Perkins Eastman
building a sustainable future
Annual Report 2011
Al Raha Beach Hotel Abu Dhabi, UAE
1
Design Philosophy A Commitment to Sustainability Underlying thisthis philosophy Underlying philosophyis isthethe conviction that conviction thatwith witha thorough a thorough understanding of each building understanding of each building type’s requirements, we we could type’s requirements, could realize the true potential of anyany realize the true potential of project thethe quality projectand andenrich enrich quality of life as as thethe of life ofofitsitsusers usersasaswell well communities in which they are communities in which they are located. there. located
Our Beliefs
Our Process
Despite the unique needs of each building type supported by the firm, Perkins Eastman’s approach to design remains steadfastly committed to several common beliefs: The built environment makes a significant difference in the quality of life of the people who live, work, and interact in the building. Design excellence is achieved by a talented team led by a principal in charge.The principal in charge, often drawing upon the vast expertise from other principals, shapes the design solution differently for each project. Design excellence is enhanced by research, an interest in the unique issues of each building type, and a commitment to designing a space using technology and innovation that benefits the enduser as well as the planet.
Architecturally speaking, the term “process” refers to the steps involved in developing a design— a solution to the problem. At Perkins Eastman, process casts a much wider net and precedes the project by redefining the problem then following a deductive path that begins with research into the general issues of a building type: the unique needs of the client and the people who will use it; the possibilities for innovation; technological advancements and sustainable design principles; and both the limitations and opportunities provided by the site and context. This process assumes that the challenge of the project is often discovering how to go beyond the conventional solution. What results is a true synthesis of programmatic requirements, context, and innovative design that is sensitively integrated in its physical, cultural, and natural environments hibid.
2
Humanity & Purpose A Future Built To Last
United by Innovation
Merged & Enhanced
Affiliated with Success
The firm is united in the belief that innovative design is the result of an understanding of the client’s goals and aspirations, the building type, context, and budget, and the synthesis of these issues by architects with proven design abilities. This philosophy allows us to produce awardwinning projects and earn the respect of our clients, resulting in long-term relationships.
Perkins Eastman and Ehrenkrantz Eckstut & Kuhn Architects (EE&K) have merged their practices. The current merger significantly strengthens both practices and is a natural outgrowth of their respective histories and long mutual respect. With a shared commitment to innovation and the creation of iconic places, the two complementary firms provide enhanced capabilities, expanded global reach, and value.
The firm is also strengthened by several affiliate companies, strategic alliances, and centers of excellence offering real estate and transportation planning services, branding and environmental graphics, landscape architecture, broadcast and acoustics, and economic and demographic forecasts as well as enhanced capabilities for integrating the design of buildings and open space, and for transforming large scale “projects� into genuine places. * EE&K * BFJ Planning * RGR Landscape * Urbanomics * Russell Design * Janson Tsai Design
3
BBC Worldwide London, UK
4
New York Stock Exchange Manhattan, New York
5
Stock Appreciation 43% of the Fortune 500 Already Share Our Vision
Shares Sold Net Profit Gloss Margin
2011
2010
2009
$100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000
6
2008
2007
Leading A New Ethos A Pioneer Always Arrives First
Industry
a.
Ecology
Opportunity
a. b. c.
a.
b.
i.
c.
i.
h.
d.
h.
g. f. e.
a. 30% Financial Appreciation b. 15% Energy & Utility Spike c. 15% Advanced Technology d. 4% Raw Material Revenue e. 3% Oversight Comp Adjust f. 5% Structure Economy g. 9% Faculty Enlargement h. 9% Resin Composite i. 10% Production Rise
g.
d.
i.
e.
h.
f.
a. 30% Reusable Materials b. 15% Solar Energy Use c. 15% Mill Steel Reduction d. 4% Plant Integration e. 3% Composable Increase f. 5% Adhesive Reduction g. 9% Compartmentalized h. 9% Forest Growth Add i. 10% Recyclability
7
g.
b.
f.
c. d. e.
a. 10% Untouched Market b. 15% Government Subsidy c. 15% Tax Exemption d. 4% Firm Reappraisal e. 3% Turnover f. 5% New Technology g. 9% Lobbyist Leverage h. 9% Market Appreciation i. 30% Job Creation
34 Berry Street Brooklyn New York
8
Park Hyatt Marrakech at Al Maaden Marrakech, Morocco
9
Financial Highlights Great Innovation Yields Great Appreciation
Dollars in Millions
2011
2010
2009
Total Revenues North America Europe Asia Pacific Latin America Executive Search
$ 373.1 $ 195.8 106.6 35.1 31.2 368.7
$ 315.0 $ 162.6 86.2 34.8 31.4 315.0
$ 272.6 $ 135.2 77.5 34.5 25.4 272.6
Net Revenues Compensation General & Admin Non-recurring charges Provision for income tax
$ 356.5 217.0 100.7 89.2 9.0
$ 300.6 197.8 84.6 70.3 6.7
$ 260.4 166.9 73.0 70.4 6.7
Net Income (Loss) Basic Diluted Weighted
$ (66.4) (2.37) (2.37) (.19)
$ (5.2) (.24) (.23) (.13)
$ (9.0) (.42) (.40) (.16)
Total Assets Total Liabilities Shareholders’ equity Diluted weighted Number of assignments
$ 304.1 129.4 172.7 28.1 6,771
$ 176.4 115.6 56.2 2.6 5,879
$ 148.4 96.5 48.2 2.6 4,774
10
Perkins Eastman 115 Fifth Avenue New York, NY 10003 T. 212.353.7200 F. 212.353.7676 www.PerkinsEastman.com Report design by Maximillian Piras