Jones Lang Lasalle Incorporated · NYSE:JLL
Jones Lang Lasalle — Investor Presentation (February 2011)
39 slides from Jones Lang Lasalle's investor presentation, Feb 16, 2011
Slide 1: Investor Presentation
Exhibit 99.1 February 2010 Investor Presentation ..40,000 employees….185 offices….60 countries….1 global platform..
Slide 2: Forward looking statements
Forward looking statements Statements in this presentation regarding, among other things, future financial results and performance, achievements, plans and objectives and dividend payments may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act
Slide 3: Table of Contents
Table of Contents I. Company Description II. Financial Overview III. Market Environment IV. Global Growth Strategy V. 2011 Priorities 3
Slide 4: Company Description
Company Description ( Jones LANG LASALLE”
Slide 5: Jones Lang LaSalle company history
Jones Lang LaSalle Company history 1783 1968 1997 19992008Present JonesLangWoottonfoundedinLondon LaSalle Partners founded, operating primarily in the Americas LaSalle Partners initial public offering LaSallePartnersandJonesLangWoottonmergetocreateJonesLangLaSalle Integratedglobalplatform(NYSEticker
Slide 6: Leading integrated services and investment management firm
Jones Lang LaSalle Leading integrated services and investment management firm 2010 Revenue = $2.9 billion • Leading global market positions bolstered by more LaSalle than 30 mergers and acquisitions since 2005 Property & Facility Inv. Mgmt. Management 9% Advisory • Corporate Outsourcing drives growt
Slide 7: Market Share and Service Line Expansion
Market Share and Service Line Expansion 33 acquisitions with full productivity revenue of $750 million Staubach Spaulding & Slye Standard Group Market share growth Klatskin Zietsman • Middle Market Corporate Solutions CRA ECD TCF Americas HIA • Leasing Alkas • Capital Markets Meghraj Area Zero Stren
Slide 8: LaSalle Investment Management: A decade of accomplishments
LaSalle Investment Management A decade of accomplishments Favors • Built a global platform : major institutional markets, serves international investors & supports public and private investing - Morethan300institutional clientsworldwide- investor basegreaterthan90%institutional • Expertise developed
Slide 9: More than 40,000 employees driving growth across service lines
Jones Lang LaSalle More than 40,000 employees driving growth across service lines Investment assets Property and corporate facilities under management $41B under management (s.f.) 1.8B LaSalle Inv. LEED-accredited professionals 585 Property & Facility Mgmt. 9% Management 24% Annual energy savings fo
Slide 10: Financial Overview
Financial Overview ( Jones LANG LASALLE”
Slide 11: Consolidated Earnings Scorecard
Consolidated Earnings Scorecard Demonstrating competitive strength 2010 Highlights FY 2010 FY 2009 • Record revenue of $2.9 billion, up 17% in local Revenue $2.9B $2.5B currency over 2009 % change in local currency 17% (5%) • Global Leasing revenue reaches $1 billion; up by Net Income $154M ($4M) mo
Slide 12: 2010 Accomplishments and Trends
2010 Accomplishments and Trends – Full-year revenue of more than $2.9 billion Consolidated – Adjustedoperatingincomemarginof9.1%,adjustedEBITDAmarginof11.5% – Leasing revenue increased 28% – Both U.S. and Regional multi- national corporate wins – Strong Capital Markets & Hotels revenue growth – Over
Slide 13: FY 2010 Revenue Performance
FY 2010 Revenue Performance ($ in millions; % change in local currency) Americas EMEA Asia Pacific LaSalle $1,261.5 $1,031.6 17% Consolidated Note: Equity losses of $58.9M and $11.4M in 2009 and 2010, respectively, are included in segment results, however, are excluded from Consolidated totals. 13
Slide 14: Real Estate Services Revenue
Real Estate Services Revenue 2010 Real Estate Services ($ in millions; Americas EMEA Asia Pacific Total RES % change in local currency) Revenue Leasing $637.9 28% $202.6 22% $159.4 34% $999.9 27% Capital Markets & $84.1 120% $141.2 37% $80.4 25% $305.7 51% Hotels Property & Facility $269.4 19% $142.
