Jones Lang Lasalle Incorporated · NYSE:JLL
Jones Lang Lasalle — Investor Presentation (March 2013)
33 slides from Jones Lang Lasalle's investor presentation, Mar 18, 2013
Slide 1: Investor Presentation
Exhibit 99.1 March 2013 Investor Presentation ..48,000 employees….200 offices….70 countries….1 global platform..
Slide 2: Table of Contents
Table of Contents I. Company Description II. Global Growth Strategy III. Financial Overview IV. Appendix 2
Slide 3: Company Description
Company Description Jones LANG LASALLE’
Slide 4: Jones Lang LaSalle
Jones Lang LaSalle Global real estate services Premier global investment manager • Strategic, fully integrated services for real estate • LaSalle Investment Management provides outstanding owners, occupiers and investors performance and service for clients with global real estate • Productivity and
Slide 5: Transformational M&A Extends Market Positions
Transformational M&A Extends Market Positions 1760 1783 1957 1968 19971999 200720082011 Jones Lang Wootton founded in London Jones Lang Wootton expands into Asia Pacific LaSalle Partners founded, operating primarily in the Americas LaSalle Partners initial public offering LaSalle Partners and Jones
Slide 6: Jones Lang LaSalle Growth in a Consolidating Industry
Jones Lang LaSalle Growth in a Consolidating Industry Commercial Real Estate Services • Corporate real estate decisions frequently • Clients moving towards centralized, de-centralized sophisticated global CRE decisions 2 • Fragmented competitive landscape with • Global service providers positioned f
Slide 7: Market Share Expansion Drives Growth and Cash Flow
Market Share Expansion Drives Growth and Cash Flow Emerging markets Demand for Outsourcing Top asset Market Industry to lead global local and global growth managers winning Trends consolidation expansion services continues investor mandates JLL Performance 3-Year Cash from Earnings = $962M (In milli
Slide 8: Leading Brand Well-Positioned for Growth
Leading Brand Well-Positioned for Growth Jones Lang LaSalle Opportunity 2012 Revenue = $3.9B • Capitalize on leading global markets positions for United improved transactional and annuity revenue Kingdom United 13% • Continue Corporate Solutions leadership; capture States 43% France 4% Germany 3% em
Slide 9: Global Growth Strategy
Global Growth Strategy Jones LANG LASALLE’
Slide 10: Jones Lang LaSalle Global Growth Strategy
Jones Lang LaSalle Global Growth Strategy G1 G2 Build our local and regional Strengthen our winning leasing and capital markets positions in Corporate businesses Solutions G5 Connections Capture the leading Grow LaSalle Investment share of global capital Management’s leadership flows for investment
Slide 11: Leasing Trends and Expectations in Global Office Demand
Leasing Trends and Expectations in Global Office Demand Modest leasing activity growth expected in 2013 Net Absorption Trends Leasing Volumes 25 • Overall, 0-5% growth over 2012 expected in nd 20 21.1 2013withmomentum buildingin2 half • Americas growth estimates 0-5% 15 16.2 16.0 • EMEA market recov
Slide 12: Global Capital Flows for Investment Sales
Global Capital Flows for Investment Sales 2013 volumes set to approach $500 billion, up 10-15% Direct Commercial Real Estate Investment, 2005-2013 ($ in billions) 350 Exceptional end to 2012 300 pushes full-year volumes slightly ahead of 2011 250 +15-20% 200 -5% 150 +15% 100 50 0 Americas EMEA Asia
Slide 13: JLL Leasing and Capital Markets Revenue
JLL Leasing and Capital Markets Revenue Asia Pacific EMEA Americas Leasing Capital Markets ($ in millions) ($ in millions) +9% $1,278 $1,188 $198 +13% $1,000 $192 $557 $159 $250 $513 $236 $104 $460 $753 $781 $109 $108 $203 $95 $593 $133 $173 $317 $306 $125 $247 $339 $60 $81 $235 $830 $203 $229 $227
Slide 14: Corporate Solutions
Corporate Solutions Expertise across services & geographies to capitalize on market trends Competitive Global Advantages Position Transformational Space Portfolio Energy outsourcing optimization transparency management JLL Service Offerings JLL Client Wins Middle Market Large Corporates Corporate Co
Slide 15: LaSalle Investment Management
LaSalle Investment Management Proven performance history with long-standing client relationships Competitive Diversified Core, Value Add, 300+ Consistent client Financial backing Advantages global Opportunistic, institutional services delivery of well-capitalized platform Public Equity clients model
Slide 16: Consolidating Industry Leads to JLL Opportunity
Consolidating Industry Leads to JLL Opportunity Align with Enhance service Cultural Meet Strategic G5 strategy delivery for clients alignment financial goals Transformative Results The Staubach King Sturge Meghraj Trinity Funds Company Management Strategy Establish leading U.S. local Strengthen loca
Slide 17: Financial Overview
Financial Overview Jones LANG LASALLE’
Slide 18: Consolidated 2012 Earnings Scorecard
