{ "documentInfo": { "documentType": "https://xbrl.org/2021/xbrl-json", "features": { "xbrl:canonicalValues": true }, "namespaces": { "ISS": "http://xbrl.issworld.com/2024-12-31", "ifrs-full": "https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full", "iso4217": "http://www.xbrl.org/2003/iso4217", "scheme": "http://standards.iso.org/iso/17442", "xbrl": "https://xbrl.org/2021", "xbrli": "http://www.xbrl.org/2003/instance" }, "taxonomy": [ "http://xbrl.issworld.com/2024-12-31/ISS-2024-12-31.xsd" ] }, "facts": { "s2__3__5": { "value": "83761000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__5": { "value": "78681000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__6": { "value": "52822000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EmployeeBenefitsExpense", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__6": { "value": "49607000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EmployeeBenefitsExpense", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__7": { "value": "7519000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RawMaterialsAndConsumablesUsed", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__7": { "value": "7323000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RawMaterialsAndConsumablesUsed", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__8": { "value": "17808000000.0", "decimals": -6, "dimensions": { "concept": "ISS:OtherOperatingExpense", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__8": { "value": "17034000000.0", "decimals": -6, "dimensions": { "concept": "ISS:OtherOperatingExpense", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__9": { "value": "1469000000.0", "decimals": -6, "dimensions": { "concept": "ISS:DepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossOtherThanContractsWithCustomers", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__9": { "value": "1417000000.0", "decimals": -6, "dimensions": { "concept": "ISS:DepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossOtherThanContractsWithCustomers", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__10": { "value": "4143000000.0", "decimals": -6, "dimensions": { "concept": "ISS:ProfitLossFromOperatingActivitiesBeforeOtherItems", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__10": { "value": "3300000000.0", "decimals": -6, "dimensions": { "concept": "ISS:ProfitLossFromOperatingActivitiesBeforeOtherItems", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__11": { "value": "-163000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherOperatingIncomeExpense", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__11": { "value": "-93000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherOperatingIncomeExpense", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__12": { "value": "-91000000.0", "decimals": -6, "dimensions": { "concept": "ISS:AmortisationAndImpairmentLossRecognisedInProfitOrLossContractsWithCustomers", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__12": { "value": "-69000000.0", "decimals": -6, "dimensions": { "concept": "ISS:AmortisationAndImpairmentLossRecognisedInProfitOrLossContractsWithCustomers", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__13": { "value": "3889000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__13": { "value": "3138000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__14": { "value": "314000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__14": { "value": "185000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__15": { "value": "904000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__15": { "value": "792000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__16": { "value": "3299000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__16": { "value": "2531000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__17": { "value": "658000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__17": { "value": "554000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__18": { "value": "2641000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromContinuingOperations", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__18": { "value": "1977000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromContinuingOperations", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__19": { "value": "-52000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromDiscontinuedOperations", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__19": { "value": "-1652000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossFromDiscontinuedOperations", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__20": { "value": "2589000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__20": { "value": "325000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__21": { "value": "2581000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__21": { "value": "279000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__22": { "value": "8000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__22": { "value": "46000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__23": { "value": "2589000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__4__23": { "value": "325000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s2__3__24": { "value": "14.3", "decimals": 1, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK/xbrli:shares" } }, "s2__4__24": { "value": "1.5", "decimals": 1, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK/xbrli:shares" } }, "s2__3__25": { "value": "14.1", "decimals": 1, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK/xbrli:shares" } }, "s2__4__25": { "value": "1.5", "decimals": 1, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShare", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK/xbrli:shares" } }, "s2__3__26": { "value": "14.5", "decimals": 1, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShareFromContinuingOperations", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK/xbrli:shares" } }, "s2__4__26": { "value": "10.4", "decimals": 1, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShareFromContinuingOperations", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK/xbrli:shares" } }, "s2__3__27": { "value": "14.4", "decimals": 1, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK/xbrli:shares" } }, "s2__4__27": { "value": "10.3", "decimals": 1, "dimensions": { "concept": "ifrs-full:DilutedEarningsLossPerShareFromContinuingOperations", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK/xbrli:shares" } }, "s3__3__5": { "value": "2589000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__4__5": { "value": "325000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__3__6": { "value": "-140000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__4__6": { "value": "-462000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__3__7": { "value": "28000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__4__7": { "value": "-299000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__3__8": { "value": "-36000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__4__8": { "value": "-33000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__3__9": { "value": "6000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__4__9": { "value": "-478000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__3__10": { "value": "0.0", "dimensions": { "concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__4__10": { "value": "18000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__3__11": { "value": "477000000.0", "decimals": -6, "dimensions": { "concept": "ISS:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTaxHyperinflationRestatementOfNonMonetaryItems", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__4__11": { "value": "467000000.0", "decimals": -6, "dimensions": { "concept": "ISS:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTaxHyperinflationRestatementOfNonMonetaryItems", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__3__12": { "value": "0.0", "dimensions": { "concept": "ifrs-full:GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__4__12": { "value": "-84000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__3__13": { "value": "351000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__4__13": { "value": "-243000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__3__14": { "value": "2940000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__4__14": { "value": "82000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__3__15": { "value": "2799000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__4__15": { "value": "55000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__3__16": { "value": "141000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__4__16": { "value": "27000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__3__17": { "value": "2940000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s3__4__17": { "value": "82000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__5": { "value": "4143000000.0", "decimals": -6, "dimensions": { "concept": "ISS:ProfitLossFromOperatingActivitiesBeforeOtherItems", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__5": { "value": "3300000000.0", "decimals": -6, "dimensions": { "concept": "ISS:ProfitLossFromOperatingActivitiesBeforeOtherItems", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__6": { "value": "-38000000.0", "decimals": -6, "dimensions": { "concept": "ISS:ProfitLossFromOperatingActivitiesBeforeOtherItemsDiscontinuedOperations", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__6": { "value": "-154000000.0", "decimals": -6, "dimensions": { "concept": "ISS:ProfitLossFromOperatingActivitiesBeforeOtherItemsDiscontinuedOperations", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__7": { "value": "1469000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__7": { "value": "1464000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__8": { "value": "-80000000.0", "decimals": -6, "dimensions": { "concept": "ISS:AdjustmentsForNonCashItemsRelatedToHyperinflation", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__8": { "value": "-90000000.0", "decimals": -6, "dimensions": { "concept": "ISS:AdjustmentsForNonCashItemsRelatedToHyperinflation", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__9": { "value": "93000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__9": { "value": "72000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__10": { "value": "495000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInWorkingCapital", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__10": { "value": "-196000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInWorkingCapital", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__11": { "value": "-380000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForProvisions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__11": { "value": "-468000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:AdjustmentsForProvisions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__12": { "value": "-59000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__12": { "value": "-42000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__13": { "value": "207000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__13": { "value": "120000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__14": { "value": "671000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__14": { "value": "578000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__15": { "value": "462000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__15": { "value": "428000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__16": { "value": "3727000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__16": { "value": "3392000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__19": { "value": "510000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__19": { "value": "373000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__20": { "value": "-350000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__20": { "value": "25000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__21": { "value": "634000000.0", "decimals": -6, "dimensions": { "concept": "ISS:PurchaseOfPropertyPlantAndEquipmentAndPurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__21": { "value": "719000000.0", "decimals": -6, "dimensions": { "concept": "ISS:PurchaseOfPropertyPlantAndEquipmentAndPurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__22": { "value": "15000000.0", "decimals": -6, "dimensions": { "concept": "ISS:ProceedsFromSalesOfPropertyPlantAndEquipmentAndProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__22": { "value": "16000000.0", "decimals": -6, "dimensions": { "concept": "ISS:ProceedsFromSalesOfPropertyPlantAndEquipmentAndProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__23": { "value": "57000000.0", "decimals": -6, "dimensions": { "concept": "ISS:IncreaseDecreaseInFinancialAssetsClassifiedAsInvestingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__23": { "value": "-9000000.0", "decimals": -6, "dimensions": { "concept": "ISS:IncreaseDecreaseInFinancialAssetsClassifiedAsInvestingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__24": { "value": "-1536000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__24": { "value": "-1042000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__27": { "value": "3696000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__27": { "value": "0.0", "dimensions": { "concept": "ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__28": { "value": "2237000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RepaymentsOfBondsNotesAndDebentures", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__28": { "value": "0.0", "dimensions": { "concept": "ifrs-full:RepaymentsOfBondsNotesAndDebentures", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__29": { "value": "963000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__29": { "value": "791000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__30": { "value": "-259000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__30": { "value": "-147000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__31": { "value": "0.0", "dimensions": { "concept": "ISS:ProceedsFromChangesInOwnershipInterestsInSubsidiariesAndPaymentsFromChangesInOwnershipInterestsInSubsidiaries", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__31": { "value": "-6000000.0", "decimals": -6, "dimensions": { "concept": "ISS:ProceedsFromChangesInOwnershipInterestsInSubsidiariesAndPaymentsFromChangesInOwnershipInterestsInSubsidiaries", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__32": { "value": "425000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__32": { "value": "390000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__33": { "value": "1217000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__33": { "value": "0.0", "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__34": { "value": "-1405000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__34": { "value": "-1334000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__37": { "value": "786000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__37": { "value": "1016000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__38": { "value": "6093000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__38": { "value": "5214000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__39": { "value": "786000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__39": { "value": "1016000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__40": { "value": "-50000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__40": { "value": "-137000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__41": { "value": "6829000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__41": { "value": "6093000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__3__42": { "value": "1996000000.0", "decimals": -6, "dimensions": { "concept": "ISS:FreeCashFlow", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s4__4__42": { "value": "1775000000.0", "decimals": -6, "dimensions": { "concept": "ISS:FreeCashFlow", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__5": { "value": "24359000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IntangibleAssetsAndGoodwill", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__5": { "value": "23272000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IntangibleAssetsAndGoodwill", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__6": { "value": "2424000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RightofuseAssets", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__6": { "value": "2200000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:RightofuseAssets", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__7": { "value": "998000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__7": { "value": "926000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__8": { "value": "885000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__8": { "value": "962000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__9": { "value": "605000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherNoncurrentFinancialAssets", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__9": { "value": "195000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherNoncurrentFinancialAssets", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__10": { "value": "29271000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__10": { "value": "27555000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__13": { "value": "251000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__13": { "value": "239000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__14": { "value": "12449000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTradeReceivables", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__14": { "value": "11354000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTradeReceivables", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__15": { "value": "120000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxAssetsCurrent", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__15": { "value": "126000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxAssetsCurrent", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__16": { "value": "1721000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCurrentReceivables", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__16": { "value": "1628000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCurrentReceivables", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__17": { "value": "6829000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__17": { "value": "6093000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__18": { "value": "0.0", "dimensions": { "concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__18": { "value": "698000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__19": { "value": "21370000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__19": { "value": "20138000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__22": { "value": "50641000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__22": { "value": "47693000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__25": { "value": "11143000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAttributableToOwnersOfParent", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__25": { "value": "9893000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAttributableToOwnersOfParent", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__26": { "value": "770000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__26": { "value": "629000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__27": { "value": "11913000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__27": { "value": "10522000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__30": { "value": "13584000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__30": { "value": "13427000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__31": { "value": "1316000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentProvisionsForEmployeeBenefits", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__31": { "value": "1135000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentProvisionsForEmployeeBenefits", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__32": { "value": "1156000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__32": { "value": "1320000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__33": { "value": "372000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherLongtermProvisions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__33": { "value": "387000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherLongtermProvisions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__34": { "value": "16428000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__34": { "value": "16269000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__37": { "value": "4757000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShorttermBorrowings", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__37": { "value": "3292000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ShorttermBorrowings", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__38": { "value": "7387000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__38": { "value": "7259000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__39": { "value": "420000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__39": { "value": "155000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__40": { "value": "9505000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCurrentLiabilities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__40": { "value": "8482000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherCurrentLiabilities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__41": { "value": "231000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherShorttermProvisions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__41": { "value": "365000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherShorttermProvisions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__42": { "value": "0.0", "dimensions": { "concept": "ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__42": { "value": "1349000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:LiabilitiesIncludedInDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__43": { "value": "22300000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__43": { "value": "20902000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__46": { "value": "38728000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__46": { "value": "37171000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__3__49": { "value": "50641000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s5__4__49": { "value": "47693000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__5": { "value": "185000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__5": { "value": "-66000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__5": { "value": "11051000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__5": { "value": "-1277000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__5": { "value": "9893000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__5": { "value": "629000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__5": { "value": "10522000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__6": { "value": "0.0", "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__6": { "value": "0.0", "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__6": { "value": "2581000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__6": { "value": "0.0", "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__6": { "value": "2581000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__6": { "value": "8000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__6": { "value": "2589000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__7": { "value": "0.0", "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__7": { "value": "0.0", "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__7": { "value": "-88000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__7": { "value": "306000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__7": { "value": "218000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__7": { "value": "133000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__7": { "value": "351000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__8": { "value": "0.0", "