Jones Lang Lasalle Incorporated · NYSE:JLL
Jones Lang Lasalle — Q2 2013 Earnings Presentation
23 slides from Jones Lang Lasalle's earnings presentation, Jul 31, 2013
Slide 1: Supplemental Information Second-Quarter 2013 Earnings Call
Exhibit 99.2 Supplemental Information Second-Quarter 2013 Earnings Call
Slide 2: Market & Financial Overview
Market & Financial Overview Jones LANG LASALLE’
Slide 3: Q2 Capital Markets and Leasing Volumes
Q2 Capital Leasing volumes Markets Q2&2013 Leasing v. Q2Markets 2012 Gross Volumes Absorption Strong Leasing Q2 for Capital Americas Q2 (U.S. 2013 v. only) Q2 -3% 2012EMEA Market(Europe Volumesonly) Capital -3%Markets Asia Pacific Americas (select 11%markets) EMEA-25% 2% Asia TotalPacific -5% 18% To
Slide 4: Selected Capital Markets and Leasing Wins
Selected sf LogoPark €172M 1.6M - 350 sf-Madison -Business Vatti Parke North, Gas Hotel Avenue, Moscow Wins Appliance, Clarke and New – Expansions 773K Quay, Zhongshan York sfSingapore - TW Myriad Global –Telecom, 2.8M Healthcare, - -The Shell sf -Denver Exchange, Win 80MHang UK–sf163K –-Tianjin Can
Slide 5: Full-Year Capital Markets & Leasing Markets Volumes
Full-Year Capital Markets & Leasing Markets Volumes Q2 2013 v. Q2 2012 FY 2013 v. FY 2012 Capital Markets Americas a 11% Re 10-15% EMEA t 2% t Flat Asia Pacific tt 18% BR 10-15% Total tr 10% tf 510% 2013 Leasing volumes predicted flat to 2012 Q2 2013 v. Q2 2012 FY 2013 v. FY 2012 Leasing Americas (U
Slide 6: Prime Offices Projected Changes in Values 2013
Prime–Offices Boston, Angeles York Midtown, Chicago, New York*, – Projected London LosToronto, Angeles, –Changes West Washington New End, inYork* Values, ParisDC, Toronto, - CBD. 2013 Dubai 6Nominal Washington +Stockholm, 10-20% rates +DC, 5-10% Madrid, in local Stockholm + currency. Brussels 0-5% T
Slide 7: Financial Information
Financial Information @ Jones LANG LASALLE”
Slide 8: Q2 2013 Revenue
$852.2 however, LIM $402.9 Consolidated $908.3 $431.6 are excluded 2012($2013 $254.4 in$267.6 from millions; $382.7 Consolidated $204.6 $407.4 % change $228.4 2012 totals. in$921.3 USD) 2013 Year-over-year 8?Q2 Fee7% revenue 2013 (6% Revenue fee) increases Gross $183.6 contract Performance shown $20
Slide 9: YTD 2013 Revenue
$1,597.1 results, Pacific (6% fee)LIM however, $793.3 $1,688.8 Consolidated $744.4 are 2012 excluded $472.4 2013 ($ in$708.4 from $512.6 millions; Consolidated $749.8 $391.0 % change 2012 $418.3 totals. 2013 in $1,734.7 USD) 9Year-over-year YTD ? 7% $1,845.4 2013 (6%Revenue fee) increases Fee$345.1
Slide 10: Q2 Real Estate Services Fee Revenue and Earnings
10 Q2 earnings 6% 13% $27.6 8% $60.2 Fee $257.5 ?2013 7% Revenue (losses). ? $16.2 (10%) Real ? 10% $407.3 Estate Fee ?$40.6 Fee 2%revenue Revenue $86.1 Services ? 6% (10%) ?presentation $234.6 0% $86.3 Revenue $298.6 Advisory, ? ?4% ?5% ($ 0% of $205.1 $42.0 in Consulting Property Capital millions;
Slide 11: YTD Real Estate Services Fee Revenue and Earnings
11(5%) Equity $350.1 ?$200.5 $1,724.4 YTDearnings $51.6 ? 2013 4% 10% ? 8%$109.1 ?Real $508.8 Fee 3% (losses). $31.6 Revenue Estate ? ?(4%) 8% Fee ?Services 5% Fee $68.6 $749.5 revenue $163.3 Revenue ?Revenue (12%) ? 6% presentation ? 0% $175.7 $445.4 $527.8 Advisory, ($ in??millions; ?5% of 7% 0% P
Slide 12: LaSalle Investment Management Results and Adjusted EBITDA
LaSalle opportunities asset $10.3 20 $ 11 sales Revenue Adjusted Investment Expect Assets 2013 EBITDA lower Management Under 2012 incentive Advisory Margin Management Note: fees 28.4% Fees for AUM and $17.8% FY 55advisory data 2013 $ 57 ($reported Transaction in compared millions) fees stable on wit
