(MENAFN- GlobeNewsWire - Nasdaq) itemprop="articleBody">
Company Announcement
Copenhagen, 27 May 2019
No. 09/2019
ISS (ISS.CO, ISS DC, ISSDY), a leading global provider of facility services, today announced that its current contract with Novartis maturing 31 December 2019 is not likely to be extended.
Revenue generated from Novartis amounted to DKK 2.0 billion in 2018 (2.8% of Group revenue) with an operating margin above Group average. The annualised first year net negative margin impact, including exit related costs, is expected to be 0.1-0.2 percentage points.
ISS expects no material impact in 2019. The outlook for 2019 as well as medium term targets remain unchanged.
To date ISS has successfully extended all other large Key Accounts otherwise maturing during 2018 and 2019, and our commercial momentum continues to be strong.
For investor enquiries
Martin Kjær Hansen, Head of Group Investor Relations, +45 3817 6431
Louisa Baruch Larsson, Senior Investor Relations Manager, +45 3817 6338
For media enquiries
Rajiv Arvind, Senior Communications Manager, +45 38 17 62 11
About ISS
ISS helps the world work better. In partnership with customers, ISS drives the engagement and well-being of people, minimises the impact on the environment, and protects and maintains property. ISS brings all of this to life through a unique combination of data, insight and service excellence at offices, factories, airports, hospitals and other locations across the globe. In 2018, ISS Group's global revenue amounted to DKK 73.6 billion. ISS has operations in more than 70 countries with 485,908 employees spread across Europe, Asia-Pacific and the Americas. For more information on the ISS Group, visit www.issworld.com
ISS A/S, ISIN DK0060542181, ISIN US4651472056
ISS Global A/S, ISIN XS1145526585, ISIN XS1330300341, ISIN XS1145526825
Attachment
ISS Announcement - Update on partnership with Novartis, 27052019
MENAFN2705201900703653ID1098573851
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.