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__8": { "value": "0.0", "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__8": { "value": "2493000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__8": { "value": "306000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__8": { "value": "2799000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__8": { "value": "141000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__8": { "value": "2940000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__9": { "value": "0.0", "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__9": { "value": "0.0", "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__9": { "value": "425000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__9": { "value": "0.0", "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__9": { "value": "425000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__9": { "value": "0.0", "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__9": { "value": "425000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__10": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__10": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__10": { "value": "93000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__10": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__10": { "value": "93000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__10": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__10": { "value": "93000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__11": { "value": "0.0", "dimensions": { "concept": "ISS:SettlementOfVestedPerformanceBasedShareUnitsEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__11": { "value": "79000000.0", "decimals": -6, "dimensions": { "concept": "ISS:SettlementOfVestedPerformanceBasedShareUnitsEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__11": { "value": "-79000000.0", "decimals": -6, "dimensions": { "concept": "ISS:SettlementOfVestedPerformanceBasedShareUnitsEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__11": { "value": "0.0", "dimensions": { "concept": "ISS:SettlementOfVestedPerformanceBasedShareUnitsEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__11": { "value": "0.0", "dimensions": { "concept": "ISS:SettlementOfVestedPerformanceBasedShareUnitsEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__11": { "value": "0.0", "dimensions": { "concept": "ISS:SettlementOfVestedPerformanceBasedShareUnitsEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__11": { "value": "0.0", "dimensions": { "concept": "ISS:SettlementOfVestedPerformanceBasedShareUnitsEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__12": { "value": "0.0", "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__12": { "value": "1217000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__12": { "value": "0.0", "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__12": { "value": "0.0", "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__12": { "value": "1217000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__12": { "value": "0.0", "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__12": { "value": "1217000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:PurchaseOfTreasuryShares", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__13": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__13": { "value": "-1138000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__13": { "value": "-411000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__13": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__13": { "value": "-1549000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__13": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__13": { "value": "-1549000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__14": { "value": "0.0", "dimensions": { "concept": "ifrs-full:ChangesInEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__14": { "value": "-1138000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ChangesInEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__14": { "value": "2082000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ChangesInEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__14": { "value": "306000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ChangesInEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__14": { "value": "1250000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ChangesInEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__14": { "value": "141000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ChangesInEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__14": { "value": "1391000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ChangesInEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__15": { "value": "185000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__15": { "value": "-1204000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__15": { "value": "13133000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__15": { "value": "-971000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__15": { "value": "11143000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__15": { "value": "770000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__15": { "value": "11913000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__21": { "value": "185000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__21": { "value": "-185000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__21": { "value": "11310000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__21": { "value": "-1154000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__21": { "value": "10156000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__21": { "value": "659000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__21": { "value": "10815000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__22": { "value": "0.0", "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__22": { "value": "0.0", "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__22": { "value": "279000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__22": { "value": "0.0", "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__22": { "value": "279000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__22": { "value": "46000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__22": { "value": "325000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__23": { "value": "0.0", "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__23": { "value": "0.0", "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__23": { "value": "-101000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__23": { "value": "-123000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__23": { "value": "-224000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__23": { "value": "-19000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__23": { "value": "-243000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__24": { "value": "0.0", "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__24": { "value": "0.0", "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__24": { "value": "178000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__24": { "value": "-123000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__24": { "value": "55000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__24": { "value": "27000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__24": { "value": "82000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__25": { "value": "0.0", "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__25": { "value": "0.0", "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__25": { "value": "390000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__25": { "value": "0.0", "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__25": { "value": "390000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__25": { "value": "0.0", "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__25": { "value": "390000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__26": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__26": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__26": { "value": "72000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__26": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__26": { "value": "72000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__26": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__26": { "value": "72000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__27": { "value": "0.0", "dimensions": { "concept": "ISS:SettlementOfVestedPerformanceBasedShareUnitsEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__27": { "value": "119000000.0", "decimals": -6, "dimensions": { "concept": "ISS:SettlementOfVestedPerformanceBasedShareUnitsEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__27": { "value": "-119000000.0", "decimals": -6, "dimensions": { "concept": "ISS:SettlementOfVestedPerformanceBasedShareUnitsEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__27": { "value": "0.0", "dimensions": { "concept": "ISS:SettlementOfVestedPerformanceBasedShareUnitsEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__27": { "value": "0.0", "dimensions": { "concept": "ISS:SettlementOfVestedPerformanceBasedShareUnitsEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__27": { "value": "0.0", "dimensions": { "concept": "ISS:SettlementOfVestedPerformanceBasedShareUnitsEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__27": { "value": "0.0", "dimensions": { "concept": "ISS:SettlementOfVestedPerformanceBasedShareUnitsEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__28": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__28": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__28": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__28": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__28": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__28": { "value": "-57000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__28": { "value": "-57000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__29": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__29": { "value": "119000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__29": { "value": "-437000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__29": { "value": "0.0", "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__29": { "value": "-318000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__29": { "value": "-57000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__29": { "value": "-375000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransactionsWithOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__30": { "value": "0.0", "dimensions": { "concept": "ifrs-full:ChangesInEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__30": { "value": "119000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ChangesInEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__30": { "value": "-259000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ChangesInEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__30": { "value": "-123000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ChangesInEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__30": { "value": "-263000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ChangesInEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__30": { "value": "-30000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ChangesInEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__30": { "value": "-293000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:ChangesInEquity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s6__4__31": { "value": "185000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:DKK" } }, "s6__5__31": { "value": "-66000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:DKK" } }, "s6__6__31": { "value": "11051000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:DKK" } }, "s6__7__31": { "value": "-1277000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:DKK" } }, "s6__8__31": { "value": "9893000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:DKK" } }, "s6__9__31": { "value": "629000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:DKK" } }, "s6__10__31": { "value": "10522000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s8__7__32": { "value": "

