EXHIBIT 99.1
- ------------
JONES LANG LASALLE - PAGE - 1:
JONES LANG LASALLE
JUNE 2002
[ Jones Lang LaSalle Logo ]
JONES LANG LASALLE - PAGE - 2:
OUR MISSION
"TO DELIVER EXCEPTIONAL STRATEGIC, FULLY INTEGRATED SERVICES
AND
SOLUTIONS FOR REAL ESTATE OWNERS, OCCUPIERS AND INVESTORS
WORLDWIDE"
JONES LANG LASALLE - PAGE - 3:
AGENDA
COMPANY OVERVIEW
- Peter Roberts - Chief Operating Officer
DRIVING FINANCIAL PERFORMANCE
- Lauralee Martin - Chief Financial Officer
JONES LANG LASALLE - PAGE - 4:
COMPANY OVERVIEW
JONES LANG LASALLE - PAGE - 5:
BUILDING A GLOBAL PLATFORM
1783 Jones Lang Wootton founded
Partnership ultimately operatingin Europe and Asia Pacific
1968 LaSalle Partners founded
Partnership operating primarilyin the Americas
1997 LaSalle Partners initial public offering
Currency created for geographic and product expansion
1998 LaSalle Partners acquires Compass Management & Leasing
LaSalle Partners becomes largest property manager in U.S.
1999 LaSalle Partners and Jones Lang Woottonmerge to create
Jones Lang LaSalle
Integrated Global Platform (NYSE ticker "JLL")
JONES LANG LASALLE - PAGE - 6:
CLIENT SERVICE MODEL
[ Graphic indicating - Owners & Occupiers and Investors encircling and
indicating - ]
Strategic Solutions - through
Research Global Capabilities
Technology Innovation
CORPORATE SOLUTIONS INVESTOR SERVICES
- Space Acquisition - Buying & Selling
- Space Disposition - Leasing
- Facilities Management - Property Management
- Project & Development - Project & Development
Services Services
- Consulting - Consulting
CAPITAL MARKETS INVESTMENT MANAGEMENT
- Acquisitions & Dispositions - Investment Strategy
- Corporate Finance - Private & Public
- Financial Restructuring Markets
- Sale & Leaseback - Direct & Indirect
- Debt & Equity Raising Investment
- Partnering - Income Growth &
Opportunistic
Programs
JONES LANG LASALLE - PAGE - 7:
DIVERSIFIED REVENUE SOURCES
[ Graphic / Pie Charts indicating ]
2001
BUSINESS UNIT SPREAD
--------------------
IMPLEMENTATION SERVICES = 54%
Capital Markets -- 18%
Agency Leasing -- 18%
Tenant Representation -- 10%
Investment Management -- 11%
Project and Development Management -- 11%
Property Management (Corporates) -- 5%
Property Management (Investors) -- 19%
Valuations & Consulting -- 8%
MANAGEMENT AND ADVISORY SERVICES = 46%
JONES LANG LASALLE - PAGE - 8:
[ Graphic / Pie Charts indicating ]
DIVERSIFIED REVENUE SOURCES
2001
GEOGRAPHIC SPREAD
-----------------
Americas -- 42%
Europe -- 43%
Asia Pacific -- 15%
JONES LANG LASALLE - PAGE - 9:
OUR VISION
. BE CLIENTS' TRUSTED ADVISOR AND PREFERRED BUSINESS PARTNER
- 50% of top 100 clients take a minimum of 2 services
- Deliver a recognized and differentiated brand
. ATTRACT, DEVELOP AND RETAIN THE BEST PEOPLE
- Achieve 90% recommendation rate from current employees
. DELIVER CONSISTENTLY SUCCESSFUL FINANCIAL PERFORMANCE
- 15% earnings growth
- Strong balance sheet - 25% debt to total capitalization
- Improve margins year over year
- ROE 15+%
JONES LANG LASALLE - PAGE - 10:
DRIVING FINANCIAL PERFORMANCE
JONES LANG LASALLE - PAGE - 11:
DRIVING 15% EARNINGS GROWTH - FAVORABLE MARKET DYNAMICS
- -------------------------------------------------------------------------
GROWTH DRIVER OUR STRENGTHS HOW WE CAPITALIZE
- -------------------------------------------------------------------------
Outsourcing . Global platform . Deliver integrated
services
. Consistent service . Create client
efficiency with
. Innovative technology technology
- -------------------------------------------------------------------------
Cross-border . Global platform . Expand Capital Markets
capital flows and Corporate Finance
. Investment management capabilities geo-
expertise graphically
