Willis Towers Watson Public Limited Company · NASDAQ:WTW
Willis Towers Watson Public — Willis Towers Watson — Q4 2021 Earnings Presentation
18 slides from Willis Towers Watson Public's earnings presentation, Feb 8, 2022
Slide 1: WTW Earnings Release Supplemental Materials
wtwco.com WTW Earnings Release Supplemental Materials February 8, 2022 2021 Fourth Quarter and Full Year Financial Results © 2022 WTW. All rights reserved.
Slide 2: Forward Looking Statements
wtwco.com WTW Forward Looking Statements 2 © 2022 WTW. All rights reserved. This document contains “forward - looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements and other forward - looking statements in this document by w
Slide 3: Non-GAAP Measures
wtwco.com WTW Non - GAAP Measures 3 © 2022 WTW. All rights reserved. In order to assist readers of our consolidated financial statements in understanding the core operating results that WTW’s ma nag ement uses to evaluate the business and for financial planning, we present the following non - GAAP m
Slide 4: Q4 2021 GAAP Financial Results
wtwco.com Q4 2021 GAAP Financial Results Key figures as reported are from continuing operations unless otherwise stated 4 © 2022 WTW. All rights reserved. $USD million, except EPS and % Three months ended December 31, Years ended December 31, 2020 2021 change % 2020 2021 change % Revenue $2,669 $2,7
Slide 5: 2021 Non-GAAP Metrics From Continuing Operations and Key Metrics
wtwco.com 2021 Non - GAAP Metrics From Continuing Operations 1 and Key Metrics WTW reports full year and fourth quarter 2021 earnings 5 © 2022 WTW. All rights reserved. $ 9 .0 B FY2021 Full Year Revenue Total Revenue Broad - Based Organic Growth Constant currency growth of 2% and organic revenue gro
Slide 6: Organic Growth Across All Segments
wtwco.com Organic Growth Across All Segments From Continuing Operations Our unwavering commitment to our clients and colleagues is key to our growth 6 © 2022 WTW. All rights reserved. Organic Revenue Growth % HCB organic revenue growth was led by Technology and Administrative due to new project and
Slide 7: Summary of Segment Financial Results
wtwco.com Summary of Segment Financial Results Q4 2021 and full year 2021 segment results compared to full year 2020 on a continuing operations basis 7 © 2022 WTW. All rights reserved. As reported, $USD million, except % Q4 2021 FY2021 Revenue Operating Margin % 2 Revenue Operating Margin % 2 Margin
Slide 8: Maintaining a Flexible Balance Sheet
wtwco.com Maintaining a Flexible Balance Sheet Reinforcing our business fundamentals; safeguarding WTW’s financial strength 8 © 2022 WTW. All rights reserved. A disciplined capital management strategy intended to provide WTW with the financial flexibility to reinvest in our businesses, capitalize on
Slide 9: A Capital Strategy Fit For The Short & Long-Term
wtwco.com A Capital Strategy Fit For The Short & Long - Term 9 © 2022 WTW. All rights reserved. Disciplined approach to capital management A capital light business model and capital structure to allow flexibility to deploy capital with the goal of creating the most value based on changes in the busi
Slide 10: Driving Continuous Sustainable Adjusted Operating Margin Improvement
wtwco.com Driving Continuous Sustainable Adjusted Operating Margin Improvement 10 © 2022 WTW. All rights reserved. FY 2021 Continuing operations adjusted operating margin Adjusted Operating Margin %, Continuing Operations $USD millions except % Three months ended, Three months ended, Mar 31, 2020 Ju
Slide 11: Building Upon a Solid Foundation for 2022
wtwco.com Building Upon a Solid Foundation for 2022 1 © 2022 WTW. All rights reserved. 11 Expect to deliver adjusted operating margin expansion for full year 2022 FY2022 Adjusted Margin Improvement Expect approximately $0.15 - $0.20 headwind on Adj. EPS at today’s rates FY2022 Foreign Currency Impac
Slide 12: Appendix: Reconciliation of Non-GAAP Measures & Restatement for Continuing Operations
wtwco.com Appendix: Reconciliation of Non - GAAP Measures & Restatement for Continuing Operations © 2022 WTW. All rights reserved.
Slide 13: Appendix 1: Constant currency and organic revenue change
wtwco.com Appendix 1: Constant currency and organic revenue change As reported, USD millions, except % 13 © 2022 WTW. All rights reserved. Components of Revenue Change ( i ) Three Months Ended December 31, As Reported Currency Constant Currency Acquisitions/ Organic 2021 2020 % Change Impact Change
Slide 14: Appendix 2: Adjusted operating income and margin, adjusted EBITDA, free cash flow
wtwco.com Appendix 2: Adjusted operating income and margin, adjusted EBITDA and margin, free cash flow As reported, USD millions, except % 14 © 2022 WTW. All rights reserved. Years Ended December 31, 2021 2020 Cash flows from operating activities $ 2,061 $ 1,774 Less: Additions to fixed assets and s
Slide 15: Appendix 3: Adjusted net income and adjusted diluted EPS
wtwco.com Appendix 3: Adjusted net income and adjusted diluted earnings per share As reported, USD millions, except % and EPS 15 © 2022 WTW. All rights reserved. Three Months Ended December 31, 2021 2020 Net Income attributable to WTW $ 2,402 $ 476 Adjusted for certain items: Income from discontinue
Slide 16: Appendix 4: Adjusted income before taxes and adjusted income tax rate
wtwco.com Appendix 4: Adjusted income before taxes and adjusted income tax rate As reported, USD millions, except % 16 © 2022 WTW. All rights reserved. Years Ended December 31, 2021 2020 Income from continuing operations before income taxes $ 2,692 $ 1,011 Adjusted for certain items: Abandonment of
Slide 17: Appendix 5: Restated Income Statement For Continuing Operations
wtwco.com Appendix 5: Restated Income Statement For Continuing Operations 17 © 2022 WTW. All rights reserved. Three months ended, Three months ended, $USD millions Mar 31, 2020 June 30, 2020 Sep 30, 2020 Dec 31, 2020 Full Year 2020 Mar 31, 2021 June 30, 2021 Sep 30, 2021 Dec 31, 2021 Full Year 2021
Slide 18: About WTW
wtwco.com 18 © 2022 WTW. All rights reserved. About WTW WTW (NASDAQ: WTW) is a leading global advisory, broking and solutions company that provides data - driven, insight - led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our more than 44,000