Cushman&Wakefield returned to positive results and changed its managing director

Cushman&Wakefield returned to positive results  and changed its managing director

The consultancy firm announced a net result of 35.5 million dollars for the first half of the year, compared to the 155.9 million euro losses registered during the same period last year, according to a release issued by the company. Revenues increased 11% from 3.639 million dollars to 4.172 million dollars. Of these, 1.538 million dollars were generated by the company’s properties, facilities and project management area, 745 million dollars came from leasing, 449 million dollars from capital markets and 235 million dollars from the valuation area. The remaining 1.204 million dollars were generated by gross reimbursable contracts, reflecting returns from clients who have no margin.

The EBITDA of the first half of the year was 319.6 million dollars, around 62% more than the previous year when the EBITDA was 189.1 million dollars.

During the second quarter, the consultancy firm registered 2.2 billion dollars in revenues, 29% more yoy, wheras the adjusted EBITDA was 219.9 million dollars, a 75% yoy increase. 

The company nominated John Forrester, current global president at Cushman&Wakefield, as managing director, which will become effective on the 1st of January 2022. Brett White, current managing director, will remain within the company’s as executive director. 

In his current position as president of Cushman&Wakefield, Forrester is in charge of supervising the operational supervision and direct management of all the company’s service lines and regions. He is also a member of global executive committee and of the global board. 

Cushman&Wakefield is amongst the largest real estate companies and has 50.000 employees spread across 400 offices located in sixty countries. In 2020, the company earned 7.8 billion dollars.


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