Quick Office Holding AB (QOH) announces plans to carry out a rights issue during the month of May. The issue is priced at 40 MSEK pre-money. The group’s turnover for 2023 is 53 MSEK. In 2024, we will reach 57+ MSEK with an estimated annual rate in December 2024 of just over 60 MSEK. With a P/S ratio of 0.8, this translates to a value of 42-48 MSEK.
At the time of the issue in 2023, the company was valued post-money at just over 50 MSEK. The forecast then included growth and positive cash flow. The growth ambition is largely being fulfilled, but the turnaround in results is delayed, which may justify a slightly lower price.
The above factors have justified a price of 40 MSEK, which is approximately a 20% discount compared to the previous valuation.
We have already secured commitments from current owners for an investment of 3 MSEK and from additional investors for a further 0.6 MSEK. With these commitments and the ongoing issue, we aim to achieve total financing of up to 6 MSEK.
This offering provides existing and potential investors an opportunity to participate in Quick Office Holding’s growth journey and contribute to the company’s future successes.
“Quick Office has transformed over the past few years from a simple provider of subleases to a comprehensive service provider. Our unique selling point is our concept of shared spaces, where tenants share resources such as coffee machines, printers, and a dedicated office manager. This makes our way of working not only economically advantageous but also environmentally sustainable.
People long to meet and work together, and we are convinced that physical presence in the workplace is crucial for preserving and strengthening corporate culture, as well as for promoting efficiency and innovation.
I hope you share our vision that Quick Office is the office of the future. We are the place where businesses can grow and thrive, where you can adapt your premises to your current needs, and where you can be part of a dynamic and supportive community. We are the future, we are ‘the smarter choice.’
Thank you for your continued support and trust!”
Pernilla Ytterbring, CEO
Read the full investment invitation (opens in a new tab) >
Expanding Global Market: Post-pandemic, interest in hybrid offices and coworking has skyrocketed globally. This work model has proven to be not only flexible but also sustainable, opening up significant potential for the future. Forecasts indicate that the global coworking membership will reach five million by 2024, an increase of 160% since 2020, illustrating strong and growing demand.
Significant Membership Growth: Quick Office has experienced a remarkable membership growth of 390% over the past five years, equivalent to a compound annual growth rate (CAGR) of 37%. This impressive growth rate confirms the company’s ability to attract and retain members in a competitive market.
Extensive Experience and Scalable Model: With nearly 25 years of experience in operating and expanding office hotels and coworking units, Quick Office has developed a scalable business model. This experience equips them to effectively manage expansion and operational challenges.
Unique Market Position: Quick Office holds a unique position in the Swedish market by reaching target groups not covered by the largest players. Their ability to identify and capitalize on underserved segments can provide a strategic advantage.
Strong Growth Strategy: The company not only has a proven business model but also a clear strategy for continued growth. They have the necessary tools and plans in place to scale up quickly and efficiently, promising well for future expansions.
Solid Financial Performance: A key indicator of the company’s strength is EBITDA growth, which exceeded 10 MSEK over a three-year period. This growth indicates not only recovery but also a shift to a sustainable positive result, which is particularly important for investors seeking stability and profitable growth.
Financial Benefits for Shareholders: An attractive benefit offered to Quick Office shareholders is a 20% discount on the list price for all services provided, whether it’s office rooms, coworking spaces, or meeting rooms. This discount not only increases the value of being a shareholder but also facilitates the flexibility and availability of workspaces for the investors themselves, which can be particularly beneficial for those who regularly need access to such facilities.
These points, combined with a growing global market, make Quick Office an attractive investment opportunity for those looking to take advantage of the ongoing trend towards more flexible workplaces and the increasing demand for coworking services.
