News

JLL toasts double-digit revenue growth

News

Samantha McClary

06 November 2024

Investment/finance

Double-digit revenue growth, coupled with ongoing cost discipline has driven a 37% increase in EBITDA for JLL in the three months ended 30 September.

The agent reported revenue of nearly $5.9bn (£4.6bn) in Q3, up by 15% on the same period last year. Revenue during the first nine months of the year totalled $16.2bn, up from $14.8bn in 2023.

The firm’s Work Dynamics, markets advisory and capital markets divisions drove growth, with Q3 revenue up by 16%, 15% and 14% respectively.

For the year to date, Work Dynamics has turned over $11.6bn, up from $10.2bn in 2023, capital markets delivered $1.3bn of earnings, up from $1.2bn and markets advisory just less than $3.2bn, up from $2.9bn last year.

JLL said that its broad-based increase in markets advisory revenue was primarily driven by leasing and was led by the office sector. Most geographies achieved double-digit growth, said the agent, most notably in the US, India, UK, Australia and Greater China.

“JLL achieved strong third-quarter revenue and profit growth fuelled by continued high demand for our outsourcing services and an acceleration in transactional activity,” said chief executive Christian Ulbrich.

“Amid a dynamic macro backdrop, our combination of data insights, talented people, and investments in our platform and technology is enhancing the way we work, delivering innovative capabilities our clients value.

He added: “We are excited by significant opportunities in front of us and expect to continue to capitalise on them, driving meaningful and increasingly resilient top and bottom-line growth, financial returns, and cash flow generation.”

The firm’s tech business – JLL Technologies – and investment management business – LaSalle – both reported declining revenues in Q3. JLL Technologies revenues were down by 4% to $57m, with LaSalle recording an 8% decline in income to $101m.

JLL said that the technology segment’s income had been impacted by lower contract signings for service offerings, while was down due to declines in assets under management and lower fees in Europe.

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JLL

Double-digit revenue growth, coupled with ongoing cost discipline has driven a 37% increase in EBITDA for JLL in the three months ended 30 September. The agent reported revenue of nearly $5.9bn (£4.6bn) in Q3, up by 15% on the same period last year. Revenue during the first nine months of the year totalled $16.2bn, up from $14.8bn in 2023. The firm’s Work Dynamics, markets advisory and capital markets divisions drove growth, with Q3 revenue up by 16%, 15% and 14% respectively. For the year to date, Work Dynamics has turned over $11.6bn, up from $10.2bn in 2023, capital markets delivered $1.3bn of earnings, up from $1.2bn and markets advisory just less than $3.2bn, up from $2.9bn last year. JLL said that its broad-based increase in markets advisory revenue was primarily driven by leasing and was led by the office sector. Most geographies achieved double-digit growth, said the agent, most notably in the US, India, UK, Australia and Greater China. “JLL achieved strong third-quarter revenue and profit growth fuelled by continued high demand for our outsourcing services and an acceleration in transactional activity,” said chief executive Christian Ulbrich. “Amid a dynamic macro backdrop, our combination of data insights, talented people, and investments in our platform and technology is enhancing the way we work, delivering innovative capabilities our clients value. He added: “We are excited by significant opportunities in front of us and expect to continue to capitalise on them, driving meaningful and increasingly resilient top and bottom-line growth, financial returns, and cash flow generation.” The firm’s tech business – JLL Technologies – and investment management business – LaSalle – both reported declining revenues in Q3. JLL Technologies revenues were down by 4% to $57m, with LaSalle recording an 8% decline in income to $101m. JLL said that the technology segment’s income had been impacted by lower contract signings for service offerings, while was down due to declines in assets under management and lower fees in Europe.