EMEA Commentary on CB Richard Ellis Q4/2009 Financial Results
"A robust final quarter concluded a strong performance in the EMEA region in 2009. Our reported normalised EBITDA margin was 9.0% - or 10.6% if you exclude reimbursables. This includes our investment in setting up more than 30 new corporate outsourcing and facilities management accounts won in 2009. To achieve operating margins at this level in the worst market conditions for decades is an extraordinary achievement and demonstrates the strength of our business model and the talent and commitment of our people."
Mike Strong, Chairman and CEO of CB Richard Ellis, EMEA