| Item | Q3 2015 result ($m) | % rise from Q3 2014 (US dollars) |
|---|---|---|
| EMEA profit | 39.6 | 96 |
| EMEA revenue | 738 | 28 |
| EMEA fee revenue | 458 | 16 |
| Global revenue | 2.7bn | 19 |
CBRE’s European business has posted a 96% rise in profits in dollar terms for the third quarter to $39.6m (£25.9m), the fastest growth of any of its business regions.
The European business also delivered revenue growth of 28% in dollar terms or 42% in local currency over the quarter compared with the Q3 2014 total. In total EMEA revenues were $738m.
Of the total revenue European stream, fees accounted for $458m of the total, up by 16% on the Q3 2014 total.
For the full nine months to the end of September Europe generated a total of $64m in profit for the global business, up by 71% from $37m in the same period of 2014.
The company’s global revenue increased by 19% in dollar terms from the Q3 2014 total to $2.7bn, of which fee revenue was $1.9bn.
All regions and business contributed to a $149m net income for the business over the quarter, up from $109m, and helped push the nine-month total to more than $376m.
CBRE’s Global Investment Management business generated $114m of revenue over the quarter, taking its nine-month total to more than $318m.
Martin Samworth, chief executive EMEA at CBRE, said: “The third quarter was an excellent one for CBRE in EMEA, delivering material gains in both revenue and EBITDA in dollars and local currency. Our growth was driven by region-wide successes across all business lines, most notably in capital markets, our occupier outsourcing business, and hotels, with core markets such as Germany, Spain, France and the UK performing strongly.
“These results demonstrate the benefit of the breadth of service and insight we are able to offer our clients across the region. Our recent acquisition of global workspace solutions now also adds an important international facilities management dimension to our capability and we enter the fourth quarter with good momentum.”
