Denmark · Delayed Price · Currency is DKK ISS A/S Earnings Call Transcripts
Fiscal Year 2026
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A simplified, customer-centric strategy targets above 5% organic growth and 5.5–6.0% margin by 2028, driven by operational efficiency, digitalization, and disciplined capital allocation. North America and key segments are prioritized for growth, with social sustainability and employee engagement as differentiators. Earnings per share and cash generation are set to rise significantly.
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Strong H1 2026 results featured 8.9% organic growth in Q2, improved margins, and robust cash flow, supported by a major Deutsche Telekom contract extension and Tomagruppen integration. Full-year guidance is reaffirmed, with balanced growth drivers and a 95% retention rate.
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Q1 2026 saw 7.4% organic growth, strong contract wins, and positive momentum across key regions. Guidance for the year is reaffirmed, with above 5% organic growth and margin, and robust cash flow expected. The Türkiye acquisition and disciplined capital allocation further strengthen the outlook.
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The AGM highlighted strong financial results, strategic progress, and enhanced shareholder returns, with all board proposals and re-elections approved. Focus areas included organic growth, disciplined M&A, and continued investment in people and technology.
Fiscal Year 2025
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Solid 2025 results with 4.3% organic growth, 9% EPS increase, and margin above 5%. 2026 guidance targets above 5% organic growth, continued margin strength, and robust cash flow, supported by a new DKK 2.5 billion share buyback and disciplined capital allocation.
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Q3 2025 delivered 4.9% organic growth, driven by price increases and volume gains, with strong contract momentum and improved retention. Guidance for 2025 is narrowed to 4%-5% growth, margins above 5%, and robust cash flow, setting up for a strong 2026.
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First half 2025 results met expectations with 4.1% organic growth and a 4.2% margin, driven by price increases and operational discipline. Guidance for the year is reaffirmed, with strong cash flow and a DKK 500 million increase in share buybacks.
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Q1 2025 saw 4.3% organic growth, driven by price increases and strong above-base activity, with customer retention at 94%. Guidance for 2025 is reconfirmed, with growth expected to accelerate in the second half and a 10% payout yield through dividends and buybacks.
Fiscal Year 2024
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2024 saw strong organic growth, margin improvement, and robust cash flow, with strategic refinements and leadership changes positioning for continued growth in 2025. Guidance anticipates 4%-6% organic growth, margin above 5%, and a DKK 2.5 billion share buyback.
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Q3 2024 results met expectations, with organic growth driven by price increases and margin improvements. Guidance for 2024 is reaffirmed, with a strong capital position, expanded share buyback, and positive credit outlook, while net contract wins are expected to turn positive in 2025.
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Organic growth reached 5.9% in H1 2024, with margin up to 4.0% and strong contract wins supporting a narrowed full-year growth outlook of 5%-6%. Free cash flow was negative due to seasonality and withheld payments, but leverage and capital allocation remain robust.