Slide 13: Balance Sheet, Cash Flows and Borrowing Position
Solid Long borrowing Deferred 152 870 of Cash $Short Term Balance 538 Flows Acquisition Term ($ pattern Senior inSheet millions) Borrowings Q2 Notes Position Payments/Earn Capital issued 13 51 *Investment Spending Excludes 38 in Q4 32Outs Credit 2012 primarily $7M grade $Healthy 72m Facility ofbalan
Slide 14: Appendix
Appendix Jones LANG LASALLE
Slide 15: Property Clocks: Capital Value Growth
15 Prime space Brussels London Francisco, SydneyinMilan Los CBD Tokyo Offices Houston, Angeles or Brussels Mumbai, equivalent. - Capital Berlin San Madrid Mexico Francisco, Value Toronto Q2London 2012 Clock, City WashSianogtPoanu Houston Q2 Sydney Moscow Q2 2013 2012 Dallas Beijing Shanghai, Hong v
Slide 16: Property Clocks: Rental Value Growth
16CBD in Kong Amsterdam Rental Mumbai, Prime Seoul, Values orOffices Boston equivalent. San Tokyo, falling Francisco Sydney – Rental Los Chicago, USAngeles Beijing positions Clock, NewHong York, Johannesburg Dallas Q2relate Kong, 2012 Mexico Beijing tovSingapore, the Q2City Milan overall Shanghai 20
Slide 17: Revenue and Fee Revenue Reconciliation
Fee 9.6 Restructuring margin. requirements Consolidated Costs: 7.2 2.9 1,498.8 2.7 Revenue Property Project 5.6 Adjusted Reimbursable Total /increase Revenue and Expense &&Gross Operating Development acquisition Facility revenue vendor, $Contract Reconciliation 9 89.4 Management Income charges subco
Slide 18: Q2 Adjusted EBITDA by Segment
$48.6 Income depreciation ($ in millions) $46.9 to Adjusted 2012 and$16.5 amortization 2013 EBITDA $16.5 18 Q2 2012 for to 2013 its 2013 thereported Adjusted three $10.6 months $20.2 operating EBITDA* ended 2012income, Performance 2013 June $19.0 30, which 2012, $18.1 Americas excludes and2012 2013,
Slide 19: YTD Adjusted EBITDA by Segment
$70.4 Income depreciation ($ in millions) $72.0 to Adjusted 2012 and$26.6 amortization 2013 EBITDA $22.0 19 YTD 2012 for to 2013 its 2013 thereported six Adjusted $38.1 months $34.0 operating EBITDA* ended 2012income, June 2013 Performance 30,$14.6 which 2012,$21.5 excludes and Americas 2013, 2012re
Slide 20: Q2 Revenue and Fee Revenue in USD
20 Q2 (losses). (9%) Fee (1%) $407.3 Revenue $40.6 $86.1 2013 ? Fee 6%?Real revenue $234.6 $86.3 (11%) (1%) Estate Advisory, ?$298.6 ?5% presentation 4%Services $42.0 $205.1 ? Consulting 0%? Revenue 0% Capital ?of12% Property $82.3 $847.0 &Markets ($ Other ? 10% in&millions; ?Facility $27.5 6% &$210
Slide 21: YTD Revenue and Fee Revenue in USD
213% earnings 4% ?$508.8 Fee YTD $109.1 Revenue $31.6 ? 2013 (losses). 6%?? Fee (4%) $749.5 2% Real Revenue $163.3 Fee $68.6 Estate ?revenue 6%? Services $445.4 $175.7 (13%) (1%)presentation Advisory, $527.8 ?Revenue 5% $372.9 7% $82.5 ? Consulting 0% of($?Property Capital ?in 0% 8% millions; $164.7
Slide 22: Reconciliation of GAAP Net Income to Adjusted Net Income
22 Reconciliation common 73.1 Shares shareholders (in 000s) of GAAP 45,141 $ 46.3Net 44,847 $ 37.2 Income $45,091 59.4 to Adjusted $44,726 51.2 Restructuring Shares Adjusted Net Income (in 000s) diluted and Three 45,141 acquisition earnings Months 44,847 per Ended charges, share 45,091 June $net 44,
Slide 23: Reconciliation of GAAP Net Income to Adjusted EBITDA
23 Reconciliation 51.9 Restructuring Interest expense, and of acquisition GAAP net of Net interest charges Income income 6.6to16.6 Adjusted 9.09.8 7.525.6 17.0 EBITDA Adjusted 14.9 Provision Three EBITDA Months for$income 101.7 Ended$taxes June 94.630 16.4 $ 149.5 Six12.8 Months $ 20.8 149.7Ended 17