WTW: FY2017 revenues was up by 4% y-o-y
The broking and solutions company Willis Towers Watson (WTW) announced its FY 2017 total revenues were USD 8.2 billion, increasing by 4% y-o-y (USD 7.9 billion in 2016). FY 2017 net income was USD 592 million vs. USD 438 million in the prior-year.
Adjusted EBITDA was USD 1.90 billion, or 23.2% of total revenues, an increase from adjusted EBITDA of USD 1.77 billion, or 22.3% of adjusted revenues in the prior-year. This represents an increase of 90 basis points in Adjusted EBITDA margin over the prior-year.
Net income attributable to Willis Towers Watson increased to USD 568 million, from USD 420 million in the prior-year.
WTW said for the 12 months ended December 31, 2017, diluted earnings per share were USD 4.18, and adjusted diluted earnings per share were USD 8.51. Net income attributable to Willis Towers Watson and diluted earnings per share include pre-tax USD 269 million of transaction and integration expenses and USD 132 million of restructuring costs.
The company announced for the full year, it repurchased approximately USD 710 million of Willis Towers Watson stock, including the cancellation of shares related to the settlement of shareholder appraisal litigation.
"We just celebrated the second anniversary of Willis Towers Watson, and I couldn't be more pleased to see the evolution of our Company in two short years." said John HALEY, WTW's CEO. "The foundation we built in 2016 led to strong execution as exhibited in the 2017 financial results. (...) I look forward to seeing the continued evolution during 2018 and beyond."
For 2018, WTW expects constant currency revenue growth of around 3%, and 4% on an organic basis; and Adjusted Diluted Earnings per Share in the range of USD 9.88 to USD 10.12.
Author: Vlad BOLDIJAR
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