Outlook for 2024 and decision to initiate share buyback programme
22 February 2024 - 5:30PM
Outlook for 2024 and decision to initiate share buyback programme
Company Announcement
Copenhagen, 22 February 2024 No. 2/2024
Outlook for 2024 and decision to
initiate share buyback programme
ISS A/S, a leading workplace experience and
facility management company, is today announcing outlook for 2024.
The outlook is excluding any effects of hyperinflation (IAS
29).
- Organic growth is expected to be 4 – 6%.
- Operating margin is expected to be above 5%
- The expectation for free cash flow is based on an underlying
free cash flow of above DKK 2.4 billion, equalling a cash
conversion of above 60%. However, in 2024 free cash flow is
expected to be above DKK 1.8 billion (2023: DKK 1.8 billion),
adversely impacted by timing effects including certain payments
being withheld by Deutsche Telekom.
Additionally, the Board of Directors has decided
to initiate a share buyback programme of DKK 1 billion to be
executed over a 12-month period.
ISS publishes its Annual Report 2023 and H2 2023
Report on 22 January 2024.
The forward-looking statements on page 117 of
Annual Report 2023 also apply to this company announcement.
About ISS
ISS is a leading, global provider of workplace and facility
service solutions. In partnership with customers, ISS drives the
engagement and well-being of people, minimises the impact on the
environment, and protects and maintains property. ISS brings all of
this to life through a unique combination of data, insight and
service excellence at offices, factories, airports, hospitals and
other locations across the globe. ISS has more than 350,000
employees around the globe, who we call “placemakers”. In 2022,
Group revenue was DKK 73.8 billion. For more information on the ISS
Group, visit www.issworld.com.
ISS A/S, ISIN DK0060542181, ISIN US4651472056, ISS
Global A/S, ISIN XS2013618421, ISIN
XS1145526825, ISIN XS1673102734, ISS Finance B.V.,
ISIN XS2199343513
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