Slide 15: Local and Regional Real Estate Services
Local and Regional Real Estate Services Asia Pacific Leasing and Capital Markets capturing incremental revenue EMEA Americas Leasing Capital Markets (1) (1) FY 2010: 27% in local currency FY 2010: 51% in local currency ($ in millions) ($ in millions) $1,000 $753 $781 $593 $557 $317 $306 $203 Full Ye
Slide 16: Solid Cash Flows and Balance Sheet Position
Solid Cash Flows and Balance Sheet Position ($ in millions) Cash Flows FY 2010 FY 2009 2010 Highlights Cash from Earnings $316 $244 Working Capital 68 7 • Strong cash from earnings growth Cash from Operations $384 $251 • Net debt repayment of $250 million Primary Uses (1) Capital Expenses (48) (44)
Slide 17: Solid Cash Flows and Balance Sheet
Solid Cash Flows and Balance Sheet Positioned to drive growth and investment ($ in millions) 2010 Free Cash Flow (1) Disciplined CapEx spending Effective tax management Opportunity to grow and (24% effective tax rate) invest in the business $440 Investment grade balance sheet Return to Table of Cont
Slide 18: Market Environment
Market Environment ( Jones LANG LASALLE”
Slide 19: Capital Markets Leading Real Estate Fundamentals
Capital Markets Leading Real Estate Fundamentals Increasingly synchronized recovery Capital Values Leasing Fundamentals Shanghai Beijing Hong Kong, Capital Value Capital Value Rental Value Rental Values London, growth slowing falling growth slowing falling Sao Paulo Sao Paulo Detroit Washington DC C
Slide 20: Prime Offices
Prime Offices 2010 rental change Hong Kong Singapore Moscow Sao Paulo Shanghai London Brussels San Francisco Washington DC Paris Toronto Sydney Mumbai Chicago New York Amsterdam Tokyo Frankfurt Los Angeles Madrid Dubai % change -35 -30 -25 -20 -15 -10 -5 0 5 10 15 20 25 30 35 BasedonrentsforGradeA s
Slide 21: Global Markets Perspective
Global Markets Perspective Prime officesprojected – value change in 2011 Rental Values Capital Values + 20% Hong Kong Hong Kong Shanghai, Singapore, Tokyo, Moscow, Shanghai, Singapore, Tokyo, New York*, + 10-20% Sao Paulo, New York*, San Francisco, San Francisco, Sao Paulo, Moscow, Toronto, Washingt
Slide 22: Global Growth Strategy
Global Growth Strategy Jones LANG LASALLE”
Slide 23: Global strategy for renewed growth
Jones Lang LaSalle Global strategy for renewed growth G1 Build our leading local and regional market positions G2 Grow our leading positions in Corporate Solutions G3 Capturetheleadingshareofglobalcapitalflowsforinvestmentsales G4 Strengthen LaSalle Investment Management’s leadership position G5 Con
Slide 24: G1 Staubach merger transforms U.S. local markets position
Local and Regional Services G1 Staubach merger transforms U.S. local markets position Merger Impact: Market Leadership • Reinforced JLL’s position as the high quality brand for occupier clients • Significantly improved our market position; 990 brokers in the field today; up more than 200% over 2007
Slide 25: G1 European retail acquisitions providing scale in key markets
Local and Regional Services G1 European retail acquisitions providing scale in key markets Fully integrated approach maximizing client value • Managing 81 million sq ft of retail assets • Leasing 75 million sq ft of space in 200 shopping centers • Valuation of 450 shopping centres of 97 million sq f
Slide 26: G2 Leading position with unique expertise across services & geographies
Global Corporate Solutions G2 Leading position with unique expertise across services & geographies • Accelerate new client wins and innovate for existing clients to broaden relationship - 60 new wins, 33 expansions and 32 renewals in 2010 - More than 700 million sq ft under management as of December
Slide 27: G2 Asia Pacific gaining share with local and multinational corporates
Global Corporate Solutions G2 Asia Pacific gaining share with local and multinational corporates Sanyo Alcatel-Lucent Wipro Sony Philips Infosys Citi Merck Telestra AFP Centrelink Fonterra 27
