Final Results

Note: Unless otherwise specified, all lift rates in the reports provided are LFL (year-on-year), yoy (year-on-year) and imply frequent costs and benefits. WDA = Modified Proletarian Denek.

Executive Director Dirk Kahn commented:

"As we head into the 24th financial year, we have seen increasingly challenging market conditions, such as in Perm, with rates, low levels of confidence and a more prolonged "time before adoption", with profitability significantly affected, in three of our largest markets - Germany, Australia and the UK. On these criteria, we are focusing on tightening our operations, improving our consultants' labor productivity and effective cost management to build a more resilient Hays business. Our strategy, announced in February, is aimed at introducing the myriad of big deals we seek to make and increasing our resilience, profitability and the creation power of our exchange agents.

We have made a steady start to our operational restructuring and, in the conclusion of our personnel selection and staffing, we have repositioned our business to be a big favorite and to freeze. We are increasing our labour productivity and, as previously reported, achieved volume savings of within £60 million per year in the 24th economic year. Apart from this, current productivity measures will enable us to achieve daily savings of more than £30 million by the 27th.

We have a strong economic position and a team of fantastic professional colleagues around the world, whose deep loyalty to our lessons I sincerely thank every day. Our key markets remain subject to powerful megatrends and are characterized by a significant shortfall in talent that we can help our clients establish. Hays will benefit when the market recovers and, when it does, will be able to return to and even exceed previous peak indicators. ”

Group company costs fell 12%. The 8% reduction in tax rates proved more durable than permanent, falling 17%. As previously reported, operating profit before exceptional measures fell 46% year-on-year to £105 million, as the challenging conditions in our key markets continued.

Our decisive leverage has enabled us to reduce costs by the required amount to within £60 million per annum, with structural savings at the heart of this. We have reduced the Group's headcount by 15%, restructured operations and accelerated our performance improvement programme. As previously reported, this has resulted in exceptional foreign exchange costs of £42 million(2) and necessary non-monetary write-downs of £37 million(2).

Despite the decrease in market size, it provided abilities in line with the current market environment and closed in unprofitable fields, so that overall increased by 1 % yea r-o n-year, achieving a highest performance in the past. The average number of consultants is returning to the normal level, so we believe that there is a major opportunity to increase the number of fees and operating profit with the current ability.

Programs to enhance the efficiency of BEC offices, especially technology and financial fields, are expected to reduce more structural costs by about 30 million pounds annually by the end of FY2017.

Pure gold is £ 56. 8 million, and the fund conversion rate (4) is 107%good balance. In light of the confidence and good financial status of the Board of Directors for the Company's strategy, the final dividend will propose [2, 05 penses per share (stamped in the 24th year's dividend 3, 00)].

The current transactions in July and August were as expected. However, September is the most important transaction month in the first quarter, and it is too early to evaluate the trend.

Check the mediu m-term goal at 22-25 % of the conversion rate. In order to achieve this goal, the growth of the final market will recover, and then we will improve the labor productivity of consultants that exceed prices, scope, technical tools and data. In addition, the opportunity to increase efficiency by increasing the consistency of sales models and reduces group indirect costs.

Pure fees include rewards from income and other staff selection organizations from income.

The operating profit of the 24th term was before the exception costs of £ 80 million, of which £ 42 million was due to the reorganization of the group business. The remaining £ 37 million pounds are no n-financial, including £ 15. 3 million (reported in the first half of the year) by partially depreciated the US business goodwill, and £ 22. 5 million in intellectual impairment in the previous fiscal year. For details on the monopoly expenses, the bulletin is posted in Note 4. The coordination of 947 million pounds from sales (for special items) and the profit of £ 147 million is described in the consolidated profit and loss report. Exception items The promotional land profit and the adjustment of the profit per share after exceptional items are described in the note 9 in the preparatory report.

The r e-calculation coefficient is a r e-calculation of the net allowance for creating operating income for the exception.

The exchange gains obtained from sales activities will be declared as a rent of £ 51 million (FY2013: 49 million pounds). The ratio of foreign exchange vehicles obtained from sales activities for the group's operating profit is exceptional due to the conversion of currency means.