Consolidated 2012 Earnings Scorecard Fee Adjusted Adjusted Adjusted Adjusted EBITDA Revenue Net Income EPS EBITDA Margin 2012 $3.6B $245M $5.48 $436M 12.0% Gross revenue : $3.9B US GAAP: $208M US GAAP: $4.63 EBITDA: $391M EBITDA margin: 9.9% 2011 $3.4B $215M $4.83 $395M 11.7% Gross Revenue: $3.6B US
Slide 19: 2012 Real Estate Services Revenue
2012 Real Estate Services Revenue ($ in millions; % change in local currency over FY 2011) Americas EMEA Asia Pacific Total RES Leasing $829.6 9% $250.0 11% $198.2 4% $1,277.8 9% Capital Markets & Hotels $168.5 25% $235.1 5% $109.3 15% $512.9 13% Property & Facility Management $458.7 32% $155.2 9% $
Slide 20: Americas Real Estate Services
Americas Real Estate Services Fee Revenue Operating IncomeOperating Income EBITDA EBITDA Margin 2012 Margin Segment Profile $1,662M $168M 10.1% $210M 12.7% YoY Growth: 11% 2011 $1,504M $163M 10.8% $201M 13.4% 2012 Highlights Revenue by Geography • Full-year fee revenue up 11% from 2011 United • Incr
Slide 21: EMEA Real Estate Services
EMEA Real Estate Services Fee Revenue Adj. Operating Adj. Operating EBITDA EBITDA Margin 2012 Income Income Margin Segment Profile $936M $58M 6.2% $75M 8.0% YoY Growth: 9% 2011 $888M $39M 4.4% $57M 6.5% 2012 Highlights Revenue by Geography • Broad-based fee revenue increase of 9% in France 17% local
Slide 22: Asia Pacific Real Estate Services
Asia Pacific Real Estate Services Fee Revenue Operating IncomeOperating Income EBITDA EBITDA Margin 2012 Margin Segment Profile $781M $65M 8.4% $78M 10.0% YoY Growth: 11% 2011 $713M $66M 9.3% $78M 11.0% 2012 Highlights Revenue by Geography • Fee revenue growth of 9% in local currency Greater vs. pri
Slide 23: LaSalle Investment Management
LaSalle Investment Management Revenue Operating IncomeOperating Income EBITDA EBITDA Margin 2012 Margin Segment Profile $285M $72M 25.2% $74M 25.9% YoY Growth: 12% 2011 $275M $57M 20.7% $60M 21.7% 2012 Highlights Q4 2012 AUM = $47 Billion ($ in billions) • Large incentive fees and equity earnings U.
Slide 24: Solid Cash Flows and Balance Sheet Position
Solid Cash Flows and Balance Sheet Position Cash from Total Net Interest Investment Grade Credit Facility 2012 Key Earnings Net Debt Expense Ratings Capacity Statistics $335M $538M $35.2M Baa2| BBB- $1.1B 2012 Highlights Cash Flows 2012 2011 • Significant cash generation with $105 million of ($ in m
Slide 25: Key Takeaways
Key Takeaways Optimism returning to global markets JLL actions for continued success Leverage global positions to grow market share On-going industry consolidation and continue client success in local markets trends continue Increase productivity and manage costs to improve margin Continuing growth
Slide 26: Appendix
Appendix Jones LANG LASALLE’
Slide 27: JLL Property Clocks
SM JLL Property Clocks Asia Pacific EMEA Americas Leasing Values Capital Values as of Q4 2012 Amsterdam, Beijing, as of Q4 2012 Hong Kong, Paris, Amsterdam, Beijing, Paris, Shanghai Shanghai Boston, Chicago, Los London, Sao Paulo Angeles, New York, Sao Paulo, Stockholm Toronto Shanghai Milan Stockho
Slide 28: FY 2012 Real Estate Services Revenue
FY 2012 Real Estate Services Revenue ($ in millions; % change in over USDFY 2011) Americas EMEA Asia Pacific Total RES Leasing $829.6 9% $250.0 6% $198.2 3% $1,277.8 7% Capital Markets & Hotels $168.5 24% $235.1 3% $109.3 15% $512.9 12% Property & Facility Management $458.7 31% $155.2 5% $398.4 9% $
Slide 29: Q4 2012 Real Estate Services Revenue
Q4 2012 Real Estate Services Revenue ($ in millions; % change in over USDDecember QTD 2011) Americas EMEA Asia Pacific Total RES Leasing $278.9 8% $83.7 3% $76.6 11% $439.2 7% Capital Markets & Hotels $59.4 23% $94.9 8% $40.1 82% $194.4 12% Property & Facility Management $133.2 13% $42.4 0% $108.3 7
Slide 30: Fee Revenue / Expense Reconciliation
Fee Revenue / Expense Reconciliation • Reimbursable vendor, subcontractor and out-of-pocket costs reported as revenue and expense in JLL financial statements have been steadily increasing • Margins diluted as gross accounting requirements increase revenue and costs without corresponding profit • Bus
Slide 31: Reconciliation of GAAP Net Income to Adjusted Net Income and Earnings per Share
Reconciliation of GAAP Net Income to Adjusted Net Income and Earnings per Share Twelve Months Ended December 31, ($ in millions) 2012 2011 2010 GAAP Net income attributable to common shareholders$ 207.6 $ 164.0 $ 153.5 Shares (in 000s) 44,799 44,367 44,084 GAAP earnings per share $ 4.63 $ 3.70 $ 3.4
Slide 32: Reconciliation of Operating Income to Adjusted Operating Income and GAAP Net Income to Adjusted EBITDA
Reconciliation of Operating Income to Adjusted Operating Income and GAAP Net Income to Adjusted EBITDA Twelve Months Ended December 31, ($ in millions) 2012 2011 2010 Operating Income $289.4 $251.2 $260.7 Restructuring and acquisition charges 45.4 56.1 6.4 Intangible amortization 4.9 11.5 - Non-cash
Slide 33: 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
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