Jones Lang LaSalle Incorporated · NYSE:JLL
Jones Lang LaSalle — Q4 2010 Earnings Presentation
18 slides from Jones Lang LaSalle's earnings presentation, 2011
Slide 1: Supplemental Information: Fourth Quarter 2010 Earnings Call
Supplemental Information Fourth Quarter 2010 Earnings Call
Slide 2: Market & Financial Overview
Market & Financial Overview @ Jones LANG LASALLE’
Slide 3: Capital Values
Capital Values Q4 2009 Q4 2010 Shanghai Beijing Capital Value Capital Value Hong Kong, Capital Value Capital Value growth slowing falling London, growth slowing falling Sao Paulo Capital Value Capital Value Washington DC Capital Value Capital Value growth bottoming out Detroit New York growth bottom
Slide 4: Leasing Market Fundamentals
Leasing Market Fundamentals Q4 2009 Q4 2010 Detroit Toronto Chicago New York Rental Value Rental Values Dallas, Milan, Rental Value Rental Values growth slowing falling San Francisco growth slowing falling Amsterdam, Brussels, Sao Paulo Detroit Seoul Rental Value Rental Values Rental Value Rental Va
Slide 5: 2010 Accomplishments and Trends
2010 Accomplishments and Trends – Full-year revenue of more than $2.9 billion Consolidated – Adjusted operating income margin of 9.1%, adjusted EBITDA margin of 11.5% – Leasing revenue increased 28% – Both US and Regional multi- national corporate wins – Strong Capital Markets & Hotels revenue growt
Slide 6: Q4 Selected Business Wins and Expansions
Q4 Selected Business Wins and Expansions – AT&T Mobility – 2,300 sites – Navistar, Chicago – $33M / 1.2M sf – Beaumont Hospitals, Detroit – 8.5M sf – The Northern Trust Company, Chicago – 207K sf – SAIC – 10M sf – Healthfirst, New York – 172M sf – 353 N. Clark, Chicago – $400M Americas – 300 S. Rive
Slide 7: Financial Information
Financial Information @ Jones LANG LASALLE’
Slide 8: FY 2010 Revenue Performance
FY 2010 Revenue Performance ($ in millions; % change in local currency ) Americas EMEA Asia Pacific LIM 22% 17% 17% 16% $1,261.5 $1,031.6 $728.8 $643.7 $678.5 $538.9 $207.6 $245.4 2009 2010 2009 2010 2009 2010 2009 2010 17% $2,925.6 Consolidated $2,480.7 2009 2010 Note: Equity losses of $58.9M and $
Slide 9: FY 2010 Real Estate Services Revenue
FY 2010 Real Estate Services Revenue ($ in millions; % change in local currency over FY 2009) Americas EMEA Asia Pacific Total RES Revenue Leasing $637.9 28% $202.6 22% $159.4 34% $999.9 27% Capital Markets & $84.1 120% $141.2 37% $80.4 25% $305.7 51% Hotels Property & Facility $269.4 19% $142.9 8%
Slide 10: Q4 2010 Revenue Performance
Q4 2010 Revenue Performance ($ in millions; % change in local currency ) Americas EMEA Asia Pacific LIM 24% 11% 18% 4% $428.5 $344.7 $225.9 $237.4 $223.2 $178.3 $63.5 $66.8 2009 2010 2009 2010 2009 2010 2009 2010 18% $956.3 Consolidated $815.1 2009 2010 Note: Equity losses of $2.6M and $0.4M in 2009
Slide 11: Q4 2010 Real Estate Services Revenue
Q4 2010 Real Estate Services Revenue ($ in millions; % change in local currency over Q4 2009) Americas EMEA Asia Pacific Total RES Revenue Leasing $228.3 30% $69.3 4% $62.4 36% $360.0 25% Capital Markets & $35.1 156% $52.0 41% $28.5 7% $115.6 50% Hotels Property & Facility $86.1 8% $40.7 3% $89.4 13
Slide 12: LaSalle Investment Management
LaSalle Investment Management A premier global investment manager 2010 Highlights • $5 billion of net new capital raised, 2nd best year in LaSalle history • More than $3 billion invested worldwide in 2010 • Healthy margins generated from Advisory Fees Assets Under Average Product Management ($ in bi
Slide 13: Solid Cash Flows and Balance Sheet Position
Solid Cash Flows and Balance Sheet Position ($ in millions) Cash Flows FY 2010 FY 2009 2010 Highlights Cash from Earnings $316 $244 Working Capital 68 7 • Strong cash from earnings growth Cash from Operations $384 $251 • Net debt repayment of $250 million Primary Uses Capital Expenses (1) (48) (44)
Slide 14: Appendix
Appendix (j Jones LANG LASALLE’
Slide 15: FY 2010 Adjusted EBITDA Performance
FY 2010 Adjusted EBITDA* Performance Americas EMEA Asia Pacific $183.9 $133.8 $62.4 $47.4 $53.0 $14.1 $38.3 $44.3 2009 2010 2009 2010 2009 2010 2009 2010 15
Slide 16: Q4 2010 Adjusted EBITDA Performance
Q4 2010 Adjusted EBITDA* Performance Americas EMEA Asia Pacific LIM $78.7 $52.2 $28.9 $28.7 $25.6 $23.5 $7.9 $10.4 2009 2010 2009 2010 2009 2010 2009 2010 16
Slide 17: Reconciliation of GAAP Net Income (Loss) to Adjusted Net Income
Reconciliation of GAAP Net Income (Loss) to Adjusted Net Income ($ in millions) Three Months Ended Twelve Months Ended December 31, December 31, 2010 2009 2010 2009 GAAP net income (loss) $ 84.4 $ 52.0 $ 153.5 $ (4.1) Shares (in 000's) 44,235 43,671 44,084 38,543 GAAP earnings (loss) per share $ 1.9
Slide 18: Reconciliation of GAAP Net Income (Loss) to EBITDA and Adjusted EBITDA
Reconciliation of GAAP Net Income (Loss) to EBITDA and Adjusted EBITDA ($ in millions) Three Months Ended Twelve Months Ended December 31, December 31, 2010 2009 2010 2009 Net income (loss) $ 84.4 $ 52.0 $ 153.5 $ (4.1) Interest expense, net of interest income 10.1 11.5 45.8 55.0 Provision (benefit)