. Global research . Deploy co-investment
capital in Investment
Management business
- -------------------------------------------------------------------------
Share of client . Consistent service . Continue client
relationship focus
. Integrated marketing
. Explicit cross-selling
objectives
- -------------------------------------------------------------------------
JONES LANG LASALLE - PAGE - 12:
DRIVING 15% EARNINGS GROWTH - OUR SHAREHOLDER STRATEGIES
. SUSTAINABLE PROFITABLE GROWTH
- Total Performance Management (TPM)
- Expand strategic alliance relationships
- Cross-sell new services
- Expand Capital Markets and Investment Management
expertise to all regions
- Develop Corporate Solutions business in Europe and
expand Investor Services business in Americas
- Increase share of clients and market
. OPERATING EFFICIENCY
- Apply client profitability model in rationalizing
clients and geographic markets
- Remain a leader in information technology improving
client service, reducing operating costs, and
increasing process efficiency
JONES LANG LASALLE - PAGE - 13:
ADJUSTED NET INCOME MAINTAINED IN TOUGH ENVIRONMENT
$MM (except per share data)
Actual
---------------------- % Change
2001 (1) 2000 (2) Prior Year
-------- -------- ----------
Revenue $ 882 $ 923 (4.4%)
Operating Expenses 792 831 (5.0%)
ADJUSTED OPERATING INCOME 90 92 (2.2%)
Interest Expense 20 27 (25.9%)
Income Taxes 29 25 16.0%
ADJUSTED NET INCOME $ 41 $ 40 --
ADJUSTED EPS $1.31 $1.31 --
Adjusted EBITDA $ 137 $ 135 1.5%
Notes:
(1) Adjusted to exclude non-operating charges
(2) Adjusted to exclude non-recurring merger related charges
and include impact of SAB 101.
JONES LANG LASALLE - PAGE - 14:
FOCUSED ON MARGIN IMPROVEMENT
$MM
EBITDA EBITDA Margin
---------------------- ----------------------
Reporting Segments 2001 (1) 2000 (2) 2001 (1) 2000 (2)
- ------------------ -------- -------- -------- --------
Owner &
Occupier Services
Americas $ 52 $ 48 16.8% 14.9%
Europe 53 53 15.4% 14.8%
Asia Pacific 7 6 5.1% 4.7%
---- ---- ----- -----
Total 112 107 14.3% 13.2%
Investment Management 25 28 26.3% 25.7%
---- ---- ----- -----
TOTAL FIRM $137 $135 15.6% 14.6%
==== ==== ===== =====
Notes:
(1) Adjusted to exclude non-operating charges.
(2) Adjusted to exclude non-recurring merger related charges
and include impact of SAB 101.
JONES LANG LASALLE - PAGE - 15:
FIRST QUARTER 2002 MET EXPECTATIONS
$MM (except per share data)
Q1 Actual
---------------------- % Change
2002 (1) 2001 (2) Prior Year
-------- -------- ----------
Revenue $ 162 $ 199 (18.6%)
Operating Expenses 166 199 (16.6%)
ADJUSTED OPERATING INCOME (4) 0 --
Interest Expense 4 5 (20.0%)
Income Tax Benefit (3) (2) 50.0%
ADJUSTED NET INCOME $ (5) $ (3) (66.7%)
ADJUSTED EPS $(0.16) $(0.10) (60.0%)
------ ------ ------
ADJUSTED EBITDA $ 5 $ 12 (58.3%)
====== ====== ======
Notes:
(1) Excludes cumulative effect of change in accounting principle
related to SFAS 142.
(2) Adjusted to exclude non-operating charges.
JONES LANG LASALLE - PAGE - 16:
AGGRESSIVE DEBT REPAYMENT
$MM
03/31/02 03/31/01 03/31/00
-------- -------- --------
Short-term Borrowings $ 10 $ 15 $181 (1)
Long-term Debt:
Credit Facilities 90 147 195
Senior Notes (2) 144 145 --
---- ---- ----
TOTAL FUNDED DEBT 244 307 376
Minority Interest 1 1 1
Book Equity 314 316 302
---- ---- ----
Total Capitalization $559 $624 $679
==== ==== ====
- -----------------------------
Current Debt Ratings:
Standard & Poor's: BBB-
Moody's: Bal
- -----------------------------
Notes:
(1) Term debt facility with maturity of less than one-year
(2) EUR 165 million
JONES LANG LASALLE - PAGE - 17:
2002 PLAN SUMMARY
. Assumes continued economic softness -- flat revenue assumption.
. EBITDA up to approximately $150 million.
