Colliers International Group Inc. · TSX:CIGI
Colliers International — Q2 2017 Earnings Presentation
15 slides from Colliers International's earnings presentation, Aug 1, 2017
Slide 1: Second Quarter 2017 Financial Results
Colliers International Group Inc. Second Quarter 2017 Financial Results August 1, 2017
Slide 2: Forward-Looking Statements
Colliers International 2017 Forward - Looking Statements 2 This presentation includes or may include forward - looking statements. Forward - looking statements include the Company’s financial performance outlook and statements regarding goals, beliefs, strategies, objectives, plans or current expect
Slide 3: Second Quarter 2017 Results
Colliers International 2017 ▪ Revenue up 13% (15% in local currency) and solid increase to earnings ▪ Completed acquisition of Colliers Minneapolis - St. Paul, further strengthening operations in the US Midwest, bringing the number of acquisitions completed year - to - date to five ▪ Declared semi -
Slide 4: Second Quarter 2017 Results Summary
Colliers International 2017 4 Second Quarter 2017 Results Summary (US$ millions, except per share amounts) (1) Local currency (“LC”) basis, excluding the effects of foreign currency exchange rate fluctuations. USD LC (1) Revenue 544.2 482.5 13% 15% Adjusted EBITDA 59.6 52.8 13% 16% Adjusted EBITDA M
Slide 5: Second Quarter 2017 Consolidated Revenues
Colliers International 2017 174.4 151.8 172.2 150.9 197.6 179.8 544.2 482.5 2017 2016 5 Outsourcing & Advisory (1) Sales Brokerage Lease Brokerage Q2 Revenue Second Quarter 2017 Consolidated Revenues (US$ millions) (1) Outsourcing & Advisory services include: Corporate Solutions, Valuation & Advisor
Slide 6: Year To Date 2017 Consolidated Revenues
Colliers International 2017 311.2 264.7 294.6 254.3 361.2 339.6 967.1 858.6 2017 2016 6 Outsourcing & Advisory (1) Sales Brokerage Lease Brokerage YTD Revenue Year To Date 2017 Consolidated Revenues (US$ millions) (1) Outsourcing & Advisory services include: Corporate Solutions, Valuation & Advisory
Slide 7: Second Quarter Geographic Split
Colliers International 2017 7 Q2 2017 Adjusted EBITDA (1) Second Quarter Geographic Split (US$ millions) Q2 2017 Revenue Q2 2016 Revenue Q2 2016 Adjusted EBITDA (2) (1) Q2 2017 GAAP Operating Earnings: $22.2M Americas, $11.6M EMEA, $11.4M Asia Pacific (2) Q2 2016 GAAP Operating Earnings: $22.6M Amer
Slide 8: Revenue Americas
Colliers International 2017 ▪ Revenues up 23% in local currencies, with 22 % growth from recent acquisitions and 1% from internal growth ▪ Internal growth impacted by a modest decline in US Sales and Lease Brokerage revenues where transaction volume was flat and average transaction size was down sli
Slide 9: Revenue EMEA
Colliers International 2017 ▪ 6% growth from recent acquisitions and flat internal revenues ▪ Internal revenues impacted by a decline in Outsourcing & Advisory activity, particularly in France with several large project management assignments in the prior year quarter involving the supply and instal
Slide 10: Revenue Asia Pacific
Colliers International 2017 ▪ 3% revenue growth in local currencies, all from internal growth ▪ Internal growth was driven by strong Outsourcing & Advisory revenues offset by modest decline in Sales Brokerage due to several transactions in Australia in the prior year quarter ▪ Adjusted EBITDA reflec
Slide 11: Capitalization & Capital Allocation Overview
Colliers International 2017 11 Highlights ▪ Net debt / pro forma adjusted EBITDA leverage reflects seasonal working capital utilization as well as year to date acquisition spend ▪ Anticipated capital expenditures of $40 - 45 million for full year 2017 Capitalization & Capital Allocation Overview (US
Slide 12: Looking Ahead: 2017 Outlook
Colliers International 2017 ▪ 2017 Outlook o Revenue pipelines for second half of year reflect sustained activity across all service lines o Generally stable conditions in most markets, despite ongoing geopolitical uncertainty o Despite interest rate increases in select regions, rates remain low and
Slide 13: Appendix
Appendix
Slide 14: Reconciliation of GAAP earnings to adjusted EBITDA
Colliers International 2017 Reconciliation of GAAP earnings to adjusted EBITDA 14 (US$ thousands) Net earnings $ 25,522 $ 23,756 $ 31,029 $ 27,787 Income tax 12,584 12,861 16,242 15,931 Other income, net (807) (1,220) (2,036) (1,820) Interest expense, net 3,279 2,227 6,221 4,591 Operating earnings 4
Slide 15: Reconciliation of GAAP earnings to adjusted net earnings and adjusted EPS
Colliers International 2017 Reconciliation of GAAP earnings to adjusted net earnings and adjusted earnings per share 15 (US$ thousands) Net earnings $ 25,522 $ 23,756 $ 31,029 $ 27,787 Non-controlling interest share of earnings (5,003) (5,559) (7,116) (7,973) Amortization of intangible assets 7,915
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