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"s8_notesesefdkgaap__7__27": {
"value": "Estimates and judgements Note Significant accounting estimates1.2 Revenue \u2022 Impact from contract modifications and variable consideration2.5 Provisions \u2022 Onerous contracts \u2013 assessment of future profitability\u2022 Assumptions for onerous contracts, claims, disputes and legal proceedings3.2 Impairment tests \u2022 Key assumptions in impairment test of goodwill and other intangible assets3.4 Assets held for sale \u2022 Estimate of fair value less costs to sell5.2 Deferred tax \u2022 Assessment of future taxable profit\u2022 Uncertain tax positions \u2013 estimate of the amount required to settle the obligation7.1 Pensions and similar \u2022 Impact from increased inflation and discount rates on future salary and obligationspension increasesNote Significant judgement 1.2 Revenue \u2022 Gross or net presentation \u2013 assessment of whether ISS acts as the principal or the agent2.2 Other receivables\u2022 Transition and mobilisation costs \u2013 assessment of the criteria for capitalisation2.5 Provisions \u2022 Lawsuits and disputes - assessment of the likely outcome\u2022 Large contracts - assessment of risks and disputes2.6 Right-of-use assets \u2022 Lease term \u2013 determining whether extension options are reasonably certain to be exercised3.1 Intangible assets \u2022 Cloud-based arrangements \u2013 assessment of control and whether configuration/customisation costs result in an intangible assets\u2022 Software \u2013 capitalisation of configuration/customisation costs 7.2 Hyperinflation \u2022 Price index \u2013 assessment of which approach to apply in calculating the in T\u00fcrkiyeconversion factor when restating for hyperinflation, i.e. average year-to-date or average month-to-dateThe preparation of the Group\u2019s consolidated financial statements required management to make judgements, estimates and assumptions that affected the reported amounts of assets, liabilities, income and expenses, the accom-panying disclosures, including contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities in future periods.Estimates and assumptions are reviewed on an ongoing basis and have been prepared taking macroeconomic and geopolitic developments into consideration as well as climate-related matters, but still ensuring that one-off effects which are not expected to exist in the long term do not affect estimation and determina-tion of these key factors, including discount rates and expectations for the future. The Group's significant accounting estimates and judgements in applying the Group's material accounting policies are provided in the overviews to the left. Climate-related mattersIn preparing these consolidated financial statements, management assessed the impact of climate matters and related risks in relation to 1) the going concern assessment; and 2) in applying significant estimates and assumptions. The assessment included both transitional risks in the form of increased costs incurred as part of transitioning toward a more sustainable econ-omy, and physical risks due to specific weather events, such as storms or flooding.Generally, we do not believe that our profit-ability, cash flow generation or asset base is significantly exposed to climate risk, which is based on our general ability to pass on cost increases to customers as evidenced by our relative historic margin stability and on the fact that we are an asset-light operation with low operational investment needs. This conclusion is supported by our TCFD assessment.As a result, it is management's assessment, that climate-related matters 1) will not have a significant impact on the Group\u2019s going concern assessment, or in the long term (next five years); and 2) did not have a material impact on the Group\u2019s significant accounting estimates and assumptions applied in these consolidated financial statements.In relation to the latter, management specifi-cally considered the impact of climate-related matters in performing impairment tests; in estimating cash flow projections for the individual CGUs management considered both transitional risks, i.e. increased costs resulting from imposed carbon tax and other regulatory requirements, as well as physical risks, such as critical weather events. As our business model entails performing services at our customers sites, this mainly included an assessment of our customers' ability to continue their business in the short to medium term.Significant accounting estimates and judgementsOur customer contracts are based on three different commercial models requiring varying levels of man-agement estimates and judgement in determining the transaction price: 1) Fixed price contracts;2) Cost-plus contracts; and3) Cost-plus variations (typically capped)For fixed price contracts, revenue is recognised based on the transaction price stated in the contract, and thus require limited judgement from management.For cost-plus contracts, including variations e.g. with a cap, ISS\u2019s transaction price is determined based on costs incurred with the addition of an agreed markup/management fee. Determining the transaction price requires management to assess, which costs may be included in the calculation basis and if relevant, whether within the capped maximum.For key accounts and other large contracts, the transaction price may also include a variable consideration based on achievement of certain key performance indicators and gain share. Management estimates variable consideration based on the most likely amount to which it expects to be entitled on a contract-by-contract basis. Management makes a de-tailed assessment of the amount of revenue expected to be received and the probability of success in each case. Variable consideration is included in revenue as services are performed to the extent that it is highly probable that the amount will not be subject to significant reversal.Price adjustment mechanisms in our customer con-tracts vary in terms of content and extent. Judgement is required by management to determine the amount of revenue expected to be received as a result of inflationary pressure on costs of delivery. Contract modifications regularly occur, particularly for key account customers, in order to ensure that service solutions reflect their current needs. Such modifications are generally agreed with the customer in advance as per the contract in accordance with a specified change management procedure and accounted for going forward with no impact on recognised revenue up to the date of modification. Management assess how quickly ISS would be able to implement the scope changes of the service.Gross or net presentation of revenue Management uses judgement to determine whether the nature of ISS\u2019s promise is to provide the specified services (ISS is the principal), or to arrange for another party to provide the services (ISS is acting as an agent). This assessment is based on an evaluation of whether ISS controls the specified services before transfer to the customer. The Group has concluded that as a main rule ISS is the principal in its revenue arrangements, because it typically controls the services before transferring them to the customer, and consequently as a main rule recognises revenue on a gross basis.Significant accounting judgementsTransition and mobilisation costs (costs to fulfil a contract) comprise costs directly related to start-up of operations of certain large contracts, e.g. transfer of employees from previous suppliers, site due diligence, planning and developing ser-vice plans. The costs include internal direct costs and external costs e.g. to consultants.Capitalisation of transition and mobilisation costs involves management\u2019s judgement to assess if the criteria for capitalisation are fulfilled, including determining if the costs relate directly to the con-tract and are incurred in order for ISS to be able to fulfil the contract. In addition, management de-termines if the costs generate resources that will be used in satisfying the performance obligations and are expected to be recovered, i.e. reflected in the pricing of the contracts. Bid-related costs, including costs relating to sales work and securing contracts, are expensed as incurred.Significant accounting estimates and judgementsDue to our strategic focus on key accounts, our cus-tomer base contains a large number of larger complex contracts in terms of performance obligations towards our customers. Additionally, the size and complexity of such contracts often requires ISS to incur significant transition and mobilisation costs before service delivery commences to enable fulfilment of the performance obligations. Furthermore, complex restructuring projects may need to be initiated and recognised as a provision.Onerous contracts Management assesses whether contracts may be onerous by estimating the expected future profitability. This involves estimating total con-tract revenue and the unavoidable costs of meeting the performance obligations under the contract, including any transition and mobilisation costs incurred. In esti-mating the expected future profitability, management makes judgements, including in relation to termination and extension options. Certain contracts are large, complex and longer-term facility service partnerships. In estimating unavoidable costs in relation to such contracts, management makes assumptions around future realisation of costs taking estimated optimisations and efficiency gains from im-provement initiatives into consideration. While ISS has inherent risk in this respect, ISS is by nature also de-pendent on aligning interest with the customer within the framework of the agreement for the benefit of both parties. The outcome may vary significantly should the assumptions and judgements applied not be realised as expected by management and applied as basis for their assessment of whether a contract is onerous.Restructurings and other provisions Management makes judgements related to various other matters and obligations, primarily relating to planned/initiated restructurings, and complex customer and contract- related risks and disputes, including ongoing lawsuits. Management\u2019s assessment of the likely outcome of lawsuits, etc., is based on external legal assistance and established precedents.For large, complex contracts, the outcome may vary significantly should the judgements and assumptions applied by management in their assessment of the risks and disputes not be realised as expected.Significant accounting judgementsLease term Several of ISS\u2019s lease contracts (office buildings) have no contractual fixed lease term or contains an extension option. Management exercises judgement in determining whether these extension options are reasonably certain to be exercised. Management considers all relevant facts and circumstances that create an economic incentive for the Group to exercise the extension option. The lease term for contracts without an end date is normally set to ten years for head office and accessory buildings, whereas all other leases with no definite end date are set to five years.Significant accounting judgementsCloud-based arrangement At the commencement date, management assesses whether the Group ac-quires an intangible asset, a leased asset or receives a service over the term of the contract. If the Group receives a right to access the cloud provider's appli-cation without further rights or control it is neither a lease nor an intangible asset. However, the Group may acquire an intangible asset if the Group has the contractual right to take possession of the software during the contract period without significant penal-ty and it is feasible for the Group to run the software on its own hardware or with another cloud provider.In SaaS (Software as a Service) arrangements, where the provider controls the software applica-tion, the assessment of whether configuration or customisation of the software results in an intan-gible asset for the Group depends on the output of the configuration or customisation activities performed. Part of the activities undertaken may entail the de-velopment of software code that enhances or mod-ifies, or creates additional capability to the existing on-premise software to enable it to connect with the cloud-based software applications. If activities are performed on the Group\u2019s infrastructure and applications, they likely represent assets that the Group controls because they enhance, improve or customise existing software assets.Significant accountingestimatesIn performing the impairment test, management assesses whether the CGU to which the goodwill relates will be able to generate positive net cash flows sufficient to support the value of intangibles and other non-current assets. The assessment is based on estimates of expected future cash flows (value in use) for the individual GCU, which by nature are uncertain. Estimates are based on financial forecasts for the following year as approved by management, and estimated discount rates, growth and market developments. Assumptions applied in the short to medium term (forecasting period of five years) as well as terminal growth rates and margins applied are described in 3.2.4, Determining value in use.The outcome of the impairment test may vary significantly should the assumptions, estimates and judgements not be realised as expected and applied as basis for management\u2019s conclusion of whether impairment of a CGU has occurred.Significant accounting estimatesThe Group classifies non-current assets and dispos-al groups as held for sale when management as-sesses that their carrying amounts will be recovered through a sale rather than continuing use within one year from the classification. Management\u2019s assessment is based on an evaluation of whether the sale is highly probable, and the asset or disposal group is available for immediate sale in its current condition, including whether actions required to complete the sale indicate that it is unlikely that significant changes to the sale will be made or that the decision to sell will be withdrawn. Management is committed to the plan to sell the asset.If a sale has not been concluded within one year, the period is extended if management assesses that the above criteria continue to be fulfilled.On classification, management estimates the fair value (the sales price less expected costs to sell). Depending on the nature of the non-current assets and the disposal group\u2019s activity, assets and liabilities, the estimated fair value may be associated with uncertainty and possibly adjusted subsequently. Measurement of the fair value of disposal groups is categorised as Level 3 in the fair value hierarchy as measurement is not based on observable market data.Management considers intangible assets relating to the disposal groups, taking into consideration how to separate the net assets (including intan-gible assets) relating to the disposal group from the Group\u2019s assets in the continuing business. Impairment of these intangibles, both on initial classification as held for sale and subsequently, is considered. The estimation uncertainty relating to impairment of intangibles is described in 3.2, Impairment tests.Significant accounting estimates and judgementsDeferred tax assets relating to tax losses carried forward are recognised, when management assesses that these can be offset against positive taxable income in the foreseeable future. The assessment is made at the reporting date taking into account the impact from limitation in interest deductibility and local tax restrictions in utilisation of tax losses. Future taxable income is based on financial forecasts approved by man-agement and expectations for operational devel-opment, mainly in terms of organic growth and operating margin, i.e. the cash flow projections made for the purpose of the Group\u2019s impairment tests, see 3.2, Impairment tests. These represent management\u2019s best estimates, but are by nature associated with significant uncertainty.Uncertain tax positions As part of operating a global business, disputes with tax authorities around the world may occur. Management periodically evaluates positions taken in tax returns with respect to situations where appli-cable tax regulation is subject to interpretation and considers whether it is probable that a tax authority will accept an uncertain tax treatment. The possible outcome of uncertain tax positions is measured based on management\u2019s best estimate of the amount required to settle the obligation and recognised in deferred tax or income tax depending on the tax position.Significant accounting estimatesActuarial calculations and valuations are performed annually for all major plans. The present value of defined benefit obligations is determined based on assumptions about the future development in vari-ables such as salary levels, interest rates, inflation and mortality. Applied assumptions vary from country to country due to local conditions. All assumptions are assessed at the reporting date.The discount rates used for calculating the present value of expected future cash flows are based on the market yield of high-quality corporate bonds or government bonds with a maturity approximating to the terms of the defined benefit obligations.When the Group participates in multi-employer pen-sion plans being accounted for as defined contribu-tion plans due to unavailability of information, there is a risk that the plans are not sufficiently funded. However, information on surplus or deficit in the schemes is not available.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAssetsAndLiabilitiesWithSignificantRiskOfMaterialAdjustmentExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__26": {
"value": "Estimates and judgements Note Significant accounting estimates1.2 Revenue \u2022 Impact from contract modifications and variable consideration2.5 Provisions \u2022 Onerous contracts \u2013 assessment of future profitability\u2022 Assumptions for onerous contracts, claims, disputes and legal proceedings3.2 Impairment tests \u2022 Key assumptions in impairment test of goodwill and other intangible assets3.4 Assets held for sale \u2022 Estimate of fair value less costs to sell5.2 Deferred tax \u2022 Assessment of future taxable profit\u2022 Uncertain tax positions \u2013 estimate of the amount required to settle the obligation7.1 Pensions and similar \u2022 Impact from increased inflation and discount rates on future salary and obligationspension increasesNote Significant judgement 1.2 Revenue \u2022 Gross or net presentation \u2013 assessment of whether ISS acts as the principal or the agent2.2 Other receivables\u2022 Transition and mobilisation costs \u2013 assessment of the criteria for capitalisation2.5 Provisions \u2022 Lawsuits and disputes - assessment of the likely outcome\u2022 Large contracts - assessment of risks and disputes2.6 Right-of-use assets \u2022 Lease term \u2013 determining whether extension options are reasonably certain to be exercised3.1 Intangible assets \u2022 Cloud-based arrangements \u2013 assessment of control and whether configuration/customisation costs result in an intangible assets\u2022 Software \u2013 capitalisation of configuration/customisation costs 7.2 Hyperinflation \u2022 Price index \u2013 assessment of which approach to apply in calculating the in T\u00fcrkiyeconversion factor when restating for hyperinflation, i.e. average year-to-date or average month-to-dateThe preparation of the Group\u2019s consolidated financial statements required management to make judgements, estimates and assumptions that affected the reported amounts of assets, liabilities, income and expenses, the accom-panying disclosures, including contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities in future periods.Estimates and assumptions are reviewed on an ongoing basis and have been prepared taking macroeconomic and geopolitic developments into consideration as well as climate-related matters, but still ensuring that one-off effects which are not expected to exist in the long term do not affect estimation and determina-tion of these key factors, including discount rates and expectations for the future. The Group's significant accounting estimates and judgements in applying the Group's material accounting policies are provided in the overviews to the left. Climate-related mattersIn preparing these consolidated financial statements, management assessed the impact of climate matters and related risks in relation to 1) the going concern assessment; and 2) in applying significant estimates and assumptions. The assessment included both transitional risks in the form of increased costs incurred as part of transitioning toward a more sustainable econ-omy, and physical risks due to specific weather events, such as storms or flooding.Generally, we do not believe that our profit-ability, cash flow generation or asset base is significantly exposed to climate risk, which is based on our general ability to pass on cost increases to customers as evidenced by our relative historic margin stability and on the fact that we are an asset-light operation with low operational investment needs. This conclusion is supported by our TCFD assessment.As a result, it is management's assessment, that climate-related matters 1) will not have a significant impact on the Group\u2019s going concern assessment, or in the long term (next five years); and 2) did not have a material impact on the Group\u2019s significant accounting estimates and assumptions applied in these consolidated financial statements.In relation to the latter, management specifi-cally considered the impact of climate-related matters in performing impairment tests; in estimating cash flow projections for the individual CGUs management considered both transitional risks, i.e. increased costs resulting from imposed carbon tax and other regulatory requirements, as well as physical risks, such as critical weather events. As our business model entails performing services at our customers sites, this mainly included an assessment of our customers' ability to continue their business in the short to medium term.Significant accounting estimates and judgementsOur customer contracts are based on three different commercial models requiring varying levels of man-agement estimates and judgement in determining the transaction price: 1) Fixed price contracts;2) Cost-plus contracts; and3) Cost-plus variations (typically capped)For fixed price contracts, revenue is recognised based on the transaction price stated in the contract, and thus require limited judgement from management.For cost-plus contracts, including variations e.g. with a cap, ISS\u2019s transaction price is determined based on costs incurred with the addition of an agreed markup/management fee. Determining the transaction price requires management to assess, which costs may be included in the calculation basis and if relevant, whether within the capped maximum.For key accounts and other large contracts, the transaction price may also include a variable consideration based on achievement of certain key performance indicators and gain share. Management estimates variable consideration based on the most likely amount to which it expects to be entitled on a contract-by-contract basis. Management makes a de-tailed assessment of the amount of revenue expected to be received and the probability of success in each case. Variable consideration is included in revenue as services are performed to the extent that it is highly probable that the amount will not be subject to significant reversal.Price adjustment mechanisms in our customer con-tracts vary in terms of content and extent. Judgement is required by management to determine the amount of revenue expected to be received as a result of inflationary pressure on costs of delivery. Contract modifications regularly occur, particularly for key account customers, in order to ensure that service solutions reflect their current needs. Such modifications are generally agreed with the customer in advance as per the contract in accordance with a specified change management procedure and accounted for going forward with no impact on recognised revenue up to the date of modification. Management assess how quickly ISS would be able to implement the scope changes of the service.Gross or net presentation of revenue Management uses judgement to determine whether the nature of ISS\u2019s promise is to provide the specified services (ISS is the principal), or to arrange for another party to provide the services (ISS is acting as an agent). This assessment is based on an evaluation of whether ISS controls the specified services before transfer to the customer. The Group has concluded that as a main rule ISS is the principal in its revenue arrangements, because it typically controls the services before transferring them to the customer, and consequently as a main rule recognises revenue on a gross basis.Significant accounting judgementsTransition and mobilisation costs (costs to fulfil a contract) comprise costs directly related to start-up of operations of certain large contracts, e.g. transfer of employees from previous suppliers, site due diligence, planning and developing ser-vice plans. The costs include internal direct costs and external costs e.g. to consultants.Capitalisation of transition and mobilisation costs involves management\u2019s judgement to assess if the criteria for capitalisation are fulfilled, including determining if the costs relate directly to the con-tract and are incurred in order for ISS to be able to fulfil the contract. In addition, management de-termines if the costs generate resources that will be used in satisfying the performance obligations and are expected to be recovered, i.e. reflected in the pricing of the contracts. Bid-related costs, including costs relating to sales work and securing contracts, are expensed as incurred.Significant accounting estimates and judgementsDue to our strategic focus on key accounts, our cus-tomer base contains a large number of larger complex contracts in terms of performance obligations towards our customers. Additionally, the size and complexity of such contracts often requires ISS to incur significant transition and mobilisation costs before service delivery commences to enable fulfilment of the performance obligations. Furthermore, complex restructuring projects may need to be initiated and recognised as a provision.Onerous contracts Management assesses whether contracts may be onerous by estimating the expected future profitability. This involves estimating total con-tract revenue and the unavoidable costs of meeting the performance obligations under the contract, including any transition and mobilisation costs incurred. In esti-mating the expected future profitability, management makes judgements, including in relation to termination and extension options. Certain contracts are large, complex and longer-term facility service partnerships. In estimating unavoidable costs in relation to such contracts, management makes assumptions around future realisation of costs taking estimated optimisations and efficiency gains from im-provement initiatives into consideration. While ISS has inherent risk in this respect, ISS is by nature also de-pendent on aligning interest with the customer within the framework of the agreement for the benefit of both parties. The outcome may vary significantly should the assumptions and judgements applied not be realised as expected by management and applied as basis for their assessment of whether a contract is onerous.Restructurings and other provisions Management makes judgements related to various other matters and obligations, primarily relating to planned/initiated restructurings, and complex customer and contract- related risks and disputes, including ongoing lawsuits. Management\u2019s assessment of the likely outcome of lawsuits, etc., is based on external legal assistance and established precedents.For large, complex contracts, the outcome may vary significantly should the judgements and assumptions applied by management in their assessment of the risks and disputes not be realised as expected.Significant accounting judgementsLease term Several of ISS\u2019s lease contracts (office buildings) have no contractual fixed lease term or contains an extension option. Management exercises judgement in determining whether these extension options are reasonably certain to be exercised. Management considers all relevant facts and circumstances that create an economic incentive for the Group to exercise the extension option. The lease term for contracts without an end date is normally set to ten years for head office and accessory buildings, whereas all other leases with no definite end date are set to five years.Significant accounting judgementsCloud-based arrangement At the commencement date, management assesses whether the Group ac-quires an intangible asset, a leased asset or receives a service over the term of the contract. If the Group receives a right to access the cloud provider's appli-cation without further rights or control it is neither a lease nor an intangible asset. However, the Group may acquire an intangible asset if the Group has the contractual right to take possession of the software during the contract period without significant penal-ty and it is feasible for the Group to run the software on its own hardware or with another cloud provider.In SaaS (Software as a Service) arrangements, where the provider controls the software applica-tion, the assessment of whether configuration or customisation of the software results in an intan-gible asset for the Group depends on the output of the configuration or customisation activities performed. Part of the activities undertaken may entail the de-velopment of software code that enhances or mod-ifies, or creates additional capability to the existing on-premise software to enable it to connect with the cloud-based software applications. If activities are performed on the Group\u2019s infrastructure and applications, they likely represent assets that the Group controls because they enhance, improve or customise existing software assets.Significant accountingestimatesIn performing the impairment test, management assesses whether the CGU to which the goodwill relates will be able to generate positive net cash flows sufficient to support the value of intangibles and other non-current assets. The assessment is based on estimates of expected future cash flows (value in use) for the individual GCU, which by nature are uncertain. Estimates are based on financial forecasts for the following year as approved by management, and estimated discount rates, growth and market developments. Assumptions applied in the short to medium term (forecasting period of five years) as well as terminal growth rates and margins applied are described in 3.2.4, Determining value in use.The outcome of the impairment test may vary significantly should the assumptions, estimates and judgements not be realised as expected and applied as basis for management\u2019s conclusion of whether impairment of a CGU has occurred.Significant accounting estimatesThe Group classifies non-current assets and dispos-al groups as held for sale when management as-sesses that their carrying amounts will be recovered through a sale rather than continuing use within one year from the classification. Management\u2019s assessment is based on an evaluation of whether the sale is highly probable, and the asset or disposal group is available for immediate sale in its current condition, including whether actions required to complete the sale indicate that it is unlikely that significant changes to the sale will be made or that the decision to sell will be withdrawn. Management is committed to the plan to sell the asset.If a sale has not been concluded within one year, the period is extended if management assesses that the above criteria continue to be fulfilled.On classification, management estimates the fair value (the sales price less expected costs to sell). Depending on the nature of the non-current assets and the disposal group\u2019s activity, assets and liabilities, the estimated fair value may be associated with uncertainty and possibly adjusted subsequently. Measurement of the fair value of disposal groups is categorised as Level 3 in the fair value hierarchy as measurement is not based on observable market data.Management considers intangible assets relating to the disposal groups, taking into consideration how to separate the net assets (including intan-gible assets) relating to the disposal group from the Group\u2019s assets in the continuing business. Impairment of these intangibles, both on initial classification as held for sale and subsequently, is considered. The estimation uncertainty relating to impairment of intangibles is described in 3.2, Impairment tests.Significant accounting estimates and judgementsDeferred tax assets relating to tax losses carried forward are recognised, when management assesses that these can be offset against positive taxable income in the foreseeable future. The assessment is made at the reporting date taking into account the impact from limitation in interest deductibility and local tax restrictions in utilisation of tax losses. Future taxable income is based on financial forecasts approved by man-agement and expectations for operational devel-opment, mainly in terms of organic growth and operating margin, i.e. the cash flow projections made for the purpose of the Group\u2019s impairment tests, see 3.2, Impairment tests. These represent management\u2019s best estimates, but are by nature associated with significant uncertainty.Uncertain tax positions As part of operating a global business, disputes with tax authorities around the world may occur. Management periodically evaluates positions taken in tax returns with respect to situations where appli-cable tax regulation is subject to interpretation and considers whether it is probable that a tax authority will accept an uncertain tax treatment. The possible outcome of uncertain tax positions is measured based on management\u2019s best estimate of the amount required to settle the obligation and recognised in deferred tax or income tax depending on the tax position.Significant accounting estimatesActuarial calculations and valuations are performed annually for all major plans. The present value of defined benefit obligations is determined based on assumptions about the future development in vari-ables such as salary levels, interest rates, inflation and mortality. Applied assumptions vary from country to country due to local conditions. All assumptions are assessed at the reporting date.The discount rates used for calculating the present value of expected future cash flows are based on the market yield of high-quality corporate bonds or government bonds with a maturity approximating to the terms of the defined benefit obligations.When the Group participates in multi-employer pen-sion plans being accounted for as defined contribu-tion plans due to unavailability of information, there is a risk that the plans are not sufficiently funded. However, information on surplus or deficit in the schemes is not available.",
"dimensions": {
"concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__25": {
"value": "Estimates and judgements Note Significant accounting estimates1.2 Revenue \u2022 Impact from contract modifications and variable consideration2.5 Provisions \u2022 Onerous contracts \u2013 assessment of future profitability\u2022 Assumptions for onerous contracts, claims, disputes and legal proceedings3.2 Impairment tests \u2022 Key assumptions in impairment test of goodwill and other intangible assets3.4 Assets held for sale \u2022 Estimate of fair value less costs to sell5.2 Deferred tax \u2022 Assessment of future taxable profit\u2022 Uncertain tax positions \u2013 estimate of the amount required to settle the obligation7.1 Pensions and similar \u2022 Impact from increased inflation and discount rates on future salary and obligationspension increasesNote Significant judgement 1.2 Revenue \u2022 Gross or net presentation \u2013 assessment of whether ISS acts as the principal or the agent2.2 Other receivables\u2022 Transition and mobilisation costs \u2013 assessment of the criteria for capitalisation2.5 Provisions \u2022 Lawsuits and disputes - assessment of the likely outcome\u2022 Large contracts - assessment of risks and disputes2.6 Right-of-use assets \u2022 Lease term \u2013 determining whether extension options are reasonably certain to be exercised3.1 Intangible assets \u2022 Cloud-based arrangements \u2013 assessment of control and whether configuration/customisation costs result in an intangible assets\u2022 Software \u2013 capitalisation of configuration/customisation costs 7.2 Hyperinflation \u2022 Price index \u2013 assessment of which approach to apply in calculating the in T\u00fcrkiyeconversion factor when restating for hyperinflation, i.e. average year-to-date or average month-to-dateThe preparation of the Group\u2019s consolidated financial statements required management to make judgements, estimates and assumptions that affected the reported amounts of assets, liabilities, income and expenses, the accom-panying disclosures, including contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities in future periods.Estimates and assumptions are reviewed on an ongoing basis and have been prepared taking macroeconomic and geopolitic developments into consideration as well as climate-related matters, but still ensuring that one-off effects which are not expected to exist in the long term do not affect estimation and determina-tion of these key factors, including discount rates and expectations for the future. The Group's significant accounting estimates and judgements in applying the Group's material accounting policies are provided in the overviews to the left. Climate-related mattersIn preparing these consolidated financial statements, management assessed the impact of climate matters and related risks in relation to 1) the going concern assessment; and 2) in applying significant estimates and assumptions. The assessment included both transitional risks in the form of increased costs incurred as part of transitioning toward a more sustainable econ-omy, and physical risks due to specific weather events, such as storms or flooding.Generally, we do not believe that our profit-ability, cash flow generation or asset base is significantly exposed to climate risk, which is based on our general ability to pass on cost increases to customers as evidenced by our relative historic margin stability and on the fact that we are an asset-light operation with low operational investment needs. This conclusion is supported by our TCFD assessment.As a result, it is management's assessment, that climate-related matters 1) will not have a significant impact on the Group\u2019s going concern assessment, or in the long term (next five years); and 2) did not have a material impact on the Group\u2019s significant accounting estimates and assumptions applied in these consolidated financial statements.In relation to the latter, management specifi-cally considered the impact of climate-related matters in performing impairment tests; in estimating cash flow projections for the individual CGUs management considered both transitional risks, i.e. increased costs resulting from imposed carbon tax and other regulatory requirements, as well as physical risks, such as critical weather events. As our business model entails performing services at our customers sites, this mainly included an assessment of our customers' ability to continue their business in the short to medium term.Significant accounting estimates and judgementsOur customer contracts are based on three different commercial models requiring varying levels of man-agement estimates and judgement in determining the transaction price: 1) Fixed price contracts;2) Cost-plus contracts; and3) Cost-plus variations (typically capped)For fixed price contracts, revenue is recognised based on the transaction price stated in the contract, and thus require limited judgement from management.For cost-plus contracts, including variations e.g. with a cap, ISS\u2019s transaction price is determined based on costs incurred with the addition of an agreed markup/management fee. Determining the transaction price requires management to assess, which costs may be included in the calculation basis and if relevant, whether within the capped maximum.For key accounts and other large contracts, the transaction price may also include a variable consideration based on achievement of certain key performance indicators and gain share. Management estimates variable consideration based on the most likely amount to which it expects to be entitled on a contract-by-contract basis. Management makes a de-tailed assessment of the amount of revenue expected to be received and the probability of success in each case. Variable consideration is included in revenue as services are performed to the extent that it is highly probable that the amount will not be subject to significant reversal.Price adjustment mechanisms in our customer con-tracts vary in terms of content and extent. Judgement is required by management to determine the amount of revenue expected to be received as a result of inflationary pressure on costs of delivery. Contract modifications regularly occur, particularly for key account customers, in order to ensure that service solutions reflect their current needs. Such modifications are generally agreed with the customer in advance as per the contract in accordance with a specified change management procedure and accounted for going forward with no impact on recognised revenue up to the date of modification. Management assess how quickly ISS would be able to implement the scope changes of the service.Gross or net presentation of revenue Management uses judgement to determine whether the nature of ISS\u2019s promise is to provide the specified services (ISS is the principal), or to arrange for another party to provide the services (ISS is acting as an agent). This assessment is based on an evaluation of whether ISS controls the specified services before transfer to the customer. The Group has concluded that as a main rule ISS is the principal in its revenue arrangements, because it typically controls the services before transferring them to the customer, and consequently as a main rule recognises revenue on a gross basis.Significant accounting judgementsTransition and mobilisation costs (costs to fulfil a contract) comprise costs directly related to start-up of operations of certain large contracts, e.g. transfer of employees from previous suppliers, site due diligence, planning and developing ser-vice plans. The costs include internal direct costs and external costs e.g. to consultants.Capitalisation of transition and mobilisation costs involves management\u2019s judgement to assess if the criteria for capitalisation are fulfilled, including determining if the costs relate directly to the con-tract and are incurred in order for ISS to be able to fulfil the contract. In addition, management de-termines if the costs generate resources that will be used in satisfying the performance obligations and are expected to be recovered, i.e. reflected in the pricing of the contracts. Bid-related costs, including costs relating to sales work and securing contracts, are expensed as incurred.Significant accounting estimates and judgementsDue to our strategic focus on key accounts, our cus-tomer base contains a large number of larger complex contracts in terms of performance obligations towards our customers. Additionally, the size and complexity of such contracts often requires ISS to incur significant transition and mobilisation costs before service delivery commences to enable fulfilment of the performance obligations. Furthermore, complex restructuring projects may need to be initiated and recognised as a provision.Onerous contracts Management assesses whether contracts may be onerous by estimating the expected future profitability. This involves estimating total con-tract revenue and the unavoidable costs of meeting the performance obligations under the contract, including any transition and mobilisation costs incurred. In esti-mating the expected future profitability, management makes judgements, including in relation to termination and extension options. Certain contracts are large, complex and longer-term facility service partnerships. In estimating unavoidable costs in relation to such contracts, management makes assumptions around future realisation of costs taking estimated optimisations and efficiency gains from im-provement initiatives into consideration. While ISS has inherent risk in this respect, ISS is by nature also de-pendent on aligning interest with the customer within the framework of the agreement for the benefit of both parties. The outcome may vary significantly should the assumptions and judgements applied not be realised as expected by management and applied as basis for their assessment of whether a contract is onerous.Restructurings and other provisions Management makes judgements related to various other matters and obligations, primarily relating to planned/initiated restructurings, and complex customer and contract- related risks and disputes, including ongoing lawsuits. Management\u2019s assessment of the likely outcome of lawsuits, etc., is based on external legal assistance and established precedents.For large, complex contracts, the outcome may vary significantly should the judgements and assumptions applied by management in their assessment of the risks and disputes not be realised as expected.Significant accounting judgementsLease term Several of ISS\u2019s lease contracts (office buildings) have no contractual fixed lease term or contains an extension option. Management exercises judgement in determining whether these extension options are reasonably certain to be exercised. Management considers all relevant facts and circumstances that create an economic incentive for the Group to exercise the extension option. The lease term for contracts without an end date is normally set to ten years for head office and accessory buildings, whereas all other leases with no definite end date are set to five years.Significant accounting judgementsCloud-based arrangement At the commencement date, management assesses whether the Group ac-quires an intangible asset, a leased asset or receives a service over the term of the contract. If the Group receives a right to access the cloud provider's appli-cation without further rights or control it is neither a lease nor an intangible asset. However, the Group may acquire an intangible asset if the Group has the contractual right to take possession of the software during the contract period without significant penal-ty and it is feasible for the Group to run the software on its own hardware or with another cloud provider.In SaaS (Software as a Service) arrangements, where the provider controls the software applica-tion, the assessment of whether configuration or customisation of the software results in an intan-gible asset for the Group depends on the output of the configuration or customisation activities performed. Part of the activities undertaken may entail the de-velopment of software code that enhances or mod-ifies, or creates additional capability to the existing on-premise software to enable it to connect with the cloud-based software applications. If activities are performed on the Group\u2019s infrastructure and applications, they likely represent assets that the Group controls because they enhance, improve or customise existing software assets.Significant accountingestimatesIn performing the impairment test, management assesses whether the CGU to which the goodwill relates will be able to generate positive net cash flows sufficient to support the value of intangibles and other non-current assets. The assessment is based on estimates of expected future cash flows (value in use) for the individual GCU, which by nature are uncertain. Estimates are based on financial forecasts for the following year as approved by management, and estimated discount rates, growth and market developments. Assumptions applied in the short to medium term (forecasting period of five years) as well as terminal growth rates and margins applied are described in 3.2.4, Determining value in use.The outcome of the impairment test may vary significantly should the assumptions, estimates and judgements not be realised as expected and applied as basis for management\u2019s conclusion of whether impairment of a CGU has occurred.Significant accounting estimatesThe Group classifies non-current assets and dispos-al groups as held for sale when management as-sesses that their carrying amounts will be recovered through a sale rather than continuing use within one year from the classification. Management\u2019s assessment is based on an evaluation of whether the sale is highly probable, and the asset or disposal group is available for immediate sale in its current condition, including whether actions required to complete the sale indicate that it is unlikely that significant changes to the sale will be made or that the decision to sell will be withdrawn. Management is committed to the plan to sell the asset.If a sale has not been concluded within one year, the period is extended if management assesses that the above criteria continue to be fulfilled.On classification, management estimates the fair value (the sales price less expected costs to sell). Depending on the nature of the non-current assets and the disposal group\u2019s activity, assets and liabilities, the estimated fair value may be associated with uncertainty and possibly adjusted subsequently. Measurement of the fair value of disposal groups is categorised as Level 3 in the fair value hierarchy as measurement is not based on observable market data.Management considers intangible assets relating to the disposal groups, taking into consideration how to separate the net assets (including intan-gible assets) relating to the disposal group from the Group\u2019s assets in the continuing business. Impairment of these intangibles, both on initial classification as held for sale and subsequently, is considered. The estimation uncertainty relating to impairment of intangibles is described in 3.2, Impairment tests.Significant accounting estimates and judgementsDeferred tax assets relating to tax losses carried forward are recognised, when management assesses that these can be offset against positive taxable income in the foreseeable future. The assessment is made at the reporting date taking into account the impact from limitation in interest deductibility and local tax restrictions in utilisation of tax losses. Future taxable income is based on financial forecasts approved by man-agement and expectations for operational devel-opment, mainly in terms of organic growth and operating margin, i.e. the cash flow projections made for the purpose of the Group\u2019s impairment tests, see 3.2, Impairment tests. These represent management\u2019s best estimates, but are by nature associated with significant uncertainty.Uncertain tax positions As part of operating a global business, disputes with tax authorities around the world may occur. Management periodically evaluates positions taken in tax returns with respect to situations where appli-cable tax regulation is subject to interpretation and considers whether it is probable that a tax authority will accept an uncertain tax treatment. The possible outcome of uncertain tax positions is measured based on management\u2019s best estimate of the amount required to settle the obligation and recognised in deferred tax or income tax depending on the tax position.Significant accounting estimatesActuarial calculations and valuations are performed annually for all major plans. The present value of defined benefit obligations is determined based on assumptions about the future development in vari-ables such as salary levels, interest rates, inflation and mortality. Applied assumptions vary from country to country due to local conditions. All assumptions are assessed at the reporting date.The discount rates used for calculating the present value of expected future cash flows are based on the market yield of high-quality corporate bonds or government bonds with a maturity approximating to the terms of the defined benefit obligations.When the Group participates in multi-employer pen-sion plans being accounted for as defined contribu-tion plans due to unavailability of information, there is a risk that the plans are not sufficiently funded. However, information on surplus or deficit in the schemes is not available.",
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"s8_notesesefdkgaap__7__29": {
"value": "1.1 Segments 1.1.1 Operating segments ISS is a leading, global provider of workplace and facility service solutions operating in 30+ countries. Operations are generally managed based on a geographical structure in which countries are grouped into regions. The regions have been identified based on a key principle of grouping countries that share market conditions and cultures. Countrieswhere we do not have a full country-basedsupport structure (partnership countries) are combined in a separate segment \u201cOther countries\u201d.An overview of the grouping of countries into regions is presented in 8.4, Group companies.France classified as held for sale and discontinued operationsOn 9 August 2023, ISS announced its inten-tion to divest the French business, while still retaining global key account customers in the country. As a result, ISS France (excluding global key accounts) was classified as held for sale and discontinued operations and excluded from the segment overview to the right (previously included in Central & Southern Europe). Revenue and operating profit related to the retained global key accounts was presented in Other countries. Comparative figures have been restated accordingly.Unallo-Central &OtherTotal cated/Northern Southern Asia & Ameri-coun-seg-elimi-Total (DKKm)EuropeEuropePacificcastriesmentsnationGroup2023 Revenue, excl. IAS 29 29,324 24,807 14,229 9,605 783 78,748 (65) 78,683 Hyperinflation restatement - (2) - - - (2) - (2)Revenue 29,324 24,805 14,229 9,605 783 78,746 (65) 78,681 Depreciation and amortisation (543) (493) (132) (121) (4)(1,293) (124) (1,417)Operating prof it before other items, excl. IAS 29 1,572 1,487 875 489 48 4,471 (1,123) 3,348 Hyperinflation restatement - (48) - - - (48) - (48)Operating profit before other items 1,572 1,439 875 489 48 4,423 (1,123) 3,300 Operating margin 5.4% 5.8% 6.1% 5.1% 6.1% 5.6% - 4.2%Operating margin, excl. IAS 29 5.4% 6.0% 6.1% 5.1% 6.1% 5.7% - 4.3%Other income and expenses, net - (43) 13 (4) - (34) (59)(93)Amortisation/impairment of customer contracts (13) (37) (2) (17) - (69) - (69)Operating profit 1,559 1,359 886 468 48 4,320 (1,182) 3,138 2022Revenue, excl. IAS 29 28,694 21,646 14,012 8,585 795 73,732 (48) 73,684 Hyperinflation restatement - 154 - - - 154 - 154 Revenue 28,694 21,800 14,012 8,585 795 73,886 (48) 73,838 Depreciation and amortisation (557) (473) (147) (97) (4) (1,278) (137) (1,415)Operating prof it before other items, excl. IAS 29 1,519 1,146 882 445 60 4,052 (1,105) 2,947 Hyperinflation restatement - (29) - - - (29) - (29)Operating profit before other items 1,519 1,117 882 445 60 4,023 (1,105) 2,918 Operating margin 5.3% 5.1% 6.3% 5.2% 7.6% 5.4% - 4.0%Operating margin, excl. IAS 29 5.3% 5.3% 6.3% 5.2% 7.6% 5.5% - 4.0%Other income and expenses, net 45 (15) 156 (124) - 62 (7) 55 Amortisation/impairment of customer contracts (16) (27) (4) (22) - (69) - (69)Operating profit 1,548 1,075 1,034 299 60 4,016 (1,112) 2,904 RevenueRevenue\u2013 by region1)Operating profit profit\u2013 by region4.3DKKbn36% Northern31% Central & Southern21% Asia & Pacific11% Americas1% Other78.7DKKbn37% Northern32% Central & Southern18% Asia & Pacific12% Americas1% Other1.1.2 Geographical distribution1)Revenue Non-current assets (DKKm) 2023 2022 2023 2022 UK & Ireland 10,611 10,396 3,117 3,052 US & Canada 7,004 6,387 2,368 2,492 Switzerland 6,383 5,729 2,206 2,134 Germany 5,864 5,556 974 997 Australia & New Zealand 5,102 4,868 1,343 1,396 T\u00fcrkiye 4,833 3,341 1,525 1,517 Spain 4,460 4,130 1,576 1,196 Denmark (country of domicile) 2,994 3,169 1,730 1,737 2)Other countries 31,430 30,262 11,754 13,231 Total 78,681 73,838 26,593 27,752 1)Excluding deferred tax assets.2)Including unallocated items and eliminations.Group revenue per country is disclosed on p. 118. RevenueRevenue\u2013 by country78.7DKKbn13%UK & Ireland9%US & Canada8%Switzerland8%Germany6%Australia & NZ6%T\u00fcrkiye6%Spain4%Denmark 40%Other countriesNon-current assetsNon-current assets\u2013 by country26.6DKKbn12%UK & Ireland9%US & Canada8%Switzerland4%Germany5%Australia & NZ6%T\u00fcrkiye6%Spain7%Denmark43%Other countriesAccounting policyOur segments are managed primarily based on business performance measured by Operating profit. Segment revenue and costs comprise items that are directly attributable to the individual segments. Unallocated items mainly consist of revenue and cost relating to the Group\u2019s corporate functions. Decisions on financing (financial income and expenses) as well as tax planning (income tax) are managed at Group level and are therefore not managed and allocated to segments.Segment revenue is presented including internal revenue which due to the nature of the business is insignificant and therefore not disclosed.The geographical distribution of segment revenue and non-current assets is based on the geographical location of the individual subsidiary from which the sales transaction originates. Significant countries are defined as countries representing more than 5% of Group revenue as well as the domicile country, Denmark. No customer com prises more than 10% of Group revenue.",
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"s8_notesesefdkgaap__7__28": {
