[On :freetrade:] IWG - International Workplace Group (grown-up WeWork) 👩🏻‍💻

Has anyone here researched or invested in IWG? I’m considering them but haven’t made up my mind yet.

Here’s what I’ve learned so far:

  • They are the world’s largest provider of flexible workspace.
  • WeWork has driven the trend for this kind of working, which IWG are benefiting from.
  • Lots of companies moving to flexible workspace, especially in US and Canada.
  • Unlike WeWork, they are profitable.
  • Shares up 77% in a year.
  • It has been selling off some international arms to focus on being a franchiser rather than an operator.

Further resources:

https://www.iwgplc.com/

I’ve got one share (I do this as a watchlist whilst the real thing comes!).

I think it’s riding the WeWork wave at the moment so I’m hesitant to invest more.

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A lot of people don’t know IWG by name but they know Regus. Problem is every commercial landlord is trying to do a wework on it at the moment. Exciting space to invest if you can back the right horse.

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Full year results and annual report are out today:

http://investors.iwgplc.com/~/media/Files/I/IWG-IR/reports-and-presentations/2020/annual-results-announcement-year-ended-31-december-2019-presentation.pdf

http://investors.iwgplc.com/~/media/Files/I/IWG-IR/reports-and-presentations/2020/consolidated-report-and-accounts-2019.pdf

P/E is quite attractive at 8.57.

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Thanks, haven’t considered this share before.

Anecdotally, I’ve found Regus offices to be absolutely atrocious. Like toilet paper running out after lunch, air conditioning constantly being too hot or too cold. We even had a situation where someone got stuck in the lift in the Regus building and hit the alarm button. An automated voice came back and said that the lift alarm service hasn’t been paid for and to please top up immediatley to get assistance :joy:

Friends I’ve talked to have also had terrible experiences. WeWork may be a complete basket case from an investor point of view but the customer experience is great.

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Down 34% today :scream: