Annual Report 2006 ISS Global A/S

Key Figures
Amounts in DKK millions (unless otherwise stated) 2006
Revenue 55,784
Operating profit before other items 3,293
EBITDA 1)
3,536
1), 2)
Adjusted EBITDA 4,033
Operating profit 3)
2,796
Net finance costs (1,183)
Profit before impairment/amortisation of intangibles 982
3), 4)
Net profit for the year 734
Investments in property, plant and equipment, gross (864)
Cash flow from operating activities 5)
Investments in intangible assets,
3,006
property, plant and equipment, net (831)
Free cash flow 1)
2,175
Total assets 38,898
Goodwill 20,065
Carrying amount of net debt 1)
20,243
Non-interest-bearing debt, net 1)
232
Interest-bearing debt, net 1)
20,011
Total equity 4)
Financial ratios
1,678
1)
Operating margin before other items, % 5.9
Interest coverage 3.4
1) 6)
Cash conversion, % 95
Employees on full-time, % 66
Number of employees 391,400
Growth
Organic growth, % 7)
Acquisitions, net, % 7)
Currency adjustments, % 7)
Total revenue, % 7)
Operating profit before other items, % 7)
1) See page 123 for definitions.
ANNUAL REPORT 2006 / Key Figures
5.5
15
-
20
15
IFRS
2005
46,453
2,863
2,940
3,510
2,293
(505)
1,299
965
(619)
1,610
(542)
1,068
31,782
16,642
16,128
443
15,685
2,192
6.2
7.0
102
61
310,800
3
11
1
15
18
2004
40,365
2,421
2,411
3,027
1,805
(347)
1,022
633
(618)
2,156
(550)
1,606
28,900
15,384
9,468
249
9,219
7,106
6.0
8.7
123
57
273,500
1.5
11
(0)
12
9
Danish GAAP
2004 2003
40,365
2,431
2,531
3,037
1,925
(352)
1,100
(58)
(618)
2,198
(550)
1,648
27,771
15,494
9,468
249
9,219
6,720
6.0
8.6
118
57
273,500
1.5
11
(0)
12
9
36,174
2,234
2,331
2,806
1,759
(306)
946
83
(490)
2,200
(413)
1,787
21,485
12,465
6,806
-
6,806
6,086
6.2
9.2
157
55
245,000
(2)
(0)
(3)
(5)
2
2002
37,991
2,187
2,171
2,775
1,583
(410)
796
(55)
(572)
2,292
(495)
1,797
21,738
12,669
7,244
-
7,244
6,106
5.8
6.8
173
53
248,500
Note: Except for the key figures derived from the consolidated financial statements on pages 40-101 of this report, the key figures above are not measures
of financial performance under Danish GAAP or IFRS. ISS Global includes these financial measures because it believes that they are appropriate
measures of ISS Global's financial performance. Other companies, including those in ISS Global's industry, may calculate similarly titled financial
measures differently. The applied accounting policies are described in note 1.
2)
Adjusted EBITDA, as calculated by ISS Global, represents, under Danish GAAP, Operating profit before other income and expenses and associates plus
Depreciation and amortisation or, under IFRS, Operating profit before other items plus Depreciation and amortisation. By using Operating profit before
other income and expenses and associates under Danish GAAP, or operating profit before other items under IFRS, as a starting point for the calculation of
adjusted EBITDA instead of Operating profit, ISS Global excludes from the calculation of adjusted EBITDA integration costs relating to acquisitions and
those items recorded under other income and expenses, net, in which ISS Global includes income and expenses that it believes do not form part of ISS
Global's normal ordinary operations, such as gains and losses arising from divestments, the winding up of operations, disposals of property, restructuring
and certain acquisition related costs. Some of the items that ISS Global records under the line item other income and expenses, net, are recurring and
some are non-recurring in nature.
3)
The difference in operating profit in 2004 under Danish GAAP and IFRS primarily relates to inclusion of integration costs under IFRS. The difference in
net profit under Danish GAAP and IFRS primarily relates to reversal of goodwill amortisation, net of goodwill impairment and write-down, amortisation of
customer contract portfolios and related customer relationships and inclusion of integration costs.
4)
Including minority interests.
5)
The presentation of interest paid has been changed and is now included in cash flow from financing activities instead of cash flow from operating
activities. Comparative figures have been restated accordingly.
6)
In 2006, cash conversion was adjusted for the gain of DKK 108 million on the sale of a call option on property. In 2005, cash conversion was adjusted for
the gain of DKK 237 million on the sale of ISS Health Care.
7)
Information not available for 2002
-
-
-
-
-
3