"value": "1.1 Segments 1.1.1 Operating segments ISS is a leading, global provider of workplace and facility service solutions operating in 30+ countries. Operations are generally managed based on a geographical structure in which countries are grouped into regions. The regions have been identified based on a key principle of grouping countries that share market conditions and cultures. Countrieswhere we do not have a full country-basedsupport structure (partnership countries) are combined in a separate segment \u201cOther countries\u201d.An overview of the grouping of countries into regions is presented in 8.4, Group companies.France classified as held for sale and discontinued operationsOn 9 August 2023, ISS announced its inten-tion to divest the French business, while still retaining global key account customers in the country. As a result, ISS France (excluding global key accounts) was classified as held for sale and discontinued operations and excluded from the segment overview to the right (previously included in Central & Southern Europe). Revenue and operating profit related to the retained global key accounts was presented in Other countries. Comparative figures have been restated accordingly.Unallo-Central &OtherTotal cated/Northern Southern Asia & Ameri-coun-seg-elimi-Total (DKKm)EuropeEuropePacificcastriesmentsnationGroup2023 Revenue, excl. IAS 29 29,324 24,807 14,229 9,605 783 78,748 (65) 78,683 Hyperinflation restatement - (2) - - - (2) - (2)Revenue 29,324 24,805 14,229 9,605 783 78,746 (65) 78,681 Depreciation and amortisation (543) (493) (132) (121) (4)(1,293) (124) (1,417)Operating prof it before other items, excl. IAS 29 1,572 1,487 875 489 48 4,471 (1,123) 3,348 Hyperinflation restatement - (48) - - - (48) - (48)Operating profit before other items 1,572 1,439 875 489 48 4,423 (1,123) 3,300 Operating margin 5.4% 5.8% 6.1% 5.1% 6.1% 5.6% - 4.2%Operating margin, excl. IAS 29 5.4% 6.0% 6.1% 5.1% 6.1% 5.7% - 4.3%Other income and expenses, net - (43) 13 (4) - (34) (59)(93)Amortisation/impairment of customer contracts (13) (37) (2) (17) - (69) - (69)Operating profit 1,559 1,359 886 468 48 4,320 (1,182) 3,138 2022Revenue, excl. IAS 29 28,694 21,646 14,012 8,585 795 73,732 (48) 73,684 Hyperinflation restatement - 154 - - - 154 - 154 Revenue 28,694 21,800 14,012 8,585 795 73,886 (48) 73,838 Depreciation and amortisation (557) (473) (147) (97) (4) (1,278) (137) (1,415)Operating prof it before other items, excl. IAS 29 1,519 1,146 882 445 60 4,052 (1,105) 2,947 Hyperinflation restatement - (29) - - - (29) - (29)Operating profit before other items 1,519 1,117 882 445 60 4,023 (1,105) 2,918 Operating margin 5.3% 5.1% 6.3% 5.2% 7.6% 5.4% - 4.0%Operating margin, excl. IAS 29 5.3% 5.3% 6.3% 5.2% 7.6% 5.5% - 4.0%Other income and expenses, net 45 (15) 156 (124) - 62 (7) 55 Amortisation/impairment of customer contracts (16) (27) (4) (22) - (69) - (69)Operating profit 1,548 1,075 1,034 299 60 4,016 (1,112) 2,904 RevenueRevenue\u2013 by region1)Operating profit profit\u2013 by region4.3DKKbn36% Northern31% Central & Southern21% Asia & Pacific11% Americas1% Other78.7DKKbn37% Northern32% Central & Southern18% Asia & Pacific12% Americas1% Other1.1.2 Geographical distribution1)Revenue Non-current assets (DKKm) 2023 2022 2023 2022 UK & Ireland 10,611 10,396 3,117 3,052 US & Canada 7,004 6,387 2,368 2,492 Switzerland 6,383 5,729 2,206 2,134 Germany 5,864 5,556 974 997 Australia & New Zealand 5,102 4,868 1,343 1,396 T\u00fcrkiye 4,833 3,341 1,525 1,517 Spain 4,460 4,130 1,576 1,196 Denmark (country of domicile) 2,994 3,169 1,730 1,737 2)Other countries 31,430 30,262 11,754 13,231 Total 78,681 73,838 26,593 27,752 1)Excluding deferred tax assets.2)Including unallocated items and eliminations.Group revenue per country is disclosed on p. 118. RevenueRevenue\u2013 by country78.7DKKbn13%UK & Ireland9%US & Canada8%Switzerland8%Germany6%Australia & NZ6%T\u00fcrkiye6%Spain4%Denmark 40%Other countriesNon-current assetsNon-current assets\u2013 by country26.6DKKbn12%UK & Ireland9%US & Canada8%Switzerland4%Germany5%Australia & NZ6%T\u00fcrkiye6%Spain7%Denmark43%Other countriesAccounting policyOur segments are managed primarily based on business performance measured by Operating profit. Segment revenue and costs comprise items that are directly attributable to the individual segments. Unallocated items mainly consist of revenue and cost relating to the Group\u2019s corporate functions. Decisions on financing (financial income and expenses) as well as tax planning (income tax) are managed at Group level and are therefore not managed and allocated to segments.Segment revenue is presented including internal revenue which due to the nature of the business is insignificant and therefore not disclosed.The geographical distribution of segment revenue and non-current assets is based on the geographical location of the individual subsidiary from which the sales transaction originates. Significant countries are defined as countries representing more than 5% of Group revenue as well as the domicile country, Denmark. No customer com prises more than 10% of Group revenue.1.2 Revenue1.2.1 Performance obligations Revenue is generated from rendering of workplace and facility service solutions. Our services are provided at the customer's site on a daily basis continuously over the term of the contract. The customer simultaneously receives and consumes the benefits provided by the Group. Thus, performance obligations are satisfied over time.Revenue is split between portfolio and projects and above-base work, with the vast majority stemming from portfolio revenue, 84% (2022: 82%). (DKKm)2023 2022Portfolio revenue 65,710 60,532 Projects and above-base work 12,971 13,306 Total 78,681 73,838Portfolio revenue comprises revenue from contracts with customers that is contractually agreed (committed) at inception and relates to services that we are obligated to render on a recurring basis over the term of the contract. Revenue from projects and above-base work (e.g. capital projects, events, etc.) is demanded on a non-recurring basis and agreed separately with the customer.1.2.2 Disaggregation of revenue Aligned with our strategy to focus on key accounts in three prioritised segments, where we deliver our core services, we disaggregate revenue based on:\u2022 customer category;\u2022 customer segment;\u2022 core services; and\u2022 geographical regionWe believe that these best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.(DKKm)2023 2022Customer categoryKey accounts 56,253 53,807 Large and medium 18,645 16,406 Small and route-based 3,783 3,625 Total 78,681 73,838 Customer segmentsOffice-based 30,669 29,849 Production-based 18,906 16,985 Healthcare 10,951 9,994 Other 18,155 17,010 Total 78,681 73,838 Core servicesCleaning 33,165 32,801 Technical 18,285 16,574 Food 11,991 10,161 Workplace and other 15,240 14,302 Total 78,681 73,838 Disaggregation of revenue based on geographical region is disclosed in 1.1, Segments.1.2.3 Costs to fulfil a contract The size and complexity of key account contracts often requires ISS to incur significant transition and mobilisation costs before service delivery commences in order to be able to fulfil the performance obligations under the contracts. Transition and mobilisation costs comprise costs, directly related to launching certain large long-term contracts such as transfer of employ-ees from previous suppliers, site due diligence, planning and developing service plans. The cost includes internal direct costs and external costs, e.g. to consultants.At 31 December 2023, capitalised transition and mobilisation costs amounted to DKK 42 million (2022: DKK 36 million). The increase in 2023 was due to ongoing mobilisation activities for a new contract in the UK, partly offset by ordinary amortisation, mainly in Denmark, Sweden and the UK.Capitalised transition and mobilisation costs are presented in 2.2, Other receivables. CustomersCustomer category78.7DKKbn71% Key accounts 24% Large and medium5% Small and route-basedegmentsCustomer segments78.7DKKbn39% Office-based24% Production-based14%Healthcare23% OtherervicesCore services78.7DKKbn42% Cleaning23% Technical15%Food20% Workplace and other1.2.4 Revenue backlog Our revenue base consists of a mix of yearly con-tracts, which are renewed tacitly, and thousands of multi-year contracts, the majority of which have an initial term of three to five years. Depending on the size and complexity of the contract, the transition and mobilisation period is normally between six and twelve months for our key accounts. Contracts regularly include options for the customer to terminate for convenience within three to nine months. However, we maintain a high retention rate of 95%, both for key accounts and overall, supporting that these options are rarely exercised.The vast majority of our revenue is portfolio revenue, see 1.2.1, Performance obligations. The remaining part is non-recurring in the form of projects and above-base work, which is not committed as part of the main customer contract and thus, excluded from the revenue backlog. In addition, the Group has excluded contracts with a term of less than 12 months and contracts where the Group invoices a fixed amount for each hour of service provided.As a result, the amounts disclosed in the maturity table is significantly lower than reported revenue and will likely not reflect the degree of certainty in future revenue (and cash inflows) to the Group. As a supplement, in the management review, p. 20, a maturity overview for our largest key accounts (> DKK 200 million of annual revenue) is presented. (DKKm)2023 2022< 1 year 33% 20,793 33% 20,2301-5 years 56% 35,356 55% 33,237> 5 years 11% 7,463 12% 7,352Total100% 63,612 100% 60,819Accounting policyRevenue from contracts with customers is recog-nised when control of the services is transferred to the customer. Control is transferred over time as the customer simultaneously receives and consumes the benefits provided by the Group.Services are invoiced on a monthly basis at an amount corresponding to the value of the com-pleted performance obligation.The input method is used to measure progress towards complete satisfaction of the service due to the direct relationship between labour hours and costs incurred, and the transfer of services to the customer. The Group recognises revenue on the basis of the labour hours and costs expensed relative to the total expected labour hours and costs to complete the service. Significant accounting estimates and judgementsOur customer contracts are based on three different commercial models requiring varying levels of man-agement estimates and judgement in determining the transaction price: 1) Fixed price contracts;2) Cost-plus contracts; and3) Cost-plus variations (typically capped)For fixed price contracts, revenue is recognised based on the transaction price stated in the contract, and thus require limited judgement from management.For cost-plus contracts, including variations e.g. with a cap, ISS\u2019s transaction price is determined based on costs incurred with the addition of an agreed markup/management fee. Determining the transaction price requires management to assess, which costs may be included in the calculation basis and if relevant, whether within the capped maximum.For key accounts and other large contracts, the transaction price may also include a variable consideration based on achievement of certain key performance indicators and gain share. Management estimates variable consideration based on the most likely amount to which it expects to be entitled on a contract-by-contract basis. Management makes a de-tailed assessment of the amount of revenue expected to be received and the probability of success in each case. Variable consideration is included in revenue as services are performed to the extent that it is highly probable that the amount will not be subject to significant reversal.Price adjustment mechanisms in our customer con-tracts vary in terms of content and extent. Judgement is required by management to determine the amount of revenue expected to be received as a result of inflationary pressure on costs of delivery. Contract modifications regularly occur, particularly for key account customers, in order to ensure that service solutions reflect their current needs. Such modifications are generally agreed with the customer in advance as per the contract in accordance with a specified change management procedure and accounted for going forward with no impact on recognised revenue up to the date of modification. Management assess how quickly ISS would be able to implement the scope changes of the service.Gross or net presentation of revenue Management uses judgement to determine whether the nature of ISS\u2019s promise is to provide the specified services (ISS is the principal), or to arrange for another party to provide the services (ISS is acting as an agent). This assessment is based on an evaluation of whether ISS controls the specified services before transfer to the customer. The Group has concluded that as a main rule ISS is the principal in its revenue arrangements, because it typically controls the services before transferring them to the customer, and consequently as a main rule recognises revenue on a gross basis.1.3 Employee costs (DKKm)Note 2023 2022Wages and salaries 39,992 36,756Social security costs 8,141 7,995Pensions 7.1 1,402 1,445Share-based payments 6.2 72 80 Total 49,607 46,276Average number of employees 334,962 337,924Our strategy is based on self-delivery of our core services by our placemakers. Our business model is asset-light and therefore employee costs is our single largest cost category.In 2023, employee costs comprised 66% of thetotal operating costs (2022: 65%).Number of employees At 31 December 2023, total number of employees was 352,749 (2022: 351,053). The number of employees includes both the continuing and dis-continued operations. Once the divestment of France is completed, the number of employees will be reduced with around 15,000 employees.Average number of employees was 334,962 (2022: 337,924). Including France, average num-ber of employees was 349,086 (2022: 352,795).Government grantsIn 2023, the Group recognised government grants of DKK 184 million (2022: DKK 159 million) in the form of wage subventions, which have been recognised as a reduction of em-ployee costs. The grants compensate the Group primarily for social security, wage increases as well as employing certain categories of employees such as trainees, disabled persons, long-term unemployed and employees in certain age groups.In addition, the Group received Covid-19 grants during the pandemic to compensate costs re lated to e.g. employees on furlough, social security contribution and sick pay compen-sation. With the cessation of the pandemic, the grants have gradually lapsed. In 2023, the Group recognised Covid-19-related grants of DKK 18 million, mainly in Austria and Hong Kong (2022: DKK 122 million mainly in US, Hong Kong and Sweden).1.4 Other income and expenses, net (DKKm)2023 2022Gain on divestments 14 204 Other income 14 204 Loss on divestments (32) (124)Integration costs(8) (7)Acquisition costs(8)(4)Other(59) (14)Other expenses(107) (149)Other income and expenses, net(93) 55 Gain on divestments mainly related to the land-scaping and the sanitation services businesses in Singapore. In 2022, the gain mainly related to the waste management business in Hong Kong and the damage control business in the UK.Loss on divestments mainly related to the security and the technical services businesses in Spain. In 2022, the loss comprised a withdrawal liability on a multiemployer plan in the US related to the divestment of Specialized Services in December 2021.Integration costs related to the acquisition of Grupo Fissa in Spain and Livit FM Services AG in Switzerland (2022: Livit FM Services AG).Acquisition costs mainly related to the acqui-sition of Grupo Fissa in Spain (2022: Livit FM Services AG).Other comprised a fair value adjustment of a contingent consideration associated with the transaction in T\u00fcrkiye in 2021. In 2022, the loss comprised costs related to winding-up of a minor business in Germany.Accounting policyOther income and expenses, net consists of recurring and non-recurring items that manage-ment does not consider to be part of the Group\u2019s ordinary operating activities, i.e. gains and losses on divestments, remeasurement of disposal groups classified as held for sale, the winding-up of operations, disposal of property and acquisition and integration costs.Other income and expenses, net are presented separately from the Group's ordinary operating activities as management believes that this best reflects the Group's financial performance.",
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"s8_notesesefdkgaap__7__30": {
"value": "Accounting policyOur segments are managed primarily based on business performance measured by Operating profit. Segment revenue and costs comprise items that are directly attributable to the individual segments. Unallocated items mainly consist of revenue and cost relating to the Group\u2019s corporate functions. Decisions on financing (financial income and expenses) as well as tax planning (income tax) are managed at Group level and are therefore not managed and allocated to segments.Segment revenue is presented including internal revenue which due to the nature of the business is insignificant and therefore not disclosed.The geographical distribution of segment revenue and non-current assets is based on the geographical location of the individual subsidiary from which the sales transaction originates. Significant countries are defined as countries representing more than 5% of Group revenue as well as the domicile country, Denmark. No customer com prises more than 10% of Group revenue.",
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},
"s8_notesesefdkgaap__7__24": {
"value": "Accounting policyOur segments are managed primarily based on business performance measured by Operating profit. Segment revenue and costs comprise items that are directly attributable to the individual segments. Unallocated items mainly consist of revenue and cost relating to the Group\u2019s corporate functions. Decisions on financing (financial income and expenses) as well as tax planning (income tax) are managed at Group level and are therefore not managed and allocated to segments.Segment revenue is presented including internal revenue which due to the nature of the business is insignificant and therefore not disclosed.The geographical distribution of segment revenue and non-current assets is based on the geographical location of the individual subsidiary from which the sales transaction originates. Significant countries are defined as countries representing more than 5% of Group revenue as well as the domicile country, Denmark. No customer com prises more than 10% of Group revenue.Accounting policyRevenue from contracts with customers is recog-nised when control of the services is transferred to the customer. Control is transferred over time as the customer simultaneously receives and consumes the benefits provided by the Group.Services are invoiced on a monthly basis at an amount corresponding to the value of the com-pleted performance obligation.The input method is used to measure progress towards complete satisfaction of the service due to the direct relationship between labour hours and costs incurred, and the transfer of services to the customer. The Group recognises revenue on the basis of the labour hours and costs expensed relative to the total expected labour hours and costs to complete the service.Accounting policyOther income and expenses, net consists of recurring and non-recurring items that manage-ment does not consider to be part of the Group\u2019s ordinary operating activities, i.e. gains and losses on divestments, remeasurement of disposal groups classified as held for sale, the winding-up of operations, disposal of property and acquisition and integration costs.Other income and expenses, net are presented separately from the Group's ordinary operating activities as management believes that this best reflects the Group's financial performance.Accounting policyTrade receivables comprise invoiced and unbilled revenue. Unbilled revenue represents service deliveries where the performance obligation has been fulfilled, but not yet invoiced. Trade receiv-ables are recognised at the invoiced amount less expected credit losses, which equals amortised costs due to their short term nature.Expected credit losses are calculated using a provision matrix. The provision rates are based on days past due for grouping of customers with similar loss patterns, e.g. by geographical region, customer type and rating. The calculation reflects reasonable and supportable information about past events, current conditions and forecasts of future economic conditions. Trade receivables are generally written off if they are past due more than 180 days or when there is no reasonable expectation of recovery. Write-offs are presented in Other operating expenses. Subsequent recovery of write-offs or reversal of expected credit losses are credited against the same line item. Factoring and participation in customers\u2019 supply chain finance arrangements (factoring) are mainly used to optimise cash collection and to finance working capital impacts related to growth with certain key account customers, including from general pressure for longer payment terms and necessary investments in transition and mobilisa-tion of such contracts. Trade receivables subject to factoring agreements are derecognised once the derecognition criteria have been met and all substantial risks and rewards have been trans-ferred to the factor. Once the trade receivables have been derecognised, the Group does not carry any risk and has no continuing involvement in these trade receivables.Accounting policyOther receivables comprise various items of different nature and thus different measurement methods are applied. As these items are consid-ered individually immaterial, they are presented together as Other receivables.Except for the items described below, other receivables are recognised initially at cost and subsequently at amortised cost. Due to the short-term nature of other receivables, amortised cost will equal the cost.Sign-on fees and transition and mobilisation costs are capitalised and amortised over the initial secured contract term consistent with ISS\u2019s transfer of the related services to the customer.Securities and derivatives are measured at fair value with fair value adjustments being recognised in profit or loss. The fair value of deriv-atives is presented in Other receivables when the fair value is positive and in Other liabilities when the fair value is negative.Accounting policyProvisionsProvisions are recognised at the estimated costs when the Group, as a result of a past event, has a legal or constructive obligation and it is probable that an outflow of economic benefits will be required to settle the obligation. The amount is discounted using the Group\u2019s average borrowing rate, if this significant-ly impacts the measurement of the liability. Provisions are recognised for:Legal claims and disputes, e.g. lawsuits and other disputes, based on external legal assistance and established precedents.Self-insurance on employers\u2019 liability and/or workers compensation based on valuations from external actuaries. Restructurings when a detailed, formal restructuring plan is announced to the affected parties on or before the reporting date. The plan must identify the business concerned, the location and number of employees af-fected, and a detailed estimate of the associated costs, as well as the timeline must be in place. Onerous contracts, when the unavoidable costs, including directly allocated overhead costs, of meeting the obligations under the contract exceed the economic benefits expected to be received under it, corresponding to the lower of the costs to fulfil the obligations under the contract and the costs of exiting the contract. Customer and contract-related disputes (presented in \"Other\" provisions) based on an assessment of available facts and circumstances in respect of the specific risks or disputes, when it is deemed that a contractual, non-contractual or constructive obliga-tion exists, and it is probable that this will lead to an outflow of economic resources from the Group. Decommissioning liability (presented in \"Other\" provisions) if the Group has a legal obligation to dis-mantle or remove an asset or restore a site or leased facilities when vacated. The present value of the obli-gation is included in the cost of the relevant tangible or right-of-use asset and depreciated accordingly. The estimated future costs of decommissioning are reviewed annually and adjusted as appropriate. Changes in the estimated future costs, or in the discount rate applied, are added to or deducted from the cost of the relevant asset.Contingencies and commitmentsContingent liabilities are possible of nature as the existence of the obligation will be confirmed by the occurrence or non-occurrence of future events. An obligation may also be contingent if the amount cannot be estimated reliable or settlement is not probable.Commitments is the Group\u2019s promise resulting from a contractual agreement to assume a future obligation for a future delivery.Contingent liabilities and commitments do not repre-sent a legal or constructive obligation. Thus, they are not recognised, but disclosed in the notes.Accounting policyRight-of-use assets are recognised at the com-mencement date of the lease and measured at cost less accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities, including extension options. Certain leases comprise a liability to dismantle or remove the asset or restore the facility. Cost related to such liability is recognised as part of the cost of the right-of-use asset. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful life of the asset.Estimated useful lifeProperties 5-10 yearsVehicles3-5 yearsOther equipment 2-5 yearsDepreciation methods, useful lives and residual values are reassessed at the reporting date.Certain leases have a term of 12 months or less or are leases of low-value assets, such as minor cleaning and IT equipment and office furniture. The recognition exemptions are applied for these leases and lease payments are recognised in Other operating expen-ses on a straight-line basis over the lease term.Property, plant and equipment is measured at cost, less accumulated depreciation and impair-ment losses.Certain assets comprise a liability to dismantle or remove the asset or restore the site. Cost related to such liability is recognised as part of the cost of the asset.Property, plant and equipment is depreciated on a straight-line basis over the estimated useful lives of the assets.Estimated useful lifePlant and equipment 3-10 yearsLeasehold improvements (lease term)3-10 yearsBuildings 20-40 yearsLandNot depreciatedDepreciation methods, useful lives and residual values are reassessed at the reporting date.Gains and losses arising on the disposal or retirement of property, plant and equipment are recognised in Other operating expenses in the year of sale, except gains and losses arising on disposal of property, which are recognised in Other income and expenses, net.Accounting policyGoodwill and brands with indefinite useful lives (i.e. the ISS brand) are not amortised but recognised at cost less accumulated impairment losses. Acquisition-related customer contracts are rec-ognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.Software is measured at cost less accumulated am-ortisation and impairment losses. The cost of soft-ware developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other devel-opment costs for which it cannot be demonstrated that future economic benefits will flow to the Group are recognised in profit or loss.Amortisation is calculated on a straight-line basis over the estimated useful lives except for certain customer contracts where the unit of production method better reflects the expected pattern of consumption. Estimated useful lifeCustomer contracts 10-24 yearsSoftware 3-10 yearsAmortisation methods and useful lives are reas-sessed at the reporting date.Cloud-based arrangements Software within a cloud-based arrangement is recognised as either an intangible asset, a leased asset or as a service received (Software as a Service) based on the con-tract and facts and circumstances of the software. Software as a Service (SaaS) arrangements are service contracts providing the Group with the right to access a cloud provider's application software over the contract term.Costs incurred to configure or customise, and the ongoing fees to obtain access to the cloud provider\u2019s application software, are recognised as Other oper-ating expenses when the services are received. Also, internal costs such as costs related to selection of cloud provider, data conversion, training and testing are expensed in Other operating expenses.Configuration and customisation activities under-taken in implementing SaaS arrangements may give rise to a separate asset, i.e. the development of a software code that enhances, modifies or creates additional capability to the Group\u2019s existing on-prem-ise systems. Costs incurred for these activities are recognised as intangible assets if they meet the recognition criteria and amortised over the useful life of the software.Accounting policyThe Group performs impairment test of goodwill and the ISS brand at the reporting date or when indications of impairment exist. Other non-cur-rent assets are tested annually for indications of impairment.When performing the impairment test, the recoverable amount of the asset is determined, i.e. the higher of the fair value of the asset less anticipated costs of disposal and its value in use. The value in use is calculated as the present value of expected future cash flows from the asset or the CGU to which the asset belongs.Impairment of goodwill is recognised in the statement of profit or loss in a separate line if the carrying amount of an asset or CGU exceeds its estimated recoverable amount. The carrying amount of goodwill is tested for impairment together with the other non-current assets in the CGU to which goodwill is allocated.Impairment of goodwill is not reversed. Impair-ment of other assets is reversed if estimates used to calculate the recoverable amount have been changed. An impairment loss is reversed to the extent that the carrying amount does not exceed the carrying amount that would have been deter-mined, net of depreciation and amortisation, if no impairment loss had been recognised. Management believes that the value of the ISS brand supports the ISS Group in its entirety rather than any individual CGU. Accordingly, the ISS brand is tested for impairment at Group level. The impairment test is based on group-wide cash flows adjusted for the Group\u2019s total goodwill and other non-current assets.Accounting policyBusiness combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling interests in the acquiree. For each business com-bination, the Group elects whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. Acquisition-related costs are expensed as incurred and presented in Other income and expenses, net.Contingent consideration to be transferred by the ac-quirer is recognised at fair value at the acquisition date.If uncertainties exist at the acquisition date re-garding identification or measurement of assets, liabilities and contingent liabilities, initial recognition is based on provisionally determined fair values. Changes to fair values are adjusted against goodwill up until 12 months after the acquisition date. Comparatives are restated accordingly. Changes in fair values after 12 months are recognised in Other income and expenses, net. Goodwill is initially measured at cost being the excess of the consideration transferred over the net identifiable assets acquired and liabilities assumed. After initial recognition, goodwill is measured at cost less accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the Group\u2019s cash-generating units (CGUs) that are expected to benefit from the combination.Prior years adjustments Prior year adjustments related to the acquisition of Livit FM Services AG in Switzerland in 2022.Accounting policyAssets held for sale comprise assets and liabilities related to disposal groups held for sale, and are measured at the lower of their carrying amount and fair value less costs to sell. Once classified as held for sale, assets are not amortised or depreciated.Impairment losses on initial classification as held for sale, and subsequent gains and losses on remeasurement are recognised in profit or loss and disclosed in the notes.Assets held for sale are presented in separate lines of the statement of financial position and specified in the notes. Comparatives are not restated. A disposal group is presented as discontinued operations if it is a geographical area, i.e. a CGU (country), that either has been disposed of, or is classified as held for sale.Discontinued operations are presented separately as Net profit from discontinued operations and specified in the notes. Comparatives are restated.Cash flows from discontinued operations are in-cluded in cash flow from operating, investing and financing activities together with cash flows from continuing operations, but separately specified in 3.4.1, Discontinued operations.Divestments Gain or loss on disposal of an opera-tion that is part of a CGU includes a portion of the related goodwill allocated to that CGU. Goodwill related to the disposed operation is measured based on the fair value of the disposed operation relative to the fair value of the entire CGU. If the Group loses control over a subsidiary, it derecognises the related assets (including goodwill), liabilities, non-controlling interests and other com-ponents of equity, while any resultant gain or loss is recognised in Other income and expenses, net.Accounting policyRetained earnings is the Group\u2019s free reserves, which includes share premium. Share premium com-prises amounts above the nominal share capital paid by shareholders when shares are issued by ISS A/S. Treasury shares The cost of acquisition and pro-ceeds from sale of treasury shares are recognised in reserve for treasury shares. Dividends received in relation to treasury shares are recognised in retained earnings.Proposed dividends are recognised as a liability at the date when they are adopted at the annual general meeting.Translation reserve comprises foreign exchange differences arising from the translation of financial statements of foreign entities with a functional currency other than DKK as well as from the translation of non-current balances which are considered part of the investment in foreign entities. Furthermore, the reserve includes fair value adjustments of net investment hedges and hyperinflation restatement. On full realisation of a foreign entity the accumulated foreign exchange adjustments are transferred to profit or loss in the same line item as the gain or loss.Accounting policyIssued bonds and bank loans are recognised initially at fair value net of transaction costs (financing fees) and subsequently at amortised cost. Any difference between the proceeds and the nominal value is recognised in Financial expenses over the term of the loan using the effective interest method. Lease liabilities At the commencement date the Group recognises lease liabilities at the present value of the lease payments to be made over the lease term. The present value is calculated using the Group\u2019s incremental borrowing rate if the interest rate implicit in the lease is not readily determinable. Subsequently, the lease liability is measured at amortised cost and remeasured due to modifications such as changes in; 1) lease term, 2) the assessment to purchase the underlying asset, 3) future lease payments (e.g. a change in an index or rate), or 4) the Group\u2019s estimate of the amount expected to be payable under a residual guarantee.Accounting policyThe Group\u2019s interest rate swap qualifies as fair val-ue hedge as the risk being hedged is the possible change in the fair value of a recognised liability. Thus, hedge accounting is applied. The change in the fair value of the interest rate swap (the hedging instrument) is recognised in profit or loss under Financial income or Financial expenses. The change in the fair value of the hedged item (the bond) attributable to the risk being hedged is recognised as part of the carry-ing amount of the hedged item and is also rec-ognised in profit or loss under Financial income or Financial expenses. As the hedge is effective there is no net impact on profit or loss.The unamortised fair value is recognised in profit or loss if the hedged item is derecognised.Fair value measurement takes current market data into account. The Group uses valuation tech-niques that are appropriate in the circumstances and for which sufficient data are available to measure fair value. Measurement is categorised as Level 2 in the fair value hierarchy as it is based on directly observable market data.Accounting policyDeferred tax is provided using the liability method on temporary differences between tax bases of assets and liabilities and their carrying amounts, except for goodwill which is not deductible for tax purposes. Where alternative taxation rules can be applied to determine the tax base, deferred tax is measured according to management\u2019s intended use of the asset or settlement of the liability. Deferred tax is measured according to the taxation rules and tax rates in the respective countries applicable at the reporting date when the deferred tax becomes current tax.Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in non-current assets at the expected value of their utilisation, either as a set-off against tax on future income, or as a set-off against deferred tax liabilities in the same legal tax entity and jurisdiction.The Group has applied the mandatory excep-tion for recognition and disclosure of deferred tax assets and liabilities arising from Pillar Two Income taxes.Accounting policyThe value of services received in exchange for granted performance-based share units (PSUs) and restricted share units (RSUs) are measured at fair value at the grant date and recognised in employee costs over the vesting period with a corresponding increase in equity, as both schemes are equity-settled. The fair value of granted PSUs under the long-term incentive programme is measured using a generally accepted valuation model taking into consideration the terms and conditions upon which the PSUs were granted including market-based vesting conditions (Total Shareholder Return (TSR)). On initial recognition, an estimate is made of the number of PSUs and RSUs expected to vest. The es-timated number is subsequently revised for changes in the number of PSUs and RSUs expected to vest due to non-market based vesting conditions.Accounting policyContributions to defined contribution plans are recognised in Employee costs when the related service is provided. Defined benefit plans The Group\u2019s net obligation is calculated by a qualified actuary using the projected unit credit method, separately for each plan by estimating the amount of future benefits that em-ployees have earned in return for their service in the current and prior periods. The present value less the fair value of plan assets is recognised in Pensions and similar obligations. When the calculation results in a potential asset, recognition is limited to the present value of economic benefits available in the form of future refunds from or reductions in future contributions to the plan. To calculate the present value, consideration is given to applicable minimum funding requirements.Pension costs are calculated based on actuarial esti-mates and financial expectations at the beginning of the year. Service costs are recognised in Employee costs and net interest is recognised in Financial expenses.Remeasurements (actuarial gains/losses), compris-ing the differences between the expected devel-opment in pension assets and liabilities and the realised amounts at the reporting date as well as the effect of asset ceiling are recognised in other comprehensive income.When the benefits are changed or a plan is curtailed, the resulting change in benefits that relates to past service or the gain or loss on curtailment is recognised in Employee costs. Gains and losses on settlement are recognised when incurred.The aggregated value of unfunded plans is pre-sented as a net liability and the aggregated value of funded plans are presented as a net asset.Other long-term employee benefits are calculated as defined pension plans, except that actuarial gains and losses are recognised in Employee costs. Other long-term employee benefits comprise jubilee bene-fits, long-service or sabbatical leave, etc.Accounting policyInflation restatement The financial statements of ISS T\u00fcrkiye are restated for inflation to reflect the purchasing power at the reporting date using the consumer price index.Non-monetary items, which are carried at historical cost, such as goodwill, customer contracts, right-of-use assets, property, plant and equipment and deferred tax, have been restated for the effect of inflation based on changes in the price index for the period from initial recognition to 31 December 2023 or to the date of disposal, where relevant. The restatement was made effective from the time, the items were initially recognised, which was no earlier than 2005, when ISS first entered T\u00fcrkiye through an acquisition.Management assesses whether the restatement of non-monetary items represents an indication of impairment to ensure that the restated amounts do not exceed the recoverable amounts of the assets, see 3.2, Impairment tests.Monetary items such as receivables, payables, loans and borrowings are not subject to restatement for the effects of inflation as these items already reflect the purchasing power at the reporting date.Equity includes the opening effect of restating non-monetary items. Further, the restatement effects of inflation based on changes in the price index for the reporting period is recognised in other comprehensive income with set-off within financial income or expenses in profit or loss.Profit or loss transactions in the period are restated to reflect changes in the price index from the time of transaction to the end of the reporting period with the exception of depreciation and amortisation, which are recalculated based on the inflation-adjusted carry-ing value of the relevant non-monetary assets. The restating gain or loss is recognised in financial income or expenses, except for the tax effect, which is recognised under income tax.Cash flow statement Operating profit before other items includes a non-cash effect from the inflation restatement, which has been eliminated in the line Non-cash items related to hyperinflation. Price indexRestatement for hyperinflation of the financial state-ments of ISS T\u00fcrkiye is based on the development in the consumer price index provided by the T\u00fcrkiyish Statistical Institute calculated as an average year to date conversion factor. For 2023, the inflation rate in T\u00fcrkiye was 64.77% (2022: 64%).Retranslation from TRY to DKK The financial statements of ISS T\u00fcrkiye, including effects of inflation restatement, are translated into DKK apply-ing the TRY/DKK exchange rate at the reporting date as opposed to the Group\u2019s normal practice of translating the profit or loss using the exchange rate at the trans-action date or an average exchange rate for the month. The TRY/DKK exchange rate decreased from 37.25 at the beginning of 2023 to 22.82 at 31 December 2023. The average rate was 29.80 (2022: 43.00).8.1 Other material accounting policiesISS A/S is listed on Nasdaq Copenhagen. The consolidated financial statements of ISS A/S for the year ended 31 December 2023 comprise ISS A/S and its subsidiaries (collectively, the Group). Signifi-cant subsidiaries are listed in 8.4, Group companies.The 2023 Annual Report for ISS A/S was discussed and approved by the Executive Group Management Board (the EGMB) and the Board of Directors (the Board) on 22 February 2024 and issued for approval at the subsequent annual general meeting on 11 April 2024. Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with IFRS Accounting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act (class D). In addition, the consolidated financial statements have been prepared in compliance with the IFRS Accounting Standards issued by the IASB.The consolidated financial statements have been prepared on the basis that the Group will continue to operate as a going concern. The consolidated financial statements are presented in Danish kroner (DKK), which is ISS A/S\u2019s functional currency. All amounts have been rounded to nearest DKK million (DKKm), unless otherwise stated.Fair value measurement and disclosure Items are measured at historical cost, except for assets and liabilities held for sale and derivatives that are measured at fair value.Fair value measurements are categorised within the fair value hierarchy and disclosed in the relevant notes.For the purpose of fair value disclosures, management has assessed that the fair values of cash and cash equivalents, trade receivables, contingent consideration, trade payables and other current and non-current financial assets and liabilities approximates their carrying amount largely due to the short-term nature of these items. The fair value of loans and borrow-ings, including methods and assumptions used to estimate the fair value, are disclosed in 4.2, Borrowings and interests. Basis of consolidationThe consolidated financial statements comprise ISS A/S and entities controlled by ISS A/S.Consolidation of entities is performed after elimination of intra-group balances, income and expenses. Unrealised losses are eliminated in the same way as unrealised gains, but only to the extent that there is no evidence of impairment. By virtue of agreement certain non-controlling shareholders are only eligible of receiving bene-fits from their non-controlling interest when ISS as controlling shareholder has received their initial investment and compound interest on such. In such instances the subsidiaries\u2019 result and equity are fully allocated to ISS until the point in time where ISS has recognised amounts exceeding their investment including compound interest on such.MaterialityThe consolidated financial statements separately present items or groups of items that are considered material. In addition, information that is considered material, either individually or in combination with other information, is disclosed.Materiality is judged by reference to the size and nature of the item. The deciding factor is whether the omission or misstatement could, individually or collectively, influence the economic decisions made by the primary users on the basis of the consolidated financial statements. In particular circum-stances, either the nature or the amount of an item or an aggregate of items could be the determining factor.Foreign currency Transactions in currencies other than the func-tional currency of the respective Group compa-nies are considered transactions denominated in foreign currencies.On initial recognition, except for companies operating in hyperinflationary environments, for-eign currency transactions are translated to the functional currencies of the Group companies at the exchange rates at the transaction date. Translation differences between the exchange rates at the transaction date and the date of payment are recognised in Financial income or Financial expenses.Monetary items denominated in foreign currencies are translated at the exchange rates at the reporting date. The difference between the exchange rates at the reporting date and at the transaction date or the exchange rate used in the latest financial statements is recognised in Financial income or Financial expenses.On recognition in the consolidated financial statements of Group companies with a func-tional currency other than DKK, the statements of profit or loss and statement of cash flows are translated at the average exchange rates for the period and the statements of financial position are translated at the exchange rates at the reporting date. Foreign exchange adjustments arising on translation of the opening balance of equity of foreign entities and on translation of receivables considered part of the net invest-ment in the entity and on translation of the prof-it or loss statements from the exchange rates at the transaction date to the exchange rates at the reporting date are recognised in other comprehensive income. However, if the foreign entity is a non-wholly owned subsidiary, the relevant proportion of the translation difference is allocated to the non-controlling interest.8.2 Change in accounting policies and disclosuresFrom 1 January 2023, the Group has adopted the following amendments to standards with no sig-nificant impact on recognition and measurement:\u2022 Amendments to IAS 8: Definition of Account-ing Estimates\u2022 Amendments to IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting Policies \u2022 Amendments to IAS 12: International Tax Reform \u2014 Pillar Two Model Rules\u2022 Amendments to IAS 12: Deferred Tax related to Assets and Liabilities arising from a Single TransactionThe amendments below impacted the disclosures of accounting policies:IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting PoliciesThe amendments to IAS 1 and IFRS Practice Statement 2 requires us to disclose the material accounting policies instead of significant ac-counting policies thereby making the accounting policies more specific and thus more relevant to users. The amendments impacted the Group\u2019s disclosures of accounting policies, but not the measurement, recognition or presentation of any items in the Group\u2019s financial statements. From 2023, only the Group's material accounting policies are disclosed. IAS 12: International Tax Reform \u2014 Pillar Two Model Rules The Group is within the scope of the Pillar Two rules (Pillar II) applying from 1 January 2024. However, since Pillar II was not effective at the reporting date, the Group has no related current tax exposure.The Group applies the mandatory exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar II income taxes, as provided in the 2023 amend-ments to IAS 12.The Group has prepared a preliminary assess-ment of the its exposure to Pillar II income taxes using 2023 data. Based on the preliminary assessment, the Group anticipates to be able to apply the transitional Safe Harbour rules for all countries in 2024, which will switch off the normal Pillar II calculation rules and thus no top-up taxes will be payable for 2024. The transitional Safe Harbour rules are more simple than the normal Pillar II calculation rules, and can be applied during the transitional period for 2024-2026 if specific tests can be fulfilled demonstrating that the risk of Pillar II top-up taxes is low.8.3 New regulationsIASB issued amended standards and interpre-tations, which are not yet mandatory for the consolidated financial statements of the Group at 31 December 2023. The Group expects to adopt the new standards and interpretations when they become mandatory.Based on the current business setup and level of activities, none of these standards and interpre-tations are expected to have a material impact on the recognition and measurement in the consolidated financial statements.Sustainability reporting As of first January 2024, the reporting require-ments set out in the Corporate Sustainability Reporting Directive (CSRD) will become applica-ble for the annual report published in 2025.The Group has initiated a project to assess the impact of the related European Sustainability Reporting Standards (ESRS) and how to imple-ment the new requirements in a single Annual Report. In addition, the Group considers the process of production, collection and consoli-dation of sustainability-related data to ensure an effective, consistent and sound reporting process from 2024.",
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"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
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"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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},
"s8_notesesefdkgaap__7__32": {
"value": "1.2 Revenue1.2.1 Performance obligations Revenue is generated from rendering of workplace and facility service solutions. Our services are provided at the customer's site on a daily basis continuously over the term of the contract. The customer simultaneously receives and consumes the benefits provided by the Group. Thus, performance obligations are satisfied over time.Revenue is split between portfolio and projects and above-base work, with the vast majority stemming from portfolio revenue, 84% (2022: 82%). (DKKm)2023 2022Portfolio revenue 65,710 60,532 Projects and above-base work 12,971 13,306 Total 78,681 73,838Portfolio revenue comprises revenue from contracts with customers that is contractually agreed (committed) at inception and relates to services that we are obligated to render on a recurring basis over the term of the contract. Revenue from projects and above-base work (e.g. capital projects, events, etc.) is demanded on a non-recurring basis and agreed separately with the customer.1.2.2 Disaggregation of revenue Aligned with our strategy to focus on key accounts in three prioritised segments, where we deliver our core services, we disaggregate revenue based on:\u2022 customer category;\u2022 customer segment;\u2022 core services; and\u2022 geographical regionWe believe that these best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.(DKKm)2023 2022Customer categoryKey accounts 56,253 53,807 Large and medium 18,645 16,406 Small and route-based 3,783 3,625 Total 78,681 73,838 Customer segmentsOffice-based 30,669 29,849 Production-based 18,906 16,985 Healthcare 10,951 9,994 Other 18,155 17,010 Total 78,681 73,838 Core servicesCleaning 33,165 32,801 Technical 18,285 16,574 Food 11,991 10,161 Workplace and other 15,240 14,302 Total 78,681 73,838 Disaggregation of revenue based on geographical region is disclosed in 1.1, Segments.1.2.3 Costs to fulfil a contract The size and complexity of key account contracts often requires ISS to incur significant transition and mobilisation costs before service delivery commences in order to be able to fulfil the performance obligations under the contracts. Transition and mobilisation costs comprise costs, directly related to launching certain large long-term contracts such as transfer of employ-ees from previous suppliers, site due diligence, planning and developing service plans. The cost includes internal direct costs and external costs, e.g. to consultants.At 31 December 2023, capitalised transition and mobilisation costs amounted to DKK 42 million (2022: DKK 36 million). The increase in 2023 was due to ongoing mobilisation activities for a new contract in the UK, partly offset by ordinary amortisation, mainly in Denmark, Sweden and the UK.Capitalised transition and mobilisation costs are presented in 2.2, Other receivables. CustomersCustomer category78.7DKKbn71% Key accounts 24% Large and medium5% Small and route-basedegmentsCustomer segments78.7DKKbn39% Office-based24% Production-based14%Healthcare23% OtherervicesCore services78.7DKKbn42% Cleaning23% Technical15%Food20% Workplace and other1.2.4 Revenue backlog Our revenue base consists of a mix of yearly con-tracts, which are renewed tacitly, and thousands of multi-year contracts, the majority of which have an initial term of three to five years. Depending on the size and complexity of the contract, the transition and mobilisation period is normally between six and twelve months for our key accounts. Contracts regularly include options for the customer to terminate for convenience within three to nine months. However, we maintain a high retention rate of 95%, both for key accounts and overall, supporting that these options are rarely exercised.The vast majority of our revenue is portfolio revenue, see 1.2.1, Performance obligations. The remaining part is non-recurring in the form of projects and above-base work, which is not committed as part of the main customer contract and thus, excluded from the revenue backlog. In addition, the Group has excluded contracts with a term of less than 12 months and contracts where the Group invoices a fixed amount for each hour of service provided.As a result, the amounts disclosed in the maturity table is significantly lower than reported revenue and will likely not reflect the degree of certainty in future revenue (and cash inflows) to the Group. As a supplement, in the management review, p. 20, a maturity overview for our largest key accounts (> DKK 200 million of annual revenue) is presented. (DKKm)2023 2022< 1 year 33% 20,793 33% 20,2301-5 years 56% 35,356 55% 33,237> 5 years 11% 7,463 12% 7,352Total100% 63,612 100% 60,819Accounting policyRevenue from contracts with customers is recog-nised when control of the services is transferred to the customer. Control is transferred over time as the customer simultaneously receives and consumes the benefits provided by the Group.Services are invoiced on a monthly basis at an amount corresponding to the value of the com-pleted performance obligation.The input method is used to measure progress towards complete satisfaction of the service due to the direct relationship between labour hours and costs incurred, and the transfer of services to the customer. The Group recognises revenue on the basis of the labour hours and costs expensed relative to the total expected labour hours and costs to complete the service. Significant accounting estimates and judgementsOur customer contracts are based on three different commercial models requiring varying levels of man-agement estimates and judgement in determining the transaction price: 1) Fixed price contracts;2) Cost-plus contracts; and3) Cost-plus variations (typically capped)For fixed price contracts, revenue is recognised based on the transaction price stated in the contract, and thus require limited judgement from management.For cost-plus contracts, including variations e.g. with a cap, ISS\u2019s transaction price is determined based on costs incurred with the addition of an agreed markup/management fee. Determining the transaction price requires management to assess, which costs may be included in the calculation basis and if relevant, whether within the capped maximum.For key accounts and other large contracts, the transaction price may also include a variable consideration based on achievement of certain key performance indicators and gain share. Management estimates variable consideration based on the most likely amount to which it expects to be entitled on a contract-by-contract basis. Management makes a de-tailed assessment of the amount of revenue expected to be received and the probability of success in each case. Variable consideration is included in revenue as services are performed to the extent that it is highly probable that the amount will not be subject to significant reversal.Price adjustment mechanisms in our customer con-tracts vary in terms of content and extent. Judgement is required by management to determine the amount of revenue expected to be received as a result of inflationary pressure on costs of delivery. Contract modifications regularly occur, particularly for key account customers, in order to ensure that service solutions reflect their current needs. Such modifications are generally agreed with the customer in advance as per the contract in accordance with a specified change management procedure and accounted for going forward with no impact on recognised revenue up to the date of modification. Management assess how quickly ISS would be able to implement the scope changes of the service.Gross or net presentation of revenue Management uses judgement to determine whether the nature of ISS\u2019s promise is to provide the specified services (ISS is the principal), or to arrange for another party to provide the services (ISS is acting as an agent). This assessment is based on an evaluation of whether ISS controls the specified services before transfer to the customer. The Group has concluded that as a main rule ISS is the principal in its revenue arrangements, because it typically controls the services before transferring them to the customer, and consequently as a main rule recognises revenue on a gross basis.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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},
