Colliers International Group Inc. · TSX:CIGI
Colliers International — Investor Presentation (September 2021)
25 slides from Colliers International's investor presentation, September 2021
Slide 1: Investor Presentation
September 2021 Investor Presentation
Slide 2: Basis of Presentation; Forward-Looking Statements
Colliers 2 Basis Of Presentation • All amounts in millions of US Dollars unless otherwise noted. • Adjusted EBITDA (“ EBITD ”) and Adjusted EPS (“ EPS”) are non-GAAP measures. For reconciliations to the most directly comparable GAAP measures see Appendix. • Total shareholder return CAGR computed aft
Slide 3: The World of Colliers
The World of Colliers Global leader in diversified services Professional Investment Property Services Management 66 15,000 $45B Countries1 professionals AUM 42,000 2B transactions square feet managed 1 Includes affiliates
Slide 4: Investment Highlights
Colliers 4 Investment Highlights Well positioned for growth Proven track record Enterprising culture Compelling growth >20% CAGR over 26 years Significant inside ownership “Th Co W y” Global platform Asset-light model Recurring earnings Geographic & service Strong cash flow and Majority of AEBITDA d
Slide 5: 16 Year Record of Success
Colliers 5 16 Year Record of Success Historical Revenue Growth (in US$ millions) Leader in professional property services $2,787 “The Colliers Way” Internal Growth Acquisitions $289 • Decentralized operations • Target, acquire, integrate • Multiple growth engines • More than $2.0B invested 2004 2020
Slide 6: Culture Counts
Colliers 6 “Culture Counts” Enterprising culture, partnership philosophy, growth mindset Total Shareholder Returns Far Outpace The Market CIGI NASDAQ Composite 14,691% >20% CAGR 1,874% Jan-95 Jan-95 Sep-21 Jan-20
Slide 7: Geographic Diversification
Colliers 7 Geographic Diversification Global scale brings stability and opportunity TTM Q2 2021 Revenue By Geography TTM Q2 2021 AEBITDA By Geography 60% 54% 14% 18% 17% 5% 17% 15% Americas EMEA APAC Investment Management
Slide 8: Service Diversification
Colliers 8 Service Diversification Rapidly growing Recurring Revenues/AEBITDA TTM Q2 2021 Revenue By Service TTM Q2 2021 AEBITDA By Service 45% 39% 27% 50% 54% 46% Recurring Recurring 5% 23% 15% Outsourcing & Advisory Leasing Outsourcing & Advisory Capital Markets & Leasing Capital Markets Investmen
Slide 9: Professional Property Services
Colliers 9 Professional Property Services Fully integrated global platform Outsourcing & Advisory Revenue Leasing & Capital Markets Revenue 34% 30% 37% 34% 7% 8% 3% 29% 9% 9% Engineering & Design, Property Management Office Industrial Retail Project Management Valuation and Other Loan Servicing Mult
Slide 10: Engineering, Design, Projects
Colliers 10 Engineering, Design, Projects High value, recurring, contractual revenues Key TTM Q2 2021 Revenues Multi-Disciplined Professional Services Disciplines Enhancing the Built Environment Site $480 • Industry leading revenue growth1 • Highly fragmented sector Selection/Preparation million Sur
Slide 11: Investment Management
Colliers 11 Investment Management Direct private real estate investing Growing AUM $39B AUM Percentage of AEBITDA1 • Leader in alternative assets (in US$ billions) • Open and closed-end funds $45 • Industry leading returns Global Peers2 $36 • 4 PERE Awards ~11% • North America and Europe CIGI3 $6B A
Slide 12: Harrison Street
Colliers 12 Harrison Street Global leader in alternative asset management Since AUM Mix Positive Industry Dynamics inception • Leader in alternative & differentiated assets Student Housing Senior Housing >1,200 32% • Top tier investment returns1 30% Properties • Growing allocations to alternative as
Slide 13: Compelling Growth Prospects
Colliers 13 Compelling Growth Prospects Highly fragmented, large global markets $340B+ Market Size Recent Acquisitions Americas Property Management Bergmann (announced) Sep 2021 Project Management Bolton Perez & Associates Mar 2021 Engineering & Design Valuation Colliers Nashville Sep 2020 Debt Fina
Slide 14: Evolving Differently
Colliers 14 Evolving Differently Recurring and scalable services Expand services Focus on higher value services • Leverage global scale & enterprising culture • Higher margins Recurring • Gain share through internal growth • Higher value add AEBITDA • Highly recurring, long-term contracts or deep •
Slide 15: Focus on Impact
Colliers 15 Focus on Impact Environmental, Social, Governance – “ESG” Published inaugural Global Impact Report • Full impact position, strategy, measurable goals underway Serving the environment • Key part of current advisory services – full suite of sustainability services • Transforming our own wo
Slide 16: Financial Overview
Financial Overview
Slide 17: Strong Record of Performance
Colliers 17 Strong Record of Performance Revenue growth providing operating leverage Revenue Adjusted EBITDA (in US$ millions) (in US$ millions) $500 18.0% $3,046 $2,825 $2,787 $2,435 $400 $359 $361 16.0% $311 $1,897 $300 14.0% $1,722 $243 $203 $200 $181 12.0% 13.0% 11.8% $100 11.0% 10.0% 10.5% 10.7
Slide 18: Strong Record of Performance
Colliers 18 Strong Record of Performance Significant AEPS and operating cash flow growth Adjusted EPS Operating Cash Flow1 and Capex (in US$) (in US$ millions) $4.67 $4.09 $4.18 $257 $246 $3.16 $213 $214 $2.29 $2.44 $156 $127 $39 $36 $44 $40 $23 $25 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018
Slide 19: Q2 2021 Operating Results
Colliers 19 Q2 2021 Operating Results US$ millions, except Adjusted EPS Highlights Q2 2021 Q2 2020 • Robust second quarter results with strong 1 Revenue AEBITDA Revenue AEBITDA Growth momentum across all services lines Americas 582.8 78.9 308.9 24.4 84% EMEA 158.6 20.6 99.6 6.3 45% • Capital Markets
Slide 20: 2021 Outlook
Colliers 20 (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% • Given stronger than anticipated operating results for the second quarter, we increased our pr
Slide 21: Balance Sheet
Colliers 21 Balance Sheet Liquidity and cash flow Capitalization Schedule (in US$ millions) Jun 30, 2021 Dec 31, 2020 Jun 30, 2020 Cash $ 147.5 $ 156.6 $ 147.2 Conservative financial profile with ample liquidity Revolving Credit 289.0 213.2 384.0 Facility maturing 2024 • As at June 30, 2021 2.23% Eu
Slide 22: Investment Highlights
Colliers 22 Investment Highlights Maximizing the potential of property to accelerate success Proven track record Enterprising culture Compelling growth >20% CAGR over 26 years Significant inside ownership “Th Co W y” Global platform Asset-light model Recurring earnings Geographic & service Strong ca
Slide 23: Appendix
Appendix
Slide 24: Reconciliation of GAAP earnings to adjusted EBITDA
Colliers 24 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 25: Reconciliation of GAAP earnings to adjusted net earnings and adjusted EPS
Colliers 25 Reconciliation of GAAP earnings to adjusted net earnings and adjusted earnings per share Adjusted EPS is calculated using the “if-converted” method of calculating earnings per share in relation to the Convertible Notes, which were issued on May 19, 2020
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