Colliers International Group has had strong start to 2025, driven by its recently established engineering segment.
The agency has grown revenue and adjusted EBITDA by 14% and 7% over the three months to the end of March, to over $1.1bn (£850m) and $116m, respectively. Over the past 12 months, 72% of the company’s earnings were generated from recurring service revenue.
Chief executive Jay Hennick said: “We’re seeing strength across all our business segments and geographies, which we expect will continue, particularly through the back half of the year. Our recently established engineering segment delivered strong internal growth in the quarter and combined with acquisitions, achieved meaningful gains over the prior year.”
Engineering revenue, which covers work such as engineering consulting and project management services, totalled $377.9m, up 59% compared to the prior year quarter, while adjusted EBITDA was $24m, up 84%. The performance was boosted by the favourable impact of recent acquisitions and strong internal growth. In Q2, Colliers has closed the acquisition of Terra Consulting, further expanding its engineering platform in the US.
Investment management revenue totalled $126.2m over the first three months of 2025, up 3% year-on-year, while adjusted EBITDA rose 4% to $55.1m.
Less positively, overall real estate services revenue ticked down by 1% to $637m amid reduced leasing activity. Adjusted EBITDA was $39.1m, down 12%, due to continued elevated investments in recruiting.
Colliers kept its outlook for 2025 unchanged as it assumes that global trade uncertainty will lessen in the second half of the year, and interest rate volatility will not increase for the balance of the year.
Hennick added: “With three powerful growth engines, a world-class leadership team, and a 30-year track record of value creation through every market cycle, Colliers is well-positioned to continue delivering outstanding returns for shareholders.”
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