The ISS interim report for the first half of this year shows organic growth of 8.0 per cent from April to June, up from 6.7 per cent in the first quarter. It also reports that total revenue of DKK 18.9 billion in Q2 was 3 per cent above pre-pandemic revenue for the period in 2019 adjusted for M&A and foreign exchange.
According to the facilities services group, growth was driven by continued return-to-office trends, customers’ increased investments in the attractiveness of the workplaces and implemented price increases. In Q2 2022, portfolio revenue grew organically by 11 per cent.
Based on this performance, the outlook is upgraded for all financial KPIs. Organic growth is now expected to be above 5 per cent, operating margin is expected to be above 3.75 per cent.
Jacob Aarup-Andersen Group CEO, ISS A/S, said:
“The results in the first half of 2022 mark another important milestone in our financial turnaround. I am pleased to see how this has been executed in volatile markets, while also establishing a new operating model for future performance.
“This is a testament to all the hard work from every ISS colleague during this important period. As we are emerging well from the pandemic, the foundation of ISS has substantially improved – we have completed the divestment programme, recovered financial performance and reduced financial leverage faster than targeted.
“This leaves us well positioned to gain further momentum in the marketplace, manage inflation and support our customers in a continued dynamic business environment”.