Significant estimates and judgements

Accounting estimates

\"\"
\"\"
\"\"

1.2Revenue

Large and complex IFS contracts:

Determining the transaction price, including the impact of scope changes (contract modifications)

2.5Provisions

Estimate of future profitability and likely outcomes:

Onerous contracts

Claims, disputes and legal proceedings

3.2Goodwill and

customer contracts

Key assumptions applied for the purpose of impairment testing:

Recoverable amounts of CGUs

5.2Deferred tax

Financial forecasts of future taxable profit impacting recognised deferred tax asset

Uncertain tax positions \u2013 estimate of the amount required to settle the obligation

7.1Pensions and similar obligations

Impact from key assumptions such as salary levels, interest rates, inflation, mortality and guaranteed benefits

Accounting judgements

\"\"
\"\"

1.2Revenue

Large and complex IFS contracts:

Assessment of contractual terms and impact on transaction price

2.2Other receivables

Transition and mobilisation costs \u2013 assessment of capitalisation criteria (generating or enhancing resources to be used in satisfying performance obligations and are expected to be recovered)

2.5Provisions

Large and complex IFS contracts \u2013 assessment of risks and disputes

Onerous contracts \u2013 assessment of termination and extension options

2.6Right-of-use assets

Lease term \u2013 determining whether extension options are reasonably certain to be exercised

3.1Intangible assets

Cloud-based arrangements \u2013 assessment of control and whether configuration/customisation costs result in an intangible assets

Software (owned) \u2013 capitalisation of configuration/customisation costs

7.2Hyperinflation in T\u00fcrkiye

Price index \u2013 assessment of which approach to apply in calculating the conversion factor when restating for hyperinflation, i.e. average year-to-date or average month-to-date

Making judgements, estimates and assumptionsThe preparation of the Group\u2019s consolidated financial state-ments required management to make judgements, estimates and assumptions that affected the reported amounts of assets, liabilities, income and expenses, the accompanying disclo-sures, 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 geopolit-ical 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 determination of these key factors, including discount rates and expectations for the future.

Climate-related matters

\u2013 no material impact

In preparing the Group\u2019s consolidated financial statements, management considered the impact of climate matters and related risks in relation to 1) the going concern assessment; and 2) applying significant estimates and assumptions. This included both transitional risks in the form of increased costs incurred as part of transitioning toward a more sustainable economy, and physical risks due to specific weather events.

Generally, we do not believe that our profitability, 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.

As a result, it is management\u2019s 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.

Accounting estimates & judgements

\"\"
\"\"
\"\"
\"\"
\"\"

Due to our strategic focus on key accounts, our customer base contains a number of large and complex IFS contracts in terms of determining the transaction price, including the impact of scope changes (contract modifications).

Management makes detailed assessments of the contractual terms and on that basis estimates the amount of revenue expected to be received based on services delivered, including an assessment of the probability of such amount being reversed subsequently.

For large and global complex contracts, the outcome may vary significantly, should the judgements and assumptions applied by management in their assessments not be realised as expected.

Accounting judgements

Transition and mobilisation costs(costs to fulfil a contract) comprise costs directly related to start-up of operations of certain large long-term contracts, such as transfer of employees from previous suppliers, site due diligence, planning and developing service 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 contract, 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.

Accounting estimates & judgements

\"\"
\"\"
\"\"
\"\"
\"\"

Due to our strategic focus on key accounts, our customer base contains a number of large complex contracts in terms of performance obligations towards our customers. The size and complexity of such contracts 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 provisions.

Onerous contractsManagement assesses whether contracts may be onerous by estimating the expected future profitability. This involves estimating total contract revenue and the unavoidable costs of meeting the performance obligations under the contract, including any transition and mobilisation costs incurred. In estimating the future profitability, management makes judgements, including in relation to termination and extension options.

Certain contracts are large, complex and longer-term facility service partnerships. When estimating unavoidable costs for such contracts, management makes assumptions around future costs taking expected optimisations and efficiency gains from improvement initiatives into consideration. While ISS has inherent risk in this respect, ISS is by nature also dependent on aligning interests 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.

RestructuringsandOtherprovisions 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 judgements

Lease termThe majority of the Group\u2019s lease contracts for HQ office buildings contain extension options, and additionally a few have no contractual fixed term. This contract structure, which combines fixed term with extension options, is essential to the Group to ensure the right balance of stability and efficiency, while at the same time securing flexibility to adjust based on future business needs.

Management exercises judgement in determining the lease term, including whether extension options are reasonably certain to be exercised. All relevant facts and circumstances are considered, including whether these create an economic incentive for the Group to exercise an option or not:

Strategic and operational development of the ISS business in the specific country, including management\u2019s expectations for organic growth, acquisitions, divestments and restructurings

Suitableness of the location in the longer term

Development in market prices in the specific geographic area

The property\u2019s condition, including significant leasehold improvements undertaken or expected to be undertaken

Termination-related costs, such as penalties, obligations to restore the facility, relocation costs and potential business disruption

Historical length of occupying similar buildings

If the term cannot be reasonably determined, the term for HQ office building contracts without an end date is set to 10 years based on the Group\u2019s past experience.

Management reassesses the lease term based on the above facts and circumstance, if significant changes or events occur, and revises the lease term if appropriate.

Accounting judgements

Software as a Service (SaaS)Generally, the right to access a cloud provider\u2019s software does not give rise to an intangible asset because that right does not in itself give ISS control over the software asset. At the commencement date, management assesses whether the Group acquires an intangible asset, leases an asset or solely receives software as a service over the term of the contract.

