Update of outlook for 2023
Company Announcement
Copenhagen, 1 November 2023
No. 26/2023
Update of outlook for 2023
ISS A/S, a leading workplace experience and facility management company, has today, on the back of the performance in the first nine months and expectations for the rest of the year updated its outlook for 2023 for all three financial KPIs. The outlook is excluding any effects of hyperinflation (IAS 29).
- Organic growth is now expected to be around 9% compared to 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 a review of OneISS initiatives, 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).
ISS publishes its Trading update for 1 January – 30 September 2023 on 1 November 2023.
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
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