"s8_notesesefdkgaap__7__31": {
"value": "1.2 Revenue1.2.1 Performance obligations Revenue is generated from rendering of workplace and facility service solutions. Our services are provided at the customer's site on a daily basis continuously over the term of the contract. The customer simultaneously receives and consumes the benefits provided by the Group. Thus, performance obligations are satisfied over time.Revenue is split between portfolio and projects and above-base work, with the vast majority stemming from portfolio revenue, 84% (2022: 82%). (DKKm)2023 2022Portfolio revenue 65,710 60,532 Projects and above-base work 12,971 13,306 Total 78,681 73,838Portfolio revenue comprises revenue from contracts with customers that is contractually agreed (committed) at inception and relates to services that we are obligated to render on a recurring basis over the term of the contract. Revenue from projects and above-base work (e.g. capital projects, events, etc.) is demanded on a non-recurring basis and agreed separately with the customer.1.2.2 Disaggregation of revenue Aligned with our strategy to focus on key accounts in three prioritised segments, where we deliver our core services, we disaggregate revenue based on:\u2022 customer category;\u2022 customer segment;\u2022 core services; and\u2022 geographical regionWe believe that these best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.(DKKm)2023 2022Customer categoryKey accounts 56,253 53,807 Large and medium 18,645 16,406 Small and route-based 3,783 3,625 Total 78,681 73,838 Customer segmentsOffice-based 30,669 29,849 Production-based 18,906 16,985 Healthcare 10,951 9,994 Other 18,155 17,010 Total 78,681 73,838 Core servicesCleaning 33,165 32,801 Technical 18,285 16,574 Food 11,991 10,161 Workplace and other 15,240 14,302 Total 78,681 73,838 Disaggregation of revenue based on geographical region is disclosed in 1.1, Segments.1.2.3 Costs to fulfil a contract The size and complexity of key account contracts often requires ISS to incur significant transition and mobilisation costs before service delivery commences in order to be able to fulfil the performance obligations under the contracts. Transition and mobilisation costs comprise costs, directly related to launching certain large long-term contracts such as transfer of employ-ees from previous suppliers, site due diligence, planning and developing service plans. The cost includes internal direct costs and external costs, e.g. to consultants.At 31 December 2023, capitalised transition and mobilisation costs amounted to DKK 42 million (2022: DKK 36 million). The increase in 2023 was due to ongoing mobilisation activities for a new contract in the UK, partly offset by ordinary amortisation, mainly in Denmark, Sweden and the UK.Capitalised transition and mobilisation costs are presented in 2.2, Other receivables. CustomersCustomer category78.7DKKbn71% Key accounts 24% Large and medium5% Small and route-basedegmentsCustomer segments78.7DKKbn39% Office-based24% Production-based14%Healthcare23% OtherervicesCore services78.7DKKbn42% Cleaning23% Technical15%Food20% Workplace and other1.2.4 Revenue backlog Our revenue base consists of a mix of yearly con-tracts, which are renewed tacitly, and thousands of multi-year contracts, the majority of which have an initial term of three to five years. Depending on the size and complexity of the contract, the transition and mobilisation period is normally between six and twelve months for our key accounts. Contracts regularly include options for the customer to terminate for convenience within three to nine months. However, we maintain a high retention rate of 95%, both for key accounts and overall, supporting that these options are rarely exercised.The vast majority of our revenue is portfolio revenue, see 1.2.1, Performance obligations. The remaining part is non-recurring in the form of projects and above-base work, which is not committed as part of the main customer contract and thus, excluded from the revenue backlog. In addition, the Group has excluded contracts with a term of less than 12 months and contracts where the Group invoices a fixed amount for each hour of service provided.As a result, the amounts disclosed in the maturity table is significantly lower than reported revenue and will likely not reflect the degree of certainty in future revenue (and cash inflows) to the Group. As a supplement, in the management review, p. 20, a maturity overview for our largest key accounts (> DKK 200 million of annual revenue) is presented. (DKKm)2023 2022< 1 year 33% 20,793 33% 20,2301-5 years 56% 35,356 55% 33,237> 5 years 11% 7,463 12% 7,352Total100% 63,612 100% 60,819Accounting policyRevenue from contracts with customers is recog-nised when control of the services is transferred to the customer. Control is transferred over time as the customer simultaneously receives and consumes the benefits provided by the Group.Services are invoiced on a monthly basis at an amount corresponding to the value of the com-pleted performance obligation.The input method is used to measure progress towards complete satisfaction of the service due to the direct relationship between labour hours and costs incurred, and the transfer of services to the customer. The Group recognises revenue on the basis of the labour hours and costs expensed relative to the total expected labour hours and costs to complete the service. Significant accounting estimates and judgementsOur customer contracts are based on three different commercial models requiring varying levels of man-agement estimates and judgement in determining the transaction price: 1) Fixed price contracts;2) Cost-plus contracts; and3) Cost-plus variations (typically capped)For fixed price contracts, revenue is recognised based on the transaction price stated in the contract, and thus require limited judgement from management.For cost-plus contracts, including variations e.g. with a cap, ISS\u2019s transaction price is determined based on costs incurred with the addition of an agreed markup/management fee. Determining the transaction price requires management to assess, which costs may be included in the calculation basis and if relevant, whether within the capped maximum.For key accounts and other large contracts, the transaction price may also include a variable consideration based on achievement of certain key performance indicators and gain share. Management estimates variable consideration based on the most likely amount to which it expects to be entitled on a contract-by-contract basis. Management makes a de-tailed assessment of the amount of revenue expected to be received and the probability of success in each case. Variable consideration is included in revenue as services are performed to the extent that it is highly probable that the amount will not be subject to significant reversal.Price adjustment mechanisms in our customer con-tracts vary in terms of content and extent. Judgement is required by management to determine the amount of revenue expected to be received as a result of inflationary pressure on costs of delivery. Contract modifications regularly occur, particularly for key account customers, in order to ensure that service solutions reflect their current needs. Such modifications are generally agreed with the customer in advance as per the contract in accordance with a specified change management procedure and accounted for going forward with no impact on recognised revenue up to the date of modification. Management assess how quickly ISS would be able to implement the scope changes of the service.Gross or net presentation of revenue Management uses judgement to determine whether the nature of ISS\u2019s promise is to provide the specified services (ISS is the principal), or to arrange for another party to provide the services (ISS is acting as an agent). This assessment is based on an evaluation of whether ISS controls the specified services before transfer to the customer. The Group has concluded that as a main rule ISS is the principal in its revenue arrangements, because it typically controls the services before transferring them to the customer, and consequently as a main rule recognises revenue on a gross basis.",
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"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
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"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__33": {
"value": "Accounting policyRevenue from contracts with customers is recog-nised when control of the services is transferred to the customer. Control is transferred over time as the customer simultaneously receives and consumes the benefits provided by the Group.Services are invoiced on a monthly basis at an amount corresponding to the value of the com-pleted performance obligation.The input method is used to measure progress towards complete satisfaction of the service due to the direct relationship between labour hours and costs incurred, and the transfer of services to the customer. The Group recognises revenue on the basis of the labour hours and costs expensed relative to the total expected labour hours and costs to complete the service.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__38": {
"value": "1.3 Employee costs (DKKm)Note 2023 2022Wages and salaries 39,992 36,756Social security costs 8,141 7,995Pensions 7.1 1,402 1,445Share-based payments 6.2 72 80 Total 49,607 46,276Average number of employees 334,962 337,924Our strategy is based on self-delivery of our core services by our placemakers. Our business model is asset-light and therefore employee costs is our single largest cost category.In 2023, employee costs comprised 66% of thetotal operating costs (2022: 65%).Number of employees At 31 December 2023, total number of employees was 352,749 (2022: 351,053). The number of employees includes both the continuing and dis-continued operations. Once the divestment of France is completed, the number of employees will be reduced with around 15,000 employees.Average number of employees was 334,962 (2022: 337,924). Including France, average num-ber of employees was 349,086 (2022: 352,795).Government grantsIn 2023, the Group recognised government grants of DKK 184 million (2022: DKK 159 million) in the form of wage subventions, which have been recognised as a reduction of em-ployee costs. The grants compensate the Group primarily for social security, wage increases as well as employing certain categories of employees such as trainees, disabled persons, long-term unemployed and employees in certain age groups.In addition, the Group received Covid-19 grants during the pandemic to compensate costs re lated to e.g. employees on furlough, social security contribution and sick pay compen-sation. With the cessation of the pandemic, the grants have gradually lapsed. In 2023, the Group recognised Covid-19-related grants of DKK 18 million, mainly in Austria and Hong Kong (2022: DKK 122 million mainly in US, Hong Kong and Sweden).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__37": {
"value": "1.3 Employee costs (DKKm)Note 2023 2022Wages and salaries 39,992 36,756Social security costs 8,141 7,995Pensions 7.1 1,402 1,445Share-based payments 6.2 72 80 Total 49,607 46,276Average number of employees 334,962 337,924Our strategy is based on self-delivery of our core services by our placemakers. Our business model is asset-light and therefore employee costs is our single largest cost category.In 2023, employee costs comprised 66% of thetotal operating costs (2022: 65%).Number of employees At 31 December 2023, total number of employees was 352,749 (2022: 351,053). The number of employees includes both the continuing and dis-continued operations. Once the divestment of France is completed, the number of employees will be reduced with around 15,000 employees.Average number of employees was 334,962 (2022: 337,924). Including France, average num-ber of employees was 349,086 (2022: 352,795).Government grantsIn 2023, the Group recognised government grants of DKK 184 million (2022: DKK 159 million) in the form of wage subventions, which have been recognised as a reduction of em-ployee costs. The grants compensate the Group primarily for social security, wage increases as well as employing certain categories of employees such as trainees, disabled persons, long-term unemployed and employees in certain age groups.In addition, the Group received Covid-19 grants during the pandemic to compensate costs re lated to e.g. employees on furlough, social security contribution and sick pay compen-sation. With the cessation of the pandemic, the grants have gradually lapsed. In 2023, the Group recognised Covid-19-related grants of DKK 18 million, mainly in Austria and Hong Kong (2022: DKK 122 million mainly in US, Hong Kong and Sweden).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__34-1": {
"value": "1.3 Employee costs (DKKm)Note 2023 2022Wages and salaries 39,992 36,756Social security costs 8,141 7,995Pensions 7.1 1,402 1,445Share-based payments 6.2 72 80 Total 49,607 46,276Average number of employees 334,962 337,924Our strategy is based on self-delivery of our core services by our placemakers. Our business model is asset-light and therefore employee costs is our single largest cost category.In 2023, employee costs comprised 66% of thetotal operating costs (2022: 65%).Number of employees At 31 December 2023, total number of employees was 352,749 (2022: 351,053). The number of employees includes both the continuing and dis-continued operations. Once the divestment of France is completed, the number of employees will be reduced with around 15,000 employees.Average number of employees was 334,962 (2022: 337,924). Including France, average num-ber of employees was 349,086 (2022: 352,795).Government grantsIn 2023, the Group recognised government grants of DKK 184 million (2022: DKK 159 million) in the form of wage subventions, which have been recognised as a reduction of em-ployee costs. The grants compensate the Group primarily for social security, wage increases as well as employing certain categories of employees such as trainees, disabled persons, long-term unemployed and employees in certain age groups.In addition, the Group received Covid-19 grants during the pandemic to compensate costs re lated to e.g. employees on furlough, social security contribution and sick pay compen-sation. With the cessation of the pandemic, the grants have gradually lapsed. In 2023, the Group recognised Covid-19-related grants of DKK 18 million, mainly in Austria and Hong Kong (2022: DKK 122 million mainly in US, Hong Kong and Sweden).7.1 Pensions and similar obligations7.1.1 Pension schemes The Group has a significant number of pension schemes with different characteristics. The ma-jority of the schemes are defined contribution plans, but in a number of countries, the Group is also party to defined benefit plans. Defined contribution plans These are pension schemes where contributions are paid to publicly or privately administered pension plans. The Group has no further payment obligations once the contributions have been paid. In 2023, contributions amounted to DKK 1,161 million (2022: DKK 1,223 million), or 83% of the Group\u2019s pension costs (2022: 84%). Defined benefit plans Under these schemes the obligation towards the employees as well as the risk associated with future developments in salary, interest rate, inflation, mortality, etc. rests with the Group. The plans are primarily based on years of service, and benefits are determined on the basis of salary and position. The largest plans are in Switzerland and the UK accounting for 87% (2022: 86%) of the Group\u2019s obligation (gross) and 98% (2022: 97%) of its plan assets.The majority of the obligations are funded with assets placed in independent pension funds. In some countries, primarily Sweden, France, T\u00fcrkiye, Hong Kong and Mexico, the obligation is unfunded. For unfunded plans, the obligation amounted to DKK 665 million or 8% of the present value of the total gross obligation (2022: DKK 633 million or 8%). Multiemployer pension plans In a few countries, the Group participates in mul-tiemployer pension schemes that by nature are defined benefit plans. Some funds are not able to provide the necessary information in order for the Group to account for the schemes as defined benefit plans and these schemes are therefore accounted for as defined contribution plans. 7.1.2 Major defined benefit plansSwitzerland Participants are insured against the financial consequences of:\u2022 retirement;\u2022 disability; and \u2022 deathThe pension plans guarantee a minimum interest credit and fixed conversion rates at retirement and include a risk-sharing element between ISS and the plan participants.Contributions are paid by both ISS and the employees and the plans must be fully funded. In case of underfunding, recovery measures must be taken, such as additional financing from ISS or from ISS and the employees, reduction of benefits or a combination of both.The UK Participants are insured against the financial consequences of:\u2022 retirement; and \u2022 deathThe pension plans guarantee a defined benefit pension at retirement on a final salary basis, but do not provide any insured disability benefits. The majority of the plans does not include a risk-shar-ing element between ISS and the plan participants. costsPension costs1.4DKKbn83%Defined contribution17% Defined benefitobligation, Penross\u2013 funded vs. unfunded8.8DKKbn92%Funded8%UnfundedPension obligation, gross \u2013 by country8.8DKKbn77%Switzerland10%UK13%Other7.1.3 Defined benefit plans (carrying amounts)2023 2022Present Fair value Present Fair value value of of plan Carrying value of of plan Carrying (DKKm)obligationassetsamountobligationassetsamountAt 1 January 7,953 8,663 (710) 8,625 8,997 (372)Current service costs199 - 199 197 - 197 Interest on obligation/plan assets 257 233 24 72 55 17 Past service costs 18 - 18 11 - 11 Recognised in profit or loss 474 233 241 280 55 225 Remeasurement (gain)/loss: Demographic assumptions (7) - (7) 7 - 7 Financial assumptions 399 - 399 (1,702) - (1,702) Experience adjustments 90 - 90 490 - 490 Return on plan assets - 20 (20) - (997) 997 Asset ceiling - 299 (299) - (43) 43 Recognised in other comprehensive income 482 319 163 (1,205) (1,040) (165)Foreign exchange adjustments 328 501 (173) 214 295 (81)Acquisitions and divestments, net - - - 227 219 8 Employee contributions 173 173 - 154 154 - Employer contributions - 260 (260) - 207 (207)Benefits paid (605) (512) (93) (342) (267) (75)Asset ceiling - (299) 299 - 43 (43)Reclass to Liabilities held for sale (50) - (50) - - - Other changes (154) 123 (277) 253 651 (398)At 31 December 8,755 9,338 (583) 7,953 8,663 (710)Recognised in the statement of financial position (DKKm) 2023 2022Carrying amount of defined benefit plans (583) (710)1)Accumulated impact from asset ceiling 1,172 1,352 2)Defined benefit obligation, net 589 642 Other long-term employee benefits 546 543 Pensions and similar obligations 1,135 1,185 1) Including a foreign exchange adjustment on the opening balance of DKK 119 million (2022: DKK 56 million).2) Including an asset of DKK 326 million (2022: DKK 247 million) related to defined benefit plans in the UK. Development in 2023 In 2023, actuarial calculations led to recognition of actuarial losses due to decreased discount rates (financial assumptions) of DKK 399 million, mainly in Switzerland. This was partly offset by a positive return on plan assets of DKK 20 million and a decrease in the asset ceiling of DKK 299 million, primarily related to Switzerland and the UK. The net impact on the pension obligation from actuarial calculations was a loss of DKK 163 million recognised in other comprehensive income. In recent years, we have experienced strong asset returns and actuarial gains, which led to a significant surplus on the major plans in Swit-zerland and the UK. Due to surplus restrictions (ISS does not have access to the overfunding), a significant asset ceiling has been recognised in prior years.In 2023, market conditions for our plan assets including listed shares, bonds, and real estate improved compared to 2022, resulting in a gain on plan assets in Switzerland and the UK. Due to a larger increase in the pension obligation (gross) the asset ceiling decreased by DKK 299 million. As such, by the end of 2023, the accumulated impact from the asset ceiling was DKK 1,172 million (2022: DKK 1,352 million).Contributions in 2023 In 2023, the Group contributed DKK 353 million to defined benefit plans (2022: DKK 283 million). The Group expects to contribute DKK 352 million in 2024.categories of Plan assets an assets\u2013 major categories9.3DKKbn31% Listed shares25% Corporate bonds 19% Property3% Government bonds3%Cash and cash equivalents19% Other% of total plan assets7.1.4 Actuarial assumptions2023 2022Other Other CHF GBP EURcurrencies CHF GBP EURcurrenciesDiscount rates 1.5% 4.5% 3.3-4.3% 5.7-26.6% 2.3% 4.8 % 3.7-3.8% 1.0-10.7% Salary increase 1.1% 0.0-3.1% 0.0-3.6% 3.0-24.3% 1.3% 0.0-2.7% 2.6-3.2% 0.0-12.0% Pension increase 0.0% 2.6-3.0% 0.0-2.8% 0.0-1.8% 0.0% 2.7-3.2% 0.0-2.2% 0.0-2.2% Sensitivity analysis The sensitivities related to significant actuarial assumptions used in the calculation of thedefined benefit obligation in terms of estimat-ed increase/(decrease) in the obligation are illustrated below. The analysis is based on changes in assump-tions, with all other variables held constant, that the Group considered to be reasonably possible at the reporting date. 2023 2022(DKKm)+0.5%(0.5)% +0.5%(0.5)%Discount rate(376) 409 (334) 363 Price inflation 64 (55) 74 (65)Salary increase 76 (76) 93 (74)Pension increase 241 (236) 248 (248)+1 year -1 year +1 year -1 yearLife expectancy 147 (144) 136 (133)Duration The estimated weighted average duration of the defined benefit obligation was 9 years (2022: 9 years) and is split into: (Years)2023 2022Active employees 8 6 Retired employees 12 11 1)Deferred vested 15 7 Total employees 9 9 1) The impact from deferred vested on total estimated weighted average duration is minor due to the fact that deferred vested make up less than 2% of the participants, and do not exist in many of the shorter duration plans. Significant accounting estimatesActuarial calculations and valuations are performed annually for all major plans. The present value of defined benefit obligations is determined based on assumptions about the future development in vari-ables such as salary levels, interest rates, inflation and mortality. Applied assumptions vary from country to country due to local conditions. All assumptions are assessed at the reporting date.The discount rates used for calculating the present value of expected future cash flows are based on the market yield of high-quality corporate bonds or government bonds with a maturity approximating to the terms of the defined benefit obligations.When the Group participates in multi-employer pen-sion plans being accounted for as defined contribu-tion plans due to unavailability of information, there is a risk that the plans are not sufficiently funded. However, information on surplus or deficit in the schemes is not available.Accounting policyContributions to defined contribution plans are recognised in Employee costs when the related service is provided. Defined benefit plans The Group\u2019s net obligation is calculated by a qualified actuary using the projected unit credit method, separately for each plan by estimating the amount of future benefits that em-ployees have earned in return for their service in the current and prior periods. The present value less the fair value of plan assets is recognised in Pensions and similar obligations. When the calculation results in a potential asset, recognition is limited to the present value of economic benefits available in the form of future refunds from or reductions in future contributions to the plan. To calculate the present value, consideration is given to applicable minimum funding requirements.Pension costs are calculated based on actuarial esti-mates and financial expectations at the beginning of the year. Service costs are recognised in Employee costs and net interest is recognised in Financial expenses.Remeasurements (actuarial gains/losses), compris-ing the differences between the expected devel-opment in pension assets and liabilities and the realised amounts at the reporting date as well as the effect of asset ceiling are recognised in other comprehensive income.When the benefits are changed or a plan is curtailed, the resulting change in benefits that relates to past service or the gain or loss on curtailment is recognised in Employee costs. Gains and losses on settlement are recognised when incurred.The aggregated value of unfunded plans is pre-sented as a net liability and the aggregated value of funded plans are presented as a net asset.Other long-term employee benefits are calculated as defined pension plans, except that actuarial gains and losses are recognised in Employee costs. Other long-term employee benefits comprise jubilee bene-fits, long-service or sabbatical leave, etc.",
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"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__40": {
"value": "Accounting policyOther income and expenses, net consists of recurring and non-recurring items that manage-ment does not consider to be part of the Group\u2019s ordinary operating activities, i.e. gains and losses on divestments, remeasurement of disposal groups classified as held for sale, the winding-up of operations, disposal of property and acquisition and integration costs.Other income and expenses, net are presented separately from the Group's ordinary operating activities as management believes that this best reflects the Group's financial performance.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__39": {
"value": "1.4 Other income and expenses, net (DKKm)2023 2022Gain on divestments 14 204 Other income 14 204 Loss on divestments (32) (124)Integration costs(8) (7)Acquisition costs(8)(4)Other(59) (14)Other expenses(107) (149)Other income and expenses, net(93) 55 Gain on divestments mainly related to the land-scaping and the sanitation services businesses in Singapore. In 2022, the gain mainly related to the waste management business in Hong Kong and the damage control business in the UK.Loss on divestments mainly related to the security and the technical services businesses in Spain. In 2022, the loss comprised a withdrawal liability on a multiemployer plan in the US related to the divestment of Specialized Services in December 2021.Integration costs related to the acquisition of Grupo Fissa in Spain and Livit FM Services AG in Switzerland (2022: Livit FM Services AG).Acquisition costs mainly related to the acqui-sition of Grupo Fissa in Spain (2022: Livit FM Services AG).Other comprised a fair value adjustment of a contingent consideration associated with the transaction in T\u00fcrkiye in 2021. In 2022, the loss comprised costs related to winding-up of a minor business in Germany.Accounting policyOther income and expenses, net consists of recurring and non-recurring items that manage-ment does not consider to be part of the Group\u2019s ordinary operating activities, i.e. gains and losses on divestments, remeasurement of disposal groups classified as held for sale, the winding-up of operations, disposal of property and acquisition and integration costs.Other income and expenses, net are presented separately from the Group's ordinary operating activities as management believes that this best reflects the Group's financial performance.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__43-1": {
"value": "2.1 Trade receivables and credit risk 2023 2022ExpectedCarrying ExpectedCarrying (DKKm)Grosscredit lossesamount Grosscredit lossesamountCentral & Southern Europe 4,481 (30) 4,451 4,553 (50) 4,503 Northern Europe 3,632 (59) 3,573 3,218 (24) 3,194 Asia & Pacific 2,072 (30) 2,042 2,072 (38) 2,034 Americas 1,194 (8) 1,186 1,171 (12) 1,159 Other countries 102 - 102 106 - 106 Total 11,481 (127) 11,354 11,120 (124) 10,996 Not past due 10,148 (1) 10,147 9,762 (6) 9,756 Past due 1 to 60 days 878 (2) 876 1,073 (4) 1,069 Past due 61 to 180 days 220 (40) 180 179 (14) 165 Past due 181 to 360 days 113 (28) 85 22 (20) 2 More than 360 days 122 (56) 66 84 (80) 4 Total 11,481 (127) 11,354 11,120 (124) 10,996 Expected credit losses (DKKm)2023 2022At 1 January(124) (162)Foreign exchange adjustments 4 6 (Acquisitions)/Divestments(5) 2 Additions(86) (59)Unused amounts reversed 52 74 Unrecoverable amounts written off 18 15 Reclass to Assets held for sale 14 - At 31 December(127) (124)Development in 2023 In 2023, trade receivables increased to DKK 11,354 million (2022: DKK 10,996 million) generally as a result of high organic growth driven by implemented price increases and high activity levels at customer sites across the Group. Furthermore, the increase was driven by T\u00fcrkiye, where payment cycles are longer than Group average, and by adverse timing effects of certain payments relating to contractual disputes.Commercial use of factoring with certain large key account customers and participation in certain customers' supply chain finance arrange-ments was DKK 1.4 billion (2022: DKK 1.3 billion) at 31 December 2023.Expected credit losses comprised 1.1% (2022: 1.1%) of trade receivables (gross) and trade receivables not past due was 89% of trade receivables, net (2022: 89%).Exposure to credit risk \u2013 low exposureThe Group\u2019s exposure to credit risk is inherently low due to its business model and strategic choices leading to a diver-sified customer portfolio, both in terms of geography, industry sector, customer size and services.Risk managementExposure to credit risk and expected credit losses are managed locally in the operating entities.We have a strong ongoing assessment and monitoring of customers' creditworthiness and the credit limits are set as deemed appropriate taking into account the cus-tomer\u2019s financial position and the current market conditions. In 2023, we continued to manage inflation rates tightly through price increases. The vast majority of cost increases were passed on to customers as per the agreed contrac-tual terms with no increase in credit losses. Generally, the Group does not hold collate-ral as security for trade receivables.Accounting policyTrade receivables comprise invoiced and unbilled revenue. Unbilled revenue represents service deliveries where the performance obligation has been fulfilled, but not yet invoiced. Trade receiv-ables are recognised at the invoiced amount less expected credit losses, which equals amortised costs due to their short term nature.Expected credit losses are calculated using a provision matrix. The provision rates are based on days past due for grouping of customers with similar loss patterns, e.g. by geographical region, customer type and rating. The calculation reflects reasonable and supportable information about past events, current conditions and forecasts of future economic conditions. Trade receivables are generally written off if they are past due more than 180 days or when there is no reasonable expectation of recovery. Write-offs are presented in Other operating expenses. Subsequent recovery of write-offs or reversal of expected credit losses are credited against the same line item. Factoring and participation in customers\u2019 supply chain finance arrangements (factoring) are mainly used to optimise cash collection and to finance working capital impacts related to growth with certain key account customers, including from general pressure for longer payment terms and necessary investments in transition and mobilisa-tion of such contracts. Trade receivables subject to factoring agreements are derecognised once the derecognition criteria have been met and all substantial risks and rewards have been trans-ferred to the factor. Once the trade receivables have been derecognised, the Group does not carry any risk and has no continuing involvement in these trade receivables.2.2 Other receivables (DKKm)2023 2022Supplier rebates and bonuses 434 424 Prepayments to suppliers 379 392 Securities 117 104 Receivable divestment proceeds 114 114 Sign-on fees 98 110 Transition and mobilisation costs 42 36 Government grants 23 103 Derivatives 24 50 Other 397 362 Total 1,628 1,695 Supplier rebates and bonuses comprised volumerelated discounts obtained from suppliers and reflects the Group\u2019s efforts to consolidate the number of suppliers and drive synergies and cost savings.Prepayments to suppliers comprised various payments mainly related to IT licences, utilities and insurance.Securities related to a savings plan in the US administered by ISS on behalf of certain senior employees.Receivable divestment proceeds mainly related to the divestment of Specialized Services in the USwhere part of the consideration is deferred.Sign-on fees comprised upfront discounts to certain large customers incurred in the normal course of business, most significantly in the UK and on certain global key accounts.Significant accounting judgementsTransition and mobilisation costs (costs to fulfil a contract) comprise costs directly related to start-up of operations of certain large contracts, e.g. transfer of employees from previous suppliers, site due diligence, planning and developing ser-vice plans. The costs include internal direct costs and external costs e.g. to consultants.Capitalisation of transition and mobilisation costs involves management\u2019s judgement to assess if the criteria for capitalisation are fulfilled, including determining if the costs relate directly to the con-tract and are incurred in order for ISS to be able to fulfil the contract. In addition, management de-termines if the costs generate resources that will be used in satisfying the performance obligations and are expected to be recovered, i.e. reflected in the pricing of the contracts. Bid-related costs, including costs relating to sales work and securing contracts, are expensed as incurred.Transition and mobilisation costs comprised costs to fulfil the performance obligation under certain large contracts, see 1.2.3, Costs to fulfil a contract. The increase in 2023 was due to ongoing mobilisation activities for a new contract in the UK, partly offset by ordinary amortisation, mainly in Denmark, Sweden and the UK.Government grants related to various receiv-ables, mainly wage subventions in Spain.Other comprised refunds from customers, accrued interest, VAT, employee-related taxes and other recoverable amounts.Accounting policyOther receivables comprise various items of different nature and thus different measurement methods are applied. As these items are consid-ered individually immaterial, they are presented together as Other receivables.Except for the items described below, other receivables are recognised initially at cost and subsequently at amortised cost. Due to the short-term nature of other receivables, amortised cost will equal the cost.Sign-on fees and transition and mobilisation costs are capitalised and amortised over the initial secured contract term consistent with ISS\u2019s transfer of the related services to the customer.Securities and derivatives are measured at fair value with fair value adjustments being recognised in profit or loss. The fair value of deriv-atives is presented in Other receivables when the fair value is positive and in Other liabilities when the fair value is negative.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__42": {
"value": "2.1 Trade receivables and credit risk 2023 2022ExpectedCarrying ExpectedCarrying (DKKm)Grosscredit lossesamount Grosscredit lossesamountCentral & Southern Europe 4,481 (30) 4,451 4,553 (50) 4,503 Northern Europe 3,632 (59) 3,573 3,218 (24) 3,194 Asia & Pacific 2,072 (30) 2,042 2,072 (38) 2,034 Americas 1,194 (8) 1,186 1,171 (12) 1,159 Other countries 102 - 102 106 - 106 Total 11,481 (127) 11,354 11,120 (124) 10,996 Not past due 10,148 (1) 10,147 9,762 (6) 9,756 Past due 1 to 60 days 878 (2) 876 1,073 (4) 1,069 Past due 61 to 180 days 220 (40) 180 179 (14) 165 Past due 181 to 360 days 113 (28) 85 22 (20) 2 More than 360 days 122 (56) 66 84 (80) 4 Total 11,481 (127) 11,354 11,120 (124) 10,996 Expected credit losses (DKKm)2023 2022At 1 January(124) (162)Foreign exchange adjustments 4 6 (Acquisitions)/Divestments(5) 2 Additions(86) (59)Unused amounts reversed 52 74 Unrecoverable amounts written off 18 15 Reclass to Assets held for sale 14 - At 31 December(127) (124)Development in 2023 In 2023, trade receivables increased to DKK 11,354 million (2022: DKK 10,996 million) generally as a result of high organic growth driven by implemented price increases and high activity levels at customer sites across the Group. Furthermore, the increase was driven by T\u00fcrkiye, where payment cycles are longer than Group average, and by adverse timing effects of certain payments relating to contractual disputes.Commercial use of factoring with certain large key account customers and participation in certain customers' supply chain finance arrange-ments was DKK 1.4 billion (2022: DKK 1.3 billion) at 31 December 2023.Expected credit losses comprised 1.1% (2022: 1.1%) of trade receivables (gross) and trade receivables not past due was 89% of trade receivables, net (2022: 89%).Exposure to credit risk \u2013 low exposureThe Group\u2019s exposure to credit risk is inherently low due to its business model and strategic choices leading to a diver-sified customer portfolio, both in terms of geography, industry sector, customer size and services.Risk managementExposure to credit risk and expected credit losses are managed locally in the operating entities.We have a strong ongoing assessment and monitoring of customers' creditworthiness and the credit limits are set as deemed appropriate taking into account the cus-tomer\u2019s financial position and the current market conditions. In 2023, we continued to manage inflation rates tightly through price increases. The vast majority of cost increases were passed on to customers as per the agreed contrac-tual terms with no increase in credit losses. Generally, the Group does not hold collate-ral as security for trade receivables.Accounting policyTrade receivables comprise invoiced and unbilled revenue. Unbilled revenue represents service deliveries where the performance obligation has been fulfilled, but not yet invoiced. Trade receiv-ables are recognised at the invoiced amount less expected credit losses, which equals amortised costs due to their short term nature.Expected credit losses are calculated using a provision matrix. The provision rates are based on days past due for grouping of customers with similar loss patterns, e.g. by geographical region, customer type and rating. The calculation reflects reasonable and supportable information about past events, current conditions and forecasts of future economic conditions. Trade receivables are generally written off if they are past due more than 180 days or when there is no reasonable expectation of recovery. Write-offs are presented in Other operating expenses. Subsequent recovery of write-offs or reversal of expected credit losses are credited against the same line item. Factoring and participation in customers\u2019 supply chain finance arrangements (factoring) are mainly used to optimise cash collection and to finance working capital impacts related to growth with certain key account customers, including from general pressure for longer payment terms and necessary investments in transition and mobilisa-tion of such contracts. Trade receivables subject to factoring agreements are derecognised once the derecognition criteria have been met and all substantial risks and rewards have been trans-ferred to the factor. Once the trade receivables have been derecognised, the Group does not carry any risk and has no continuing involvement in these trade receivables.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__41": {
"value": "2.1 Trade receivables and credit risk 2023 2022ExpectedCarrying ExpectedCarrying (DKKm)Grosscredit lossesamount Grosscredit lossesamountCentral & Southern Europe 4,481 (30) 4,451 4,553 (50) 4,503 Northern Europe 3,632 (59) 3,573 3,218 (24) 3,194 Asia & Pacific 2,072 (30) 2,042 2,072 (38) 2,034 Americas 1,194 (8) 1,186 1,171 (12) 1,159 Other countries 102 - 102 106 - 106 Total 11,481 (127) 11,354 11,120 (124) 10,996 Not past due 10,148 (1) 10,147 9,762 (6) 9,756 Past due 1 to 60 days 878 (2) 876 1,073 (4) 1,069 Past due 61 to 180 days 220 (40) 180 179 (14) 165 Past due 181 to 360 days 113 (28) 85 22 (20) 2 More than 360 days 122 (56) 66 84 (80) 4 Total 11,481 (127) 11,354 11,120 (124) 10,996 Expected credit losses (DKKm)2023 2022At 1 January(124) (162)Foreign exchange adjustments 4 6 (Acquisitions)/Divestments(5) 2 Additions(86) (59)Unused amounts reversed 52 74 Unrecoverable amounts written off 18 15 Reclass to Assets held for sale 14 - At 31 December(127) (124)Development in 2023 In 2023, trade receivables increased to DKK 11,354 million (2022: DKK 10,996 million) generally as a result of high organic growth driven by implemented price increases and high activity levels at customer sites across the Group. Furthermore, the increase was driven by T\u00fcrkiye, where payment cycles are longer than Group average, and by adverse timing effects of certain payments relating to contractual disputes.Commercial use of factoring with certain large key account customers and participation in certain customers' supply chain finance arrange-ments was DKK 1.4 billion (2022: DKK 1.3 billion) at 31 December 2023.Expected credit losses comprised 1.1% (2022: 1.1%) of trade receivables (gross) and trade receivables not past due was 89% of trade receivables, net (2022: 89%).Exposure to credit risk \u2013 low exposureThe Group\u2019s exposure to credit risk is inherently low due to its business model and strategic choices leading to a diver-sified customer portfolio, both in terms of geography, industry sector, customer size and services.Risk managementExposure to credit risk and expected credit losses are managed locally in the operating entities.We have a strong ongoing assessment and monitoring of customers' creditworthiness and the credit limits are set as deemed appropriate taking into account the cus-tomer\u2019s financial position and the current market conditions. In 2023, we continued to manage inflation rates tightly through price increases. The vast majority of cost increases were passed on to customers as per the agreed contrac-tual terms with no increase in credit losses. Generally, the Group does not hold collate-ral as security for trade receivables.Accounting policyTrade receivables comprise invoiced and unbilled revenue. Unbilled revenue represents service deliveries where the performance obligation has been fulfilled, but not yet invoiced. Trade receiv-ables are recognised at the invoiced amount less expected credit losses, which equals amortised costs due to their short term nature.Expected credit losses are calculated using a provision matrix. The provision rates are based on days past due for grouping of customers with similar loss patterns, e.g. by geographical region, customer type and rating. The calculation reflects reasonable and supportable information about past events, current conditions and forecasts of future economic conditions. Trade receivables are generally written off if they are past due more than 180 days or when there is no reasonable expectation of recovery. Write-offs are presented in Other operating expenses. Subsequent recovery of write-offs or reversal of expected credit losses are credited against the same line item. Factoring and participation in customers\u2019 supply chain finance arrangements (factoring) are mainly used to optimise cash collection and to finance working capital impacts related to growth with certain key account customers, including from general pressure for longer payment terms and necessary investments in transition and mobilisa-tion of such contracts. Trade receivables subject to factoring agreements are derecognised once the derecognition criteria have been met and all substantial risks and rewards have been trans-ferred to the factor. Once the trade receivables have been derecognised, the Group does not carry any risk and has no continuing involvement in these trade receivables.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__47": {
"value": "Accounting policyTrade receivables comprise invoiced and unbilled revenue. Unbilled revenue represents service deliveries where the performance obligation has been fulfilled, but not yet invoiced. Trade receiv-ables are recognised at the invoiced amount less expected credit losses, which equals amortised costs due to their short term nature.Expected credit losses are calculated using a provision matrix. The provision rates are based on days past due for grouping of customers with similar loss patterns, e.g. by geographical region, customer type and rating. The calculation reflects reasonable and supportable information about past events, current conditions and forecasts of future economic conditions. Trade receivables are generally written off if they are past due more than 180 days or when there is no reasonable expectation of recovery. Write-offs are presented in Other operating expenses. Subsequent recovery of write-offs or reversal of expected credit losses are credited against the same line item. Factoring and participation in customers\u2019 supply chain finance arrangements (factoring) are mainly used to optimise cash collection and to finance working capital impacts related to growth with certain key account customers, including from general pressure for longer payment terms and necessary investments in transition and mobilisa-tion of such contracts. Trade receivables subject to factoring agreements are derecognised once the derecognition criteria have been met and all substantial risks and rewards have been trans-ferred to the factor. Once the trade receivables have been derecognised, the Group does not carry any risk and has no continuing involvement in these trade receivables.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__46": {
"value": "Accounting policyTrade receivables comprise invoiced and unbilled revenue. Unbilled revenue represents service deliveries where the performance obligation has been fulfilled, but not yet invoiced. Trade receiv-ables are recognised at the invoiced amount less expected credit losses, which equals amortised costs due to their short term nature.Expected credit losses are calculated using a provision matrix. The provision rates are based on days past due for grouping of customers with similar loss patterns, e.g. by geographical region, customer type and rating. The calculation reflects reasonable and supportable information about past events, current conditions and forecasts of future economic conditions. Trade receivables are generally written off if they are past due more than 180 days or when there is no reasonable expectation of recovery. Write-offs are presented in Other operating expenses. Subsequent recovery of write-offs or reversal of expected credit losses are credited against the same line item. Factoring and participation in customers\u2019 supply chain finance arrangements (factoring) are mainly used to optimise cash collection and to finance working capital impacts related to growth with certain key account customers, including from general pressure for longer payment terms and necessary investments in transition and mobilisa-tion of such contracts. Trade receivables subject to factoring agreements are derecognised once the derecognition criteria have been met and all substantial risks and rewards have been trans-ferred to the factor. Once the trade receivables have been derecognised, the Group does not carry any risk and has no continuing involvement in these trade receivables.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__45-1": {
"value": "Accounting policyTrade receivables comprise invoiced and unbilled revenue. Unbilled revenue represents service deliveries where the performance obligation has been fulfilled, but not yet invoiced. Trade receiv-ables are recognised at the invoiced amount less expected credit losses, which equals amortised costs due to their short term nature.Expected credit losses are calculated using a provision matrix. The provision rates are based on days past due for grouping of customers with similar loss patterns, e.g. by geographical region, customer type and rating. The calculation reflects reasonable and supportable information about past events, current conditions and forecasts of future economic conditions. Trade receivables are generally written off if they are past due more than 180 days or when there is no reasonable expectation of recovery. Write-offs are presented in Other operating expenses. Subsequent recovery of write-offs or reversal of expected credit losses are credited against the same line item. Factoring and participation in customers\u2019 supply chain finance arrangements (factoring) are mainly used to optimise cash collection and to finance working capital impacts related to growth with certain key account customers, including from general pressure for longer payment terms and necessary investments in transition and mobilisa-tion of such contracts. Trade receivables subject to factoring agreements are derecognised once the derecognition criteria have been met and all substantial risks and rewards have been trans-ferred to the factor. Once the trade receivables have been derecognised, the Group does not carry any risk and has no continuing involvement in these trade receivables.Accounting policyOther receivables comprise various items of different nature and thus different measurement methods are applied. As these items are consid-ered individually immaterial, they are presented together as Other receivables.Except for the items described below, other receivables are recognised initially at cost and subsequently at amortised cost. Due to the short-term nature of other receivables, amortised cost will equal the cost.Sign-on fees and transition and mobilisation costs are capitalised and amortised over the initial secured contract term consistent with ISS\u2019s transfer of the related services to the customer.Securities and derivatives are measured at fair value with fair value adjustments being recognised in profit or loss. The fair value of deriv-atives is presented in Other receivables when the fair value is positive and in Other liabilities when the fair value is negative.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__50": {
"value": "2.2 Other receivables (DKKm)2023 2022Supplier rebates and bonuses 434 424 Prepayments to suppliers 379 392 Securities 117 104 Receivable divestment proceeds 114 114 Sign-on fees 98 110 Transition and mobilisation costs 42 36 Government grants 23 103 Derivatives 24 50 Other 397 362 Total 1,628 1,695 Supplier rebates and bonuses comprised volumerelated discounts obtained from suppliers and reflects the Group\u2019s efforts to consolidate the number of suppliers and drive synergies and cost savings.Prepayments to suppliers comprised various payments mainly related to IT licences, utilities and insurance.Securities related to a savings plan in the US administered by ISS on behalf of certain senior employees.Receivable divestment proceeds mainly related to the divestment of Specialized Services in the USwhere part of the consideration is deferred.Sign-on fees comprised upfront discounts to certain large customers incurred in the normal course of business, most significantly in the UK and on certain global key accounts.Significant accounting judgementsTransition and mobilisation costs (costs to fulfil a contract) comprise costs directly related to start-up of operations of certain large contracts, e.g. transfer of employees from previous suppliers, site due diligence, planning and developing ser-vice plans. The costs include internal direct costs and external costs e.g. to consultants.Capitalisation of transition and mobilisation costs involves management\u2019s judgement to assess if the criteria for capitalisation are fulfilled, including determining if the costs relate directly to the con-tract and are incurred in order for ISS to be able to fulfil the contract. In addition, management de-termines if the costs generate resources that will be used in satisfying the performance obligations and are expected to be recovered, i.e. reflected in the pricing of the contracts. Bid-related costs, including costs relating to sales work and securing contracts, are expensed as incurred.Transition and mobilisation costs comprised costs to fulfil the performance obligation under certain large contracts, see 1.2.3, Costs to fulfil a contract. The increase in 2023 was due to ongoing mobilisation activities for a new contract in the UK, partly offset by ordinary amortisation, mainly in Denmark, Sweden and the UK.Government grants related to various receiv-ables, mainly wage subventions in Spain.Other comprised refunds from customers, accrued interest, VAT, employee-related taxes and other recoverable amounts.Accounting policyOther receivables comprise various items of different nature and thus different measurement methods are applied. As these items are consid-ered individually immaterial, they are presented together as Other receivables.Except for the items described below, other receivables are recognised initially at cost and subsequently at amortised cost. Due to the short-term nature of other receivables, amortised cost will equal the cost.Sign-on fees and transition and mobilisation costs are capitalised and amortised over the initial secured contract term consistent with ISS\u2019s transfer of the related services to the customer.Securities and derivatives are measured at fair value with fair value adjustments being recognised in profit or loss. The fair value of deriv-atives is presented in Other receivables when the fair value is positive and in Other liabilities when the fair value is negative.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__49": {
"value": "2.2 Other receivables (DKKm)2023 2022Supplier rebates and bonuses 434 424 Prepayments to suppliers 379 392 Securities 117 104 Receivable divestment proceeds 114 114 Sign-on fees 98 110 Transition and mobilisation costs 42 36 Government grants 23 103 Derivatives 24 50 Other 397 362 Total 1,628 1,695 Supplier rebates and bonuses comprised volumerelated discounts obtained from suppliers and reflects the Group\u2019s efforts to consolidate the number of suppliers and drive synergies and cost savings.Prepayments to suppliers comprised various payments mainly related to IT licences, utilities and insurance.Securities related to a savings plan in the US administered by ISS on behalf of certain senior employees.Receivable divestment proceeds mainly related to the divestment of Specialized Services in the USwhere part of the consideration is deferred.Sign-on fees comprised upfront discounts to certain large customers incurred in the normal course of business, most significantly in the UK and on certain global key accounts.Significant accounting judgementsTransition and mobilisation costs (costs to fulfil a contract) comprise costs directly related to start-up of operations of certain large contracts, e.g. transfer of employees from previous suppliers, site due diligence, planning and developing ser-vice plans. The costs include internal direct costs and external costs e.g. to consultants.Capitalisation of transition and mobilisation costs involves management\u2019s judgement to assess if the criteria for capitalisation are fulfilled, including determining if the costs relate directly to the con-tract and are incurred in order for ISS to be able to fulfil the contract. In addition, management de-termines if the costs generate resources that will be used in satisfying the performance obligations and are expected to be recovered, i.e. reflected in the pricing of the contracts. Bid-related costs, including costs relating to sales work and securing contracts, are expensed as incurred.Transition and mobilisation costs comprised costs to fulfil the performance obligation under certain large contracts, see 1.2.3, Costs to fulfil a contract. The increase in 2023 was due to ongoing mobilisation activities for a new contract in the UK, partly offset by ordinary amortisation, mainly in Denmark, Sweden and the UK.Government grants related to various receiv-ables, mainly wage subventions in Spain.Other comprised refunds from customers, accrued interest, VAT, employee-related taxes and other recoverable amounts.Accounting policyOther receivables comprise various items of different nature and thus different measurement methods are applied. As these items are consid-ered individually immaterial, they are presented together as Other receivables.Except for the items described below, other receivables are recognised initially at cost and subsequently at amortised cost. Due to the short-term nature of other receivables, amortised cost will equal the cost.Sign-on fees and transition and mobilisation costs are capitalised and amortised over the initial secured contract term consistent with ISS\u2019s transfer of the related services to the customer.Securities and derivatives are measured at fair value with fair value adjustments being recognised in profit or loss. The fair value of deriv-atives is presented in Other receivables when the fair value is positive and in Other liabilities when the fair value is negative.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__48": {
