Willis Group Holdings THIRD QUARTER 2014 RESULTS October, 2014
3Q 2014 Underlying EPS growth Underlying EPS down 0.05 cents year over year 0.09 (0.13) 0.19 0.01 0.00 0.14 0.34 Underlying business performance = (0.04) (0.02) (0.10) (0.08) - Increased tax rate= (0.01) - Associates = 0.01 -…
YTD 2014 underlying EBITDA and cash generation millions Underlying EBITDA Underlying EBITDA down 1.5% reflecting: 646 636 Underlying revenue growth International driven by emerging markets and Charles Monat 96 87 acquisition in Asia…
3Q 2014 Commissions and fees growth % Growth 3Q 2014 vs. 3Q 2013 Reported Organic Growth led by International with solid Group results in North America and 2.5% 2.1% Reinsurance 1 2 Growth in geographic regions led by Midwest…
3Q 2014 Total operating expenses Total underlying operating expense growth of 4.1% millions Underlying expense growth over past 4 quarters: 4.1% Q314: 4.1% Q214: 6.1% Q114: 5.5% Q413: 7.1% (1) (1) Represents expense…
3Q 2014 Salaries and benefits millions Q3 2013 Q3 2014 Change Growth in underlying S&B of 4.0% in 3Q14 compared to prior year quarter Reported S&B 541 569 Increase driven by headcount growth and salary reviews Y-o-Y FX movement(1) 6 -…
3Q 2014 Non-operating segment items and Corporate & other Increase in expense in the quarter represents 14 million of Other foreign exchange loss on revaluation of non-functional currency income/expense assets and liabilities…
Balance sheet highlights millions Cash as of 796 623 656 Cash on hand up 33 million compared to 3Q13 Cash on hand down 140 million from year end 2013, primarily due to the share buyback program and increased cash dividends,…
Operational Improvement Program and metrics Cumulative Annualized millions 2014 2015 2016 2017 2014-2017 2018+ As of April, 2014 announcement Expected Charge 410 Expected Savings 5 45 135 235 420 300 As of October, 2014 update…
Summary Global presence Connecting Willis Organic C&F Innovation growth Delivering better solutions for clients and driving new business Earnings High quality, specialized firms with leading positions growth Recent examples…
APPENDICES
YTD 2014 Underlying EPS growth Underlying EPS down 0.20 YTD 2014 vs. YTD 2013, negatively impacted by higher tax rate and increased share count - Deferred tax valuation allowance 2.22 0.04 = (0.12) - Venezuela devaluation = (0.07)…
YTD 2014 Commissions and fees growth % Growth YTD 2014 vs. YTD 2013 Reported Organic Good growth despite challenging market conditions in Reinsurance and moderating Group rates across almost all markets 3.9% 3.8% 1 2 Good growth…
YTD 2014 Total operating expenses 5.2% underlying total operating expense growth driven by S&B and other operating expenses millions 2,336 2 2,316 20 30 83 2,218 30 (46) 1 2,201 YTD 2013 Foreign Expense Debt YTD 2013…
YTD 2014 Salaries and benefits millions YTD2013 YTD2014 Change Growth in underlying S&B of 5.1% YTD in 2014 compared to prior year Reported S&B 1,638 1,714 Increase driven by increased headcount and Expense Reduction Initiative (29) -…
Important disclosures regarding non-GAAP measures Commissions and fees analysis Organic Foreign Acquisitions commissions currency and and fees 2014 2013 Change translation disposals growth ( millions) % % % % Three months ended…
Important disclosures regarding non-GAAP measures Operating income to underlying operating income 2013 2014 ( millions) 1Q 2Q 3Q YTD 1Q 2Q 3Q YTD Total revenue 1,051 890 795 2,736 1,097 935 812 2,844 excluding: Foreign currency…
Important disclosures regarding non-GAAP measures Net income (loss) to underlying net income 2013 2014 ( millions, except per share data) 1Q 2Q 3Q YTD 1Q 2Q 3Q YTD Net income (loss) 219 105 (27) 297 246 47 (7) 286 Excluding the…
Important disclosures regarding non-GAAP measures Net income (loss) to underlying EBITDA 2013 2014 ( millions) 1Q 2Q 3Q YTD 1Q 2Q 3Q YTD Net income (loss) 219 105 (27) 297 246 47 (7) 286 Add back: Net income (loss) attributable to…
Important disclosures regarding non-GAAP measures Reported total expenses to underlying total expenses, and Reported salaries and benefits to underlying salaries and benefits 2013 2014 (In millions) 1Q 2Q 3Q YTD 1Q 2Q 3Q YTD Reported…
IR Contacts Peter Poillon Tel: +1 212 915-8084 Email: peter.poillonwillis.com Mark Jones Tel: +1 212 915-8796 Email: mark.p.joneswillis.com 22
Loading...
