ISS sees revenue pick up in Q2 as restrictions ease

Global catering and facilities management group, ISS has published its Interim report for 1 January - 30 June 2021.

Organic growth was (0.2)% in H1 2021 (H1 2020: (3)%) and 5.8% in Q2 2021 (Q1 2021: (5.6)%), supported by continued solid demand for above-base work, especially deep-cleaning and disinfection.

Portfolio revenue continues to be impacted by generally moderate reopening of global activities with large variations across geographies.

Operating margin (before other items) was 1.5% in H1 2021 (H1 2020: (2.2)% or around 0% excluding restructuring costs and one-offs).

Group CEO Jacob Aarup-Andersen (pictured) said, “The first half of 2021 was an important period for ISS, where we have built a solid foundation for the new operating model and our short-term turnaround.

'The business environment continues to be challenged by Covid-19 restrictions, but it is truly inspirational to see the resilience and agility of our frontline employees as they support our customers’ health and productivity.'

Aarup-Andersen continued, 'I am also pleased to see how the ISS organisation is coming together under the OneISS strategy. The underlying financial performance is developing well, driven by our turnaround initiatives.

'The opportunities to improve our financial performance are significant, and we are moving in the right direction. At the same time, we acknowledge that we have a lot of hard work in front of us.”