Colliers International Group Inc. Subordinate Voting Shares - CIGI STOCK NEWS

Colliers International Group (CIGI) reported its financial results for Q4 and the full year 2020, highlighting revenues of $913.7 million, down 2% year-over-year, with adjusted EBITDA increasing by 7% to $154.9 million. Full-year revenues totaled $2.79 billion, a 9% decline compared to 2019. Adjusted EPS decreased 10% to $4.18. The majority of revenues now come from higher-margin recurring services. Despite challenges from the pandemic, Colliers is optimistic about recovery in 2021, projecting revenue growth of 10% to 25%. A wage subsidy of $10.9 million was received in Q4.

Colliers International Group (CIGI) will announce its Q3 2020 financial results on October 27, 2020, at 7:00 AM ET. A conference call for investors will follow at 11:00 AM ET, featuring CEO Jay S. Hennick, COO John Friedrichsen, and CFO Christian Mayer. Participants can join via toll-free or international numbers provided, using conference ID 6475418. For those who miss the call, a rebroadcast will be available for 90 days. Colliers operates in 68 countries, employing over 18,000 professionals, and delivered significant annual investment returns for its shareholders.

Colliers International has appointed Yukihiro Ogasawara as Managing Director & Chairman in Japan to drive growth. He brings over 40 years of experience from CBRE, where he was Vice Chairman of Capital Markets, and from Sumitomo Realty & Development. Ogasawara will lead the expansion of Colliers' operations in Japan, which is identified as a rapidly growing market. He will also join the Asia Executive Team and collaborate with former leader Katsuji Tokita, who will continue as Managing Director for Major Projects.

Colliers International Group (CIGI) announced the acquisition of Colliers International Nashville, enhancing its market position and service capabilities. The Nashville office will operate as a company-owned entity, allowing current shareholders to retain equity. With a strong reputation in the Nashville area, the team aims to leverage Colliers' global resources for growth. The Nashville market is recognized as a top real estate destination due to its diverse economy and business-friendly environment, positioning Colliers well for future success.

Colliers International (CIGI) has announced the opening of a new office in Raleigh, North Carolina, enhancing its service offerings in the region. This follows the acquisition of Colliers | Charlotte, allowing Colliers to provide services such as leasing, capital markets, and property management to a broad client base. J. Scott Adams will oversee operations, leveraging his 20 years of local market experience. The firm emphasizes growth in the Southeast U.S., aiming to strengthen its brand and service capabilities.

Colliers International Group (NASDAQ: CIGI) has announced a normal course issuer bid (NCIB) to buy back up to 3,000,000 subordinate voting shares during the period from July 20, 2020, to July 19, 2021. This represents approximately 10% of its public float as of June 30, 2020. The purchases will occur on the TSX, NASDAQ, or alternative trading systems. The average daily trading volume on the TSX for H1 2020 was 107,482 shares, limiting daily NCIB purchases to 26,870 shares. Colliers' previous NCIB, allowing the purchase of 2,900,000 shares, expires on July 17, 2020.

Colliers International (NASDAQ and TSX: CIGI) has completed the acquisition of a controlling interest in Maser Consulting P.A., enhancing its position in the engineering design services sector. Maser, with over 1,000 professionals and a 2019 revenue of $167 million, will operate under the rebranded name 'Colliers Engineering Services' in early 2021. This move diversifies Colliers' revenue streams and strengthens its Outsourcing & Advisory segment. The partnership aims to leverage both companies' expertise to tap into the $100 billion engineering design services market.

Colliers International Group (CIGI) has been named to the 2020 Global Outsourcing 100 list by IAOP® for the 14th consecutive year, earning All Star distinction for top scores in Customer References, Awards & Certifications, Programs for Innovation, and Corporate Social Responsibility. The company achieved a perfect score in Customer References, highlighting its commitment to client success. This prestigious recognition underscores Colliers' strong leadership in the outsourcing sector and its dedication to delivering exceptional service.

Colliers International Group (NASDAQ: CIGI) has declared a semi-annual cash dividend of US$0.05 per Common Share, payable on July 13, 2020. Shareholders on record by June 30, 2020, will receive this dividend, classified as an 'eligible dividend' for Canadian tax purposes. Colliers operates in 68 countries with a workforce of over 15,000 professionals, delivering strong investment returns. In 2019, the company reported revenues exceeding $3.0 billion, with $33 billion in assets under management.