Willis Towers Watson Public Limited Company · NASDAQ:WTW
Willis Towers Watson Public — Willis Towers Watson — Q3 2021 Earnings Presentation
19 slides from Willis Towers Watson Public's earnings presentation, Oct 28, 2021
Slide 1: 2021 Third Quarter Financial Results
willistowerswatson.com willistowerswatson.com Willis Towers Watson Earnings Release Supplemental Materials 2021 Third Quarter Financial Results October 28, 2021 © 2021 Willis Towers Watson. All rights reserved.
Slide 2: Forward Looking Statements
willistowerswatson.com Willis Towers Watson Forward Looking Statements © 2021 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 © 2021 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: Q3 2021 GAAP Financial Results
willistowerswatson.com Q3 2021 GAAP Financial Results Key figures as reported are from continuing operations unless otherwise stated © 2021 Willis Towers Watson. All rights reserved. 3 $USD million, except EPS and % Three months ended September 30, Nine months ended September 30, 2020 2021 change %
Slide 5: Q3 2021 Non-GAAP Key Results From Continuing Operations
willistowerswatson.com Q3 2021 Non - GAAP Key Results From Continuing Operations 1 Willis Towers Watson reports third quarter 2021 earnings © 2021 Willis Towers Watson. All rights reserved. $ 2.0 B Q3 2021 Revenue Total Revenue Broad - Based Organic Growth Constant currency growth of 3% and organic
Slide 6: Organic Revenue Growth Across All Segments
willistowerswatson.com Organic Revenue Growth % Organic Growth Across All Segments From Continuing Operations Our unwavering commitment to our clients and colleagues is key to our growth © 2021 Willis Towers Watson. All rights reserved. 5 HCB organic revenue growth was driven by Talent and Rewards s
Slide 7: Summary of Segment Financial Results
willistowerswatson.com Summary of Segment Financial Results Q3 2021 segment results compared to Q3 2020 on continuing operations basis © 2021 Willis Towers Watson. All rights reserved. 6 As reported, $USD million, except % Q3 2020 Q3 2021 Revenue Operating Margin % 2 Revenue Operating Margin % 2 Mar
Slide 8: Maintaining A Flexible Balance Sheet
willistowerswatson.com Maintaining A Flexible Balance Sheet Reinforcing our business fundamentals; safeguarding WTW’s financial strength 7 © 2021 Willis Towers Watson. All rights reserved. A disciplined capital management strategy intended to provide Willis Towers Watson with the financial flexibili
Slide 9: A Capital Strategy Fit For The Short & Long-Term
willistowerswatson.com A Capital Strategy Fit For The Short & Long - Term 8 © 2021 Willis Towers Watson. All rights reserved. CASH RETURNED TO SHAREHOLDERS $ 4.6 B FY2016 to Q3 FY2021 2017 $ 199 $ 709 $ 396 2016 $ 277 $ 602 $ 306 $ 346 2018 $ 150 $ 329 $ 595 2019 2020 $ 1,000 $ 275 2021 YTD $ 986 $
Slide 10: Driving Continuous Sustainable Adjusted Operating Margin Improvement
willistowerswatson.com Driving Continuous Sustainable Adjusted Operating Margin Improvement 9 © 2021 Willis Towers Watson. All rights reserved. 14.6% 9/30/2020 12.5% 9/30/2021 +210bps adj operating margin improvement YTD 2021 Continuing operations adjusted operating margin Nine months ended Septembe
Slide 11: Key financial targets
willistowerswatson.com 10 © 2021 Willis Towers Watson. All rights reserved. YTD 2021 Continuing operations adjusted operating margin Key financial targets | Strategic initiatives will deliver sustainable growth and results 3 - year revenue growth FY2024 adjusted operating margin FY2022 to FY2024 str
Slide 12: Capital allocation
willistowerswatson.com 11 © 2021 Willis Towers Watson. All rights reserved. YTD 2021 Continuing operations adjusted operating margin Capital allocation | ~$10B - $11B of firepower to drive shareholder value with a bold new investment in Willis Towers Watson providing a strong foundation for adjusted
Slide 13: Appendix: Reconciliation of Non-GAAP Measures & Restatement for Discontinued Operations
willistowerswatson.com willistowerswatson.com Appendix: Reconciliation of Non - GAAP Measures & Restatement for Discontinued Operations 12 © 2021 Willis Towers Watson. All rights reserved.
Slide 14: Appendix 1: Constant currency and organic revenue change
willistowerswatson.com Appendix 1: Constant currency and organic revenue change As reported, USD millions, except % 13 © 2021 Willis Towers Watson. All rights reserved. ( i ) Components of revenue change may not add due to rounding Components of Revenue Change ( i ) Three Months Ended September 30,
Slide 15: Appendix 2: Adjusted operating income and margin, adjusted EBITDA, free cash flow
willistowerswatson.com Appendix 2: Adjusted operating income and margin, adjusted EBITDA and margin, free cash flow As reported, USD millions, except % 14 © 2021 Willis Towers Watson. All rights reserved. Nine Months Ended September 30, 2021 2020 Cash flows from operating activities $ 1,877 $ 1,206
Slide 16: Appendix 3: Adjusted net income and adjusted diluted EPS
willistowerswatson.com Appendix 3: Adjusted net income and adjusted diluted earnings per share As reported, USD millions, except % and EPS 15 © 2021 Willis Towers Watson. All rights reserved. ( i ) The tax effect was calculated using an effective tax rate for each item. (ii) Per share values and tot
Slide 17: Appendix 4: Adjusted income before taxes and adjusted income tax rate
willistowerswatson.com Appendix 4: Adjusted income before taxes and adjusted income tax rate As reported, USD millions, except % and EPS 16 © 2021 Willis Towers Watson. All rights reserved. ( i ) The tax effect was calculated using an effective tax rate for each item. Nine Months Ended September 30,
Slide 18: Appendix 5: Restated Income Statement For Continuing Operations
willistowerswatson.com Appendix 5: Restated Income Statement For Continuing Operations 17 © 2021 Willis Towers Watson. 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, 202
Slide 19: 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 46,000 employees and s