9 August 2018
Disclaimer: Forward-looking statements
These slides contain certain forward-looking statements including the Group’s financial condition,
results of operations and business, and management’s strategy, plans and objectives for the Group.
These statements are not guarantees of future performance and are subject to risks, uncertainties and
other factors, some of which are beyond the Group’s control, are difficult to predict and could cause
actual results to differ materially from those expressed or implied or forecast in the forward-looking
statements. These factors include, but are not limited to, the fact that the Group operates in a highly
competitive environment. All forward-looking statements in these slides are based on information known
to the Group on the date hereof. The Group undertakes no obligation publically to update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise.
Results
1 Introduction, Highlights & Business Development 2 Financial Review 3 Management Focus 4 Summary and Outlook
3
Highlights
4
Consultancy revenue up 4%
PM business and (post period) Real
Estate Debt Investment Management
Property Management – 36%
exposure to transaction environment
• 1.89bn ft2 under management
• Strong Property Management business
vs. Capital markets
43% (2017-H1: 44%)
57% (2017-H1: 56%)
Broad Geographic Spread
6
Over 31,000 employees in 700 offices in more than 60 countries
580 Employees
5,780 Employees
126 Offices
1,625 Employees
44 Offices
27,711 Employees
66 Offices
Revenue
£280.5m
(34% of Total)
Over 36,000* employees and over 600 offices in more than 60 countries
187 Employees
7 Offices
7
acquisition
Diversification of service lines into Less
Transactional businesses (eg Project Mgmt)
Building of Property Management business to
sustainable profitability (scale)
East (Cluttons)
Revenues (2013 to 2017)
Management business in UK
21 million sq. ft under management with International client base
28 iconic properties, primarily in London
166 London based staff
Middle East – Case Study
Established 40 years ago
with 190 employees
Management, Sales & Leasing
opportunities
border activity through Savills network
Cairo
Revenue 727.8 714.4 +1.9%
Underlying PBT margin 5.8% 6.7% (0.9)% pts
Underlying basic earnings per share 23.4p 25.7p (8.9)%
Dividend per share 4.80p 4.65p 3.2%
Net (debt) / cash (94.6) 1.4 n/a
Net assets 432.3 382.8 12.9%
Revenue and underlying PBT by business
12
312.1
246.6
121.0
33.6
311.3
263.7
125.8
27.0
0
50
100
150
200
250
300
350
2017
2018
+7%
+4%
(20)%
Revenue
24.6
£m
H1 £3.5m) not allocated to the
operating activities of the
group’s business segments
13
UPBT
+2%
The figures in these charts
exclude revenues of £1.1m in
2017-H1 and other net costs
of £3.8m in 2018-H1 (2017-
H1 £3.5m) not allocated to the
operating activities of the
group’s business segments
Working capital
Acquisition spend -
current & deferred
Net debt c/f
At 30 June 2018 - Net debt of £94.6m
(net cash outflow in H1 of £194m)
At 30 June 2017 - Net cash of £1.4m
(net cash outflow in H1 of £187m)
42 1
30 June 2018
£m
Private Placement to US investors
7 year, 10 year and 12 year notes
issued
rate of 3.18%
RCF debt, replacing short term
variable rate borrowings with long
term fixed rate debt
working capital requirements
Commercial Transaction Advisory
2018 Revenue £235.4m (-1%) 2018 UPBT £10.7m (-34%)
Asia Pacific continued strength in Hong Kong and Korea, timing of transactions in Australia, Japan and China, with robust
pipeline going into the second half.
UK subdued volumes against strong comparative, due to lower stock availability and weakness of retail sector.
Europe impact of recent acquisitions including Aguirre Newman and organic growth in Ireland, Germany, the Netherlands
and Sweden.
North America growth in revenues of 5% in constant currency, continued investment in New York capital markets and
occupier services platform.
Growth (12)% (14)% +57% (3)%
5.7
2.8
1.6
0.6
Growth (41)% (38)% n/a (80)%
Residential Transaction Advisory
UK new development sales up 17%; strength in regional development.
UK second-hand sales down marginally due to fewer exchanges, however average values ahead of last year.
Asia Pacific Hong Kong and China remain resilient but slow down in Australia.
58.2
17.7
0
10
20
30
40
50
60
70
Asia Pacific Continued focus on profitability and contract wins.
UK revenue growth offset by platform investment costs (regulatory/client service centre) in advance of future growth (eg
Broadgate Estates).
Europe revenue growth from Aguirre Newman and Larry Smith acquisitions, organic revenues up 9%.
148.8
84.0
30.9
Asia Pacific strong performance in Singapore. Slight decline in valuation revenues in other markets.
Europe Organic revenue growth of 12% plus positive impact of Aguirre Newman acquisition.
93.0
2018 Revenue £27.0m (-20%) 2018 UPBT £2.9m (-56%)
Revenues reduced as anticipated (reduction in SEB liquidating assets vs 2017).
Assets under management increased by 1% to €16.2bn (H1 2017: €16.0bn) with £0.7bn capital raised.
Launched Japan II, SIM’s largest first fund close.
In July announced investment in DRC Capital LLP, a leading European Real Estate Debt Fund Manager.
11.4 12.1
Continued growth of US business and profit improvement
22
Pursue Continental Europe/Middle East growth strategies
Management Focus
23
Summary and Outlook
Connecting people and
property since 1855