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UPGRADE OF FINANCIAL OUTLOOK DRIVEN BY FUNDAMENTAL BUSINESS IMPROVEMENTS

Firm Announcement

Copenhagen, 4 November 2021
No. 23/2021

HIGHLIGHTS

  • Organic advancement was .7% in the 1st 9 months of 2021 and 2.6% in Q3 2021. Natural and organic growth enhanced as a result of the 3rd quarter, predominantly in September, as clients started out to return to workplace in some geographies, which impacted action stages positively.

  • Portfolio revenue confirmed first signals of recovery, which much more than offset a smaller decrease in jobs and earlier mentioned-base work because of to lapsed ad-hoc Covid-19 related services.

  • Execution of the OneISS system progressed as prepared with ISS remaining further streamlined and standardised for improved long run execution.

  • The turnaround initiatives driving recovery of the underperforming contracts and countries and the restructurings initiated in response to Covid-19 ongoing to development as prepared.

  • 12 divestments had been signed or accomplished in the initially 9 months of 2021 corresponding to complete internet proceeds of about DKK 1.4 billion.

  • The outlook for natural progress is verified and nevertheless expected to be good. The outlook is upgraded for functioning margin and free money circulation as a outcome of the ongoing progress of the underperforming contracts and countries and development of the Covid-19 restructuring initiatives:

    • Working margin is now anticipated to be all-around 2.5% as opposed to beforehand “above 2%”

    • Cost-free money stream is now expected to be all-around DKK 1.5 billion in contrast to formerly “above DKK 1 billion”


Jacob Aarup-Andersen Group CEO, ISS A/S, says:

“In the 3rd quarter, we continued our function to build a healthier and fundamentally more powerful ISS. I am pretty happy with our capacity to execute on our OneISS approach when concurrently navigating a difficult natural environment with volatile exercise degrees as perfectly as superior wage inflation and shortage of certified personnel in specific regions.

We are seeing clients little by little returning to the office, albeit at various rate throughout geographies. We hope a continued calculated pace of return in the coming time period as infection degrees continue to be high in numerous countries generating a feeling of caution.

Our turnaround initiatives are clearly spending off and the accomplishment of our execution allows us to upgrade our outlook on functioning margin and cost-free money flow. Development on these two economic metrics is essential to create a healthy basis and attain our turnaround targets for 2022. I want to thank all workforce for obtaining this critical milestone and for being agile and passionate in their guidance to our prospects.”

For trader enquiries
Michael Bjergby, Head of Group Investor Relations, +45 31 37 41 71
Louisa Baruch Larsson, Senior Investor Relations Supervisor, +45 38 17 63 38


For media enquiries

Kenni Leth, Head of Worldwide PR & Media Relations, +45 51 71 43 68

About ISS

ISS is a leading place of work practical experience and facility management corporation. In partnership with consumers, ISS drives the engagement and perfectly-getting of people today, minimises the impression on the environment, and shields and maintains home. ISS delivers all of this to daily life by way of a exclusive mixture of info, insight and service excellence at offices, factories, airports, hospitals and other locations throughout the globe. In 2020, ISS Group’s global revenue amounted to DKK 70 billion. For additional facts on the ISS Team, visit www.issworld.com.

ISS A/S, ISIN DK0060542181, ISIN US4651472056, ISS World-wide A/S, ISIN XS2013618421, ISIN XS1145526825, ISIN XS1673102734, ISS Finance B.V., ISIN XS2199343513

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