JLL reports record revenue

By James Buckley - Wednesday, February 07, 2018 14:53

JLL today reported full-year revenue of $2.6bn for the EMEA region, buoyed by strong capital markets and hotels performance in the UK, Germany and Switzerland.

JLL saw record full-year revenue for the overall group, at $7.9bn and fourth-quarter revenue of $2.5 billion, both up 17%.

EMEA revenue was up 25% on last year and was also driven by the August 2016 acquisition of Integral UK.

For the fourth quarter, revenue was $858.9m across EMEA and fee revenue was $669.6m, both reflecting increases of 13% from the fourth quarter of 2016.

For the year, EMEA operating expenses increased 28% to $2.5bn, and fee-based operating expenses, excluding restructuring and acquisition charges, increased 32% to $1.9bn,

compared with 2016. Integral drove 65% of the increase to fee-based operating expenses with the balance attributable to revenue growth and continued increases to investments in data, technology and people.

“Outstanding fourth-quarter 2017 performance contributed to record revenue and strong adjusted EBITDA and cash flows for the year,” said Christian Ulbrich, JLL CEO. "We achieved these results while making significant progress in 2017 on our ambitious data and technology agenda. With favourable economic conditions and healthy real estate fundamentals in most markets, we anticipate continued growth in 2018.”

jbuckley@costar.co.uk

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