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IWG announces 10.3% increase in its interim dividend

Investment Tools Ltd.
IWG announces 10.3% increase in its interim dividend

IWG have proposed a 10.3% increase in its interim dividend, to 2.15p.

Other financial highlights include:

Continued revenue and profit growth

• Open centre revenue up 15.1%(2) to £1,275.0m

• Pre-2018(3) revenue increased 5.2%(2) to £1,154.9m

• Pre-2018(3) EBITDA up 22%(2) to £229.7m

• Profit after tax of £294.9m, including profit on Japan transaction

Franchising momentum and progress

• £320m partnership transaction in Japan completed, long-term master franchise underway

• Franchise agreements signed with multiple partners, commitment of over 300 locations

• Strong interest from third parties wanting to operate IWG brands across a wide range of geographies

Strong growth in enterprise accounts

• Winning many new global clients

• Strong growth momentum with existing enterprise accounts, revenue from top 300 accounts up c.30%

Record cash generation, strong balance sheet and announcement of increased return to shareholders

• Cash flow pre-growth of £385.1m, 43.0p per share

• £100m share repurchase programme announced

Significant capital investment in network and global platform infrastructure

• Net growth capital investment of £185.5m adding 114 new locations (all organic) and 3.0m sq. ft. 

• Now in 3,334 locations worldwide, with 58.8m sq. ft. of space

• Expanded the network with 2 new countries and 22 new cities

IFRS 16

• The adoption of IFRS 16 impacts the Group's financial reporting only

• The fundamentals of the business have not changed, with revenue, cash generation and returns unaffected

Companies mentioned

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