"value": "2.2 Other receivables (DKKm)2023 2022Supplier rebates and bonuses 434 424 Prepayments to suppliers 379 392 Securities 117 104 Receivable divestment proceeds 114 114 Sign-on fees 98 110 Transition and mobilisation costs 42 36 Government grants 23 103 Derivatives 24 50 Other 397 362 Total 1,628 1,695 Supplier rebates and bonuses comprised volumerelated discounts obtained from suppliers and reflects the Group\u2019s efforts to consolidate the number of suppliers and drive synergies and cost savings.Prepayments to suppliers comprised various payments mainly related to IT licences, utilities and insurance.Securities related to a savings plan in the US administered by ISS on behalf of certain senior employees.Receivable divestment proceeds mainly related to the divestment of Specialized Services in the USwhere part of the consideration is deferred.Sign-on fees comprised upfront discounts to certain large customers incurred in the normal course of business, most significantly in the UK and on certain global key accounts.Significant accounting judgementsTransition and mobilisation costs (costs to fulfil a contract) comprise costs directly related to start-up of operations of certain large contracts, e.g. transfer of employees from previous suppliers, site due diligence, planning and developing ser-vice plans. The costs include internal direct costs and external costs e.g. to consultants.Capitalisation of transition and mobilisation costs involves management\u2019s judgement to assess if the criteria for capitalisation are fulfilled, including determining if the costs relate directly to the con-tract and are incurred in order for ISS to be able to fulfil the contract. In addition, management de-termines if the costs generate resources that will be used in satisfying the performance obligations and are expected to be recovered, i.e. reflected in the pricing of the contracts. Bid-related costs, including costs relating to sales work and securing contracts, are expensed as incurred.Transition and mobilisation costs comprised costs to fulfil the performance obligation under certain large contracts, see 1.2.3, Costs to fulfil a contract. The increase in 2023 was due to ongoing mobilisation activities for a new contract in the UK, partly offset by ordinary amortisation, mainly in Denmark, Sweden and the UK.Government grants related to various receiv-ables, mainly wage subventions in Spain.Other comprised refunds from customers, accrued interest, VAT, employee-related taxes and other recoverable amounts.Accounting policyOther receivables comprise various items of different nature and thus different measurement methods are applied. As these items are consid-ered individually immaterial, they are presented together as Other receivables.Except for the items described below, other receivables are recognised initially at cost and subsequently at amortised cost. Due to the short-term nature of other receivables, amortised cost will equal the cost.Sign-on fees and transition and mobilisation costs are capitalised and amortised over the initial secured contract term consistent with ISS\u2019s transfer of the related services to the customer.Securities and derivatives are measured at fair value with fair value adjustments being recognised in profit or loss. The fair value of deriv-atives is presented in Other receivables when the fair value is positive and in Other liabilities when the fair value is negative.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__53-1": {
"value": "Securities and derivatives are measured at fair value with fair value adjustments being recognised in profit or loss. The fair value of deriv-atives is presented in Other receivables when the fair value is positive and in Other liabilities when the fair value is negative.Accounting policyThe Group\u2019s interest rate swap qualifies as fair val-ue hedge as the risk being hedged is the possible change in the fair value of a recognised liability. Thus, hedge accounting is applied. The change in the fair value of the interest rate swap (the hedging instrument) is recognised in profit or loss under Financial income or Financial expenses. The change in the fair value of the hedged item (the bond) attributable to the risk being hedged is recognised as part of the carry-ing amount of the hedged item and is also rec-ognised in profit or loss under Financial income or Financial expenses. As the hedge is effective there is no net impact on profit or loss.The unamortised fair value is recognised in profit or loss if the hedged item is derecognised.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__52": {
"value": "Securities and derivatives are measured at fair value with fair value adjustments being recognised in profit or loss. The fair value of deriv-atives is presented in Other receivables when the fair value is positive and in Other liabilities when the fair value is negative.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__55": {
"value": "2.3 Other liabilities (DKKm)2023 2022Accrued wages, pensions and holiday allowances 5,181 5,589 Tax withholdings, VAT etc. 1,778 1,671 Prepayments from customers 989 805 Savings plan 117 104 Derivatives 63 108 Contingent consideration and deferred payments 29 12 Other 325 533 Total 8,482 8,822 In 2023, other liabilities decreased mainly due to reclassification of France as being held for sale. The decrease was partly offset by tax withhold-ings, VAT etc. and prepayments from customers, mainly driven by the revenue growth in 2023. Savings plan related to a plan in the US under which ISS has invested in securities, see 2.2, Other receivables. The plan is administered by ISS on behalf of certain senior employees. ISS invests in securities.Other comprised customer discounts, accrued interests, etc.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__54": {
"value": "2.3 Other liabilities (DKKm)2023 2022Accrued wages, pensions and holiday allowances 5,181 5,589 Tax withholdings, VAT etc. 1,778 1,671 Prepayments from customers 989 805 Savings plan 117 104 Derivatives 63 108 Contingent consideration and deferred payments 29 12 Other 325 533 Total 8,482 8,822 In 2023, other liabilities decreased mainly due to reclassification of France as being held for sale. The decrease was partly offset by tax withhold-ings, VAT etc. and prepayments from customers, mainly driven by the revenue growth in 2023. Savings plan related to a plan in the US under which ISS has invested in securities, see 2.2, Other receivables. The plan is administered by ISS on behalf of certain senior employees. ISS invests in securities.Other comprised customer discounts, accrued interests, etc.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__56": {
"value": "2.4 Changes in working capital (DKKm)2023 2022Changes in inventories (24)(61)Changes in receivables(800)(882)Changes in payables 1,020 1,387 Total 196 444",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAdditionalInformationExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__58": {
"value": "2.5 Provisions, contingencies, guarantees and commitmentsISS is exposed to various risks and uncertainties, and party to certain disputes, claims, investiga-tions and legal proceedings arising out of the normal conduct of its business. These are mainly within:\u2022 Commercial/contractual matters\u2022 Labour-related\u2022 Divestments and M&A\u2022 Tax/social regulationsProvisions are recognised in relation to such obligations for probable losses, that manage-ment deems reasonable and appropriate at 31 December 2023 as reflected in the table to the right. In addition, ISS is exposed to pos-sible obligations in relation hereto, see 2.5.2, Contingencies.2.5.1 Provisions Legal claims and disputes The provision primarily relates to labour-related claims and disputes regarding wages, overtime, holiday, pensions, severance etc., claims and disputes in relation to contractual disagree-ments with customers and suppliers as well as sales and service tax disputes. In addition, the provision includes claims and disputes associ-ated with our divestment activities. Such claims and disputes arise out of the normal conduct of business. In 2023, the decrease was primarily due to settlement of a labour-related dispute in the UK. At 31 December 2023, the remaining provision concerned predominantly Hong Kong, the US, and Norway.Self-insurance The provision mainly relates to employers\u2019 liability and/or workers compensation in certain countries and covers claims by employees for medical benefits and lost wages associated with injuries/illness incurred in the course of their employment.The relevant countries, including self-insurance limits are listed below:\u2022 Hong Kong: DKKm 25.9 (2022: DKKm 26.8) yearly\u2022 UK: DKKm 25.7 (2022: DKKm 25.2) yearly aggregat-ed limit and DKKm 4.3 (2022: DKKm 4.2) per claim\u2022 Australia: DKKm 4.6 (2022: DKKm 4.7) per claim\u2022 US: DKKm 3.4 (2022: DKKm 3.5) per claimThe provision also includes obligations not covered by the global general business liability insurance in relation to damage caused in the ordinary course of service delivery, e.g. property damage and bodily injury. The Group is self-in-sured for claims below DKK 7.5 million (EUR 1 million per claim).Restructurings The provision mainly relates to restructuring projects in several countries. Such projects are conducted in the ordinary course of our business to ensure continuous optimisation and adjustment of our cost base involving mainly overhead reductions, including termination of employees. In 2023, projects were initiated and executed in several countries and at Group level mainly as part of the OneISS strategic review, which resulted in additions of DKK 160 million and payments of DKK 150 million. The latter was mainly in relation to severance payments in Germany.Legal claims and Self- Restruc-Onerous (DKKm)disputesinsuranceturingscontracts Other Total2023At 1 January 268 245 71 77 410 1,071 Foreign exchange adjustments - (8) - (1) (2) (11)Additions 70 198 160 14 10 452 Used during the year(140) (203) (150) (28) (41) (562)Unused amounts reversed(76) (32) - (19) (138) (265)Acquisitions - 3 - 4 - 7 Reclass to Liabilities held for sale(48) - - - - (48)Reclass (to)/from other liabilities 88 60 (5) (21) (14) 108 At 31 December 162 263 76 26 225 752 Non-current 78 154 1 5 149 387 Current 84 109 75 21 76 365 2022At 1 January 235 262 374 330 515 1,716 Foreign exchange adjustments(9) 6 - 3 4 4 Additions 109 142 6 15 99 371 Used during the year(41) (149) (263) (191) (90) (734)Unused amounts reversed(28) (15) (46) (80) (8) (177)Reclass (to)/from other liabilities 2 (1) - - (110) (109)At 31 December 268 245 71 77 410 1,071 Non-current 47 129 - 23 266 465 Current 221 116 71 54 144 606 Onerous contracts The provision covers unavoidable costs for certain loss-making contracts. The continued high inflation and resulting cost increases in 2023, was generally managed through price increases and cost reductions, and did not lead to identification of any significant new onerous contracts or increased provision for contracts already recognised as onerous.In 2023, the decrease of DKK 51 million was pri-marily due to utilisation of the provision for a key account contract in Hong Kong. Furthermore, in the UK and Austria improvement initiatives on a few minor loss-making contracts led to reversal of amounts provided in prior years. Other The provision comprises various other risks andobligations incidental to our business, mostsignificantly related to customer and contract- related risks and disputes, acquisitions, divestments and decommissioning liabilities.In 2023, the provision decreased to DKK 225 million (2022: DKK 410 million) mainly due to utilisations and reassessments related to customer disputes and contract-related risks. At 31 December 2023, the provision mainly related to customer disputes and contract risks in the US and Germany. 2.5.2 Contingencies ISS is party to pending disputes, claims, investi-gations and litigations arising out of the normal conduct of its business and is therefore exposed to possible obligations. Management believes that these will not have a material impact on the Group\u2019s financial position beyond the assets and liabilities recognised in the statement of financial position at 31 December 2023. However, the existence of such possible obligations will only be confirmed by the occurrence of future events, not entirely within ISS\u2019s control. Due to the inherent uncertainty, future events may lead to material adverse effects on the Group\u2019s profit or loss, financial position and cash flows from one or more of these possible obligations.Contractual disagreements Contractual disagreements with customers arise on a recurring basis in the ordinary course of ISS\u2019s business. While most are resolved as part of the daily contract management procedures, in some cases the contractual disagreements will lead to legal proceedings.The Group is currently party to certain disputes and legal proceedings, including in relation to the contract with Deutsche Telekom (DTAG). As previously informed, ISS has initiated the establish-ment of an Arbitration Tribunal under the German Institute of Arbitration (DIS) to decide on the con-tractual disagreements between ISS and DTAG. The arbitration proceedings are expected to complete with a final and binding ruling by mid-2025. In the proceedings ISS and DTAG have exchanged claims against each other. ISS has claimed remuneration for services rendered. DTAG has disputed the claims and is currently withholding certain pay-ments to ISS related to the services rendered. The outcome of the proceedings remains uncertain.Labour-related risks Being a people company operating across different geographies and service areas exposes us to varying and changing labour laws, including regulations on pension schemes, especially across Europe. Although we have policies and procedures in place to ensure that we comply with current reg-ulations, interpretations and procedures applied by ISS could be challenged in certain jurisdictions and result in disputes and possibly liabilities.The Group is currently party to certain labour- related claims, disputes and legal proceedings, e.g. around wages, overtime, holiday and severance. Additionally, the Group is aware of certain legal rulings implying that practices applied by ISS could potentially be challenged and possibly lead to liabilities in the future. Management believes that these would not have a material impact on the Group\u2019s financial position beyond the assets and liabilities already recognised at 31 December 2023. Divestments The Group makes provisions for claims from purchasers or other parties in connection with divestments and the representations and warranties given in relation to such divestments. In addition, the Group\u2019s divestment activities can give rise to possible obligations, mainly labour-related, including pension plans, and related to disputes in relation to sales price. RestructuringsRestructuring projects are being undertaken on an ongoing basis across different geographies and service areas, currently mainly in Germany, France and Spain. Labour laws especially in Europe include restrictions on dismissals and procedural rules to be followed. The procedures applied by ISS could be challenged in certain jurisdictions resulting in disputes and possibly liabilities. Management believes that this would not have a material impact on the Group\u2019s fi-nancial position beyond the assets and liabilities already recognised at 31 December 2023.Sales and consumption tax disputesBeing a global company operating in various regulatory jurisdictions exposes us to varying and changing laws and regulations, including interpretations from authorities on sales and consumption taxes. Although we have policies and procedures in place to ensure that we com-ply with current regulations, interpretations and procedures applied by ISS could be challenged in certain jurisdictions and result in disputes and possibly liabilities and future cash outflows. The Group is currently party to certain disputes, mainly in relation to VAT on canteen services in Norway.2.5.3 Guarantees ISS has issued certain guarantees in the normalcourse of business. (DKKm)2023 2022Bank-guaranteed performance bonds 1,627 1,755 Other performance bonds 4,824 3,131Performance guarantees (service contracts)6,451 4,886Indemnity and guarantee commitments 575 472 Performance guarantees ISS regularly issues performance guarantees to customers to guarantee satisfactory completion of work in accordance with the service contract. Such guarantees are issued in the ordinary course of business, either in the form of bank guarantees, parent guarantees or insurances. The increase in Other performance bonds related mainly to a new contract in the UK.Indemnity and guarantee commitments Other guarantees are mainly issued to insurance companies towards self-insurance liabilities as well as to owners of rental property occupied by ISS in certain countries. Furthermore, in a few instances guarantees have been issued to public authorities towards tax withholding liabilities.2.5.4 Commitments The Group has entered into various contractual agreements under which the Group is obligated to pay a continued fee in the short to long term.(DKKm)2023License agreements 792Leases 60Purchase obligations, suppliers and subcontractors 44Total not recognised 896Non-current 673Current 223The Group entered into multi-year software license agreements with non-cancellable obliga-tions to pay future license fees. The majority relates to an enterprise agreement of a suite of office-related productivity and security software. Leases relates to various contracts not yet commenced at 31 December 2023, but entailing obligations for future lease payments.Furthermore, the Group entered into con-tracts with a limited number of suppliers and subcontractors that contain future purchase obligations.Significant accounting estimates and judgementsDue to our strategic focus on key accounts, our cus-tomer base contains a large number of larger complex contracts in terms of performance obligations towards our customers. Additionally, the size and complexity of such contracts often requires ISS to incur significant transition and mobilisation costs before service delivery commences to enable fulfilment of the performance obligations. Furthermore, complex restructuring projects may need to be initiated and recognised as a provision.Onerous contracts Management assesses whether contracts may be onerous by estimating the expected future profitability. This involves estimating total con-tract revenue and the unavoidable costs of meeting the performance obligations under the contract, including any transition and mobilisation costs incurred. In esti-mating the expected future profitability, management makes judgements, including in relation to termination and extension options. Certain contracts are large, complex and longer-term facility service partnerships. In estimating unavoidable costs in relation to such contracts, management makes assumptions around future realisation of costs taking estimated optimisations and efficiency gains from im-provement initiatives into consideration. While ISS has inherent risk in this respect, ISS is by nature also de-pendent on aligning interest with the customer within the framework of the agreement for the benefit of both parties. The outcome may vary significantly should the assumptions and judgements applied not be realised as expected by management and applied as basis for their assessment of whether a contract is onerous.Restructurings and other provisions Management makes judgements related to various other matters and obligations, primarily relating to planned/initiated restructurings, and complex customer and contract- related risks and disputes, including ongoing lawsuits. Management\u2019s assessment of the likely outcome of lawsuits, etc., is based on external legal assistance and established precedents.For large, complex contracts, the outcome may vary significantly should the judgements and assumptions applied by management in their assessment of the risks and disputes not be realised as expected. Accounting policyProvisionsProvisions are recognised at the estimated costs when the Group, as a result of a past event, has a legal or constructive obligation and it is probable that an outflow of economic benefits will be required to settle the obligation. The amount is discounted using the Group\u2019s average borrowing rate, if this significant-ly impacts the measurement of the liability. Provisions are recognised for:Legal claims and disputes, e.g. lawsuits and other disputes, based on external legal assistance and established precedents.Self-insurance on employers\u2019 liability and/or workers compensation based on valuations from external actuaries. Restructurings when a detailed, formal restructuring plan is announced to the affected parties on or before the reporting date. The plan must identify the business concerned, the location and number of employees af-fected, and a detailed estimate of the associated costs, as well as the timeline must be in place. Onerous contracts, when the unavoidable costs, including directly allocated overhead costs, of meeting the obligations under the contract exceed the economic benefits expected to be received under it, corresponding to the lower of the costs to fulfil the obligations under the contract and the costs of exiting the contract. Customer and contract-related disputes (presented in \"Other\" provisions) based on an assessment of available facts and circumstances in respect of the specific risks or disputes, when it is deemed that a contractual, non-contractual or constructive obliga-tion exists, and it is probable that this will lead to an outflow of economic resources from the Group. Decommissioning liability (presented in \"Other\" provisions) if the Group has a legal obligation to dis-mantle or remove an asset or restore a site or leased facilities when vacated. The present value of the obli-gation is included in the cost of the relevant tangible or right-of-use asset and depreciated accordingly. The estimated future costs of decommissioning are reviewed annually and adjusted as appropriate. Changes in the estimated future costs, or in the discount rate applied, are added to or deducted from the cost of the relevant asset.Contingencies and commitmentsContingent liabilities are possible of nature as the existence of the obligation will be confirmed by the occurrence or non-occurrence of future events. An obligation may also be contingent if the amount cannot be estimated reliable or settlement is not probable.Commitments is the Group\u2019s promise resulting from a contractual agreement to assume a future obligation for a future delivery.Contingent liabilities and commitments do not repre-sent a legal or constructive obligation. Thus, they are not recognised, but disclosed in the notes.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__57": {
"value": "2.5 Provisions, contingencies, guarantees and commitmentsISS is exposed to various risks and uncertainties, and party to certain disputes, claims, investiga-tions and legal proceedings arising out of the normal conduct of its business. These are mainly within:\u2022 Commercial/contractual matters\u2022 Labour-related\u2022 Divestments and M&A\u2022 Tax/social regulationsProvisions are recognised in relation to such obligations for probable losses, that manage-ment deems reasonable and appropriate at 31 December 2023 as reflected in the table to the right. In addition, ISS is exposed to pos-sible obligations in relation hereto, see 2.5.2, Contingencies.2.5.1 Provisions Legal claims and disputes The provision primarily relates to labour-related claims and disputes regarding wages, overtime, holiday, pensions, severance etc., claims and disputes in relation to contractual disagree-ments with customers and suppliers as well as sales and service tax disputes. In addition, the provision includes claims and disputes associ-ated with our divestment activities. Such claims and disputes arise out of the normal conduct of business. In 2023, the decrease was primarily due to settlement of a labour-related dispute in the UK. At 31 December 2023, the remaining provision concerned predominantly Hong Kong, the US, and Norway.Self-insurance The provision mainly relates to employers\u2019 liability and/or workers compensation in certain countries and covers claims by employees for medical benefits and lost wages associated with injuries/illness incurred in the course of their employment.The relevant countries, including self-insurance limits are listed below:\u2022 Hong Kong: DKKm 25.9 (2022: DKKm 26.8) yearly\u2022 UK: DKKm 25.7 (2022: DKKm 25.2) yearly aggregat-ed limit and DKKm 4.3 (2022: DKKm 4.2) per claim\u2022 Australia: DKKm 4.6 (2022: DKKm 4.7) per claim\u2022 US: DKKm 3.4 (2022: DKKm 3.5) per claimThe provision also includes obligations not covered by the global general business liability insurance in relation to damage caused in the ordinary course of service delivery, e.g. property damage and bodily injury. The Group is self-in-sured for claims below DKK 7.5 million (EUR 1 million per claim).Restructurings The provision mainly relates to restructuring projects in several countries. Such projects are conducted in the ordinary course of our business to ensure continuous optimisation and adjustment of our cost base involving mainly overhead reductions, including termination of employees. In 2023, projects were initiated and executed in several countries and at Group level mainly as part of the OneISS strategic review, which resulted in additions of DKK 160 million and payments of DKK 150 million. The latter was mainly in relation to severance payments in Germany.Legal claims and Self- Restruc-Onerous (DKKm)disputesinsuranceturingscontracts Other Total2023At 1 January 268 245 71 77 410 1,071 Foreign exchange adjustments - (8) - (1) (2) (11)Additions 70 198 160 14 10 452 Used during the year(140) (203) (150) (28) (41) (562)Unused amounts reversed(76) (32) - (19) (138) (265)Acquisitions - 3 - 4 - 7 Reclass to Liabilities held for sale(48) - - - - (48)Reclass (to)/from other liabilities 88 60 (5) (21) (14) 108 At 31 December 162 263 76 26 225 752 Non-current 78 154 1 5 149 387 Current 84 109 75 21 76 365 2022At 1 January 235 262 374 330 515 1,716 Foreign exchange adjustments(9) 6 - 3 4 4 Additions 109 142 6 15 99 371 Used during the year(41) (149) (263) (191) (90) (734)Unused amounts reversed(28) (15) (46) (80) (8) (177)Reclass (to)/from other liabilities 2 (1) - - (110) (109)At 31 December 268 245 71 77 410 1,071 Non-current 47 129 - 23 266 465 Current 221 116 71 54 144 606 Onerous contracts The provision covers unavoidable costs for certain loss-making contracts. The continued high inflation and resulting cost increases in 2023, was generally managed through price increases and cost reductions, and did not lead to identification of any significant new onerous contracts or increased provision for contracts already recognised as onerous.In 2023, the decrease of DKK 51 million was pri-marily due to utilisation of the provision for a key account contract in Hong Kong. Furthermore, in the UK and Austria improvement initiatives on a few minor loss-making contracts led to reversal of amounts provided in prior years. Other The provision comprises various other risks andobligations incidental to our business, mostsignificantly related to customer and contract- related risks and disputes, acquisitions, divestments and decommissioning liabilities.In 2023, the provision decreased to DKK 225 million (2022: DKK 410 million) mainly due to utilisations and reassessments related to customer disputes and contract-related risks. At 31 December 2023, the provision mainly related to customer disputes and contract risks in the US and Germany. 2.5.2 Contingencies ISS is party to pending disputes, claims, investi-gations and litigations arising out of the normal conduct of its business and is therefore exposed to possible obligations. Management believes that these will not have a material impact on the Group\u2019s financial position beyond the assets and liabilities recognised in the statement of financial position at 31 December 2023. However, the existence of such possible obligations will only be confirmed by the occurrence of future events, not entirely within ISS\u2019s control. Due to the inherent uncertainty, future events may lead to material adverse effects on the Group\u2019s profit or loss, financial position and cash flows from one or more of these possible obligations.Contractual disagreements Contractual disagreements with customers arise on a recurring basis in the ordinary course of ISS\u2019s business. While most are resolved as part of the daily contract management procedures, in some cases the contractual disagreements will lead to legal proceedings.The Group is currently party to certain disputes and legal proceedings, including in relation to the contract with Deutsche Telekom (DTAG). As previously informed, ISS has initiated the establish-ment of an Arbitration Tribunal under the German Institute of Arbitration (DIS) to decide on the con-tractual disagreements between ISS and DTAG. The arbitration proceedings are expected to complete with a final and binding ruling by mid-2025. In the proceedings ISS and DTAG have exchanged claims against each other. ISS has claimed remuneration for services rendered. DTAG has disputed the claims and is currently withholding certain pay-ments to ISS related to the services rendered. The outcome of the proceedings remains uncertain.Labour-related risks Being a people company operating across different geographies and service areas exposes us to varying and changing labour laws, including regulations on pension schemes, especially across Europe. Although we have policies and procedures in place to ensure that we comply with current reg-ulations, interpretations and procedures applied by ISS could be challenged in certain jurisdictions and result in disputes and possibly liabilities.The Group is currently party to certain labour- related claims, disputes and legal proceedings, e.g. around wages, overtime, holiday and severance. Additionally, the Group is aware of certain legal rulings implying that practices applied by ISS could potentially be challenged and possibly lead to liabilities in the future. Management believes that these would not have a material impact on the Group\u2019s financial position beyond the assets and liabilities already recognised at 31 December 2023. Divestments The Group makes provisions for claims from purchasers or other parties in connection with divestments and the representations and warranties given in relation to such divestments. In addition, the Group\u2019s divestment activities can give rise to possible obligations, mainly labour-related, including pension plans, and related to disputes in relation to sales price. RestructuringsRestructuring projects are being undertaken on an ongoing basis across different geographies and service areas, currently mainly in Germany, France and Spain. Labour laws especially in Europe include restrictions on dismissals and procedural rules to be followed. The procedures applied by ISS could be challenged in certain jurisdictions resulting in disputes and possibly liabilities. Management believes that this would not have a material impact on the Group\u2019s fi-nancial position beyond the assets and liabilities already recognised at 31 December 2023.Sales and consumption tax disputesBeing a global company operating in various regulatory jurisdictions exposes us to varying and changing laws and regulations, including interpretations from authorities on sales and consumption taxes. Although we have policies and procedures in place to ensure that we com-ply with current regulations, interpretations and procedures applied by ISS could be challenged in certain jurisdictions and result in disputes and possibly liabilities and future cash outflows. The Group is currently party to certain disputes, mainly in relation to VAT on canteen services in Norway.2.5.3 Guarantees ISS has issued certain guarantees in the normalcourse of business. (DKKm)2023 2022Bank-guaranteed performance bonds 1,627 1,755 Other performance bonds 4,824 3,131Performance guarantees (service contracts)6,451 4,886Indemnity and guarantee commitments 575 472 Performance guarantees ISS regularly issues performance guarantees to customers to guarantee satisfactory completion of work in accordance with the service contract. Such guarantees are issued in the ordinary course of business, either in the form of bank guarantees, parent guarantees or insurances. The increase in Other performance bonds related mainly to a new contract in the UK.Indemnity and guarantee commitments Other guarantees are mainly issued to insurance companies towards self-insurance liabilities as well as to owners of rental property occupied by ISS in certain countries. Furthermore, in a few instances guarantees have been issued to public authorities towards tax withholding liabilities.2.5.4 Commitments The Group has entered into various contractual agreements under which the Group is obligated to pay a continued fee in the short to long term.(DKKm)2023License agreements 792Leases 60Purchase obligations, suppliers and subcontractors 44Total not recognised 896Non-current 673Current 223The Group entered into multi-year software license agreements with non-cancellable obliga-tions to pay future license fees. The majority relates to an enterprise agreement of a suite of office-related productivity and security software. Leases relates to various contracts not yet commenced at 31 December 2023, but entailing obligations for future lease payments.Furthermore, the Group entered into con-tracts with a limited number of suppliers and subcontractors that contain future purchase obligations.Significant accounting estimates and judgementsDue to our strategic focus on key accounts, our cus-tomer base contains a large number of larger complex contracts in terms of performance obligations towards our customers. Additionally, the size and complexity of such contracts often requires ISS to incur significant transition and mobilisation costs before service delivery commences to enable fulfilment of the performance obligations. Furthermore, complex restructuring projects may need to be initiated and recognised as a provision.Onerous contracts Management assesses whether contracts may be onerous by estimating the expected future profitability. This involves estimating total con-tract revenue and the unavoidable costs of meeting the performance obligations under the contract, including any transition and mobilisation costs incurred. In esti-mating the expected future profitability, management makes judgements, including in relation to termination and extension options. Certain contracts are large, complex and longer-term facility service partnerships. In estimating unavoidable costs in relation to such contracts, management makes assumptions around future realisation of costs taking estimated optimisations and efficiency gains from im-provement initiatives into consideration. While ISS has inherent risk in this respect, ISS is by nature also de-pendent on aligning interest with the customer within the framework of the agreement for the benefit of both parties. The outcome may vary significantly should the assumptions and judgements applied not be realised as expected by management and applied as basis for their assessment of whether a contract is onerous.Restructurings and other provisions Management makes judgements related to various other matters and obligations, primarily relating to planned/initiated restructurings, and complex customer and contract- related risks and disputes, including ongoing lawsuits. Management\u2019s assessment of the likely outcome of lawsuits, etc., is based on external legal assistance and established precedents.For large, complex contracts, the outcome may vary significantly should the judgements and assumptions applied by management in their assessment of the risks and disputes not be realised as expected. Accounting policyProvisionsProvisions are recognised at the estimated costs when the Group, as a result of a past event, has a legal or constructive obligation and it is probable that an outflow of economic benefits will be required to settle the obligation. The amount is discounted using the Group\u2019s average borrowing rate, if this significant-ly impacts the measurement of the liability. Provisions are recognised for:Legal claims and disputes, e.g. lawsuits and other disputes, based on external legal assistance and established precedents.Self-insurance on employers\u2019 liability and/or workers compensation based on valuations from external actuaries. Restructurings when a detailed, formal restructuring plan is announced to the affected parties on or before the reporting date. The plan must identify the business concerned, the location and number of employees af-fected, and a detailed estimate of the associated costs, as well as the timeline must be in place. Onerous contracts, when the unavoidable costs, including directly allocated overhead costs, of meeting the obligations under the contract exceed the economic benefits expected to be received under it, corresponding to the lower of the costs to fulfil the obligations under the contract and the costs of exiting the contract. Customer and contract-related disputes (presented in \"Other\" provisions) based on an assessment of available facts and circumstances in respect of the specific risks or disputes, when it is deemed that a contractual, non-contractual or constructive obliga-tion exists, and it is probable that this will lead to an outflow of economic resources from the Group. Decommissioning liability (presented in \"Other\" provisions) if the Group has a legal obligation to dis-mantle or remove an asset or restore a site or leased facilities when vacated. The present value of the obli-gation is included in the cost of the relevant tangible or right-of-use asset and depreciated accordingly. The estimated future costs of decommissioning are reviewed annually and adjusted as appropriate. Changes in the estimated future costs, or in the discount rate applied, are added to or deducted from the cost of the relevant asset.Contingencies and commitmentsContingent liabilities are possible of nature as the existence of the obligation will be confirmed by the occurrence or non-occurrence of future events. An obligation may also be contingent if the amount cannot be estimated reliable or settlement is not probable.Commitments is the Group\u2019s promise resulting from a contractual agreement to assume a future obligation for a future delivery.Contingent liabilities and commitments do not repre-sent a legal or constructive obligation. Thus, they are not recognised, but disclosed in the notes.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__60-1": {
"value": "2.5.2 Contingencies ISS is party to pending disputes, claims, investi-gations and litigations arising out of the normal conduct of its business and is therefore exposed to possible obligations. Management believes that these will not have a material impact on the Group\u2019s financial position beyond the assets and liabilities recognised in the statement of financial position at 31 December 2023. However, the existence of such possible obligations will only be confirmed by the occurrence of future events, not entirely within ISS\u2019s control. Due to the inherent uncertainty, future events may lead to material adverse effects on the Group\u2019s profit or loss, financial position and cash flows from one or more of these possible obligations.Contractual disagreements Contractual disagreements with customers arise on a recurring basis in the ordinary course of ISS\u2019s business. While most are resolved as part of the daily contract management procedures, in some cases the contractual disagreements will lead to legal proceedings.The Group is currently party to certain disputes and legal proceedings, including in relation to the contract with Deutsche Telekom (DTAG). As previously informed, ISS has initiated the establish-ment of an Arbitration Tribunal under the German Institute of Arbitration (DIS) to decide on the con-tractual disagreements between ISS and DTAG. The arbitration proceedings are expected to complete with a final and binding ruling by mid-2025. In the proceedings ISS and DTAG have exchanged claims against each other. ISS has claimed remuneration for services rendered. DTAG has disputed the claims and is currently withholding certain pay-ments to ISS related to the services rendered. The outcome of the proceedings remains uncertain.Labour-related risks Being a people company operating across different geographies and service areas exposes us to varying and changing labour laws, including regulations on pension schemes, especially across Europe. Although we have policies and procedures in place to ensure that we comply with current reg-ulations, interpretations and procedures applied by ISS could be challenged in certain jurisdictions and result in disputes and possibly liabilities.The Group is currently party to certain labour- related claims, disputes and legal proceedings, e.g. around wages, overtime, holiday and severance. Additionally, the Group is aware of certain legal rulings implying that practices applied by ISS could potentially be challenged and possibly lead to liabilities in the future. Management believes that these would not have a material impact on the Group\u2019s financial position beyond the assets and liabilities already recognised at 31 December 2023. Divestments The Group makes provisions for claims from purchasers or other parties in connection with divestments and the representations and warranties given in relation to such divestments. In addition, the Group\u2019s divestment activities can give rise to possible obligations, mainly labour-related, including pension plans, and related to disputes in relation to sales price. RestructuringsRestructuring projects are being undertaken on an ongoing basis across different geographies and service areas, currently mainly in Germany, France and Spain. Labour laws especially in Europe include restrictions on dismissals and procedural rules to be followed. The procedures applied by ISS could be challenged in certain jurisdictions resulting in disputes and possibly liabilities. Management believes that this would not have a material impact on the Group\u2019s fi-nancial position beyond the assets and liabilities already recognised at 31 December 2023.Sales and consumption tax disputesBeing a global company operating in various regulatory jurisdictions exposes us to varying and changing laws and regulations, including interpretations from authorities on sales and consumption taxes. Although we have policies and procedures in place to ensure that we com-ply with current regulations, interpretations and procedures applied by ISS could be challenged in certain jurisdictions and result in disputes and possibly liabilities and future cash outflows. The Group is currently party to certain disputes, mainly in relation to VAT on canteen services in Norway.2.5.3 Guarantees ISS has issued certain guarantees in the normalcourse of business. (DKKm)2023 2022Bank-guaranteed performance bonds 1,627 1,755 Other performance bonds 4,824 3,131Performance guarantees (service contracts)6,451 4,886Indemnity and guarantee commitments 575 472 Performance guarantees ISS regularly issues performance guarantees to customers to guarantee satisfactory completion of work in accordance with the service contract. Such guarantees are issued in the ordinary course of business, either in the form of bank guarantees, parent guarantees or insurances. The increase in Other performance bonds related mainly to a new contract in the UK.Indemnity and guarantee commitments Other guarantees are mainly issued to insurance companies towards self-insurance liabilities as well as to owners of rental property occupied by ISS in certain countries. Furthermore, in a few instances guarantees have been issued to public authorities towards tax withholding liabilities.2.5.4 Commitments The Group has entered into various contractual agreements under which the Group is obligated to pay a continued fee in the short to long term.(DKKm)2023License agreements 792Leases 60Purchase obligations, suppliers and subcontractors 44Total not recognised 896Non-current 673Current 223The Group entered into multi-year software license agreements with non-cancellable obliga-tions to pay future license fees. The majority relates to an enterprise agreement of a suite of office-related productivity and security software. Leases relates to various contracts not yet commenced at 31 December 2023, but entailing obligations for future lease payments.Furthermore, the Group entered into con-tracts with a limited number of suppliers and subcontractors that contain future purchase obligations.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__64": {
"value": "Accounting policyProvisionsProvisions are recognised at the estimated costs when the Group, as a result of a past event, has a legal or constructive obligation and it is probable that an outflow of economic benefits will be required to settle the obligation. The amount is discounted using the Group\u2019s average borrowing rate, if this significant-ly impacts the measurement of the liability. Provisions are recognised for:Legal claims and disputes, e.g. lawsuits and other disputes, based on external legal assistance and established precedents.Self-insurance on employers\u2019 liability and/or workers compensation based on valuations from external actuaries. Restructurings when a detailed, formal restructuring plan is announced to the affected parties on or before the reporting date. The plan must identify the business concerned, the location and number of employees af-fected, and a detailed estimate of the associated costs, as well as the timeline must be in place. Onerous contracts, when the unavoidable costs, including directly allocated overhead costs, of meeting the obligations under the contract exceed the economic benefits expected to be received under it, corresponding to the lower of the costs to fulfil the obligations under the contract and the costs of exiting the contract. Customer and contract-related disputes (presented in \"Other\" provisions) based on an assessment of available facts and circumstances in respect of the specific risks or disputes, when it is deemed that a contractual, non-contractual or constructive obliga-tion exists, and it is probable that this will lead to an outflow of economic resources from the Group. Decommissioning liability (presented in \"Other\" provisions) if the Group has a legal obligation to dis-mantle or remove an asset or restore a site or leased facilities when vacated. The present value of the obli-gation is included in the cost of the relevant tangible or right-of-use asset and depreciated accordingly. The estimated future costs of decommissioning are reviewed annually and adjusted as appropriate. Changes in the estimated future costs, or in the discount rate applied, are added to or deducted from the cost of the relevant asset.Contingencies and commitmentsContingent liabilities are possible of nature as the existence of the obligation will be confirmed by the occurrence or non-occurrence of future events. An obligation may also be contingent if the amount cannot be estimated reliable or settlement is not probable.Commitments is the Group\u2019s promise resulting from a contractual agreement to assume a future obligation for a future delivery.Contingent liabilities and commitments do not repre-sent a legal or constructive obligation. Thus, they are not recognised, but disclosed in the notes.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDecommissioningRestorationAndRehabilitationProvisionsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__63": {
"value": "Accounting policyProvisionsProvisions are recognised at the estimated costs when the Group, as a result of a past event, has a legal or constructive obligation and it is probable that an outflow of economic benefits will be required to settle the obligation. The amount is discounted using the Group\u2019s average borrowing rate, if this significant-ly impacts the measurement of the liability. Provisions are recognised for:Legal claims and disputes, e.g. lawsuits and other disputes, based on external legal assistance and established precedents.Self-insurance on employers\u2019 liability and/or workers compensation based on valuations from external actuaries. Restructurings when a detailed, formal restructuring plan is announced to the affected parties on or before the reporting date. The plan must identify the business concerned, the location and number of employees af-fected, and a detailed estimate of the associated costs, as well as the timeline must be in place. Onerous contracts, when the unavoidable costs, including directly allocated overhead costs, of meeting the obligations under the contract exceed the economic benefits expected to be received under it, corresponding to the lower of the costs to fulfil the obligations under the contract and the costs of exiting the contract. Customer and contract-related disputes (presented in \"Other\" provisions) based on an assessment of available facts and circumstances in respect of the specific risks or disputes, when it is deemed that a contractual, non-contractual or constructive obliga-tion exists, and it is probable that this will lead to an outflow of economic resources from the Group. Decommissioning liability (presented in \"Other\" provisions) if the Group has a legal obligation to dis-mantle or remove an asset or restore a site or leased facilities when vacated. The present value of the obli-gation is included in the cost of the relevant tangible or right-of-use asset and depreciated accordingly. The estimated future costs of decommissioning are reviewed annually and adjusted as appropriate. Changes in the estimated future costs, or in the discount rate applied, are added to or deducted from the cost of the relevant asset.Contingencies and commitmentsContingent liabilities are possible of nature as the existence of the obligation will be confirmed by the occurrence or non-occurrence of future events. An obligation may also be contingent if the amount cannot be estimated reliable or settlement is not probable.Commitments is the Group\u2019s promise resulting from a contractual agreement to assume a future obligation for a future delivery.Contingent liabilities and commitments do not repre-sent a legal or constructive obligation. Thus, they are not recognised, but disclosed in the notes.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__59": {
"value": "Accounting policyProvisionsProvisions are recognised at the estimated costs when the Group, as a result of a past event, has a legal or constructive obligation and it is probable that an outflow of economic benefits will be required to settle the obligation. The amount is discounted using the Group\u2019s average borrowing rate, if this significant-ly impacts the measurement of the liability. Provisions are recognised for:Legal claims and disputes, e.g. lawsuits and other disputes, based on external legal assistance and established precedents.Self-insurance on employers\u2019 liability and/or workers compensation based on valuations from external actuaries. Restructurings when a detailed, formal restructuring plan is announced to the affected parties on or before the reporting date. The plan must identify the business concerned, the location and number of employees af-fected, and a detailed estimate of the associated costs, as well as the timeline must be in place. Onerous contracts, when the unavoidable costs, including directly allocated overhead costs, of meeting the obligations under the contract exceed the economic benefits expected to be received under it, corresponding to the lower of the costs to fulfil the obligations under the contract and the costs of exiting the contract. Customer and contract-related disputes (presented in \"Other\" provisions) based on an assessment of available facts and circumstances in respect of the specific risks or disputes, when it is deemed that a contractual, non-contractual or constructive obliga-tion exists, and it is probable that this will lead to an outflow of economic resources from the Group. Decommissioning liability (presented in \"Other\" provisions) if the Group has a legal obligation to dis-mantle or remove an asset or restore a site or leased facilities when vacated. The present value of the obli-gation is included in the cost of the relevant tangible or right-of-use asset and depreciated accordingly. The estimated future costs of decommissioning are reviewed annually and adjusted as appropriate. Changes in the estimated future costs, or in the discount rate applied, are added to or deducted from the cost of the relevant asset.Contingencies and commitmentsContingent liabilities are possible of nature as the existence of the obligation will be confirmed by the occurrence or non-occurrence of future events. An obligation may also be contingent if the amount cannot be estimated reliable or settlement is not probable.Commitments is the Group\u2019s promise resulting from a contractual agreement to assume a future obligation for a future delivery.Contingent liabilities and commitments do not repre-sent a legal or constructive obligation. Thus, they are not recognised, but disclosed in the notes.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__72": {
"value": "2.6 Right-of-use assets and property, plant and equipment ISS is a people business operating based on an asset-light business model. Operating assets (leased and owned) comprised only 7% of the Group\u2019s total assets at 31 December 2023 (2022: 7%). Our model is mainly based on leasing, rather than owning, property, vehicles and equipment.2.6.1 Right-of-use assets At 31 December 2023, ISS was party to around 17,500 (2022: 18,500) lease agreements of which the majority related to vehicles. In terms of asset value, the main part related to property. Additions was DKK 908 million in 2023 (2022: DKK 765 million). The increase was mainly driven by new production equipment and vehicle leases in Belgium related to a new contract whereas other countries were broadly in line with 2022.Lease-related costs(DKKm)2023 2022Depreciation of right-of-use assets 879 830 Interest expenses on lease liabilities 121 78 Leases of low-value assets 138 182 Short-term leases 49 67 Variable lease payments 7 11 Recognised in profit or loss 1,194 1,168Hereof cash outflow 315 338 2.6.2 Property, plant and equipmentConsists mainly of production equipment and leasehold improvements. In 2023, additions of DKK 394 million (2022: DKK 345 million) primar-ily related to equipment for new and existing contracts, and leasehold improvements.20232022Right-of-use assets Property,Right-of-use assets Property,plant andplant and(DKKm)Properties Vehicles Other Total equipment equipment Properties Vehicles Other Total Cost at 1 January 2,657 1,412 707 4,776 3,275 2,582 1,307 577 4,466 3,455 Foreign exchange adjustments 19 (2)(78)(61)(84) 4 (9)(35)(40)(39)Hyperinflation restatement 2 20 70 92 104 - 20 57 77 183 Additions 258 440 210 908 394 264 312 189 765 345 Acquisitions (5) - - (5)4 5 34 - 39 7 Divestments - (6) - (6)(6) - - - - (16)Disposals (236)(326)(88)(650)(395)(198)(252)(81)(531)(654)Reclass to Assets held for sale (180)(87)(71)(338)(159) - - - - -Reclass - - (15)(15)15 - - - - (6)Cost at 31 December 2,515 1,451 735 4,701 3,148 2,657 1,412 707 4,776 3,275 Depreciation at 1 January (1,272)(773)(328)(2,373)(2,358)(1,071)(669)(281)(2,021)(2,524)Foreign exchange adjustments (10) 1 32 23 51 (1) 7 19 25 30 Hyperinflation restatement - (7)(17)(24)(57) - (7)(13)(20)(107)Impairment (141)(36)(33)(210)(38) - - - - (22)Depreciation (392)(355)(159)(906)(347)(398)(356)(134)(888)(376)Divestments - 2 - 2 4 - - - - 15 Disposals 236 326 88 650 379 198 252 81 531 626 Reclass to Assets held for sale 180 82 60 322 159 - - - - - Reclass - - 15 15 (15) - - - - - Depreciation at 31 December (1,399)(760)(342)(2,501)(2,222)(1,272)(773)(328)(2,373)(2,358)Carrying amount at 31 December 1,116 691 393 2,200 926 1,385 639 379 2,403 917 Lease liabilities For carrying amount, see 4.2.1, Loans and borrowings. For maturity, see 4.5.1, Financial liabilities.Significant accounting judgementsLease term Several of ISS\u2019s lease contracts (office buildings) have no contractual fixed lease term or contains an extension option. Management exercises judgement in determining whether these extension options are reasonably certain to be exercised. Management considers all relevant facts and circumstances that create an economic incentive for the Group to exercise the extension option. The lease term for contracts without an end date is normally set to ten years for head office and accessory buildings, whereas all other leases with no definite end date are set to five years. Accounting policyRight-of-use assets are recognised at the com-mencement date of the lease and measured at cost less accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities, including extension options. Certain leases comprise a liability to dismantle or remove the asset or restore the facility. Cost related to such liability is recognised as part of the cost of the right-of-use asset. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful life of the asset.Estimated useful lifeProperties 5-10 yearsVehicles3-5 yearsOther equipment 2-5 yearsDepreciation methods, useful lives and residual values are reassessed at the reporting date.Certain leases have a term of 12 months or less or are leases of low-value assets, such as minor cleaning and IT equipment and office furniture. The recognition exemptions are applied for these leases and lease payments are recognised in Other operating expen-ses on a straight-line basis over the lease term.Property, plant and equipment is measured at cost, less accumulated depreciation and impair-ment losses.Certain assets comprise a liability to dismantle or remove the asset or restore the site. Cost related to such liability is recognised as part of the cost of the asset.Property, plant and equipment is depreciated on a straight-line basis over the estimated useful lives of the assets.Estimated useful lifePlant and equipment 3-10 yearsLeasehold improvements (lease term)3-10 yearsBuildings 20-40 yearsLandNot depreciatedDepreciation methods, useful lives and residual values are reassessed at the reporting date.Gains and losses arising on the disposal or retirement of property, plant and equipment are recognised in Other operating expenses in the year of sale, except gains and losses arising on disposal of property, which are recognised in Other income and expenses, net.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__67": {