If the Group receives a right to use cloud hosted software managed by a software provider without further rights or control, it is neither a lease nor an intangible asset and costs are expensed as the Group receives the SaaS. However, in some circumstances the Group may obtain control, which may be the case when:

a)ISS has the contractual right to take possession of the software during the hosting period without incurring significant costs;

b)ISS has the ability to use software separately without signifi-cant diminution in utility or value; and

c)It is feasible for ISS to run the software on its own hardware or contract with a party (unrelated to the cloud provider) to do so.

Capitalisation of configuration or customisation costsIn SaaS arrangements, capitalisation requires management\u2019s assessment of the nature of the activities performed and the output. Such activities would typically entail development of additional software code that enhances, modifies or creates additional capability. If activities performed result in the creation of a resource that the Group controls, such configuration and customisation costs are capitalised.

Accounting estimates

In 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 CGU, 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.

In T\u00fcrkiye, as a result of the highly unusual macroeconomic situation, the normal Group methodology of applying a constant WACC rate in both the forecasting 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 applies a normalised WACC rate in the terminal period, while the WACC applied in the forecasting period is determined based on the normal Group methodology. Given the circumstances, it is management\u2019s view that this is more appropriate and leads to a more reasonable estimate of the value in use.

The outcome of the impairment test may vary significantly should the assumptions and estimates not be realised as expected and applied as basis for management\u2019s conclusion of whether impairment of a CGU has occurred.

Accounting estimates

Deferred tax assetsrelating 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 management and expectations for operational development, 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 positionsAs 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 applicable 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 tax payables or income tax depending on the tax position.

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.

Accounting estimates

Actuarial calculations and valuations are performed annually for all major plans. The present value of defined benefit obligations is determined based on country-specific assumptions about the future development in variables such as salary levels, interest rates, inflation, mortality and guaranteed benefits. 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.

", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__33": { "value": "

1.1 Segments

1.1.1 Operating segmentsISS is a leading, global provider of workplace and facility service solutions operating in ~30 countries. Operations and business performance are generally managed based on a geographical structure in which countries are grouped into four regions. These regions make up the Group\u2019s reportable segments.

The regions have been identified based on a key principle of grouping countries that share market conditions and cultures. Countries where we do not have a full country-based support structure (global managed services) 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.

(DKKm)

NorthernEurope

Central &SouthernEurope

Asia &Pacific

Americas

Othercountries

Total segments

Unall./IC elim

Group

2024

Revenue, excl. IAS 29

31,328

27,159

14,403

9,407

767

83,064

(59)

83,005

Revenue

31,328

27,915

14,403

9,407

767

83,820

(59)

83,761

Employee costs

(18,239)

(18,686)

(9,928)

(4,733)

(176)

(51,762)

(1,060)

(52,822)

Depreciation and amortisation

(560)

(520)

(141)

(109)

(4)

(1,334)

(135)

(1,469)

Operating profit before other

items, excl. IAS 29

1,803

1,867

1,032

547

30

5,279

(1,124)

4,155

Operating profit before other items

1,803

1,855

1,032

547

30

5,267

(1,124)

4,143

Operating margin, excl. IAS 29

5.8%

6.9%

7.2%

5.8%

3.9%

6.4%

-

5.0%

Operating margin

5.8%

6.6%

7.2%

5.8%

3.9%

6.3%

-

4.9%

Other income and expenses, net

6

(43)

(2)

(60)

-

(99)

(64)

(163)

Amortisation/impairment of customer contracts

(14)

(60)

-

(17)

-

(91)

-

(91)

Operating profit

1,795

1,752

1,030

470

30

5,077

(1,188)

3,889

2023

Revenue, excl. IAS 29

29,324

24,807

14,229

9,605

783

78,748

(65)

78,683

Revenue

29,324

24,805

14,229

9,605

783

78,746

(65)

78,681

Employee costs

(17,033)

(16,388)

(10,090)

(4,822)

(251)

(48,584)

(1,023)

(49,607)

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

Operating profit before other items

1,572

1,439

875

489

48

4,423

(1,123)

3,300

Operating margin, excl. IAS 29

5.4%

6.0%

6.1%

5.1%

6.1%

5.7%

-

4.3%

Operating margin

5.4%

5.8%

6.1%

5.1%

6.1%

5.6%

-

4.2%

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

Revenue

\u2013 by region

83.8

DKKbn

37% Northern

33% Central & Southern

17% Asia & Pacific

12% Americas

01% Other

Operating profit 1)

\u2013 by region

5.1

DKKbn

35% Northern

35% Central & Southern

20% Asia & Pacific

09% Americas

01% Other

1)Based on total segments

1.1.2 Geographical distribution

Revenue

Non-current assets 1)

(DKKm)

2024

2023

2024

2023

UK & Ireland

11,939

10,611

3,251

3,117

Switzerland

7,052

6,383

2,493

2,206

US & Canada

6,870

7,004

2,481

2,368

T\u00fcrkiye

6,622

4,833

1,929

1,525

Germany

5,713

5,864

1,479

974

Australia & New Zealand

5,279

5,102

1,312

1,343

Spain

5,136

4,460

1,719

1,576

Denmark (country of domicile)

3,224

2,994

1,745

1,730

Other countries 2)

31,926

31,430

11,977

11,754

Total

83,761

78,681

28,386

26,593

1)Excluding deferred tax assets.

2)Including unallocated items and eliminations.

For further information, revenue per country is disclosed on p. 31.

Revenue

\u2013 by country

83.8

DKKbn

14%UK & Ireland

08%Switzerland

08%US & Canada

08%T\u00fcrkiye

07%Germany

06%Australia & NZ

06%Spain

04%Denmark

39%Other

Non-current assets

\u2013 by country

28.4

DKKbn

12%UK & Ireland

09%Switzerland

09%US & Canada

07%T\u00fcrkiye

05%Germany

04%Australia & NZ

06%Spain

06%Denmark

42%Other

Accounting policy

\"\"

The Group\u2019s four reportable segments reflect the geographical and strategic management, decision and reporting structure applied by the Executive Group Management (EGM).

