| Item | Q1 2016 result ($m) | % change year on year |
|---|---|---|
| EMEA fee revenue | 447 | 38 |
| US fee revenue | 1bn | 29 |
| Asia fee revenue | 193 | 28 |
| EMEA profit | 15 | -16 |
| Group revenue | 2.8bn | 39 |
| EBITDA | 252.6 | 3 |
CBRE has posted a Q1 year-on-year rise of 72% in revenue for its European division despite a dip in EBITDA caused by currency fluctuations.
First-quarter EMEA fee revenue rose by 38% to $447m (£307m) year on year.
The Netherlands, Spain and the UK were the key markets for the growth over the quarter, said the company.
US fee revenue climbed by 29% to $1bn and Asia revenue was up 28% to just under $193m.
EMEA Q1 profits fell by 16% in the first quarter to just over $15m, but the company said that without the effect of currency hedging losses, the group would have seen gains of 25% in its earnings per share.
Sales growth in the Netherlands and Spain over the period fuelled a 4% year-on-year growth in property sales activity across the EMEA division. UK leasing activity over the period was 7% up on the previous year.
Once again the occupier outsourcing business was the best-performing unit, with Q1 fee revenues increasing by 11% in dollar terms year on year.
The company as a whole made a Q1 revenue of $2.8bn, up 39% year-on-year, while EBITDA were up by 3% to $252.6m.
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