"value": "2.6 Right-of-use assets and property, plant and equipment ISS is a people business operating based on an asset-light business model. Operating assets (leased and owned) comprised only 7% of the Group\u2019s total assets at 31 December 2023 (2022: 7%). Our model is mainly based on leasing, rather than owning, property, vehicles and equipment.2.6.1 Right-of-use assets At 31 December 2023, ISS was party to around 17,500 (2022: 18,500) lease agreements of which the majority related to vehicles. In terms of asset value, the main part related to property. Additions was DKK 908 million in 2023 (2022: DKK 765 million). The increase was mainly driven by new production equipment and vehicle leases in Belgium related to a new contract whereas other countries were broadly in line with 2022.Lease-related costs(DKKm)2023 2022Depreciation of right-of-use assets 879 830 Interest expenses on lease liabilities 121 78 Leases of low-value assets 138 182 Short-term leases 49 67 Variable lease payments 7 11 Recognised in profit or loss 1,194 1,168Hereof cash outflow 315 338 2.6.2 Property, plant and equipmentConsists mainly of production equipment and leasehold improvements. In 2023, additions of DKK 394 million (2022: DKK 345 million) primar-ily related to equipment for new and existing contracts, and leasehold improvements.20232022Right-of-use assets Property,Right-of-use assets Property,plant andplant and(DKKm)Properties Vehicles Other Total equipment equipment Properties Vehicles Other Total Cost at 1 January 2,657 1,412 707 4,776 3,275 2,582 1,307 577 4,466 3,455 Foreign exchange adjustments 19 (2)(78)(61)(84) 4 (9)(35)(40)(39)Hyperinflation restatement 2 20 70 92 104 - 20 57 77 183 Additions 258 440 210 908 394 264 312 189 765 345 Acquisitions (5) - - (5)4 5 34 - 39 7 Divestments - (6) - (6)(6) - - - - (16)Disposals (236)(326)(88)(650)(395)(198)(252)(81)(531)(654)Reclass to Assets held for sale (180)(87)(71)(338)(159) - - - - -Reclass - - (15)(15)15 - - - - (6)Cost at 31 December 2,515 1,451 735 4,701 3,148 2,657 1,412 707 4,776 3,275 Depreciation at 1 January (1,272)(773)(328)(2,373)(2,358)(1,071)(669)(281)(2,021)(2,524)Foreign exchange adjustments (10) 1 32 23 51 (1) 7 19 25 30 Hyperinflation restatement - (7)(17)(24)(57) - (7)(13)(20)(107)Impairment (141)(36)(33)(210)(38) - - - - (22)Depreciation (392)(355)(159)(906)(347)(398)(356)(134)(888)(376)Divestments - 2 - 2 4 - - - - 15 Disposals 236 326 88 650 379 198 252 81 531 626 Reclass to Assets held for sale 180 82 60 322 159 - - - - - Reclass - - 15 15 (15) - - - - - Depreciation at 31 December (1,399)(760)(342)(2,501)(2,222)(1,272)(773)(328)(2,373)(2,358)Carrying amount at 31 December 1,116 691 393 2,200 926 1,385 639 379 2,403 917 Lease liabilities For carrying amount, see 4.2.1, Loans and borrowings. For maturity, see 4.5.1, Financial liabilities.Significant accounting judgementsLease term Several of ISS\u2019s lease contracts (office buildings) have no contractual fixed lease term or contains an extension option. Management exercises judgement in determining whether these extension options are reasonably certain to be exercised. Management considers all relevant facts and circumstances that create an economic incentive for the Group to exercise the extension option. The lease term for contracts without an end date is normally set to ten years for head office and accessory buildings, whereas all other leases with no definite end date are set to five years. Accounting policyRight-of-use assets are recognised at the com-mencement date of the lease and measured at cost less accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities, including extension options. Certain leases comprise a liability to dismantle or remove the asset or restore the facility. Cost related to such liability is recognised as part of the cost of the right-of-use asset. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful life of the asset.Estimated useful lifeProperties 5-10 yearsVehicles3-5 yearsOther equipment 2-5 yearsDepreciation methods, useful lives and residual values are reassessed at the reporting date.Certain leases have a term of 12 months or less or are leases of low-value assets, such as minor cleaning and IT equipment and office furniture. The recognition exemptions are applied for these leases and lease payments are recognised in Other operating expen-ses on a straight-line basis over the lease term.Property, plant and equipment is measured at cost, less accumulated depreciation and impair-ment losses.Certain assets comprise a liability to dismantle or remove the asset or restore the site. Cost related to such liability is recognised as part of the cost of the asset.Property, plant and equipment is depreciated on a straight-line basis over the estimated useful lives of the assets.Estimated useful lifePlant and equipment 3-10 yearsLeasehold improvements (lease term)3-10 yearsBuildings 20-40 yearsLandNot depreciatedDepreciation methods, useful lives and residual values are reassessed at the reporting date.Gains and losses arising on the disposal or retirement of property, plant and equipment are recognised in Other operating expenses in the year of sale, except gains and losses arising on disposal of property, which are recognised in Other income and expenses, net.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__66-1": {
"value": "2.6 Right-of-use assets and property, plant and equipment ISS is a people business operating based on an asset-light business model. Operating assets (leased and owned) comprised only 7% of the Group\u2019s total assets at 31 December 2023 (2022: 7%). Our model is mainly based on leasing, rather than owning, property, vehicles and equipment.2.6.1 Right-of-use assets At 31 December 2023, ISS was party to around 17,500 (2022: 18,500) lease agreements of which the majority related to vehicles. In terms of asset value, the main part related to property. Additions was DKK 908 million in 2023 (2022: DKK 765 million). The increase was mainly driven by new production equipment and vehicle leases in Belgium related to a new contract whereas other countries were broadly in line with 2022.Lease-related costs(DKKm)2023 2022Depreciation of right-of-use assets 879 830 Interest expenses on lease liabilities 121 78 Leases of low-value assets 138 182 Short-term leases 49 67 Variable lease payments 7 11 Recognised in profit or loss 1,194 1,168Hereof cash outflow 315 338 2.6.2 Property, plant and equipmentConsists mainly of production equipment and leasehold improvements. In 2023, additions of DKK 394 million (2022: DKK 345 million) primar-ily related to equipment for new and existing contracts, and leasehold improvements.20232022Right-of-use assets Property,Right-of-use assets Property,plant andplant and(DKKm)Properties Vehicles Other Total equipment equipment Properties Vehicles Other Total Cost at 1 January 2,657 1,412 707 4,776 3,275 2,582 1,307 577 4,466 3,455 Foreign exchange adjustments 19 (2)(78)(61)(84) 4 (9)(35)(40)(39)Hyperinflation restatement 2 20 70 92 104 - 20 57 77 183 Additions 258 440 210 908 394 264 312 189 765 345 Acquisitions (5) - - (5)4 5 34 - 39 7 Divestments - (6) - (6)(6) - - - - (16)Disposals (236)(326)(88)(650)(395)(198)(252)(81)(531)(654)Reclass to Assets held for sale (180)(87)(71)(338)(159) - - - - -Reclass - - (15)(15)15 - - - - (6)Cost at 31 December 2,515 1,451 735 4,701 3,148 2,657 1,412 707 4,776 3,275 Depreciation at 1 January (1,272)(773)(328)(2,373)(2,358)(1,071)(669)(281)(2,021)(2,524)Foreign exchange adjustments (10) 1 32 23 51 (1) 7 19 25 30 Hyperinflation restatement - (7)(17)(24)(57) - (7)(13)(20)(107)Impairment (141)(36)(33)(210)(38) - - - - (22)Depreciation (392)(355)(159)(906)(347)(398)(356)(134)(888)(376)Divestments - 2 - 2 4 - - - - 15 Disposals 236 326 88 650 379 198 252 81 531 626 Reclass to Assets held for sale 180 82 60 322 159 - - - - - Reclass - - 15 15 (15) - - - - - Depreciation at 31 December (1,399)(760)(342)(2,501)(2,222)(1,272)(773)(328)(2,373)(2,358)Carrying amount at 31 December 1,116 691 393 2,200 926 1,385 639 379 2,403 917 Lease liabilities For carrying amount, see 4.2.1, Loans and borrowings. For maturity, see 4.5.1, Financial liabilities.Significant accounting judgementsLease term Several of ISS\u2019s lease contracts (office buildings) have no contractual fixed lease term or contains an extension option. Management exercises judgement in determining whether these extension options are reasonably certain to be exercised. Management considers all relevant facts and circumstances that create an economic incentive for the Group to exercise the extension option. The lease term for contracts without an end date is normally set to ten years for head office and accessory buildings, whereas all other leases with no definite end date are set to five years. Accounting policyRight-of-use assets are recognised at the com-mencement date of the lease and measured at cost less accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities, including extension options. Certain leases comprise a liability to dismantle or remove the asset or restore the facility. Cost related to such liability is recognised as part of the cost of the right-of-use asset. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful life of the asset.Estimated useful lifeProperties 5-10 yearsVehicles3-5 yearsOther equipment 2-5 yearsDepreciation methods, useful lives and residual values are reassessed at the reporting date.Certain leases have a term of 12 months or less or are leases of low-value assets, such as minor cleaning and IT equipment and office furniture. The recognition exemptions are applied for these leases and lease payments are recognised in Other operating expen-ses on a straight-line basis over the lease term.Property, plant and equipment is measured at cost, less accumulated depreciation and impair-ment losses.Certain assets comprise a liability to dismantle or remove the asset or restore the site. Cost related to such liability is recognised as part of the cost of the asset.Property, plant and equipment is depreciated on a straight-line basis over the estimated useful lives of the assets.Estimated useful lifePlant and equipment 3-10 yearsLeasehold improvements (lease term)3-10 yearsBuildings 20-40 yearsLandNot depreciatedDepreciation methods, useful lives and residual values are reassessed at the reporting date.Gains and losses arising on the disposal or retirement of property, plant and equipment are recognised in Other operating expenses in the year of sale, except gains and losses arising on disposal of property, which are recognised in Other income and expenses, net.3.1 Intangible assets 20232022Customer Customer (DKKm)Goodwill Brands contracts Software TotalGoodwill Brands contracts Software TotalCost at 1 January 23,867 1,671 9,293 2,925 37,756 23,178 1,666 9,098 2,589 36,531 Foreign exchange adjustments (357)(2)(182)(4)(545)(112) 5 (107)(9)(223)Hyperinflation restatement 337 - 183 4 524 644 - 235 5 884 Additions - - - 315 315 - - - 454 454 Acquisitions 221 - 136 - 357 203 - 161 - 364 Divestments (6) - (12) - (18)(46) - (1)(2)(49)Disposals - - - (105)(105) - - (93)(118)(211)Reclass to Assets held for sale (3,119) - (690)(192)(4,001) - - - - - Reclass - - - - - - - - 6 6 Cost at 31 December 20,943 1,669 8,728 2,943 34,283 23,867 1,671 9,293 2,925 37,756 Amortisation/impairment at 1 January (3,417)(82)(8,436)(1,901)(13,836)(3,425)(74)(8,501)(1,792)(13,792)Foreign exchange adjustments (12) 2 19 0 9 8 (4) 38 8 50 Hyperinflation restatement - - (10)(2)(12) - - (2)(3)(5)Amortisation - - (69)(211)(280) - (4)(65)(207)(276)Impairment (937) - - (72)(1,009) - - - (24)(24)Divestments - - 12 - 12 - - 1 2 3 Disposals - - - 104 104 - - 93 115 208 Reclass to Assets held for sale 3,119 - 690 192 4,001 - - - - - Amortisation/impairment at 31 December (1,247)(80)(7,794)(1,890)(11,011)(3,417)(82)(8,436)(1,901)(13,836)Carrying amount at 31 December 19,696 1,589 934 1,053 23,272 20,450 1,589 857 1,024 23,920 Goodwill and customer contractsIn 2023, the Group acquired Grupo Fissa adding DKK 217 million to goodwill and DKK 136 million to customer contracts. Further details are provided in 3.3, Acquisitions. Goodwill relates mainly to assembled workforce, technical expertise and know how. In 2023, the goodwill impairment of DKK 937 million (2022: DKK 0 million) related to France, and recognised in Net profit from discontinued operations, see 3.2, Impairment tests.Brands The carrying amount of brands relates to the ISS brand, which is considered to have an indefinite useful life. Thus, the ISS brand is not amortised but tested for impairment annually, see 3.2, Impairment tests.Software In line with the Group\u2019s strategic ambition of becoming the technology leader in the industry, we continued investing in software, e.g. digital applications for our customers and employees as well as cybersecure infrastructure. In 2023, additions amounted to DKK 315 million (2022: DKK 454 million), the majority related to Group-wide systems and applications. In 2023, software included DKK 175 million related to assets under development at Group level (2022: DKK 133 million).Significant accounting judgementsCloud-based arrangement At the commencement date, management assesses whether the Group ac-quires an intangible asset, a leased asset or receives a service over the term of the contract. If the Group receives a right to access the cloud provider's appli-cation without further rights or control it is neither a lease nor an intangible asset. However, the Group may acquire an intangible asset if the Group has the contractual right to take possession of the software during the contract period without significant penal-ty and it is feasible for the Group to run the software on its own hardware or with another cloud provider.In SaaS (Software as a Service) arrangements, where the provider controls the software applica-tion, the assessment of whether configuration or customisation of the software results in an intan-gible asset for the Group depends on the output of the configuration or customisation activities performed. Part of the activities undertaken may entail the de-velopment of software code that enhances or mod-ifies, or creates additional capability to the existing on-premise software to enable it to connect with the cloud-based software applications. If activities are performed on the Group\u2019s infrastructure and applications, they likely represent assets that the Group controls because they enhance, improve or customise existing software assets.Accounting policyGoodwill and brands with indefinite useful lives (i.e. the ISS brand) are not amortised but recognised at cost less accumulated impairment losses. Acquisition-related customer contracts are rec-ognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.Software is measured at cost less accumulated am-ortisation and impairment losses. The cost of soft-ware developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other devel-opment costs for which it cannot be demonstrated that future economic benefits will flow to the Group are recognised in profit or loss.Amortisation is calculated on a straight-line basis over the estimated useful lives except for certain customer contracts where the unit of production method better reflects the expected pattern of consumption. Estimated useful lifeCustomer contracts 10-24 yearsSoftware 3-10 yearsAmortisation methods and useful lives are reas-sessed at the reporting date.Cloud-based arrangements Software within a cloud-based arrangement is recognised as either an intangible asset, a leased asset or as a service received (Software as a Service) based on the con-tract and facts and circumstances of the software. Software as a Service (SaaS) arrangements are service contracts providing the Group with the right to access a cloud provider's application software over the contract term.Costs incurred to configure or customise, and the ongoing fees to obtain access to the cloud provider\u2019s application software, are recognised as Other oper-ating expenses when the services are received. Also, internal costs such as costs related to selection of cloud provider, data conversion, training and testing are expensed in Other operating expenses.Configuration and customisation activities under-taken in implementing SaaS arrangements may give rise to a separate asset, i.e. the development of a software code that enhances, modifies or creates additional capability to the Group\u2019s existing on-prem-ise systems. Costs incurred for these activities are recognised as intangible assets if they meet the recognition criteria and amortised over the useful life of the software.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__65-1": {
"value": "2.6 Right-of-use assets and property, plant and equipment ISS is a people business operating based on an asset-light business model. Operating assets (leased and owned) comprised only 7% of the Group\u2019s total assets at 31 December 2023 (2022: 7%). Our model is mainly based on leasing, rather than owning, property, vehicles and equipment.2.6.1 Right-of-use assets At 31 December 2023, ISS was party to around 17,500 (2022: 18,500) lease agreements of which the majority related to vehicles. In terms of asset value, the main part related to property. Additions was DKK 908 million in 2023 (2022: DKK 765 million). The increase was mainly driven by new production equipment and vehicle leases in Belgium related to a new contract whereas other countries were broadly in line with 2022.Lease-related costs(DKKm)2023 2022Depreciation of right-of-use assets 879 830 Interest expenses on lease liabilities 121 78 Leases of low-value assets 138 182 Short-term leases 49 67 Variable lease payments 7 11 Recognised in profit or loss 1,194 1,168Hereof cash outflow 315 338 2.6.2 Property, plant and equipmentConsists mainly of production equipment and leasehold improvements. In 2023, additions of DKK 394 million (2022: DKK 345 million) primar-ily related to equipment for new and existing contracts, and leasehold improvements.20232022Right-of-use assets Property,Right-of-use assets Property,plant andplant and(DKKm)Properties Vehicles Other Total equipment equipment Properties Vehicles Other Total Cost at 1 January 2,657 1,412 707 4,776 3,275 2,582 1,307 577 4,466 3,455 Foreign exchange adjustments 19 (2)(78)(61)(84) 4 (9)(35)(40)(39)Hyperinflation restatement 2 20 70 92 104 - 20 57 77 183 Additions 258 440 210 908 394 264 312 189 765 345 Acquisitions (5) - - (5)4 5 34 - 39 7 Divestments - (6) - (6)(6) - - - - (16)Disposals (236)(326)(88)(650)(395)(198)(252)(81)(531)(654)Reclass to Assets held for sale (180)(87)(71)(338)(159) - - - - -Reclass - - (15)(15)15 - - - - (6)Cost at 31 December 2,515 1,451 735 4,701 3,148 2,657 1,412 707 4,776 3,275 Depreciation at 1 January (1,272)(773)(328)(2,373)(2,358)(1,071)(669)(281)(2,021)(2,524)Foreign exchange adjustments (10) 1 32 23 51 (1) 7 19 25 30 Hyperinflation restatement - (7)(17)(24)(57) - (7)(13)(20)(107)Impairment (141)(36)(33)(210)(38) - - - - (22)Depreciation (392)(355)(159)(906)(347)(398)(356)(134)(888)(376)Divestments - 2 - 2 4 - - - - 15 Disposals 236 326 88 650 379 198 252 81 531 626 Reclass to Assets held for sale 180 82 60 322 159 - - - - - Reclass - - 15 15 (15) - - - - - Depreciation at 31 December (1,399)(760)(342)(2,501)(2,222)(1,272)(773)(328)(2,373)(2,358)Carrying amount at 31 December 1,116 691 393 2,200 926 1,385 639 379 2,403 917 Lease liabilities For carrying amount, see 4.2.1, Loans and borrowings. For maturity, see 4.5.1, Financial liabilities.Significant accounting judgementsLease term Several of ISS\u2019s lease contracts (office buildings) have no contractual fixed lease term or contains an extension option. Management exercises judgement in determining whether these extension options are reasonably certain to be exercised. Management considers all relevant facts and circumstances that create an economic incentive for the Group to exercise the extension option. The lease term for contracts without an end date is normally set to ten years for head office and accessory buildings, whereas all other leases with no definite end date are set to five years. Accounting policyRight-of-use assets are recognised at the com-mencement date of the lease and measured at cost less accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities, including extension options. Certain leases comprise a liability to dismantle or remove the asset or restore the facility. Cost related to such liability is recognised as part of the cost of the right-of-use asset. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful life of the asset.Estimated useful lifeProperties 5-10 yearsVehicles3-5 yearsOther equipment 2-5 yearsDepreciation methods, useful lives and residual values are reassessed at the reporting date.Certain leases have a term of 12 months or less or are leases of low-value assets, such as minor cleaning and IT equipment and office furniture. The recognition exemptions are applied for these leases and lease payments are recognised in Other operating expen-ses on a straight-line basis over the lease term.Property, plant and equipment is measured at cost, less accumulated depreciation and impair-ment losses.Certain assets comprise a liability to dismantle or remove the asset or restore the site. Cost related to such liability is recognised as part of the cost of the asset.Property, plant and equipment is depreciated on a straight-line basis over the estimated useful lives of the assets.Estimated useful lifePlant and equipment 3-10 yearsLeasehold improvements (lease term)3-10 yearsBuildings 20-40 yearsLandNot depreciatedDepreciation methods, useful lives and residual values are reassessed at the reporting date.Gains and losses arising on the disposal or retirement of property, plant and equipment are recognised in Other operating expenses in the year of sale, except gains and losses arising on disposal of property, which are recognised in Other income and expenses, net.3.1 Intangible assets 20232022Customer Customer (DKKm)Goodwill Brands contracts Software TotalGoodwill Brands contracts Software TotalCost at 1 January 23,867 1,671 9,293 2,925 37,756 23,178 1,666 9,098 2,589 36,531 Foreign exchange adjustments (357)(2)(182)(4)(545)(112) 5 (107)(9)(223)Hyperinflation restatement 337 - 183 4 524 644 - 235 5 884 Additions - - - 315 315 - - - 454 454 Acquisitions 221 - 136 - 357 203 - 161 - 364 Divestments (6) - (12) - (18)(46) - (1)(2)(49)Disposals - - - (105)(105) - - (93)(118)(211)Reclass to Assets held for sale (3,119) - (690)(192)(4,001) - - - - - Reclass - - - - - - - - 6 6 Cost at 31 December 20,943 1,669 8,728 2,943 34,283 23,867 1,671 9,293 2,925 37,756 Amortisation/impairment at 1 January (3,417)(82)(8,436)(1,901)(13,836)(3,425)(74)(8,501)(1,792)(13,792)Foreign exchange adjustments (12) 2 19 0 9 8 (4) 38 8 50 Hyperinflation restatement - - (10)(2)(12) - - (2)(3)(5)Amortisation - - (69)(211)(280) - (4)(65)(207)(276)Impairment (937) - - (72)(1,009) - - - (24)(24)Divestments - - 12 - 12 - - 1 2 3 Disposals - - - 104 104 - - 93 115 208 Reclass to Assets held for sale 3,119 - 690 192 4,001 - - - - - Amortisation/impairment at 31 December (1,247)(80)(7,794)(1,890)(11,011)(3,417)(82)(8,436)(1,901)(13,836)Carrying amount at 31 December 19,696 1,589 934 1,053 23,272 20,450 1,589 857 1,024 23,920 Goodwill and customer contractsIn 2023, the Group acquired Grupo Fissa adding DKK 217 million to goodwill and DKK 136 million to customer contracts. Further details are provided in 3.3, Acquisitions. Goodwill relates mainly to assembled workforce, technical expertise and know how. In 2023, the goodwill impairment of DKK 937 million (2022: DKK 0 million) related to France, and recognised in Net profit from discontinued operations, see 3.2, Impairment tests.Brands The carrying amount of brands relates to the ISS brand, which is considered to have an indefinite useful life. Thus, the ISS brand is not amortised but tested for impairment annually, see 3.2, Impairment tests.Software In line with the Group\u2019s strategic ambition of becoming the technology leader in the industry, we continued investing in software, e.g. digital applications for our customers and employees as well as cybersecure infrastructure. In 2023, additions amounted to DKK 315 million (2022: DKK 454 million), the majority related to Group-wide systems and applications. In 2023, software included DKK 175 million related to assets under development at Group level (2022: DKK 133 million).Significant accounting judgementsCloud-based arrangement At the commencement date, management assesses whether the Group ac-quires an intangible asset, a leased asset or receives a service over the term of the contract. If the Group receives a right to access the cloud provider's appli-cation without further rights or control it is neither a lease nor an intangible asset. However, the Group may acquire an intangible asset if the Group has the contractual right to take possession of the software during the contract period without significant penal-ty and it is feasible for the Group to run the software on its own hardware or with another cloud provider.In SaaS (Software as a Service) arrangements, where the provider controls the software applica-tion, the assessment of whether configuration or customisation of the software results in an intan-gible asset for the Group depends on the output of the configuration or customisation activities performed. Part of the activities undertaken may entail the de-velopment of software code that enhances or mod-ifies, or creates additional capability to the existing on-premise software to enable it to connect with the cloud-based software applications. If activities are performed on the Group\u2019s infrastructure and applications, they likely represent assets that the Group controls because they enhance, improve or customise existing software assets.Accounting policyGoodwill and brands with indefinite useful lives (i.e. the ISS brand) are not amortised but recognised at cost less accumulated impairment losses. Acquisition-related customer contracts are rec-ognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.Software is measured at cost less accumulated am-ortisation and impairment losses. The cost of soft-ware developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other devel-opment costs for which it cannot be demonstrated that future economic benefits will flow to the Group are recognised in profit or loss.Amortisation is calculated on a straight-line basis over the estimated useful lives except for certain customer contracts where the unit of production method better reflects the expected pattern of consumption. Estimated useful lifeCustomer contracts 10-24 yearsSoftware 3-10 yearsAmortisation methods and useful lives are reas-sessed at the reporting date.Cloud-based arrangements Software within a cloud-based arrangement is recognised as either an intangible asset, a leased asset or as a service received (Software as a Service) based on the con-tract and facts and circumstances of the software. Software as a Service (SaaS) arrangements are service contracts providing the Group with the right to access a cloud provider's application software over the contract term.Costs incurred to configure or customise, and the ongoing fees to obtain access to the cloud provider\u2019s application software, are recognised as Other oper-ating expenses when the services are received. Also, internal costs such as costs related to selection of cloud provider, data conversion, training and testing are expensed in Other operating expenses.Configuration and customisation activities under-taken in implementing SaaS arrangements may give rise to a separate asset, i.e. the development of a software code that enhances, modifies or creates additional capability to the Group\u2019s existing on-prem-ise systems. Costs incurred for these activities are recognised as intangible assets if they meet the recognition criteria and amortised over the useful life of the software.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__74": {
"value": "2.7 Free cash flow Free cash flow as defined by management, see 8.5, Definitions, is summarised below. Free cash flow is not a financial performance measure defined by IFRS. Accordingly, the measure and its calculation is presented as it is used by management as an alternative performance measure in managing the business. The free cash flow measure should not be considered a substitute for those measures required by IFRS and may not be calculated by other companies in the same manner. As such, reference is made to the IFRS measures included in the consolidated statement of cash flows of the consolidated financial statements. (DKKm)2023 2022Cash flow from operating activities 3,392 3,333 Acquisition of intangible assets and property, plant and equipment (719)(809)Disposal of intangible assets and property, plant and equipment 16 30 \u20091)Change in financial assets(6)(51)Addition of right-of-use assets, net(908)(769)Free cash flow 1,775 1,734 1) Excluding changes in equity-accounted investees which in 2023 was DKK (15) million (2022: DKK (22) million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__73": {
"value": "Accounting policyRight-of-use assets are recognised at the com-mencement date of the lease and measured at cost less accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities, including extension options. Certain leases comprise a liability to dismantle or remove the asset or restore the facility. Cost related to such liability is recognised as part of the cost of the right-of-use asset. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful life of the asset.Estimated useful lifeProperties 5-10 yearsVehicles3-5 yearsOther equipment 2-5 yearsDepreciation methods, useful lives and residual values are reassessed at the reporting date.Certain leases have a term of 12 months or less or are leases of low-value assets, such as minor cleaning and IT equipment and office furniture. The recognition exemptions are applied for these leases and lease payments are recognised in Other operating expen-ses on a straight-line basis over the lease term.Property, plant and equipment is measured at cost, less accumulated depreciation and impair-ment losses.Certain assets comprise a liability to dismantle or remove the asset or restore the site. Cost related to such liability is recognised as part of the cost of the asset.Property, plant and equipment is depreciated on a straight-line basis over the estimated useful lives of the assets.Estimated useful lifePlant and equipment 3-10 yearsLeasehold improvements (lease term)3-10 yearsBuildings 20-40 yearsLandNot depreciatedDepreciation methods, useful lives and residual values are reassessed at the reporting date.Gains and losses arising on the disposal or retirement of property, plant and equipment are recognised in Other operating expenses in the year of sale, except gains and losses arising on disposal of property, which are recognised in Other income and expenses, net.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__71": {
"value": "Accounting policyRight-of-use assets are recognised at the com-mencement date of the lease and measured at cost less accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities, including extension options. Certain leases comprise a liability to dismantle or remove the asset or restore the facility. Cost related to such liability is recognised as part of the cost of the right-of-use asset. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful life of the asset.Estimated useful lifeProperties 5-10 yearsVehicles3-5 yearsOther equipment 2-5 yearsDepreciation methods, useful lives and residual values are reassessed at the reporting date.Certain leases have a term of 12 months or less or are leases of low-value assets, such as minor cleaning and IT equipment and office furniture. The recognition exemptions are applied for these leases and lease payments are recognised in Other operating expen-ses on a straight-line basis over the lease term.Property, plant and equipment is measured at cost, less accumulated depreciation and impair-ment losses.Certain assets comprise a liability to dismantle or remove the asset or restore the site. Cost related to such liability is recognised as part of the cost of the asset.Property, plant and equipment is depreciated on a straight-line basis over the estimated useful lives of the assets.Estimated useful lifePlant and equipment 3-10 yearsLeasehold improvements (lease term)3-10 yearsBuildings 20-40 yearsLandNot depreciatedDepreciation methods, useful lives and residual values are reassessed at the reporting date.Gains and losses arising on the disposal or retirement of property, plant and equipment are recognised in Other operating expenses in the year of sale, except gains and losses arising on disposal of property, which are recognised in Other income and expenses, net.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__78-1": {
"value": "3.1 Intangible assets 20232022Customer Customer (DKKm)Goodwill Brands contracts Software TotalGoodwill Brands contracts Software TotalCost at 1 January 23,867 1,671 9,293 2,925 37,756 23,178 1,666 9,098 2,589 36,531 Foreign exchange adjustments (357)(2)(182)(4)(545)(112) 5 (107)(9)(223)Hyperinflation restatement 337 - 183 4 524 644 - 235 5 884 Additions - - - 315 315 - - - 454 454 Acquisitions 221 - 136 - 357 203 - 161 - 364 Divestments (6) - (12) - (18)(46) - (1)(2)(49)Disposals - - - (105)(105) - - (93)(118)(211)Reclass to Assets held for sale (3,119) - (690)(192)(4,001) - - - - - Reclass - - - - - - - - 6 6 Cost at 31 December 20,943 1,669 8,728 2,943 34,283 23,867 1,671 9,293 2,925 37,756 Amortisation/impairment at 1 January (3,417)(82)(8,436)(1,901)(13,836)(3,425)(74)(8,501)(1,792)(13,792)Foreign exchange adjustments (12) 2 19 0 9 8 (4) 38 8 50 Hyperinflation restatement - - (10)(2)(12) - - (2)(3)(5)Amortisation - - (69)(211)(280) - (4)(65)(207)(276)Impairment (937) - - (72)(1,009) - - - (24)(24)Divestments - - 12 - 12 - - 1 2 3 Disposals - - - 104 104 - - 93 115 208 Reclass to Assets held for sale 3,119 - 690 192 4,001 - - - - - Amortisation/impairment at 31 December (1,247)(80)(7,794)(1,890)(11,011)(3,417)(82)(8,436)(1,901)(13,836)Carrying amount at 31 December 19,696 1,589 934 1,053 23,272 20,450 1,589 857 1,024 23,920 Goodwill and customer contractsIn 2023, the Group acquired Grupo Fissa adding DKK 217 million to goodwill and DKK 136 million to customer contracts. Further details are provided in 3.3, Acquisitions. Goodwill relates mainly to assembled workforce, technical expertise and know how. In 2023, the goodwill impairment of DKK 937 million (2022: DKK 0 million) related to France, and recognised in Net profit from discontinued operations, see 3.2, Impairment tests.Brands The carrying amount of brands relates to the ISS brand, which is considered to have an indefinite useful life. Thus, the ISS brand is not amortised but tested for impairment annually, see 3.2, Impairment tests.Software In line with the Group\u2019s strategic ambition of becoming the technology leader in the industry, we continued investing in software, e.g. digital applications for our customers and employees as well as cybersecure infrastructure. In 2023, additions amounted to DKK 315 million (2022: DKK 454 million), the majority related to Group-wide systems and applications. In 2023, software included DKK 175 million related to assets under development at Group level (2022: DKK 133 million).Significant accounting judgementsCloud-based arrangement At the commencement date, management assesses whether the Group ac-quires an intangible asset, a leased asset or receives a service over the term of the contract. If the Group receives a right to access the cloud provider's appli-cation without further rights or control it is neither a lease nor an intangible asset. However, the Group may acquire an intangible asset if the Group has the contractual right to take possession of the software during the contract period without significant penal-ty and it is feasible for the Group to run the software on its own hardware or with another cloud provider.In SaaS (Software as a Service) arrangements, where the provider controls the software applica-tion, the assessment of whether configuration or customisation of the software results in an intan-gible asset for the Group depends on the output of the configuration or customisation activities performed. Part of the activities undertaken may entail the de-velopment of software code that enhances or mod-ifies, or creates additional capability to the existing on-premise software to enable it to connect with the cloud-based software applications. If activities are performed on the Group\u2019s infrastructure and applications, they likely represent assets that the Group controls because they enhance, improve or customise existing software assets.Accounting policyGoodwill and brands with indefinite useful lives (i.e. the ISS brand) are not amortised but recognised at cost less accumulated impairment losses. Acquisition-related customer contracts are rec-ognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.Software is measured at cost less accumulated am-ortisation and impairment losses. The cost of soft-ware developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other devel-opment costs for which it cannot be demonstrated that future economic benefits will flow to the Group are recognised in profit or loss.Amortisation is calculated on a straight-line basis over the estimated useful lives except for certain customer contracts where the unit of production method better reflects the expected pattern of consumption. Estimated useful lifeCustomer contracts 10-24 yearsSoftware 3-10 yearsAmortisation methods and useful lives are reas-sessed at the reporting date.Cloud-based arrangements Software within a cloud-based arrangement is recognised as either an intangible asset, a leased asset or as a service received (Software as a Service) based on the con-tract and facts and circumstances of the software. Software as a Service (SaaS) arrangements are service contracts providing the Group with the right to access a cloud provider's application software over the contract term.Costs incurred to configure or customise, and the ongoing fees to obtain access to the cloud provider\u2019s application software, are recognised as Other oper-ating expenses when the services are received. Also, internal costs such as costs related to selection of cloud provider, data conversion, training and testing are expensed in Other operating expenses.Configuration and customisation activities under-taken in implementing SaaS arrangements may give rise to a separate asset, i.e. the development of a software code that enhances, modifies or creates additional capability to the Group\u2019s existing on-prem-ise systems. Costs incurred for these activities are recognised as intangible assets if they meet the recognition criteria and amortised over the useful life of the software.3.3 Acquisitions 3.3.1 Acquisition impact Grupo Fissa On 14 September 2023, ISS acquired 100% of the shares in Grupo Fissa in Spain. The acquisition strengthens our market position in Spain and enables us to expand and develop our cleaning service offering to public sector customers, predominantly in Southern Spain. The acquisition adds annual revenue of approximately DKK 745 million and more than 6,000 employees (estimated based on unaudited financial information). Since completion of the acquisition, Grupo Fissa contributed revenue of DKK 254 million to the ISS Group.The purchase consideration amounted to DKK 404 million of which DKK 22 million are contingent upon certain conditions being fulfilled, mainly related to the recoverability of certain receivables. Due to the short time between completion of the acquisition and finalisation of these consolidated financial statements, the Group has not yet com-pleted the acquisition accounting. Consequently, the fair value of certain assets and liabilities such as deferred revenue and provisions has been determined provisionally based on manage-ment\u2019s best estimates as the necessary analyses and calculations could not be completed.Goodwill amounted to DKK 217 million and is attributable mainly to: 1) platform for growth primarily in Southern Spain, 2) synergies and scale, 3) expertise and know-how in the Healthcare, Education and Public administration segment, and 4) assembled workforce. Goodwill is deductible for tax purposes.Net assets and cash flow impactGrupo Prior (DKKm)Fissayear adj. 2023 2022Customer contracts 136 - 136 161 Other non-current assets 90 (7) 83 48 Trade receivables 200 - 200 (3)Other current assets 205 - 205 50 Non-current liabilities(90) 4 (86)(68)Current liabilities(354) (1) (355)(48)Fair value of net assets 187 (4) 183 140 Goodwill 217 4 221 203 Consideration transferred 404 - 404 343 Cash in acquired business(9) - (9)(33)Consideration transferred, net 395 - 395 310 Contingent and deferred consideration(22) - (22) 15 Acquisition (cash flow) 373 - 373 325 Accounting policyBusiness combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling interests in the acquiree. For each business com-bination, the Group elects whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. Acquisition-related costs are expensed as incurred and presented in Other income and expenses, net.Contingent consideration to be transferred by the ac-quirer is recognised at fair value at the acquisition date.If uncertainties exist at the acquisition date re-garding identification or measurement of assets, liabilities and contingent liabilities, initial recognition is based on provisionally determined fair values. Changes to fair values are adjusted against goodwill up until 12 months after the acquisition date. Comparatives are restated accordingly. Changes in fair values after 12 months are recognised in Other income and expenses, net. Goodwill is initially measured at cost being the excess of the consideration transferred over the net identifiable assets acquired and liabilities assumed. After initial recognition, goodwill is measured at cost less accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the Group\u2019s cash-generating units (CGUs) that are expected to benefit from the combination.Prior years adjustments Prior year adjustments related to the acquisition of Livit FM Services AG in Switzerland in 2022.3.3.2 Subsequent acquisitionsThe Group completed no acquisitions from 1 January to 15 February 2024.3.3.3 Pro forma revenue and operating profit Assuming acquisitions/divestments in the year were included/excluded in profit or loss from 1 January 2023, revenue on a pro forma basis would have been DKK 79,073 million compared to reported revenue of DKK 78,681 million. Likewise, operating profit before other items on a pro forma basis would have been DKK 3,318 million compared to reported operating profit before other items of DKK 3,300 million. Pro forma revenue and operating profit before other items include adjustments relating to acquisitions/divestments estimated by local ISS management at the time of acquisition/divestment or actual results where available. The estimates are based on unaudited financial information.",
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"s8_notesesefdkgaap__7__77": {
"value": "3.1 Intangible assets 20232022Customer Customer (DKKm)Goodwill Brands contracts Software TotalGoodwill Brands contracts Software TotalCost at 1 January 23,867 1,671 9,293 2,925 37,756 23,178 1,666 9,098 2,589 36,531 Foreign exchange adjustments (357)(2)(182)(4)(545)(112) 5 (107)(9)(223)Hyperinflation restatement 337 - 183 4 524 644 - 235 5 884 Additions - - - 315 315 - - - 454 454 Acquisitions 221 - 136 - 357 203 - 161 - 364 Divestments (6) - (12) - (18)(46) - (1)(2)(49)Disposals - - - (105)(105) - - (93)(118)(211)Reclass to Assets held for sale (3,119) - (690)(192)(4,001) - - - - - Reclass - - - - - - - - 6 6 Cost at 31 December 20,943 1,669 8,728 2,943 34,283 23,867 1,671 9,293 2,925 37,756 Amortisation/impairment at 1 January (3,417)(82)(8,436)(1,901)(13,836)(3,425)(74)(8,501)(1,792)(13,792)Foreign exchange adjustments (12) 2 19 0 9 8 (4) 38 8 50 Hyperinflation restatement - - (10)(2)(12) - - (2)(3)(5)Amortisation - - (69)(211)(280) - (4)(65)(207)(276)Impairment (937) - - (72)(1,009) - - - (24)(24)Divestments - - 12 - 12 - - 1 2 3 Disposals - - - 104 104 - - 93 115 208 Reclass to Assets held for sale 3,119 - 690 192 4,001 - - - - - Amortisation/impairment at 31 December (1,247)(80)(7,794)(1,890)(11,011)(3,417)(82)(8,436)(1,901)(13,836)Carrying amount at 31 December 19,696 1,589 934 1,053 23,272 20,450 1,589 857 1,024 23,920 Goodwill and customer contractsIn 2023, the Group acquired Grupo Fissa adding DKK 217 million to goodwill and DKK 136 million to customer contracts. Further details are provided in 3.3, Acquisitions. Goodwill relates mainly to assembled workforce, technical expertise and know how. In 2023, the goodwill impairment of DKK 937 million (2022: DKK 0 million) related to France, and recognised in Net profit from discontinued operations, see 3.2, Impairment tests.Brands The carrying amount of brands relates to the ISS brand, which is considered to have an indefinite useful life. Thus, the ISS brand is not amortised but tested for impairment annually, see 3.2, Impairment tests.Software In line with the Group\u2019s strategic ambition of becoming the technology leader in the industry, we continued investing in software, e.g. digital applications for our customers and employees as well as cybersecure infrastructure. In 2023, additions amounted to DKK 315 million (2022: DKK 454 million), the majority related to Group-wide systems and applications. In 2023, software included DKK 175 million related to assets under development at Group level (2022: DKK 133 million).Significant accounting judgementsCloud-based arrangement At the commencement date, management assesses whether the Group ac-quires an intangible asset, a leased asset or receives a service over the term of the contract. If the Group receives a right to access the cloud provider's appli-cation without further rights or control it is neither a lease nor an intangible asset. However, the Group may acquire an intangible asset if the Group has the contractual right to take possession of the software during the contract period without significant penal-ty and it is feasible for the Group to run the software on its own hardware or with another cloud provider.In SaaS (Software as a Service) arrangements, where the provider controls the software applica-tion, the assessment of whether configuration or customisation of the software results in an intan-gible asset for the Group depends on the output of the configuration or customisation activities performed. Part of the activities undertaken may entail the de-velopment of software code that enhances or mod-ifies, or creates additional capability to the existing on-premise software to enable it to connect with the cloud-based software applications. If activities are performed on the Group\u2019s infrastructure and applications, they likely represent assets that the Group controls because they enhance, improve or customise existing software assets.Accounting policyGoodwill and brands with indefinite useful lives (i.e. the ISS brand) are not amortised but recognised at cost less accumulated impairment losses. Acquisition-related customer contracts are rec-ognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.Software is measured at cost less accumulated am-ortisation and impairment losses. The cost of soft-ware developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other devel-opment costs for which it cannot be demonstrated that future economic benefits will flow to the Group are recognised in profit or loss.Amortisation is calculated on a straight-line basis over the estimated useful lives except for certain customer contracts where the unit of production method better reflects the expected pattern of consumption. Estimated useful lifeCustomer contracts 10-24 yearsSoftware 3-10 yearsAmortisation methods and useful lives are reas-sessed at the reporting date.Cloud-based arrangements Software within a cloud-based arrangement is recognised as either an intangible asset, a leased asset or as a service received (Software as a Service) based on the con-tract and facts and circumstances of the software. Software as a Service (SaaS) arrangements are service contracts providing the Group with the right to access a cloud provider's application software over the contract term.Costs incurred to configure or customise, and the ongoing fees to obtain access to the cloud provider\u2019s application software, are recognised as Other oper-ating expenses when the services are received. Also, internal costs such as costs related to selection of cloud provider, data conversion, training and testing are expensed in Other operating expenses.Configuration and customisation activities under-taken in implementing SaaS arrangements may give rise to a separate asset, i.e. the development of a software code that enhances, modifies or creates additional capability to the Group\u2019s existing on-prem-ise systems. Costs incurred for these activities are recognised as intangible assets if they meet the recognition criteria and amortised over the useful life of the software.",
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"s8_notesesefdkgaap__7__81": {
"value": "Accounting policyGoodwill and brands with indefinite useful lives (i.e. the ISS brand) are not amortised but recognised at cost less accumulated impairment losses. Acquisition-related customer contracts are rec-ognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.Software is measured at cost less accumulated am-ortisation and impairment losses. The cost of soft-ware developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other devel-opment costs for which it cannot be demonstrated that future economic benefits will flow to the Group are recognised in profit or loss.Amortisation is calculated on a straight-line basis over the estimated useful lives except for certain customer contracts where the unit of production method better reflects the expected pattern of consumption. Estimated useful lifeCustomer contracts 10-24 yearsSoftware 3-10 yearsAmortisation methods and useful lives are reas-sessed at the reporting date.Cloud-based arrangements Software within a cloud-based arrangement is recognised as either an intangible asset, a leased asset or as a service received (Software as a Service) based on the con-tract and facts and circumstances of the software. Software as a Service (SaaS) arrangements are service contracts providing the Group with the right to access a cloud provider's application software over the contract term.Costs incurred to configure or customise, and the ongoing fees to obtain access to the cloud provider\u2019s application software, are recognised as Other oper-ating expenses when the services are received. Also, internal costs such as costs related to selection of cloud provider, data conversion, training and testing are expensed in Other operating expenses.Configuration and customisation activities under-taken in implementing SaaS arrangements may give rise to a separate asset, i.e. the development of a software code that enhances, modifies or creates additional capability to the Group\u2019s existing on-prem-ise systems. Costs incurred for these activities are recognised as intangible assets if they meet the recognition criteria and amortised over the useful life of the software.",
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"s8_notesesefdkgaap__7__80": {
"value": "Accounting policyGoodwill and brands with indefinite useful lives (i.e. the ISS brand) are not amortised but recognised at cost less accumulated impairment losses. Acquisition-related customer contracts are rec-ognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.Software is measured at cost less accumulated am-ortisation and impairment losses. The cost of soft-ware developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other devel-opment costs for which it cannot be demonstrated that future economic benefits will flow to the Group are recognised in profit or loss.Amortisation is calculated on a straight-line basis over the estimated useful lives except for certain customer contracts where the unit of production method better reflects the expected pattern of consumption. Estimated useful lifeCustomer contracts 10-24 yearsSoftware 3-10 yearsAmortisation methods and useful lives are reas-sessed at the reporting date.Cloud-based arrangements Software within a cloud-based arrangement is recognised as either an intangible asset, a leased asset or as a service received (Software as a Service) based on the con-tract and facts and circumstances of the software. Software as a Service (SaaS) arrangements are service contracts providing the Group with the right to access a cloud provider's application software over the contract term.Costs incurred to configure or customise, and the ongoing fees to obtain access to the cloud provider\u2019s application software, are recognised as Other oper-ating expenses when the services are received. Also, internal costs such as costs related to selection of cloud provider, data conversion, training and testing are expensed in Other operating expenses.Configuration and customisation activities under-taken in implementing SaaS arrangements may give rise to a separate asset, i.e. the development of a software code that enhances, modifies or creates additional capability to the Group\u2019s existing on-prem-ise systems. Costs incurred for these activities are recognised as intangible assets if they meet the recognition criteria and amortised over the useful life of the software.",
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"s8_notesesefdkgaap__7__79": {
"value": "Accounting policyGoodwill and brands with indefinite useful lives (i.e. the ISS brand) are not amortised but recognised at cost less accumulated impairment losses. Acquisition-related customer contracts are rec-ognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.Software is measured at cost less accumulated am-ortisation and impairment losses. The cost of soft-ware developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other devel-opment costs for which it cannot be demonstrated that future economic benefits will flow to the Group are recognised in profit or loss.Amortisation is calculated on a straight-line basis over the estimated useful lives except for certain customer contracts where the unit of production method better reflects the expected pattern of consumption. Estimated useful lifeCustomer contracts 10-24 yearsSoftware 3-10 yearsAmortisation methods and useful lives are reas-sessed at the reporting date.Cloud-based arrangements Software within a cloud-based arrangement is recognised as either an intangible asset, a leased asset or as a service received (Software as a Service) based on the con-tract and facts and circumstances of the software. Software as a Service (SaaS) arrangements are service contracts providing the Group with the right to access a cloud provider's application software over the contract term.Costs incurred to configure or customise, and the ongoing fees to obtain access to the cloud provider\u2019s application software, are recognised as Other oper-ating expenses when the services are received. Also, internal costs such as costs related to selection of cloud provider, data conversion, training and testing are expensed in Other operating expenses.Configuration and customisation activities under-taken in implementing SaaS arrangements may give rise to a separate asset, i.e. the development of a software code that enhances, modifies or creates additional capability to the Group\u2019s existing on-prem-ise systems. Costs incurred for these activities are recognised as intangible assets if they meet the recognition criteria and amortised over the useful life of the software.",
"dimensions": {
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"s8_notesesefdkgaap__7__82": {
