Key Points – IWG reported strong first-half growth, with system-wide revenue up 11% to $2.4 billion and company-owned revenue up 5%.
The company maintained its 2026 adjusted EBITDA guidance of $585 million to $625 million and its medium-term target of at least $1 billion. – The managed and franchised network continued to expand rapidly: revenue rose 36%, recurring management fees increased 84%, and more than 610,000 rooms are now open or contracted
IWG expects recurring management fee income to reach $80 million in 2026 and $125 million in 2027. – IWG returned $109 million to shareholders in the first half while maintaining 2026 net capital expenditure guidance of $150 million. Management expects second-half cash flow and overhead efficiency to improve, with year-end net debt-to-EBITDA projected below 1.5 times. IWG (LON:IWG) reported first-half 2026 system-wide revenue growth of 11% to $2.4 billion, supported by expansion in its managed and franchised network and continued growth in company-owned locations.
The flexible-workspace operator reiterated its full-year adjusted EBITDA guidance of $585 million to $625 million and its medium-term target of at least $1 billion in adjusted EBITDA. Christian Schmitz, who became chief executive in June, said the company is positioned to benefit from a structural shift toward flexible real estate arrangements, as businesses seek shorter commitments and the ability to scale their office use up or down. He said IWG’s priorities are to expand margins in company-owned centers, increase fee income from managed and franchised locations, and broaden its network coverage.