International Workplace Group PLC (FRA:IWG)

€ 2.148 -0.004 (-0.19%) Market Cap: 2.17 Bil Enterprise Value: 9.22 Bil PE Ratio: 0 PB Ratio: 54.21 GF Score: 73/100

Full Year 2022 IWG Plc Earnings Call Transcript

Mar 07, 2023 / 09:00AM GMT

Release Date Price: €2.06 (-4.63%)

Transcript

Mark Dixon

IWG plc - Founder, CEO & Executive Director

Thank you, everyone, for joining us this morning, and welcome to IWG's 2022 results.

The world is transforming very rapidly in the way that people are working. We're benefiting from this as more and more companies move towards hybrid working. Our platform with more than 3,000 buildings in 120 countries is starting to become more and more relevant to a customer base that is growing with every month that passes.

In fact, the only thing that stops it growing more quickly is the fact that all companies already had commitments. They already have leases. They already have commitments that they can't get out of all at the same time. And therefore, that slows down adoption, but adoption is happening rapidly.

I've been saying for some time that hybrid is the future way of working. We saw prepandemic our best quarter 2020 -- first quarter 2020, as more and more companies started to adopt them. And that's really picked up as we came through COVID and into '22. So we're absolutely in the right place at the right time, and we're

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