International Workplace Group PLC on Tuesday said it expects earnings to further grow in 2025, as system-wide revenue climbed in the first quarter.
The Zug, Switzerland-based provider of hybrid workspace under Regus and other brands said system-wide revenue grew 2.1% to $1.06 billion from $1.04 billion a year ago.
Group revenue however declined by 0.3% to $909 million from $912 million.
For 2025, the company expects to report pre-IFRS 16 earnings before interest, tax, depreciation and amortisation between $580 million and $620 million on a constant currency basis, up at least 4.1% from $557 million it had reported for 2024.
The company highlighted that it believes the impact of US tariffs on the global economy remains unknown, while it targets $1 billion in pre-IFRS 16 Ebitda in the medium term.
IWG Chief Executive Officer Mark Dixon said: ‘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 simultaneously reducing debt in-line with our targets.’
IWG shares rose 0.8% to 187.10 pence each on Tuesday morning in London.
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