International Workplace Group PLC

IWG

Equity

ISIN JE00BYVQYS01 / Valor 34508454

LSE London Stock Exchange, SETS (2024-12-23)

GBP 1.56+1.63%

International Workplace Group PLC
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About company

IWG PLC is a multinational corporation that provides serviced offices, coworking spaces, business lounges, and virtual offices under various brand names.

Summarized from source with an LLMView SourceSector: Business Services

Record Revenue

International Workplace Group PLC reported its highest-ever system-wide revenue of $2.1 billion for the first half of 2024, marking a 2% growth on a constant currency basis compared to the same period in 2023. This record revenue underscores the company's successful strategic network expansion and robust performance across its flexible workspace brands.

EBITDA Growth

The company achieved a 13% increase in EBITDA, reaching $274 million in H1 2024, up from $245 million in H1 2023. This growth reflects the company's effective cost management and operational efficiencies, contributing to a stronger financial position.

Positive Earnings and Dividend

International Workplace Group PLC returned to positive earnings with an earnings per share (EPS) of 1.6¢ for the first half of 2024. This positive performance has enabled the company to declare an interim dividend of 0.43¢ per share, rewarding shareholders for their continued support.

Cashflow and Debt Reduction

The company generated $118 million in cashflow from business activities during H1 2024, which facilitated a reduction in net financial debt to $(768) million, down from $(835) million in H1 2023. This improvement highlights the company's focus on strengthening its balance sheet and reducing leverage.

Outlook and Guidance

International Workplace Group PLC maintains a positive financial outlook for the remainder of 2024, with expectations of continued growth and further net debt reduction. The company remains committed to its strategy of expanding its network coverage and enhancing operational efficiencies to drive future earnings growth.

Summarized from source with an LLMView Source

Key figures

-15.1%1Y

-46.1%3Y

-63.7%5Y

Performance

30.2%1Y

39.5%3Y

51.4%5Y

Volatility