International Workplace Share Discussion Threads

[its the oxman] 17/7/2024 22:08

Is this a buy now in the 170s?

[shaker45] 30/5/2024 02:05

Big drop after ceo sold 35m of his 255m shares to cover a bank pledge. Buying opportunity??

[bulltradept] 05/3/2024 08:27

But the price drops SI! Ideas?

[scepticalinvestor] 05/3/2024 07:22

Excellent numbers, impressive

[fred177] 13/12/2022 13:08

Nice to see Mitsubishi Real Estate endorsing the business model by buying the Japanese franchise off TKP

[bulltradept] 09/11/2022 08:20

Yeap, might not actually go through so unless you are already in much lower down...

[ridingthewaves1] 07/11/2022 15:03

Pointless buying now though already priced in

[albert arthur] 07/11/2022 13:49

Current borrowing and net debt are two totally different things..

[fred177] 07/11/2022 13:28

It may be viewed as debt ridden by some on the baisi of all future rents due to landlords,hence the treatment of the SP, but this does not in any way incorporate contracted forward order book of rents due to IWG and future revenue from any new orders from occupiers and continuation of existing agreements with occupiers which often roll over in any case. Hence the focus on capital light expansion through management contracts and franchising = no more debt on the balance sheet which will be reducing over time.

Current debt pre IFRS 16 is £723 million down £18 million previous quarter and 50% of the debt was acquired for the acquisition of Instant as part of the enlarged digital offering now being touted as worth £1.5 billion, although hopefully a lot more, would like to see booking.com or airbnb make a bid to add to their offerings wold be loose change to them

[epifanio1] 07/11/2022 13:26

Net debt in June was 7,195.7m (7.2bn). Trading statement says reduced June's net debt figure by 18m so still 7,177.7bn NET debt remaining. Company obfuscating by using net debt figure rather than total liabilities. Still got over 9bn in debt according to they're own audited financial statements lol

[babbler] 07/11/2022 13:10

net financial debt 723m. Trading update.

[epifanio1] 07/11/2022 13:08

Eh..? Financial statements say debt current liabilities are 2.7bn with non current liabilities 6.5bn, totaling 9.2bn of debt

[albert arthur] 07/11/2022 12:41

Current borrowing is at 954m

[epifanio1] 07/11/2022 12:38

Enterprise value is mcap + debt - cash and equivalents... without even looking at the finances 7.8bn EV screams debt ridden. Generally the lower the enterprise value the better...

[albert arthur] 07/11/2022 12:34

Am I right in thinking if they sold the leg for 1.5b the enterprise value would still be 6.2band the cap 300m... market confusion at the moment.. I've bought some back.

[albert arthur] 07/11/2022 12:33

But if a volume fluke :) thanks

[essentialinvestor] 07/11/2022 12:30

Albert, beautiful bit of trading there, congrats.

[babbler] 07/11/2022 12:24

Great research. Keep it up.

[albert arthur] 07/11/2022 12:16

Sharepad had enterprise value 7.8b for the entirety... surely this should go up further

[babbler] 07/11/2022 12:00

for one part only. ie still lots of potential

[albert arthur] 07/11/2022 11:58

Well that's the fastest 30% I've made for a while.. uncrossing now