Colliers International(CIGI)

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Colliers International(CIGI) - 2024 Q4 - Earnings Call Transcript
2025-02-06 21:25
Financial Data and Key Metrics Changes - Revenues for Q4 2024 were $1.5 billion, up 22% compared to the prior year period [14] - Adjusted EBITDA for Q4 was $225 million, up 14% over the prior year [15] - Local currency internal growth was 10% overall, led by capital markets and engineering [15] Business Line Data and Key Metrics Changes - Real estate services operations had 13% revenue growth, with capital markets up 25% [16] - Engineering revenues grew by 61%, primarily from acquisitions and high single-digit internal growth [17] - Investment management revenues increased by 6%, with Q4 EBITDA up 1% [18] Market Data and Key Metrics Changes - Capital markets growth was driven by increased transaction activity in office and industrial asset classes in Europe and the Americas, while Asia Pacific faced declines in China, Hong Kong, and South Korea [16] - Leasing revenues were up 14% globally, with notable increases in office, industrial, and retail asset classes [17] Company Strategy and Development Direction - The company aims for solid growth in 2025, supported by a decentralized culture and long-term incentive programs [7][8] - Plans to streamline investment management operations to leverage synergies faster than anticipated [12] - The company is positioned to become one of the world's largest mid-market alternative asset managers with about $100 billion in assets under management [12] Management's Comments on Operating Environment and Future Outlook - Management expects a cyclical recovery in capital markets as interest rates and asset valuations stabilize [9] - The outlook for 2025 includes high single-digit to low teens percentage revenue growth and low teens adjusted EBITDA and EPS growth [25] - Management acknowledges potential headwinds from foreign exchange rates impacting revenue growth [23][70] Other Important Information - The company raised $1.3 billion in new capital commitments during Q4, bringing full-year fundraising to $3.8 billion [19] - Assets under management at year-end were $98.9 billion, with expectations to surpass $100 billion in 2025 [19][138] Q&A Session Summary Question: Can you provide more color on the engineering integration and pricing? - Integration has been straightforward, particularly with EnGlobe in Canada, and results are better than expected [30] Question: What are the capital raising goals for investment management? - Expected to raise between $5 billion and $8 billion in 2025, with new fund vintages launching [37] Question: How do you expect engineering margins to evolve? - A 150 basis point margin increase is expected in 2025 due to higher margin acquisitions [43] Question: What is the outlook for capital markets growth? - High single-digit growth is anticipated, influenced by macroeconomic factors and trade policies [71][108] Question: Is there potential for a spin-off of the investment management business? - No decisions have been made, but optionality exists depending on revenue growth and profitability momentum [102] Question: How is the company positioned against larger competitors in fundraising? - The company believes it can achieve better returns in the mid-market and is streamlining operations for competitive advantage [91][94]
Colliers International(CIGI) - 2024 Q4 - Earnings Call Presentation
2025-02-06 18:00
This presentation does not constitute an offer to sell or a solicitation of an offer to purchase an interest in any fund. Revised Operating Segments February 6 , 2025 Fourth 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 involve ...
Colliers International (CIGI) Lags Q4 Earnings Estimates
ZACKS· 2025-02-06 14:16
Colliers International (CIGI) came out with quarterly earnings of $2.26 per share, missing the Zacks Consensus Estimate of $2.39 per share. This compares to earnings of $2 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.44%. A quarter ago, it was expected that this commercial real estate services provider would post earnings of $1.46 per share when it actually produced earnings of $1.32, delivering a surprise of -9.59%.Over ...
Colliers International (CIGI) Reports Next Week: Wall Street Expects Earnings Growth
ZACKS· 2025-01-30 16:07
Wall Street expects a year-over-year increase in earnings on higher revenues when Colliers International (CIGI) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on ...
