What was the amount of additions to property and equipment for Engel & Volkers in 2022?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
rehensive loss: | - | - | - | - | (141,272) | (141,272) | | Foreign currency translation | | | | | | | | adjustment | | | | | | | | BALANCE - DECEMBER 31, | 17,143 | $ 171,430 | $ 34,285,342 | $ (17,638,174) | $ (173,649) | $16,644,949 | | 2024 | | | | | | |
ENGEL & VÖLKERS AMERICAS, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income (loss) | $ (4,048,100) | $ 1,761,556 | $ 3,560,109 |
| Adjustments to reconcile net income (loss) to net cash | |||
| provided by operating activities: | |||
| Depreciation and amortization | 2,288,707 | 1,596,741 | 1,002,565 |
| Non-cash lease expense | 422,734 | 432,537 | 467,177 |
| Provision for doubtful accounts | 644,206 | 673,367 | 14,444 |
| Foreign exchange gain on long-term debt | - | - | (15,369) |
| Deferred income taxes | 4,748 | (53,900) | 131,267 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (750,778) | (1,113,744) | 203,349 |
| Prepaid commissions | 41,985 | (269,440) | (20,804) |
| Other prepaid expenses | (63,766) | (361,450) | (108,581) |
| Due from affiliates, net | (1,425,055) | (65,316) | 112,966 |
| Prepaid income taxes | 827,611 | 831,019 | (1,658,630) |
| Notes receivable | 1,064,148 | (789,858) | (160,000) |
| Other receivables | (552,774) | 3,000 | 2,000 |
| Deposits | (34) | (32) | (33) |
| Operating lease liability | (429,737) | (429,737) | (412,994) |
| Accounts payable | (410,404) | 403,164 | (366,207) |
| Accrued expenses and other current liabilities | 2,966,698 | (42,193) | (1,580,465) |
| Contract liabilities | (132,172) | 95,856 | 156,569 |
| Other long-term liabilities | 3,065,357 | - | - |
| Income taxes payable | (301,464) | (796,994) | 1,111,599 |
| Net cash provided by operating activities | 3,211,910 | 1,874,576 | 2,438,962 |
| Cash flows from investing activities: | |||
| Additions to property and equipment | (22,791) | (26,523) | (556,206) |
| Capitalized software costs | (1,853,750) | (1,881,771) | (1,650,544) |
| Net cash used in investing activities | (1,876,541) | (1,908,294) | (2,206,750) |
| Cash used in financing activities: | |||
| Repayment of long-term debt | - | - | (308,760) |
| Effect of exchange rate changes on cash | (141,272) | 30,285 | (54,080) |
| Net increase (decrease) in cash and cash equivalents | 1,194,097 | (3,433) | (130,628) |
| Cash and cash equivalents - beginning | 5,037,368 | 5,040,801 | 5,171,429 |
| CASH AND CASH EQUIVALENTS - ENDING | $ 6,231,465 | $ 5,037,368 | $ 5,040,801 |
| Supplemental disclosures of cash f |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the additions to property and equipment in 2022 were ($556,206). This figure reflects the company's investments in its physical assets during that year.
For a prospective Engel & Volkers franchisee, this information provides insight into the company's capital expenditure trends. Significant investments in property and equipment could indicate growth and expansion, while lower figures might suggest a focus on other areas of the business or a more conservative approach to capital spending. Understanding these trends can help a franchisee assess the financial health and strategic direction of Engel & Volkers.
It's important to note that this figure represents the consolidated activity of Engel & Volkers Americas, Inc. and its subsidiary. Franchisees should consider this number in conjunction with other financial data and qualitative factors when evaluating the franchise opportunity. Further due diligence, including discussions with existing franchisees and a review of the complete financial statements, is recommended to gain a comprehensive understanding of Engel & Volkers' financial performance and investment strategies.