GlobeNewswire by notified

Continued strong organic growth and strengthened focus on the execution of the OneISS strategy

Share

Company Announcement

Copenhagen, 1 November 2023
No. 27/2023

Trading update for 1 January – 30 September 2023

Continued strong organic growth and strengthened focus on the execution of the OneISS strategy

Highlights

  • Organic growth was 9.3% in Q3 2023 and 10.7% for the first nine months of 2023. Total revenue for the quarter amounted to DKK 20.0 billion.
  • The continued strong organic growth in Q3 2023 was driven by price increases and underlying volume growth. Organic growth for projects and above-base work was slightly positive.
  • The OneISS strategic direction remains unchanged. Now, three years after the launch of the strategy, the new and streamlined Executive Group Management team has reviewed and prioritised OneISS initiatives to ensure all initiatives generate the expected value and strengthen the strategic execution. 
  • The enhanced focus on strategic initiatives is expected to generate operational benefits and cost savings of an estimated DKK 200-250 million annually with the majority expected to have effect in 2024. Related to the review, one-off costs of around DKK 200-250 million are expected to be recognised in H2 2023.
  • Improvements in underlying margin have been realised, and ISS is well on track to deliver the targeted operating margin of above 5% in 2024.
  • Commercial development remained solid, and customer retention rate was maintained at a high level at 95% (LTM).
  • The divestment process of ISS France is developing in line with plan. Due diligence is in progress with potential buyers. In Spain, the bolt-on acquisition of Grupo Fissa was completed in September 2023. The integration is progressing according to plan and is expected to be finalised during Q1 2024.
  • The 2023 outlook is updated. Organic growth is now expected to be around 9% (previously ‘7 – 9%’). Operating margin remains within the previous range (‘4.25% - 4.75%') with underlying margin expected to be around 4.6%. Including one-off costs related to the OneISS review, operating margin is expected to be reported at around 4.3%. Given the high growth, free cash flow is now expected to be around DKK 1.8 billion (previously around DKK 2.0 billion).


Kasper Fangel Group CEO, ISS A/S, says:

“It is satisfying that our strong growth and development throughout 2023 was maintained in the third quarter. ISS is well on track to deliver on our financial targets for 2024. The demand for our services is still increasing across markets and we are constantly focusing on improving our service offerings whilst delivering best-in-class service experiences for our many customers world-wide – achieved through the tireless efforts of our more than 350,000 dedicated placemakers. The OneISS strategy execution continues to drive value. We launched the strategy three years ago and during the second half of this year we have reviewed and focused the strategic initiatives to further improve the execution, accelerate strategic development and continue to build a stronger and value-creating ISS. This will enhance our ability to seize the opportunities that lie ahead.”

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
Kenni Leth, Director of External Communications, +45 51 71 43 68

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 2022, Group revenue was DKK 73.8 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


Attachments

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Fluence Responds to Misleading Short Seller Report22.2.2024 23:32:54 CET | Press release

ARLINGTON, Va., Feb. 22, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (“Fluence” or “the Company”) (NASDAQ: FLNC), a leading global provider of energy storage products, services, and optimization software for renewables and storage, today issued a statement in response to a report published by a known short-seller. The Company believes that the report is an attempt by a self-interested short-seller to profit at the expense of Fluence’s shareholders by manipulating Fluence’s stock price. We believe that the report contains numerous inaccuracies and distortions. The Company believes it is important to set the record straight regarding three blatant misrepresentations: The short-seller's report references pending litigation between Fluence and Siemens Energy, attempting to characterize it as a "critical and dramatic development." While any dispute with a customer is unfortunate, this is a small, ordinary course commercial dispute arising from a single project. Fluence brought the action

Galapagos announces full year 2023 results and outlook for 202422.2.2024 22:01:00 CET | Press release

