TSX:CIGI - Post Discussion
Post by
retiredcf on Oct 26, 2021 10:18am
Market Movers
On the rise
Colliers International Group Inc. was higher after announcing its “Enterprise ‘25″ plan on Monday after the bell. On Monday, the Toronto-based company revealed the five-year growth strategy, aiming to more than double its profitability with at least 65 per cent of adjusted EBITDA coming from recurring revenue by the end of 2025. Its targets include revenue of US$5.6-billion, adjusted EBITDA of US$830-million, and adjusted earnings per share of US$8.40.
“After doubling adjusted EBITDA between 2015 and 2020, we think most investors expected a similarly ambitious plan for 2020–25,”said RBC analyst Matt Logan. “What flies under the radar, in our view, is accelerating growth in recurring services, which have increased to 54 per cent of TTM EBITDA as at Q2/21, from 31 per cent in 2017. Looking ahead, we believe this continued evolution will underpin an upward rerating — particularly as recurring EBITDA reaches 65–70 per cent.”
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