Jones Lang LaSalle has reported that its full-year revenue for the EMEA region in 2009 came to $644 mln, compared with $871 mln the year before. This is a decrease of 26%, or 20% in local currency. JLL said the decreases were driven by continued reductions in transaction volumes across the region. EMEA's fourth-quarter revenue was $226 mln, compared with $243 mln for the fourth quarter of 2008, a reduction of 7%, or 14% in local currency.
Jones Lang LaSalle has reported that its full-year revenue for the EMEA region in 2009 came to $644 mln, compared with $871 mln the year before. This is a decrease of 26%, or 20% in local currency. JLL said the decreases were driven by continued reductions in transaction volumes across the region. EMEA's fourth-quarter revenue was $226 mln, compared with $243 mln for the fourth quarter of 2008, a reduction of 7%, or 14% in local currency.
Capital Markets revenue was $39 mln in the fourth quarter and $107 mln for the full year of 2009, down 38% and 41% in local currency, respectively. Leasing revenue was $70 mln for the fourth quarter and $173 mln for full-year 2009, down 12% and 25% in local currency, respectively.
The EMEA results varied across the region, reflecting significant market declines in Russia, MENA and Germany and stable-to-improving markets in France and the UK. Property & Facility Management revenue was $44 mln in the fourth quarter, an increase of 8% in local currency, and $136 mn for the full year, up 7% in local currency, as the firm continued to drive annuity-like revenue growth.
Operating expenses were $210 mln in the fourth quarter, a decrease of 5%, 12% in local currency. Operating expenses were $653 mln for the year, a decrease of 23%, 15% in local currency. Cost reductions were the result of the aggressive, targeted cost management actions taken across the region, JLL said.
The region's fourth-quarter EBITDA was $22 mln compared with $28 mln in the prior year. Full-year EBITDA was $11 mln compared with $50 mln in 2008.
Across its global platform, JLL net income of $52 mln on a US GAAP basis, or $1.19 per share, for the fourth quarter, compared with $41 mln, or $1.17 per share, for the same period in 2008.
The net loss for the year to end-December 2009 was $4 mln, or $0.11 per share, compared with net income of $84 mln, or $2.44 per share, for the year ended 31 December 2008.