Promising start to the year with continued business improvements
2024年5月2日 - 2:30PM
Promising start to the year with continued business improvements
Company Announcement
Copenhagen, 2 May 2024 No. 19/2024
Trading update for 1 January – 31 March
2024
Promising start to the year with continued
business improvements
Highlights
- Organic growth was 6.0% in Q1 2024 (Q1 2023: 12.0%). Total
revenue for the quarter amounted to DKK 20.1 billion (Q1 2023: DKK
19.3 billion).
- The organic growth development was mainly driven by successful
implementation of price increases to offset wage increases and
general cost inflation and volume growth.
- The operating margin developed in line with plan. This was
mainly driven by continued operational improvements and
efficiencies. Costs related to mobilisation of contracts won in
2023 have been incurred in the quarter.
- During the first months of the year, ISS has secured several
smaller and mid-sized local IFS contract wins and extended
contracts with Nordea and a global bank.
- In the beginning of April 2024, the divestment of ISS France
was completed. Financial leverage remains broadly unchanged
following the divestment.
- ISS has strengthened its position in the Swiss market with the
bolt-on acquisition of gammaRenax, which adds scale within
prioritised service lines and customer segments. The transaction
will add around 0.6% to Group annual revenue and was completed at
the end of April 2024.
- The arbitration process with Deutsche Telekom is progressing
according to plan. As described in the Annual Report 2023, Deutsche
Telekom is withholding certain payments to ISS related to the
services delivered. This situation is currently unchanged.
- On 3 June 2024, Mads Holm will take up the position as Group
CFO and member of the Executive Group Management Board.
- The 2024 outlook is confirmed for all three financial KPIs.
Organic growth is still expected to be 4 – 6%, and the operating
margin is still expected to be above 5%. Free cash flow is still
expected to be above DKK 1.8 billion impacted by timing effects
including certain payments being withheld by Deutsche Telekom.
Kasper Fangel Group CEO, ISS A/S,
says: “I’m pleased that we had a promising start to the
year with robust organic growth and continued business
improvements. We have strengthened our operational execution in our
markets and the expected financial outcomes are being realised.
This is a testament to the professionalism and dedication of our
more than 350,000 employees worldwide, without whom ISS would not
be the company we are today. Creating opportunities for our people
goes hand in hand with achieving commercial results, and this is
why we are now advancing our efforts in social sustainability even
further. For instance, through initiatives such as our new
‘Education for All’ programme in India, where ISS is funding
employees to complete their 10th to 12th grade education.”
For investor enquiries Jacob Johansen, Head of
Group Investor Relations, +45 21 69 35 91 Kristian Tankred, Senior
Investor Relations Manager, +45 30 67 35 25
For media enquiries Charlotte Holm, Head of
External Communication, +45 41 76 19 89
About ISS
ISS is a leading, global provider of workplace and facility
service solutions. In partnership with customers, ISS drives the
engagement and well-being of people, minimises the impact on the
environment, and protects and maintains property. ISS brings all of
this to life through a unique combination of data, insight and
service excellence at offices, factories, airports, hospitals and
other locations across the globe. ISS has more than 350,000
employees around the globe, who we call “placemakers”. In 2023,
Group revenue was DKK 78.7 billion. For more information on the ISS
Group, visit www.issworld.com.
ISS A/S, ISIN DK0060542181, ISIN US4651472056, ISS
Global A/S, ISIN XS2013618421, ISIN
XS1145526825, ISIN XS1673102734, ISS Finance B.V.,
ISIN XS2199343513
- ISS Announcement - Q1 2024 Trading Update
- ISS AS Q1 2024 Trading Update
ISS AS (TG:QJQ)
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