Colliers International Group Inc. · TSX:CIGI
Colliers International — Q1 2017 Earnings Presentation
14 slides from Colliers International's earnings presentation, May 2, 2017
Slide 1: First Quarter 2017 Financial Results
Colliers International Group Inc. First Quarter 2017 Financial Results May 2, 2017
Slide 2: Forward-Looking Statements
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 expectations. These statements inv
Slide 3: First Quarter 2017 Results
Colliers International 2017 ▪ Strong operating results for first quarter, with solid revenue growth from acquisitions and internally from existing operations ▪ Expanded revolving credit facility to $700 million, and extended maturity date for 5 years to January 2022 o New unsecured structure increas
Slide 4: First Quarter 2017 Results Summary
Colliers International 2017 4 Q1 2017 Q1 2016 % Change over Q1 2016 USD LC (1) Revenue 422.8 376.1 12% 13% Adjusted EBITDA 29.3 22.2 32% 33% Adjusted EBITDA Margin 6.9% 5.9% Adjusted EPS 0.33 0.19 74% GAAP Operating Earnings 10.9 8.9 23% GAAP Operating Earnings Margin 2.6% 2.4% GAAP EPS - (0.19) NM
Slide 5: First Quarter 2017 Consolidated Revenues
Colliers International 2017 5 % Change over Q1 2016 USD LC Outsourcing & Advisory 2% 3% Sales Brokerage 18% 18% Lease Brokerage 21% 22% Total 12% 13% Outsourcing & Advisory (1) Sales Brokerage Lease Brokerage First Quarter 2017 Consolidated Revenues (US$ millions) Q1 Revenue (1) Outsourcing & Adviso
Slide 6: First Quarter Geographic Split
Colliers International 2017 6 First Quarter Geographic Split Q1 2016 Revenue Q1 2016 Adjusted EBITDA (US$ millions) Q1 2017 Revenue Q1 2017 Adjusted EBITDA
Slide 7: Americas
Colliers International 2017 ▪ 21% revenue growth on a local currency basis with 17% contribution from recent acquisitions and 4% internal revenue growth in local currencies ▪ Internal growth was driven by Outsourcing & Advisory, particularly valuation services and property management ▪ Margins impac
Slide 8: EMEA
Colliers International 2017 8 4. 1% (0.6%) EMEA (1) Outsourcing & Advisory services include: Corporate Solutions, Valuation & Advisory Services, Property and Asset Management Services, Project Management, Workplace Solutions, Property Marketing and Research Services. (2) GAAP Operating Earnings (Los
Slide 9: Asia Pacific
Colliers International 2017 9 8. 2% 4. 9% Asia Pacific (US$ millions) (1) Outsourcing & Advisory services include: Corporate Solutions, Valuation & Advisory Services, Property and Asset Management Services, Project Management, Workplace Solutions, Property Marketing and Research Services. (2) GAAP O
Slide 10: Capitalization & Capital Allocation Overview
Colliers International 2017 10 Highlights ▪ Net debt / pro forma adjusted EBITDA leverage reflects seasonal working capital utilization and Q1 acquisition spend ▪ Significant Q1 acquisition activity ▪ Anticipated capital expenditures of $40 - 45 million for full year 2017 March 31, 2017 C a s h Marc
Slide 11: Looking Ahead
Colliers International 2017 ▪ 2017 Outlook o Revenue pipelines reflect sustained activity across all service lines o Generally stable conditions in major markets, despite ongoing geopolitical uncertainty o Low double - digit percentage revenue growth in local currency, given acquisitions completed y
Slide 12: Appendix: Reconciliation of non-GAAP measures
Appendix: Reconciliation of non - GAAP measures
Slide 13: Reconciliation of GAAP earnings to adjusted EBITDA
Colliers International 2017 Reconciliation of GAAP earnings to adjusted EBITDA 13 Three months ended (US$ thousands) March 31, 2017 March 31, 2016 Net earnings $ 5,506 $ 4,032 Income tax 3,658 3,071 Other income, net (1,229) (600) Interest expense, net 2,942 2,364 Operating earnings 10,877 8,867 Dep
Slide 14: Reconciliation of GAAP earnings to adjusted net earnings
Colliers International 2017 Three months ended (US$ thousands) March 31, 2017 March 31, 2016 Net earnings $ 5,506 $ 4,032 Non - controlling interest share of earnings (2,113) (2,414) Amortization of intangible assets 6,050 5,637 Acquisition - related items 4,208 1,071 Restructuring costs 734 - Stock
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