International Workplace Group PLC (CHIX:IWGl)

£ 2.25 +0.046 (+2.09%) Market Cap: 2.28 Bil Enterprise Value: 7.43 Bil PE Ratio: 150.00 PB Ratio: 30.82 GF Score: 62/100

Full Year 2024 International Workplace Group Plc Earnings Call Transcript

Mar 4, 2025 / 09:00 AM GMT

Release Date Price: £1.86 (-7.05%)

Transcript

Key Points

Positve

International Workplace Group PLC (IWGFF) reported record system-wide revenue, EBITDA, and new openings for the year 2024.
The company announced a $50 million share buyback, indicating strong financial health and confidence in future performance.
IWGFF has successfully transitioned its business model towards services, managing centers, and franchising, which is yielding positive results.
The company is generating cash while growing, with a focus on cost management and efficiency, resulting in a 3% reduction in center costs despite global inflation.
IWGFF's global platform provides a significant advantage, allowing the company to hedge against global volatility and achieve cost savings.

Negative

Revenue growth was flat for the year, indicating potential challenges in maintaining momentum.
The company-owned segment experienced a slight decrease in size, which could impact future revenue growth.
There is a need for better market understanding of IWGFF's business model, as many still perceive it as primarily an office business.
The transition to US GAAP and the associated costs are ongoing, which may impact financial reporting and expenses.
The company's guidance range for 2025 EBITDA is relatively wide, suggesting uncertainty in achieving specific financial targets.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

IWG.L - International Workplace Group Plc
Full Year 2024 International Workplace Group Plc Earnings Call
Mar 04, 2025 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good.

Right, well, good morning everyone and welcome to our presentation for the International Workplace Group full year results for the year ended 31st of December 2024.

I'm delighted to present the results this morning.

The right one, record system-wide revenue, which we'll we'll talk about today. Record EBITDA which we're very happy with, and record new openings added to the network.

And all of this, additional performances enabled us to announce our first share buyback for quite a long while with a $50 million buyback. Charlie we'll talk to you more about that later.

So, our business very much as we came through 2024, at an inflection point.

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