Colliers International Group Inc. · TSX:CIGI
Colliers International — Q2 2017 Earnings Presentation
15 slides from Colliers International's earnings presentation, Aug 1, 2017
Slide 1: Second Quarter 2017 Financial Results
Colliers International Group Inc. Second Quarter 2017 Financial Results August 1, 2017
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
Slide 3: Second Quarter 2017 Results
Second Quarter 2017 Results Revenue up 13% (15% in local currency) and solid increase to earnings Completed acquisition of Colliers Minneapolis-St. Paul, further strengthening operations in the US Midwest, bringing the number of acquisitions completed year-to-date to five Declared semi-annual
Slide 4: Second Quarter 2017 Results Summary
Second Quarter 2017 Results Summary (US$ millions, except per share amounts) % Change over Q2 2016 Q2 2017 Q2 2016 (1) USD LC Revenue 544.2 482.5 13% 15% Adjusted EBITDA 59.6 52.8 13% 16% Adjusted EBITDA Margin 11.0% 10.9% Adjusted EPS 0.76 0.63 21% GAAP Operating Earnings 40.6 37.6 8% GAAP Operatin
Slide 5: Second Quarter 2017 Consolidated Revenues
Second Quarter 2017 Consolidated Revenues (US$ millions) Q2 Revenue 544.2 482.5 Outsourcing & Advisory (1) 197.6 179.8 Sales Brokerage 172.2 150.9 Lease Brokerage 174.4 151.8 2017 2016 % Change over Q2 2016 USD LC Revenue Mix Q2 2017 Q2 2016 Outsourcing & Advisory 10% 13% Outsourcing & Advisory 36%
Slide 6: Year To Date 2017 Consolidated Revenues
Year To Date 2017 Consolidated Revenues (US$ millions) YTD Revenue 967.1 858.6 Outsourcing & Advisory (1) 361.2 339.6 Sales Brokerage 294.6 254.3 Lease Brokerage 311.2 264.7 2017 2016 % Change over YTD 2016 USD LC Revenue Mix 2017 YTD 2016 YTD Outsourcing & Advisory 6% 8% Outsourcing & Advisory 37%
Slide 7: Second Quarter Geographic Split
Second Quarter Geographic Split (US$ millions) Q2 2017 Revenue Q2 2017 Adjusted EBITDA(1) Asia Pacific Asia Pacific 105.1 12.9 19% 21% 51% Americas 22% 59% 32.2 Americas 28% EMEA 118.8 319.8 EMEA 17.3 Q2 2016 Revenue Q2 2016 Adjusted EBITDA(2) Asia Pacific Asia Pacific 102.1 10.5 21% 19% Americas 55
Slide 8: Americas
Americas (US$ millions) Revenues up 23% in local currencies, with 22% growth from recent acquisitions and 1% from internal growth Internal growth impacted by a modest decline in US Sales and Lease Brokerage revenues where transaction volume was flat and average transaction size was down slightly
Slide 9: EMEA
EMEA (US$ millions) 6% growth from recent acquisitions and flat internal revenues Internal revenues impacted by a decline in Outsourcing & Advisory activity, particularly in France with several large project management assignments in the prior year quarter involving the supply and installation o
Slide 10: Asia Pacific
Asia Pacific (US$ millions) 3% revenue growth in local currencies, all from internal growth Internal growth was driven by strong Outsourcing & Advisory revenues offset by modest decline in Sales Brokerage due to several transactions in Australia in the prior year quarter Adjusted EBITDA reflec
Slide 11: Capitalization & Capital Allocation Overview
Capitalization & Capital Allocation Overview (US$ millions) June 30, 2017 December 31, 2016 June 30, 2016 Highlights Cash $ 123.0 $ 113.1 $ 96.7 Net debt / pro forma adjusted EBITDA Total Debt 427.4 262.5 339.5 leverage reflects seasonal working capital Net Debt $ 304.4 $ 149.4 $ 242.8 utilization
Slide 12: Looking Ahead
Looking Ahead 2017 Outlook o Revenue pipelines for second half of year reflect sustained activity across all service lines o Generally stable conditions in most markets, despite ongoing geopolitical uncertainty o Despite interest rate increases in select regions, rates remain low and unlikely to i
Slide 13: Appendix
Appendix
Slide 14: Reconciliation of GAAP earnings to adjusted EBITDA
Reconciliation of GAAP earnings to adjusted EBITDA Three months ended Six months ended (US$ thousands) June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Net earnings $ 25,522 $ 23,756 $ 31,029 $ 27,787 Income tax 12,584 12,861 16,242 15,931 Other income, net (807) (1,220) (2,036) (1,820) Inter
Slide 15: 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 Six months ended (US$ thousands) June 30, 2017 June 30, 2016 June 30, 2017 June 30, 2016 Net earnings $ 25,522 $ 23,756 $ 31,029 $ 27,787 Non-controlling interest share of earnings (5,003) (5,
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