Attached files
| file | filename |
|---|---|
| 8-K - 8-K - JONES LANG LASALLE INC | jllform8k_aug2014.htm |
| EX-99.2 - PERFORMANCE GUIDEPOSTS - JONES LANG LASALLE INC | jllguideposts_aug2014.htm |
JLL is a leading provider of real estate services and investment management, creating value for corporations and investors across the globe. • 200 corporate offices; 75 countries • Approximately 53,000 employees • Experienced executive leadership – Six-member Global Executive Board; combined 90-year tenure – 300+ International Directors • 10-year fee revenue CAGR = 16% – Organic = 12% and M&A = 4% • 50+ mergers and acquisitions since 2003 • Investment grade balance sheet; Moody’s Baa2 (Stable) / S&P BBB- (Positive) Trading Information Listing …………………………NYSE Ticker ………………………….....JLL Market Cap …………..….$5.6 billion About JLL Service Offers & Global Diversification: Fee Revenue $4 Billion FY 2013 Consolidated Performance Long History of Profitable Growth • Full-year fee revenue up 12% • Growth led by Capital Markets & Hotels, up 40%, and Property & Facility Management, up 14% on a fee revenue basis • Adjusted EBITDA margin calculated on a fee revenue basis of 12.4%, up from 12.0% • Adjusted operating income margin calculated on a fee revenue basis of 9.7%, up from 9.3% • Successful capital raise by LaSalle Investment Management; $7 billion committed in 2013 Note: All amounts in $ millions. 2003 market cap based on peak share price in the year; current market cap based on July 2014 share price Asia Pacific EMEA Americas LaSalle 21% 6% 45% 28% Property & Facility Mgmt. LaSalle Inv. Mgmt. Project & Development Services LeasingCapital Markets Advisory & Other 33% 6% 9% 10% 24% 18% Market CapAdjusted Operating IncomeFee Revenue ~4x ~7x ~8x 2003 $942 $59 $685 $4,027 $389 $5,638 2003 20032013 2013 Current Investor Update Full Year 2013 Contact Us JLL Global Headquarters | 200 E Randolph Drive Chicago IL 60601 | www.jll.com | +1 312 782 5800 JLL Investor Relations JLLInvestorRelations@am.jll.com August 2014 1
FY 2013 FY 2012 FY 2011 Fee Revenue $ 4,027 $ 3,640 $ 3,374 Adjusted Operating Income $ 389 $ 340 $ 319 Adjusted EPS $ 6.32 $ 5.48 $ 4.83 Adjusted EBITDA $ 498 $ 437 $ 395 Adjusted EBITDA Margin 12.4% 12.0% 11.7% Net Debt $ 437 $ 538 $ 643 FY 2013 FY 2012 FY 2011 Cash $ 153 $ 152 $ 184 Short Term Borrowings $ 25 $ 32 $ 65 Credit Facility $ 155 $ 169 $ 463 Net Bank Debt $ 27 $ 49 $ 344 LT Senior Notes 275 275 Deferred Acquisition Obligations 135 214 299 Total Net Debt $ 437 $ 538 $ 643 Key Characteristics Strong Cash Generator Balance Sheet • Growth-oriented, globally integrated real estate firm – Occupier advisory and facility management services for tenants and corporates – Leasing, management, financing and sales for property owners – Real estate investment management for private and public equity investors • Operational excellence – Productivity focus – Broad research capabilities – Strategic data & IT investments • Premium global brand • Financial strength – Investment grade balance sheet; Moody’s Baa2 (Stable) / S&P BBB- (Positive) ◦ $1.2B credit facility maturing in 2018 ◦ $275M, 4.4% coupon LT Senior Notes maturing 2022 ◦ Strong cash generator ◦ Disciplined acquirer – Long-term value creation ◦ Market share expansion ◦ Margin focused • Collaborative culture with highest ethical standards 3-Year Cash Deployment = $1 billion 1 Other Financing Activities include debt issue costs and share activity related to taxes on stock awards Acquisitions Dividends Co-InvestmentCapEx (primarily IT) Other Financing Activities1 5% 8% 27% 5% 55% (33% upfront; 22% deferred) (Cash from Operations = $832m plus Net Debt increase =$164m) $ millions Key Financial Metrics ($ millions except per share and margin data) August 2014 2