The segments are managed by the EGM 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 (finance income or finance costs) and 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 rendering the service. Significant countries are defined as countries representing more than 5% of Group revenue as well as the domicile country, Denmark. No customer comprises more than 10% of Group revenue.

", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__34": { "value": "

1.1 Segments

1.1.1 Operating segmentsISS is a leading, global provider of workplace and facility service solutions operating in ~30 countries. Operations and business performance are generally managed based on a geographical structure in which countries are grouped into four regions. These regions make up the Group\u2019s reportable segments.

The regions have been identified based on a key principle of grouping countries that share market conditions and cultures. Countries where we do not have a full country-based support structure (global managed services) 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.

(DKKm)

NorthernEurope

Central &SouthernEurope

Asia &Pacific

Americas

Othercountries

Total segments

Unall./IC elim

Group

2024

Revenue, excl. IAS 29

31,328

27,159

14,403

9,407

767

83,064

(59)

83,005

Revenue

31,328

27,915

14,403

9,407

767

83,820

(59)

83,761

Employee costs

(18,239)

(18,686)

(9,928)

(4,733)

(176)

(51,762)

(1,060)

(52,822)

Depreciation and amortisation

(560)

(520)

(141)

(109)

(4)

(1,334)

(135)

(1,469)

Operating profit before other

items, excl. IAS 29

1,803

1,867

1,032

547

30

5,279

(1,124)

4,155

Operating profit before other items

1,803

1,855

1,032

547

30

5,267

(1,124)

4,143

Operating margin, excl. IAS 29

5.8%

6.9%

7.2%

5.8%

3.9%

6.4%

-

5.0%

Operating margin

5.8%

6.6%

7.2%

5.8%

3.9%

6.3%

-

4.9%

Other income and expenses, net

6

(43)

(2)

(60)

-

(99)

(64)

(163)

Amortisation/impairment of customer contracts

(14)

(60)

-

(17)

-

(91)

-

(91)

Operating profit

1,795

1,752

1,030

470

30

5,077

(1,188)

3,889

2023

Revenue, excl. IAS 29

29,324

24,807

14,229

9,605

783

78,748

(65)

78,683

Revenue

29,324

24,805

14,229

9,605

783

78,746

(65)

78,681

Employee costs

(17,033)

(16,388)

(10,090)

(4,822)

(251)

(48,584)

(1,023)

(49,607)

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

Operating profit before other items

1,572

1,439

875

489

48

4,423

(1,123)

3,300

Operating margin, excl. IAS 29

5.4%

6.0%

6.1%

5.1%

6.1%

5.7%

-

4.3%

Operating margin

5.4%

5.8%

6.1%

5.1%

6.1%

5.6%

-

4.2%

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

Revenue

\u2013 by region

83.8

DKKbn

37% Northern

33% Central & Southern

17% Asia & Pacific

12% Americas

01% Other

Operating profit 1)

\u2013 by region

5.1

DKKbn

35% Northern

35% Central & Southern

20% Asia & Pacific

09% Americas

01% Other

1)Based on total segments

1.1.2 Geographical distribution

Revenue

Non-current assets 1)

(DKKm)

2024

2023

2024

2023

UK & Ireland

11,939

10,611

3,251

3,117

Switzerland

7,052

6,383

2,493

2,206

US & Canada

6,870

7,004

2,481

2,368

T\u00fcrkiye

6,622

4,833

1,929

1,525

Germany

5,713

5,864

1,479

974

Australia & New Zealand

5,279

5,102

1,312

1,343

Spain

5,136

4,460

1,719

1,576

Denmark (country of domicile)

3,224

2,994

1,745

1,730

Other countries 2)

31,926

31,430

11,977

11,754

Total

83,761

78,681

28,386

26,593

1)Excluding deferred tax assets.

2)Including unallocated items and eliminations.

For further information, revenue per country is disclosed on p. 31.

Revenue

\u2013 by country

83.8

DKKbn

14%UK & Ireland

08%Switzerland

08%US & Canada

08%T\u00fcrkiye

07%Germany

06%Australia & NZ

06%Spain

04%Denmark

39%Other

Non-current assets

\u2013 by country

28.4

DKKbn

12%UK & Ireland

09%Switzerland

09%US & Canada

07%T\u00fcrkiye

05%Germany

04%Australia & NZ

06%Spain

06%Denmark

42%Other

Accounting policy

\"\"

The Group\u2019s four reportable segments reflect the geographical and strategic management, decision and reporting structure applied by the Executive Group Management (EGM).

The segments are managed by the EGM 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 (finance income or finance costs) and 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 rendering the service. Significant countries are defined as countries representing more than 5% of Group revenue as well as the domicile country, Denmark. No customer comprises more than 10% of Group revenue.

", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__31": { "value": "

Accounting policy

\"\"

The Group\u2019s four reportable segments reflect the geographical and strategic management, decision and reporting structure applied by the Executive Group Management (EGM).

The segments are managed by the EGM 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 (finance income or finance costs) and 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 rendering the service. Significant countries are defined as countries representing more than 5% of Group revenue as well as the domicile country, Denmark. No customer comprises more than 10% of Group revenue.

Accounting policy

\"\"

Transaction priceOur customer contracts are based on three commercial models:

1) Fixed price contracts;

2) Cost-plus contracts; and

3) Cost-plus variations (typically capped)

All three models include mechanisms to adjust the transaction price for a) inflation and regulatory changes and b) scope changes (contract modifications).

Inflation and regulatory adjustments are typically implemented annually based on the actual development in salaries/minimum wages or cost of consumables (e.g. food) based on changes to a price index.

Scope changes regularly occur, particularly for key account customers, to ensure that service solutions reflect our customers\u2019 current needs. Such modifications are generally agreed with the customer in advance as per a specified change management procedure in the contract.

In addition to these general adjustment mechanisms applicable for all commercial models, the differences between models in determining the transaction price are highlighted below.

For fixed price contractsthe transaction price stated in the contract is based on a fixed amount for the agreed services.