Slide 28: G3 Positioned to leverage leading share as markets recover
Capture Global Capital Flows for Investment Sales G3 Positioned to leverage leading share as markets recover Development & Strategic Construction Review Management 2011 volumes expected to increase a further 20-25% Investment Sales Research on Local Martkets Direct Commercial Real Estate Investment,
Slide 29: G4 LaSalle Investment Management: A premier global investment manager
G4 LaSalle Investment Management A premier global investment manager 2010 Highlights nd • $5 billion ofnetnewcapitalraised, 2 bestyearinLaSallehistory • More than $3 billion invested worldwide in 2010 • Healthy margins generated from Advisory Fees Assets Under Average Product Management Performance
Slide 30: G5 Technology enabling value added connections
Connecting Across the Firm and With Clients G5 Technology enabling value added connections JLL Brand Extensive Market Capabilities Knowledge & Connecting & Products Experience JLL to add value for clients Colleagues Thought Sharing Leadership & Relationships Research Technology JLL OneView www.jones
Slide 31: G5 Energy and Sustainability Services
G5 Energy and Sustainability Services Energy conservation and cost savings a growing priority Making an Impact • Nearly 600 LEED Accredited Professionals • 116 LEED projects globally, including st • 1 LEED Platinum high-rise; One Bryant Park, New York st • 1 LEED building registered in India; Sohrab
Slide 32: 2011 Priorities
2011 Priorites ( JONES LANG LASALLE”
Slide 33: 2011 Priorities: Enhance margin and strengthen income quality
2011 Priorities Enhance margin and strengthen income quality • Leverage strengthening local markets positions • Continuing growing scale in Corporate Solutions • Maintain LaSalle Investment Management’s stable advisory fee margins; enhance with transaction and incentive fees • Grow margin to medium
Slide 34: 2011 Priorities: Capture consolidation opportunities
2011 Priorities Capture consolidation opportunities in the marketplace Strategy Opportunity Target Financial Objective G1 Secure market leadershipGoal – to be #1, #2 or #3 in targeted local and regional market services G2 Provide specialized technical services to Corporate Solutions outsourcing clie
Slide 35: Setting the industry standard for real estate service companies
Jones Lang LaSalle Setting the industry standard for real estate service companies Premier Leading Global Platform • Approximately 185 offices in more than 60 countries worldwide • Research-driven global investment management business • Client demands for global expertise satisfied by few providers
Slide 36: Appendix
Appendix ( JONES LANG LASALLE”
Slide 37: Reconciliation of GAAP Net Income (Loss) to Adjusted Net Income
Reconciliation of GAAP Net Income (Loss) to Adjusted Net Income ($ in millions) FY 2010 FY 2009 GAAP net income (loss) $ 153.5 $ (4.1) Shares (in 000's) 44,084 38,543 GAAP earnings (loss) per share $ 3.48 $ (0.11) GAAP net income (loss) $ 153.5 $ (4.1) Restructuring, net of tax 4.9 35.6 Non-cash co-
Slide 38: Reconciliation of GAAP Net Income (Loss) to EBITDA and Adjusted EBITDA
Reconciliation of GAAP Net Income (Loss) to EBITDA ($ in millions) and Adjusted EBITDA FY 2010 FY 2009 Net income (loss) $ 153.5 $ (4.1) Interest expense, net of interest income 45.8 55.0 Provision (benefit) for income taxes 49.0 5.7 Depreciation and amortization 71.6 83.3 EBITDA $ 319.9$ 139.9 Non-
Slide 39: Reconciliation of GAAP Net Income (Loss) to EBITDA and Free Cash Flows
Reconciliation of GAAP Net Income (Loss) to EBITDA ($ in millions) and Free Cash Flows FY 2010 FY 2009 Net Income (Loss) $154 ($4) Interest Expense, net of interest income 46 55 Provision (benefit) for income taxes 49 6 Depreciation and amortization 72 83 EBITDA $321 $140 Change in working capital 6
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