Willis Towers Watson Public Limited Company · NASDAQ:WTW
Willis Towers Watson Public — Willis Towers Watson — Q4 2019 Earnings Presentation
15 slides from Willis Towers Watson Public's earnings presentation, Feb 6, 2020
Slide 1: 2019 Fourth Quarter And Full Year Financial Results Supplemental Materials
willistowerswatson.com Willis Towers Watson 2019 Fourth Quarter And Full Year Financial Results Supplemental Materials February 6, 2020 © 2020 Willis Towers Watson. All rights reserved.
Slide 2: Forward Looking Statements
willistowerswatson.com Willis Towers Watson Forward Looking Statements © 2020 Willis Towers Watson. 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 forwa
Slide 3: Non-GAAP Measures
willistowerswatson.com Willis Towers Watson Non - GAAP Measures © 2020 Willis Towers Watson. All rights reserved. In order to assist readers of our consolidated financial statements in understanding the core operating results that Willis T owe rs Watson’s management uses to evaluate the business and
Slide 4: Q4 2019 & Full Year 2019 GAAP Financial Results Key Figures
willistowerswatson.com Q4 2019 & Full Year 2019 GAAP Financial Results Key Figures © 2020 Willis Towers Watson. All rights reserved. USD million, except EPS, %, and bps Three months ended December 31, Years ended December 31, 2018 2019 2018 2019 Revenue as reported % change $2,372 $2,690 +13% $8,513
Slide 5: Q4 2019 & Full Year 2019 Financial Results, including Non-GAAP Measures
willistowerswatson.com Q4 2019 & Full Year 2019 Financial Results, including Non - GAAP Measures Willis Towers Watson reports strong full year and fourth quarter 2019 earnings © 2020 Willis Towers Watson. All rights reserved. $ 9.0 B FY2019 Full Year Revenue Total Revenue + 5 % FY2019 Organic % Stro
Slide 6: Strong Organic Growth Momentum Across All Segments
willistowerswatson.com Organic Revenue Growth %* Strong Organic Growth Momentum Across All Segments Our commitment to a client winning experience is foundational to our growth momentum © 2020 Willis Towers Watson. All rights reserved. 5 Q4 2018 Q4 2019 FY2018 FY2019 Human Capital & Benefits 4% 4% 3%
Slide 7: Summary of Segment Financial Results
willistowerswatson.com Summary of Segment Financial Results Q4 2019 and Full Year 2019 segment results © 2020 Willis Towers Watson. All rights reserved. As reported, USD million, except % and bps Q4 2019 1,2 FY2019 1,2 Revenue Operating Margin % Revenue Operating Margin % Margin Year - over - year H
Slide 8: Maintaining a Strong and Flexible Balance Sheet Position
willistowerswatson.com Maintaining a Strong and Flexible Balance Sheet Position Significant financial flexibility to support long - term shareholder value 7 © 2020 Willis Towers Watson. All rights reserved. USD million, except ratio Dec 31, 2018 Sep 30, 2019 Dec 31, 2019 Cash and Cash Equivalents $1
Slide 9: A Capital Strategy Fit For Creating Long-Term Shareholder Value
willistowerswatson.com A Capital Strategy Fit For Creating Long - Term Shareholder Value 8 © 2020 Willis Towers Watson. All rights reserved. CASH RETURNED TO SHAREHOLDERS $ 3.0 B FY2016 to FY2019 $ 602 $ 396 $ 277 $ 199 $ 709 2016 2017 $ 306 $ 986 2018 $ 150 $ 329 2019 $ 595 $ 908 $ 479 MEANINGFUL D
Slide 10: A Solid Foundation for 2020
willistowerswatson.com © 2020 Willis Towers Watson. All rights reserved. a round 20.5 % adj. operating margin FY2020 Adjusted Operating Margin $ 11.80 to $ 12.10 adj. diluted EPS FY2020 Adjusted Diluted EPS around $ 1 billion free cash flow includes Stanford settlement* FY2020 Free Cash Flow around
Slide 11: Appendix: Reconciliation of Non-GAAP Measures
willistowerswatson.com willistowerswatson.com Appendix: Reconciliation of Non - GAAP Measures 10 © 2020 Willis Towers Watson. All rights reserved.
Slide 12: Appendix 1: Constant currency and organic revenue change
willistowerswatson.com Appendix 1: Constant currency and organic revenue change As reported, USD millions, except % 11 © 2020 Willis Towers Watson. All rights reserved. ( i ) Components of revenue change may not add due to rounding As Reported Currency Constant Currency Acquisitions/ Organic 2019 20
Slide 13: Appendix 2: Adjusted operating income and margin, adjusted EBITDA and margin, free cash flow
willistowerswatson.com Appendix 2: Adjusted operating income and margin, adjusted EBITDA and margin, free cash flow As reported, USD millions, except % 12 © 2020 Willis Towers Watson. All rights reserved. 2019 2018 Cash flows from operating activities 1,081$ 1,288$ Less: Additions to fixed assets an
Slide 14: Appendix 3: Adjusted net income, adjusted diluted EPS, adjusted income before taxes
willistowerswatson.com Appendix 3: Adjusted net income, adjusted diluted earnings per share, adjusted income before taxes, adjusted income tax rate As reported, USD millions, except % 13 © 2020 Willis Towers Watson. All rights reserved. ( i ) The tax effect was calculated using an effective tax rate
Slide 15: About Willis Towers Watson
willistowerswatson.com About Willis Towers Watson Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has more than 45,000 employees and s