Colliers International Group Inc. · TSX:CIGI
Colliers International — Q1 2022 Earnings Presentation
16 slides from Colliers International's earnings presentation, May 3, 2022
Slide 1: First Quarter 2022 Financial Results
First Quarter 2022 Financial Results May 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) Strong first quarter results building on the momentum coming out of 2021 • Revenues up sharply in all service lines Three months ended %Change 2022 2021 March 31 USD LC (1) Revenue 1,000.9 774.9 29% 31% Busy quarter for acquisitions Adju
Slide 4: Service Diversification
Colliers 4 Trailing Twelve Months Ended March 31, 2022 Service Diversification TTM Q1 2022 Revenue By Service TTM Q1 2022 AEBITDA By Service 23% 27% 39% 50% 48% 50% Recurring Recurring 29% 9% 23% Outsourcing & Advisory Investment Management Leasing Capital Markets Leasing & Capital Markets Shown on
Slide 5: Consolidated Revenues
Colliers 5 First Quarter % Change over Q1 2021 Investment Management (1) USD 94% LC 94% Consolidated Revenues (US$ millions) Outsourcing & Advisory 22% 24% Leasing 32% 34% 1,000.9 Capital Markets 25% 27% Investment Total 29% 31% Management (1) 86.4 774.9 Outsourcing & 44.6 Advisory 414.5 340.1 Reven
Slide 6: Geographic Mix
Colliers 6 First Quarter Geographic Mix (US$ millions) Q1 2022 Revenues Q1 2021 Revenues Investment Investment Management Management 86.4 44.6 6% 9% Asia Pacific Asia Pacific 12% 17% 119.4 128.3 64% 61% EMEA 15% Americas Americas 153.3 EMEA 16% 475.8 641.7 126.1 Q1 2022 AEBITDA Q1 2021 AEBITDA Inves
Slide 7: Americas
Colliers 7 Americas Revenue AEBITDA and Margin (US$ millions) (US$ millions) 641.7 Outsourcing & Strong Leasing and Capital Markets activity 260.9 475.8 Advisory Solid growth in Outsourcing & Advisory led 199.5 by Engineering & Design, Valuation and Leasing 188.7 Loan Servicing 81.1 134.2 56.9 Capit
Slide 8: EMEA
Colliers 8 EMEA Revenue AEBITDA and Margin (US$ millions) (US$ millions) 153.3 126.1 Significant foreign exchange headwinds Outsourcing & impacted revenues 8% Advisory 82.1 64.9 Outsourcing & Advisory up on higher project management and property Leasing 30.3 management revenues 25.6 4.9 4.5 Capital
Slide 9: APAC
Colliers 9 APAC Revenue AEBITDA and Margin (US$ millions) (US$ millions) 128.3 119.4 Foreign exchange headwinds impacted Outsourcing & revenues 4% Advisory 75.6 71.3 Revenue decline attributable to COVID-19 lockdowns in several Asian markets 19.9 15.5 Leasing 18.3 10.2 12.1% Capital Markets 29.8 32.
Slide 10: Investment Management
Colliers 10 Investment Management Revenue AEBITDA and Margin (US$ millions) (US$ millions) 86.4 24.7 Pass-through carried Strong growth in recurring management interest fees 44.6 0.0 AUM of $52.4 billion on March 31, 2022, up significantly from $41.6 billion on March 31, Investment 61.6 26.8 2021 Ma
Slide 11: Capitalization & Capital Allocation
Colliers 11 (US$ millions) Capitalization & Capital Allocation March 31, 2022 December 31, 2021 March 31, 2021 Highlights Cash $ 230.4 $ 396.7 $ 118.5 • Leverage ratio of 0.9x Total Debt 714.3 531.1 523.4 • Significant financial capacity for future Net Debt $ 483.9 $ 134.3 $ 404.9 acquisitions (incl
Slide 12: 2022 Outlook
Colliers 12 (US$ millions) 2022 Outlook Increased 2022 outlook to reflect strong first quarter operating results as well as the impact of acquisitions Measure Updated Previous Low double digit revenue growth: High single digit revenue growth: • Mid to high-single digit internal • Mid-single digit in
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 (US$ thousands) March 31, 2022 March 31, 2021 Net earnings $ 21,317 $ 24,807 Income tax 16,327 8,847 Other income, including equity earnings from non-consolidated investments (3,128) (1,982) Interest expense, net 6,318
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 (US$ thousands) March 31, 2022 March 31, 2021 Net earnings $ 21,317 $ 24,807 Non-controlling interest share of earnings (8,516) (7,780) Interest on Convertible Notes 2,300 2,300 Lo
Slide 16: Other Non-GAAP Measures
Colliers 16 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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