Jones Lang LaSalle (JLL) 8-K Jones Lang LaSalle Reports Second-Quarter 2010 Net Income of $32 Million

Supplemental Information 

Second Quarter          Earnings Call

2010

EXHIBIT 99.2

Market & Financial Overview

London,

Washington DC

Seoul, Singapore, Toronto

Detroit, Shanghai

Beijing

Capital Value

growth slowing

Capital Value

growth

accelerating

Capital Value

bottoming out

Capital Value

falling

Americas

EMEA

Asia Pacific

Hong Kong

Detroit

Amsterdam, Brussels,

Dallas, Mumbai,

Philadelphia,

Stockholm, Tokyo

Shanghai

Capital Values

Q2 2009

Q2 2010

Capital Value

growth slowing

Capital Value

falling

Capital Value

growth

accelerating

Capital Value

bottoming out

Sydney

Singapore

As of Q2 2010

The Jones Lang LaSalle Property Clocks

SM

Dallas, Moscow

Chicago, Brussels,

Philadelphia, Tokyo

Berlin, Milan,

Mumbai,

Stockholm

Amsterdam, Paris,

New York, San Francisco,

Toronto

London, Washington DC

Milan, Sydney

Moscow,

New York, Sao Paulo

Chicago, San Francisco

Beijing, Hong Kong,

Sao Paulo, Seoul

Berlin,

Paris

3

Beijing, Paris

Rental growth

slowing

Rental growth

falling

Rental

growth

accelerating

Rents

bottoming

out

Americas

EMEA

Asia Pacific

Leasing Market Fundamentals

Q2 2009

London, Moscow

Amsterdam, Dallas,

Milan, Washington DC

Atlanta, Chicago, Los Angeles,

New York, San Francisco

Mumbai

Hong Kong,

Tokyo

Seoul,

Toronto

Paris, Shanghai

Q2 2010

Hong Kong

Shanghai

Washington DC

Dallas, Rome, Seoul

Rental growth

slowing

Rental growth

falling

Rental

growth

accelerating

Rents

bottoming

out

Detroit

Atlanta, Chicago,

Los Angeles, New York

As of Q2 2010

The Jones Lang LaSalle Property Clocks

SM

Berlin, Detroit, Sydney

Beijing,

Stockholm,

Singapore

Stockholm, Tokyo

Brussels, Milan

Amsterdam, San Francisco

Berlin, Moscow,

Mumbai,

Sydney

London,

Singapore

4

Demonstrating Competitive Strength

5

•

Protect

and

grow

market

share

–

Add

and

upgrade

market

talent;

grow

new

service

lines

–

retail,

industrial,

healthcare

–

Stabilize

loss-making

businesses

–

Q2

profitability

in

Russia

–

Client

consolidations

&

portfolios

repositioning

–

Q2

Leasing

revenue

is

up

30%

in

local

currency

•

Improve

operating

income

margins

and

maintain

cost

discipline

–

Adjusted

operating

income

margin

of

9.0%

in

Q2;

6.4%

YTD

–

Compensation

as

a

%

of

revenue

is

64.4%

in

Q2;

65.5%

YTD

–

Increase

professional

productivity

•

Continue

to

build

annuity

revenue

–

Expand

corporate

outsourcing

leadership

–

24

new

wins,

expansions

and

renewals

–

Property

&

Facility

Management

reaches

29%

of

YTD

IOS

revenue

•

LaSalle

Investment

Management:

leverage

global

scale

and

market

reputation

–

$700

million

of

takeovers

in

Q2;

more

than

$4.3

billion

net

new

capital

commitments

YTD

–

Positioned

for

opportunities

in

new

legislative

environment

•

Maintain

strong

financial

position

–

Net

debt

reduced

$134

million

since

June

30,

2009

–

Leverage

ratio

at

1.90x

Achieving Results on 2010 Priorities

Americas

Citi 28M sf

International Paper 18M sf

Evening Star Building, Washington D.C. $180M

Mission City Corporate Center, San Diego $71M

Intercontinental Buckhead, Atlanta $105M

ICF International, Vienna, VA 260k sf

Walmart.com, San Bruno, CA 266k sf

Novelis, Atlanta, GA 100k sf

Asia Pacific

RBS 2.5M sf

UTSTARCOM, Hangzhou, China $140M

Hilton Niseko Village, Hokkaido, Japan ¥6B

Sofitel Wentworth, Sydney AUD 130M

Eugene Investment & Securities Building, Seoul $149M

ANZ Bank, Singapore 200k sf

Permata Bank, Indonesia 194k sf

EMEA

Shell

IZD Tower, Vienna €212M

Condor House, London £104M

Espace Saint-Quentin, Paris €175M

Canary Wharf Group, London 186k sf

Laboratoire Roche, Paris 168k sf

Q2 Selected Business Wins and Expansions

6

Second Quarter Financial Information

8

Q2 2010 Revenue Performance

Note: Equity losses of $19.2M and $2.8M in 2009 and 2010, respectively, are included in segment results, however, are excluded

from Consolidated totals.

