JLL 2015 in Review

Financial highlights

Ten-year track record

Fee Revenues
Adjusted Operating Income
Market Cap

Note: All amounts in $ millions. 2005 & 2015 market cap based on year-end share price in the year.

  • Long history of profitable growth
    • Achieved Fortune 500 status
    • 10-year compound annual fee revenue growth = 14%
    • Growth = 70% organic and 30% from M&A
  • Investment-grade financial strength for future growth
    • Ratings: S&P BBB+ (stable outlook) and Moody’s Baa2 (positive outlook)
  • ~ 90 acquisitions
    • Approximately $2.5B of M&A contributing to margin accretion, market share expansion and profitable growth
  • Experienced leadership creates value for clients and shareholders
    • Seven-member Global Executive Board with combined 100+ years of experience
  • LaSalle Investment Management grew assets under management to $56.4B while delivering strong client returns


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).

2014 Stock Prices
2015 Stock Prices

1 Fee Revenue is total revenue excluding vendor and subcontractor 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 restructuring and acquisition charges of $34.1 million, $42.5 million and $1.4 million for the years ended December 31, 2015, 2014 and 2005, 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 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 restructuring and acquisition charges of $16.1 million, $6.0 million and $1.0 million for the years ended December 31, 2015, 2014 and 2005, 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.