%
0.46
0,50
30%
0,40
0.33
30%
0,30
28%
28%
0,20
26%
0,10
26%
0,00
24%
2010
2011
2012
in €
2010
2011
2012
Diluted EPS
1.27
1.63
2.27
* as proposed in the Shareholders’ General Meeting of May 30, 2013
51
KEY FIGURES (2008-2012)
PROVEN FINANCIAL TRACK RECORD
 A profitable growth
€ millions
2012
2011
2010
2009
2008
Revenue
2,347
2,126
2,059
1,848
1,785
EBITA
214
181
174
156
182
% revenue
9.1%
8.5%
8.5%
8.5%
10.2%
EBIT
193
152
119
130
178
Net Profit
129
95
74
89
119
Diluted EPS (€)
2.27
1.63
1.27
1.56
2.09
Net Free Cash Flow
95
86
74
123
29
Capex
110
97
103
67
69
52
INVESTOR RELATIONS CONTACT
[email protected]
+33 1 53 83 59 87
www.teleperformance.com

2013 - Teleperformance

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