Colliers International reported a 12% rise in revenue to $376 mln (€332 mln) in the first three months of the year, up from $335 mln in the same period a year earlier.
Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to $22.2 mln, up 52% from $14.6 mln a year earlier while adjusted earnings per share was $0.19, a 90% increase versus the prior year quarter's figure of 0.10.
EMEA region revenues totalled $98.9 mln for the first quarter compared to $81.7 mln in the prior year quarter, up 21%. Adjusted EBITDA reported a loss of $0.6 mln, versus break-even in the prior year quarter, due to the timing of expenses as well as changes in revenue mix.
'Colliers reported strong results in the seasonally slower first quarter, with solid growth both internally and from acquisitions,' said Jay S. Hennick, Chairman and CEO of Colliers International. 'Our revenue pipelines continue to reflect considerable activity across our various service lines, with generally stable conditions in most major markets.'
During the first quarter, Colliers completed four strategic acquisitions, expanding its presence in Florida and strengthening the existing businesses in the UK, Netherlands and Canada.
