ISS, the global provider of facility services, has announced its financial results for the fourth quarter and full year 2018.
Organic growth of 3.9% for the continuing operations in 2018 and 4.1% in Q4 (Q3 2018: 4%), supported by strong organic growth with key accounts (2018: 5.5%).
Total revenue was flat for the year (and positive 1% in Q4) as the strong organic growth was reduced by a negative impact from foreign exchange effects of 3.4%, and a negative net impact from acquisitions and divestments of 0.5%.
Jeff Gravenhorst, Group CEO, ISS A/S, said, “We delivered on our 2018 outlook for organic growth, operating margin and cash conversion. This was largely due to our commercial momentum, which was strong throughout the year, with significant wins, expansions and extensions within our key accounts, both local and global.
'Our accomplishments in 2018 clearly demonstrate that our key account focus is delivering and is a strong testimony to the ISS Way strategy that has stricter choice making at its core on the customers we wish to serve, the services we provide and the geographies where we would like to serve. Consequently, we have significantly simplified our business, reducing complexity and risk.
'Our accelerated two-year investment programme in technology platforms and service areas such as Technical Services and Catering will strengthen our delivery capabilities to Key accounts even further, in a market place that offers long-term growth potential. Our strong commercial pipeline has already ensured a strong platform leading into 2019.”