In relation to the solemn day in the largest German market in the 24th economy, there are two working days, which are actually small than the 23rd economy, which is traded for a clean fee and operating profit of £ 3, 000. there were.

Temporary employees' base margins are calculated as the ratio of the tacit fees of temporary employees and the total income of temporary employees, and are among the most temporary employees who receive a clean fee. This does not include a transaction that Hazes acts as an agent of an employee provided by an extreme dispatching company, or a transaction that Hazes mainly propose salary payments.

It reflects the Hayes Group's unpaid rate and exceptional profits.

Group's annual costbase is about 12 or 5 times the cost of the group. This is as usual.

Finance director

+ 44 (0) 203 978 2520

Investor support / ESG section manager

+ 44 (0) 333 010 7122

Guy Lamin / Anjari Unikurishenan

Financial results announcement and web broadcast

The web broadcast of the financial results briefing will be held from 8:30 am on August 22, 2024. Click or copy or copy or copy or copy HTTPS: // edge. Media-server. Com/mmc/P/KURY92JS.

The web broadcast records can be viewed on the website of the Company on the day, along with the copies and all presentations of the provided press release.

Updated the quarterly transaction information that ended on September 30, 2024 (1 square meter 25)

October 11, 2024

Updated the quarterly transaction information to end on December 31, 2024 (2 SQ 25)

January 16, 2025

Hal f-year financial results ending on December 31, 2024 (first half of 25 years)

February 20, 2025

Group company Overview Hayes

As of June 30, 2024, Haze has 11. 100 employees at 236 states of 33 states. Most of the Haze's mass market, most of the professional experts are still selected by personal power, and the involvement of human resources selection agencies is limited. This was an important moment of group diversification and internationalization. In the 24th year of the economy, in the fifth year of the economy, 80 % of the failed consignment groups had an international business.

The group's consultant is active in a wide range of economic fields and is looking for 21 specialized and specialists. In FY2014, technology (25 % of group fees), accounting / money (15 %), mechanical engineering (11 %), construction and real estate (10 %) became the largest specialized field, including these. It accounted for 61 %. In addition to international and division diversification, the group's rewards in FY2014 were 59 % from the temporary employee market and 41 % from the regular employee market. The highly diversified business model is still the highlight of our group's cash profile. In the 2024 Your Voice Sample Survey, 73%of employees said they would recommend Hazes as a wonderful workplace.

As a whole, the immediate environment is still strict, but we are responding to our expectations. September is the first quarter of the first quarte r-year war moon, and it is too early to judge the trend.

The overall values ​​in rea l-time between dispatch and contract employees ("T & amp; amp; amp ;; c") correspond to the fourth quarter (Q424) indicators, and then adjusted in a normal seasonal trend.

In Permit, as reported in the Trading Update of Q424, the Germany, the UK, and other EMEA countries were generally low due to the lack of Q424 activities.

In the last few quarters, the total number of consultants in the group is expected to be almost constant in the fourth quarter of 2014, as we have paid special attention to improving the productivity of consultants. As a whole, the current facilities of the Group are preparing for a significant increase in rewards and allowances when the main market has recovered. The substantial cost base of the phase (8) is about 82 million pounds.

It is expected that the number of working days will not have a significant impact on the first half of the 25th term and the 25th fiscal year.

The amount of work of dispatched workers and contractors is measured, and it is still expected that the amount of work in the first quarter of 2025 will increase about 8%yea r-o n-year. Also, as expected, the impact of reducing working hours of dispatch and contracted workers is weak. 5 % decrease (2Q24: 9 % decrease). Permian's work is still tough.

As expected, the aftermath of the landslide elections, the energy has been relatively reduced, and the situation has continued.

The energy level is still low compared to the second half of 1924.

The level of energy in Asia and the United States was generally lower than the second half of 24. The energy level in the European, Middle East, and Africa (EMEA) region was generally the same as the second half of the 24, except for the declining France.

