Business
Q1 2025 Trading Update
Q1 2025 Trading Update.
About this update from International Workplace Group Plc
[{"type":"text","content":"\n\n\n \n6 May 2025\n \nFIRST QUARTER TRADING STATEMENT\n \nInternational Workplace Group plc, the world's largest hybrid workspace platform with a network in over 120 countries through workspace, professional services and digital brands such as Regus, Spaces, HQ, Signature and Instant Offices, issues its first quarter trading statement for the three months ended 31 March 2025.\n \nGROWTH AND CONTINUED CASH GENERATION DRIVING INCREASED SHARE BUYBACK\nPROGRAMME AND LEVERAGE REDUCTION\n\n\n\n\n●\n\n\nSystem-wide revenue of $1,057m, growth of 2% on a year-over-year basis\n\n\n\n\n●\n\n\nNetwork and coverage expansion continues with higher signings and openings year-over-year\n\n\n\n\n\n\n\no\n\n\nQ1 2025 signings 224 (2024: 212)\n\n\n\n\n\n\n\no\n\n\nQ1 2025 openings 165 (2024: 142)\n\n\n\n\n●\n\n\nCompany-owned division year-over-year revenue growth of 3% in open centres\n\n\n\n\n●\n\n\nManaged & Franchised division year-over-year system revenue growth of 23% leading to 43% growth in fee income in the quarter\n\n\n\n\n●\n\n\nDelivering in-line with capital allocation policy driven by cash generation:\n\n\n\n\n\n\n\no\n\n\nReduction in net financial debt by $83m in the 12 months to 31 March 2025 and further reduction in net financial debt during the quarter\n\n\n\n\n\n\n\no\n\n\nAs of today, completed over $30m of the $50m share buyback programme announced on 4 March 2025\n\n\n\n\n●\n\n\nIncreasing share buyback programme from $50m to $100m, with the already-announced $50m expected to be completed by the H1 2025 announcement on 5 August\n\n\n\n\n●\n\n\nMaintaining FY 2025 guidance with pre-IFRS 16 EBITDA range of $580-$620m on a constant currency basis and further leverage reduction\n\n\n\n\n \nMark Dixon, Chief Executive of International Workplace Group plc, said:\n\"I am delighted with our start to 2025 despite uncertainty globally. March was a record sales month, and lead indicators such as enquiries and tours are running at all-time highs in the US despite the challenging macroeconomic backdrop. We continue to see signings, and openings grow as we further expand our network and coverage, allowing the flywheel of our business model to keep delivering greater cashflow whilst requiring less capital to grow than historically. We are delighted to continue to deliver returns to our shareholders whilst sim...