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08.05.2018 13:30
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PR Newswire
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JLL Reports Strong First-Quarter 2018 Results
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PR Newswire
CHICAGO, May 8, 2018
CHICAGO, May 8, 2018 /PRNewswire/ -- Jones Lang LaSalle Incorporated (NYSE: JLL) today reported excellent operating performance for the first quarter of 2018 with diluted earnings per share of $0.88 and adjusted diluted earnings per share1 of $0.97.
- Diversified organic revenue growth globally, highlighted by Capital Markets and annuity businesses
- Margin expansion in Americas, EMEA and LaSalle
- Americas revenue growth coupled with productivity gains
- EMEA improvement largely driven by UK, Germany and France
- Corporate Solutions momentum from recent business wins
- LaSalle delivered robust incentive fees while generating outstanding value for clients
- Continued progress on digital agenda
- Strong cash flows contributed to a year-on-year net debt reduction of more than $470 million
- Dividend increase of 11 percent to $0.41 per share
CEO Comment:
"Broad organic revenue growth and margin expansion drove our strong first-quarter performance," said Christian Ulbrich, JLL CEO. "We achieved these results while continuing to invest in -- and make significant progress on -- our global digital agenda. With healthy economic and real estate fundamentals in most markets globally, and despite geopolitical challenges, we anticipate continued growth this year."
| Summary Financial Results | | Three Months Ended | |||||
| March 31, | |||||||
| ($ in millions, except per share data) | | 2018 | 2017 | ||||
| | | | | ||||
| Revenue | | $ | 3,555.2 | | $ | 3,117.7 | |
| Revenue before reimbursements | | 1,891.1 | | 1,616.3 | | ||
| Fee revenue1 | | 1,281.5 | | 1,124.0 | | ||
| | | | | ||||
| Net income attributable to common shareholders | | $ | 40.3 | | $ | 7.2 | |
| Adjusted net income attributable to common shareholders1 | | 44.3 | | 17.0 | | ||
| | | | | ||||
| Diluted earnings per share | | $ | 0.88 | | $ | 0.16 | |
| Adjusted diluted earnings per share1 | | 0.97 | | 0.37 | | ||
| | | | | ||||
| Adjusted EBITDA1 | | $ | 107.7 | | $ | 68.0 | |
| Adjusted EBITDA, Real Estate Services | | 65.3 | | 48.4 | | ||
| Adjusted EBITDA, LaSalle | | 42.4 | | 19.6 | | ||
| (1) For discussion of non-GAAP financial measures, see Note 1 following the Financial Statements in this news release. | |||||||
| Note: The company adopted ASC 606 and refined its non-GAAP definition "Fee revenue" in the first quarter of 2018. Comparative periods have been recast accordingly. In addition to the footnotes following the Financial Statements, refer to our recent podcast (available on ir.jll.com) for additional information. | |||||||
| Consolidated
($ in millions, "LC" = local currency) | Three Months Ended | | % | | % | ||||||||
| 2018 | | 2017 | | | |||||||||
| Leasing | $ | 401.2 | | | $ | 378.4 | | | 6 | % | | 4 | % |
| Capital Markets | 232.7 | | | 188.7 | | | 23 | | | 17 | | ||
| Property & Facility Management | 2,053.6 | | | 1,807.0 | | | 14 | | | 11 | | ||
| Project & Development Services | 579.2 | | | 509.9 | | | 14 | | | 7 | | ||
| Advisory, Consulting and Other | 169.2 | | | 145.4 | | | 16 | | | 11 | | ||
| Real Estate Services ("RES") revenue | $ | 3,435.9 | | | $ | 3,029.4 | | | 13 | % | | 10 | % |
| LaSalle Werbung Mehr Nachrichten zur Jones Lang Lasalle Inc Aktie kostenlos abonnieren
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