Business and strategic education program for the 24th fiscal year

Due to the decrease in the trust of buyers and applicants, human resources have decreased, and the "employment period" has been greatly extended. Considering this situation, our reward characteristics fell significantly to 9 % in the first half of FY2014 and 15 % in the second half.

Temperature costs were more stable than regular employees, down 8 % and 17 %. The scale was, for example, 7 % in Permi and 25 % in temperature, but the decrease in this size in Permi was partially compensated by wage inflation and average price improvement.

The characteristic of the main market in the 24th economy was that the energy was relatively high, and the inflow of vacant seats continued. As a result, our consultant was very busy and worked quite intensively, but the Board of Directors thanks this and the thorough loyalty shown by all of our employees. However, it became difficult to fill vacant seats at the end of the year. This has a significant effect on the first place of the average consultant, that is, the labor productivity, about 15 to 20 % lower than a simple value in real time, and has a major impact on group profitability and conversion factor. I gave it.

These criteria have been doing our best to reduce costs in major markets and save production capacity. The number of consultants decreased by 18%due to natural reduction and efficiency. In other words, the average labor productivity of the first consultant increased by 1 % to the previous year, without paying attention to the significant decrease in labor productivity.

In fact, the number of consultants decreased by 9 % is for reorganization of operations in various fields, which is the control and acceleration of the program to improve the performance of the background office. It is the number. Without paying attention to these measures, the group's operating profit was exceptionally reduced by 46 %.

Creation of popular favors regarding recruitment and staff conclusions

Our job is to freeze popularity in the field of human resources and human resources. Selection of contract employees, shor t-term selection, and initial selection are our main specialties, and the arrangement of professional employees enables training employees who are lacking in clients. < SPAN> The decrease in the trust of the buyer and the applicant has reduced the number of human resources and the "employment period" significantly extended. Considering this situation, our reward characteristics fell significantly to 9 % in the first half of FY2014 and 15 % in the second half.

Temperature costs were more stable than regular employees, down 8 % and 17 %. The scale was, for example, 7 % in Permi and 25 % in temperature, but the decrease in this size in Permi was partially compensated by wage inflation and average price improvement.

The characteristic of the main market in the 24th economy was that the energy was relatively high, and the inflow of vacant seats continued. As a result, our consultant was very busy and worked quite intensively, but the Board of Directors thanks this and the thorough loyalty shown by all of our employees. However, it became difficult to fill vacant seats at the end of the year. This has a significant effect on the first place of the average consultant, that is, the labor productivity, about 15 to 20 % lower than a simple value in real time, and has a major impact on group profitability and conversion factor. I gave it.

These criteria have been doing our best to reduce costs in major markets and save production capacity. The number of consultants decreased by 18%due to natural reduction and efficiency. In other words, the average labor productivity of the first consultant increased by 1 % to the previous year, without paying attention to the significant decrease in labor productivity.

In fact, the number of consultants decreased by 9 % is for reorganization of operations in various fields, which is the control and acceleration of the program to improve the performance of the background office. It is the number. Without paying attention to these measures, the group's operating profit was exceptionally reduced by 46 %.

Creation of popular favors regarding recruitment and staff conclusions

Our job is to freeze popularity in the field of human resources and human resources. Selection of contract employees, shor t-term selection, and initial selection are our main specialties, and the arrangement of professional employees enables training employees who are lacking in clients. Due to the decrease in the trust of buyers and applicants, human resources have decreased, and the "employment period" has been greatly extended. Considering this situation, our reward characteristics fell significantly to 9 % in the first half of FY2014 and 15 % in the second half.

Temperature costs were more stable than regular employees, down 8 % and 17 %. The scale was, for example, 7 % in Permi and 25 % in temperature, but the decrease in this size in Permi was partially compensated by wage inflation and average price improvement.

The characteristic of the main market in the 24th economy was that the energy was relatively high, and the inflow of vacant seats continued. As a result, our consultant was very busy and worked quite intensively, but the Board of Directors thanks this and the thorough loyalty shown by all of our employees. However, it became difficult to fill vacant seats at the end of the year. This has a significant effect on the first place of the average consultant, that is, the labor productivity, about 15 to 20 % lower than a simple value in real time, and has a major impact on group profitability and conversion factor. I gave it.

