Cbre Group Inc · NYSE:CBRE
Cbre — Investor Presentation (May 2012)
23 slides from Cbre's investor presentation, May 15, 2012
Slide 1: CBRE Group, Inc. Investor Presentation May 2012
CBRE Group, Inc. Investor Presentation May 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 our ability to inte
Slide 3: The Global Market Leader
The Global Market Leader 1. Includes affiliate offices. 2. As of March 31, 2012. 3. Based on 2011 revenues versus Jones Lang LaSalle. Scale and Diversity 1.6x nearest competitor3 Thousands of clients; approximately 80% of the Fortune 100 $159.0 billion of transaction activity in 2011 Broad Capabilit
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: Diverse Client Base
Diversified revenue spread across broad base of clients Diverse Client Base 2011 Revenue by Client Type1 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. 2011 Revenue by Client Type1 Co
Slide 6: Geographic Diversification
Geographic Diversification #1 commercial real estate services firm in each of the major regions of the world LTM 3/31/12 revenue of $6.1 billion includes $5.7 million of revenue related to discontinued operations. Includes activity from ING CRES, ING REIM Asia and ING REIM Europe beginning July 1, O
Slide 7: Revenue Diversification
Revenue Diversification 1. Contractual revenue includes: Property & Facilities Management (14% in 2006 and 34% in LTM 3/31/12), Appraisal & Valuation (7% in 2006 and 6% in LTM 3/31/12), Investment Management (6% in 2006 and 5% in LTM 3/31/12), Development Services (1% in both 2006 and LTM 3/31/12) a
Slide 8: Revenue Breakdown 1st Quarter 2012
Revenue Breakdown 1st Quarter 2012 1. Includes revenue from discontinued operations of $1.0 million for the three months ended March 31, 2011. 39% 27% 13% 9% 6% 4% 1% 1% ($ in millions) Three months ended March 31, Property & Facilities Management Leasing Sales Investment Management Appraisal & Valu
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 r
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) 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. 1 Approximately 4,2002 leasing professionals worldwide Tailored service delivery
Slide 12: Office Leasing Market Outlook
Office Leasing Market Outlook forecast Office TW Rent Index; % change versus a year ago Office Vacancy rate; % 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. 1 Key Facts Approximately 1,5002 investment sales specialists worldwide Specializati
Slide 14: Global Transaction Volume
Global Transaction Volume Source: CBRE Research (EMEA and Asia Pacific), RCA (Americas); Data excludes Development sites. Updated for Q1 2012. Regional Volume, $ in Billions Global Volume, $ in Billions $140 $120 $100 $80 $60 $40 $20 $0 $0 $50 $100 $150 $200 $250 2007.1 2007.2 2007.1 2007.3 2007.1 2
Slide 15: Global Investment Management: CBRE Global Investors
Global Investment Management: CBRE Global Investors GIM Revenue2 ($ in Millions) CAGR =18% Assets Under Management4 ($ in Billions) CAGR =29% Highlights1 ING REIM integration proceeding on schedule $95.9 billion in assets under management $176.9 million of co-investments As of March 31, 2012. Includ
Slide 16: Global Investment Programs
Global Investment Programs Description Assets Under Management1,2 ($ in billions) Typical Fee Structure Separate Accounts $23.7 Management fees Transaction fees Incentive fees Sponsored Funds $38.1 Management fees Transaction fees LP profits Carried interest Unlisted Securities $12.4 Management fees
Slide 17: Development Services: Trammell Crow Company
Development Services: Trammell Crow Company Revenue1 ($ in Millions) 1. Includes Trammell Crow Company’s operations prior to the acquisition of Trammell Crow Company on December 20, 2006. Also includes revenue from discontinued operations. 2. In Process figures include Long-Term Operating Assets (LT
Slide 18: ($ in Millions) 1. No reimbursements are included for the period 1992 through 1996,
($ in Millions) 1. 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. 2. Includes Insignia activity for the period July 23, 2003 through December 31,
Slide 19: Mandatory Amortization and Maturity Schedule
Mandatory Amortization and Maturity Schedule $ millions 1. $700.0 million revolver facility matures in May 2015. As of March 31, 2012, the outstanding revolver balance was $34.9 million. As of March 31, 2012 1 53 69 75 331 418 458 378 370 350 0.0 250.0 500.0 2012 2013 2014 2015 2016 2017 2018 2019 2
Slide 20: Capitalization
Capitalization 1. Excludes $96.6 million and $208.1 million of cash in consolidated funds and other entities not available for Company use at March 31, 2012 and December 31, 2011, respectively. 2. Increase was due to currency translation. 3. Net of original issue discount of $10.6 million and $11.0
Slide 21: Business Outlook
Business Outlook The cyclical recovery in commercial real estate continues to be incremental and uneven Outsourcing is likely to continue to pace our overall growth rate Leasing growth rates across the globe should continue to be modest Global investment sales will be highly dependent on regional ma
Slide 22: Appendix
Appendix CBRE
Slide 23: 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 $13.1 million for the twelve months ended March 31, 2012, $14.1 million for the year ended December 31, 2011, $16.4 million for the year ended December 31, 2010, $16.9 m