"value": "3.2 Impairment tests3.2.1 Impairment test results The impairment tests of goodwill, customer con-tracts and brands performed at 31 December 2023 did not result in recognition of impairment losses (2022: no impairment losses). It is management\u2019s view that excess values in the Group\u2019s CGUs are fairly resilient to any likely and reasonable deteriora-tions in the key assumptions applied, see sensitivity analyses in 3.2.2, Goodwill and customer contracts.France In the first six months of 2023, ISS worked dili-gently on implementing the business improve-ment plan from December 2022. However, in evaluating the H1 2023 operational performance and the status of the business, it was concluded that significant profitability improvements could not be achieved on a stand-alone basis without further restructurings and additional investments. Accordingly, management lowered its expectations in the forecasting and terminal period as explained in note 7, Impairment tests in the Interim Report for H1 2023. This resulted in recognition of an impairment loss at 30 June 2023 amounting to DKK 1,257 million of which DKK 937 million related to goodwill and DKK 320 million related to other non-monetary assets.Subsequently, on 9 August 2023 ISS announced its intention to divest ISS France resulting in reclassification as held for sale and discontinued operations as of this date. Consequently, results of ISS France, including the impairment loss recognised at 30 June 2023, was reclassified to \u201cNet profit from discontinued operations\u201d in the profit or loss statement, see 3.4, Discontinued operations, assets held for sale and divestments for additional information.T\u00fcrkiyeIn 2023, ISS T\u00fcrkiye continued to perform well in terms of revenue growth, operating margin and improved free cash flow despite the difficult macroeconomic environment with continued high inflation and significantly increasing interest rates. However, due to the IAS 29 hyperinflation adjustments goodwill and customer contracts also continued to increase significantly. At 31 December 2023, intangibles amounted to DKK 1.3 billion of which DKK 1.0 billion was attributable to hyperinflation.As a result of the highly unusual macroeconomic situation, the normal Group methodology of applying a constant WACC rate in both the fore-casting and terminal period, would lead to an understatement of the value in use (especially in the terminal period) due to the disproportionate negative gap between the risk-free interest rate and the consistently applied terminal growth rate. Instead, the Group has applied a nor-malised WACC rate in the terminal period, while the WACC applied in the forecasting period con-tinues to be determined based on the normal Group methodology. Given the circumstances, it is management\u2019s view that this is more appropri-ate and leads to a more reasonable estimate of the value in use in T\u00fcrkiye. Significant accountingestimatesIn performing the impairment test, management assesses whether the CGU to which the goodwill relates will be able to generate positive net cash flows sufficient to support the value of intangibles and other non-current assets. The assessment is based on estimates of expected future cash flows (value in use) for the individual GCU, which by nature are uncertain. Estimates are based on financial forecasts for the following year as approved by management, and estimated discount rates, growth and market developments. Assumptions applied in the short to medium term (forecasting period of five years) as well as terminal growth rates and margins applied are described in 3.2.4, Determining value in use.The outcome of the impairment test may vary significantly should the assumptions, estimates and judgements not be realised as expected and applied as basis for management\u2019s conclusion of whether impairment of a CGU has occurred.Accounting policyThe Group performs impairment test of goodwill and the ISS brand at the reporting date or when indications of impairment exist. Other non-cur-rent assets are tested annually for indications of impairment.When performing the impairment test, the recoverable amount of the asset is determined, i.e. the higher of the fair value of the asset less anticipated costs of disposal and its value in use. The value in use is calculated as the present value of expected future cash flows from the asset or the CGU to which the asset belongs.Impairment of goodwill is recognised in the statement of profit or loss in a separate line if the carrying amount of an asset or CGU exceeds its estimated recoverable amount. The carrying amount of goodwill is tested for impairment together with the other non-current assets in the CGU to which goodwill is allocated.Impairment of goodwill is not reversed. Impair-ment of other assets is reversed if estimates used to calculate the recoverable amount have been changed. An impairment loss is reversed to the extent that the carrying amount does not exceed the carrying amount that would have been deter-mined, net of depreciation and amortisation, if no impairment loss had been recognised. Management believes that the value of the ISS brand supports the ISS Group in its entirety rather than any individual CGU. Accordingly, the ISS brand is tested for impairment at Group level. The impairment test is based on group-wide cash flows adjusted for the Group\u2019s total goodwill and other non-current assets.3.2.2 Goodwill and customer contractsThe carrying amounts of intangibles for CGUs representing more than 5% of intangibles are disclosed in the table to the right together with a sensitivity analysis on the key assumptions in the impairment testing.Sensitivity analysis The allowed change represents the percentage points by which the specific key assumption can change, all other things being equal, before the CGU\u2019s recoverable amount equals its carrying amount.Forecasting period Terminal period 1) 2)Carrying amount Growth MarginGrowthMarginDiscount rateGood-Customer Allowed Allowed Allowed Allowed Net of Allowed Pre-(DKKm)willcontractsTotal Avg.decrease Avg.decrease Ratedecrease Ratedecreasetaxincreasetax2023UK & Ireland 2,617 88 2,705 3.0% >3.0% 5.4% >5.4% 2.5% >2.5% 6.0% 3.5% 10.4% 6.5% 13.7% US & Canada 2,125 134 2,259 4.3% >4.3% 6.0% >6.0% 3.0% >3.0% 6.0% 3.4% 10.9% 7.1% 14.1% Finland 2,102 - 2,102 2.6% >2.6% 6.2% >6.2% 2.5% 2.5% 6.2% 1.8% 8.6% 1.9% 10.4% Switzerland 1,708 156 1,864 1.9% >1.9% 7.8% >7.8% 2.0% >2.0% 7.8% 7.4% 6.9% >6.9% 8.1% Denmark 1,620 - 1,620 2.1% >2.1% 5.3% >5.3% 2.0% >2.0% 6.0% 2.0% 9.3% 2.6% 11.6% Belgium & Lux. 1,322 - 1,322 2.9% >2.9% 6.5% >6.5% 2.5% >2.5% 6.5% 4.0% 9.2% 6.5% 11.8% Spain 1,157 132 1,289 4.5% >4.5% 6.4% >6.4% 2.5% >2.5% 6.5% 4.6% 9.0% 8.7% 11.5% Australia & NZ 1,283 - 1,283 2.0% >2.0% 7.5% >7.5% 3.0% >3.0% 7.5% 7.5% 9.7% >9.7% 13.3% 2)T\u00fcrkiye 857 417 1,274 31.7% 11.5% 7.8% 6.9% 10.0% 8.4% 8.0% 3.6% 36.2% 5.3% 43.7% Norway 1,151 - 1,151 3.1% >3.1% 7.9% >7.9% 3.0% >3.0% 7.9% >7.9% 9.2% >9.2% 11.2% Other 3,754 7 3,761 - - - - - - - - - - -Total 19,696 934 20,630 2022UK & Ireland 2,562 99 2,661 4.8% >4.8% 5.1% >5.1% 3.0% >3.0% 6.0% 4.1% 10.2% 8.7% 12.9%US & Canada 2,197 155 2,352 6.1% >6.1% 5.8% >5.8% 3.0% >3.0% 6.0% 2.7% 10.7% 4.8% 13.9%Finland 2,098 - 2,098 1.9% >1.9% 6.2% 5.3% 2.5% 2.5% 6.2% 1.8% 8.6% 1.9% 10.5%Switzerland 1,598 157 1,755 2.3% >2.3% 7.5% >7.5% 2.0% >2.0% 7.5% 6.9% 7.0% >7.0% 8.3%Denmark 1,620 - 1,620 1.6% >1.6% 6.0% >6.0% 2.5% >2.5% 6.5% 2.3% 8.7% 2.6% 10.8%Australia & NZ 1,327 2 1,329 2.8% >2.8% 5.6% >5.6% 2.5% >2.5% 5.6% 3.7% 9.9% 9.6% 14.1%Belgium & Lux. 1,319 - 1,319 2.5% >2.5% 6.2% >6.2% 2.5% >2.5% 6.2% 2.5% 9.0% 3.3% 11.6%T\u00fcrkiye 848 434 1,282 36.0% 17.6% 8.4% >8.4% 10.0% >10.0% 8.0% 5.4% 21.9% 10.7% 27.3%Norway 1,228 - 1,228 2.8% >2.8% 7.8% >7.8% 3.0% >3.0% 7.8% >7.8% 9.6% >9.6% 11.8%Spain 938 1 939 4.4% >4.4% 6.3% >6.3% 2.5% >2.5% 6.5% 4.4% 9.0% 8.0% 11.5%3)France 936 - 936 1.8% 1.8% 0.2% 1.2% 2.5% 0.7% 5.0% 0.4% 9.4% 0.6% 11.4%Other 3,779 9 3,788 - - - - - - - - - - -Total 20,450 857 21,307 1)Excluding allocated corporate costs.2)Discount rate applied in the terminal period was 20.5%.3)In June 2023, goodwill in France was fully impaired and the entity was subsequently reclassified as held for sale and discontinued operations.3.2.3 Cash-generating units (CGUs)Consistent with the Group's management and reporting structure, the lowest level of CGUs is the individual countries, as cash inflows are generated largely independent of cash inflows in other ISS countries (the majority of our contract portfolio is locally based with no cross-border activities). Accordingly, impairment tests are carried out per country, and intangibles (i.e. goodwill and customer contracts) are allocated to these. Management of certain countries has been combined to take advantage of similarities in terms of markets, shared customers and cost synergies. In such exceptional cases, the coun-tries are regarded as one CGU when performing the impairment test. 3.2.4 Determining value in useThe recoverable amount of each CGU is calculat-ed on the basis of its value in use using certain key assumptions per CGU, i.e. revenue growth, operating margin and discount rate. Forecasting period Cash flow projections for the individual CGUs are based on financial forecasts for the following year as approved by management. Assumptions applied in the short to medi-um term (forecasting period of five years) generally reflect management\u2019s expectations considering all relevant factors, including the Group\u2019s strategic initiatives, local initiatives, past experience and external sources of information, where possible and relevant. This also includes expected development in local markets in terms of competition, inflation and growth. More specifically, management has considered the expected impacts from the OneISS strategic priorities, especially around continued key account focus, investments in technology and the global operating model. Where relevant, initiated restructurings and other improvement initiatives, have also been taken into consid-eration when estimating the expected future performance and cash flows. This includes the impacts of the strategic review announced in November 2023.Management also assessed the impact from macroeconomic developments, which in 2023 primarily related to increased inflation rates. During the year, the Group demonstrated its continued ability to manage and mitigate price increases in the supply chain, including activating indexation mechanisms in the contract portfolio to pass on price increases to our customers.Terminal periodAssumptions applied in the terminal period generally reflect management\u2019s long-term expectations for the individual country. Revenue growth reflects inflation and GDP growth and is determined based on input from external sources like IMF\u2019s \u201cWorld Economic Outlook\u201d. Operating margin reflects the expected nor-malised earnings level in the long term. Corporate costsCorporate costs for the services performed by the Group\u2019s head office functions for the benefit of the CGUs are allocated to the individual CGUs and taken into account in the calculation of the recoverable amount. 3.2.5 The ISS brandThe carrying amount of brands relates to the ISS brand and was DKK 1,589 million at 31 December 2023 (2022: DKK 1,589 million). In 2023, no impairment of the ISS brand was identified. No sensitivity is shown for the ISS brand, as the group-wide cash flows adjusted for the Group\u2019s total goodwill and other non-current assets significantly exceed the carrying amount. This is additionally supported by ISS's market capital-isation at 31 December 2023 of approximately DKK 24 billion exceeding the carrying amount of equity, which amounted to DKK 11 billion. KeyDescription1)assumptions Revenue Year 1\u2022 Financial forecasts as approved by managementgrowthForecasting period (year 2-5)\u2022 Based on expected market development, including maturity and inflation\u2022 Impact from local and Group initiatives are considered, including key account focusTerminal period\u2022 Long-term expectations based on external sources such as IMF \u201cWorld Economic Outlook\u201d, OECD, etc.\u2022 Not exceeding expected long-term average for the country, including inflationOperating Year 1\u2022 Financial forecasts as approved by managementmarginForecasting period (year 2-5)\u2022 Impact from local and Group initiatives are considered, including key account focus and investments in technology and the global operating model\u2022 Restructurings, including the strategic review in Q4 2023, and local improve-ment initiatives are consideredTerminal period\u2022 Reflects the expected normalised earnings level in the long termDiscount rates\u2022 Risk-free interest rate based on 10-year government bonds (country- specific), except that for T\u00fcrkiye a normalised interest rate is applied in (net of tax)the terminal period\u2022 Premium added to adjust for the inconsistency of applying government bonds with a short-term maturity when discounting cash flows with infinite maturity\u2022 Country specific estimation risk premium added (to reflect possible variations in amounts/timing of the projected cash flows)2)\u2022 Equity risk premium: 6.0% (2022: 6.0%)\u2022 Debt/equity target ratio (market values): 25/75 (2022: 25/75)1) The key assumptions applied are used for accounting purposes and should not be considered a forward-looking statement within the meaning of the US Private Securities Litigation Act of 1995 and similar laws in other countries regarding expectations to the future development.2) For T\u00fcrkiye a country specific risk premium of 9.0% is added (2022: 6.0%).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__83": {
"value": "Accounting policyThe Group performs impairment test of goodwill and the ISS brand at the reporting date or when indications of impairment exist. Other non-cur-rent assets are tested annually for indications of impairment.When performing the impairment test, the recoverable amount of the asset is determined, i.e. the higher of the fair value of the asset less anticipated costs of disposal and its value in use. The value in use is calculated as the present value of expected future cash flows from the asset or the CGU to which the asset belongs.Impairment of goodwill is recognised in the statement of profit or loss in a separate line if the carrying amount of an asset or CGU exceeds its estimated recoverable amount. The carrying amount of goodwill is tested for impairment together with the other non-current assets in the CGU to which goodwill is allocated.Impairment of goodwill is not reversed. Impair-ment of other assets is reversed if estimates used to calculate the recoverable amount have been changed. An impairment loss is reversed to the extent that the carrying amount does not exceed the carrying amount that would have been deter-mined, net of depreciation and amortisation, if no impairment loss had been recognised. Management believes that the value of the ISS brand supports the ISS Group in its entirety rather than any individual CGU. Accordingly, the ISS brand is tested for impairment at Group level. The impairment test is based on group-wide cash flows adjusted for the Group\u2019s total goodwill and other non-current assets.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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},
"s8_notesesefdkgaap__7__84": {
"value": "3.3 Acquisitions 3.3.1 Acquisition impact Grupo Fissa On 14 September 2023, ISS acquired 100% of the shares in Grupo Fissa in Spain. The acquisition strengthens our market position in Spain and enables us to expand and develop our cleaning service offering to public sector customers, predominantly in Southern Spain. The acquisition adds annual revenue of approximately DKK 745 million and more than 6,000 employees (estimated based on unaudited financial information). Since completion of the acquisition, Grupo Fissa contributed revenue of DKK 254 million to the ISS Group.The purchase consideration amounted to DKK 404 million of which DKK 22 million are contingent upon certain conditions being fulfilled, mainly related to the recoverability of certain receivables. Due to the short time between completion of the acquisition and finalisation of these consolidated financial statements, the Group has not yet com-pleted the acquisition accounting. Consequently, the fair value of certain assets and liabilities such as deferred revenue and provisions has been determined provisionally based on manage-ment\u2019s best estimates as the necessary analyses and calculations could not be completed.Goodwill amounted to DKK 217 million and is attributable mainly to: 1) platform for growth primarily in Southern Spain, 2) synergies and scale, 3) expertise and know-how in the Healthcare, Education and Public administration segment, and 4) assembled workforce. Goodwill is deductible for tax purposes.Net assets and cash flow impactGrupo Prior (DKKm)Fissayear adj. 2023 2022Customer contracts 136 - 136 161 Other non-current assets 90 (7) 83 48 Trade receivables 200 - 200 (3)Other current assets 205 - 205 50 Non-current liabilities(90) 4 (86)(68)Current liabilities(354) (1) (355)(48)Fair value of net assets 187 (4) 183 140 Goodwill 217 4 221 203 Consideration transferred 404 - 404 343 Cash in acquired business(9) - (9)(33)Consideration transferred, net 395 - 395 310 Contingent and deferred consideration(22) - (22) 15 Acquisition (cash flow) 373 - 373 325 Accounting policyBusiness combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling interests in the acquiree. For each business com-bination, the Group elects whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. Acquisition-related costs are expensed as incurred and presented in Other income and expenses, net.Contingent consideration to be transferred by the ac-quirer is recognised at fair value at the acquisition date.If uncertainties exist at the acquisition date re-garding identification or measurement of assets, liabilities and contingent liabilities, initial recognition is based on provisionally determined fair values. Changes to fair values are adjusted against goodwill up until 12 months after the acquisition date. Comparatives are restated accordingly. Changes in fair values after 12 months are recognised in Other income and expenses, net. Goodwill is initially measured at cost being the excess of the consideration transferred over the net identifiable assets acquired and liabilities assumed. After initial recognition, goodwill is measured at cost less accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the Group\u2019s cash-generating units (CGUs) that are expected to benefit from the combination.Prior years adjustments Prior year adjustments related to the acquisition of Livit FM Services AG in Switzerland in 2022.3.3.2 Subsequent acquisitionsThe Group completed no acquisitions from 1 January to 15 February 2024.3.3.3 Pro forma revenue and operating profit Assuming acquisitions/divestments in the year were included/excluded in profit or loss from 1 January 2023, revenue on a pro forma basis would have been DKK 79,073 million compared to reported revenue of DKK 78,681 million. Likewise, operating profit before other items on a pro forma basis would have been DKK 3,318 million compared to reported operating profit before other items of DKK 3,300 million. Pro forma revenue and operating profit before other items include adjustments relating to acquisitions/divestments estimated by local ISS management at the time of acquisition/divestment or actual results where available. The estimates are based on unaudited financial information.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__87": {
"value": "Accounting policyBusiness combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling interests in the acquiree. For each business com-bination, the Group elects whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. Acquisition-related costs are expensed as incurred and presented in Other income and expenses, net.Contingent consideration to be transferred by the ac-quirer is recognised at fair value at the acquisition date.If uncertainties exist at the acquisition date re-garding identification or measurement of assets, liabilities and contingent liabilities, initial recognition is based on provisionally determined fair values. Changes to fair values are adjusted against goodwill up until 12 months after the acquisition date. Comparatives are restated accordingly. Changes in fair values after 12 months are recognised in Other income and expenses, net. Goodwill is initially measured at cost being the excess of the consideration transferred over the net identifiable assets acquired and liabilities assumed. After initial recognition, goodwill is measured at cost less accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the Group\u2019s cash-generating units (CGUs) that are expected to benefit from the combination.Prior years adjustments Prior year adjustments related to the acquisition of Livit FM Services AG in Switzerland in 2022.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__86": {
"value": "Accounting policyBusiness combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling interests in the acquiree. For each business com-bination, the Group elects whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree\u2019s identifiable net assets. Acquisition-related costs are expensed as incurred and presented in Other income and expenses, net.Contingent consideration to be transferred by the ac-quirer is recognised at fair value at the acquisition date.If uncertainties exist at the acquisition date re-garding identification or measurement of assets, liabilities and contingent liabilities, initial recognition is based on provisionally determined fair values. Changes to fair values are adjusted against goodwill up until 12 months after the acquisition date. Comparatives are restated accordingly. Changes in fair values after 12 months are recognised in Other income and expenses, net. Goodwill is initially measured at cost being the excess of the consideration transferred over the net identifiable assets acquired and liabilities assumed. After initial recognition, goodwill is measured at cost less accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the Group\u2019s cash-generating units (CGUs) that are expected to benefit from the combination.Prior years adjustments Prior year adjustments related to the acquisition of Livit FM Services AG in Switzerland in 2022.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"s8_notesesefdkgaap__7__90": {
"value": "3.4 Discontinued operations, assets held for sale and divestmentsISS continuously reviews the strategic fit and rationale of its business activities. In 2023, this led to four minor non-core businesses being divested in Spain and Singapore. Also, the exit from Brunei, where we signed an agreement to divest our activities in 2022, was completed in February 2023.On 9 August 2023, ISS announced the intentionto divest the French business, excluding global key account customers. As a result, ISS France was classified as held for sale and discontinued operations as of that date.Historically, financial results in France have not been satisfactory and have been dilutive to Group operating margins and growth. During the past several years, ISS has worked towards restructuring the business and establishing a solid foundation in the French market. However,the efforts have not generated the expected financial improvements, among others due to inherent strategic challenges, difficult market conditions, and continued muted commercial development.At 30 June 2023, ISS concluded that building a long-term, sustainable business with a strengthened market position in France would require further restructurings and significant investments, which led to recognition of an impairment loss of DKK 1,257 million (see 3.2, Impairment tests) and the subsequent decision to divest ISS France and reposition ISS in the French market to only focus on servicing global key account customers.In the second half of 2023, the sales process has been ongoing, and on 22 December 2023 ISS signed a binding agreement (put option) to divest the business to Onet SA, a French facility services company. A mandatory information and consultation process with the employee repre-sentative has been launched. Completion of the transaction is expected in first half of 2024 and is subject to customary antitrust approval.3.4.1 Discontinued operations Profit or loss (DKKm)Note 2023 2022Revenue 2,662 3,0851)Expenses (2,816) (3,143)Operating profit before other items(154) (58)Other income and expenses, net(489) 121 Goodwill impairment 3.2(937) - Operating profit (1,580) 63 Financial income/ (expenses), net (55) (5)Net profit before tax (1,635) 58 Income tax (17) (37)Net profit from 2) discontinued operations (1,652) 21 1) Including depreciation and amortisation of DKK 47 million (2022: DKK 102 million).2) Including Net profit of DKK 33 million related to Brunei.Impact on profit or lossThe initial classification of ISS France as held for sale and discontinued operations, did not result in impairment losses beyond the impairment loss recognised at 30 June 2023 of DKK 1,257 million.Subsequently, additional investment in non-monetary assets of DKK 64 million were immediately written off.Finally, at 31 December 2023 fair value less costs to sell was reassessed on the basis of the agree-ment with Onet SA, which resulted in recognition of an additional loss of DKK 137 million.The total impairment losses and fair value adjustments in 2023 amounted to DKK 1,458 million as presented to the left in:\u2022 Goodwill impairment (DKK 937 million); and\u2022 Other income and expenses, net (DKK 521million)Earnings per share, DKK(DKKm)2023 2022Basic earnings per share(8.9) 0.1 Diluted earnings per share(8.8) 0.1 Cash flows (DKKm)2023 2022Operating activities(44) (140)Investing activities(2) (115)Financing activities(41) (45) Discontinued operations \u2013 presented in separate profit or loss line2023 2022BruneiBrunei Brunei BruneiFrancePortugalBrazilBrazil France PortugalRussiaFinland RussiaTaiwan TaiwanThailand3.4.2 Assets held for sale Major classes (DKKm)2023 2022 Goodwill - 11 Other non-current assets 143 12 Current assets 555 9 Assets held for sale 698 32 Non-current liabilities 305 - Current liabilities 1,044 10 Liabilities held for sale 1,349 103.4.3 Divestment impactDivestments completed in 2023Annual Service ExcludedrevenueEmployees1)(number)Company/activity Countrytypefrom P/L Interest(DKKm)ISS Brunei Brunei Country Exit February 100% 44 539 Security Business Spain Technical April 100% 51 181 Landscaping Singapore Technical July 100% 67 260 Sanitation Services Singapore Technical July 100% 23 26 Technical Services Spain Technical July 100% 51 82 Total 236 1,088 1) Unaudited.Net assets and cash flow impact(DKKm)2023 2022Goodwill 17 190 Other non-current assets 18 165 Current assets 59 325 Non-current liabilities - (24)Loans and borrowings (5)(24)Current liabilities (27)(251)Net assets disposed 62 381 1)Gain/(loss) on divestment, net (5) 168 Divestment costs 42 128 Consideration received 99 677 Cash in divested businesses (23)(87)Consideration received, net 76 590 Contingent and deferred consideration(4) 49 Divestment costs paid (47)(52)Divestments (cash flow) 25 587 1) In addition, DKK 18 million (2022: DKK 33 million) was recognised in Other income and expenses, net related to recycling of accumulated foreign exchange adjustments on country exits. 3.4.4 Subsequent divestmentsNo divestments were completed from 1 January to 15 February 2024.Significant accounting estimatesThe Group classifies non-current assets and dispos-al groups as held for sale when management as-sesses that their carrying amounts will be recovered through a sale rather than continuing use within one year from the classification. Management\u2019s assessment is based on an evaluation of whether the sale is highly probable, and the asset or disposal group is available for immediate sale in its current condition, including whether actions required to complete the sale indicate that it is unlikely that significant changes to the sale will be made or that the decision to sell will be withdrawn. Management is committed to the plan to sell the asset.If a sale has not been concluded within one year, the period is extended if management assesses that the above criteria continue to be fulfilled.On classification, management estimates the fair value (the sales price less expected costs to sell). Depending on the nature of the non-current assets and the disposal group\u2019s activity, assets and liabilities, the estimated fair value may be associated with uncertainty and possibly adjusted subsequently. Measurement of the fair value of disposal groups is categorised as Level 3 in the fair value hierarchy as measurement is not based on observable market data.Management considers intangible assets relating to the disposal groups, taking into consideration how to separate the net assets (including intan-gible assets) relating to the disposal group from the Group\u2019s assets in the continuing business. Impairment of these intangibles, both on initial classification as held for sale and subsequently, is considered. The estimation uncertainty relating to impairment of intangibles is described in 3.2, Impairment tests.Accounting policyAssets held for sale comprise assets and liabilities related to disposal groups held for sale, and are measured at the lower of their carrying amount and fair value less costs to sell. Once classified as held for sale, assets are not amortised or depreciated.Impairment losses on initial classification as held for sale, and subsequent gains and losses on remeasurement are recognised in profit or loss and disclosed in the notes.Assets held for sale are presented in separate lines of the statement of financial position and specified in the notes. Comparatives are not restated. A disposal group is presented as discontinued operations if it is a geographical area, i.e. a CGU (country), that either has been disposed of, or is classified as held for sale.Discontinued operations are presented separately as Net profit from discontinued operations and specified in the notes. Comparatives are restated.Cash flows from discontinued operations are in-cluded in cash flow from operating, investing and financing activities together with cash flows from continuing operations, but separately specified in 3.4.1, Discontinued operations.Divestments Gain or loss on disposal of an opera-tion that is part of a CGU includes a portion of the related goodwill allocated to that CGU. Goodwill related to the disposed operation is measured based on the fair value of the disposed operation relative to the fair value of the entire CGU. If the Group loses control over a subsidiary, it derecognises the related assets (including goodwill), liabilities, non-controlling interests and other com-ponents of equity, while any resultant gain or loss is recognised in Other income and expenses, net.",
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"concept": "ifrs-full:DisclosureOfDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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},
"s8_notesesefdkgaap__7__88": {
"value": "3.4 Discontinued operations, assets held for sale and divestmentsISS continuously reviews the strategic fit and rationale of its business activities. In 2023, this led to four minor non-core businesses being divested in Spain and Singapore. Also, the exit from Brunei, where we signed an agreement to divest our activities in 2022, was completed in February 2023.On 9 August 2023, ISS announced the intentionto divest the French business, excluding global key account customers. As a result, ISS France was classified as held for sale and discontinued operations as of that date.Historically, financial results in France have not been satisfactory and have been dilutive to Group operating margins and growth. During the past several years, ISS has worked towards restructuring the business and establishing a solid foundation in the French market. However,the efforts have not generated the expected financial improvements, among others due to inherent strategic challenges, difficult market conditions, and continued muted commercial development.At 30 June 2023, ISS concluded that building a long-term, sustainable business with a strengthened market position in France would require further restructurings and significant investments, which led to recognition of an impairment loss of DKK 1,257 million (see 3.2, Impairment tests) and the subsequent decision to divest ISS France and reposition ISS in the French market to only focus on servicing global key account customers.In the second half of 2023, the sales process has been ongoing, and on 22 December 2023 ISS signed a binding agreement (put option) to divest the business to Onet SA, a French facility services company. A mandatory information and consultation process with the employee repre-sentative has been launched. Completion of the transaction is expected in first half of 2024 and is subject to customary antitrust approval.3.4.1 Discontinued operations Profit or loss (DKKm)Note 2023 2022Revenue 2,662 3,0851)Expenses (2,816) (3,143)Operating profit before other items(154) (58)Other income and expenses, net(489) 121 Goodwill impairment 3.2(937) - Operating profit (1,580) 63 Financial income/ (expenses), net (55) (5)Net profit before tax (1,635) 58 Income tax (17) (37)Net profit from 2) discontinued operations (1,652) 21 1) Including depreciation and amortisation of DKK 47 million (2022: DKK 102 million).2) Including Net profit of DKK 33 million related to Brunei.Impact on profit or lossThe initial classification of ISS France as held for sale and discontinued operations, did not result in impairment losses beyond the impairment loss recognised at 30 June 2023 of DKK 1,257 million.Subsequently, additional investment in non-monetary assets of DKK 64 million were immediately written off.Finally, at 31 December 2023 fair value less costs to sell was reassessed on the basis of the agree-ment with Onet SA, which resulted in recognition of an additional loss of DKK 137 million.The total impairment losses and fair value adjustments in 2023 amounted to DKK 1,458 million as presented to the left in:\u2022 Goodwill impairment (DKK 937 million); and\u2022 Other income and expenses, net (DKK 521million)Earnings per share, DKK(DKKm)2023 2022Basic earnings per share(8.9) 0.1 Diluted earnings per share(8.8) 0.1 Cash flows (DKKm)2023 2022Operating activities(44) (140)Investing activities(2) (115)Financing activities(41) (45) Discontinued operations \u2013 presented in separate profit or loss line2023 2022BruneiBrunei Brunei BruneiFrancePortugalBrazilBrazil France PortugalRussiaFinland RussiaTaiwan TaiwanThailand3.4.2 Assets held for sale Major classes (DKKm)2023 2022 Goodwill - 11 Other non-current assets 143 12 Current assets 555 9 Assets held for sale 698 32 Non-current liabilities 305 - Current liabilities 1,044 10 Liabilities held for sale 1,349 103.4.3 Divestment impactDivestments completed in 2023Annual Service ExcludedrevenueEmployees1)(number)Company/activity Countrytypefrom P/L Interest(DKKm)ISS Brunei Brunei Country Exit February 100% 44 539 Security Business Spain Technical April 100% 51 181 Landscaping Singapore Technical July 100% 67 260 Sanitation Services Singapore Technical July 100% 23 26 Technical Services Spain Technical July 100% 51 82 Total 236 1,088 1) Unaudited.Net assets and cash flow impact(DKKm)2023 2022Goodwill 17 190 Other non-current assets 18 165 Current assets 59 325 Non-current liabilities - (24)Loans and borrowings (5)(24)Current liabilities (27)(251)Net assets disposed 62 381 1)Gain/(loss) on divestment, net (5) 168 Divestment costs 42 128 Consideration received 99 677 Cash in divested businesses (23)(87)Consideration received, net 76 590 Contingent and deferred consideration(4) 49 Divestment costs paid (47)(52)Divestments (cash flow) 25 587 1) In addition, DKK 18 million (2022: DKK 33 million) was recognised in Other income and expenses, net related to recycling of accumulated foreign exchange adjustments on country exits. 3.4.4 Subsequent divestmentsNo divestments were completed from 1 January to 15 February 2024.Significant accounting estimatesThe Group classifies non-current assets and dispos-al groups as held for sale when management as-sesses that their carrying amounts will be recovered through a sale rather than continuing use within one year from the classification. Management\u2019s assessment is based on an evaluation of whether the sale is highly probable, and the asset or disposal group is available for immediate sale in its current condition, including whether actions required to complete the sale indicate that it is unlikely that significant changes to the sale will be made or that the decision to sell will be withdrawn. Management is committed to the plan to sell the asset.If a sale has not been concluded within one year, the period is extended if management assesses that the above criteria continue to be fulfilled.On classification, management estimates the fair value (the sales price less expected costs to sell). Depending on the nature of the non-current assets and the disposal group\u2019s activity, assets and liabilities, the estimated fair value may be associated with uncertainty and possibly adjusted subsequently. Measurement of the fair value of disposal groups is categorised as Level 3 in the fair value hierarchy as measurement is not based on observable market data.Management considers intangible assets relating to the disposal groups, taking into consideration how to separate the net assets (including intan-gible assets) relating to the disposal group from the Group\u2019s assets in the continuing business. Impairment of these intangibles, both on initial classification as held for sale and subsequently, is considered. The estimation uncertainty relating to impairment of intangibles is described in 3.2, Impairment tests.Accounting policyAssets held for sale comprise assets and liabilities related to disposal groups held for sale, and are measured at the lower of their carrying amount and fair value less costs to sell. Once classified as held for sale, assets are not amortised or depreciated.Impairment losses on initial classification as held for sale, and subsequent gains and losses on remeasurement are recognised in profit or loss and disclosed in the notes.Assets held for sale are presented in separate lines of the statement of financial position and specified in the notes. Comparatives are not restated. A disposal group is presented as discontinued operations if it is a geographical area, i.e. a CGU (country), that either has been disposed of, or is classified as held for sale.Discontinued operations are presented separately as Net profit from discontinued operations and specified in the notes. Comparatives are restated.Cash flows from discontinued operations are in-cluded in cash flow from operating, investing and financing activities together with cash flows from continuing operations, but separately specified in 3.4.1, Discontinued operations.Divestments Gain or loss on disposal of an opera-tion that is part of a CGU includes a portion of the related goodwill allocated to that CGU. Goodwill related to the disposed operation is measured based on the fair value of the disposed operation relative to the fair value of the entire CGU. If the Group loses control over a subsidiary, it derecognises the related assets (including goodwill), liabilities, non-controlling interests and other com-ponents of equity, while any resultant gain or loss is recognised in Other income and expenses, net.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__93": {
"value": "3.4.2 Assets held for sale Major classes (DKKm)2023 2022 Goodwill - 11 Other non-current assets 143 12 Current assets 555 9 Assets held for sale 698 32 Non-current liabilities 305 - Current liabilities 1,044 10 Liabilities held for sale 1,349 10",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__92": {
"value": "Accounting policyAssets held for sale comprise assets and liabilities related to disposal groups held for sale, and are measured at the lower of their carrying amount and fair value less costs to sell. Once classified as held for sale, assets are not amortised or depreciated.Impairment losses on initial classification as held for sale, and subsequent gains and losses on remeasurement are recognised in profit or loss and disclosed in the notes.Assets held for sale are presented in separate lines of the statement of financial position and specified in the notes. Comparatives are not restated.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__91": {
"value": "Accounting policyAssets held for sale comprise assets and liabilities related to disposal groups held for sale, and are measured at the lower of their carrying amount and fair value less costs to sell. Once classified as held for sale, assets are not amortised or depreciated.Impairment losses on initial classification as held for sale, and subsequent gains and losses on remeasurement are recognised in profit or loss and disclosed in the notes.Assets held for sale are presented in separate lines of the statement of financial position and specified in the notes. Comparatives are not restated. A disposal group is presented as discontinued operations if it is a geographical area, i.e. a CGU (country), that either has been disposed of, or is classified as held for sale.Discontinued operations are presented separately as Net profit from discontinued operations and specified in the notes. Comparatives are restated.Cash flows from discontinued operations are in-cluded in cash flow from operating, investing and financing activities together with cash flows from continuing operations, but separately specified in 3.4.1, Discontinued operations.Divestments Gain or loss on disposal of an opera-tion that is part of a CGU includes a portion of the related goodwill allocated to that CGU. Goodwill related to the disposed operation is measured based on the fair value of the disposed operation relative to the fair value of the entire CGU. If the Group loses control over a subsidiary, it derecognises the related assets (including goodwill), liabilities, non-controlling interests and other com-ponents of equity, while any resultant gain or loss is recognised in Other income and expenses, net.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__89": {
"value": "Accounting policyAssets held for sale comprise assets and liabilities related to disposal groups held for sale, and are measured at the lower of their carrying amount and fair value less costs to sell. Once classified as held for sale, assets are not amortised or depreciated.Impairment losses on initial classification as held for sale, and subsequent gains and losses on remeasurement are recognised in profit or loss and disclosed in the notes.Assets held for sale are presented in separate lines of the statement of financial position and specified in the notes. Comparatives are not restated. A disposal group is presented as discontinued operations if it is a geographical area, i.e. a CGU (country), that either has been disposed of, or is classified as held for sale.Discontinued operations are presented separately as Net profit from discontinued operations and specified in the notes. Comparatives are restated.Cash flows from discontinued operations are in-cluded in cash flow from operating, investing and financing activities together with cash flows from continuing operations, but separately specified in 3.4.1, Discontinued operations.Divestments Gain or loss on disposal of an opera-tion that is part of a CGU includes a portion of the related goodwill allocated to that CGU. Goodwill related to the disposed operation is measured based on the fair value of the disposed operation relative to the fair value of the entire CGU. If the Group loses control over a subsidiary, it derecognises the related assets (including goodwill), liabilities, non-controlling interests and other com-ponents of equity, while any resultant gain or loss is recognised in Other income and expenses, net.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__94": {
"value": "4.1 Equity 4.1.1 Share capital At 31 December 2023, ISS\u2019s share capital com-prised a total of DKK 185,668,226 shares (2022: 185,668,226) with a nominal value of DKK 1 each. All shares were fully paid and freely transferable. ISS has one class of shares, and no shares carry special rights. Each share gives the holder the right to one vote at our general meetings. 4.1.2 Treasury shares Purchase(DKKm) price 2023At 1 January 185 938,343Settlement of vested PSUs/RSUs(122) (623,773)Purchased 3 17,337At 31 December 66 331,9072022At 1 January 191 970,082 Settlement of vested RSUs (6)(31,739)At 31 December 185 938,343 Share buyback programme initiatedThe Board of Directors has decided to initiate a share buyback programme under which ISS will buy back own shares for a maximum consideration of DKK 1.0 billion over a 12-month period from 22 February 2024 to 19 February 2025 at the latest, both days inclusive. The purpose of the share buyback programme is to reduce the share capital and to meet obligations arising from the share-based incentive programme (LTIP).4.1.3 Translation reserve(DKKm)Hedging Subsidiaries Total2023At 1 January(185) (969)(1,154)Foreign exchange adjustments of subsidiaries (ISS's share) - (330)(330)Recycling of accumulated foreign exchange adj. on country exits - (18)(18)Hyperinflation, T\u00fcrkiye - 309 309 Fair value adjustment of net investment hedges, net of tax(84) - (84)At 31 December(269) (1,008)(1,277)2022At 1 January(152) (1,294)(1,446)Foreign exchange adjustments of subsidiaries (ISS's share) - (45)(45)Recycling of accumulated foreign exchange adj. on country exits - (33)(33)Hyperinflation, T\u00fcrkiye - 403 403 Fair value adjustment of net investment hedges, net of tax(33) - (33)At 31 December(185) (969)(1,154)Hedging reserve In 2023, the Group ceased the use of currency swaps to hedge its currency exposure on net investments in subsidiaries. At 31 December 2023, accumulated fair value adjustments, net of tax amounted to DKK (269) million of which DKK (140) million related to GBP, DKK (75) million related to CHF and DKK (54) million related to USD. The total tax effect was DKK 12 million. The amounts will remain in the translation reserve until full realisation of the foreign entity. 4.1.4 Earnings per share (in '000)2023 2022Average number of shares 185,668 185,668 Average number of treasury shares(334)(938)Average number of shares (basic) 185,334 184,730 Average number of PSUs and RSUs expected to vest 2,620 2,513 Average number of shares (diluted)187,954 187,243 The table reflects the share data used in the basic and diluted EPS calculations, see 8.5, Definitions.The calculation of average number of diluted shares excluded a total of 847,574 PSUs and RSUs (2022: 1,244,928) which are not expected to vest. 4.1.5 Proposed dividendsAt the annual general meeting to be held on 11 April 2024, the Board of Directors will propose a dividend for 2023 of DKK 2.3 per share of DKK 1 (2022: DKK 2.1 per share), equivalent to DKK 427 million and a pay-out ratio of 20% (2022: DKK 390 million/pay-out ratio: 20%). There are no tax conse-quences of proposed dividends for the Group.In 2023, dividends paid to shareholders amount-ed to DKK 390 million (2022: DKK 0 million).4.1.6 Non-controlling interests The Group\u2019s non-controlling interests predom-inantly relates to ISS T\u00fcrkiye, where Actera, a leading T\u00fcrkiyish private equity company, owns 39.9%. Actera became minority shareholder of ISS T\u00fcrkiye as part of the acquisition of R\u00f6nesans Facility Management Company in September 2021. Further, certain members of management of ISS T\u00fcrkiye together hold a minority sharehold-ing of 10% in ISS T\u00fcrkiye.The shareholders\u2019 agreement between ISS, Actera and management establishes the rights and obligations of the parties, including rights and restrictions on transferring shares, such as right of first refusal, drag along rights from Q4 2024 and right to explore a potential Initial Public Offering (IPO).4.1.7 Other comprehensive income 20232022Attributable to owners of ISS A/SAttributable to owners of ISS A/SNon-Non-Retained Translation controllingTotal Retained Translation controllingTotal (DKKm)Noteearningsreserve Totalinterestequityearningsreserve TotalinterestequityDefined benefit plansRemeasurement gain/(loss)7.1(423) - (423)(39) (462) 253 - 253 (45) 208 Asset ceiling 7.1 299 - 299 - 299(43) - (43) - (43)Foreign exchange adjustmentsForeign exchange adjustments of foreign entities - (330)(330) (148) (478) - (45)(45) (57) (102)Recycling of accumulated foreign exchange adj. on country exits - (18)(18) - (18) - (33)(33) - (33)Hyperinflation restatement of equity at 1 January - 309 309 158 467 - 403 403 411 814 Hedging Fair value adjustments of net investment hedges - (84)(84) - (84) - (43)(43) - (43)TaxTax related to the items above 23 - 23 10 33 (62) 10 (52) 9 (43)Total (101)(123)(224)(19)(243) 148 292 440 318 758 Development in 2023 In 2023, other comprehensive income was DKK (243) million, a decrease of DKK 1,001 million compared to 2022. The decrease mainly related to an increased negative impact from translation of foreign entities primarily T\u00fcrkiye, Switzerland and the UK as well as remeasurement gain/losses on defined benefit plans partly offset by a positive impact from changes in asset ceiling. In addition, the positive impact from hyperinflation restate-ment in T\u00fcrkiye decreased by DKK 347 million compared to 2022. Accounting policyRetained earnings is the Group\u2019s free reserves, which includes share premium. Share premium com-prises amounts above the nominal share capital paid by shareholders when shares are issued by ISS A/S. Treasury shares The cost of acquisition and pro-ceeds from sale of treasury shares are recognised in reserve for treasury shares. Dividends received in relation to treasury shares are recognised in retained earnings.Proposed dividends are recognised as a liability at the date when they are adopted at the annual general meeting.Translation reserve comprises foreign exchange differences arising from the translation of financial statements of foreign entities with a functional currency other than DKK as well as from the translation of non-current balances which are considered part of the investment in foreign entities. Furthermore, the reserve includes fair value adjustments of net investment hedges and hyperinflation restatement. On full realisation of a foreign entity the accumulated foreign exchange adjustments are transferred to profit or loss in the same line item as the gain or loss.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__97": {
"value": "4.1.2 Treasury shares Purchase(DKKm) price 2023At 1 January 185 938,343Settlement of vested PSUs/RSUs(122) (623,773)Purchased 3 17,337At 31 December 66 331,9072022At 1 January 191 970,082 Settlement of vested RSUs (6)(31,739)At 31 December 185 938,343 Share buyback programme initiatedThe Board of Directors has decided to initiate a share buyback programme under which ISS will buy back own shares for a maximum consideration of DKK 1.0 billion over a 12-month period from 22 February 2024 to 19 February 2025 at the latest, both days inclusive. The purpose of the share buyback programme is to reduce the share capital and to meet obligations arising from the share-based incentive programme (LTIP).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__103": {
"value": "4.1.6 Non-controlling interests The Group\u2019s non-controlling interests predom-inantly relates to ISS T\u00fcrkiye, where Actera, a leading T\u00fcrkiyish private equity company, owns 39.9%. Actera became minority shareholder of ISS T\u00fcrkiye as part of the acquisition of R\u00f6nesans Facility Management Company in September 2021. Further, certain members of management of ISS T\u00fcrkiye together hold a minority sharehold-ing of 10% in ISS T\u00fcrkiye.The shareholders\u2019 agreement between ISS, Actera and management establishes the rights and obligations of the parties, including rights and restrictions on transferring shares, such as right of first refusal, drag along rights from Q4 2024 and right to explore a potential Initial Public Offering (IPO).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__101": {
"value": "4.1.3 Translation reserve(DKKm)Hedging Subsidiaries Total2023At 1 January(185) (969)(1,154)Foreign exchange adjustments of subsidiaries (ISS's share) - (330)(330)Recycling of accumulated foreign exchange adj. on country exits - (18)(18)Hyperinflation, T\u00fcrkiye - 309 309 Fair value adjustment of net investment hedges, net of tax(84) - (84)At 31 December(269) (1,008)(1,277)2022At 1 January(152) (1,294)(1,446)Foreign exchange adjustments of subsidiaries (ISS's share) - (45)(45)Recycling of accumulated foreign exchange adj. on country exits - (33)(33)Hyperinflation, T\u00fcrkiye - 403 403 Fair value adjustment of net investment hedges, net of tax(33) - (33)At 31 December(185) (969)(1,154)Hedging reserve In 2023, the Group ceased the use of currency swaps to hedge its currency exposure on net investments in subsidiaries. At 31 December 2023, accumulated fair value adjustments, net of tax amounted to DKK (269) million of which DKK (140) million related to GBP, DKK (75) million related to CHF and DKK (54) million related to USD. The total tax effect was DKK 12 million. The amounts will remain in the translation reserve until full realisation of the foreign entity.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__102": {
"value": "4.1.4 Earnings per share (in '000)2023 2022Average number of shares 185,668 185,668 Average number of treasury shares(334)(938)Average number of shares (basic) 185,334 184,730 Average number of PSUs and RSUs expected to vest 2,620 2,513 Average number of shares (diluted)187,954 187,243 The table reflects the share data used in the basic and diluted EPS calculations, see 8.5, Definitions.The calculation of average number of diluted shares excluded a total of 847,574 PSUs and RSUs (2022: 1,244,928) which are not expected to vest.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__100": {
"value": "4.1.5 Proposed dividendsAt the annual general meeting to be held on 11 April 2024, the Board of Directors will propose a dividend for 2023 of DKK 2.3 per share of DKK 1 (2022: DKK 2.1 per share), equivalent to DKK 427 million and a pay-out ratio of 20% (2022: DKK 390 million/pay-out ratio: 20%). There are no tax conse-quences of proposed dividends for the Group.In 2023, dividends paid to shareholders amount-ed to DKK 390 million (2022: DKK 0 million).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__98": {
"value": "2.3",
"decimals": 1,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK/xbrli:shares"
}
},
"s8_notesesefdkgaap__8__98": {
"value": "2.1",
"decimals": 1,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:DKK/xbrli:shares"
}
},
"s8_notesesefdkgaap__7__99": {
"value": "427000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"s8_notesesefdkgaap__8__99": {
"value": "390000000",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"s8_notesesefdkgaap__7__96": {
"value": "Accounting policyRetained earnings is the Group\u2019s free reserves, which includes share premium. Share premium com-prises amounts above the nominal share capital paid by shareholders when shares are issued by ISS A/S. Treasury shares The cost of acquisition and pro-ceeds from sale of treasury shares are recognised in reserve for treasury shares. Dividends received in relation to treasury shares are recognised in retained earnings.Proposed dividends are recognised as a liability at the date when they are adopted at the annual general meeting.Translation reserve comprises foreign exchange differences arising from the translation of financial statements of foreign entities with a functional currency other than DKK as well as from the translation of non-current balances which are considered part of the investment in foreign entities. Furthermore, the reserve includes fair value adjustments of net investment hedges and hyperinflation restatement. On full realisation of a foreign entity the accumulated foreign exchange adjustments are transferred to profit or loss in the same line item as the gain or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__95": {
"value": "Accounting policyRetained earnings is the Group\u2019s free reserves, which includes share premium. Share premium com-prises amounts above the nominal share capital paid by shareholders when shares are issued by ISS A/S. Treasury shares The cost of acquisition and pro-ceeds from sale of treasury shares are recognised in reserve for treasury shares. Dividends received in relation to treasury shares are recognised in retained earnings.Proposed dividends are recognised as a liability at the date when they are adopted at the annual general meeting.Translation reserve comprises foreign exchange differences arising from the translation of financial statements of foreign entities with a functional currency other than DKK as well as from the translation of non-current balances which are considered part of the investment in foreign entities. Furthermore, the reserve includes fair value adjustments of net investment hedges and hyperinflation restatement. On full realisation of a foreign entity the accumulated foreign exchange adjustments are transferred to profit or loss in the same line item as the gain or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__105": {
"value": "4.2 Borrowings and interests4.2.1 Loans and borrowings(DKKm)Note 2023 2022Issued bonds 14,073 13,973 Lease liabilities 2,335 2,464 Bank loans 311 363 Loans and borrowings 16,719 16,800 Non-current liabilities 13,427 15,945 Current liabilities 3,292 855 Loans and borrowings 16,719 16,800 Cash and cash equivalents (6,093)(5,214)Derivatives, net 2.2, 2.3 39 58 Securities 2.2 (117)(104)Net debt 10,548 11,540 Refinancing On 26 June 2023, ISS entered into a new senior unsecured Revolving Credit Facility of EUR 900 million with a syndicate of 12 banks. The facility matures in June 2028 with a two-year extension option and replaces the EUR 1 billion Revolving Credit Facility maturing in 2024. The new Revolving Credit Facility is not subject to financial covenants and the margin is determined semi-annually based on a margin grid.Furthermore, EUR 300 million of EMTN bonds will mature in December 2024 and EUR 500 million will mature in July 2025. In the first half of 2024, the Group will evaluate different refinan-cing options. Except for this, ISS has no material short-term debt maturities.Financing fees At 31 December 2023, accumulated financing fees recognised in loans and borrowings amounted to DKK 54 million (2022: DKK 57 million). The decrease compared to last year was due to ordinary amortisation of DKK 29 million (2022: DKK 22 million) recognised in financial expenses, partly offset by financing fees of DKK 26 million being capitalised in relation to the new Revolving Credit Facility.Fair value At 31 December 2023, the fair value of bonds was DKK 13,474 million (2022: DKK 15,751 mil-lion). The fair value of bonds was based on the quoted market price on the Luxembourg Stock Exchange and measurement is categorised as Level 1 in the fair value hierarchy. For the remaining loans and borrowings, the fair values are not materially different from their carrying amounts due to their short-term nature.4.2.2 Financial income and expenses(DKKm)2023 2022Interest income on cash and cash equivalents 98 67 Monetary gain on hyperinflation restatement 87 138 Financial income 185 205 1)Interest expenses on loans and borrowings (356) (299)1)Interest expenses on lease liabilities (121) (78)1)Interest expenses on factoring (71) (22)Bank fees(62)(49)1)Amortisation of financing fees (non-cash)(29) (22)Net interest on defined benefit obligations(24)(17)Commitment fees(16)(43)Other (13)(10)Foreign exchange losses (100)(49)Financial expenses (792)(589)1) Measurement basis amortised cost.Monetary gain on hyperinflation restatementrelated to the adjustment for hyperinflation (IAS29) in T\u00fcrkiye.Interest expenses on loans and borrowingscomprised mainly interest on issued bonds. The increase compared to 2022 was driven by increased interest rates throughout 2023 of which DKK 43 million related to the interest rate swap on part of the bonds.Interest expenses on factoring increased due to higher facility utilisation and increased interest rates throughout 2023.Foreign exchange losses were mainly driven by the unhedged TRY and EUR positions. The highest contributor is TRY, which remains unhedged due to high cost. TRY depreciated 39% against DKK in 2023.4.2.3 Cash flow impact from changes in loans and borrowingsIssued Lease Bank (DKKm)Notebondsliabilitiesloans Total 2023At 1 January 13,973 2,464 363 16,800 Foreign exchange adjustments 31 (16)(118) (103)Cash flows - (791)(147)(938)Acquisitions/divestments, net - (9) 207 198 Lease additions 2.6 - 908 - 908Fair value adjustments 4.4 51 - - 51 Reclass to Liabilities held for sale - (243)(11)(254)Other 18 22 17 57 At 31 December 14,073 2,335 311 16,7192022At 1 January 14,064 2,539 340 16,943 Foreign exchange adjustments - (14)(86)(100)Cash flows - (865)(58)(923)Acquisitions - 40 - 40 Lease additions 2.6 - 765 - 765 Fair value adjustments 4.4 (108) - 43 (65)Other 17 (1) 124 140 At 31 December 13,973 2,464 363 16,800 Accounting policyIssued bonds and bank loans are recognised initially at fair value net of transaction costs (financing fees) and subsequently at amortised cost. Any difference between the proceeds and the nominal value is recognised in Financial expenses over the term of the loan using the effective interest method. Lease liabilities At the commencement date the Group recognises lease liabilities at the present value of the lease payments to be made over the lease term. The present value is calculated using the Group\u2019s incremental borrowing rate if the interest rate implicit in the lease is not readily determinable. Subsequently, the lease liability is measured at amortised cost and remeasured due to modifications such as changes in; 1) lease term, 2) the assessment to purchase the underlying asset, 3) future lease payments (e.g. a change in an index or rate), or 4) the Group\u2019s estimate of the amount expected to be payable under a residual guarantee.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__104": {
