IWG has recorded its highest ever revenue, with its £3.1bn earnings for 2022 up by 24% on 2021.
The serviced office provider also said profit had risen to £147m, up from the previous year’s loss of £87m.
Chief executive Mark Dixon said: “The growth juggernaut in hybrid working continues and 2022 has been a record year for IWG with our highest ever revenue produced in our 34-year history, up 24% from 2021. We have done this through a combination of higher demand for flexible work products, higher pricing and continued cost discipline, and I am looking forward to continuing this momentum in 2023.”
Over the year IWG signed a record 462 new capital-light contracts, delivering further capacity increases across the estate and an extending the global network.
It said signings for new capital-light contracts for 2023 were on track to exceed 2022.
The network now has 3,345 locations worldwide, with 65.1m sq ft of space under management
Dixon added: “During 2023 we will continue building on our capital-light growth strategy, which allows us to capitalise on the growing pipeline of property investors seeking to maximise their returns by partnering with IWG. We continue to be well-placed to deliver further revenue, profitable growth and reducing leverage as more companies permanently embrace hybrid working as their preferred model, with IWG set to benefit most as by far the leading global player.”
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