The following is a summary of the Colliers International Group Inc. (CIGI) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 2024 reported revenue was $1.1 billion, marking a 6% increase compared to the previous year, with leasing in the Americas and EMEA leading the growth.

• Adjusted EBITDA for Q2 2024 was $156 million, a 6% increase from the previous year, with a margin improvement to 13.7%.

• Assets under management maintained at $96 billion, with growth from new capital offset by dispositions and redemptions.

Business Progress:

• Colliers completed the acquisition of Englobe, enhancing engineering and project management capabilities.

• Announced realignment of segment reporting to focus on three growth engines: Real Estate Services, Engineering, and Investment Management starting Q3.

• Significant leasing revenue growth across office and industrial sectors in various global regions.

• Capital markets segment exhibited growth recovering from the market downturn.

Opportunities:

• Expansion and solidification of engineering services through the acquisition of Englobe, now representing a significant portion of the company's earnings.

Risks:

• Recovery in capital markets activity may be delayed to early 2025.

• Leverage ratio expected to rise due to the acquisition, with a planned reduction by year-end through strong cash flows.

More details: Colliers International Group IR

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