CBRE Group reported net revenue of $35.8 billion and consolidated net income of $968 million for the year ended December 31, 2024, compared to net revenue of $31.9 billion and net income of $986 million in 2023.

1. 01

   CBRE Group reported net revenue of $35.8 billion and consolidated net income of $968 million for the year ended December 31, 2024, compared to net revenue of $31.9 billion and net income of $986 million in 2023.

2. 02

   The company said its effective tax rate in 2024 decreased to 15.0% from 19.5% in 2023, citing the reversal of unrecognized tax positions as the reason for the decrease. It added that provision for income taxes was $182 million in 2023 compared to $250 million, and net interest expense increased 44.3%.

3. 03

   CBRE said capital deployment in 2024 totaled approximately $1.8 billion, which included $1.1 billion in M&A and other strategic investments and $644 million in share buybacks of 5,110,624 shares. In November 2024, the Board increased the total authorized amount under the 2024 program to $9.0 billion.

4. 04

   The company said net cash provided by operating activities in 2024 was $1,708 million, an increase from $480 million in the prior year. It cited expansion of operating cash flow from revenue growth and improved working capital as factors for the increase.

Key figures

Fiscal year ended December 31, 2024

Revenue

$35.1B

Operating income

$1.4B

Net income

$968M

EPS

$3.14

Operating cash flow

$1.7B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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