Americas

EMEA

Asia Pacific

LIM

$248.6

$295.5

2009

2010

18%

$142.9

$170.7

2009

2010

26%

$119.3

$154.7

2009

2010

21%

$56.6

$46.1

2009

2010

22%

Consolidated

$576.1

$680.3

2009

2010

18%

($ in millions; % change in local currency )

Asia Pacific

9

Q2 2010 Investor and Occupier Services Revenue

Note: % reflects change in local currency terms over Q2 2009.

($ in millions; % change in local currency )

Americas

EMEA

Leasing

Capital Markets &

Hotels

Property & Facility

Management

Project &

Development Services

Advisory, Consulting

& Other

Total IOS

Operating Revenue

$151.4

$14.3

$62.0

$38.5

$29.3

$295.5

25%

138%

21%

6%

0%

18%

$46.8

$32.0

$35.2

$27.6

$29.1

$170.7

36%

50%

27%

13%

5%

26%

$36.4

$17.1

$70.9

$14.7

$15.6

$154.7

46%

56%

5%

43%

1%

20%

$234.6

$63.4

$168.1

$80.8

$74.0

$620.9

30%

65%

15%

7%

2%

21%

Total IOS

Revenue

10

YTD 2010 Revenue Performance

Note: Equity losses of $51.3M and $8.9M in 2009 and 2010, respectively, are included in segment results, however, are excluded

from Consolidated totals.

($ in millions; % change in local currency

)

Americas

EMEA

Asia Pacific

LIM

$448.2

$523.9

2009

2010

16%

$263.6

$322.2

2009

2010

22%

$224.1

$290.3

2009

2010

18%

$115.7

$83.2

2009

2010

34%

Consolidated

$1,070.4

$1,261.0

2009

2010

15%

Asia Pacific

11

YTD 2010 Investor and Occupier Services Revenue

Note: % reflects change in local currency terms over YTD Q2 2009.

($ in millions; % change in local currency )

Americas

EMEA

Leasing

Capital Markets &

Hotels

Property & Facility

Management

Project &

Development Services

Advisory, Consulting

& Other

Total IOS

Operating Revenue

$257.6

$23.8

$120.2

$70.1

$52.0

$523.7

22%

73%

26%

12%

2%

16%

$85.5

$58.2

$69.7

$53.6

$55.2

$322.2

30%

52%

16%

13%

3%

22%

$61.9

$33.7

$138.8

$25.4

$30.5

$290.3

40%

96%

2%

14%

8%

17%

$405.0

$115.7

$328.7

$149.1

$137.7

$1,136.2

26%

67%

13%

0%

4%

18%

Total IOS

Revenue

$3.4

$10.4

$56.0

$114.4

Q2 2010

YTD 2010

Advisory Fees

Transaction & Incentive Fees

12

2010 LaSalle Investment Management

Note: % reflects change in local currency terms over comparable period in the prior year.

($ in millions; % change in local currency )

Separate Account

Management

(Firm’s co-investment =

$22.7M)

•

$16.8 billion of assets

under management

(1% decline from 2009)

(1)

AUM data reported on a one quarter lag

Fund Management

(Firm’s co-investment =

$140.6M)

•

$13.9 billion of assets

under management

(14% decline from 2009)

Public Securities

(Firm’s co-investment =

$0.1M)

•

$7.6 billion of assets

under management

(145% growth over 2009)

Q2 2010 Statistics

(1)

Q2 2010

YTD 2010

New Separate Accounts Mandates

$700

$3,700

Net New Equity for Funds and Public Securities

200

600

Net New Capital Commitments

$900

$4,300

Total AUM

$38.3 billion

Operating Revenue

7%

7%

Cash

$55

$44

Short Term Borrowings

64

40

Credit Facilities

268

398

Net Bank Debt

$277

$394

Deferred Business Obligations

371

388

Total Net Debt

$648

$782

Solid Balance Sheet Position

Continued focus on debt repayment with selective investments

(1)

YTD Capital Expenditures for 2010 and 2009 net of tenant improvement allowances received were $12 million and $16 million, respectively.

