International Workplace Share Discussion Threads

[fred177] 09/1/2020 16:59

March 3rd maybe people sit up and take notice

[3dwd] 09/1/2020 13:42

Usa deal close?

[scoble2] 12/11/2019 16:17

Something good going on big buy @4.87

[scoble2] 12/11/2019 15:24

£4 by friday

[fred177] 10/11/2019 19:18

Interesting link cfo of bodycote was also cfo at iwg he seems to pick his opportunities well

[scoble2] 05/11/2019 10:52

interactive investor Aggressive Winter Portfolio 2019-2020
Company
Ticker
Activity
Track record (years)
Positive returns (years)
Average returns (%)
JD Sports Fashion (LSE:JD
JD.

High street fashion chain
10
9
31.6
Ashtead (LSE:AHT)
AHT
Equipment rental
10
9
30.1
IWG (LSE:IWG)
IWG
Workspace provider
10
9
25.6
Bodycote (LSE:BOY)
BOY
Heat treatment engineer
10
9
25.2
Synthomer (LSE:SYNT)
SYNT
Chemicals
10
9
23.1

[scoble2] 05/11/2019 08:44

Very good results revenue up and debt down.

[3dwd] 28/10/2019 11:36

Trading update 5th November... should be good ..and hopefully more news

[fred177] 22/10/2019 19:32

In this business £47 billion of forward debt is an issue for we work but I think IWG debt profile is sound they have forward commitments on lease obligations not massive on the plus side customers take these obligations of their balance sheets the market is very positive on economics and also environmentally

[poikka] 22/10/2019 19:13

Well I am still in there, fred, but with a very small stake - if I can call it that. They're on a fwd p/e of 33.

I need to look at the cashflow again as I was concerned last time I looked at how little debt had fallen despite getting some £300m from Japan.

[fred177] 22/10/2019 18:09

I remember listening to a conference call following results 2 years ago when m Dixon said this was not going to be a hockey stick there will be down moments if you hold this stock you see it fluctuates 35% either way so you’ve got to be solid in your belief I look at what Dixon has done himself and what todcafund have done there will be bad moments but if you are in for the long term I think you’ll be ok

[poikka] 22/10/2019 17:43

That's undeniable, fred, but I'm going to wait for the next detailed (I hope) update before committing further funds here.

You have to ask the question, your comment being the case, why isn't IWG's share price higher than it is.

[fred177] 22/10/2019 15:27

that valuation is still more than IWG's which is proftable and continues to expand, WW is a debt ridden non profit making company that has to stop expanding

[poikka] 22/10/2019 14:40

Now they do, they don't like it. WW now worth $7.5-$8.0bn, rather less than Neumann was hoping.

[poikka] 22/10/2019 12:53

Oh hello, softbank takes over WeWork and Neuman is out. Market not sure what to make of its effect on IWG.

[fred177] 03/10/2019 20:49

Yes landlords will prefer the IWG covenant and they should make hay with Corporates as a more reliable partner than others bigger global footprint profitable etc etc

[3dwd] 03/10/2019 20:39

The franchise roll out will continue ..a major deal would clearly be massively positive for the shares ..good article today in ft ..

[fred177] 02/10/2019 18:59

IWG is a stable business that makes a profit, enterprise customers may decide they should be the partner of choice because of there stability and global footprint I think they will be advancing on this

[earwacks] 02/10/2019 18:27

WeWork float now pulled and possibly going under. No surprise there then. Is this an opportunity for IWG or will it kill their ambitions too?

[3dwd] 17/9/2019 09:15

Valuation of iwg is alot Lower and it makes money... perhaps Wework would see iwg asxa target in the future !!!!!

[poikka] 17/9/2019 07:33

I read that the WeWork flotation has been delayed with waning public interest. Maybe investors might consider IWG instead. Maybe I should BuyBack those that I flogged - maybe not.

[fred177] 27/8/2019 18:23

Maybe SoftBank will subscribe for the majority of share, they pulled $14 billion of funding earlier this year this requires about $3.5 billion and then the underwriting banks loan another £6 billion in for a penny as they say


If they get it away this can only be good for IWG

[fred177] 27/8/2019 18:03

The big ? Will WW get the IPO away or will they pull it ?

[poikka] 27/8/2019 17:52

From Forbes:

"WeWork – now rebranded as The We Company (WE) – filed its initial S-1 on August 14, and the company reportedly plans to go public in September. There isn't official pricing information, but the company’s most recent funding round – a $2 billion investment from SoftBank in January – valued the co-working company at $47 billion. At this valuation, WeWork would be the 2nd largest IPO of 2019, trailing only Uber (UBER).

WeWork might not be the largest IPO of 2019, but it is easily the most ridiculous, and the most dangerous. At least, Uber and other recent big-money IPO’s offered some legitimate innovation in their business models even if their valuations were far too high. WeWork has copied an old business model, i.e. office leasing, slapped some tech lingo on it, and suckered venture capital investors into valuing the firm at more than 10x its nearest competitor. The company also burns tons of cash, carries huge risk factors in a recession, and sports some of the worst corporate governance practices I’ve ever seen. WeWork (WE) is in the Danger Zone.

WeWork was founded in 2010 in the SoHo district of New York City to provide co-working space, primarily for freelancers and small startups. In the nine years since its founding, the company has grown rapidly and consists of 528 locations in 111 cities and 29 countries.

While WeWork is growing rapidly, the service it offers is not new. The Belgian (?!) company IWG, which operates under the brand name Regus and a variety of other, smaller brands, utilizes the same business model of leasing office space, refurbishing it, and sub-leasing it under shorter terms to tenants.
IWG has more square feet of office space than WeWork, earns more revenue, and actually earns a profit. However, IWG has a market cap of just $3.7 billion, less than 10% of WeWork’s most recent valuation. The primary difference between the two is that WeWork describes its business model in the faux-tech lingo of “space-as-a-service” and its mission as “elevating the world’s consciousness.”;"

Not a great fan, then.