Revenue and Growth Metrics
Fee revenue reached $1.5 billion, an increase of 4%, with organic fee revenue growing 6%. Adjusted EBITDA rose 24% to $96 million, with a 100 basis points year-over-year margin improvement.
Leverage Reduction
Cushman & Wakefield reduced leverage by paying down an additional $25 million in debt. Since the CEO took over, the company has repaid $230 million in debt and successfully refinanced and repriced its debt five times.
Leasing and Capital Markets Performance
Leasing business grew by 9%, with Americas leasing increasing by 14%. Capital markets grew 11% globally, driven by strong performance in the APAC region (59% growth) and EMEA (17% growth).
Service Line Achievements
Organic services fee revenue grew by 6% in the Americas, driven by strength in facilities management and facility services. The APAC services business demonstrated resiliency, with new sizable contracts coming online.