13

Q2 2010

Q2 2009

•

Total net debt reduced by $134 million

since June 30, 2009

•

Strong cash from earnings

•

Cash interest expense of $5.2 million,

down 28% from Q2 2009 expense of

$7.2 million

•

Leverage ratio of 1.90x, well below

covenant maximum (3.75x)

•

Investment grade rated

Standard & Poor’s:

BBB-

(Outlook: Stable)

Moody’s Investor Services:

Baa2

(Outlook: Stable)

Q2 2010 Highlights

Cash from Earnings

$120

$71

Working Capital

(200)

(157)

Cash used in Operations

($80)

($86)

Primary Uses

Capital Expenses

(1)

(14)

(21)

Acquisitions & Deferred Payment Obligations

(33)

(10)

Co-Investment

(11)

(19)

Dividends

(4)

(4)

Net Cash Outflows

($62)

($54)

Net Share Issuance & Other Financing

(5)

209

Net Debt (Borrowings) / Repayments

($147)

$69

Q2 YTD 2010

Q2 YTD 2009

Appendix

15

Q2 2010 Adjusted EBITDA* Performance

Americas

EMEA

Asia Pacific

LIM

$31.2

$41.3

2009

2010

$5.1

$10.2

2009

2010

$5.7

$14.2

2009

2010

$12.6

$7.8

2009

2010

Consolidated

$49.3

$78.0

2009

2010

*

Refer

to

slide

18

for

Reconciliation

of

GAAP

Net

Income

(Loss)

to

EBITDA

and

adjusted

EBITDA

for

the

three

months

ended

June

30,

2010,

and

2009,

for

details

relative

to

these

adjusted

EBITDA

calculations.

Segment

adjusted

EBITDA

is

calculated

by

adding

the

segment’s

Depreciation

and

amortization

and

non-cash

co-investment

charges

to

its

reported

Operating

income

(loss),

which

excludes

Restructuring

charges.

Consolidated

adjusted

EBITDA

is

the

sum

of

the

adjusted

EBITDA

of

the

four

segments

less

net

income

attributable

to

non-controlling

interests

and

dividends

on

unvested

common

stock.

($ in millions)

16

YTD 2010 Adjusted EBITDA* Performance

Americas

EMEA

Asia Pacific

LIM

$42.6

$59.3

2009

2010

($10.8)

$5.3

2009

2010

$5.0

$22.8

2009

2010

$28.1

$23.8

2009

2010

Consolidated

$60.2

$115.0

2009

2010

*

Refer

to

slide

18

for

Reconciliation

of

GAAP

Net

Income

(Loss)

to

EBITDA

and

adjusted

EBITDA

for

the

six

months

ended

June

30,

2010,

and

2009,

for

details

relative

to

these

adjusted

EBITDA

calculations.

Segment

adjusted

EBITDA

is

calculated

by

adding

the

segment’s

Depreciation

and

amortization

and

non-cash

co-investment

charges

to

its

reported

Operating

income

(loss),

which

excludes

Restructuring

charges.

Consolidated

adjusted

EBITDA

is

the

sum

of

the

adjusted

EBITDA

of

the

four

segments

less

net

income

attributable

to

non-controlling

interests

and

dividends

on

unvested

common

stock.

($ in millions)

17

($ in millions)

Reconciliation of GAAP Net Income (Loss) to

Adjusted Net Income

Note:

Basic

shares

outstanding

are

used

in

the

calculations

of

GAAP

EPS

for

the

three

and

six

months

ending

June

30,

2009,

and

in

the

calculation

of

adjusted

EPS

for

the

six

months

ended

June

30,

2009,

as

the

use

of

dilutive

shares

outstanding

would

cause

those

EPS

calculations

to

be

anti-dilutive.

2010

2009

2010

2009

GAAP net income (loss)

31.8

$      

(14.4)

$     

32.0

$      

(75.9)

$     

Shares (in 000's)

44,250

35,836

44,085

35,231

GAAP earnings (loss) per share

0.72

$      

(0.40)

$     

0.73

$      

(2.15)

$     

GAAP net income (loss)

31.8

$      

(14.4)

$     

32.0

$      

(75.9)

$     

Restructuring, net of tax

3.1

13.1

3.9

27.6

Non-cash co-investment charges, net of tax

1.7

12.7

6.7

37.2

Adjusted net income (loss)

36.6

$      

11.4

$      

42.6

$      

(11.1)

$     

Shares (in 000's)

44,250

37,652

44,085

35,231

Adjusted earnings (loss) per share

0.83

$      

0.30

$      

0.97

$      

(0.31)

$     

Three Months Ended

June 30,

Six Months Ended

June 30,

18

($ in millions)

Reconciliation of GAAP Net Income (Loss) to

EBITDA and Adjusted EBITDA

2010

2009

2010

2009

Net income (loss)

31.8

$      

(14.4)

$     

32.0

$      

(75.9)

$     

Interest expense, net of interest income

12.9

14.5

24.3

27.3

Provision (benefit) for income taxes

9.6

(2.5)

9.7

(13.3)

Depreciation and amortization

17.5

21.4

35.2

45.9

EBITDA

71.8

$      

19.0

$      

101.2

$     

(16.0)

$     

Non-cash co-investment charges

2.2

14.9

8.7

43.8

Restructuring

4.0

15.4

5.1

32.4

Adjusted EBITDA

78.0

$      

49.3

$      

115.0

$     

60.2

$      

Three Months Ended

June 30,

June 30,

Six Months Ended