Colliers International Group Inc. · TSX:CIGI

Colliers International — Q3 2016 Earnings Presentation

14 slides from Colliers International's earnings presentation, Oct 28, 2016

  1. Slide 1: Third Quarter 2016 Financial Results

    Colliers International Group Inc. Third Quarter 2016 Financial Results October 28, 2016

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements Certain statements included herein constitute “forward‐looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward‐looking statements involve known and unknown risks, uncertainties and other factors which may cause the

  3. Slide 3: Third Quarter 2016

    Third Quarter 2016  Operating results for third quarter o Very strong Q3 2015 results made for tough comparison o Challenging market conditions in the UK and Western Europe o Change in revenue mix impacted margins in Americas and EMEA o Strong internal growth in Asia Pacific region  Completed thre

  4. Slide 4: Third Quarter 2016 Results Summary

    Third Quarter 2016 Results Summary (US$ millions, except per share amounts) % Change over Q3 2015 Q3 2016 Q3 2015 USD LC Revenue 462.1 420.3 10% 11% Adjusted EBITDA 37.6 43.0 (13%) (13%) Adjusted EBITDA Margin 8.1% 10.2% Adjusted EPS 0.40 0.52 (23%) GAAP Operating Earnings 23.6 29.8 (21%) GAAP Opera

  5. Slide 5: Third Quarter 2016 Consolidated Revenues

    Third Quarter 2016 Consolidated Revenues (US$ millions) Q3 Revenue YTD Revenue Outsourcing & Advisory (1) Sales Brokerage Lease Brokerage % Change over Q3 2015 USD LC % Change over YTD 2015 USD LC Outsourcing & Advisory 17% 18% Outsourcing & Advisory 17% 20% Sales Brokerage 4% 3% Sales Brokerage 13%

  6. Slide 6: Third Quarter Geographic Split

    Third Quarter Geographic Split (US$ millions) Q3 2016 Revenue Q3 2016 Adjusted EBITDA(1) Q3 2015 Revenue Q3 2015 Adjusted EBITDA(2) 6 Colliers International 2016 (1) Q3 2016 GAAP Operating Earnings: $22.6M Americas, $4.5M EMEA, $13.1 Asia Pacific (2) Q3 2015 GAAP Operating Earnings: $17.9M Americas,

  7. Slide 7: Americas

    Americas (US$ millions)  Internal revenue flat relative to strong results in prior year quarter  Adjusted EBITDA margin impacted by a reduction in broker productivity resulting from smaller average brokerage transaction sizes, as well as a greater proportion of more stable Outsourcing & Advisory r

  8. Slide 8: EMEA

    EMEA (US$ millions)  1% internal revenue decline in local currencies  Internal revenues were impacted by a decline in Sales Brokerage, reflecting both the strong comparative quarter in 2015 and the effect of the June 2016 “Brexit” referendum, largely offset by a 15% increase in Outsourcing and Adv

  9. Slide 9: Asia Pacific

    Asia Pacific (US$ millions)  9% revenue growth in local currencies, entirely from internal growth  All three service lines contributed to growth  Prior year quarter results impacted by recruiting costs and transaction costs for an acquisition that was ultimately not completed Revenue Adjusted EBI

  10. Slide 10: Capitalization & Capital Allocation Overview

    Capitalization & Capital Allocation Overview (US$ millions) September 30, 2016 December 31, 2015 Highlights Cash $ 108.9 $ 116.2  $525 million multi-currency credit facility put in Total Debt 335.8 260.9 place on June 1, 2015 with 5 year term Net Debt $ 226.9 $ 144.8 Redeemable non-controlling  Ne

  11. Slide 11: Looking Ahead

    Looking Ahead  Q4 Outlook o Revenue pipelines strong, but some uncertainty around completion and timing o Expect both revenues and profits to exceed the record results achieved in Q4 2015  Q4 Focus o Continue to pursue select recruits in key markets o Continue to strategically invest in global pla

  12. Slide 12: Appendix

    Appendix

  13. Slide 13: Reconciliation of GAAP earnings to adjusted EBITDA

    Reconciliation of GAAP earnings to adjusted EBITDA Three months ended Nine months ended (US$ thousands) September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Net earnings (loss) from continuing operations $ 13,461 $ 18,414 $ 41,250 $ (2,904) Income tax 8,207 9,226 24,138 12,076

  14. Slide 14: 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, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Net earnings (loss) from continuing operations $ 13,461 $ 18,414 $ 41,250 $ (2,903

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