Adjusted centre contribution
Centre contribution excluding adjusting items.
Adjusted EBITDA
EBITDA excluding adjusting items.
Adjusted EPS
EPS excluding adjusting items.
Adjusted operating profit/(loss)
Operating profit excluding adjusting items.
Adjusting items
Adjusting items reflects the impact of adjustments, both incomes and costs, which are considered to be significant in nature and/or size.
EBIT
Earnings before interest and tax.
EBITDA
Earnings before interest, tax, depreciation and amortisation.
EPS
Earnings per share.
Expansions
A general term which includes new business centres established by IWG and acquired centres in the year.
Franchisee
The owners of business centres operating under a formal franchise arrangement.
Growth capital expenditure
Capital expenditure in respect of centres which opened during the current or prior financial period.
Growth estate
Comprises centres which opened during the current or prior financial year.
Growth-related partner contributions
Partner contributions received in respect of centres which opened during the current or prior financial period.
Like-for-like
The financial performance from centres owned and operated for a full 12-month period prior to the start of the financial year, which therefore have a full-year comparative.
Maintenance capital expenditure
Capital expenditure in respect of centres owned for a full 12-month period prior to the start of the financial year and operated throughout the current financial year, which
therefore have a full-year comparative.
Maintenance-related partner contributions
Partner contributions received in respect of centres owned for a full 12-month period prior to the start of the financial year and operated throughout the current financial year, which therefore have a full-year comparative.
Net debt
Operations cash and cash equivalents, adjusted for both short-term and long-term borrowings and lease liabilities.
Net growth capital investment
Growth capital expenditure net of growth-related partner contributions.
Network rationalisation
Network rationalisation for the current year is defined as a
centre that ceases operation during the period from 1 January to December of the current year. Network rationalisation for the prior year comparative is defined as a centre that ceases operation from 1 January of the prior year to December of the current year.
Occupancy
Occupied square feet divided by available square feet expressed as a percentage.
Open centre revenue
Revenue for all centres excluding closures.
Operating profit/(loss) before growth
Reported operating profit adjusted for the gross profit impact arising from centres opening in the preceding and current years, and centres to be opened in the subsequent year.
Partners
Owners or landlords of business centres, operating under a management lease arrangement.
Pre-IFRS 16 basis
IFRS accounting standards effective as at the relevant reporting date with the exception of IFRS 16.
Revenue development
Revenue programme on a continuing basis, for the last four years.
TSR
Total shareholder return.
System wide revenue
Total reported revenue generated, including revenue from franchise, managed centre and joint-venture partners, but excluding fee income.
