Colliers International Group Inc. · TSX:CIGI
Colliers International — Q3 2017 Earnings Presentation
15 slides from Colliers International's earnings presentation, Oct 31, 2017
Slide 1: Third Quarter 2017 Financial Results
Colliers International Group Inc. Third Quarter 2017 Financial Results October 31, 2017
Slide 2: Forward-Looking Statements
Colliers International 2017 Forward - Looking Statements 2 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 expect
Slide 3: Third Quarter 2017 Results
Colliers International 2017 ▪ Quarterly revenues up 24% (22% in local currencies) ▪ Year to date revenues up 17% (17% in local currencies) ▪ Completed acquisition of Australian project management firm and Washington, D.C. tenant advisory practice, bringing the number of acquisitions completed year -
Slide 4: Third Quarter 2017 Results Summary
Colliers International 2017 4 Third Quarter 2017 Results Summary (US$ millions, except per share amounts) (1) Local currency (“LC”) basis, excluding the effects of foreign currency exchange rate fluctuations. USD LC (1) Revenue 574.1 462.1 24% 22% Adjusted EBITDA 52.2 37.6 39% 34% Adjusted EBITDA Ma
Slide 5: Third Quarter 2017 Consolidated Revenues
Colliers International 2017 188.0 148.0 188.4 133.9 197.6 180.2 574.1 462.1 2017 2016 5 Outsourcing & Advisory (1) Sales Brokerage Lease Brokerage Q3 Revenue Third Quarter 2017 Consolidated Revenues (US$ millions) (1) Outsourcing & Advisory services include: Corporate Solutions, Valuation & Advisory
Slide 6: Year To Date 2017 Consolidated Revenues
Colliers International 2017 499.3 412.6 483.1 388.2 558.8 519.9 1,541.1 1,320.7 2017 2016 6 Outsourcing & Advisory (1) Sales Brokerage Lease Brokerage YTD Revenue Year To Date 2017 Consolidated Revenues (US$ millions) (1) Outsourcing & Advisory services include: Corporate Solutions, Valuation & Advi
Slide 7: Third Quarter Geographic Split
Colliers International 2017 7 Q3 2017 Adjusted EBITDA (1) Third Quarter Geographic Split (US$ millions) Q3 2017 Revenue Q3 2016 Revenue Q3 2016 Adjusted EBITDA (2) (1) Q3 2017 GAAP Operating Earnings (Loss): $19.4M Americas, $6.3M EMEA, $12.7M Asia Pacific (2) Q3 2016 GAAP Operating Earnings (Loss):
Slide 8: Americas Revenue and Adjusted EBITDA
Colliers International 2017 ▪ Revenues up 28% in local currencies, with 20% growth from recent acquisitions and 8% from internal growth ▪ Internal growth was driven by Lease Brokerage, with several significant office leasing transactions completed in major markets and strong growth across all servic
Slide 9: EMEA Revenue and Adjusted EBITDA
Colliers International 2017 ▪ Revenues up 18% in local currencies, with 11% from internal growth and 7% growth from recent acquisitions ▪ Internal revenues benefited from a rebound in Sales Brokerage activity in the UK and the rest of Western Europe, relative to unusually low activity levels in the
Slide 10: Asia Pacific Revenue and Adjusted EBITDA
Colliers International 2017 ▪ Revenues up 12% in local currencies, with 11% from internal growth and 1% growth from recent acquisitions ▪ Internal growth was driven by notable increases in Sales Brokerage activity in Hong Kong and China as well as strong Outsourcing & Advisory throughout the region
Slide 11: Capitalization & Capital Allocation Overview
Colliers International 2017 11 Highlights ▪ Net debt / pro forma adjusted EBITDA leverage reflects seasonal working capital utilization ▪ Anticipated capital expenditures of $40 - 45 million for full year 2017 driven by investments in office space and software Capitalization & Capital Allocation Ove
Slide 12: Looking Ahead
Colliers International 2017 ▪ 2017 Outlook o Expect solid fourth quarter and finish to the year, given continuing stable market conditions o Mid teen percentage revenue growth in local currency, based on acquisitions completed year to date, as well as low single - digit percentage internal revenue g
Slide 13: Appendix
Appendix
Slide 14: Reconciliation of GAAP earnings to adjusted EBITDA
Colliers International 2017 Reconciliation of GAAP earnings to adjusted EBITDA 14 (US$ thousands) Net earnings $ 18,316 $ 13,461 $ 49,344 $ 41,250 Income tax 9,952 8,207 26,194 24,138 Other income, net (332) (362) (2,368) (2,183) Interest expense, net 3,487 2,321 9,708 6,913 Operating earnings 31,42
Slide 15: Reconciliation of GAAP earnings to adjusted net earnings and adjusted EPS
Colliers International 2017 Reconciliation of GAAP earnings to adjusted net earnings and adjusted earnings per share 15 (US$ thousands) Net earnings $ 18,316 $ 13,461 $ 49,344 $ 41,250 Non-controlling interest share of earnings (5,348) (3,286) (12,464) (11,259) Amortization of intangible assets 6,18
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