JLL Reports Record Fourth-Quarter And Full-Year 2019 Results
NEW ZEALAND, 14 February 2020 – Jones Lang LaSalle Incorporated (NYSE: JLL) has reported outstanding operating performance for the fourth quarter and full year of 2019.
- Record global consolidated revenue and fee revenue of NZD$8.37 billion and NZD$3.72 billion for the quarter, representing double-digit increases over last year
- LaSalle advisory fees grew nearly 30% reflecting continued capital raising momentum
- Operating cash flows drove over NZD$930 million in debt repayment in quarter
- Total revenue for the year rose 12% to over NZD$27.9 billion, while fee revenue was also up 12% at NZD$11 billion
- For the fourth quarter, total revenue rose 11%, with fee revenue climbing 13% compared with Q4 2018
- Adjusted EBITDA for the year grew 18% to NZD$1.71 billion.
JLL New Zealand Managing Director Todd Lauchlan says the global company results underline the broad-based strength and sustained growth potential in JLL, despite uneven market conditions around the world.
“JLL New Zealand continues to record strong growth, finishing the 2019 calendar year with revenues tracking ahead of 2018 levels. It was a year of transformation for our business with an enhanced focus on our clients and several new key senior appointments to lead our new direction. This is in conjunction with a record year for our Valuations & Advisory business,” says Lauchlan.
“Strong demand for JLL’s strategic advice in the area of valuations, research and consulting demonstrates that investors are wanting to invest and navigate the New Zealand property cycle. We enter 2020 with optimism and confidence in our ability to continue to take market share and capitalise on long-term growth opportunities."