Colliers International Group Inc. · TSX:CIGI
Colliers International — Q2 2022 Earnings Presentation
17 slides from Colliers International's earnings presentation, Aug 3, 2022
Slide 1: Second Quarter 2022 Financial Results
Second Quarter 2022 Financial Results August 3, 2022
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 Highlights (US$ millions, except per share amounts) Three months ended %Change Six months ended % Change 2022 2021 2022 2021 June 30 June 30 USD LC (1) USD LC (1) Revenue 1,127.8 946.0 19% 23% Revenue 2,128.8 1,720.9 24% 27% Adjusted EBITDA 161.3 136.6 18% 21% Adjusted EBITDA 282.8 228.7
Slide 4: Service Diversification
Colliers 4 Trailing Twelve Months Ended June 30, 2022 Service Diversification TTM Q2 2022 Revenue By Service TTM Q2 2022 AEBITDA By Service 23% 45% 39% 25% 50% 55% Recurring Recurring 27% 11% 30% Outsourcing & Advisory Investment Management Leasing Capital Markets Leasing & Capital Markets Shown on
Slide 5: Consolidated Revenues
Colliers 5 Second Quarter % Change over Q2 2021 Investment Management (1) USD 49% LC 50% Consolidated Revenues (US$ millions) Outsourcing & Advisory 22% 27% Leasing 15% 18% 1,127.8 Capital Markets 13% 16% Investment Total 19% 23% Management (1) 75.1 946.0 50.5 Outsourcing & 475.9 Advisory 388.7 Reve
Slide 6: Geographic Mix
Colliers 6 Second Quarter Geographic Mix (US$ millions) Q2 2022 Revenues Q2 2021 Revenues Investment Investment Management Management 75.1 50.5 5% 7% Asia Pacific Asia Pacific 142.6 12% 154.0 16% 66% 62% EMEA 15% Americas 169.3 Americas EMEA 582.8 17% 740.7 158.6 Q2 2022 AEBITDA Q2 2021 AEBITDA Inve
Slide 7: Americas
Colliers 7 Americas Revenue AEBITDA and Margin (US$ millions) (US$ millions) 740.7 Outsourcing & 582.8 Solid growth in Outsourcing & Advisory led 302.0 Advisory by Engineering & Design 226.6 Robust Capital Markets activity, particularly Leasing 214.5 101.6 in industrial and land sales 180.0 78.9 AEB
Slide 8: EMEA
Colliers 8 EMEA Revenue AEBITDA and Margin (US$ millions) (US$ millions) 169.3 158.6 Significant foreign exchange headwinds Outsourcing & impacted revenues 13% Advisory 95.5 77.7 Revenue growth led by Outsourcing & Advisory (including recent acquisition) Leasing 20.6 33.9 35.6 14.4 AEBITDA impacted
Slide 9: APAC
Colliers 9 APAC Revenue AEBITDA and Margin (US$ millions) (US$ millions) 154.0 142.6 Foreign exchange headwinds impacted Outsourcing & revenues 6% Advisory 84.2 78.2 Revenue impacted by COVID-19 lockdowns 20.7 in several Asian markets 19.5 27.4 Leasing 27.3 13.7% 13.4% Capital Markets 37.1 42.4 Q2 2
Slide 10: Investment Management
Colliers 10 Investment Management Revenue AEBITDA and Margin (US$ millions) (US$ millions) 75.1 1.9 Pass-through carried Revenue growth driven by recurring interest management fees and acquisitions 50.5 0.0 AUM of $68.7 billion as of June 30, 2022, up 73.2 significantly from $44.5 billion on June 30
Slide 11: Capitalization & Capital Allocation
Colliers 11 (US$ millions) Capitalization & Capital Allocation June 30, 2022 December 31, 2021 June 30, 2021 Highlights Cash $ 171.3 $ 396.7 $ 147.5 • Leverage ratio of 1.4x Total Debt 1,040.0 531.1 540.1 • Pro forma leverage ratio, including all Net Debt $ 868.7 $ 134.3 $ 392.6 announced acquisitio
Slide 12: 2022 Outlook
Colliers 12 (US$ millions) 2022 Outlook Increased 2022 outlook to reflect the impact of recent acquisitions and operating results year to date Measure Updated Previous Low double digit revenue growth: Low double digit revenue growth: • High-single digit internal growth • Mid-high single digit intern
Slide 13: Appendix: Reconciliation of non-GAAP measures
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 Six months ended (US$ thousands) June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Net earnings (loss) $ 66,731 $ (412,601) $ 88,048 $ (387,794) Income tax 28,610 20,872 44,937 29,719 Other income, including equi
Slide 15: Reconciliation of GAAP earnings to adjusted net earnings and adjusted EPS
Colliers 15 Reconciliation of GAAP earnings to adjusted net earnings and adjusted earnings per share Three months ended Six months ended (US$ thousands) June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Net earnings (loss) $ 66,731 $ (412,601) $ 88,048 $ (387,794) Non-controlling interest shar
Slide 16: Reconciliation of net cash flow from operations to free cash flow
Colliers 16 Reconciliation of net cash flow from operations to free cash flow Three months ended Six months ended (US$ thousands) June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Net cash provided by (used in) operating activities $ 32,399 $ 56,687 $ (248,310) $ 18,548 Contingent acquisition
Slide 17: Other Non-GAAP Measures
Colliers 17 Other Non-GAAP Measures Local currency revenue growth rate and internal revenue growth rate measures Percentage revenue variances presented on a local currency basis are calculated by translating the current period results of our non-US dollar denominated operations to US dollars using t
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