Colliers International Group Inc. · TSX:CIGI
Colliers International — Q1 2018 Earnings Presentation
14 slides from Colliers International's earnings presentation, May 1, 2018
Slide 1: First Quarter 2018 Financial Results
Colliers International Group Inc. First Quarter 2018 Financial Results May 1, 2018
Slide 2: Forward-Looking Statements
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 expectations. These statements inv
Slide 3: First Quarter 2018 Results
Colliers International 2018 ▪ Strong first quarter results, with balanced revenue growth from acquisitions and internally ▪ Quarterly revenues up 18% (14% in local currencies) with internal growth of 6% ▪ Adjusted EPS of $0.45, up 25% from the prior year quarter ▪ Expanded revolving credit facility
Slide 4: First Quarter 2018 Results Summary
Colliers International 2018 4 First Quarter 2018 Results Summary (US$ millions, except per share amounts) (1) Local currency (“LC”) basis, excluding the effects of foreign currency exchange rate fluctuations. USD LC (1) Revenue 552 . 5 466.3 18% 14% Adjusted EBITDA 36 . 1 31.3 16% 14% Adjusted EBITD
Slide 5: First Quarter 2018 Consolidated Revenues
Colliers International 2018 167.7 144.8 143.0 122.4 241.7 199.0 2 0 18 2 0 17 5 Outsourcing & Advisory (1) Sales Brokerage Lease Brokerage Q1 Revenue 552.5 466 . 3 First Quarter 2018 Consolidated Revenues (US$ millions) (1) Outsourcing & Advisory services include: Corporate Solutions, Valuation & Ad
Slide 6: First Quarter Geographic Split
Colliers International 2018 6 Q1 2018 Adjusted EBITDA (1) First Quarter Geographic Split (US$ millions) Q1 2018 Revenue (1) Q1 2018 GAAP Operating Earnings (Loss): $20.0M Americas, ($9.6M) EMEA, $9.4M Asia Pacific (2) Q1 2017 GAAP Operating Earnings (Loss): $12.7M Americas, ($1.0M) EMEA, $5.5M Asia
Slide 7: Revenue Americas
Colliers International 2018 7 R e v e nue Amer i cas (US$ millions) ▪ Revenues up 15% in local currencies, with 8% growth from recent acquisitions and 7% from internal growth ▪ Internal growth was spread evenly across all three service lines, with strong contribution from Canadian operations ▪ Adjus
Slide 8: Revenue EMEA
Colliers International 2018 3 . 7 115.7 68.2 90.8 49.8 23.6 20.4 23.9 20.6 Q1 2018 8 R e v e nue EMEA (US$ millions) ▪ Revenues up 11% in local currencies, 13% growth from recent acquisitions offset by a 2% decline in internal revenues ▪ Internal revenues were impacted by a decline in Sales Brokerag
Slide 9: Revenue Asia Pacific
Colliers International 2018 ▪ Revenues up 14% in local currencies, with 12% from internal growth and 2% growth from a recent acquisition ▪ Internal growth was driven by notable increases in Sales Brokerage activity in Hong Kong and China as well as strong Lease Brokerage throughout the region, inclu
Slide 10: Capitalization & Capital Allocation Overview
Colliers International 2018 10 Highlights ▪ Net debt / pro forma adjusted EBITDA leverage of 1.3x at March 31, 2018 down from 1.4x in the prior year comparable period ▪ Strong first quarter acquisition momentum continued subsequent to quarter end with Salt Lake City and Winnipeg acquisitions ▪ Expan
Slide 11: Looking Ahead
Colliers International 2018 ▪ 2018 Outlook o Predicated on stable market conditions, including modest economic growth and increases to interest rates o Low to mid single - digit percentage internal revenue growth on full year basis plus mid single - digit revenue growth due to acquisitions o Adjuste
Slide 12: Appendix: Reconciliation of non-GAAP measures
Appendix: Reconciliation of non - GAAP measures
Slide 13: Reconciliation of GAAP earnings to adjusted EBITDA
Colliers International 2018 Reconciliation of GAAP earnings to adjusted EBITDA 13 (US$ thousands) Three months ended March 31, 2018 March 31, 2017 Net earnings $ 8 , 541 $ 6 , 800 Income tax 4 , 716 4 , 327 Other income, net ( 427) ( 1 , 229) Interest expense, net 2 , 915 2 , 942 Operating earnings
Slide 14: Reconciliation of GAAP earnings to adjusted net earnings and adjusted EPS
Reconciliation of GAAP earnings to adjusted net earnings and adjusted earnings per share Three months ended (US$ thousands) March 31, 2018 March 31, 2017 Net earnings $ 8 , 541 $ 6 , 800 Non - controlling interest share of earnings ( 670) ( 2 , 202) Amortization of intangible assets 8 , 588 6 , 050
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