Interim report for 1 January – 30 June 2025

Company Announcement

Copenhagen, 12 August 2025No. 47/2025

Interim report for 1 January, 30 June 2025

Continued robust financial development. Second tranche of the share buyback programme increased by DKK 500 million to DKK 1,750 million

Highlights

Financial performance

Organic growth was 3.8% in Q2 2025 (Q2 2024: 5.8%), and 4.1% in H1 2025 (H1 2024: 5.9%), mainly driven by price increases and projects and above-base work, partially offset by net negative contract wins as previously communicated.

Operating margin before other items (excl. IAS 29) improved to 4.2% in H1 2025 from 4.0% in H1 2024 as a result of continued operational improvements across the Group.

Free cash flow improved to DKK (0.5) billion in H1 2025 (H1 2024: DKK (1.1) billion) mainly due to increased operating profit and improved changes in working capital.

Business update

ISS secured six new large key account contracts, each with annual revenue above DKK 100 million, alongside several smaller and mid-sized local IFS contracts. In addition, a number of existing contracts were extended, several with significant scope expansions of above DKK 100 million.

Strategy execution developed according to plan, where especially commercial model, workforce management and finance shared service centre gained momentum.

The final oral ...