ISS experienced “robust growth” in 2016 following the release of its financial results for the full year 2016.
The company’s organic revenue growth was 3.4 per cent for the year and its total revenue decreased by 1 per cent, driven by currency effects which reduced revenue by 3 per cent.
It had an operating margin of 5.8 per cent for the year and its cash conversion during the last twelve months was 98 per cent.
Jeff Gravenhorst, Group CEO, ISS A/S, said: “ISS had a good year in 2016 with robust growth, increased operating margin and profit, and strong cash flows.
“We saw a good Q4, driven by a high level of non-portfolio work, which enabled our organic growth to reach 3.4 per cent for the year. Integrated Facility Services continued to bolster our results including strong growth from our Global Corporate Clients.”
ISS strategic initiatives, including sharper focus on key customers, the procurement program and its global concepts and tools, will continue to be implemented according to plan and support positive margin development.
In 2017, ISS expects an organic revenue growth rate of 1.5 to 3.5 per cent, an operating margin above the 5.77 per cent achieved in 2016, and cash conversion above 90 per cent.