International Petroleum Corporation (IPCO) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the International Workplace Groups PLC third quarter trading update. This call is being recorded. Today's call is hosted by Mark Dixon, founder and CEO. I will now turn the call over to Mark. Please go ahead. Thank you very much. Good morning everyone and thank you for joining us today to listen to our results for the third quarter of 2025. As global market leader in our industry, we continue to build a network, and with that, our revenues and the motor round of business as we continue to sign and open significant numbers of locations to grow our national and global networks and our platform overall. This is what our customers and partners are looking for. That's the scale of the business and the ability to work for both of these constituents. Q3 has seen continued positive momentum for the group. We have in the past been very clear about our plan and quarter to quarter we're talking to you about how we're executing on this plan and delivering on it as we said we would. Our strategy is to consistently deliver the results which move us towards our medium term target of at least a billion of EBITDA and underlying here in Q3 and our outlook forward is one of very strong momentum as we come to the end of the year. As the world of work continues to evolve, the structural growth in flexible working combined with our unrivaled market position continues to grow and has resulted in a system revenue growth of 4% year on year. And we expect an acceleration on this, this both compared to the first half of the year and we expect further acceleration as we go into 2026. The incremental investment in management franchise that we spoke about at the interim results has resulted in further capital light expansion in our networking coverage with a 40% increa...