Jones Lang LaSalle (JLL) has announced that its net income for the year ended 31 December, 2010 rose to $154 million on a US GAAP basis or $3.48 per share, against a net loss of $4 million or $0.11 per share for the same period last year.
The company’s revenue reached a record high of $2.9 billion, up 18 percent from 2009, while adjusted earnings before interest, taxes, depreciation and amortisation (adjusted EBITDA) hit $337 million in 2010.
For the fourth quarter ended 31 December, 2010, JLL saw a net income of $84 million on a US GAAP basis or $1.91 per share, against $52 million or $1.19 per share over Q4 2009.
Revenue for Q4 2010 stood at $956 million, up 17 percent from $815 million over the same period last year. Meanwhile, adjusted EBITDA in Q4 2010 hit $143 million.
“Our strong fourth quarter and full-year results were achieved with activity from all our regions, as well as LaSalle Investment Management,” said Colin Dyer, CEO of JLL. “As markets continue to recover, we are working to take additional market share and maintain good growth momentum into 2011,” he added.
The company reduced its net debt position by $250 million in 2010, which include a reduction in net bank debt of $155 million and a reduction in deferred acquisition obligations of $95 million. As of 31 December, 2010, the company’s total net debt position stood at $273 million.
For the Americas region, full-year revenue reached almost $1.3 billion, up 22 percent over the previous year. The increase was attributed to the increased transactional activities both in Capital Markets and Hotels, and Leasing.
EMEA’s full-year revenue also rose 13 percent to $729 million in 2010 from $644 million in 2009, while full-year revenue in the Asia Pacific region jumped 26 percent to $679 million.