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.
The company's rating was upgraded to Baa2 with a stable outlook from Baa3 on Oct. 28, according to its third-quarter trading update.
ISS said its 2025 share buyback program was increased in August by 500 million Danish kroner to a total of 3.0 billion Danish kroner.
Organic growth for the third quarter was 4.9%, which the company attributed mainly to price increases and volume growth.
The company narrowed its full-year organic growth outlook to a range of 4% to 5%, from a previous forecast of 4% to 6%, citing changes in contract timing.
Its outlook for an operating margin above 5% and free cash flow above 2.4 billion Danish kroner was confirmed.
“I’m pleased that we continue to deliver robust financial results in line with our expectations for the year,” Group CEO Kasper Fangel said.
“We are advancing the execution of our strategic priorities, which are delivering tangible benefits - from greater efficiency and a stronger global employer position to more customer-focused growth.”
The company also recently completed the acquisitions of Garbialdi in Spain and Franye Group in Austria.
More from this issuer
Related coverage
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.
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.