Denmark · Delayed Price · Currency is DKK ISS A/S Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw 7.4% organic growth, strong above-base contributions, and positive contract momentum, especially in Europe and Türkiye. Full-year guidance is reconfirmed, with balanced growth drivers and robust cash flow expected. EPS uplift from Türkiye consolidation will be fully realized in 2027.
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The AGM highlighted robust financial results, a 9% EPS increase, and a DKK 3.2 per share dividend. Strategic focus remains on organic growth, efficiency, and disciplined M&A, with all board proposals and re-elections approved. Geopolitical risks and the Deutsche Telekom dispute were noted as ongoing challenges.
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.