. Debt paid down by $20 million
. EPS guidance of $1.65 to $1.70
- Expect lower end of range if economic recovery is weak
or extensively delayed
- 7% - 10% core EPS growth year on year
- 26% overall EPS growth (including impact of SFAS 142)
JONES LANG LASALLE - PAGE - 18:
TO BE THE CHOSEN REAL ESTATE EXPERT AND
STRATEGIC ADVISOR TO THE LEADING
OWNERS, OCCUPIERS AND INVESTORS AROUND THE WORLD
. #1 Global Platform
- 100 markets on five continents
- 7,200 real estate professionals
- Technology leader
. #1 Property Manager in the World
- 725 million s.f. under management
. #3 Real Estate Investment Advisor in the World
- $22.2 billion under management
. #1 Real Estate Research Firm in the World
- 160 dedicated professionals
JONES LANG LASALLE - PAGE - 19:
MARKET RECOGNITION OF COMPANY VALUE
[ LINE CHART INDICATING -- ]
STOCK PRICE PERFORMANCE
JLL NASDAQ S&P
--------------------------------------------------
May-01 104.64 100.62 100.32
--------------------------------------------------
Jun-01 104.80 97.41 97.81
--------------------------------------------------
Jul-01 105.90 93.81 95.11
--------------------------------------------------
Aug-01 118.23 89.00 93.05
--------------------------------------------------
Sep-01 112.23 72.56 82.49
--------------------------------------------------
Oct-01 113.64 76.39 85.00
--------------------------------------------------
Nov-01 122.30 86.25 89.20
--------------------------------------------------
Dec-01 132.73 91.21 90.41
--------------------------------------------------
Jan-02 139.43 91.17 90.03
--------------------------------------------------
Feb-02 140.64 83.00 86.91
--------------------------------------------------
Mar-02 164.02 85.92 91.10
--------------------------------------------------
Apr-02 183.11 81.12 87.81
--------------------------------------------------
May-02 184.25 76.78 85.29
--------------------------------------------------
JONES LANG LASALLE - PAGE - 20:
APPENDIX
JONES LANG LASALLE - PAGE - 21:
BROAD RANGE OF INTEGRATED SERVICES
- -------------------------------------------------------------------------
2001 Primary
Business Unit Statistics Revenue Type Business Synergies
- -------------------------------------------------------------------------
Property 530 million . Annuity type - Agency Leasing
Management sq ft management fees
(Investors) paid monthly - Project &
or quarterly Development
Management
- Investment
Management
- -------------------------------------------------------------------------
Property 195 million . Annuity type - Project &
Management sq ft management fees Development
(Corporate) paid quarterly Management
(2000 Combined
Property Manage- - Tenant
ment = 700 Representation
million sq ft)
- -------------------------------------------------------------------------
Project & $2.3 billion of . Strategic - Property
Development construction Alliances Management
Management costs (Investors)
(2000: $1.9 . Percentage of
billion) construction - Property
costs Management
(Corporates)
- Tenant
Representation
- -------------------------------------------------------------------------
JONES LANG LASALLE - PAGE - 22:
BROAD RANGE OF INTEGRATED SERVICES
- -------------------------------------------------------------------------
2001 Primary
Business Unit Statistics Revenue Type Business Synergies
- -------------------------------------------------------------------------
Tenant 3,300 trans- . 80% "recurring" - Project &
Representation actions income from Development
33 million sq ft Strategic Management
(2000: 2,800 Alliances
transactions and - Property
34 million sq ft) Management
(Corporates)
- -------------------------------------------------------------------------
Agency 9,100 trans- . Recurring income - Property
Leasing actions sourced from Management
82 million sq ft Property Manage- (Investors)
(2000: 12,300 ment and
transactions and Investment - Investment
121 million sq ft) Management Management
- -------------------------------------------------------------------------
Capital 1,300 trans- . One-time trans- - Investment
Markets actions fees, but repeat Management
$19 billion of client business
value (2000: - Property
1,700 transactions Management
and $20 billion
of value) - Tenant
Representation
- -------------------------------------------------------------------------
Valuation & 29,400 valua- . Regular repeat - Property
Consulting tions valuation fees Management
(2000: 29,000) tied to asset (Corporates)
value
- Capital Markets
. Consulting
fixed fee or - Tenant
hourly rates Representation
- -------------------------------------------------------------------------
JONES LANG LASALLE - PAGE - 23:
BROAD RANGE OF INTEGRATED SERVICES
INVESTMENT MANAGEMENT
- -------------------------------------------------------------------------
2001 Primary
Business Unit Statistics Revenue Type Business Synergies
- -------------------------------------------------------------------------
Direct $17.8 billion . Contractual base - Capital Markets
Investments of assets under fees (% of assets)
management - Property
(2000: $18.0 . Acquisition fees Management
billion) (Investors)
. Performance fees
- Project &
. Long-term client Development
relationships Management
( >5 years )
- Agency Leasing
- -------------------------------------------------------------------------
Indirect $4.4 billion . Contractual base - N/A
Investments of assets under fees (% of assets)
management
(2000: $4.5 . Performance fees
billion)
- -------------------------------------------------------------------------
JONES LANG LASALLE - PAGE - 24:
Some of the information contained herein is forward looking or time
sensitive. Jones Lang LaSalle undertakes no obligation to update any of
this information. Factors that could cause actual results to vary should
be reviewed in reports filed with the Securities and Exchange Commission.