For cost-plus contractsthe transaction price is determined based on actual costs incurred with the addition of an agreed markup/management fee. In addition, the transaction price may include a variable consideration element determined based on achievement of certain defined key performance indicators (KPIs). Variable consideration is assessed on a contract-by-contract basis on a recurring basis in alignment with the customer, and is measured based on the most likely amount management expects ISS to be entitled to.

For cost-plus variations, determining the transaction price is similar to the cost-plus (including variable consideration), however typically with a cap, i.e. if ISS\u2019s actual costs exceed a guaranteed maximum price (GMP), the consideration is reduced to the GMP. Determining the transaction price requires assessment of which costs may be included in the calculation basis and if relevant, whether within the capped maximum.

RecognitionRevenue from contracts with customers is recognised 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.

Revenue is recognised based on the actual services provided in the reporting period as a proportion of the total services to be provided. This is determined based on the actual labour hours and costs expensed relative to the total expected labour hours and costs to complete the service. Estimates of labour hours and costs or extent of progress toward completion are revised if circumstances change. Any resulting increases or decreases in estimated revenues or costs are reflected in profit or loss in the period in which the circumstances that give rise to the revision become known by management.

Contract modifications are accounted for going forward with no impact on recognised revenue up to the date of modification.

Variable consideration is recognised as services are performed to the extent that it is highly probable that the amount will not be subject to significant reversal.

Customers are invoiced on a monthly basis in accordance with contractual terms, and payment terms are agreed on an individual basis.

Gross or net presentationOur strategy and business model are based on delivery of integrated facility services (IFS) to our customers with ISS carrying the responsibility and risks related to the services provided. The Group has generally concluded that it is the principal in its revenue arrangements, and consequently as a main rule recognises revenue on a gross basis.

In arrangements where ISS uses subcontractors, the Group assesses on a contract-by-contract basis, whether ISS is the principal or ISS is acting as the agent. The assessment is based on whether ISS controls the services before transferring them to the customer.

Typically, when the Group has concluded that ISS controls the services and is the principal, ISS:

1) engages with the customer before and after the services are provided, and takes the responsibility for fulfilment of services according to the contract;

2) has discretion in establishing the price for the agreed services;

3) selects and engages with the subcontractor; and

4) agrees changes to services directly with the customer.

Accounting policy

\"\"

Other income and expenses, net consists of recurring and non-recurring items that management does not consider to be part of the Group\u2019s ordinary operating activities, i.e. divestment gains and losses, remeasurement of disposal groups classified as held for sale, the winding-up of operations, disposal of property as well as acquisition and integration costs.

Other income and expenses, net are presented separately from the Group\u2019s ordinary operating activities as management believes that this best reflects the Group\u2019s financial performance.

Accounting policy

\"\"

Tradereceivablescomprise invoiced and unbilled revenue. Unbilled revenue represents service deliveries where the performance obligation has been fulfilled, but not yet invoiced. Trade receivables are recognised at the invoiced amount less expected credit losses, which equals amortised costs due to their short-term nature.

The Group applies the simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables.

The expected loss rates are calculated based on days past due for grouping of customers with similar loss patterns, e.g. geographical region, industry sector and customer rating. The historical loss rates are adjusted to reflect current and forecasts of future economic conditions on macroeconomic factors affecting the ability of the customers to settle the receivables.

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 or reversal of expected credit losses are credited against the same line item.

Factoringand participation in customers\u2019 supply chain finance arrangements (together referred to as 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 mobilisation of such contracts. Trade receivables subject to factoring are derecognised when the derecognition criteria are met and the substantial risks and rewards are transferred to the factor. Once the trade receivables are derecognised, the Group does not carry any risk and has no continuing involvement in these.

Accounting policy

\"\"

Other receivables comprise various items of different nature and thus different measurement methods are applied. As these items are considered 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 feesand transition and mobilisation costsare capitalised and amortised over the initial secured contract term consistent with ISS\u2019s transfer of the related services to the customer.

Securitiesand derivativesare measured at fair value with fair value adjustments being recognised in profit or loss. The fair value of derivatives is presented in Other receivables when the fair value is positive and in Other liabilities when the fair value is negative.

Accounting policy

Provisions

Provisions are recognised at the estimated costs when the Group, as a result of a past event, has a present legal or constructive obligation, it is probable that an outflow of economic benefits will be required to settle the obligation and the amount can be reliably estimated. Provisions are not recognised for future operating losses. The estimated amount is discounted using the Group\u2019s average borrowing rate, if this significantly 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-insuranceon 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 affected, and include a detailed estimate of costs as well as a timeline.

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.

Customer and contract-related disputes(presented in \u201cOther\u201d 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 obligation exists, and it is probable that this will lead to an outflow of economic resources from the Group.

Decommissioning liability(presented in \u201cOther\u201d provisions) if the Group has a legal obligation to dismantle or remove an asset or restore a site or leased facilities (right-of-use assets) when vacated. The present value of the obligation is included in the cost of the relevant asset and depreciated accordingly. The estimated future costs and applied discount rate are reviewed annually and any changes are included in the cost of the asset.

Contingencies and commitments

Contingent liabilitiesare possible obligations whose existence will be confirmed by the occurrence or non-occurrence of future events. An obligation may also be contingent if the amount cannot be estimated reliably or settlement is not probable.

Contingent assetsare possible assets whose existence will be confirmed by the occurrence or non-occurrence of uncertain future events that are not wholly within the control of the entity.

Commitmentsare the Group\u2019s promise resulting from a contractual agreement to assume a future obligation for a future delivery.

Contingent assets, liabilities and commitments do not represent a present legal or constructive obligation. Thus, they are not recognised, but disclosed in the notes.

Accounting policy

Right-of-use assetsare recognised at the commencement 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. Estimated costs related to such liability are recognised as part of the cost of the 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.

Average lease term applied

Properties:

HQ office leases

10-12 years

Customer-specific leases (contract term)3-5 years

Vehicles

3-5 years

Other equipment

2-5 years

Depreciation methods, lease terms (including extension options) and residual values are reassessed at the reporting date.

The recognition exemption is applied for short-term leases (term of 12 months or less) and leases of low-value assets (e.g. minor cleaning and IT equipment and office furniture). Related lease payments are recognised in Other operating expenses on a straight-line basis over the lease term.

