Colliers International Group Inc. · TSX:CIGI
Colliers International — Q2 2020 Earnings Presentation
14 slides from Colliers International's earnings presentation, Aug 6, 2020
Slide 1: Second Quarter 2020 Financial Results
April 28, 2020 Colliers International Group Inc. Colliers International Group Inc. First Quarter 2020 Second Quarter Financial 2020 Results Financial Results August 6, 2020
Slide 2: Forward-Looking Statements; Non-GAAP measures
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
Slide 3: Second Quarter 2020 Results
Second Quarter 2020 Results (US$ millions, except per share amounts) Highlights Three months ended %Change Q2 2020 Q2 2019 June 30, 2020 USD LC(1) Resilience during pandemic Revenue 550.2 745.5 -26% -25% • Majority of earnings now come from Investment Adjusted EBITDA 60.0 87.3 -31% -30% Management a
Slide 4: Second Quarter Consolidated Revenues
Second Quarter Consolidated Revenues (US$ millions) Q2 Revenues % Change over Q2 2019 USD LC Investment Management -12% -12% 745.5 Outsourcing & Advisory -9% -6% 46.9 Capital Markets -30% -28% Leasing -46% -45% 550.2 Total -26% -25% Investment 281.6 Management 41.4 55% Recurring Outsourcing & 257.0
Slide 5: Second Quarter Geographic Split
Second Quarter Geographic Split (US$ millions) Q2 2020 Revenues Q2 2020 Adjusted EBITDA1 Investment Management Investment 41.4 8% Management 17.4 29% Americas Asia Pacific 18% 40% 24.4 100.1 56% Americas 308.9 18% 20% EMEA Asia Pacific 99.6 11% 12.3 EMEA 6.3 Q2 2019 Revenues Q2 2019 Adjusted EBITDA2
Slide 6: Americas
Americas (US$ millions) • Revenues down 26% in local currency on reduced Leasing and Capital Markets across the region • Outsourcing & Advisory revenues were flat in local currency • Adjusted EBITDA margin down on lower revenues Revenue Adjusted EBITDA and Margin 421.4 308.9 138.0 Outsourcing & 134.
Slide 7: EMEA
EMEA (US$ millions) • Revenue declined in local currency on lower activity in each service line • Outsourcing & Advisory revenue impacted by delays in executing turnkey project management assignments due to the pandemic Revenue Adjusted EBITDA and Margin 151.6 99.6 76.2 Outsourcing & 56.7 19.0 Advis
Slide 8: Asia Pacific
Asia Pacific (US$ millions) • Revenues down 16% in local currency on lower Leasing and Capital Markets • Outsourcing & Advisory revenues were up slightly in local currency, including incremental revenues from the recent Synergy acquisition Revenue Adjusted EBITDA and Margin 125.1 100.1 67.1 Outsourc
Slide 9: Investment Management
Investment Management (US$ millions) • Revenue decline attributable to a $4.3 million reduction in passthrough revenue from legacy carried interest • Lower adjusted EBITDA attributable to changes in the timing of certain European transaction fees • $35.7 billion of AUM (up 2% from $35.1 billion at M
Slide 10: Balance Sheet & Liquidity
Balance Sheet & Liquidity (US$ millions) Highlights June 30, 2020 December 31, 2019 June 30, 2019 • Conservative financial profile with net debt / Cash $ 147.2 $ 115.0 $ 102.1 pro forma adjusted EBITDA leverage ratio of Total Debt 627.2 611.4 692.4 1.5x at June 30, 2020 Net Debt $ 480.0 $ 496.4 $ 59
Slide 11: Impact of COVID-19 Pandemic
Impact of COVID-19 Pandemic Working assumption for full year 2020 (relative to 2019) • Working assumption previously provided updated to reflect: (i) better than anticipated results for the second quarter across all service lines and regions; and (ii) the recently completed acquisitions of Colliers
Slide 12: Appendix: Reconciliation of non-GAAP measures
April 28, 2020 Colliers International Group Inc. First Quarter 2020 Appendix Financial Results Reconciliation of non-GAAP measures
Slide 13: Reconciliation of net earnings to adjusted EBITDA
1 Appendix 3 Reconciliation of net earnings to adjusted EBITDA Three months ended Six months ended (US$ thousands) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Net earnings $ 6,483 $ 35,575 $ 12,942 $ 41,039 Income tax 2,127 13,187 7,326 14,402 Other income, net (266) 179 (970) (322) Inte
Slide 14: Reconciliation of net earnings to adjusted net earnings and adjusted EPS
1 Appendix 4 Reconciliation of net earnings and diluted net earnings per common share to adjusted net earnings and adjusted EPS Three months ended Six months ended (US$ thousands) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Net earnings $ 6,483 $ 35,575 $ 12,942 $ 41,039 Non-controlling
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