Willis Towers Watson Public Limited Company · NASDAQ:WTW
Willis Towers Watson Public — Willis Towers Watson — Q1 2025 Earnings Presentation
36 slides from Willis Towers Watson Public's earnings presentation, Apr 24, 2025
Slide 1: WTW Earnings Release Supplemental Materials - Q1 2025
wtwco.com WTW Earnings Release Supplemental Materials April 24, 2025 2025 First Quarter Financial Results © 2025 WTW. All rights reserved.
Slide 2: WTW Forward-Looking Statements
wtwco.com WTW Forward - Looking Statements This document contains ‘forward - looking statements’ within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created by those laws. These
Slide 3: WTW Non-GAAP Measures
wtwco.com © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. WTW Non - GAAP Measures In order to assist read
Slide 4: Key Takeaways
wtwco.com Continued to help clients navigate volatility and uncertainty while confidently executing our strategy and delivering on our commitments Maintained commitment to return capital to shareholders, with share repurchases of $200 million and dividends of $88 million in Q1 2025 Generated Organic
Slide 5: Q1 2025 GAAP Financial Results
wtwco.com Key figures © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. Q1 2025 GAAP Financial Results 5 Th
Slide 6: Q1 2025 Key Figures, Including Non-GAAP Financial Results
wtwco.com © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. Q1 2025 Key Figures, Including Non - GAAP Finan
Slide 7: Financial Review
wtwco.com Financial Review © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. 7
Slide 8: Q1 2025 Segment Highlights: Health, Wealth & Career
wtwco.com Q1 2025 Segment Highlights 1 • For the quarter, HWC had organic revenue growth 2 of 3%. – Health had 6% organic revenue growth in all regions driven by solid client retention, new business and geographic expansion. – Wealth generated 2% organic revenue growth from higher levels of Retireme
Slide 9: Q1 2025 Segment Highlights: Risk & Broking
wtwco.com Q1 2025 Segment Highlights 1 • For the quarter, R&B had organic revenue growth 2 of 7%. – CRB generated organic revenue growth of 8% driven by higher levels of new business activity and strong client retention globally. – ICT organic revenue growth of 3% for the quarter driven by the Consu
Slide 10: Maintaining a Flexible Balance Sheet
wtwco.com Maintaining a Flexible Balance Sheet © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. 1 Total De
Slide 11: Executing Against a Balanced Capital Allocation Strategy
wtwco.com © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. Executing Against a Balanced Capital Allocation
Slide 12: Business Overview
wtwco.com Business Overview © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. 12
Slide 13: WTW at a Glance
wtwco.com © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. 13 WTW at a Glance Delivering superior advice,
Slide 14: Segment Overview: Health, Wealth & Career
wtwco.com +3% Organic Segment Overview: Health, Wealth & Career 1,2 © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide pre
Slide 15: Segment Overview: Risk & Broking
wtwco.com Insurance Consulting and Technology provides advice and technology solutions to the insurance industry to help clients measure and manage risk and capital and improve performance +9% Organic Segment Overview: Risk & Broking 1 © 2025 WTW. All rights reserved. See “WTW Forward - Looking Stat
Slide 16: Focused on Creating Long-Term Value for Shareholders
wtwco.com Focused on Creating Long - Term Value for Shareholders © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presen
Slide 17: Strategy & Outlook
wtwco.com Strategy & Outlook © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. 17
Slide 18: WTW Strategic & Financial Framework
wtwco.com wtwco.com 18 WTW Strategic & Financial Framework Accelerate Performance We will build on recent momentum to drive performance in our businesses Strategic Priorities Enhance Efficiency We will focus on enhancing operational efficiency to sustain margin and FCF improvement Optimize Portfolio
Slide 19: Organic Growth Profile
wtwco.com wtwco.com WTW Organic Growth Profile 19 Segment Growth Profiles 1 Risk & Broking: MSD to HSD CRB: MSD - to - HSD ICT: MSD - to - HSD Health, Wealth & Career: MSD Health: HSD Wealth: LSD Career: MSD BD&O: MSD 1 “HSD” High - Single Digits; “MSD” Mid - Single Digits; “LSD” Low - Single Digits
Slide 20: Adjusted Operating Margin Outlook
wtwco.com wtwco.com 20 Enhancing efficiency is a priority across the company Adjusted Operating Margin Outlook • Leveraging benefits from Transformation program to drive continued efficiencies and operating leverage, coupled with WE DO efforts to further streamline processes • Offshoring and right s
Slide 21: Free Cash Flow Outlook
wtwco.com wtwco.com 21 Free Cash Flow Outlook Evolving business mix Operating margin expansion Working capital management 1 Signifies Non - GAAP financial measures. See Appendix I for Non - GAAP reconciliations. 2024 FCF margin was 12.8% on a recast basis. See Appendix II for recast of historical No
Slide 22: Capital Allocation Strategy - Driving Growth, Margin and Returns
wtwco.com wtwco.com Rebalancing capital allocation strategy to reflect successful transformation and continued pursuit of a higher growth portfolio and margin expansion 22 Capital Allocation Strategy - Driving Growth, Margin and Returns Ongoing organic investments in talent, technology, and new prod
Slide 23: Select 2025 Financial Considerations
wtwco.com wtwco.com 23 Select 2025 Financial Considerations © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentatio
Slide 24: Appendix I: Reconciliation of Non-GAAP Measures
wtwco.com Appendix I: Reconciliation of Non - GAAP Measures © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentatio
Slide 25: Constant Currency and Organic Revenue Change
wtwco.com Constant Currency and Organic Revenue Change © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. As
Slide 26: Adjusted Op Income and Margin, Adj. EBITDA and Margin
wtwco.com © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. Adjusted Op Income and Margin, Adj. EBITDA and
Slide 27: Adjusted Net Income and Adjusted Diluted EPS
wtwco.com Adjusted Net Income and Adjusted Diluted EPS © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. As
Slide 28: Adjusted Income Before Taxes, Adjusted Income Tax Rate and Free Cash Flow
wtwco.com Adjusted Income Before Taxes, Adjusted Income Tax Rate and Free Cash Flow As reported, USD millions except % © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual result
Slide 29: Appendix II: Recast of Historical Non-GAAP Measures
wtwco.com Appendix II: Recast of Historical Non - GAAP Measures © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide present
Slide 30: Historical Recast - Adjusted EBITDA and Margin
wtwco.com Historical Recast - Adjusted EBITDA and Margin © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation.
Slide 31: Historical Recast - Adjusted Net Income and Adjusted Diluted EPS
wtwco.com Historical Recast - Adjusted Net Income and Adjusted Diluted EPS © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the sl
Slide 32: Historical Recast - Adjusted Income Tax Rate
wtwco.com Historical Recast - Adjusted Income Tax Rate © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. 32
Slide 33: Historical Recast - Free Cash Flow
wtwco.com Historical Recast – Free Cash Flow © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. 33 2024 2023
Slide 34: Appendix III: TRANZACT Standalone Historical Financial Results
wtwco.com Appendix III: TRANZACT Standalone Historical Financial Results © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slid
Slide 35: TRANZACT Standalone Historical Financial Results
wtwco.com TRANZACT Standalone Historical Financial Results © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation
Slide 36: About WTW
wtwco.com © 2025 WTW. All rights reserved. See “WTW Forward - Looking Statements“ above for information about forward - looking statements and cautionary language, including how actual results may differ materially from those in the slide presentation. About WTW At WTW (NASDAQ: WTW), we provide data