These criteria have been doing our best to reduce costs in major markets and save production capacity. The number of consultants decreased by 18%due to natural reduction and efficiency. In other words, the average labor productivity of the first consultant increased by 1 % to the previous year, without paying attention to the significant decrease in labor productivity.

In fact, the number of consultants decreased by 9 % is for reorganization of operations in various fields, which is the control and acceleration of the program to improve the performance of the background office. It is the number. Without paying attention to these measures, the group's operating profit was exceptionally reduced by 46 %.

Creation of popular favors regarding recruitment and staff conclusions

Our job is to freeze popularity in the field of human resources and human resources. Selection of contract employees, shor t-term selection, and initial selection are our main specialties, and the arrangement of professional employees enables training employees who are lacking in clients.

Our skills reduce large companies, some local governments, small and mediu m-sized businesses and emerging companies. We lead the market directly by providing outsourcing and guided offer (MSP) in the market, and also owns recruiting process outsourcing (RPO) leading skills. In each of these fields, there is a great possibility to strengthen relationships with customers, and it is considered to be a company's revenue target.

Focusing strategy and achieved progress

Despite the difficult life since its founding, we are not satisfied with the 24th economic economic indicators. We are one of the most wonderful and most growing human resources in the world as one of the most popular market, and our intended strategy, which was announced in the first half of FY2014, utilizes recovery. It is designed to create a better hazy condition to apply the countless skills of the appearance that we are delayed. It also strengthens our stability, quality of profits, and the production of foreign exchange agents.

We are actually waiting on normal market standards, and all the focus of the company can guarantee at least 25 % of conversion coefficients (at the central cost), and conversions in the group in the group. The coefficient is 22-25 %. The advantage of £ 250m, in return, in our program, and beyond the previous peak.

Our goal strategy is based on the 5 strategic lever:

In the future, strengthen the priority position in the more necessary messages categories;

Strengthen interest in more competent and highly paid position;

Strengthen interest in the continuous and growing industry and market;

Continue to build more sustainable business with clients and candidates.

Increase rewards that have nothing to do with the same work in all dispatched squads. < SPAN> Our skills reduce large companies, some of the local governments, small and mediu m-sized businesses and emerging companies. We lead the market directly by providing outsourcing and guided offer (MSP) in the market, and also owns recruiting process outsourcing (RPO) leading skills. In each of these fields, there is a great possibility to strengthen relationships with customers, and it is considered to be a company's revenue target.

Focusing strategy and achieved progress

Despite the difficult life since its founding, we are not satisfied with the 24th economic economic indicators. We are one of the most wonderful and most growing human resources in the world as one of the most popular market, and our intended strategy, which was announced in the first half of FY2014, utilizes recovery. It is designed to create a better hazy condition to apply the countless skills of the appearance that we are delayed. It also strengthens our stability, quality of profits, and the production of foreign exchange agents.

We are actually waiting on normal market standards, and all the focus of the company can guarantee at least 25 % of conversion coefficients (at the central cost), and conversions in the group in the group. The coefficient is 22-25 %. The advantage of £ 250m, in return, in our program, and beyond the previous peak.

Our goal strategy is based on the 5 strategic lever:

In the future, strengthen the priority position in the more necessary messages categories;

Strengthen interest in more competent and highly paid position;

Strengthen interest in the continuous and growing industry and market;

Continue to build more sustainable business with clients and candidates.

Increase rewards that have nothing to do with the same work in all dispatched squads. Our skills reduce large companies, some local governments, small and mediu m-sized businesses and emerging companies. We lead the market directly by providing outsourcing and guided offer (MSP) in the market, and also owns recruiting process outsourcing (RPO) leading skills. In each of these fields, there is a great possibility to strengthen relationships with customers, and it is considered to be a company's revenue target.

