Toronto, Canada.,
26
April
2016
|
07:00 PM
America/Los_Angeles

Colliers International reports strong first quarter results

Revenue up 12% (17% in local currency), adjusted EBITDA up 52% (60% in local currency) and adjusted EPS up 90%

Operating highlights:

 

 

 

 

Three months ended

 

 

 

 

March 31

 

(in millions of US$, except Adjusted EPS)

 

 

2016

 

2015

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

$

376.1

 

$

335.8

 

Adjusted EBITDA (note 1)

 

 

 

22.2

 

 

14.6

 

Adjusted EPS (note 2)

 

 

 

0.19

 

 

0.10

 

TORONTO, Canada, April 26, 2016 – Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) today reported operating and financial results for its first quarter ended March 31, 2016. All amounts are in US dollars.

Revenues for the first quarter were $376.1 million, a 12% increase (17% in local currency) relative to the same quarter in the prior year, Adjusted EBITDA (note 1) was $22.2 million, up 52% (60% in local currency) and Adjusted EPS (note 2) was $0.19, a 90% increase versus the prior year quarter. GAAP EPS from continuing operations was a loss of $0.19 per share for the quarter, versus $0.22 per share for the same quarter a year ago. First quarter adjusted EPS and GAAP EPS would have been approximately $0.02 higher excluding foreign exchange impacts.

“Colliers reported strong results in the seasonally slower first quarter, with solid growth both internally and from acquisitions. Our revenue pipelines continue to reflect considerable activity across our various service lines, with generally stable conditions in most major markets,” said Jay S. Hennick, Chairman and CEO of Colliers International. “During the first quarter, we completed another four strategic acquisitions, expanding our presence in Florida and strengthening our existing businesses in the UK, Netherlands and Canada. With our disciplined growth strategy, well established track record of success and strong balance sheet, Colliers International is better positioned than ever to continue building our global platform in the years to come,” he concluded.

About Colliers International Group Inc.

Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.

For the latest news from Colliers, visit Colliers.com or follow us on Twitter: @Colliers and LinkedIn.

Contact
photo:John B. Friedrichsen
John B. Friedrichsen
Chief Financial Officer
+1 416 960-9500
photo:Elliot Golan
Elliot Golan
Director, Public Relations and Marketing
+1 206 695-4208
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