Colliers International Group Inc. · TSX:CIGI

Colliers International — Q1 2017 Earnings Presentation

14 slides from Colliers International's earnings presentation, May 2, 2017

  1. Slide 1: First Quarter 2017 Financial Results

    Colliers International Group Inc. First Quarter 2017 Financial Results May 2, 2017

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements 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 involve kno

  3. Slide 3: First Quarter 2017 Results

    First Quarter 2017 Results  Strong operating results for first quarter, with solid revenue growth from acquisitions and internally from existing operations  Expanded revolving credit facility to $700 million, and extended maturity date for 5 years to January 2022 o New unsecured structure increase

  4. Slide 4: First Quarter 2017 Results Summary

    First Quarter 2017 Results Summary (US$ millions, except per share amounts) % Change over Q1 2016 Q1 2017 Q1 2016 USD LC(1) Revenue 422.8 376.1 12% 13% Adjusted EBITDA 29.3 22.2 32% 33% Adjusted EBITDA Margin 6.9% 5.9% Adjusted EPS 0.33 0.19 74% GAAP Operating Earnings 10.9 8.9 23% GAAP Operating Ea

  5. Slide 5: First Quarter 2017 Consolidated Revenues

    First Quarter 2017 Consolidated Revenues (US$ millions) Q1 Revenue Outsourcing & Advisory (1) Sales Brokerage Lease Brokerage % Change over Q1 2016 USD LC Revenue Mix 2017 2016 Outsourcing & Advisory 2% 3% Outsourcing & Advisory 39% 43% Sales Brokerage 18% 18% Sales Brokerage 29% 27% Lease Brokerage

  6. Slide 6: First Quarter Geographic Split

    First Quarter Geographic Split (US$ millions) Q1 2017 Revenue Q1 2017 Adjusted EBITDA Q1 2016 Revenue Q1 2016 Adjusted EBITDA 6 Colliers International 2017

  7. Slide 7: Americas

    Americas (US$ millions)  21% revenue growth on a local currency basis with 17% contribution from recent acquisitions and 4% internal revenue growth in local currencies  Internal growth was driven by Outsourcing & Advisory, particularly valuation services and property management  Margins impacted

  8. Slide 8: EMEA

    EMEA (US$ millions)  11% decline in internal revenues in local currencies and 7% growth from recent acquisitions  Internal revenues were impacted by (i) a decline in Outsourcing & Advisory activity, particularly in France with several large project management assignments in the prior year quarter

  9. Slide 9: Asia Pacific

    Asia Pacific (US$ millions)  12% internal revenue growth in local currencies  Revenue growth was concentrated in Lease Brokerage and Sales Brokerage  Foreign exchange tailwinds positively impacted results on a US dollar reporting currency basis by 3%  Adjusted EBITDA benefitted from operating le

  10. Slide 10: Capitalization & Capital Allocation Overview

    Capitalization & Capital Allocation Overview (US$ millions) March 31, 2017 December 31, 2016 March 31, 2016 Highlights Cash $ 97.7 $ 113.1 $ 107.5 Total Debt 405.0 262.5 348.9  Net debt / pro forma adjusted EBITDA leverage reflects seasonal working capital Net Debt $ 307.3 $ 149.4 $ 241.4 utilizati

  11. Slide 11: Looking Ahead

    Looking Ahead  2017 Outlook o Revenue pipelines reflect sustained activity across all service lines o Generally stable conditions in major markets, despite ongoing geopolitical uncertainty o Low double-digit percentage revenue growth in local currency, given acquisitions completed year to date and

  12. Slide 12: Appendix: Reconciliation of non-GAAP measures

    Appendix: Reconciliation of non-GAAP measures

  13. Slide 13: Reconciliation of GAAP earnings to adjusted EBITDA

    Reconciliation of GAAP earnings to adjusted EBITDA Three months ended (US$ thousands) March 31, 2017 March 31, 2016 Net earnings $ 5,506 $ 4,032 Income tax 3,658 3,071 Other income, net (1,229) (600) Interest expense, net 2,942 2,364 Operating earnings 10,877 8,867 Depreciation and amortization 12,0

  14. Slide 14: Reconciliation of GAAP earnings to adjusted net earnings and adjusted earnings per share

    Reconciliation of GAAP earnings to adjusted net earnings and adjusted earnings per share Three months ended (US$ thousands) March 31, 2017 March 31, 2016 Net earnings $ 5,506 $ 4,032 Non-controlling interest share of earnings (2,113) (2,414) Amortization of intangible assets 6,050 5,637 Acquisition-

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