JLL 2014 in Review

Financial highlights

 

Ten-year track record

Fee Revenues
Adjusted Operating Income
Market Cap

Note: All amounts in $ millions. 2004 market cap based on peak share price in the year. Current market cap based on February 2015 share price.

  • Long history of profitable revenue growth
    • 10-year compound annual revenue growth = 17%; 80% organic and 20% from M&A
    • 60+ mergers and acquisitions
  • Success through Global Financial Crisis by adapting to market cycles and capturing market share
  • Investment-grade financial strength maintained for future growth
  • Experienced executive leadership creates value for clients and shareholders
    • Six-member Global Executive Board with combined 90-year tenure
    • 300+ International Directors drive growth and provide deep leadership

Stock Prices

The following table sets forth the high and low daily closing prices of our common stock as reported on the New York Stock Exchange and dividends paid by quarter (shown in the 2Q and 4Q bars).

2013 Stock Prices
2014 Stock Prices

1 Fee Revenue is total revenue excluding vendor and subcontract costs that are included in both revenue and expense. We believe that excluding gross contract costs from revenue gives a more accurate picture of our revenue growth.

2 Adjusted Operating Income includes adjustments to Operating Income, calculated in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”), to exclude the impact of 1) restructuring and acquisition charges of $42.5 million, $18.3 million and $2.6 million, and 2) King Sturge intangible amortization of $2.0 million, $2.2 million and zero, for the years ended December 31, 2014, 2013 and 2004, respectively. Adjusted EBITDA includes adjustments to U.S. GAAP EBITDA for the restructuring and acquisitions charges noted above. We believe that excluding these items gives a more meaningful year-over-year comparison. Please see the accompanying Form 10-K for additional information.

3 Market Cap for 2004 is based on the peak share price in the year.

4 Adjusted Net Income and Adjusted EPS (earnings per diluted average share) include adjustments to Net Income and EPS, calculated in accordance with U.S. GAAP, to exclude the impact of 1) restructuring and acquisition charges of $6.0 million, $13.7 million and $2.0 million, and 2) King Sturge intangible amortization of $1.5 million, $1.6 million, and zero, for the years ended December 31, 2014, 2013 and 2004, respectively. We believe that excluding these items gives a more meaningful year-over-year comparison. Please see the accompanying Form 10-K for additional information.

To download the full annual report, click here.