Danish facility services provider ISS A/S on Tuesday said it would increase its share buyback program, even as it reported a slowdown in organic growth for the second quarter.
Organic growth was 3.8% in the second quarter, down from 5.8% in the same period a year earlier, which the company attributed mainly to the impact of net negative contract wins.
The company said it will increase the second tranche of its 2025 share buyback program by 500 million Danish Kroner to 1.75 billion Danish Kroner, bringing the total planned buyback for the year to 3.0 billion Danish Kroner.
The announcement came a day after ISS concluded the first tranche of the program, worth 1.25 billion Danish Kroner.
For the first half of 2025, the operating margin improved to 4.2% from 4.0% a year prior, while free cash flow also improved, according to the company.
“Additionally, with our strong capital position, we’ve decided to increase our share buyback programme by DKK 500 million,” Group CEO Kasper Fangel said in a statement.
ISS maintained its full-year outlook, forecasting organic growth of 4% to 6% and an operating margin above 5%.
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Danish facility services group ISS A/S on Wednesday reported a corporate credit rating upgrade from Moody's and provided an update on its recently increased share buyback program.
Danish facility services provider ISS said on Tuesday it would increase its share buyback program by 500 million Danish kroner, bringing the total to 3.0 billion kroner.