JLL reports strong first-quarter 2021 results

CHICAGO, May 5, 2021 — Jones Lang LaSalle Incorporated (NYSE: JLL) today reported operating performance for the first quarter of 2021.

• Consolidated revenue was $4.0 billion and fee revenue1 was $1.4 billion, decreases of 4% and 7%, respectively
  • Transaction-based service lines reflected improving economic conditions, highlighted by outstanding rebound in Asia Pacific
  • Property & Facility Management growth led by continued strength of Americas Corporate Solutions
• Overall margin expansion included
  • Valuation increases to JLL Technologies' strategic proptech investments
  • Year-over-year changes in loan loss credit reserves and the fair value of LaSalle's co-investment portfolio
  • Cost mitigation benefits partially offsetting pandemic's impact to revenue
• Credit Facility maturity extended to 2026; sustainability commitments incorporated into Facility pricing

"Our strong first-quarter results demonstrated JLL's commitment to delivering value to stakeholders across our global, scaled platform and reflected our investments in technology growth initiatives while prudently managing expenses," said Christian Ulbrich, JLL CEO. "While the pandemic continues to cause global disruption, we are encouraged by promising economic signs that indicate 2021 can be a year of strong recovery. More than ever, ‘One JLL,’ which brings together all our global service capabilities, puts us at a competitive advantage as we advise our clients on transitioning to a post-pandemic environment."