Focusing strategy and achieved progress

Despite the difficult life since its founding, we are not satisfied with the 24th economic economic indicators. We are one of the most wonderful and most growing human resources in the world as one of the most popular market, and our intended strategy announced in the first half of FY2014 is the recovery. It is designed to create a better hazy condition to apply the countless skills of the appearance that we are delayed. It also strengthens our stability, quality of profits, and the production of foreign exchange agents.

We are actually waiting on normal market standards, and all the focus of the company can guarantee at least 25 % of conversion coefficients (at the central cost), and conversions in the group in the group. The coefficient is 22-25 %. The advantage of £ 250m, in return, in our program, and beyond the previous peak.

Our goal strategy is based on the 5 strategic lever:

In the future, strengthen the priority position in the more necessary messages categories;

Strengthen interest in more competent and highly paid position;

Strengthen interest in the continuous and growing industry and market;

Continue to build more sustainable business with clients and candidates.

Increase rewards that have nothing to do with the same work in all dispatched squads.

Our mediu m-term task is to greatly contribute to the interests of the most countries where Hayes develops businesses around the world. Paints (Germany, Australia, the UK) safely develop these five levers, but there are still issues to improve their performance and profitability. Most of the five levers are in the priority states (Austria, France, Italy, Japan, Poland, Spain, Switzerland), actively distributing resources to finish all five tasks, selectively. I am investing. Countries with the development of the economy have suggested the remaining share of our huge network, and we will improve our business characteristics in each country in cooperation with our ambitious indicators of conversion rates. And we are focusing on improving profitability.

Strict operations

An important point in performing our strategies is the strengthening of leadership in the required vacancy categories, and the strengthening of business seriousness aimed at testing a shallow business. We conducted detailed tests, investigated major states based on the business line, and analyzed the appearance of work without contracts, temporary, and changes. Improved sector and resources in the state, relocated consultants within 400 to a more stable business space, and blocked some business fields:

Italian dispatching business (resources to contract work)

Health and education in ANZ (sub scale)

Health and public works in the UK and Italy (report)

Temporary employees in the sales and marketing fields in Germany (low profitability)

Application for execution of projects in France (low profitability)

Germany, the main country, has been reorganizing management and continues to provide programs to improve the performance of the BAC office. In Germany, if the market environment has improved, a smaller design will accelerate the recovery of conversion rates. In ANZ, the performance has improved and the conversion coefficient has turned positive, so we have been participating in the 25th economic year without paying attention to the decrease in commissions by 20 % or more from the previous year. In England, we study all the company's goals in order to believe the operating model, especially our temporary commercial, and to achieve their mediu m-term intentions. < SPAN> Our mediu m-term task is to contribute to the interests of the most countries that Hayes develops around the world. Paints (Germany, Australia, the UK) safely develop these five levers, but there are still issues to improve their performance and profitability. Most of the five levers are in the priority states (Austria, France, Italy, Japan, Poland, Spain, Switzerland), actively distributing resources to finish all five tasks, selectively. I am investing. Countries with the development of the economy have suggested the remaining share of our huge network, and we will improve our business characteristics in each country in cooperation with our ambitious indicators of conversion rates. And we are focusing on improving profitability.

Strict operations

An important point in performing our strategies is the strengthening of leadership in the required vacancy categories, and the strengthening of business seriousness aimed at testing a shallow business. We conducted detailed tests, investigated major states based on the business line, and analyzed the appearance of work without contracts, temporary, and changes. Improved sector and resources in the state, relocated consultants within 400 to a more stable business space, and blocked some business fields:

Italian dispatching business (resources to contract work)

Health and education in ANZ (sub scale)

Health and public works in the UK and Italy (report)

Temporary employees in the sales and marketing fields in Germany (low profitability)

Application for execution of projects in France (low profitability)

