ISS has seen its revenue increase by 4.9 % in Q1 2019 (Q4 2018: 0.5%), which its reports was mainly due to organic growth, and a marginally positive currency effect, partly offset by negative net impact from acquisitions and divestments of 1.8%.
The company’s latest financial results also saw a growth of 6.1% in organic revenue for Q1 2019 (Q4 2018: 4.1%) driven by continued strong commercial momentum with key account contract wins and expansions as well as continued solid non-portfolio demand.
Revenue from key accounts also increased organically by 8.7% in Q1 2019 and represents 60% of Group revenue (2018: 59%).
Looking ahead at the rest of 2019, ISS says it outlook for organic revenue growth, operating margin and free cash flow remains unchanged.
Commenting on the results, Jeff Gravenhorst, Group CEO, ISS A/S, said: “We had a strong commercial start to the year. Our focus on key accounts continues to bear fruit.
“We signed a significant new contract with the Danish Building and Property Agency in Denmark. In addition, we successfully extended and expanded large key account contracts such as Santander in the UK, Singapore General Hospital and an international Food and Beverage customer.
“The divestments of our remaining non-core assets are progressing well. We will gradually reinvest divestment proceeds in strengthening our delivery capabilities and platform. With this, ISS will continue to grow stronger.”
Join 12,000 other FMs from over 46 countries at ExCeL London from the 18-20 June 2019. You and your team will learn from skilled trainers in CPD-accredited seminars and workshops at the only IWFM supported exhibition. You’ll test, trial and source smart solutions across technology, cleaning, FM services, waste and energy management. You’ll meet enthusiastic suppliers to identify new collaborations. By registering, you’ll also gain access to three neighbouring shows to enhance your specialisms across fire, security and health and safety. Get your free ticket for Facilities Show.