Key figures
| DKK million (unless otherwise stated) |
2011 |
2010 |
2009 |
2008 |
2007 |
| KEY FIGURES1
| |
|
|
|
|
| Income statement
| |
|
|
|
|
| Revenue
| 77,644 |
74,073 |
69,004 |
68,829 |
63,922 |
| Operating profit before other items2
| 4,388 |
4 ,267 |
3,874 |
4,061 |
3,835 |
| EBITDA
| 5,020 |
4,999 |
4,145 |
4,622 |
4,484 |
| Adjusted EBITDA3
| 5,243 |
5,117 |
4,742 |
4,930 |
4,680 |
| Operating profit4
| 4,165 |
4,149 |
3,277 |
3,753 |
3,639 |
| Financial income
| 197 |
198 |
223 |
242 |
199 |
| Financial expenses
| (3,004) |
(2,566) |
(2,531) |
(2,973) |
(3,216) |
| Profit before goodwill impairment/amortisation and impairment of brands and customer contracts
| 471 |
1,031 |
385 |
494 |
376 |
| Net profit/(loss) for the year
| (507) |
(532) |
(1,629) |
(631) |
(442) |
| Cash flow
| |
|
|
|
|
| Cash flow from operating activities
| 3,676 |
4,036 |
3,732 |
4,334 |
3,713 |
| Acquisition of intangible assets and property, plant and equipment not related to acquisitions, net
| (1,010) |
(886) |
(897) |
(718) |
(715) |
| Financial position
| |
|
|
|
|
| Total assets
| 55,023 |
55,435 |
54,354 |
53,605 |
55,348 |
| Goodwill
| 27,170 |
27,747 |
27,434 |
27,259 |
27,593 |
| Additions to property, plant and equipment not related to acquisitions, gross
| 938 |
861 |
954 |
964 |
938 |
| Carrying amount of net debt5
| 29,905 |
30,619 |
30,886 |
29,639 |
29,086 |
| Total equity (attributable to owners of ISS A/S)
| 2,070 |
2,626 |
2,190 |
3,498 |
5,459 |
| Employees
| |
|
|
|
|
| Number of employees at 31 December
| 534,500 |
522,700 |
485,800 |
472,800 |
438,100 |
| Full-time employees, %
| 73 |
73 |
71 |
69 |
68 |
| FINANCIAL RATIOS1
| |
|
|
|
|
| Growth, %
| |
|
|
|
|
| Organic growth6
| 6.2 |
3.5 |
0.6 |
5.9 |
6.0 |
| Acquisitions
| 0 |
0 |
3 |
7 |
10 |
| Divestments
| (2) |
(2) |
(1) |
(2) |
(1) |
| Currency adjustments7
| 1 |
5 |
(3) |
(3) |
(0) |
| Total revenue growth
| 5 |
7 |
0 |
8 |
15 |
| Other financial ratios, %
| |
|
|
|
|
| Operating margin3
| 5.7 |
5.8 |
5.6 |
5.9 |
6.0 |
| Equity ratio
| 3.8 |
4.7 |
4.0 |
6.5 |
9.9 |
| Interest coverage3
| 1.9 |
2.2 |
2.1 |
1.8 |
1.6 |
| Cash conversion3
| 93 |
98 |
96 |
103 |
99 |
| Basic earnings per share (EPS), DKK1
| (5.1) |
(5.5) |
(16.5) |
( 6.4) |
(4.7) |
| Diluted earnings per share, DKK1
| (5.1) |
(5.5) |
(16.5) |
(6.4) |
(4.7) |
| Adjusted earnings per share, DKK1
| 4.7 |
10.3 |
3.9 |
4.9 |
3.8 |
1 For definitions, click here.
2 Excluding Other income and expenses, net, Acquisition and integration costs, Goodwill impairment and Amortisation and impairment of brands and
customer contracts.
3 The Group uses Operating profit before other items for the calculations instead of Operating profit. Consequently, the Group excludes from the
calculations Acquisition and integration costs and those items recorded under Other income and expenses, net, in which the Group includes income
and expenses that it believes do not form part of the Group’s normal ordinary operations, such as gains and losses arising from divestments, the
winding up of operations, disposals of property and restructurings. Some of these items are recurring and some are non-recurring in nature.
4 Excluding Goodwill impairment and Amortisation and impairment of brands and customer contracts.
5 With effect from 31 December 2010 the fair value of interest rate swaps hedging the interest rate of loans and borrowings has been reclassified from
Other liabilities to Loans and borrowings. Comparative figures have been restated accordingly.
6Previously, acquisitions with reported annual revenue of DKK 50 million or more as well as acquisition of businesses that established ISS presence in
a new jurisdiction were excluded from the calculation of organic growth during the first 12 months of ISS ownership. This has been changed in 2010
in order to align to a single-string calculation methodology for acquisitions. The change has been implemented retroactively for the financial years
2008, 2009 and 2010. There was no significant impact on the reported figures for 2009 and 2010 while organic growth for 2008 increased from 5.3%
to 5.9% under the new calculation principle. For definitions, click here.
7 Calculated as total revenue growth less organic growth and less net acquisition/divestment growth. Currency adjustments thereby include the effect
stemming from exclusion of currency effects from the calculation of organic growth and net acquisition/divestment growth.