Colliers International Group Inc. · TSX:CIGI
Colliers International — Q3 2022 Earnings Presentation
18 slides from Colliers International's earnings presentation, Nov 1, 2022
Slide 1: Third Quarter 2022 Financial Results
Third Quarter 2022 Financial Results November 1, 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) Th ree mo n th s en ded %Ch an ge Nin e mo n th s en ded % Ch an ge 2022 2021 2022 2021 September 30 September 30 USD LC (1) USD LC (1) Re v e nue 1,108.3 1,022.8 8% 12% Re v e nue 3,237.1 2,743.7 18% 21% Adj us te d E B ITDA 145.1 123.6
Slide 4: Broad Diversification
Colliers 4 Trailing Twelve Months Ended September 30, 2022 Broad Diversification TTM Q3 2022 Revenue By Service TTM Q3 2022 AEBITDA By Service 23% 28% 40% 45% 51% 55% Recurring Recurring 26% 11% 27% Outsourcing & Advisory Investment Management Leasing Capital Markets Leasing & Capital Markets Shown
Slide 5: Consolidated Revenues
Colliers 5 Third Quarter % Change over Q3 2021 Investment Management (1) USD 23% LC 23% Consolidated Revenues (US$ millions) Outsourcing & Advisory 18% 24% Leasing 13% 16% Capital Markets -11% -8% Investment 1,108.3 Total 8% 12% Management (1) 1,022.8 96.1 78.3 Outsourcing & Advisory 462.8 390.9 Rev
Slide 6: Geographic Mix
Colliers 6 Third Quarter Geographic Mix (US$ millions) Q3 2022 Revenues Q3 2021 Revenues Investment Investment Management Management 96.1 8% 78.3 8% Asia Pacific Asia Pacific 152.8 14% 172.3 17% 63% 60% Americas Americas EMEA 15% 617.1 695.1 EMEA 15% 164.2 154.9 Q3 2022 AEBITDA Q3 2021 AEBITDA Inves
Slide 7: Americas
Colliers 7 Americas Revenue AEBITDA and Margin (US$ millions) (US$ millions) 695.1 617.1 Growth led by Outsourcing & Advisory, Outsourcing & 289.8 particularly Engineering & Design (including 228.7 Advisory recent acquisitions) Leasing benefitted from increased office Leasing 210.6 175.0 and industr
Slide 8: EMEA
Colliers 8 EMEA Revenue AEBITDA and Margin (US$ millions) (US$ millions) 164.2 154.9 Significant foreign exchange headwinds impacted revenues 17% Outsourcing & 93.8 79.8 Advisory LC Growth across all services lines but unevenly distributed across countries Leasing 32.1 34.7 15.0 13.3 Capital Markets
Slide 9: APAC
Colliers 9 APAC Revenue AEBITDA and Margin (US$ millions) (US$ millions) 172.3 152.8 Foreign exchange headwinds impacted 82.3 revenues 7% Outsourcing & 79.1 Advisory Revenue impacted by COVID-19 restrictions in several Asian markets and delays in 33.2 21.1 20.7 certain transactions 31.1 Leasing 56.9
Slide 10: Investment Management
Colliers 10 Investment Management Revenue AEBITDA and Margin (US$ millions) (US$ millions) 96.1 78.3 Revenue growth driven by acquisitions and management fee growth from increased 18.6 AUM Pass-through carried interest 96.1 AUM of $86.2 billion as of September 30, Investment 36.9 2022 ($92.2 billion
Slide 11: Investment Management: Long-duration, differentiated AUM
Colliers 11 Investment Management Focus on long-duration, highly differentiated AUM AUM: $92.2B FPAUM: $51.2B AUM by Asset Class AUM by Strategy AUM by Geography 52% 38% 18% 78% 22% 47% 15% 30% Alternatives Infrastructure Traditional Real Estate Perpetual Capital Long-dated Funds Managed Accounts No
Slide 12: Capitalization & Capital Allocation
Colliers 12 (US$ millions) Capitalization & Capital Allocation September 30, 2022 December 31, 2021 September 30, 2021 Highlights Cash $ 190.5 $ 396.7 $ 134.1 • Leverage ratio of 1.5x Total Debt 1,152.3 531.1 378.7 • Pro forma leverage ratio, including all Net Debt $ 961.7 $ 134.3 $ 244.6 announced
Slide 13: 2022 Outlook
Colliers 13 (US$ millions) 2022 Outlook Adjusted to reflect year to date operating results, contributions from recent acquisitions, the operating impact of rising global interest rates and geopolitical uncertainties as well as adverse foreign exchange impacts on AEPS Measure Updated Previous Low dou
Slide 14: Appendix: Reconciliation of non-GAAP measures
14 Appendix Reconciliation of non-GAAP measures
Slide 15: Reconciliation of GAAP earnings to adjusted EBITDA
Colliers 15 Reconciliation of GAAP earnings to adjusted EBITDA Three months ended Nine months ended (US$ thousands) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Net earnings (loss) $ 44,524 $ 50,496 $ 132,572 $ (337,298) Income tax 25,097 18,771 70,034 48,490 Other inc
Slide 16: Reconciliation of GAAP earnings to adjusted net earnings and adjusted EPS
Colliers 16 Reconciliation of GAAP earnings to adjusted net earnings and adjusted earnings per share Three months ended Nine months ended (US$ thousands) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Net earnings (loss) $ 44,524 $ 50,496 $ 132,572 $ (337,298) Non-contro
Slide 17: Reconciliation of net cash flow from operations to free cash flow
Colliers 17 Reconciliation of net cash flow from operations to free cash flow Three months ended Nine months ended (US$ thousands) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Net cash provided by (used in) operating activities $ 76,840 $ 192,524 $ (171,470) $ 211,072
Slide 18: Other Non-GAAP Measures
Colliers 18 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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