18:33 - ISS

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Norfolk International Ltd. In May, ISS acquired Norfolk in Israel, a catering company specialising in institutional and in-flight catering. The acquisition added approximately DKK 0.4 billion in annual revenue and approximately 1,700 employees. The acquisition doubled the annual revenue of ISS Israel and gave the Israeli operations a well-established business platform in the catering segment. Edelweiss Facility Management AG In July, ISS acquired Edelweiss, one of the largest Facility Services companies in Switzerland with nationwide coverage. The acquisition added, approximately DKK 0.7 billion in annual revenue. The acquisition supplied the Swiss business with an all-new platform within Integrated Facility Services. 14 · ANNUAL REPORT 2006 | COMPANY REPORT DEBEOS GmbH In November, ISS acquired DEBEOS, DaimlerChrysler Objektmanagement und Service GmbH, which was DaimlerChrysler’s internal Facility Services company offering a range of services within technical maintenance services, catering, internal logistics, security, staffing etc. The acquisition added annual revenue of approximately DKK 0.5 billion. The acquisition, which is expected to increase annual revenue in Germany by approximately 30%, provided the German organisation with entirely new capabilities and a strong platform within Integrated Facility Services as well as new contracts with large clients. A full list of acquisitions is presented in note 12 to the consolidated financial statements.
09:47 DENMARK, OFFICE SUPPORT IS CLEANING THE COFFEE AREA AND DELIVERING FRESH FRUIT TO THE EMPLOYEES [GMT 08:47] New geographies During the last few years, ISS has entered ten new geographies, including high growth countries such as Russia, Turkey, India and Mexico, while also significantly increasing investments in China. It is part of ISS’s Group strategy to establish operations in new geographies in order to pursue business opportunities in markets, which are currently characterised by relatively high growth rates, and which are expected to deliver strong economic growth and expanding markets in the future. Consequently, most of the new geographies with ISS operations are found in growth regions like Asia, Latin America and Eastern Europe where ISS intends to leverage on its competencies and experience from its European platform. This was also the case with the new geographies, in which ISS set up a presence in 2006. In May 2006, ISS established operations in Mexico through a combined take-over of two cleaning companies, San Rafael S.A. and Tap New S.A. The acquisitions added annual revenue of approximately DKK 0.3 billion and 9,500 employees to ISS. In July 2006, ISS expanded its Asian operations into the Philippines through the acquisition of the cleaning company Gayren Maintenance Services. In the beginning of 2007, ISS set up operations in Taiwan through two acquisitions. The acquisitions in the Philippines and Taiwan, respectively the 10th and 11th ISS countries in Asia, confirmed the intention to invest in the high growth Asian region. Finally, also in early 2007, operations were established greenfield in Bosnia and Herzegovina. COMPANY REPORT | ANNUAL REPORT 2006 · 15
Page 1 and 2: Annual Report 2006
Page 3 and 4: ISS at a Glance With more than 100,
Page 5 and 6: Annual Report 2006 ISS A/S
Page 7 and 8: Contents Key Figures Cover ISS at a
Page 9 and 10: Letter to Our Stakeholders In 2006,
Page 11 and 12: Company Report Business highlights
Page 13 and 14: Cash flow statement The cash flow f
Page 15 and 16: Cleaning Cleaning accounted for 57%
Page 17: Acquisitions in 2006 Company Countr
Page 21 and 22: Revenue 2006 Continental Europe FRA
Page 23 and 24: Revenue 2006 Overseas AUSTRALIA ASI
Page 25 and 26: of interest expenses and amendments
Page 27 and 28: Segmental Summary Country External
Page 29 and 30: Strategy In 2005, ISS announced the
Page 31 and 32: strategy, ISS expects to incur addi
Page 33 and 34: 11:54 DENMARK, CLEANING AT THE ROYA
Page 35 and 36: 12:38 ADDING THE FINAL TOUCH TO THE
Page 37 and 38: The tasks of the Board The Board fu
Page 39 and 40: ment terms as a result of the trans
Page 41 and 42: 14:03 THE NETHERLANDS, PROPERTY CLE
Page 43 and 44: Group Structure Board of Directors
Page 45 and 46: Operational Management Board of Dir
Page 47 and 48: INVESTORS Stakeholder Review As a g
Page 49 and 50: International contract with Akzo No
Page 51 and 52: Employee indicators 2006 2005 2004
Page 53 and 54: 16:04 MEXICO, CLEANING THE WINDOWS
Page 55 and 56: 16:39 SWITZERLAND, PROPERTY SERVICE
Page 57 and 58: ISS Code of Conduct The ISS Code of
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Page 61 and 62: Demand for ISS’s services is subj
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assets, to the extent permitted und
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facilities in Denmark and Norway an
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18:54 FRANCE, MONITORING THE AREA A
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19:10 AUSTRALIA, CLEANING UP THE ST
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incur additional debt; > pay divide
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Management Statement Copenhagen, 10
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Independent Auditor’s Report To t
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Financial Review The consolidated f
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assets other than goodwill, custome
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Net finance costs included non-cash
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finance costs resulting from the pl
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Cash flow from investing activities
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y dividing organic growth calculate
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Consolidated Financial Statements C
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Consolidated balance sheet At 31 De
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Consolidated statement of total rec
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Notes to the consolidated financial
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Parent Company Financial Statements
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Balance sheet of the parent company
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Notes to the financial statements o
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02:49 SPAIN, PREPARING THE OPERATIN
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Israel ISS-Ashmoret Ltd. 26 Hamasge
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Definitions Adjusted EBITDA = Opera
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ISS operates in 49 countries in Eur
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Financial Review 1997-2006 Amounts
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