Colliers International Group Inc. · TSX:CIGI
Colliers International — Q2 2021 Earnings Presentation
15 slides from Colliers International's earnings presentation, Aug 4, 2021
Slide 1: Second Quarter 2021 Financial Results
Second Quarter 2021 Financial Results Colliers International Group Inc. August 4, 2021
Slide 2: Forward-looking statements and Non-GAAP measures
Colliers 2 This presentation includes or may include forward-looking statements. Forward- ook m d h Comp y’ f performance outlook and statements regarding goals, beliefs, strategies, objectives, plans or current expectations. These statements involve known and unknown risks, uncertainties and other
Slide 3: Highlights
Colliers 3 (US$ millions, except per share amounts) Three months ended 2021 2020 %Change Highlights June 30 Q2 Q2 USD LC (1) Revenue 946.0 550.2 72% 64% Adjusted EBITDA 136.6 60.0 128% 116% Adjusted EBITDA Margin 14.4% 10.9% Adjusted EPS 1.58 0.70 126% Robust second quarter results with strong momen
Slide 4: Consolidated Revenues
Colliers 4 Second Quarter % Change over Q2 2020 Investment Management USD 22% LC 21% Consolidated Revenues (US$ millions) Outsourcing & Advisory 51% 43% Capital Markets 131% 119% Leasing 76% 69% 946.0 Investment Total 72% 64% Management 50.5 Outsourcing & 388.7 Advisory 550.2 41.4 Revenue Mix Q2 202
Slide 5: Service Diversification
Colliers 5 Trailing Twelve Months Ended June 30, 2021 Service Diversification TTM Q2 2021 Revenue By Service Line TTM Q2 2021 AEBITDA By Service Line 45% 39% 27% 50% 54% 46% Recurring Recurring 5% 23% 15% Outsourcing & Advisory Leasing Outsourcing & Advisory Capital Markets & Leasing Capital Markets
Slide 6: Geographic Mix
Colliers 6 Second Quarter Geographic Mix (US$ millions) Q2 2021 Revenues Q2 2020 Revenues Investment Investment Management Management 50.5 5% 41.4 8% Asia Pacific 16% 154.0 Asia Pacific 18% 100.1 62% 56% Americas Americas 308.9 EMEA 17% 582.8 158.6 18% EMEA 99.6 Q2 2021 AEBITDA Q2 2020 AEBITDA Inves
Slide 7: Americas
Colliers 7 Americas Revenue AEBITDA and Margin (US$ millions) (US$ millions) 582.8 Outsourcing & Strong revenue growth 226.6 Advisory - Capital Markets and Leasing activity across major markets - Impact of recent acquisitions 308.9 Capital Markets 176.2 78.9 134.9 Adjusted EBITDA increased on higher
Slide 8: EMEA
Colliers 8 EMEA Revenue AEBITDA and Margin (US$ millions) (US$ millions) Strong growth across all service lines, particularly Capital Markets 158.6 Adjusted EBITDA increased on higher revenues and cost savings implemented Outsourcing & 77.7 99.6 during the pandemic Advisory 56.7 46.9 20.6 Capital Ma
Slide 9: APAC
Colliers 9 APAC Revenue AEBITDA and Margin (US$ millions) (US$ millions) Robust growth across all service lines and geographies, particularly in Australia and New Zealand 154.0 Improvement in margin attributable to Outsourcing & 100.1 84.2 operating leverage and a lower cost base Advisory 65.3 20.7
Slide 10: Investment Management
Colliers 10 Investment Management Revenue AEBITDA and Margin (US$ millions) (US$ millions) 50.5 50.0 200.0% 41.4 45.0 180.0% Strong management fee growth from 40.0 160.0% increased AUM 35.0 140.0% 30.0 120.0% AUM of $44.5 billion at June 30, 2021, up 50.5 25.0 21.3 100.0% 13% from December 31, 2020
Slide 11: Capitalization & Capital Allocation
Colliers 11 (US$ millions) Capitalization & Capital Allocation Highlights June 30, 2021 December 31, 2020 June 30, 2020 • Leverage ratio of 0.9x at June 30, 2021 Cash $ 147.5 $ 156.6 $ 147.2 Total Debt 540.1 479.9 627.2 • $701 million of unused credit under revolving credit Net Debt $ 392.6 $ 323.3
Slide 12: 2021 Outlook
Colliers 12 (US$ millions) 2021 Outlook Full Year 2021 Outlook (including the impact of completed acquisitions) Updated Previous Revenue +20% to +30% +15% to +30% Adjusted EBITDA +25% to +35% +15% to +30% • Risks to the outlook: • Emergence of COVID-19 variants around the world • Certain operating c
Slide 13: Appendix: Reconciliation of non-GAAP measures
Colliers 13 Appendix Reconciliation of non-GAAP measures
Slide 14: Reconciliation of GAAP earnings to adjusted EBITDA
Colliers 14 Reconciliation of GAAP earnings to adjusted EBITDA Three months ended Six months ended (US$ thousands) June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Net earnings $ (412,601) $ 6,483 $ (387,794) $ 12,942 Income tax 20,872 2,127 29,719 7,326 Other income, including equity earning
Slide 15: Reconciliation of GAAP earnings to adjusted net earnings and adjusted earnings per share
Colliers 15 Reconciliation of GAAP earnings to adjusted net earnings and adjusted earnings per share Three months ended Six months ended (US$ thousands) June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Net earnings $ (412,601) $ 6,483 $ (387,794) $ 12,942 Non-controlling interest share of ear
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