Full year 2023 key financials: Group net revenues of €783.5 million, including Jyseleca® net sales of €112.3 million Cash and current financial investments of €3.7 billion on 31 December 2023Operational cash burni of €414.8 million, within guidance 2023 and year-to-date key updates: Transferred Jyseleca® business, including approximately 400 positions, to Alfasigma S.p.A.Achieved encouraging data from ongoing Phase 1/2 studies with CD19 CAR-T product candidates, GLPG5101 in rrNHL and GLPG5201, in rrCLL, with or without RTExpanded CAR-T pipeline with start of Phase 1/2 study with BCMA CAR-T product candidate GLPG5301 in rrMMEnrolled first patients in Phase 2 study with TYK2 inhibitor, GLPG3667, in DM and SLEFor strategic reasons, it was decided not to continue development of CD19 CAR-T candidate in rSLEExpanded point-of-care CAR-T network in the U.S. with manufacturing agreements with Landmark Bio and Thermo Fisher Scientific Signed strategic research and license collaboration with Brid

Press Release: Sanofi’s Board of Directors proposes the appointment of Clotilde Delbos, Anne-Françoise Nesmes and John Sundy as independent Directors22.2.2024 19:02:45 CET | Press release

Sanofi’s Board of Directors proposes the appointment of Clotilde Delbos, Anne-Françoise Nesmes and John Sundy as independent Directors Paris, February 22, 2024. At its meeting on February 22, 2024, Sanofi’s Board of Directors has decided to propose, on the occasion of its next General Shareholder Meeting to be held on April 30, 2024, the renewal of the terms of office of Rachel Duan and Lise Kingo and the appointment of Clotilde Delbos, Anne-Françoise Nesmes and John Sundy as independent Directors. Diane Souza, Member of the Audit and Compensation Committees, and Thomas Südhof, Chairman of the Scientific Committee, will leave the Board of Directors at the end of their second terms. The Chairman warmly thanked them for their valued contribution to the Board of Directors and the specialized committees to which they belonged during their terms in office. The Chairman specified that, in order to prepare as effectively as possible for the end, in 2025, of the term of office as director of F

EVS reports 2023 results22.2.2024 18:30:00 CET | Press release

Publication on February 22, 2024, after market closing Regulated and inside information – Press release annual results EVS Broadcast Equipment S.A.: Euronext Brussels (EVS.BR), Bloomberg (EVS BB), Reuters (EVSB.BR) EVS reports 2023 results Liège, Belgium, February 22nd, 2024 EVS further delivers profitable growth in 2023, validating the effectiveness of its PlayForward strategy The robust financial performance of EVS in 2023 underscores the effectiveness of the implemented strategy aimed at fostering sustained and profitable long-term growth. Despite the absence of significant Big Event Rental revenue in an uneven year 2023, EVS achieved record-breaking revenue and demonstrated strong profitability. This success serves as a testament to the efficacy of its PlayForward strategy. Full-year Highlights Order intake outpacing revenue at EUR 192.9 million, including EUR 7.4 million of Big Event Rental (BER).Revenue performance landing north of our guidance at EUR 173.2 million, growing 16.9%

RevoluGROUP Canada Inc. Issues Incentive Share Options22.2.2024 18:23:23 CET | Press release

VANCOUVER, British Columbia, Feb. 22, 2024 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2), (Munich: A2PU92) (the "Company") announces that incentive share options to purchase up to 5,200,000 common shares of the Company were granted to consultants and Directors of the Company, with an exercise price of $0.05 per share. The incentive share options have been granted pursuant to the Company's 10% rolling stock option plan and will expire twenty-four months from the grant date. Should all announced options be exercised in the term, the aggregate amount payable to the treasury would be CA $ 260,000. The options are to be granted as shown below: Francisco Moreno Balboa1,500,000Gavin McMillan500,000Bernard Lonis500,000Alfredo Manresa Ruiz500,000Fernando Guillen Hernandez500,000 An additional 1,700,000 options were also granted to consultants in the Company who have provided valuable assistance in the development of products, business development, solution integra

HiddenA line styled icon from Orion Icon Library.Eye