Annual Report 2006 ISS Global A/S

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Management Statement Copenhagen, 10 April 2007 The Board of Directors and the Managing Directors have today discussed and approved the Annual Report 2006 of ISS Global A/S. The Annual Report 2006 has been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU and additional Danish disclosure requirements for annual reports. In our opinion, the Annual Report gives a true and fair view of the Group’s and the Parent Company’s financial position at 31 December 2006 and of the results of the Group’s and the Parent Company’s operations and cash flows for the financial year 2006. Managing Directors Flemming Schandorff Group Chief Operating Officer Board of Directors Jørgen Lindegaard Chairman ANNUAL REPORT 2006 / Management Statement Bjørn Raasteen Group General Counsel Christian K. Jakobsen Group Treasurer Jeff Olsen Gravenhorst Flemming Schandorff 30
Independent Auditor’s Report To the shareholders of ISS Global A/S We have audited the Annual Report of ISS Global A/S for the financial year 1 January - 31 December 2006, which comprises the Company Report, Management Statement, Financial Review, Income Statement, Cash Flow Statement, Balance Sheet, Statement of Total Recognised Income and Expense and Changes in Equity, Accounting Policies and Notes to the Financial Statements. The Annual Report has been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted by the EU and additional Danish disclosure requirements. Management’s responsibility for the Annual Report Management is responsible for the preparation and fair presentation of the Annual Report in accordance with the International Financial Reporting Standards (IFRS) as adopted by the EU and additional Danish disclosure requirements for annual reports. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of an annual report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditors’ responsibility Our responsibility is to express an opinion on the Annual Report based on our audit. We conducted our audit in accordance with Danish and International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the Annual Report is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the annual report. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the Annual Report, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the entity’s preparation and fair presentation of the Annual Report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of ANNUAL REPORT 2006 / Independent Auditor’s Report expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the Annual Report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Our audit did not result in any qualification. Opinion In our opinion, the Annual Report gives a true and fair view of the Group’s and the Company’s assets, liabilities and financial position at 31 December 2006 and of the results of the Group’s and the Company’s operations and cash flows for the financial year then ended in accordance with the International Financial Reporting Standards (IFRS) as adopted by the EU and additional Danish disclosure requirements. KPMG C.Jespersen Statsautoriseret Revisionsinteressentskab Copenhagen, 10 April 2007 Finn L. Meyer Jesper Ridder Olsen State Authorised State Authorised Public Accountant Public Accountant 31
Page 1 and 2: ISS Global A/S Bredgade 30 DK - 126
Page 3 and 4: Key Figures Amounts in DKK millions
Page 5 and 6: growth. Furthermore, the effect of
Page 7 and 8: In 2006, ISS Global continued the p
Page 9 and 10: to costs related to a turnaround pl
Page 11 and 12: structure, ISS established an Opera
Page 13 and 14: Strategy ISS Global is a fully owne
Page 15 and 16: Geography ISS intends to increasing
Page 17 and 18: Openness and transparency In additi
Page 19 and 20: tors. The controllers perform follo
Page 21 and 22: Risk Factors ISS Global is a fully
Page 23 and 24: tual obligations could harm ISS’s
Page 25 and 26: If ISS fails to manage growth and i
Page 27 and 28: ISS may incur substantial liabiliti
Page 29: thus reduce or prevent dividend pay
Page 33 and 34: Organic growth ISS Global uses esti
Page 35 and 36: 2006 primarily related to redundanc
Page 37 and 38: Tempo as well as a number of smalle
Page 39 and 40: including non-interest-bearing debt
Page 41 and 42: CONSOLIDATED CASH FLOW STATEMENT 1
Page 43 and 44: CONSOLIDATED STATEMENT OF TOTAL REC
Page 45 and 46: NOTES TO THE CONSOLIDATED FINANCIAL
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NOTES TO THE CONSOLIDATED FINANCIAL
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CASH FLOW STATEMENT OF THE PARENT C
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STATEMENT OF TOTAL RECOGNISED INCOM
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NOTES TO THE FINANCIAL STATEMENTS O
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Definitions EBITDA = Operating prof
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