Business
Investor Day
Investor Day.
About this update from International Workplace Group Plc
[{"type":"text","content":"\n\n \n \n\n5 December 2023\n \nIWG ANNOUNCES RESUMPTION OF DIVIDEND AT ITS INVESTOR DAY FOLLOWING STRONG PERFORMANCE\n \n \nIWG plc, the largest provider of hybrid workspace globally including its Regus and Spaces brands with an unrivalled network of 3,455 locations across more than 120 countries, hosts an Investor event for institutional investors and analysts today in New York City.\n \nThe presentations from IWG's management team will outline strategic priorities and prospects for the medium term; in addition to how we will deliver sustainable growth, cashflow, and maximize long-term shareholder returns.\n \nThis includes:\n· Resumption of regular dividend payments\n· A medium-term ambition of $1bn run-rate EBITDA1\n· Committing to additional capital returns to shareholders once our net financial debt / EBITDA1 falls below 1x\n· Presenting our business as three divisions - Managed and franchised, Company-owned, Worka\n \nMark Dixon, Chief Executive Officer and Charlie Steel, Chief Financial Officer, will be joined by members of the IWG Senior Leadership Team to present the business.\n \nAs part of this event, IWG will be outlining reporting going forward by focusing on three distinct, but complementary business models and presenting associated KPIs.\n \nFocusing on growth through the capital-light business means that growth capex requirements will be dramatically lower in the future, generating more free cash flow for shareholders.\n \nIWG is planning to restart its progressive dividend policy with a final dividend, expected to be 1p per share to be announced alongside 2023 FY results,\n \nThe Group is also announcing a medium-term EBITDA[1] ambition of $1bn EBITDA1 and that when 1x Net Debt / EBITDA1 is reached, IWG will share future cash flow between debt and equity holders. Until that point, the focus will remain on reducing net financial debt.\n \nMark Dixon, Founder and Chief Executive Officer, said: \"I am delighted to be announcing the intention to resume the dividend which is a signal of how well the business is doing. We are delivering on our strategy of capital-light growth, backed up by having a strong balance sheet. We expect to co...