Colliers to announce fourth quarter and full year results on February 6, 2025
GlobeNewswire· 2025-01-17 14:30
TORONTO, Jan. 17, 2025 (GLOBE NEWSWIRE) -- Colliers International Group Inc. (TSX & NASDAQ: CIGI) (“Colliers” or the “Company”) today announced that results for the fourth quarter and full year ended December 31, 2024, will be issued by press release on February 6, 2025, at approximately 7:00am ET. A conference call to review these results will take place at 11:00am ET on February 6, 2025, and will be hosted by Jay S. Hennick, Global Chairman & CEO, and Christian Mayer, CFO. The telephone numbers for this c ...
John Munday named CEO of Colliers UK
GlobeNewswire News Room· 2024-12-04 11:00
Core Insights - Colliers has announced the promotion of John Munday to Chief Executive Officer (CEO) of Colliers UK, effective March 3, 2025, to lead the strategic direction of the UK transactional and advisory services business [1][4] Group 1: Leadership Transition - John Munday has 30 years of industry experience and has previously held leadership roles, including Co-Head of Project & Building Consultancy at Colliers since 2022 [2] - Munday will succeed Tony Horrell, who has served as CEO for 14 years and will transition to a non-executive chairman role [4] Group 2: Strategic Vision - Munday aims to enhance the UK business by focusing on the quality of advice and a diversified service platform to meet the needs of owners, occupiers, and investors [5] - The company is positioned to create enhanced opportunities for clients and employees through investment in a diverse range of services [5] Group 3: Company Overview - Colliers operates in 70 countries with over 22,000 professionals, generating annual revenues exceeding $4.5 billion and managing $99 billion in assets [6] - The company has consistently delivered approximately 20% compound annual investment returns for shareholders over nearly 30 years [6]
Colliers announces appointment of John Sullivan to Board of Directors
GlobeNewswire News Room· 2024-12-03 21:30
TORONTO, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Colliers International Group Inc. (TSX and NASDAQ: CIGI) ("Colliers") announced that John Sullivan has been appointed to the Board of Directors, effective today. Sullivan has more than 30 years of real estate experience in acquisitions, dispositions, asset management and development. He served as the President and Chief Executive Officer of The Cadillac Fairview Corporation Limited for 13 years, retiring in 2023. Prior to his role as CEO, Sullivan held several seni ...
Colliers partners with leading architecture firm
GlobeNewswire News Room· 2024-12-02 21:05
TORONTO and SEATTLE, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Leading global diversified professional services company Colliers (NASDAQ and TSX: CIGI) today announced that Colliers Engineering & Design has finalized an agreement to partner with MG2 Corporation (“MG2”), a premier architecture, strategic planning, design, and program management firm based in Seattle, Washington. This strategic partnership significantly expands Colliers Engineering & Design’s footprint in the U.S. Northwest, strengthening existing se ...
Colliers expands credit facility to US$2.25 billion
GlobeNewswire News Room· 2024-11-29 14:00
TORONTO, Nov. 29, 2024 (GLOBE NEWSWIRE) -- Colliers International Group Inc. (TSX and NASDAQ: CIGI) ("Colliers") today announced the expansion and extension of its unsecured multi-currency revolving credit facility (the “Credit Facility”) for a new five-year term, maturing November 2029. The updated Credit Facility replaces the previous agreement which was set to mature in May 2027 and increases borrowing capacity to $2.25 billion from $1.75 billion. With this expansion, Colliers has over $1 billion of capa ...
Jeroen Lokerse appointed CEO of Colliers Netherlands
GlobeNewswire News Room· 2024-11-11 10:30
Group 1 - Colliers appointed Jeroen Lokerse as CEO of the Netherlands to drive strategic direction and growth [1][4] - Lokerse has 17 years of experience at Cushman & Wakefield, including a decade as Head of the Netherlands [2] - Dirk Bakker will focus on leading the European hotel specialists as Head of Hotels, EMEA [2][3] Group 2 - Davoud Amel-Azizpour, CEO EMEA, expressed confidence in Lokerse's leadership skills and potential for the Dutch business [3] - Lokerse highlighted the strength of Colliers' platform and the quality of its people as key factors for his excitement in the new role [4] - Colliers operates in 70 countries with over 22,000 professionals, generating annual revenues exceeding $4.5 billion [5]