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“Strong organic growth” across first six months of 2019 reported by FM specialist ISS Group in latest set of financial statements

Posted On 25 Sep 2019
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ISS, the global provider of facility services managed by CEO Jeff Gravenhorst (pictured), has published its interim financial report for the first six months of 2019. Revenue increased by 5.0% in H1 and 5.0% in Q2 (Q1 2019: 4.9%) driven by organic growth and positive currency effects, partly offset by negative net impact from acquisitions and divestments of 1.5%.

There has been organic revenue growth of 6.0% in H1 and 5.8% in Q2 (Q1 2019: 6.1%) underpinned by wins and expansions of key account contracts following strong commercial momentum and continued solid non-portfolio demand in the first half of this year.

Revenue from key accounts grew organically by 7.9% in H1 and 7.7% in Q2 and represented 61% of Group revenue (Q1 2019: 60%).

Operating profit before other items amounted to DKK 1,418 million in H1 (H1 2018: DKK 1,395 million).

The operating margin of 3.7% in H1 (H1 2018: 3.9%) directly reflects the launch of the previously announced transformational investments (2019-2020), renewals and start-ups of a number of significant key account contracts as well as operational challenges in certain countries.

Net profit (adjusted) increased to DKK 822 million in H1 (H1 2018: DKK 704 million) due to improved net profit from discontinued operations. Net profit was DKK 402 million in H1 (H1 2018: loss of DKK 130 million), driven for the most part by lower goodwill impairment.

Free cash flow was an outflow of DKK 2,671 million for H1 (H1 2018: an outflow of DKK 1,401 million) driven by the usual seasonality as well as a significant reduction in the use of non-recourse factoring, in turn leading to a higher cash outflow from operating activities.

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About the Author
Brian Sims BA (Hons) Hon FSyI, Editor, Risk Xtra (Pro-Activ Publications) Beginning his career in professional journalism at The Builder Group in March 1992, Brian was appointed Editor of Security Management Today in November 2000 having spent eight years in engineering journalism across two titles: Building Services Journal and Light & Lighting. In 2005, Brian received the BSIA Chairman’s Award for Promoting The Security Industry and, a year later, the Skills for Security Special Award for an Outstanding Contribution to the Security Business Sector. In 2008, Brian was The Security Institute’s nomination for the Association of Security Consultants’ highly prestigious Imbert Prize and, in 2013, was a nominated finalist for the Institute’s George van Schalkwyk Award. An Honorary Fellow of The Security Institute, Brian serves as a Judge for the BSIA’s Security Personnel of the Year Awards and the Securitas Good Customer Award. Between 2008 and 2014, Brian pioneered the use of digital media across the security sector, including webinars and Audio Shows. Brian’s actively involved in 50-plus security groups on LinkedIn and hosts the popular Risk UK Twitter site. Brian is a frequent speaker on the conference circuit. He has organised and chaired conference programmes for both IFSEC International and ASIS International and has been published in the national media. Brian was appointed Editor of Risk UK at Pro-Activ Publications in July 2014. Brian was launch Editor for The Paper in September 2015 and appointed Editor of Risk Xtra in May 2018.
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