Cbre Group Inc · NYSE:CBRE
Cbre — Investor Presentation (March 2012)
22 slides from Cbre's investor presentation, Mar 6, 2012
Slide 1: CBRE Group, Inc. Investor Presentation March 2012
CBRE Group, Inc. Investor Presentation March 2012
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains statements that are forward looking within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our future growth momentum, operations, financial performance, business outlook and ability to successf
Slide 3: The Global Market Leader
The Global Market Leader Includes affiliate offices. As of December 31, 2011. Based on 2011 revenues versus Jones Lang LaSalle. Scale and Diversity 1.6x nearest competitor3 Thousands of clients; approximately 80% of the Fortune 100 $128.1 billion of transaction activity in 2010 Broad Capabilities #1
Slide 4: Our Objectives, Strategy and Vision
Our Objectives Provide a complete suite of market leading services to property owners and occupiers through a fully integrated global business platform and a managed account strategy Our Strategy Establish and maintain the leading position in every major world city. Establish and maintain the leadin
Slide 5: Diversified revenue spread across broad base of clients
Diversified revenue spread across broad base of clients Diverse Client Base 2011 Revenue by Client Type1 1.Includes activity from ING Clarion Real Estate Securities (CRES), ING REIM Asia and ING REIM Europe beginning July 1, October 3 and October 31, 2011, respectively.
Slide 6: Geographic Diversification
Geographic Diversification #1 commercial real estate services firm in each of the major regions of the world 1.2011 revenue includes $6.7 million of revenue related to discontinued operations. 2.Includes activity from ING CRES, ING REIM Asia and ING REIM Europe beginning July 1, October 3 and Octobe
Slide 7: Revenue Diversification
Revenue Diversification 1.Contractual revenue includes: Property & Facilities Management (14% in 2006 and 35% in 2011), Appraisal & Valuation (7% in 2006 and 6% in 2011), Investment Management (6% in 2006 and 4% in 2011), Development Services (1% in both 2006 and 2011) and Other (1% in 2006 and 2% i
Slide 8: Revenue Breakdown Full Year 2011
Revenue Breakdown Full Year 2011 1.Includes revenue from discontinued operations of $4.4 million and $2.2 million for the three months ended December 31, 2011 and 2010, respectively. 2.Includes revenue from discontinued operations of $6.7 million and $3.9 million for the twelve months ended December
Slide 9: Property and Facilities Management Revenue
Property and Facilities Management Revenue1 ($ in Millions) CAGR = 23% 2 Outsourcing Services 1.Revenue includes property management, facilities management and project management fees. Does not include transaction revenue associated with outsourcing activities. 2.Includes Trammell Crow Company’s rev
Slide 10: #1 Provider of Every Outsourced Real Estate Service
#1 Provider of Every Outsourced Real Estate Service Consulting Property/Facilities Management Project Management Transaction Management Global execution of transactions with a portfolio-wide focus Optimize portfolio Lease administration services Multiple-transaction focus Full service outsourcing Pr
Slide 11: Leasing
Leasing Global Leasing Revenue ($ in Millions) Includes Trammell Crow Company’s revenue for the period from December 20, 2006 through December 31, 2006. As of December 31, 2010. Does not include affiliate offices. 1 Approximately 4,2002 leasing professionals worldwide Tailored service delivery by pr
Slide 12: Office Leasing Market Outlook
Office Leasing Market Outlook Office TW Rent Index; % change versus a year ago Office Vacancy rate; % forecast U.S. Office Rent Forecast and Vacancy
Slide 13: Sales
Sales Global Sales Revenue ($ in Millions) 1.Includes Trammell Crow Company’s revenue for the period from December 20, 2006 through December 31, 2006. 2.As of December 31, 2010. Does not include affiliate offices. Key Facts Approximately 1,5002 investment sales specialists worldwide Specialization a
Slide 14: Global Transaction Volume
Global Transaction Volume Source: CBRE Research, RCA; Data excludes Development sites. Updated for Q4 2011.
Slide 15: Global Investment Management: CBRE Global Investors
Global Investment Management: CBRE Global Investors GIM Revenue2 ($ in Millions) CAGR =18% Assets Under Management ($ in Billions) CAGR =30% Key Facts1 $94.13 billion in assets under management $169.6 million of co-investments As of December 31, 2011. Includes revenues from discontinued operations.
Slide 16: Global Investment Programs
Global Investment Programs Description Assets Under Management1,2 ($ in billions) Typical Fee Structure Separate Accounts $23.3 Management fees Transaction fees Incentive fees Sponsored Funds $38.6 Management fees Transaction fees LP profits Carried interest Unlisted Securities $12.4 Management fees
Slide 17: Revenue and Normalized EBITDA History
($ in Millions) No reimbursements are included for the period 1992 through 1996, as amounts were immaterial. Reimbursements for 1997 through 2001 have been estimated. For 2002 and forward, reimbursements are included. Includes Insignia activity for the period July 23, 2003 through December 31, 2003.
Slide 18: Mandatory Amortization and Maturity Schedule
Mandatory Amortization and Maturity Schedule $ millions 1.$700.0 million revolver facility matures in May 2015. As of December 31, 2011, the outstanding revolver balance was $44.8 million. As of December 31, 2011 1 70 69 75 341 418 458 378 370 350 0.0 250.0 500.0 2012 2013 2014 2015 2016 2017 2018 2
Slide 19: Capitalization
Capitalization 1.Excludes $208.1 million and $26.1 million of cash in consolidated funds and other entities not available for company use at December 31, 2011 and December 31, 2010, respectively. 2.Net of original issue discount of $11.0 million and $12.3 million at December 31, 2011 and 2010, respe
Slide 20: Business Outlook
Business Outlook We believe that we are in a cyclical recovery in commercial real estate with annual growth expected to be similar to our long-term business model This model (on a normalized basis) is: Revenue growth of 7-9% EBITDA growth of 12-14% EPS growth of high-teens to 20% Outsourcing is like
Slide 21: Appendix
Appendix CBRE
Slide 22: Reconciliation of Normalized EBITDA to EBITDA to Net Income (Loss)
Reconciliation of Normalized EBITDA to EBITDA to Net Income (Loss) Notes: 1.Includes EBITDA related to discontinued operations of $14.1 million for the year ended December 31, 2011, $16.4 million for the year ended December 31, 2010, $16.9 million for the year ended December 31, 2008 and $6.5 millio