Thank you, Christian.
that are the I'm otherwise Before over of leadership against volume despite office with well reaching transactional level deliver to XXXX leasing softness evidenced by market year investment market volumes than was lower clients. I teams efficiency currency, strengthen platform, begin, and continuing full activities our variances a our its pleased year persistent made the as improve our local progress exceptional while to last noted. XXXX. unless industrial in our long-term XX% creation in value course as the and drive of sales period reminder Strong service lowest to prior operating since focus year
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which leasing business more mix. for we is sustained described, assets, our high-quality Christian continue demand for see to favorable As
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volatility, Shifting heightened revenue by in for along rate quarter XX% and full XX% uncertainty. interest increases with investor to decision-making the segment. prolonged Capital economic Markets year geopolitical our Fee sharp and elevated and declined as the was
approximately XX% Christian asset declined in Our favorably revenue most global investment the across for Fee revenue XX% of accounted in sales volume segment geographies sales which decline global and fell and with the referenced. major XX% fee quarter revenue, classes. a fee compared
we Pacific in several spots However, Japan. by the highlighted had great region Asia
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sales equity the picked which and influenced over time momentum higher the the XX-year The peak. factors the anticipate XXXX modestly global last rate in this compared with course of client the Looking Christian recent the ahead, impacting year, by timing with closing revenue second XXXX. half engagement below months. pipeline debt be amount treasury XXXX rates of of Capital and of October has up rates Markets few the has past growth will and we well so over investment stability advisory general heavily described, is up that is coincided the pace growth deal and that
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which XX% Turning Technologies. client demand fourth of growth, organic to year-over-year quarter JLL XX% drove fee Existing top a on was growth XXXX. rate enterprise in the revenue
the year, full organic XX% XX% the For revenue growth prior year. growth fee followed in
retention and JLL of We Technologies continue strong rates see Software revenue. to Solutions
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deployment the raising the impact than activity environment, Now currency decline Absent balance quarter were movements, given net over a the assets declined of valuation evolving our foreign within X% the the LaSalle. and reductions Advisory fee valuation new declines disposition with capital to activity. with market of to in assets past year lower also year. exchange be subdued X% continues and under on moderates management attributable revenue XX% management Capital primarily acquisition a earlier, which approximately transaction to revenues. from under
full about drove respective year perspective, and increased are than function for a For lower a Incentive investments and muted X% the growth. which were year period. trailing disposition quarter timing asset new the full months of XX the and segment prior off fees, performance for revenue fee year the XX% XXXX
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we bond credit quarter, proceeds facility. reduce borrowings on used strengthened position to with our liquidity $XXX through offering a million our the our During
Liquidity of facility including the end of quarter $X.X credit fourth undrawn at billion the totaled $X.X capacity. billion
earnings December of the X.Xx from XX, had lower losses well noncash X.Xx net The adverse impact months. was on equity X.Xx reported cash reported quarter XX as trailing over our leverage as a a As leverage of net earlier, losses equity ratio. adverse due the up to fourth impact primarily year
offset X of manage of term, medium business With the dilution capital our just repurchased compensation we leverage to the our above towards prioritize intend shares XXXX, selectively of and range to in $XX million deployed the sheet. deleveraging as stock the the middle Over midpoint initiatives target balance to we we growth Xx range. leverage towards
leverage, to continue will dilution. current that anticipate and seasonality a at expected full the share we Considering stock near-term repurchases pace offset compensation year
M&A. against amount dependent share be generation set, the out, performance weighted of will opportunity investment our in and our while the also outlook further broader cash on macroeconomic particular repurchases the business, of Looking particularly
the full cautiously our the second business in in lines Regarding outlook, more resilient that half we year. financial year our transaction activity are of XXXX up pick optimistic will solid. remain Growth
scale growth future continue We drive capture opportunities both and platform our to leverage. and to invest operating
efficiency, full play earnings, in our We equity to to XX.X% range With adjusted EBITDA XX.X%. we a initiatives to within are cycles. many value excited prospects targeting XXXX a of business excluding drive of about are year market be creation margin, the and growth across
reporting effective I'd Christian, to to first like a changes make quarter we the back call will the note XXXX. few turning Before in of
excluded related continue and joint earnings across of Technologies and from investment for adjusted change JLL reporting ventures financial across net equity allow our First, to be will this and our adjusted will business better be LaSalle's calculation. visibility EBITDA earnings activity included. We income Equity clear believe performance to operating from comparability operating the will periods. our
which sales Second, committed assets to under management to uncalled cash. and capital includes with we definition standards, industry aligning conform are
these our of revenue Third, presentation the we regarding metrics from quarter, conclusion fee following beginning comment statements. in next financial longer operating the no will of SEC the letter report or expenses a fee-based
alternative bring. provide visibility measures the information We are to we believe ways and those working through
non-GAAP reporting third of this is a solely presentation. measure change Importantly, matter
the our or business, As there EBITDA, no of adjusted free impact flow. underlying GAAP net our to financial audited statements, is cash performance income adjusted
information We reflects quarter call. back reporting to provide historical I will to all just Christian, discussed changes you. our financial that first X prior earnings