"value": "4.2 Borrowings and interests4.2.1 Loans and borrowings(DKKm)Note 2023 2022Issued bonds 14,073 13,973 Lease liabilities 2,335 2,464 Bank loans 311 363 Loans and borrowings 16,719 16,800 Non-current liabilities 13,427 15,945 Current liabilities 3,292 855 Loans and borrowings 16,719 16,800 Cash and cash equivalents (6,093)(5,214)Derivatives, net 2.2, 2.3 39 58 Securities 2.2 (117)(104)Net debt 10,548 11,540 Refinancing On 26 June 2023, ISS entered into a new senior unsecured Revolving Credit Facility of EUR 900 million with a syndicate of 12 banks. The facility matures in June 2028 with a two-year extension option and replaces the EUR 1 billion Revolving Credit Facility maturing in 2024. The new Revolving Credit Facility is not subject to financial covenants and the margin is determined semi-annually based on a margin grid.Furthermore, EUR 300 million of EMTN bonds will mature in December 2024 and EUR 500 million will mature in July 2025. In the first half of 2024, the Group will evaluate different refinan-cing options. Except for this, ISS has no material short-term debt maturities.Financing fees At 31 December 2023, accumulated financing fees recognised in loans and borrowings amounted to DKK 54 million (2022: DKK 57 million). The decrease compared to last year was due to ordinary amortisation of DKK 29 million (2022: DKK 22 million) recognised in financial expenses, partly offset by financing fees of DKK 26 million being capitalised in relation to the new Revolving Credit Facility.Fair value At 31 December 2023, the fair value of bonds was DKK 13,474 million (2022: DKK 15,751 mil-lion). The fair value of bonds was based on the quoted market price on the Luxembourg Stock Exchange and measurement is categorised as Level 1 in the fair value hierarchy. For the remaining loans and borrowings, the fair values are not materially different from their carrying amounts due to their short-term nature.4.2.2 Financial income and expenses(DKKm)2023 2022Interest income on cash and cash equivalents 98 67 Monetary gain on hyperinflation restatement 87 138 Financial income 185 205 1)Interest expenses on loans and borrowings (356) (299)1)Interest expenses on lease liabilities (121) (78)1)Interest expenses on factoring (71) (22)Bank fees(62)(49)1)Amortisation of financing fees (non-cash)(29) (22)Net interest on defined benefit obligations(24)(17)Commitment fees(16)(43)Other (13)(10)Foreign exchange losses (100)(49)Financial expenses (792)(589)1) Measurement basis amortised cost.Monetary gain on hyperinflation restatementrelated to the adjustment for hyperinflation (IAS29) in T\u00fcrkiye.Interest expenses on loans and borrowingscomprised mainly interest on issued bonds. The increase compared to 2022 was driven by increased interest rates throughout 2023 of which DKK 43 million related to the interest rate swap on part of the bonds.Interest expenses on factoring increased due to higher facility utilisation and increased interest rates throughout 2023.Foreign exchange losses were mainly driven by the unhedged TRY and EUR positions. The highest contributor is TRY, which remains unhedged due to high cost. TRY depreciated 39% against DKK in 2023.4.2.3 Cash flow impact from changes in loans and borrowingsIssued Lease Bank (DKKm)Notebondsliabilitiesloans Total 2023At 1 January 13,973 2,464 363 16,800 Foreign exchange adjustments 31 (16)(118) (103)Cash flows - (791)(147)(938)Acquisitions/divestments, net - (9) 207 198 Lease additions 2.6 - 908 - 908Fair value adjustments 4.4 51 - - 51 Reclass to Liabilities held for sale - (243)(11)(254)Other 18 22 17 57 At 31 December 14,073 2,335 311 16,7192022At 1 January 14,064 2,539 340 16,943 Foreign exchange adjustments - (14)(86)(100)Cash flows - (865)(58)(923)Acquisitions - 40 - 40 Lease additions 2.6 - 765 - 765 Fair value adjustments 4.4 (108) - 43 (65)Other 17 (1) 124 140 At 31 December 13,973 2,464 363 16,800 Accounting policyIssued bonds and bank loans are recognised initially at fair value net of transaction costs (financing fees) and subsequently at amortised cost. Any difference between the proceeds and the nominal value is recognised in Financial expenses over the term of the loan using the effective interest method. Lease liabilities At the commencement date the Group recognises lease liabilities at the present value of the lease payments to be made over the lease term. The present value is calculated using the Group\u2019s incremental borrowing rate if the interest rate implicit in the lease is not readily determinable. Subsequently, the lease liability is measured at amortised cost and remeasured due to modifications such as changes in; 1) lease term, 2) the assessment to purchase the underlying asset, 3) future lease payments (e.g. a change in an index or rate), or 4) the Group\u2019s estimate of the amount expected to be payable under a residual guarantee.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__107": {
"value": "4.2.1 Loans and borrowings(DKKm)Note 2023 2022Issued bonds 14,073 13,973 Lease liabilities 2,335 2,464 Bank loans 311 363 Loans and borrowings 16,719 16,800 Non-current liabilities 13,427 15,945 Current liabilities 3,292 855 Loans and borrowings 16,719 16,800 Cash and cash equivalents (6,093)(5,214)Derivatives, net 2.2, 2.3 39 58 Securities 2.2 (117)(104)Net debt 10,548 11,540 Refinancing On 26 June 2023, ISS entered into a new senior unsecured Revolving Credit Facility of EUR 900 million with a syndicate of 12 banks. The facility matures in June 2028 with a two-year extension option and replaces the EUR 1 billion Revolving Credit Facility maturing in 2024. The new Revolving Credit Facility is not subject to financial covenants and the margin is determined semi-annually based on a margin grid.Furthermore, EUR 300 million of EMTN bonds will mature in December 2024 and EUR 500 million will mature in July 2025. In the first half of 2024, the Group will evaluate different refinan-cing options. Except for this, ISS has no material short-term debt maturities.Financing fees At 31 December 2023, accumulated financing fees recognised in loans and borrowings amounted to DKK 54 million (2022: DKK 57 million). The decrease compared to last year was due to ordinary amortisation of DKK 29 million (2022: DKK 22 million) recognised in financial expenses, partly offset by financing fees of DKK 26 million being capitalised in relation to the new Revolving Credit Facility.Fair value At 31 December 2023, the fair value of bonds was DKK 13,474 million (2022: DKK 15,751 mil-lion). The fair value of bonds was based on the quoted market price on the Luxembourg Stock Exchange and measurement is categorised as Level 1 in the fair value hierarchy. For the remaining loans and borrowings, the fair values are not materially different from their carrying amounts due to their short-term nature.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__113": {
"value": "4.2.2 Financial income and expenses(DKKm)2023 2022Interest income on cash and cash equivalents 98 67 Monetary gain on hyperinflation restatement 87 138 Financial income 185 205 1)Interest expenses on loans and borrowings (356) (299)1)Interest expenses on lease liabilities (121) (78)1)Interest expenses on factoring (71) (22)Bank fees(62)(49)1)Amortisation of financing fees (non-cash)(29) (22)Net interest on defined benefit obligations(24)(17)Commitment fees(16)(43)Other (13)(10)Foreign exchange losses (100)(49)Financial expenses (792)(589)1) Measurement basis amortised cost.Monetary gain on hyperinflation restatementrelated to the adjustment for hyperinflation (IAS29) in T\u00fcrkiye.Interest expenses on loans and borrowingscomprised mainly interest on issued bonds. The increase compared to 2022 was driven by increased interest rates throughout 2023 of which DKK 43 million related to the interest rate swap on part of the bonds.Interest expenses on factoring increased due to higher facility utilisation and increased interest rates throughout 2023.Foreign exchange losses were mainly driven by the unhedged TRY and EUR positions. The highest contributor is TRY, which remains unhedged due to high cost. TRY depreciated 39% against DKK in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__112": {
"value": "4.2.2 Financial income and expenses(DKKm)2023 2022Interest income on cash and cash equivalents 98 67 Monetary gain on hyperinflation restatement 87 138 Financial income 185 205 1)Interest expenses on loans and borrowings (356) (299)1)Interest expenses on lease liabilities (121) (78)1)Interest expenses on factoring (71) (22)Bank fees(62)(49)1)Amortisation of financing fees (non-cash)(29) (22)Net interest on defined benefit obligations(24)(17)Commitment fees(16)(43)Other (13)(10)Foreign exchange losses (100)(49)Financial expenses (792)(589)1) Measurement basis amortised cost.Monetary gain on hyperinflation restatementrelated to the adjustment for hyperinflation (IAS29) in T\u00fcrkiye.Interest expenses on loans and borrowingscomprised mainly interest on issued bonds. The increase compared to 2022 was driven by increased interest rates throughout 2023 of which DKK 43 million related to the interest rate swap on part of the bonds.Interest expenses on factoring increased due to higher facility utilisation and increased interest rates throughout 2023.Foreign exchange losses were mainly driven by the unhedged TRY and EUR positions. The highest contributor is TRY, which remains unhedged due to high cost. TRY depreciated 39% against DKK in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__111": {
"value": "4.2.2 Financial income and expenses(DKKm)2023 2022Interest income on cash and cash equivalents 98 67 Monetary gain on hyperinflation restatement 87 138 Financial income 185 205 1)Interest expenses on loans and borrowings (356) (299)1)Interest expenses on lease liabilities (121) (78)1)Interest expenses on factoring (71) (22)Bank fees(62)(49)1)Amortisation of financing fees (non-cash)(29) (22)Net interest on defined benefit obligations(24)(17)Commitment fees(16)(43)Other (13)(10)Foreign exchange losses (100)(49)Financial expenses (792)(589)1) Measurement basis amortised cost.Monetary gain on hyperinflation restatementrelated to the adjustment for hyperinflation (IAS29) in T\u00fcrkiye.Interest expenses on loans and borrowingscomprised mainly interest on issued bonds. The increase compared to 2022 was driven by increased interest rates throughout 2023 of which DKK 43 million related to the interest rate swap on part of the bonds.Interest expenses on factoring increased due to higher facility utilisation and increased interest rates throughout 2023.Foreign exchange losses were mainly driven by the unhedged TRY and EUR positions. The highest contributor is TRY, which remains unhedged due to high cost. TRY depreciated 39% against DKK in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__110": {
"value": "4.2.2 Financial income and expenses(DKKm)2023 2022Interest income on cash and cash equivalents 98 67 Monetary gain on hyperinflation restatement 87 138 Financial income 185 205 1)Interest expenses on loans and borrowings (356) (299)1)Interest expenses on lease liabilities (121) (78)1)Interest expenses on factoring (71) (22)Bank fees(62)(49)1)Amortisation of financing fees (non-cash)(29) (22)Net interest on defined benefit obligations(24)(17)Commitment fees(16)(43)Other (13)(10)Foreign exchange losses (100)(49)Financial expenses (792)(589)1) Measurement basis amortised cost.Monetary gain on hyperinflation restatementrelated to the adjustment for hyperinflation (IAS29) in T\u00fcrkiye.Interest expenses on loans and borrowingscomprised mainly interest on issued bonds. The increase compared to 2022 was driven by increased interest rates throughout 2023 of which DKK 43 million related to the interest rate swap on part of the bonds.Interest expenses on factoring increased due to higher facility utilisation and increased interest rates throughout 2023.Foreign exchange losses were mainly driven by the unhedged TRY and EUR positions. The highest contributor is TRY, which remains unhedged due to high cost. TRY depreciated 39% against DKK in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__109": {
"value": "4.2.2 Financial income and expenses(DKKm)2023 2022Interest income on cash and cash equivalents 98 67 Monetary gain on hyperinflation restatement 87 138 Financial income 185 205 1)Interest expenses on loans and borrowings (356) (299)1)Interest expenses on lease liabilities (121) (78)1)Interest expenses on factoring (71) (22)Bank fees(62)(49)1)Amortisation of financing fees (non-cash)(29) (22)Net interest on defined benefit obligations(24)(17)Commitment fees(16)(43)Other (13)(10)Foreign exchange losses (100)(49)Financial expenses (792)(589)1) Measurement basis amortised cost.Monetary gain on hyperinflation restatementrelated to the adjustment for hyperinflation (IAS29) in T\u00fcrkiye.Interest expenses on loans and borrowingscomprised mainly interest on issued bonds. The increase compared to 2022 was driven by increased interest rates throughout 2023 of which DKK 43 million related to the interest rate swap on part of the bonds.Interest expenses on factoring increased due to higher facility utilisation and increased interest rates throughout 2023.Foreign exchange losses were mainly driven by the unhedged TRY and EUR positions. The highest contributor is TRY, which remains unhedged due to high cost. TRY depreciated 39% against DKK in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__108": {
"value": "4.2.2 Financial income and expenses(DKKm)2023 2022Interest income on cash and cash equivalents 98 67 Monetary gain on hyperinflation restatement 87 138 Financial income 185 205 1)Interest expenses on loans and borrowings (356) (299)1)Interest expenses on lease liabilities (121) (78)1)Interest expenses on factoring (71) (22)Bank fees(62)(49)1)Amortisation of financing fees (non-cash)(29) (22)Net interest on defined benefit obligations(24)(17)Commitment fees(16)(43)Other (13)(10)Foreign exchange losses (100)(49)Financial expenses (792)(589)1) Measurement basis amortised cost.Monetary gain on hyperinflation restatementrelated to the adjustment for hyperinflation (IAS29) in T\u00fcrkiye.Interest expenses on loans and borrowingscomprised mainly interest on issued bonds. The increase compared to 2022 was driven by increased interest rates throughout 2023 of which DKK 43 million related to the interest rate swap on part of the bonds.Interest expenses on factoring increased due to higher facility utilisation and increased interest rates throughout 2023.Foreign exchange losses were mainly driven by the unhedged TRY and EUR positions. The highest contributor is TRY, which remains unhedged due to high cost. TRY depreciated 39% against DKK in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__106": {
"value": "Accounting policyIssued bonds and bank loans are recognised initially at fair value net of transaction costs (financing fees) and subsequently at amortised cost. Any difference between the proceeds and the nominal value is recognised in Financial expenses over the term of the loan using the effective interest method. Lease liabilities At the commencement date the Group recognises lease liabilities at the present value of the lease payments to be made over the lease term. The present value is calculated using the Group\u2019s incremental borrowing rate if the interest rate implicit in the lease is not readily determinable. Subsequently, the lease liability is measured at amortised cost and remeasured due to modifications such as changes in; 1) lease term, 2) the assessment to purchase the underlying asset, 3) future lease payments (e.g. a change in an index or rate), or 4) the Group\u2019s estimate of the amount expected to be payable under a residual guarantee.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__114-1": {
"value": "4.3 Financial risk management The Group is exposed to a number of financial risks arising from its operating and financing activi-ties, mainly interest rate risk, liquidity risk, currency risk and credit risk. It is management\u2019s assessment that the Group\u2019s exposure to these risks is low. The Group has not identified additional financial risk exposures in 2023 compared to 2022. Financial risks are managed centrally by Group Treasury based on the Financial Policy, which is reviewed and approved annually by the Board of Directors. Exposure to credit risk on trade receivables and expected credit losses is however managed locally in the operating entities, see 2.1, Trade receivables and credit risk. Through our risk management procedures, financial risks are monitored and reduced to an acceptable level.It is the Group\u2019s policy to mitigate risk exposure derived from its business activities. Group policy does not allow taking speculative positions in the financial markets.On an ongoing basis the Group considers whether the financial risk management approach appropriately addresses the risk exposures. In 2023, the Group decided to cease the use of currency swaps to hedge its currency exposure on net investments in subsidiaries in the UK (GBP), the US (USD) and Switzerland (CHF) as this was no longer considered beneficial, see 4.1.3, Translation reserve. An overview of financial risks and impact assessment at 31 December 2023 is provided to the right. The Group\u2019s objectives and policies for measuring and managing risk exposure are explained in the respective notes. Financial risks Risk Basis for assessment at 31 December NoteCredit risk Low \u2022 Not past due on trade receivables is around 90%2.1(aging analysis)\u2022 Expected credit losses on trade receivables areless than 2% of gross receivables (credit ratings)\u2022 The Group transacts only with financial institutionswith a credit rating of at least A- (cash and cashequivalents)Interest rate risk Low \u2022 82% of the Group's bank loans and bonds carried4.4 fixed rates (2022: 82%)\u2022 Duration of gross debt (fixed-rate period) 2.1years (2022: 2.9)Liquidity risk Low \u2022 Diversified funding portfolio of debt (bonds and4.5bank loans)\u2022 No financial covenants in our main Group facilities(certain covenants apply to the local loan facility inT\u00fcrkiye)\u2022 New revolving credit facility of EUR 900 million(established in 2023) maturing in 2028\u2022 Uncommitted facilities in place to ensure flexibleand efficient liquidity managementCurrency risk Low \u2022 The Group benefits from a natural hedge in4.6having income, costs and investments in the samefunctional currency, country-by-country\u2022 97.7% of the Group's loans and borrowings(external) denominated in EUR (2022: 97.6%)4.4 Interest rate risk Interest rate risk\u2013 low exposureInterest rate risk arises from the possibility that changes in interest rates will affect future cash flows or the fair value of finan-cial instruments. Exposure relates to bank loans, bonds or interest rate swaps with floating interest rates.Risk management policy\u2022 At least 50% of the Group\u2019s bank loansand issued bonds must carry fixed inter-est rates directly or through derivatives\u2022 Duration of gross debt (fixed-rate period)shall be 2-6 yearsMitigation\u2022 The fixed/floating ratio and gross debtduration (fixed-rate period) are measuredon a monthly basis\u2022 Interest rate swaps (fair value hedge) areused to manage the fixed/floating ratioon gross debt4.4.1 Interest-bearing loans and borrowings2023 2022Nominal Nominal Carrying Carrying (DKKm)Maturityinterest ratevalueamountamountIssued bonds (fixed interest rate)EMTNs (EUR 300 million)2024 2.13% 2,237 2,237 2,229 1)EMTNs (EUR 500 million)2025 1.25% 3,727 3,660 3,594 EMTNs (EUR 500 million)2026 0.88% 3,727 3,713 3,700 EMTNs (EUR 600 million)2027 1.50% 4,471 4,463 4,450 14,162 14,073 13,973 Bank loans (floating interest rate)Loan facility T\u00fcrkiye (TRY)2026 TLREF 98 97 192 Bank loans and overdrafts (Multi)- - 235 214 171 1) The carrying amount included the accumulated fair value adjustments at 333 311 363 31 December 2023 of the hedged item, see 4.4.2 below. Interest rate sensitivity An increase in relevant interest rates of 1%-point, with all other variables held constant, would have decreased net profit by DKK 26 million (2022: DKK 26 million).The estimate was based on the Group\u2019s floating rate loans and borrowings, i.e. disregarding cash and cash equivalents, as the level at 31 December is typically the highest in the year and thus not representative for the purpose of this analysis. Loan portfolio \u2013 fixed vs. floating interest rates202382% Fixed18%Floating4.4.2 Fair value hedgeNominalCarrying Accumulated Change(DKKm)amountamountfair value adj.in FVInterest rate swap EUR 300 million (57) (57)51Bond (fixed-rate borrowing), maturing 2025 EUR 500 million 3,660 57(51)At 31 December 2023, the Group had an interest rate swap agreement with a nominal amount of EUR 300 million whereby the Group receives a fixed rate interest and pays a variable interest rate on the nominal amount. The swap hedges the exposure to changes in the fair value of the Group's fixed rate bond maturing in 2025.In 2023, no ineffectiveness was recognised in profit or loss (2022: no ineffectiveness).The contractual maturity of the interest rate swap is illustrated in 4.5.1, Financial liabilities.Accounting policyThe Group\u2019s interest rate swap qualifies as fair val-ue hedge as the risk being hedged is the possible change in the fair value of a recognised liability. Thus, hedge accounting is applied. The change in the fair value of the interest rate swap (the hedging instrument) is recognised in profit or loss under Financial income or Financial expenses. The change in the fair value of the hedged item (the bond) attributable to the risk being hedged is recognised as part of the carry-ing amount of the hedged item and is also rec-ognised in profit or loss under Financial income or Financial expenses. As the hedge is effective there is no net impact on profit or loss.The unamortised fair value is recognised in profit or loss if the hedged item is derecognised.Fair value measurement takes current market data into account. The Group uses valuation tech-niques that are appropriate in the circumstances and for which sufficient data are available to measure fair value. Measurement is categorised as Level 2 in the fair value hierarchy as it is based on directly observable market data.4.5 Liquidity risk Liquidity risk \u2013 low exposureLiquidity risk results from the Group\u2019s potential inability or difficulty in meeting the contractual obligations associated with its financial liabilities due to insufficient liquidity. Risk management policy\u2022 Maintain an appropriate level of short- and long-term liquidity reserves (liquidfunds and committed credit facilities)\u2022 Maintain a smooth maturity profile interms of different maturities\u2022 Maintain access to diversified fundingsourcesMitigation\u2022 Raising capital is managed centrallyby Group Treasury to ensure efficientliquidity management\u2022 Group Treasury monitors the risk ofinsufficient liquidity on a daily basis\u2022 Liquidity is transferred to/from ISSGlobal A/S, which operates as the Group\u2019sinternal bank\u2022 For day-to-day liquidity managementcash pools have been established in themajority of the local entities4.5.1 Financial liabilities Contractual maturitiesCarrying Contractual< 1 1\u20132 2\u20133 3\u20134 4\u20135 > 5 (DKKm)amountcash flowsyearyearsyearsyearsyearsyears2023Bonds and bank loans 14,384 14,998 2,725 3,905 3,852 4,516 - - Lease liabilities 2,335 2,572 1,028 564 382 235 126 237Trade payables and other 4,979 4,979 4,979 - - - - - Derivatives 63 63 63 - - - - - Total financial liabilities 21,761 22,612 8,795 4,469 4,234 4,751 126 237 2022Bonds and bank loans 14,336 15,224 431 2,512 3,914 3,861 4,506 - Lease liabilities 2,464 2,600 765 578 436 271 180 370 Trade payables and other 3,746 3,746 3,746 - - - - -Derivatives 108 108 108 - - - - -Total financial liabilities 20,654 21,678 5,050 3,090 4,350 4,132 4,686 370The contractual maturities of financial liabilities above are based on the undiscounted contrac-tual cash flows, i.e. including interest payments estimated based on market expectations at 31 December.The risk implied from the values reflects the one-sided scenario of cash outflows only. Trade payables and other financial liabilities are mainly used to finance operating assets such as trade receivables and property, plant and equipment. Maturity profile\u2013 nominal valuesThe maturity profile of the Group\u2019s current financing, i.e. issued bonds, bank loans and committed bank facil-ities (excluding interest payments) is illustrated in the chart to the right.4.5.2 Liquidity reserves (DKKm)2023 2022Cash and cash equivalents 6,093 5,214 Restricted cash (46) (35)Unused revolving credit facilities 6,708 7,276 Liquidity reserves 12,755 12,455 Not readily available(686) (1,078)Readily available liquidity 12,069 11,377 Cash and cash equivalent reflects the strong liquidity position of the Group. The level is typically highest at 31 December and not a representative level for the rest of the year. Restricted cash DKK 46 million of the total cash and cash equivalents at 31 December 2023 was placed on blocked or restricted bank accounts due to legal cases and tax-related circumstances. Unused revolving credit facilities The Group has a EUR 900 million revolving credit facility maturing in June 2028 with a two years exten-sion option. In addition, uncommitted credit facilities are available in countries and at Group level, which are not considered part of the readily available liquidity. At 31 December 2023, these amounted to DKK 3.9 billion of which DKK 0.1 billion was drawn (2022: DKK 0.9 billion of which DKK 0.2 billion was drawn). Not readily available Cash is considered readilyavailable when upstreaming to the parent company (ISS A/S) is possible within five days. In a number of countries, transfer to ISS A/S is assessed to take more than five days due to local administrative processes, and thus such cash is not deemed readily available.4.6 Currency riskCurrency risk \u2013 low exposureCurrency risk arises from changes in ex-change rates, and affects the Group\u2019s result, investments or value of financial instruments. The Group's exposure to currency risk on transaction level is low since income, costs and investments are in the same functional currency country-by-country. Currency risk therefore predominantly arises from fund-ing and investments in subsidiaries.Risk management policy \u2022 It is Group policy to pool funding activities centrally and fund investments in subsidiaries through a combination of intercompany loans and equity\u2022 Currency risk on intercompany loans is generally hedged against DKK or EUR when exposure exceeds DKK 5 million. Some currencies cannot be hedged within a reasonable price range why correlation to a proxy currency is considered and, if deemed appropriate, proxy hedging is applied\u2022 Exposure to EUR is monitored but not hedged due to the fixed rate exchange policy between DKK/EUR\u2022 Currency risk on net investments are as a main policy not hedged Mitigation \u2022 Currency swaps are used to hedge currency risk on loans and borrowings (external), intercompany balances and long-term receivables (external)\u2022 Currency exposure on loans and borrow-ings, intercompany balances and cash and cash equivalents is measured at least on a weekly basis4.6.1 Loans and borrowings SensitivityCurrency Currency exposure swapsExposure, Increase Profit Comprehensive (DKKm)(nominal)(contractual)netin FX or lossincome2023EUR/DKK (17,593) 8,104 (9,489)1% (95)(95)1)TRY/DKK 322 - 322 30% 71 97 USD/DKK 1,043 (1,200)(157)10% (16)(16)Other/DKK (957) 1.352 395 10% 40 40 Total (17,185) 8,256 (8,929)2022EUR/DKK (17,212) 7,333 (9,879)1% (99)(99)USD/DKK 1,431 (1,575)(144)10% (14)(14)Other/DKK (1,176) 1,774 598 10% 60 60 Total (16,957) 7,532 (9,425)1) TRY is not hedged due to high costs of hedging. Foreign currency sensitivity A change in relevant currencies, with all other variables held constant, would have impacted profit or loss and other comprehensive income with the amounts above. The analysis is based on the Group\u2019s internal monitoring of currency exposure on loans and borrowings, intercompany loans, external long-term receivables, cash and cash equivalents as well as accrued royalties (Group internal).The impact on profit or loss related to a change in TRY is adjusted for the translation effect related to receivables considered part of the net investment in T\u00fcrkiye.Change in avg. FX rates 2022-2023 2021-2022TRY (30.7)% (40.8)%GBP (1.8)% 0.8 % USD (2.7)% 12.6 % CHF 3.4 % 7.7 % AUD (6.7)% 3.9 % NOK (11.4)% 0.7 % SEK (7.2)% (4.5)%HKD (2.7)% 11.7 % EUR 0.2 % 0.0 % ( ) = Weakened against DKK.4.6.2 Translation risk Impact on profit or loss In 2023, changes in average FX rates resulted in a decrease in Group revenue of DKK 2,476 million or 3.4% (2022: increase of DKK 843 million or 1.2%) and a decrease of the Group\u2019s operating profit before other items of DKK 175 million or 5.9% (2022: decrease of DKK 45 million or 2.5%), including the impact of hyperinflation in T\u00fcrkiye. Excluding hyperinflation impact in T\u00fcrkiye, changes in average exchange rates resulted in a decrease in Group revenue of DKK 2,320 million or 3.1% (2022: increase of DKK 688 million or 1.0%) and a decrease of the Group\u2019s operating profit before other items of DKK 157 million or 5.3% (2022: decrease of DKK 16 million or 0.9%).Foreign currency sensitivity A 10% change (TRY: 30% and EUR: 1% change) in relevant currencies, with all other variables held constant, would have impacted profit or loss with the amounts below. Operating profit (DKKm)Revenuebefore other itemsTRY 1,450 88 GBP 1,004 38 USD 672 27 CHF 638 51 AUD 485 36 NOK 381 32 SEK 304 18 HKD 250 15 EUR 229 12 Other 1,065 36 Total 6,478 353",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__116": {
"value": "4.4.1 Interest-bearing loans and borrowings2023 2022Nominal Nominal Carrying Carrying (DKKm)Maturityinterest ratevalueamountamountIssued bonds (fixed interest rate)EMTNs (EUR 300 million)2024 2.13% 2,237 2,237 2,229 1)EMTNs (EUR 500 million)2025 1.25% 3,727 3,660 3,594 EMTNs (EUR 500 million)2026 0.88% 3,727 3,713 3,700 EMTNs (EUR 600 million)2027 1.50% 4,471 4,463 4,450 14,162 14,073 13,973 Bank loans (floating interest rate)Loan facility T\u00fcrkiye (TRY)2026 TLREF 98 97 192 Bank loans and overdrafts (Multi)- - 235 214 171 1) The carrying amount included the accumulated fair value adjustments at 333 311 363 31 December 2023 of the hedged item, see 4.4.2 below. Interest rate sensitivity An increase in relevant interest rates of 1%-point, with all other variables held constant, would have decreased net profit by DKK 26 million (2022: DKK 26 million).The estimate was based on the Group\u2019s floating rate loans and borrowings, i.e. disregarding cash and cash equivalents, as the level at 31 December is typically the highest in the year and thus not representative for the purpose of this analysis. Loan portfolio \u2013 fixed vs. floating interest rates202382% Fixed18%Floating",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__119": {
"value": "4.4.2 Fair value hedgeNominalCarrying Accumulated Change(DKKm)amountamountfair value adj.in FVInterest rate swap EUR 300 million (57) (57)51Bond (fixed-rate borrowing), maturing 2025 EUR 500 million 3,660 57(51)At 31 December 2023, the Group had an interest rate swap agreement with a nominal amount of EUR 300 million whereby the Group receives a fixed rate interest and pays a variable interest rate on the nominal amount. The swap hedges the exposure to changes in the fair value of the Group's fixed rate bond maturing in 2025.In 2023, no ineffectiveness was recognised in profit or loss (2022: no ineffectiveness).The contractual maturity of the interest rate swap is illustrated in 4.5.1, Financial liabilities.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsDesignatedAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__118": {
"value": "4.4.2 Fair value hedgeNominalCarrying Accumulated Change(DKKm)amountamountfair value adj.in FVInterest rate swap EUR 300 million (57) (57)51Bond (fixed-rate borrowing), maturing 2025 EUR 500 million 3,660 57(51)At 31 December 2023, the Group had an interest rate swap agreement with a nominal amount of EUR 300 million whereby the Group receives a fixed rate interest and pays a variable interest rate on the nominal amount. The swap hedges the exposure to changes in the fair value of the Group's fixed rate bond maturing in 2025.In 2023, no ineffectiveness was recognised in profit or loss (2022: no ineffectiveness).The contractual maturity of the interest rate swap is illustrated in 4.5.1, Financial liabilities.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__117": {
"value": "4.4.2 Fair value hedgeNominalCarrying Accumulated Change(DKKm)amountamountfair value adj.in FVInterest rate swap EUR 300 million (57) (57)51Bond (fixed-rate borrowing), maturing 2025 EUR 500 million 3,660 57(51)At 31 December 2023, the Group had an interest rate swap agreement with a nominal amount of EUR 300 million whereby the Group receives a fixed rate interest and pays a variable interest rate on the nominal amount. The swap hedges the exposure to changes in the fair value of the Group's fixed rate bond maturing in 2025.In 2023, no ineffectiveness was recognised in profit or loss (2022: no ineffectiveness).The contractual maturity of the interest rate swap is illustrated in 4.5.1, Financial liabilities.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__122": {
"value": "Accounting policyThe Group\u2019s interest rate swap qualifies as fair val-ue hedge as the risk being hedged is the possible change in the fair value of a recognised liability. Thus, hedge accounting is applied. The change in the fair value of the interest rate swap (the hedging instrument) is recognised in profit or loss under Financial income or Financial expenses. The change in the fair value of the hedged item (the bond) attributable to the risk being hedged is recognised as part of the carry-ing amount of the hedged item and is also rec-ognised in profit or loss under Financial income or Financial expenses. As the hedge is effective there is no net impact on profit or loss.The unamortised fair value is recognised in profit or loss if the hedged item is derecognised.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__121": {
"value": "Accounting policyThe Group\u2019s interest rate swap qualifies as fair val-ue hedge as the risk being hedged is the possible change in the fair value of a recognised liability. Thus, hedge accounting is applied. The change in the fair value of the interest rate swap (the hedging instrument) is recognised in profit or loss under Financial income or Financial expenses. The change in the fair value of the hedged item (the bond) attributable to the risk being hedged is recognised as part of the carry-ing amount of the hedged item and is also rec-ognised in profit or loss under Financial income or Financial expenses. As the hedge is effective there is no net impact on profit or loss.The unamortised fair value is recognised in profit or loss if the hedged item is derecognised.Fair value measurement takes current market data into account. The Group uses valuation tech-niques that are appropriate in the circumstances and for which sufficient data are available to measure fair value. Measurement is categorised as Level 2 in the fair value hierarchy as it is based on directly observable market data.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__120": {
"value": "Accounting policyThe Group\u2019s interest rate swap qualifies as fair val-ue hedge as the risk being hedged is the possible change in the fair value of a recognised liability. Thus, hedge accounting is applied. The change in the fair value of the interest rate swap (the hedging instrument) is recognised in profit or loss under Financial income or Financial expenses. The change in the fair value of the hedged item (the bond) attributable to the risk being hedged is recognised as part of the carry-ing amount of the hedged item and is also rec-ognised in profit or loss under Financial income or Financial expenses. As the hedge is effective there is no net impact on profit or loss.The unamortised fair value is recognised in profit or loss if the hedged item is derecognised.Fair value measurement takes current market data into account. The Group uses valuation tech-niques that are appropriate in the circumstances and for which sufficient data are available to measure fair value. Measurement is categorised as Level 2 in the fair value hierarchy as it is based on directly observable market data.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__124-1": {
"value": "Fair value measurement takes current market data into account. The Group uses valuation tech-niques that are appropriate in the circumstances and for which sufficient data are available to measure fair value. Measurement is categorised as Level 2 in the fair value hierarchy as it is based on directly observable market data.Fair value measurement and disclosure Items are measured at historical cost, except for assets and liabilities held for sale and derivatives that are measured at fair value.Fair value measurements are categorised within the fair value hierarchy and disclosed in the relevant notes.For the purpose of fair value disclosures, management has assessed that the fair values of cash and cash equivalents, trade receivables, contingent consideration, trade payables and other current and non-current financial assets and liabilities approximates their carrying amount largely due to the short-term nature of these items. The fair value of loans and borrow-ings, including methods and assumptions used to estimate the fair value, are disclosed in 4.2, Borrowings and interests.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__126": {
"value": "4.5 Liquidity risk Liquidity risk \u2013 low exposureLiquidity risk results from the Group\u2019s potential inability or difficulty in meeting the contractual obligations associated with its financial liabilities due to insufficient liquidity. Risk management policy\u2022 Maintain an appropriate level of short- and long-term liquidity reserves (liquidfunds and committed credit facilities)\u2022 Maintain a smooth maturity profile interms of different maturities\u2022 Maintain access to diversified fundingsourcesMitigation\u2022 Raising capital is managed centrallyby Group Treasury to ensure efficientliquidity management\u2022 Group Treasury monitors the risk ofinsufficient liquidity on a daily basis\u2022 Liquidity is transferred to/from ISSGlobal A/S, which operates as the Group\u2019sinternal bank\u2022 For day-to-day liquidity managementcash pools have been established in themajority of the local entities4.5.1 Financial liabilities Contractual maturitiesCarrying Contractual< 1 1\u20132 2\u20133 3\u20134 4\u20135 > 5 (DKKm)amountcash flowsyearyearsyearsyearsyearsyears2023Bonds and bank loans 14,384 14,998 2,725 3,905 3,852 4,516 - - Lease liabilities 2,335 2,572 1,028 564 382 235 126 237Trade payables and other 4,979 4,979 4,979 - - - - - Derivatives 63 63 63 - - - - - Total financial liabilities 21,761 22,612 8,795 4,469 4,234 4,751 126 237 2022Bonds and bank loans 14,336 15,224 431 2,512 3,914 3,861 4,506 - Lease liabilities 2,464 2,600 765 578 436 271 180 370 Trade payables and other 3,746 3,746 3,746 - - - - -Derivatives 108 108 108 - - - - -Total financial liabilities 20,654 21,678 5,050 3,090 4,350 4,132 4,686 370The contractual maturities of financial liabilities above are based on the undiscounted contrac-tual cash flows, i.e. including interest payments estimated based on market expectations at 31 December.The risk implied from the values reflects the one-sided scenario of cash outflows only. Trade payables and other financial liabilities are mainly used to finance operating assets such as trade receivables and property, plant and equipment. Maturity profile\u2013 nominal valuesThe maturity profile of the Group\u2019s current financing, i.e. issued bonds, bank loans and committed bank facil-ities (excluding interest payments) is illustrated in the chart to the right.4.5.2 Liquidity reserves (DKKm)2023 2022Cash and cash equivalents 6,093 5,214 Restricted cash (46) (35)Unused revolving credit facilities 6,708 7,276 Liquidity reserves 12,755 12,455 Not readily available(686) (1,078)Readily available liquidity 12,069 11,377 Cash and cash equivalent reflects the strong liquidity position of the Group. The level is typically highest at 31 December and not a representative level for the rest of the year. Restricted cash DKK 46 million of the total cash and cash equivalents at 31 December 2023 was placed on blocked or restricted bank accounts due to legal cases and tax-related circumstances. Unused revolving credit facilities The Group has a EUR 900 million revolving credit facility maturing in June 2028 with a two years exten-sion option. In addition, uncommitted credit facilities are available in countries and at Group level, which are not considered part of the readily available liquidity. At 31 December 2023, these amounted to DKK 3.9 billion of which DKK 0.1 billion was drawn (2022: DKK 0.9 billion of which DKK 0.2 billion was drawn). Not readily available Cash is considered readilyavailable when upstreaming to the parent company (ISS A/S) is possible within five days. In a number of countries, transfer to ISS A/S is assessed to take more than five days due to local administrative processes, and thus such cash is not deemed readily available.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__128": {
"value": "4.5.2 Liquidity reserves (DKKm)2023 2022Cash and cash equivalents 6,093 5,214 Restricted cash (46) (35)Unused revolving credit facilities 6,708 7,276 Liquidity reserves 12,755 12,455 Not readily available(686) (1,078)Readily available liquidity 12,069 11,377 Cash and cash equivalent reflects the strong liquidity position of the Group. The level is typically highest at 31 December and not a representative level for the rest of the year. Restricted cash DKK 46 million of the total cash and cash equivalents at 31 December 2023 was placed on blocked or restricted bank accounts due to legal cases and tax-related circumstances. Unused revolving credit facilities The Group has a EUR 900 million revolving credit facility maturing in June 2028 with a two years exten-sion option. In addition, uncommitted credit facilities are available in countries and at Group level, which are not considered part of the readily available liquidity. At 31 December 2023, these amounted to DKK 3.9 billion of which DKK 0.1 billion was drawn (2022: DKK 0.9 billion of which DKK 0.2 billion was drawn). Not readily available Cash is considered readilyavailable when upstreaming to the parent company (ISS A/S) is possible within five days. In a number of countries, transfer to ISS A/S is assessed to take more than five days due to local administrative processes, and thus such cash is not deemed readily available.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__127": {
"value": "4.5.2 Liquidity reserves (DKKm)2023 2022Cash and cash equivalents 6,093 5,214 Restricted cash (46) (35)Unused revolving credit facilities 6,708 7,276 Liquidity reserves 12,755 12,455 Not readily available(686) (1,078)Readily available liquidity 12,069 11,377 Cash and cash equivalent reflects the strong liquidity position of the Group. The level is typically highest at 31 December and not a representative level for the rest of the year. Restricted cash DKK 46 million of the total cash and cash equivalents at 31 December 2023 was placed on blocked or restricted bank accounts due to legal cases and tax-related circumstances. Unused revolving credit facilities The Group has a EUR 900 million revolving credit facility maturing in June 2028 with a two years exten-sion option. In addition, uncommitted credit facilities are available in countries and at Group level, which are not considered part of the readily available liquidity. At 31 December 2023, these amounted to DKK 3.9 billion of which DKK 0.1 billion was drawn (2022: DKK 0.9 billion of which DKK 0.2 billion was drawn). Not readily available Cash is considered readilyavailable when upstreaming to the parent company (ISS A/S) is possible within five days. In a number of countries, transfer to ISS A/S is assessed to take more than five days due to local administrative processes, and thus such cash is not deemed readily available.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__130": {
"value": "4.6 Currency riskCurrency risk \u2013 low exposureCurrency risk arises from changes in ex-change rates, and affects the Group\u2019s result, investments or value of financial instruments. The Group's exposure to currency risk on transaction level is low since income, costs and investments are in the same functional currency country-by-country. Currency risk therefore predominantly arises from fund-ing and investments in subsidiaries.Risk management policy \u2022 It is Group policy to pool funding activities centrally and fund investments in subsidiaries through a combination of intercompany loans and equity\u2022 Currency risk on intercompany loans is generally hedged against DKK or EUR when exposure exceeds DKK 5 million. Some currencies cannot be hedged within a reasonable price range why correlation to a proxy currency is considered and, if deemed appropriate, proxy hedging is applied\u2022 Exposure to EUR is monitored but not hedged due to the fixed rate exchange policy between DKK/EUR\u2022 Currency risk on net investments are as a main policy not hedged Mitigation \u2022 Currency swaps are used to hedge currency risk on loans and borrowings (external), intercompany balances and long-term receivables (external)\u2022 Currency exposure on loans and borrow-ings, intercompany balances and cash and cash equivalents is measured at least on a weekly basis4.6.1 Loans and borrowings SensitivityCurrency Currency exposure swapsExposure, Increase Profit Comprehensive (DKKm)(nominal)(contractual)netin FX or lossincome2023EUR/DKK (17,593) 8,104 (9,489)1% (95)(95)1)TRY/DKK 322 - 322 30% 71 97 USD/DKK 1,043 (1,200)(157)10% (16)(16)Other/DKK (957) 1.352 395 10% 40 40 Total (17,185) 8,256 (8,929)2022EUR/DKK (17,212) 7,333 (9,879)1% (99)(99)USD/DKK 1,431 (1,575)(144)10% (14)(14)Other/DKK (1,176) 1,774 598 10% 60 60 Total (16,957) 7,532 (9,425)1) TRY is not hedged due to high costs of hedging. Foreign currency sensitivity A change in relevant currencies, with all other variables held constant, would have impacted profit or loss and other comprehensive income with the amounts above. The analysis is based on the Group\u2019s internal monitoring of currency exposure on loans and borrowings, intercompany loans, external long-term receivables, cash and cash equivalents as well as accrued royalties (Group internal).The impact on profit or loss related to a change in TRY is adjusted for the translation effect related to receivables considered part of the net investment in T\u00fcrkiye.Change in avg. FX rates 2022-2023 2021-2022TRY (30.7)% (40.8)%GBP (1.8)% 0.8 % USD (2.7)% 12.6 % CHF 3.4 % 7.7 % AUD (6.7)% 3.9 % NOK (11.4)% 0.7 % SEK (7.2)% (4.5)%HKD (2.7)% 11.7 % EUR 0.2 % 0.0 % ( ) = Weakened against DKK.4.6.2 Translation risk Impact on profit or loss In 2023, changes in average FX rates resulted in a decrease in Group revenue of DKK 2,476 million or 3.4% (2022: increase of DKK 843 million or 1.2%) and a decrease of the Group\u2019s operating profit before other items of DKK 175 million or 5.9% (2022: decrease of DKK 45 million or 2.5%), including the impact of hyperinflation in T\u00fcrkiye. Excluding hyperinflation impact in T\u00fcrkiye, changes in average exchange rates resulted in a decrease in Group revenue of DKK 2,320 million or 3.1% (2022: increase of DKK 688 million or 1.0%) and a decrease of the Group\u2019s operating profit before other items of DKK 157 million or 5.3% (2022: decrease of DKK 16 million or 0.9%).Foreign currency sensitivity A 10% change (TRY: 30% and EUR: 1% change) in relevant currencies, with all other variables held constant, would have impacted profit or loss with the amounts below. Operating profit (DKKm)Revenuebefore other itemsTRY 1,450 88 GBP 1,004 38 USD 672 27 CHF 638 51 AUD 485 36 NOK 381 32 SEK 304 18 HKD 250 15 EUR 229 12 Other 1,065 36 Total 6,478 353",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__131": {
"value": "4.6.2 Translation risk Impact on profit or loss In 2023, changes in average FX rates resulted in a decrease in Group revenue of DKK 2,476 million or 3.4% (2022: increase of DKK 843 million or 1.2%) and a decrease of the Group\u2019s operating profit before other items of DKK 175 million or 5.9% (2022: decrease of DKK 45 million or 2.5%), including the impact of hyperinflation in T\u00fcrkiye. Excluding hyperinflation impact in T\u00fcrkiye, changes in average exchange rates resulted in a decrease in Group revenue of DKK 2,320 million or 3.1% (2022: increase of DKK 688 million or 1.0%) and a decrease of the Group\u2019s operating profit before other items of DKK 157 million or 5.3% (2022: decrease of DKK 16 million or 0.9%).Foreign currency sensitivity A 10% change (TRY: 30% and EUR: 1% change) in relevant currencies, with all other variables held constant, would have impacted profit or loss with the amounts below. Operating profit (DKKm)Revenuebefore other itemsTRY 1,450 88 GBP 1,004 38 USD 672 27 CHF 638 51 AUD 485 36 NOK 381 32 SEK 304 18 HKD 250 15 EUR 229 12 Other 1,065 36 Total 6,478 353",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"s8_notesesefdkgaap__7__132": {
"value": "5.1 Income tax5.1.1 Tax in profit or loss (DKKm)2023 2022Current tax 487 525 Deferred tax 66 (110)Prior year adjustments, net 1 (10)Income tax 554 405 In 2023, income tax was DKK 554 million (2022: DKK 405 million). The increase was mainly driven by changes in deferred tax which due to a lower amount of temporary differences as well as utilisation of deferred tax losses resulted in a tax expense of DKK 66 million (2022: tax income of DKK 110 million from recognition of additional deferred tax assets on tax losses).5.1.2 Effective tax rate2023 2022Statutory income tax rate, Denmark 22.0% 22.0 % Foreign tax rate differential, net 0.0% (0.2)% Total 22.0% 21.8 % Non-tax-deductible expenses less non-taxable income 1.0 % (1.9)% Prior year adjustments, net 0.0 % (0.4)%Changes in valuation of tax assets, net (3.9)% (3.8)% Changes in tax rates0.4 % 0.4 % Hyperinflation 1.1 % (1.6)% Other taxes 1.3 % 1.6 % Effective tax rate21.9% 16.1 %Development in 2023 In 2023, the Group\u2019s effective tax rate increased to 21.9% (2022: 16.1%), mainly driven by non-recurring non-taxable gains on divestments in 2022 and the impact from hyperinflation restatement in T\u00fcrkiye.Compared to the statutory income tax in Den-mark of 22%, the effective tax rate was mainly positively impacted by release of valuation allowance on deferred tax assets in Germany and the Netherlands, whereas hyperinflation restatement in T\u00fcrkiye negatively impacted negatively.Non-tax-deductible expenses less non-taxable income comprised various income and expens-es. In 2023, the net non-deductible expenses comprised mainly recurring negative impacts of interest limitation in Denmark. In 2022, non-taxable divestment gains in Hong Kong and the UK impacted positively, partly offset by the recurring negative impacts from interest limitation in Denmark.Changes in valuation of tax assets, net related mainly to release of valuation allowance on tax losses in Germany and the Netherlands due to expected improvements in future profitability (2022: Spain, the Netherlands and Germany).Changes in tax rates was mainly driven by the US due to difference in federal tax rate (21%) and the tax rate applied for deferred taxes, including state taxes (24%). In 2022, the change was mainly driven by changed income tax rates in T\u00fcrkiye from 20% to 25% (effective from 2023) and in the UK from 19% to 25% (effective from April 2023).Hyperinflation related to the hyperinflation ad-justment in T\u00fcrkiye, including the positive impact from change in local tax rules leading to step-up in tax bases of assets due to hyperinflation.Other taxes mainly comprised withholding tax, e.g. in Denmark.Country effective tax rateThe effective tax rate (ETR) for our largest countries is disclosed below. The country ETR may deviate from the statutory income tax rate due to e.g. effects from change in valuation of deferred tax assets, non-tax-able gains on divestments, withholding taxes without credit exemption or from prior year adjustments.Statutory income Countriestax 2023 2022Australia 30.0% 29.9% 30.3 % Denmark (incl. HQ) 22.0% 66.7% 27.0 % Finland 20.0% 28.2% 24.5 % Germany 30.3% 102.3 % 40.4 %Norway 22.0% 22.0% 20.2 %Spain 25.0% 26.8% (18.9)% Switzerland 18.0% 17.9% 18.1 %T\u00fcrkiye 25.0% 37.4% (6.1)%UK 23.5% 7.5% 17.1 % US 21.0% 36.2% (104.2)%",
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"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"s8_notesesefdkgaap__7__133": {
"value": "5.2 Deferred tax5.2.1 Recognised deferred tax Assets Liabilities(DKKm)2023 2022 2023 2022Tax losses carried forward 561 482 - - Goodwill 4 4 423 387 Brands - - 350 350 Customer contracts 7 7 187 150 Property, plant and equipment 176 220 487 425 Provisions and other liabilities 981 977 692 685 Pensions 157 126 82 62 Tax losses in foreign subsidiaries under Danish joint taxation - - 23 23 Set-off within legal tax units and jurisdictions (924) (904) (924) (904)Total 962 912 1,320 1,178Development in deferred tax (DKKm)2023 2022Deferred tax liabilities, 266 186 net at 1 JanuaryPrior year adjustments, net 18 32 Foreign exchange adjustments 26 (22)Hyperinflation restatement (4) 62 Acquisitions and divestments, net (2) 20 Other comprehensive income (33) 53 Reclass to Assets/ (Liabilities) held for sale 21 24 Tax on profit before tax 66 (89)Deferred tax liabilities, net at 31 December 358 266 Prior year adjustments, net mainly related to ad-justment of tax deductions (temporary differences) in the final tax returns. Acquisitions and divestments, net in 2023 related to the acquisition of Grupo Fissa in Spain (2022: Livit FM Services AG in Switzerland). Other comprehensive income comprised tax on actuarial (gains)/losses on pensions.5.2.2 Unrecognised deferred tax assetsAt 31 December 2023, the Group had unrecognised deferred tax assets which comprised tax losses carried forward and other deductible temporary differences of DKK 1,032 million (2022: DKK 1,814 million) mainly related to Germany.The decrease was mainly due to France being classified as held for sale and discontinued op-erations in 2023. Unrecognised tax losses can be carried forward indefinitely in the individual countries, except for China, where tax losses can be carried forward for 5 years.Accounting policyDeferred tax is provided using the liability method on temporary differences between tax bases of assets and liabilities and their carrying amounts, except for goodwill which is not deductible for tax purposes. Where alternative taxation rules can be applied to determine the tax base, deferred tax is measured according to management\u2019s intended use of the asset or settlement of the liability. Deferred tax is measured according to the taxation rules and tax rates in the respective countries applicable at the reporting date when the deferred tax becomes current tax.Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in non-current assets at the expected value of their utilisation, either as a set-off against tax on future income, or as a set-off against deferred tax liabilities in the same legal tax entity and jurisdiction.The Group has applied the mandatory excep-tion for recognition and disclosure of deferred tax assets and liabilities arising from Pillar Two Income taxes.5.2.3 Uncertain tax positions Uncertain tax positions include ongoing disputes with tax authorities in certain jurisdictions and have been provided for in accordance with the accounting policies. Management believes that the provisions made are adequate. However, the actual obligations may deviate as they depend on the result of litigations and settlements with the relevant tax authorities. The final outcome of some of the ongoing disputes is expected to be determined in 2024-2025. Significant accounting estimates and judgementsDeferred tax assets relating to tax losses carried forward are recognised, when management assesses that these can be offset against positive taxable income in the foreseeable future. The assessment is made at the reporting date taking into account the impact from limitation in interest deductibility and local tax restrictions in utilisation of tax losses. Future taxable income is based on financial forecasts approved by man-agement and expectations for operational devel-opment, mainly in terms of organic growth and operating margin, i.e. the cash flow projections made for the purpose of the Group\u2019s impairment tests, see 3.2, Impairment tests. These represent management\u2019s best estimates, but are by nature associated with significant uncertainty.Uncertain tax positions As part of operating a global business, disputes with tax authorities around the world may occur. Management periodically evaluates positions taken in tax returns with respect to situations where appli-cable tax regulation is subject to interpretation and considers whether it is probable that a tax authority will accept an uncertain tax treatment. The possible outcome of uncertain tax positions is measured based on management\u2019s best estimate of the amount required to settle the obligation and recognised in deferred tax or income tax depending on the tax position.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"s8_notesesefdkgaap__7__136": {
