Danish ISS grows profits, sets share buyback plan

Denmark’s ISS, a service company, reported a 4.6 billion DKK operating profit in 2023, rising from 4.4 billion the previous year, according to its published annual report. Revenue also increased to 78.7 billion DKK from 73.8 billion. However, this was below analysts’ expectations, who had forecasted an operating profit of around 5 billion DKK. CEO Kasper Fangel expressed confidence in the numbers, noting strong strategic, operational, and financial results. ISS plans to launch a 1 billion DKK share buyback program over 12 months and suggests a dividend payment of 20% of the year’s profit. The company, with services like cleaning and catering, and about 350,000 employees globally, anticipates a 4-6% organic growth rate in 2024, following a 9.7% organic growth in 2023.