Jones Lang Lasalle Incorporated · NYSE:JLL
Jones Lang Lasalle — Investor Presentation (March 2014)
28 slides from Jones Lang Lasalle's investor presentation, Mar 18, 2014
Slide 1: Investor Presentation March 2014
Exhibit 99.1 Exhibit 99.1 Investor Presentation 53,000 employees, 200 offices, 75 countries, 1 global platform March 2014
Slide 2: Who we are
Who weshare integrated Productivity Market are firm JLL focus expansion Advisor is Broad a leading and Margin research service provider focused capabilities provider of Premium real Local, estate Strategic brand services regional data Diverse and and & IT investment global Revenue investments market
Slide 3: How we got here: history and mergers
HowUK LaSalle Largest the weand merger merge gotEMEA here—premier Partners in JLL 13%history tocompound create brand transforms and and annual Jones global U.S. revenue Jones platform local Lang growth markets 1760 Langrate 1783 position Wootton since 1968King 1999 LaSalle 1997Sturge merger 1999 Int
Slide 4: Fee revenue growth and long-term success
Fee Revenue $942 $5,482 $389 $4,027 ~8x ~7x ~4x 2003 Long 10-year 50+ Post-Great Investment-grade Experienced Six-member 300+ Note: 4 mergers $59 2013 International history Allcompound amounts $685 2003 Recession Global executive and Adjusted of profitable 2013 acquisitions financial in Directors an
Slide 5: Investment thesis
Investment Management Opportunities Profitabilitythesis &Infrastructure Cash Growth FlowGlobal Focused forleverage Growth Brand Long-term Occupancy Capitalize Superior revenue client on IT Opportunities investments relationships growth Market Investment-Grade Growth Collaborative, shareProtect gains
Slide 6: Our G1-G5 strategy
OurG2 strategically Pursue business G1 global G5 business Capture CONNECTIONS: strategy as industry and thefor operational leading continued consolidates share Differentiate strategies success ofIncrease global JLL to and capital sustain productivity Actions Sustain flows long-term Balance G3for and
Slide 7: Full-year 2014 market forecast
Full-Year (U.S. Actualonly) FYLeasing 2014 7% 5-10% v. & FYCapital 2013: EMEAForecast Markets (Europemarket Capital only) -4% volumes Markets 5-10% 2014 Americas Asia Improved Pacific 18% (select ~Leasing 20% markets) EMEA Volume 21% -12% Anticipated ~ 10% 5-10% Asia Gross Total Pacific 1% Absorptio
Slide 8: G1 - Scale
G1—Scale Consolidated model Americas $227 revenue $760 expanding = Consolidated $260 $638 and = leadership 15% million $373 intoand new $500 CAGR 8Americas in markets $241 local 15% 2007 markets =iDesk: $1,330Americas 25% 2008 including Leverage Competitive * 2009 2010 Property JLL’s $1,278$1,188 Ad
Slide 9: G2 - Global corporate solutions
G2—Global market Transaction Energy trends & sustainability management outsourcing & market Facility Scalable propels Single management point Corporate execution of accountability global Solutions 2013position JLLCompetitive Project Client leveraging Wins & development Advantages Large our local Cor
Slide 10: G3 - Capturing market share in EMEA and Asia Pacific
G3 –$61 EMEA Markets $84 Capturing opportunity $38 Revenue * 2007 market ($Increased 2008 in millions) share 2009in Asia 2010 growing Asia Pacific 2011 Pacific global transparency ** EMEA 2012 capital 2013 Americas flows driving **MayCompetitive $708 increasing 2011: $557 KingAdvantages $158 Interna
Slide 11: G4 - Performance: LaSalle Investment Management
G4 - Performance Competitive Proven Diversified Consistent Financial Successful Building Global Healthy Crisis Fees $278 $242 2006 $0 $100 $178 $223 $228 $200 $245 Assets Separate $23.5 Note: 11 $300 to $245 $238 2007 AUM $Advisory Under Financial performance 13.7 2013 Markets Accounts Advisory back
Slide 12: G5 - Differentiated business lines and diversification
G5—Differentiated Project 5% France & Development 14% 3% & Other sustainable 9%Asia Services United business 18% Kingdom 33% lines;Capital 6% delivering 3%Markets 2%integrated Australia Leasing6% services Global 3% Singapore globally Diversification1 2013 Greater FeeAmericas Japan Revenue India (45%
Slide 13: Consolidated fee revenue
Consolidated Fee Revenue $4.0B $3.6B 2012 Gross •FY 2013 Asia 21% Americas EMEA LaSalle 28% Notes: (2) 13 Adjusted Full-year Growth Successful Percentage 2013 Adjusted 6% 45% Pacific Revenue revenue revenue: $285M $245M (1)Performance Net led 2013 EBITDA operating fee capital by Income Adjusted earn
Slide 14: Strong balance sheet
Strong facility (bonds) continuing $ Debt Activities¹ 153$$balance 437 in 152 Continued October; 5% to $$538 invest 184 Dividends sheet $Short healthy increased 643 inposition the 3-Year Term 27% business netsize 2013 Borrowings debt CapEx Cash toHighlights Acceptable reduction $1.2 Deployment (prim
