CHICAGO, August 6, 2019 — Jones Lang LaSalle Incorporated (NYSE: JLL) today reported operating performance for the second quarter of 2019 with diluted earnings per share of $2.40 and adjusted diluted EPS1 of $2.94.
- Record Real Estate Services revenue and fee revenue up 9% (11% local currency) and 7% (10% local currency), respectively
- Americas Leasing exceptional performance continued
- Corporate Solutions growth across all geographies strengthened annuity base
- Capital Markets investment sales outperformed decline in market volumes
- Margin increase reflected LaSalle contribution and continued expansion in Real Estate Services
- Record LaSalle AUM $68.4B drove excellent advisory fee performance
- Transformative HFF acquisition completed on July 1
“Once again we have grown revenue and expanded margins to deliver record results, with notable contribution from LaSalle and continued expansion in our Real Estate Services business," said Christian Ulbrich, JLL CEO. "Looking forward, we see strong pipelines contributing to another highly successful year for JLL.”
Asia Pacific Second-Quarter 2019 Performance Highlights:
Asia Pacific healthy growth in revenue and fee revenue across all services lines was highlighted by a double-digit increase in Leasing, primarily office and industrial sectors, and notable growth in Property & Facility Management, primarily due to expansion of existing client mandates and new client wins for Corporate Solutions.
Adjusted EBITDA margin, calculated on a fee-revenue basis, was 12.8% in USD for the quarter (12.9% in local currency), compared with 12.0% in 2018. The 21% increase in segment operating income and 90 basis point margin expansion reflected the growth in transactional revenue together with continued cost discipline, which more than offset incremental investments in platform and client-facing technology.