Germany, the main country, has been reorganizing management and continues to provide programs to improve the performance of the BAC office. In Germany, if the market environment has improved, a smaller design will accelerate the recovery of conversion rates. In ANZ, the performance has improved and the conversion coefficient has turned positive, so we have been participating in the 25th economic year without paying attention to the decrease in commissions by 20 % or more from the previous year. In England, we study all the company's goals in order to believe the operating model, especially our temporary commercial, and to achieve their mediu m-term intentions. Our mediu m-term task is to greatly contribute to the interests of the most countries where Hayes develops businesses around the world. Paints (Germany, Australia, the UK) safely develop these five levers, but there are still issues to improve their performance and profitability. Most of the five levers are in the priority states (Austria, France, Italy, Japan, Poland, Spain, Switzerland), actively distributing resources to finish all five tasks, selectively. I am investing. Countries with the development of the economy have suggested the remaining share of our huge network, and we will improve our business characteristics in each country in cooperation with our ambitious indicators of conversion rates. And we are focusing on improving profitability.

Strict operations

An important point in performing our strategies is the strengthening of leadership in the required vacancy categories, and the strengthening of business seriousness aimed at testing a shallow business. We conducted detailed tests, investigated major states based on the business line, and analyzed the appearance of work without contracts, temporary, and changes. Improved sector and resources in the state, relocated consultants within 400 to a more stable business space, and blocked some business fields:

Italian dispatching business (resources to contract work)

Health and education in ANZ (sub scale)

Health and public works in the UK and Italy (report)

Temporary employees in the sales and marketing fields in Germany (low profitability)

Application for execution of projects in France (low profitability)

Germany, the main country, has been reorganizing management and continues to provide programs to improve the performance of the BAC office. In Germany, if the market environment has improved, a smaller design will accelerate the recovery of conversion rates. In ANZ, the performance has improved and the conversion coefficient has turned positive, so we have been participating in the 25th economic year without paying attention to the decrease in commissions by 20 % or more from the previous year. In England, we study all the company's goals in order to believe the operating model, especially our temporary commercial, and to achieve their mediu m-term intentions.

The focus states also confirmed the existence of suitable and scalable business models. In the US, improvements to the delivery model have significantly improved productivity and profitability. The US went from losses in FY23 and H1 FY24 to profitability in H2 FY24. Many other priority countries also saw volume and rate growth in the US, Italy (which also recorded record monthly sales in May 2024), Poland and Japan in the 24th economic year.

Similarly, emerging economies saw total productivity growth in H2 FY24 in Belgium, Netherlands, Mexico, Singapore and Canada, while Portugal and UAE posted record profit growth in H2 FY24. In China, a focus on productivity, operational discipline and cost control resulted in a return to profitability in H2 FY24 after a challenging period.

All states are focused on meeting the “golden rule” that operating profit growth must exceed compensation growth, which in turn must exceed employee headcount growth for a full cycle. This underlies our objective to raise consultant labour productivity to minimum inflation-matched levels and to increase operating leverage to enhance full-cycle profitability.

In FY25, there will be increased focus on improving performance in markets that were particularly challenging in the second half of FY24, such as Latin America, New Zealand, Scandinavia, Romania and the Czech Republic.

Reducing Group Expenses

As noted on page 1, our focus on improving consultant productivity and back-office cost management has resulted in significant cost savings of up to £60 million per annum in FY24, of which £30 million were structural. This has resulted in scarce restructuring charges of £42. 2 million, as described on page 8.

A number of programs are underway to improve back-office productivity. We expect this will enable the Group to achieve structural cost savings of around £30 million per annum over three years, particularly in our cash and technology teams. This will be achieved by eliminating duplicate costs, bringing in external organizations, standardizing and globalizing processes, and expanding Shared Service Centers (SSCs).

Improve technology and expand digital capabilities

We continue to improve technology packages and abilities, and enhance our current and future needs. This includes outsourcing background infrastructure by the world's leading IT service provider. We hope that this will improve your ability and that the technology of the Group will be more adapted to the group's work. In terms of front office systems, we are continuing to use information assets efficiently, and as a strategy, in addition to collaboration with the best leading vendors in the same class, the best of artificial intelligence and automation. We are making larg e-scale and dynamic initiatives to introduce technology into our processes around the world.

In the 24th fiscal year, the Board of Directors concluded that some intangible assets were used in group businesses or that their balance sheet had been deprecated. As a result, an impairment of £ 22 million.