Update on partnership with Novartis

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. 

Martin Kjær Hansen, Head of Group Investor Relations, +45 3817 6431

Louisa Baruch Larsson, Senior Investor Relations Manager, +45 3817 6338

Rajiv Arvind, Senior Communications Manager, +45 38 17 62 11