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
Forward-Looking Statements 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 involve kno
Slide 3: Third Quarter 2017 Results
Third Quarter 2017 Results 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-to
Slide 4: Third Quarter 2017 Results Summary
Third Quarter 2017 Results Summary (US$ millions, except per share amounts) % Change over Q3 2016 Q3 2017 Q3 2016 (1) USD LC Revenue 574.1 462.1 24% 22% Adjusted EBITDA 52.2 37.6 39% 34% Adjusted EBITDA Margin 9.1% 8.1% Adjusted EPS 0.61 0.40 53% GAAP Operating Earnings 31.4 23.6 33% GAAP Operating
Slide 5: Third Quarter 2017 Consolidated Revenues
Third Quarter 2017 Consolidated Revenues (US$ millions) Q3 Revenue 574.1 462.1 Outsourcing & Advisory (1) 197.6 180.2 Sales Brokerage 188.4 133.9 Lease Brokerage 188.0 148.0 2017 2016 % Change over Q3 2016 USD LC Revenue Mix Q3 2017 Q3 2016 Outsourcing & Advisory 10% 8% Outsourcing & Advisory 34% 39
Slide 6: Year To Date 2017 Consolidated Revenues
Year To Date 2017 Consolidated Revenues (US$ millions) YTD Revenue 1,541.1 1,320.7 558.8 Outsourcing & Advisory (1) 519.9 483.1 Sales Brokerage 388.2 Lease Brokerage 499.3 412.6 2017 2016 % Change over YTD 2016 USD LC Revenue Mix 2017 YTD 2016 YTD Outsourcing & Advisory 7% 8% Outsourcing & Advisory
Slide 7: Third Quarter Geographic Split
Third Quarter Geographic Split (US$ millions) Q3 2017 Revenue Q3 2017 Adjusted EBITDA(1) Asia Pacific 113.0 Asia Pacific 14.2 20% 26% 53% Americas 22% 58% 29.1 Americas 21% EMEA 330.9 129.7 EMEA 11.2 Q3 2016 Revenue Q3 2016 Adjusted EBITDA(2) Asia Pacific 98.6 Asia Pacific 13.2 21% 33% 56% Americas
Slide 8: Americas
Americas (US$ millions) 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 service li
Slide 9: EMEA
EMEA (US$ millions) 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 prior ye
Slide 10: Asia Pacific
Asia Pacific (US$ millions) 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
Capitalization & Capital Allocation Overview (US$ millions) September 30, 2017 December 31, 2016 September 30, 2016 Highlights Cash $ 109.8 $ 113.1 $ 108.9 Net debt / pro forma adjusted EBITDA Total Debt 371.9 262.5 335.8 leverage reflects seasonal working capital Net Debt $ 262.1 $ 149.4 $ 226.9
Slide 12: Looking Ahead
Looking Ahead 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 growth on full ye
Slide 13: Appendix
Appendix
Slide 14: Reconciliation of GAAP earnings to adjusted EBITDA
Reconciliation of GAAP earnings to adjusted EBITDA Three months ended Nine months ended (US$ thousands) September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 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) (2,3
Slide 15: Reconciliation of GAAP earnings to adjusted net earnings and adjusted earnings per share
Reconciliation of GAAP earnings to adjusted net earnings and adjusted earnings per share Three months ended Nine months ended (US$ thousands) September 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Net earnings $ 18,316 $ 13,461 $ 49,344 $ 41,250 Non-controlling interest share of
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