analyst meeting 2004 vedior france

Vedior France: 

Presented by Philippe Salle, Member of the Board of Management Vedior France

Market Features - 2003: 

Tertiary Market Features - 2003 Industry Logistics & transportation Office admin. & call center Market size €bn (2003) Penetration % 1.2 3.0 1.5 % 8.5 6.4 % 17.7 Construction 3.2 7.6 % Source : SETT; Vedior France estimate Professional/executive 1.8

Vedior France Strategy: 

Vedior France Strategy Branding Culture Specialization Goal : to be the most profitable recruitment company among its peers

Branding: 

Temporary recruitment Branding > 99 % < 1 % HR services Recruiting BPO Training Safety at work Medical Specialist (except medical) Traditional Regional

Branding - VediorBis: 

Branding - VediorBis N° 3  670 branches Company has been segmented in 6 BU: Construction Industry Industry pros Results (2 year CAGR): Construction: +7% Industry pros: +14% Tertiary: +6% Large sites (client driven) Logistics & transports Tertiary

Branding - expectra: 

Branding - expectra Number 1 - high qualification staffing*  10 % market share 68 branches Specialized in 3 sectors : IT Engineering Accounting & Finance Result: 5 year CAGR : 14 % (IT recession in 2001/2002/2003) * Baccalaureate +2 - Baccalaureate +5

Branding - Medical: 

Branding - Medical Number 1  50 % market share 69 branches Specialized in 2 sectors : Medical Pharmaceutical Result: 5 year CAGR : 37 %

Culture – Vedior France: 

Culture – Vedior France Manage headquarters to stay lean 10% cost reduction achieved since 2003 with ongoing improvements EBIT driven Empower each COO / BU manager Implement share plans - feels like own company Reinforce commercial /client culture

Organization Vedior France: 

Organization Vedior France One COO per brand Each COO manages: Network (branches, salesforce) Marketing Methods & Quality Large account Centralized support functions: Accounting/finance Legal IT Purchasing / real estate HR (payrolling, compensation &benefits)

Organization VediorBis: 

Organization VediorBis One COO and 6 BU managers Each BU manages: Network (branches, salesforce) Recruiting strategy Large account Controlling HR (administration, recruiting permanent staff) Centralized support functions (within COO): Marketing Methods & Quality

Growth Drivers: 

Growth Drivers Launch new segments (pharmaceutical) Develop public sector Launch new segments Launch new services (permanent placement)

Growth Drivers: 

Growth Drivers Expand network (regionally) Launch new segments Expand Construction, Industry pros and Tertiary Low cost strategy on large sites and logistics

Upcoming Legislative Changes: 

Upcoming Legislative Changes Law of “Modernisation sociale”: permanent placement will be opened as of January 2005 35 hour law is an “acquis social” Two possible minor amendments: Decrease of premium on overtime hours Modification of “Compte Epargne Temps” (vacation rules)

Outlook for the French market: 

Outlook for the French market Supply market has started in construction Market is already growing Supply market will start in 2006 for all other qualifications Out of the top 10 missing skills are industry operators Banking/Insurance markets most affected Tertiary and professional/executive markets could double in next 5 years

Any Questions?: 

Any Questions?

GeneralQ&A Session: 

General Q&A Session Questions to the Board of Management from the audience on any topic plus emailed questions from participants viewing the Meeting by webcast. Please wait for the microphone before asking your question