Commenting on the results Jay S. Hennick, our Chairman and CEO said: “Colliers generated strong results for the fourth quarter and full year across our all major markets through a combination of acquisitions and solid internal growth. Client demand and skilful execution drove revenues to record levels, while our leadership team continued to successfully expand and diversify our global platform.
“With a strong balance sheet providing ample capacity to fund our continued growth; prudent investments in technology to add value to clients and better enable our professionals to execute; a significant acquisition in the Nordics to start the year; and a stable outlook for 2018; we remain on-track to achieving our ambitious five-year growth plan to double our size by the year 2020,” he concluded.
Global topline figures
- Revenues were $734.2 million, a 27% increase (25% in local currency) relative to the comparable prior year period
- Adjusted EBITDA was $101.1 million, up 12% (10% in local currency)
- For the year ended December 31, 2017, revenues were $2.28 billion, a 20% increase (19% in local currency) relative to the comparable prior year period
- Adjusted EBITDA was $242.3 million, up 19% (18% in local currency)
EMEA topline figures:
- Revenues totalled $183.8 million for the fourth quarter compared to $152.2 million in the prior year quarter, which equated to a 15% increase on a local currency basis
- Adjusted EBITDA was $37.2 million, up 7% from $34.9 million, with margin impacted by additional investment in people and performance-based incentive compensation
- Revenues totalled $521.3 million for the year compared to $474.9 million in the prior year, which equated to a 9% increase on a local currency basis
- Adjusted EBITDA was $69.4 million, versus $55.9 million in the prior year, an increase of 24%