Colliers International Group Inc. · TSX:CIGI
Colliers International — Q3 2021 Earnings Presentation
15 slides from Colliers International's earnings presentation, Nov 2, 2021
Slide 1: Third Quarter 2021 Financial Results
Third Quarter 2021 Financial Results Colliers International Group Inc. November 2, 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 September 30 Q2 Q2 USD LC (1) Revenue 1022.8 692.3 48% 46% Adjusted EBITDA 123.6 92.1 34% 32% Adjusted EBITDA Margin 12.1% 13.3% Strong third quarter results with continued momentum across all Adjuste
Slide 4: Consolidated Revenues
Colliers 4 Third Quarter % Change over Q3 2020 Investment Management USD 88% LC 87% Consolidated Revenues (US$ millions) Outsourcing & Advisory 24% 22% Capital Markets 88% 85% 1,022.8 Leasing 43% 41% Investment 78.3 Total 48% 46% Management (1) Outsourcing & 390.9 692.3 Advisory 41.7 315.4 Revenue M
Slide 5: Service Diversification
Colliers 5 Trailing Twelve Months Ended September 30, 2021 Service Diversification TTM Q3 2021 Revenue By Service Line TTM Q3 2021 AEBITDA By Service Line 43% 23% 35% 49% 49% 51% Recurring Recurring 28% 6% 16% Outsourcing & Advisory Leasing Outsourcing & Advisory Capital Markets & Leasing Capital Ma
Slide 6: Geographic Mix
Colliers 6 Third Quarter Geographic Mix (US$ millions) Q3 2021 Revenues Q3 2020 Revenues Investment Investment Management Management 78.3 8% 41.7 6% 17% Asia Pacific Asia Pacific 16% 110.5 172.3 60% 61% Americas Americas 15% 617.1 EMEA 422.6 EMEA 117.4 17% 154.9 Q3 2021 AEBITDA Q3 2020 AEBITDA Inves
Slide 7: Americas
Colliers 7 Americas Revenue AEBITDA and Margin (US$ millions) (US$ millions) 617.1 228.7 Outsourcing & Strong Capital Markets activity, especially in 422.6 Advisory the industrial and multi-family asset classes 182.6 Outsourcing & Advisory revenues up 213.4 Capital Markets strongly on robust growth
Slide 8: EMEA
Colliers 8 EMEA Revenue AEBITDA and Margin (US$ millions) (US$ millions) 154.9 117.4 Strong growth across all service lines Outsourcing & 79.8 Advisory Adjusted EBITDA increased on higher 66.6 revenues and cost savings implemented during the pandemic 15.0 Capital Markets 40.4 27.6 7.7 9.7% Leasing 3
Slide 9: APAC
Colliers 9 APAC Revenue AEBITDA and Margin (US$ millions) (US$ millions) 172.3 Robust growth across all service lines and Outsourcing & 82.3 geographies, particularly in Australia and Advisory 110.5 New Zealand 66.0 Improvement in margin attributable to 20.7 Capital Markets operating leverage 56.9 1
Slide 10: Investment Management
Colliers 10 Investment Management Revenue AEBITDA and Margin (US$ millions) (US$ millions) 78.3 18.6 Pass-through carried Strong management fee growth from interest 50.0 200.0% increased AUM 45.0 180.0% 41.7 40.0 160.0% 1.9 35.0 140.0% Raised a record $4.9 billion year to date 27.8 30.0 120.0% Inves
Slide 11: Capitalization & Capital Allocation
Colliers 11 (US$ millions) Capitalization & Capital Allocation Highlights September 30, 2021 December 31, 2020 September 30, 2020 • Leverage ratio of 0.5x Cash $ 134.1 $ 156.6 $ 129.2 Total Debt 378.7 479.9 643.9 • Proceeds from new Senior Notes drawn on October Net Debt $ 244.6 $ 323.3 $ 514.7 7, 2
Slide 12: 2021 Outlook
Colliers 12 (US$ millions) 2021 Outlook • Full year revenue and Adjusted EBITDA to exceed the top end of the previously provided outlook • The previously provided outlook for the full year 2021, relative to 2020, was a revenue increase of 20% to 30% and an Adjusted EBITDA increase of 25% to 35% • Ri
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 Nine months ended (US$ thousands) September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Net earnings (loss) $ 50,496 $ 31,979 $ (337,298) $ 44,921 Income tax 18,771 11,740 48,490 19,066 Other inco
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 Nine months ended (US$ thousands) September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Net earnings (loss) $ 50,496 $ 31,979 $ (337,298) $ 44,921 Non-control
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