TORONTO AND PERTH, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Global diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI), announced today that Colliers Engineering & Design Australia ("Colliers Engineering") has entered into a definitive agreement to acquire Pritchard Francis Consulting Pty Limited ("Pritchard Francis"), one of Western Australia's leading multidiscipline engineering consulting firms. Pritchard Francis' senior leadership team will continue to lead the bu ...

Financial Data and Key Metrics Changes - Colliers reported second quarter revenues of $1.1 billion, up 6% year-over-year, with internal growth of 5% overall [11] - Adjusted EBITDA for the second quarter was $156 million, also up 6% from the prior year, with a slight increase in margin to 13.7% [11] - Financial leverage ratio was 2 times as of June 30, expected to rise to 2.5 times in Q3 due to the Englobe acquisition, then decline to approximately 2 times by year-end [13] Business Line Data and Key Metrics Changes - Leasing revenues increased by 13%, driven by strong activity in office and industrial asset classes, with office leasing up 18% globally and 32% in the Americas [8][9] - Capital Markets experienced modest growth for the first time in 24 months, with significant improvement in loan origination activity, particularly in the multifamily asset class [5][9] - Outsourcing and advisory services revenues grew by 5%, with solid pipelines and revenue visibility through the end of the year [9] Market Data and Key Metrics Changes - Strong leasing activity was noted in various regions, including Germany, France, the Netherlands, New Zealand, China, Hong Kong, and India [8] - Industrial leasing was up 11% globally, indicating strength in that sector as well [25] - The capital markets showed a gradual increase in activity, with expectations for normalization in 2025 [20][26] Company Strategy and Development Direction - The acquisition of Englobe positions Colliers as a top player in Canada and aligns with the strategy to increase high-value recurring revenue streams, which now represent 72% of earnings [6][7] - The company plans to realign segment reporting to focus on three growth engines: real estate services, engineering, and investment management [7] - Future growth is expected from public and private sector infrastructure tailwinds and differentiated investment strategies [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in capital markets activity in the latter half of the year, although risks remain for delays [13] - The company maintains its financial outlook for 2024, with expectations of mid- to high single-digit revenue growth in recurring service lines [13] - Management highlighted the strong engagement of employees and the unique culture that drives the company's success [10] Other Important Information - Colliers completed the acquisition of Englobe, enhancing its engineering and project management capabilities [6] - The company has a strong commitment to shareholder value, with a track record of delivering 20% annualized returns [7] Q&A Session Summary Question: Will pro forma historicals be provided for the new reporting structure? - Yes, pro forma historicals will be provided with the Q3 reporting [16] Question: What is the outlook for investment management fundraising? - Fundraising is expected to be weighted towards Q4, with strong pipelines but slightly below initial forecasts for the year [17][18] Question: What is the visibility into capital markets activity for the rest of the year? - Sentiment is shifting positively, with increased activity expected, but normalization may not occur until 2025 [19][20] Question: What is driving the slowdown in Outsourcing & Advisory growth? - The valuation business has been flat due to low capital markets transactions, but overall growth is still expected to be mid to high single-digit [22] Question: How is the Englobe acquisition expected to impact growth? - The acquisition is expected to strengthen Colliers' position in Canada and provide growth opportunities in the U.S. and Europe [43][45]

| --- | --- | --- | --- | |-------|----------------------------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Second Quarter 2024 Financial Results | | | | | | | | Colliers 2 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 i ...

Colliers International (CIGI) came out with quarterly earnings of $1.36 per share, missing the Zacks Consensus Estimate of $1.37 per share. This compares to earnings of $1.31 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -0.73%. A quarter ago, it was expected that this commercial real estate services provider would post earnings of $0.94 per share when it actually produced earnings of $0.77, delivering a surprise of -18.09% ...

About Colliers Christian Mayer Chief Financial Officer Headquartered in Laval, Englobe is a leading engineering and environmental services firm with a wellestablished network of offices and facilities across Canada. The Company's 2,800+ team members include engineers, professionals, technicians and technical support staff. Englobe offers a broad suite of services from engineering, design and inspection to environmental consulting and remediation. It completes over 25,000 projects annually for public and pri ...

A conference call to review these results will take place at 11:00am ET on August 1, 2024 and will be hosted by Jay S. Hennick, Global Chairman & CEO, Chris McLernon, CEO, Real Estate Services and Christian Mayer, CFO. For anyone unable to listen to the scheduled call, the rebroadcast number will be Toll Free – NA 1-877-674- 7070 with passcode 917200#. The rebroadcast will also be available at the above noted web address for 30 days following the call. Colliers (NASDAQ, TSX: CIGI) is a leading diversified p ...

The telephone numbers for this call are: Local – Toronto 1-416-764-8624 and Toll Free – NA 1-888-259-6580 with conference ID 20917200. The conference call will also be accessible via webcast at corporate.colliers.com/en in the "Events" section. A conference call to review these results will take place at 11:00am ET on August 1, 2024 and will be hosted by Jay S. Hennick, Global Chairman & CEO, Chris McLernon, CEO, Real Estate Services and Christian Mayer, CFO. About Colliers TORONTO, July 11, 2024 (GLOBE NEW ...

LONDON and ZURICH, July 10, 2024 (GLOBE NEWSWIRE) -- Colliers, a leading diversified professional services and investment management company, is set to fortify its European presence through a partnership agreement with SPGI Zurich AG. This strategic alignment will see the Switzerland-based commercial property advisor join Colliers' expansive EMEA platform as an affiliate. Robert Hauri, CEO Intercity Group and Co-Owner & CEO SPGI Zurich AG, added: "This partnership will enhance the services we offer to our d ...

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