Slide 15: Full year 2013 segment results
Full Year Hospitality 18% $114.2 $4,206.9 Project $1,199.5 7% &16% 2013 Development $203.7 $217.3 22% Note: Real8% 29% Property Estate Segment $96.0 Services $333.3 Services & 15% and Development 41% and $413.9 Consolidated Revenue $157.8 Total9% RES 53% Services Total ($ Real in Operating $708.4 mi
Slide 16: Americas results
Americas $167M fee United revenue States 10.2% Real basis 89% $209M Estate Operating 2%Services 12.7% 2% Brazil income FY 2013 2013 5%margin Fee 2% Performance Revenue Canada calculated Mexico Operating Full-year on aOther fee Income fee revenue Americas revenue Operating 2012; Note: up 10% Q4Income
Slide 17: EMEA results
EMEA $59M Adjusted Netherlands and 2012, 6.2% Real operating respectively. $76M 41% Estate3% 8.0% Services income Belgium Margin FYmargin 2013 U.K. is calculated Performance Fee calculated 2% Adj. 2%Operating Italy ononFull-year a with fee 11%revenue Income aMENA 6.2% fee revenue basis. fee Adj. Oth
Slide 18: Asia Pacific results
Asia Pacific $65M performance Contribution basis. See 8.4%Appendix $78M Real Markets Greater Estate 10.0% for China & calculation Hotels Services FY(inc. 2013 above Hong 2013 Performance of demonstrated fee Fee Kong) revenue. Operating 30% Full-year 18 12% market Income India fee volumes revenue Ope
Slide 19: LaSalle Investment Management results
LaSalleFY 25.9% longer-term billions)Investment U.K. 2013 growth $15.1 Performance Management potential Public Continental from Winning 2013 capital new Fee $4.8 deployment Operating mandates Europe Securities and Income Strong clients equity Operating $10.4 while earnings $4.8 selling Income $12.5
Slide 20: Appendix
Appendix
Slide 21: JLL Property Clocks
JLL Property Frankfurt Mumbai, Kong Seoul Washington London Istanbul, Rental ClocksSM Capital value DC Dubai value Boston, Rental Leasing Beijing Capital values Los Values Singapore Angeles, values Dallas as growth ofgrowth Hong Berlin, Q4 2013 Kong bottoming slowing Stockholm Asia Shanghai EMEA fal
Slide 22: Consolidating acquisitions
Consolidating Company in 50% on the PVupfront: UK basis King business Financial 100% industry Sturge with upfront Profit Meghraj leads leading Structure growth to JLL Trinity localopportunity to64% credibility shareholders Funds deferred Management Strategic in Australia over Neutral 5Align 50% Stra
Slide 23: Q4 2013 segment results
Q4 2013 $78.6 Property 14% Segment Services $29.0 32%and & Real and $129.1 15% Development Total Consolidated Estate $142.8 33% RES Services $59.0 15% Operating Services Real Total Revenue 59% Estate Revenue –RES $266.7 FeeServices ($ Operating $59.3 in38% excludes millions; 16% Projet (“RES”) Fee $
Slide 24: Full year 2013 segment results
Full$203.7 $217.3 $199.5 7% 15% Development Year Note: 29% 18% 2013 Segment 8% $333.3 Project Services $96.0 Real 42% & Estate and 11% Development and Consolidated $157.8 $413.9 Services Total 44% RES 8%Revenue Services $708.4 Total Operating Real RES Estate 38% ($ – Fee in Revenue Operating Service
Slide 25: Fee revenue reconciliation
Fee revenue diluted millions) 13.3% 112.1 Management $4,026.8 revenue amortization 77.0 13.2% asand $3,640.2 2013 gross-accounting Property /related fee 32.4 expense 8.7% 2012 revenue 19.4 Consolidated 8.6% & to 2013 reconciliation Facility the 93.1 exclude Gross 2012 King requirements 78.5 Manageme
Slide 26: Adjusted net income and EPS reconciliation
Reconciliation 2013 4.63 Adjusted GAAP 2012net GAAP Net income ofincome GAAP Net$ income 150.2 attributable net income $ attributable 117.1toto $ common 284.8 adjusted to common $ 245.4 net $ 147.2 income Shares $ 147.2 $ 106.8 and (in$ calculations 000s) 106.8 $ 269.5 45,146 $ 269.5 $ 207.6 of44,95
Slide 27: Adjusted EBITDA and operating income reconciliation
Reconciliation 2013 200.0 and amortization 2012 164.52013 389.3 of2012 20.9 GAAP 339.7 20.1 Operating GAAP operating 79.8 Net 78.8 Income income income EBITDA $ 195.8 to$adjusted 147.5 $ 226.9 $ 150.9 $ 107.3 operating $ 172.4 $ 368.8 $ 273.4 $ income 480.0 $ 289.4 $ 208.8 $ and 392.1 Restructuring
Slide 28: Forward-looking statements
Forward-looking considered which could “Quantitative December dividends, JLL events. including 28 expressly cause may © without Jones 31, and forward-looking cause actual and disclaims 2013 the Lang statements actual Qualitative limitation establishment results and LaSalle results, in any toother st
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