Colliers reports 22% rise in EMEA earnings
Colliers International has reported an adjusted EBITDA rise of 22% for the EMEA region in the second quarter of 2018.
Adjusted EBITDA was $21.5m versus $17.5m at the end of Q2 2017 and follows on from a loss in the first quarter of this year. EMEA region revenues totalled $149.6m for the second quarter compared to $120.6m in the same period last year, up 15% on a local currency basis. Growth was comprised of 14% growth from recent acquisitions and 1% internal growth. Lease brokerage success boosted the results and internal revenue growth was impacted by a decline in project management activity, according to Colliers.
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