"value": "Accounting policyDeferred tax is provided using the liability method on temporary differences between tax bases of assets and liabilities and their carrying amounts, except for goodwill which is not deductible for tax purposes. Where alternative taxation rules can be applied to determine the tax base, deferred tax is measured according to management\u2019s intended use of the asset or settlement of the liability. Deferred tax is measured according to the taxation rules and tax rates in the respective countries applicable at the reporting date when the deferred tax becomes current tax.Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in non-current assets at the expected value of their utilisation, either as a set-off against tax on future income, or as a set-off against deferred tax liabilities in the same legal tax entity and jurisdiction.The Group has applied the mandatory excep-tion for recognition and disclosure of deferred tax assets and liabilities arising from Pillar Two Income taxes.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__135": {
"value": "Accounting policyDeferred tax is provided using the liability method on temporary differences between tax bases of assets and liabilities and their carrying amounts, except for goodwill which is not deductible for tax purposes. Where alternative taxation rules can be applied to determine the tax base, deferred tax is measured according to management\u2019s intended use of the asset or settlement of the liability. Deferred tax is measured according to the taxation rules and tax rates in the respective countries applicable at the reporting date when the deferred tax becomes current tax.Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in non-current assets at the expected value of their utilisation, either as a set-off against tax on future income, or as a set-off against deferred tax liabilities in the same legal tax entity and jurisdiction.The Group has applied the mandatory excep-tion for recognition and disclosure of deferred tax assets and liabilities arising from Pillar Two Income taxes.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__134": {
"value": "Accounting policyDeferred tax is provided using the liability method on temporary differences between tax bases of assets and liabilities and their carrying amounts, except for goodwill which is not deductible for tax purposes. Where alternative taxation rules can be applied to determine the tax base, deferred tax is measured according to management\u2019s intended use of the asset or settlement of the liability. Deferred tax is measured according to the taxation rules and tax rates in the respective countries applicable at the reporting date when the deferred tax becomes current tax.Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in non-current assets at the expected value of their utilisation, either as a set-off against tax on future income, or as a set-off against deferred tax liabilities in the same legal tax entity and jurisdiction.The Group has applied the mandatory excep-tion for recognition and disclosure of deferred tax assets and liabilities arising from Pillar Two Income taxes.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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},
"s8_notesesefdkgaap__7__138-1": {
"value": "6.1 Management remuneration EGMCorporate Senior (DKK thousand)Board EGMBOfficers2023Base salary and non-monetary benefits 9,176 13,484 50,671Pensions - 386 3,916Annual bonus (STIP)- 7,176 15,709Sign-on bonus - - 11,658\u200a1)Share-based payments- (4,603) 18,664Severance payments - - 16,161Total remuneration 9,176 16,443 116,7792022Base salary and non-monetary benefits 8,587 15,123 49,935Pensions - 146 1,916Annual bonus (STIP) - 11,572 30,101Sign-on bonus - - 2,066\u200a1)Share-based payments - 7,310 14,741Total remuneration 8,587 34,151 98,7591) In 2023, share-based payments to the EGMB included a cost reversal of DKK 7 million (2022: DKK 0 million) due to forfeited PSUs as the Group CEO Jacob Aarup-Andersen left ISS.The Executive Group Management (EGM) comprises the Executive Group Management Board (EGMB) and Corporate Senior Officers of the Group. Members of the EGM have authority and responsibility for planning, implementing and controlling the Group\u2019s activities and are together with the Board of Directors (Board) considered as the Group\u2019s key management personnel. On 1 September 2023, Jacob Aarup-Andersen stepped down as Group CEO and was suc-ceeded by former Group CFO Kasper Fangel. A search process for a new Group CFO was initiated. In the period until 31 December 2023, the EGMB comprised only one member, the Group CEO. As a result, total remuneration to the EGMB decreased compared to 2022.Remuneration policy is described in the Remu-neration report which is available here7.3.2 Key management personnelThe Board of Directors (Board) and the Executive Group Management (EGM) are considered the Group\u2019s key management personnel as defined in 6.1, Management remuneration. Apart from remuneration, including share-based incentive programmes, there were no significant transactions with members of the Board and the EGM in 2023.",
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"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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},
"s8_notesesefdkgaap__7__139": {
"value": "6.2 Share-based payments6.2.1 Long-term incentive programme Members of the EGM and other senior officers of the Group are granted a number of perfor-mance share units (PSUs) under the annual LTIP. Participants are compensated for any dividend distributed between time of grant and time of vesting. Upon vesting, each PSU entitles the holder to receive one share at no cost.Subject to certain criteria, the PSUs will vest after three years.In 2023, the Group recognised a cost of DKK 72 million (2022: DKK 80 million) related to share-based payment programmes (see overview below for PSUs and overview in 6.2.2, Special incentive programmes (SIP) for RSUs) with a corresponding increase in equity.1)Fair value and profit or loss impact LTIP 2020 LTIP 2021 LTIP 2022 LTIP 2023Fair value (DKKm)At grant date 102 116 129 116 At 31 December 2023 - 83 98 102 Profit or loss impact (DKKm)Recognised in 2023 3 17 27 23 Not yet recognised - 4 34 65 PSUs and participants (number)Participants 109 122 142 151 PSUs granted 1,461,173 1,362,540 1,428,980 994,916 PSUs expected to vest, % 32% 64% 68% 62%1) Vested in March 2023. Fair value assumptions LTIP 2020 LTIP 2021 LTIP 2022 LTIP 2023At the time of grant 1)Share price, DKK98 111-153 117-153 122-153 2)Expected volatility29.1% 47.2% 47.5% 44.2%Expected life of grant, years 3 3 3 3 2)Risk-free interest rate(0.4)%-1.9% (0.6)%-0.9% (0.1%)-1.5% 1.0%-3.1%1) Based on five-day average. 2) Based on observable market data for peer groups. Vesting criteriaThe vesting criteria are total shareholder return (TSR), measured relative to peer group performance, and earnings per share (EPS). For LTIP 2021, LTIP 2022 and LTIP 2023 the weight of the individual criteria are:\u2022 TSR: 40%\u2022 EPS: 40%\u2022 Service-based objective: 20%For LTIP 2020, TSR and EPS were equally weighted (no service-based objective).Vested programmes In March 2023, the LTIP 2020 programme vested. Based on the annual EPS and TSR performances for 2020, 2021 and 2022, 32% of the granted PSUs vested at a weighted average price of DKK 152 at the date of exercise. After this vesting, no further PSUs are outstanding under the LTIP 2020 and the programme has lapsed.Furthermore, in March 2024, the PSUs granted under LTIP 2021 will vest with 64% based on the annual EPS and TSR performances for 2021, 2022 and 2023. TSR performance criteriaThreshold Vesting TSRBelow 0\u200a% Below median thresholdof peersThreshold 25\u200a% At median of peersMaximum 100\u200a% At upper quartile of peers or betterTSR peers are the Nasdaq Copenhagen OMX C25 and a peer group of comparable international service companies.EGMOutstanding PSUsOtherCorporateSenior LTIP 2020 (vested in 2023)EGMBSenior OfficersOfficers TotalOutstanding at 1 January 2022 59,769 177,999 1,025,210 1,262,978 Forfeited - - (31,586) (31,586)Transferred - (10,382) 10,382 - Outstanding at 31 December 2022 59,769 167,617 1,004,006 1,231,392 Transferred - (25,773) 25,773 - Exercised (19,397) (46,033) (334,169) (399,599)Expired (40,372) (95,811) (695,610) (831,793)Outstanding at 31 December 2023 - - - -LTIP 2021 (vesting in 2024)Outstanding at 1 January 2022 148,297 176,746 772,721 1,097,764 Granted - 11,015 64,856 75,871 Forfeited - (8,583) (71,403) (79,986)Transferred - 6,578 (6,578) - Outstanding at 31 December 2022 148,297 185,756 759,596 1,093,649 Granted 451 18,857 26,414 45,722 Forfeited (118,308) - (50,695) (169,003)Transferred - (57,053) 57,053 - Outstanding at 31 December 2023 30,440 147,560 792,368 970,368 LTIP 2022 (vesting in 2025)Granted 139,713 265,208 948,934 1,353,855 Forfeited - (18,233) (115,516) (133,749)Transferred - (9,116) 9,116 - Outstanding at 31 December 2022 139,713 237,859 842,534 1,220,106 Granted 516 17,149 57,460 75,125 Forfeited (105,396) (6,085) (102,561) (214,042)Transferred - (58,320) 58,320 - Outstanding at 31 December 2023 34,833 190,603 855,753 1,081,189 LTIP 2023 (vesting in 2026)Granted 47,698 191,237 755,981 994,916 Forfeited - (17,357) (100,948) (118,305)Transferred - (30,068) 30,068 - Outstanding at 31 December 2023 47,698 143,812 685,101 876,611 6.2.2 Special incentive programmes (SIP) The Group has a Special Incentive Programme (SIP) under which Restricted Share Units (RSUs) are granted to certain Corporate Senior Officers (EGM members) and other senior officers of the Group. Subject to individual service criteria, the RSUs will vest after two or three years. Upon vesting, each RSU entitles the holder to receive one share at no cost.In September 2023, a total of 10,178 RSUs were granted to certain Other Senior Officers under the SIP 2023 programme.Vested programmes In March 2023, the SIP 2020-2023 programme vested. Based on individual service criteria, 100% of the granted RSUs vested at a weighted average price of DKK 152 at the date of exercise. After this vesting, no further RSUs are outstand-ing under the SIP 2020-2023 and the programme has lapsed. In March 2025, the RSUs granted under the SIP 2023 programme will vest 100% subject to achievement of individual service criteria. 1)Fair value and profit or loss impact SIP 2020-2023SIP 2023Fair value (DKKm)At grant date 24 1 At 31 December 2023 - 1 Profit or loss impact (DKKm)Recognised in 2023 2 0 Not yet recognised - 1 RSUs and participants (number)Participants 37 4 RSUs granted 232,730 10,178 Expected to vest, % 100% 100%1) Vested in March 2023. Fair value assumptionsSIP 2020-2023 SIP 2023At the time of grantShare price, DKK 101 122 Expected life of grant, years 3 1.5EGMOutstanding RSUsCorporateOtherSenior SeniorSIP 2020-2023 (vested in 2023)OfficersOfficers TotalOutstanding at 1 January 2022 26,619 193,258 219,877 Granted - 5,759 5,759 Forfeited - (1,462) (1,462)Transferred 10,432 (10,432) - Outstanding at 31 December 2022 37,051 187,123 224,174 Exercised (37,051) (187,123) (224,174)Outstanding at 31 December 2023 - - -SIP 2023 (vesting in 2025)Granted - 10,178 10,178 Outstanding at 31 December 2023 - 10,178 10,178 Accounting policyThe value of services received in exchange for granted performance-based share units (PSUs) and restricted share units (RSUs) are measured at fair value at the grant date and recognised in employee costs over the vesting period with a corresponding increase in equity, as both schemes are equity-settled. The fair value of granted PSUs under the long-term incentive programme is measured using a generally accepted valuation model taking into consideration the terms and conditions upon which the PSUs were granted including market-based vesting conditions (Total Shareholder Return (TSR)). On initial recognition, an estimate is made of the number of PSUs and RSUs expected to vest. The es-timated number is subsequently revised for changes in the number of PSUs and RSUs expected to vest due to non-market based vesting conditions.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
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"s8_notesesefdkgaap__7__140": {
"value": "Accounting policyThe value of services received in exchange for granted performance-based share units (PSUs) and restricted share units (RSUs) are measured at fair value at the grant date and recognised in employee costs over the vesting period with a corresponding increase in equity, as both schemes are equity-settled. The fair value of granted PSUs under the long-term incentive programme is measured using a generally accepted valuation model taking into consideration the terms and conditions upon which the PSUs were granted including market-based vesting conditions (Total Shareholder Return (TSR)). On initial recognition, an estimate is made of the number of PSUs and RSUs expected to vest. The es-timated number is subsequently revised for changes in the number of PSUs and RSUs expected to vest due to non-market based vesting conditions.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"s8_notesesefdkgaap__7__141": {
"value": "7.1 Pensions and similar obligations7.1.1 Pension schemes The Group has a significant number of pension schemes with different characteristics. The ma-jority of the schemes are defined contribution plans, but in a number of countries, the Group is also party to defined benefit plans. Defined contribution plans These are pension schemes where contributions are paid to publicly or privately administered pension plans. The Group has no further payment obligations once the contributions have been paid. In 2023, contributions amounted to DKK 1,161 million (2022: DKK 1,223 million), or 83% of the Group\u2019s pension costs (2022: 84%). Defined benefit plans Under these schemes the obligation towards the employees as well as the risk associated with future developments in salary, interest rate, inflation, mortality, etc. rests with the Group. The plans are primarily based on years of service, and benefits are determined on the basis of salary and position. The largest plans are in Switzerland and the UK accounting for 87% (2022: 86%) of the Group\u2019s obligation (gross) and 98% (2022: 97%) of its plan assets.The majority of the obligations are funded with assets placed in independent pension funds. In some countries, primarily Sweden, France, T\u00fcrkiye, Hong Kong and Mexico, the obligation is unfunded. For unfunded plans, the obligation amounted to DKK 665 million or 8% of the present value of the total gross obligation (2022: DKK 633 million or 8%). Multiemployer pension plans In a few countries, the Group participates in mul-tiemployer pension schemes that by nature are defined benefit plans. Some funds are not able to provide the necessary information in order for the Group to account for the schemes as defined benefit plans and these schemes are therefore accounted for as defined contribution plans. 7.1.2 Major defined benefit plansSwitzerland Participants are insured against the financial consequences of:\u2022 retirement;\u2022 disability; and \u2022 deathThe pension plans guarantee a minimum interest credit and fixed conversion rates at retirement and include a risk-sharing element between ISS and the plan participants.Contributions are paid by both ISS and the employees and the plans must be fully funded. In case of underfunding, recovery measures must be taken, such as additional financing from ISS or from ISS and the employees, reduction of benefits or a combination of both.The UK Participants are insured against the financial consequences of:\u2022 retirement; and \u2022 deathThe pension plans guarantee a defined benefit pension at retirement on a final salary basis, but do not provide any insured disability benefits. The majority of the plans does not include a risk-shar-ing element between ISS and the plan participants. costsPension costs1.4DKKbn83%Defined contribution17% Defined benefitobligation, Penross\u2013 funded vs. unfunded8.8DKKbn92%Funded8%UnfundedPension obligation, gross \u2013 by country8.8DKKbn77%Switzerland10%UK13%Other7.1.3 Defined benefit plans (carrying amounts)2023 2022Present Fair value Present Fair value value of of plan Carrying value of of plan Carrying (DKKm)obligationassetsamountobligationassetsamountAt 1 January 7,953 8,663 (710) 8,625 8,997 (372)Current service costs199 - 199 197 - 197 Interest on obligation/plan assets 257 233 24 72 55 17 Past service costs 18 - 18 11 - 11 Recognised in profit or loss 474 233 241 280 55 225 Remeasurement (gain)/loss: Demographic assumptions (7) - (7) 7 - 7 Financial assumptions 399 - 399 (1,702) - (1,702) Experience adjustments 90 - 90 490 - 490 Return on plan assets - 20 (20) - (997) 997 Asset ceiling - 299 (299) - (43) 43 Recognised in other comprehensive income 482 319 163 (1,205) (1,040) (165)Foreign exchange adjustments 328 501 (173) 214 295 (81)Acquisitions and divestments, net - - - 227 219 8 Employee contributions 173 173 - 154 154 - Employer contributions - 260 (260) - 207 (207)Benefits paid (605) (512) (93) (342) (267) (75)Asset ceiling - (299) 299 - 43 (43)Reclass to Liabilities held for sale (50) - (50) - - - Other changes (154) 123 (277) 253 651 (398)At 31 December 8,755 9,338 (583) 7,953 8,663 (710)Recognised in the statement of financial position (DKKm) 2023 2022Carrying amount of defined benefit plans (583) (710)1)Accumulated impact from asset ceiling 1,172 1,352 2)Defined benefit obligation, net 589 642 Other long-term employee benefits 546 543 Pensions and similar obligations 1,135 1,185 1) Including a foreign exchange adjustment on the opening balance of DKK 119 million (2022: DKK 56 million).2) Including an asset of DKK 326 million (2022: DKK 247 million) related to defined benefit plans in the UK. Development in 2023 In 2023, actuarial calculations led to recognition of actuarial losses due to decreased discount rates (financial assumptions) of DKK 399 million, mainly in Switzerland. This was partly offset by a positive return on plan assets of DKK 20 million and a decrease in the asset ceiling of DKK 299 million, primarily related to Switzerland and the UK. The net impact on the pension obligation from actuarial calculations was a loss of DKK 163 million recognised in other comprehensive income. In recent years, we have experienced strong asset returns and actuarial gains, which led to a significant surplus on the major plans in Swit-zerland and the UK. Due to surplus restrictions (ISS does not have access to the overfunding), a significant asset ceiling has been recognised in prior years.In 2023, market conditions for our plan assets including listed shares, bonds, and real estate improved compared to 2022, resulting in a gain on plan assets in Switzerland and the UK. Due to a larger increase in the pension obligation (gross) the asset ceiling decreased by DKK 299 million. As such, by the end of 2023, the accumulated impact from the asset ceiling was DKK 1,172 million (2022: DKK 1,352 million).Contributions in 2023 In 2023, the Group contributed DKK 353 million to defined benefit plans (2022: DKK 283 million). The Group expects to contribute DKK 352 million in 2024.categories of Plan assets an assets\u2013 major categories9.3DKKbn31% Listed shares25% Corporate bonds 19% Property3% Government bonds3%Cash and cash equivalents19% Other% of total plan assets7.1.4 Actuarial assumptions2023 2022Other Other CHF GBP EURcurrencies CHF GBP EURcurrenciesDiscount rates 1.5% 4.5% 3.3-4.3% 5.7-26.6% 2.3% 4.8 % 3.7-3.8% 1.0-10.7% Salary increase 1.1% 0.0-3.1% 0.0-3.6% 3.0-24.3% 1.3% 0.0-2.7% 2.6-3.2% 0.0-12.0% Pension increase 0.0% 2.6-3.0% 0.0-2.8% 0.0-1.8% 0.0% 2.7-3.2% 0.0-2.2% 0.0-2.2% Sensitivity analysis The sensitivities related to significant actuarial assumptions used in the calculation of thedefined benefit obligation in terms of estimat-ed increase/(decrease) in the obligation are illustrated below. The analysis is based on changes in assump-tions, with all other variables held constant, that the Group considered to be reasonably possible at the reporting date. 2023 2022(DKKm)+0.5%(0.5)% +0.5%(0.5)%Discount rate(376) 409 (334) 363 Price inflation 64 (55) 74 (65)Salary increase 76 (76) 93 (74)Pension increase 241 (236) 248 (248)+1 year -1 year +1 year -1 yearLife expectancy 147 (144) 136 (133)Duration The estimated weighted average duration of the defined benefit obligation was 9 years (2022: 9 years) and is split into: (Years)2023 2022Active employees 8 6 Retired employees 12 11 1)Deferred vested 15 7 Total employees 9 9 1) The impact from deferred vested on total estimated weighted average duration is minor due to the fact that deferred vested make up less than 2% of the participants, and do not exist in many of the shorter duration plans. Significant accounting estimatesActuarial calculations and valuations are performed annually for all major plans. The present value of defined benefit obligations is determined based on assumptions about the future development in vari-ables such as salary levels, interest rates, inflation and mortality. Applied assumptions vary from country to country due to local conditions. All assumptions are assessed at the reporting date.The discount rates used for calculating the present value of expected future cash flows are based on the market yield of high-quality corporate bonds or government bonds with a maturity approximating to the terms of the defined benefit obligations.When the Group participates in multi-employer pen-sion plans being accounted for as defined contribu-tion plans due to unavailability of information, there is a risk that the plans are not sufficiently funded. However, information on surplus or deficit in the schemes is not available.Accounting policyContributions to defined contribution plans are recognised in Employee costs when the related service is provided. Defined benefit plans The Group\u2019s net obligation is calculated by a qualified actuary using the projected unit credit method, separately for each plan by estimating the amount of future benefits that em-ployees have earned in return for their service in the current and prior periods. The present value less the fair value of plan assets is recognised in Pensions and similar obligations. When the calculation results in a potential asset, recognition is limited to the present value of economic benefits available in the form of future refunds from or reductions in future contributions to the plan. To calculate the present value, consideration is given to applicable minimum funding requirements.Pension costs are calculated based on actuarial esti-mates and financial expectations at the beginning of the year. Service costs are recognised in Employee costs and net interest is recognised in Financial expenses.Remeasurements (actuarial gains/losses), compris-ing the differences between the expected devel-opment in pension assets and liabilities and the realised amounts at the reporting date as well as the effect of asset ceiling are recognised in other comprehensive income.When the benefits are changed or a plan is curtailed, the resulting change in benefits that relates to past service or the gain or loss on curtailment is recognised in Employee costs. Gains and losses on settlement are recognised when incurred.The aggregated value of unfunded plans is pre-sented as a net liability and the aggregated value of funded plans are presented as a net asset.Other long-term employee benefits are calculated as defined pension plans, except that actuarial gains and losses are recognised in Employee costs. Other long-term employee benefits comprise jubilee bene-fits, long-service or sabbatical leave, etc.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__142": {
"value": "Accounting policyContributions to defined contribution plans are recognised in Employee costs when the related service is provided. Defined benefit plans The Group\u2019s net obligation is calculated by a qualified actuary using the projected unit credit method, separately for each plan by estimating the amount of future benefits that em-ployees have earned in return for their service in the current and prior periods. The present value less the fair value of plan assets is recognised in Pensions and similar obligations. When the calculation results in a potential asset, recognition is limited to the present value of economic benefits available in the form of future refunds from or reductions in future contributions to the plan. To calculate the present value, consideration is given to applicable minimum funding requirements.Pension costs are calculated based on actuarial esti-mates and financial expectations at the beginning of the year. Service costs are recognised in Employee costs and net interest is recognised in Financial expenses.Remeasurements (actuarial gains/losses), compris-ing the differences between the expected devel-opment in pension assets and liabilities and the realised amounts at the reporting date as well as the effect of asset ceiling are recognised in other comprehensive income.When the benefits are changed or a plan is curtailed, the resulting change in benefits that relates to past service or the gain or loss on curtailment is recognised in Employee costs. Gains and losses on settlement are recognised when incurred.The aggregated value of unfunded plans is pre-sented as a net liability and the aggregated value of funded plans are presented as a net asset.Other long-term employee benefits are calculated as defined pension plans, except that actuarial gains and losses are recognised in Employee costs. Other long-term employee benefits comprise jubilee bene-fits, long-service or sabbatical leave, etc.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__143": {
"value": "7.2 Hyperinflation in T\u00fcrkiyeImpact on the consolidated financial statementsInflation restatement, Inflation restatement, in yearin year2023 Non-Profit Retrans- Total 20232022 Non-Profit Retrans- Total 2022(excl. monetary or loss lation adjust-(re-(excl. monetary or loss lation adjust-(re-(DKKm)IAS 29)itemsitems(YE FX)mentsported)IAS 29)itemsitems(YE FX)mentsported)Profit or lossRevenue 78,683 - 1,130 (1,132) (2) 78,681 73,684 - 580 (426) 154 73,838 Operating profit before other items 3,348 (58) 90 (80) (48) 3,300 2,947 (48) 51 (32) (29) 2,918 Operating profit 3,199 (73) 90 (78) (61) 3,138 2,944 (60) 50 (30) (40) 2,904 Net profit 319 22 - (16) 6 325 2,070 77 - (11) 66 2,136 Financial ratiosOrganic growth (non-IFRS)9.7% - - - - 9.7%8.4% - - - - 8.4%Operating margin (non-IFRS)4.3% (0.1)% 0.1% (0.1)% (0.1)% 4.2%4.0% (0.1)% 0.1% (0.0)% (0.0)% 4.0%Cash flowsCash flow from operating activities 3,433 - - (41) (41) 3,392 3,340 - - (7) (7) 3,333 Cash flow from investing activities(1,051) - - 9 9 (1,042) (553) - - 7 7 (546)Cash flow from financing activities (1,317) - - (17) (17) (1,334) (928) - - (2) (2) (930)Free cash flow (non-IFRS)1,791 - - (16) (16) 1,775 1,726 - - 8 8 1,734 2023 Inflation 20232022 Inflation 2022(excl. restatement,(re-(excl. restatement,(re-(DKKm)IAS 29)accumulatedported)IAS 29)accumulatedported)Financial positionGoodwill 18,964 732 19,696 19,806 644 20,450 Other intangible assets 3,281 295 3,576 3,246 224 3,470 Right-of-use assets and property, plant and equipment 3,017 109 3,126 3,235 85 3,320 Total assets 46,557 1,136 47,693 46,052 953 47,005 1)Other comprehensive income (1,179)936 (243)(56) 814 758 Other equity elements 10,666 99 10,765 9,980 77 10,057 Total equity 9,487 1,035 10,522 9,924 891 10,815 Deferred tax liabilities 1,219 101 1,320 1,116 62 1,178 Total equity and liabilities 46,557 1,136 47,693 46,052 953 47,005 1) In year impact of restatement amounted to DKK 467 million (2022: DKK 814 million).Development in 2023 In 2023, the impact of hyperinflation restate-ment on our three key KPIs, i.e. organic growth (non-IFRS), operating margin (non-IFRS) and free cash flow (non-IFRS) continued to be immaterial. However, the Group\u2019s statement of financial position was significantly impacted, mainly by increasing the carrying amount of goodwill, customer contracts and equity.Financial position Accumulated goodwill increased by DKK 732 million (2022: DKK 644 million) and Other intangible assets (customer contracts) by DKK 295 million (2022: DKK 224 million), mainly due to restatement of fair values carried from the acquisition of R\u00f6nesans in 2021 and the original acquisition of ISS T\u00fcrkiye in 2005. Thus, by the end of 2023, intangible assets included accumulated hyperinflation adjust-ments of DKK 1,027 million. Likewise, total accumulated equity increased DKK 1,035 million (2022: DKK 891 million) mainly due to opening restatement of non-monetary items of DKK 467 million (2022: DKK 814 million) and restatement effect from changes in the price index during the year. Profit or loss Net impact on revenue was DKK (2) million (2022: DKK 154 million) of which DKK 1,130 million (2022: DKK 580 million) related to increase in price index of 31% during the year (2022: 21%). This was offset by the impact from retranslation to exchange rates at 31 December of DKK 1,132 million (2022: DKK 426 million) as the TRY/DKK exchange rate decreased from 37.25 in the beginning of 2023 to 22.82 at 31 December 2023. Accounting policyInflation restatement The financial statements of ISS T\u00fcrkiye are restated for inflation to reflect the purchasing power at the reporting date using the consumer price index.Non-monetary items, which are carried at historical cost, such as goodwill, customer contracts, right-of-use assets, property, plant and equipment and deferred tax, have been restated for the effect of inflation based on changes in the price index for the period from initial recognition to 31 December 2023 or to the date of disposal, where relevant. The restatement was made effective from the time, the items were initially recognised, which was no earlier than 2005, when ISS first entered T\u00fcrkiye through an acquisition.Management assesses whether the restatement of non-monetary items represents an indication of impairment to ensure that the restated amounts do not exceed the recoverable amounts of the assets, see 3.2, Impairment tests.Monetary items such as receivables, payables, loans and borrowings are not subject to restatement for the effects of inflation as these items already reflect the purchasing power at the reporting date.Equity includes the opening effect of restating non-monetary items. Further, the restatement effects of inflation based on changes in the price index for the reporting period is recognised in other comprehensive income with set-off within financial income or expenses in profit or loss.Profit or loss transactions in the period are restated to reflect changes in the price index from the time of transaction to the end of the reporting period with the exception of depreciation and amortisation, which are recalculated based on the inflation-adjusted carry-ing value of the relevant non-monetary assets. The restating gain or loss is recognised in financial income or expenses, except for the tax effect, which is recognised under income tax.Cash flow statement Operating profit before other items includes a non-cash effect from the inflation restatement, which has been eliminated in the line Non-cash items related to hyperinflation. Price indexRestatement for hyperinflation of the financial state-ments of ISS T\u00fcrkiye is based on the development in the consumer price index provided by the T\u00fcrkiyish Statistical Institute calculated as an average year to date conversion factor. For 2023, the inflation rate in T\u00fcrkiye was 64.77% (2022: 64%).Retranslation from TRY to DKK The financial statements of ISS T\u00fcrkiye, including effects of inflation restatement, are translated into DKK apply-ing the TRY/DKK exchange rate at the reporting date as opposed to the Group\u2019s normal practice of translating the profit or loss using the exchange rate at the trans-action date or an average exchange rate for the month. The TRY/DKK exchange rate decreased from 37.25 at the beginning of 2023 to 22.82 at 31 December 2023. The average rate was 29.80 (2022: 43.00).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfHyperinflationaryReportingExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__144": {
"value": "7.3 Related parties7.3.1 Parent and ultimate controlling partyThe Group\u2019s parent, ISS A/S, is the ultimate controlling party. At 31 December 2023, ISS had no related parties with either control of the Group or significant influence in the Group. 7.3.2 Key management personnelThe Board of Directors (Board) and the Executive Group Management (EGM) are considered the Group\u2019s key management personnel as defined in 6.1, Management remuneration. Apart from remuneration, including share-based incentive programmes, there were no significant transactions with members of the Board and the EGM in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__146": {
"value": "7.4 Fees to auditors(DKKm)2023 2022Statutory audit 70 73Other assurance services 2 2Tax and VAT advisory services 6 7Other services 8 4Total 86 86Other assurance services comprised work related to the interim financial statements and other assurance services.Tax and VAT advisory services mainly related to tax compliance services.Other services comprised among other things work related to acquisitions and divestments, such as financial and tax due diligence.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__147": {
"value": "7.5 Subsequent eventsNo events have occurred subsequent to 31 December 2023, which could have a significant impact on the consolidated financial statements.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__148": {
"value": "The 2023 Annual Report for ISS A/S was discussed and approved by the Executive Group Management Board (the EGMB) and the Board of Directors (the Board) on 22 February 2024 and issued for approval at the subsequent annual general meeting on 11 April 2024.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__150-1": {
"value": "Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with IFRS Accounting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act (class D). In addition, the consolidated financial statements have been prepared in compliance with the IFRS Accounting Standards issued by the IASB.The consolidated financial statements have been prepared on the basis that the Group will continue to operate as a going concern. The consolidated financial statements are presented in Danish kroner (DKK), which is ISS A/S\u2019s functional currency. All amounts have been rounded to nearest DKK million (DKKm), unless otherwise stated.Fair value measurement and disclosure Items are measured at historical cost, except for assets and liabilities held for sale and derivatives that are measured at fair value.Fair value measurements are categorised within the fair value hierarchy and disclosed in the relevant notes.For the purpose of fair value disclosures, management has assessed that the fair values of cash and cash equivalents, trade receivables, contingent consideration, trade payables and other current and non-current financial assets and liabilities approximates their carrying amount largely due to the short-term nature of these items. The fair value of loans and borrow-ings, including methods and assumptions used to estimate the fair value, are disclosed in 4.2, Borrowings and interests.Reporting under the ESEF RegulationThe Group is required to prepare and file the Annual Report in the European Single Electronic Format (ESEF) using a combination of the XHTML format and to tag the primary statements and the notes to the consolidated financial statements using iXBRL (Inline eXtensible Business Language).The Group\u2019s iXBRL tags comply with the ESEF taxonomy, which has been developed on the basis of IFRS taxonomy published by the IFRS Foundation. The line items in the consolidated financial statements are tagged to elements in the ESEF taxonomy. For financial line items that are not directly defined in the ESEF taxonomy, an extension to the taxonomy has been created.The Annual Report submitted to the Danish Financial Supervisory Authority (the Officially Appointed Mechanism) consists of the XHTML document together with the technical files, all of which are included in the zip file ISS-2023-12-31-en.zip.",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__149": {
"value": "Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with IFRS Accounting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act (class D). In addition, the consolidated financial statements have been prepared in compliance with the IFRS Accounting Standards issued by the IASB.The consolidated financial statements have been prepared on the basis that the Group will continue to operate as a going concern. The consolidated financial statements are presented in Danish kroner (DKK), which is ISS A/S\u2019s functional currency. All amounts have been rounded to nearest DKK million (DKKm), unless otherwise stated.Fair value measurement and disclosure Items are measured at historical cost, except for assets and liabilities held for sale and derivatives that are measured at fair value.Fair value measurements are categorised within the fair value hierarchy and disclosed in the relevant notes.For the purpose of fair value disclosures, management has assessed that the fair values of cash and cash equivalents, trade receivables, contingent consideration, trade payables and other current and non-current financial assets and liabilities approximates their carrying amount largely due to the short-term nature of these items. The fair value of loans and borrow-ings, including methods and assumptions used to estimate the fair value, are disclosed in 4.2, Borrowings and interests.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__151": {
"value": "The consolidated financial statements have been prepared on the basis that the Group will continue to operate as a going concern.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__152": {
"value": "Fair value measurement and disclosure Items are measured at historical cost, except for assets and liabilities held for sale and derivatives that are measured at fair value.Fair value measurements are categorised within the fair value hierarchy and disclosed in the relevant notes.For the purpose of fair value disclosures, management has assessed that the fair values of cash and cash equivalents, trade receivables, contingent consideration, trade payables and other current and non-current financial assets and liabilities approximates their carrying amount largely due to the short-term nature of these items. The fair value of loans and borrow-ings, including methods and assumptions used to estimate the fair value, are disclosed in 4.2, Borrowings and interests.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__155": {
"value": "Foreign currency Transactions in currencies other than the func-tional currency of the respective Group compa-nies are considered transactions denominated in foreign currencies.On initial recognition, except for companies operating in hyperinflationary environments, for-eign currency transactions are translated to the functional currencies of the Group companies at the exchange rates at the transaction date. Translation differences between the exchange rates at the transaction date and the date of payment are recognised in Financial income or Financial expenses.Monetary items denominated in foreign currencies are translated at the exchange rates at the reporting date. The difference between the exchange rates at the reporting date and at the transaction date or the exchange rate used in the latest financial statements is recognised in Financial income or Financial expenses.On recognition in the consolidated financial statements of Group companies with a func-tional currency other than DKK, the statements of profit or loss and statement of cash flows are translated at the average exchange rates for the period and the statements of financial position are translated at the exchange rates at the reporting date. Foreign exchange adjustments arising on translation of the opening balance of equity of foreign entities and on translation of receivables considered part of the net invest-ment in the entity and on translation of the prof-it or loss statements from the exchange rates at the transaction date to the exchange rates at the reporting date are recognised in other comprehensive income. However, if the foreign entity is a non-wholly owned subsidiary, the relevant proportion of the translation difference is allocated to the non-controlling interest.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__154": {
"value": "Foreign currency Transactions in currencies other than the func-tional currency of the respective Group compa-nies are considered transactions denominated in foreign currencies.On initial recognition, except for companies operating in hyperinflationary environments, for-eign currency transactions are translated to the functional currencies of the Group companies at the exchange rates at the transaction date. Translation differences between the exchange rates at the transaction date and the date of payment are recognised in Financial income or Financial expenses.Monetary items denominated in foreign currencies are translated at the exchange rates at the reporting date. The difference between the exchange rates at the reporting date and at the transaction date or the exchange rate used in the latest financial statements is recognised in Financial income or Financial expenses.On recognition in the consolidated financial statements of Group companies with a func-tional currency other than DKK, the statements of profit or loss and statement of cash flows are translated at the average exchange rates for the period and the statements of financial position are translated at the exchange rates at the reporting date. Foreign exchange adjustments arising on translation of the opening balance of equity of foreign entities and on translation of receivables considered part of the net invest-ment in the entity and on translation of the prof-it or loss statements from the exchange rates at the transaction date to the exchange rates at the reporting date are recognised in other comprehensive income. However, if the foreign entity is a non-wholly owned subsidiary, the relevant proportion of the translation difference is allocated to the non-controlling interest.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__157": {
"value": "8.2 Change in accounting policies and disclosuresFrom 1 January 2023, the Group has adopted the following amendments to standards with no sig-nificant impact on recognition and measurement:\u2022 Amendments to IAS 8: Definition of Account-ing Estimates\u2022 Amendments to IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting Policies \u2022 Amendments to IAS 12: International Tax Reform \u2014 Pillar Two Model Rules\u2022 Amendments to IAS 12: Deferred Tax related to Assets and Liabilities arising from a Single TransactionThe amendments below impacted the disclosures of accounting policies:IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting PoliciesThe amendments to IAS 1 and IFRS Practice Statement 2 requires us to disclose the material accounting policies instead of significant ac-counting policies thereby making the accounting policies more specific and thus more relevant to users. The amendments impacted the Group\u2019s disclosures of accounting policies, but not the measurement, recognition or presentation of any items in the Group\u2019s financial statements. From 2023, only the Group's material accounting policies are disclosed. IAS 12: International Tax Reform \u2014 Pillar Two Model Rules The Group is within the scope of the Pillar Two rules (Pillar II) applying from 1 January 2024. However, since Pillar II was not effective at the reporting date, the Group has no related current tax exposure.The Group applies the mandatory exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar II income taxes, as provided in the 2023 amend-ments to IAS 12.The Group has prepared a preliminary assess-ment of the its exposure to Pillar II income taxes using 2023 data. Based on the preliminary assessment, the Group anticipates to be able to apply the transitional Safe Harbour rules for all countries in 2024, which will switch off the normal Pillar II calculation rules and thus no top-up taxes will be payable for 2024. The transitional Safe Harbour rules are more simple than the normal Pillar II calculation rules, and can be applied during the transitional period for 2024-2026 if specific tests can be fulfilled demonstrating that the risk of Pillar II top-up taxes is low.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__156": {
"value": "8.2 Change in accounting policies and disclosuresFrom 1 January 2023, the Group has adopted the following amendments to standards with no sig-nificant impact on recognition and measurement:\u2022 Amendments to IAS 8: Definition of Account-ing Estimates\u2022 Amendments to IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting Policies \u2022 Amendments to IAS 12: International Tax Reform \u2014 Pillar Two Model Rules\u2022 Amendments to IAS 12: Deferred Tax related to Assets and Liabilities arising from a Single TransactionThe amendments below impacted the disclosures of accounting policies:IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting PoliciesThe amendments to IAS 1 and IFRS Practice Statement 2 requires us to disclose the material accounting policies instead of significant ac-counting policies thereby making the accounting policies more specific and thus more relevant to users. The amendments impacted the Group\u2019s disclosures of accounting policies, but not the measurement, recognition or presentation of any items in the Group\u2019s financial statements. From 2023, only the Group's material accounting policies are disclosed. IAS 12: International Tax Reform \u2014 Pillar Two Model Rules The Group is within the scope of the Pillar Two rules (Pillar II) applying from 1 January 2024. However, since Pillar II was not effective at the reporting date, the Group has no related current tax exposure.The Group applies the mandatory exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar II income taxes, as provided in the 2023 amend-ments to IAS 12.The Group has prepared a preliminary assess-ment of the its exposure to Pillar II income taxes using 2023 data. Based on the preliminary assessment, the Group anticipates to be able to apply the transitional Safe Harbour rules for all countries in 2024, which will switch off the normal Pillar II calculation rules and thus no top-up taxes will be payable for 2024. The transitional Safe Harbour rules are more simple than the normal Pillar II calculation rules, and can be applied during the transitional period for 2024-2026 if specific tests can be fulfilled demonstrating that the risk of Pillar II top-up taxes is low.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__158": {
"value": "8.4 Group companiesNorthern Europe Denmark (ISS A/S's country of domicile)ISS Facility Services A/S 100%ISS Finance B.V. 100%ISS World Services A/S 100%ISS Global A/S 100%ISS Global Management A/S 100%ISS Holding France A/S 100%ISS Lending A/S 100%Belgium & LuxembourgISS Catering N.V. 100%ISS Facility Services N.V. 100%ISS Reception & Support Services N.V. 100%ISS Facility Services S.A. 100%ISS Luxinterim SARL 100%FinlandISS Palvelut Holding Oy 100%ISS Palvelut Oy 100%Suomen Laatutakuu Palvelut Oy 100%NetherlandsISS Building Maintenance Services B.V. 100%ISS Catering Services B.V. 100%ISS Holding Nederland B.V. 100%ISS Integrated Facility Services B.V. 100%ISS Nederland B.V. 100%Talentgroep Montaigne Facility Management B.V.100%Norway ISS Holding AS 100%ISS Management AS 100%ISS Facility Services AS 100%ISS Serveringspartner AS 100%ISS Service Management AS 100%PolandISS Facility Services Sp. Z o.o. 100%ISS World Services Poland Sp. Z o.o. 100%SwedenISS Facility Services Holding AB 100%ISS Facility Services AB 100%ISS Palvelut Holding AB 100%UK & IrelandISS UK Holding Limited 100%ISS UK Limited 100%ISS Facility Services Ltd. 100%ISS Mediclean Limited 100%Pegasus Security Holdings Limited 100%ISS Ireland Ltd. 100%Central & Southern Europe Austria ISS Austria Holding GmbH 100%ISS Facility Services GmbH 100%ISS Ground Services GmbH 100%GermanyISS Automotive Services GmbH 100%ISS Facility Services Holding GmbH 100%ISS Integrated Facility Services GmbH 100%ISS Energy Services GmbH 100%ISS Communication Services GmbH 100%ISS Engineering Services GmbH 100%ItalyISS Facility Services S.r.l. 100%PortugalISS Tech Portugal, Unipessoal Lda. 100%SpainIntegrated Service Solutions, S.L. 100%ISS Facility Services, S.A. 100%1)UTE-HOSPITALES S.A.S 65%SwitzerlandISS Facility Services AG 100%ISS Schweiz AG 100%Livit FM Services AG 100%T\u00fcrkiye3)ISS Hazir Yemek \u00dcretim ve Hizmet A.\u015e. 50.1%3)ISS Proser Koruma ve G\u00fcvenlik Hizmetleri A.\u015e. 50.1%3)ISS Tesis Y\u00f6netim Hizmetleri A.\u015e. 50.1%3)ISS \u0130\u015fletme Hizmetleri A.\u015e (R\u00f6nesans) 50.1%3)ISS Bitki Bakim ve Hasere Kontrol Hizmetleeri A.\u015e.50.1%Asia & PacificAustralia & New ZealandISS Facility Management Pty Limited 100%ISS Facility Services Australia Limited 100%ISS Facility Services Pty Ltd. 100%ISS Health Services Pty Ltd. 100%ISS Holdings Pty Ltd. 100%ISS Integrated Services Pty Ltd 100%ISS Property Services Pty Ltd 100%ISS Security Pty Ltd 100%Pacific Invest December 2004 Pty Ltd. 100%Pacific Service Solutions Pty Ltd. 100%ISS Facility Services Ltd. 100%ISS Holdings NZ Ltd. 100%ChinaISS Facility Services (Shanghai) Ltd. 100%ISS Hongrun (Shanghai) Cleaning Services Limited100%Shanghai B&A Property Management Co., Ltd.100%Shanghai B&A Security Co., Ltd. 100%Shanghai ISS Catering Management Ltd. 100%Hong KongHung Fat Cleaning Transportation Co., Ltd. 100%ISS Adams Secuforce Ltd. 100%ISS China Holdings Ltd. 100%ISS China Holdings I Ltd. 100%ISS EastPoint Properties Ltd. 100%ISS EastPoint Property Management Ltd. 100%ISS Facility Services Ltd. 100%ISS Greater China Ltd. 100%ISS Mediclean (HK) Ltd. 100%ISS Pan Asia Security Services Ltd. 100%JSL Ltd. 100%Silvertech E&M Engineering Co., Ltd. 100%India2)Innovative Salary Services and 46% Payroll Advisory Pvt. Ltd.ISS Facility Services India Pvt. Ltd. 100%2)ISS SDB Security Services Pvt. Ltd. 46%2)Modern Protection India Pvt. Ltd. 46%ISS Support Services Pvt. Ltd. 100%IndonesiaPT ISS Facility Services 99%PT ISS Indonesia 100%2)PT ISS Jasa Fasilitas 0%SingaporeISS Asia Pacific Pte. Ltd. 100%ISS Catering Services Pte. Ltd. 100%ISS Facility Services Pte. Ltd. 100%ISS M&E Pte. Ltd. 100%Americas ChileApunto Servicios de Alimentacion S.A. 100%ISS Chile S.A. 100%ISS Facility Services S.A. 100%ISS Servicios de Limpieza Mecanizada S.A. 100%ISS Servicios Generales Ltda. 100%ISS Servicios Integrales Ltda. 100%MexicoISS Centro Am\u00e9rica, S. de R.L. de C.V. 100%ISS Facility Services, S.A. de C.V. 100%US & CanadaISS Facility Services Holding, Inc 100%ISS Management and Finance Co, Inc 100%ISS Facility Services, Inc (US) 100%Guckenheimer Enterprises Inc 100%ISS C&S Building Maintenance Corporation 100%ISS Facility Services California, Inc 100%ISS Holding Inc 100%ISS TMC Services, Inc 100%ISS Facility Services Inc. (CA) 100%Discontinued operations France GIE ISS Services 100%ISS Facility Services 100%ISS Holding Paris SAS 100%ISS Logistique et Production SAS 100%On this page, the Group's significant subsidiaries and joint ventures are presented per region. Together these are referred to as \"Companies within the ISS Group\".1) Joint venture.2) By virtue of the governance structure, the Group has the power to govern the financial and operating policies of the company.Consequently, the company is consolidated as a subsidiary.3) Under certain circumstances or events, ISS may be obliged to choose to purchase other shareholders\u2019 shareholdings or dispose of its own shareholdings.",
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"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
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"s8_notesesefdkgaap__7__159": {
"value": "8.5 DefinitionsISS uses various key figures, financial ratios and non-financial ratios, all of which provide our stakeholders with useful and necessary information about the Group\u2019s financial position, performance, cash flows and development in a consistent way. In relation to managing the business, achieving our strategic goals and ultimately creating value for our shareholders, these measures are considered essential. In addition, the Group uses alternative perfor-mance measures (APMs) to provide stakeholders with additional measures to evaluate and analyse the Group's performance. The APMs are non-IFRS financial measures defined by the Group and thus may not be comparable with measures provided by peers or other compa-nies' measures. Alternative performance measures EBITDAOperating profit + Depreciation and amortisation + Amortisation/impairment of customer contractsEBITDA before other items Operating profit before other items + Depreciation and amortisation Pro forma adjusted EBITDAEBITDA before other items, including EBITDA before other items in discontinued operations, and adjusted as if all acquisitions and divestments had occurred on 1 January of the respective yearNet profit (adjusted)Net profit excluding Other income and expenses, net, Goodwill impairment, Amortisation/impairment of cus-tomer contracts, impact from hyperinflation (IAS 29) and Net profit from discontinued operations (comparatives are not restated) Free cash flowCash flow from operating activities \u2013 Acq. of intangible assets and property, plant and equipment, net \u2013 Change in financial assets (excl. equity-accounted investees) \u2013 Addition of right-of-use assets, netOrganic growth, %(Revenue current year excl. hyperinflation 1)\u2013 Comparable revenue prior year) x 100 1) Comparable revenueprior yearAcquisitions are treated as having been integrated with ISS at the acquisition date. Consequently, organic growth includes changes in revenue of such acquisitions compared with expectations at the acquisition date. Operating margin, %Operating profit before other items x 100 RevenueTotal revenue growth, % (Revenue current year \u2013 Revenue prior year) x 100Revenue prior yearFinancial ratios Acquisitions, %2)Revenue from acquisitions x 100 Revenue prior yearCash conversion, % Free cash flow x 100 Operating profit before other items3)Currency adjustmentsTotal revenue growth \u2013 Organic growth \u2013 Acquisition/divestment growth, net Divestments, % 4)Revenue from divestments \u00d7 100 Revenue prior yearEquity ratio, % Total equity \u00d7 100 Total assetsNet debt Loans and borrowings \u2013 Securities \u2013 Cash and cash equivalents +/\u2013 Fair value of derivativesShare ratios Basic earnings per share (EPS) Net profit attributable to owners of ISS A/S Average number of shares (basic)Diluted earnings per share (EPS) Net profit attributable to owners of ISS A/S Average number of shares (diluted)Average number of shares (basic) Average number of issued shares, excluding treasury shares, for the yearAverage number of shares (diluted) Average number of shares (basic) + Average number of outstanding PSUs and RSUs expected to vest in the year ESG ratios CO emissions 2Scope 1, 2 and 3 emissions calculated in accordance with the Greenhouse Gas Protocol. For further infor-mation see the 2023 Sustainability Report p. 55. Employee turnover, % Number of employees who left in the year \u00d7 100Average number of employees for the yearCustomer retention, % Portfolio revenue (annual value) retained at 31 December of the portfolio at 1 January Portfolio revenue (annual value) at 1 JanuaryLost Time Injury Frequency (LTIF) LTI is a work-related injury preventing a person from working, i.e. being unfit for at least a full working day or shift. LTIF is based on 1 million exposure hours including contractors under ISS\u2019s operational controlFatalities Measures the number of work-related fatalitiesTraining and development, hoursHours spent by participants while preparing and partic-ipating. All training sponsored by ISS, paid or unpaid as a result of employment within ISS. Gender diversity, Board, % 5)Female board members (AGM elected) \u00d7 100 5)Board members (AGM elected)Board meeting attendance, % Accumulated number of attended board meetings for all board members x 100 Number of board meetings possible to attend for all board membersSpeak Up, number Number of reports received through Speak Up system or alternative channels1) Comparable revenue prior year excludes impacts from changes in exchange rates and acquisitions/divestments, net as well as impact from hyperinflation restatement. To arrive at comparable revenue, prior year\u2019s revenue is retranslated by applying current year\u2019s exchange rates, divestments and impacts from hyperinflation restatements are excluded and estimated impacts from acquisitions are added. 2) Expectations at the acquisition date.3) Incl. the effect from exclusion of currency effects from the calculation of organic growth and acq./div., net.4) Estimated or actual revenue where available at the divestment date.5) AGM = Annual General Meeting.",
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"concept": "ifrs-full:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
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"value": "ISS A/S",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"s8_notesesefdkgaap__7__202": {
"value": "Denmark",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__203": {
"value": "A/S",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
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"s8_notesesefdkgaap__7__204": {
"value": "Denmark",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"value": "Buddingevej 197, DK-2860 S\u00f8borg",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__206": {
"value": "Global",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s8_notesesefdkgaap__7__207": {
"value": "Workplace and facility service solutions",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
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"value": "ISS A/S",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
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"value": "ISS A/S",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:213800LEZA58SZNCBN19",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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