Property and equipmentis measured at cost, less accumulated depreciation and impairment losses.

Property and equipment is depreciated on a straight-line basis over the estimated useful lives of the assets.

Estimated useful life

Equipment

3-10 years

Leasehold improvements (lease term)

3-10 years

Buildings

20-40 years

Land

Not depreciated

Depreciation methods, useful lives and residual values are reassessed at the reporting date.

Gains and losses arising on the disposal or retirement of property 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 policy

Goodwilland brands (the ISS brand) with indefinite useful lives are not amortised but recognised at cost less accumulated impairment losses.

Acquisition-related customer contractsare recognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.

Softwareis measured at cost less accumulated amortisation and impairment losses. The cost of software developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other development 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 life

Customer contracts

10-24 years

Software

3-10 years

Amortisation methods and useful lives are reassessed at the reporting date.

Software as a Service (SaaS) arrangementsare service contracts providing the Group with the right to use cloud hosted software managed by the software provider over the contract term.

Generally, costs related to SaaS are expensed as incurred in Operating expenses, including cloud-hosting fees, software licenses, internal costs to select a cloud provider as well as data conversion, training and testing costs.

Certain costs related to configuration and customisation activities may be capitalised as an intangible asset if they meet the recognition criteria, see Accounting judgements. Such assets are amortised over their useful lives when ready for use.

Accounting policy

\"\"

The Group performs impairment test of goodwill and the ISS brand at the reporting date or when indications of impairment exist. Other non-current 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. Corporate costs for 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.

Impairment of goodwill is recognised in profit or loss in a separate line if the carrying amount of the CGU exceeds its estimated recoverable amount.

The carrying amount of goodwill is tested for impairment together with other non-current assets in the CGU to which goodwill is allocated.

Impairment of goodwill is not reversed. Impairment 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 determined, net of depreciation and amortisation, if no impairment loss had been recognised.

Management believes that the value of the ISS brandsupports 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 policy

\"\"

Business combinations (acquisitions)are accounted for using the acquisition method. The consideration transferred is measured at acquisition date fair value of net assets and any contingent consideration as well as the amount of any non-controlling interests in the acquiree. For each acquisition, 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 is classified as financial liabilities and presented in Other liabilities with changes in fair value recognised in Other income and expenses, net.

Depending on the size, complexity, and timing of the acquisition, uncertainties regarding identification or measurement of assets, liabilities and contingent liabilities may arise, and the 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 fair value of the net identifiable assets acquired. Subsequently, 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. Goodwill is not deductible for tax purposes.

Pro forma revenue and operating profit before other itemsinclude adjustments assuming that acquisitions/divestments were in-/excluded in/from profit or loss from 1 January. Estimates are made by local ISS management at the time of acquisition/divestment or actual results where available, and are based on unaudited financial information.

Accounting policy

\"\"

A disposal group is presented as discontinued operationsif it is a geographical area, i.e. a CGU (country), that either has been disposed of, or is classified as held for sale.

The classification as discontinued operations is assessed based on several factors; quantitative and qualitative. Overall, it is assessed whether the disposal group represents a component of an entity (i.e. a CGU), which in ISS is defined as a country. Further, it is assessed whether the classification is significant for understanding the financial performance of the Group\u2019s continuing operations. For a single country, the assessment of significant is made separately for that country. However, in case of a coordinated strategic plan to dispose of several businesses (CGUs), the assessment of significant is made for these countries as a whole.

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 included in cash flow from operating, investing and financing activities together with cash flows from continuing operations, but separately specified in 3.4, Discontinued operations and divestments.

DivestmentsGain or loss on disposal of an operation 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 components of equity, while any resultant gain or loss is recognised in Other income and expenses, net.

Accounting policy

\"\"

Retained earningsis the Group\u2019s free reserves, which includes proposed dividends and share premium. Proposed dividends are recognised as a liability at the date when they are adopted at the annual general meeting. Share premium comprises amounts above the nominal share capital paid by shareholders when shares are issued by ISS A/S.

Treasury sharesThe cost of acquisition and proceeds from sale of treasury shares are recognised in reserve for treasury shares. Dividends received in relation to treasury shares are recognised in retained earnings.

Translation reservecomprises foreign exchange differences arising from the translation of financial statements of foreign entities with a functional currency other than DKK and from the translation of non-current balances which are considered part of the investment in foreign entities. Furthermore, fair value adjustments of net investment hedges and hyperinflation restatement are included. 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. exchange adjustments are transferred to profit or loss in the same line item as the gain or loss.

Accounting policy

\"\"

Issued bondsand bank loansare 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 Finance costs over the term of the loan using the effective interest method.

Lease liabilitiesare initially recognised at the present value of the 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 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 policy

\"\"

The Group\u2019s interest rate swaps qualifies as a fair value hedge as the risk being hedged is the possible change in the fair value of a recognised liability. 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 Finance income or Finance costs. The change in the fair value of the hedged item (the bond) attributable to the risk being hedged is recognised as part of the carrying amount of the hedged item and is also recognised in profit or loss under Finance income or Finance costs. The gain or loss relating to the ineffective portion is recognised in profit or loss under Finance income or Finance costs.

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 techniques 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 policy

\"\"

Deferred 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 carry forwards, 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 exception for recognition and disclosure of deferred tax assets and liabilities arising from Pillar Two Income taxes.

Accounting policy

\"\"

The 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)), see Vesting criteria in 6.2.1. Fair value assumptions are disclosed in the tables in 6.2.1 and 6.2.2.

On initial recognition, an estimate is made of the number of PSUs and RSUs expected to vest. The estimated number is revised for changes in the number of PSUs and RSUs expected to vest due to non-market based vesting conditions.

Accounting policy

\"\"

Defined contribution plansThe Group\u2019s contributions are recognised in Employee costs when the related service is provided.

Defined benefit plansThe 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 employees 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. If the calculation results in a net asset, the asset is recognised if it offsets refunds from or leads to reduced future contributions to the plan. Consideration is given to applicable minimum funding requirements.

Pension costs are calculated based on actuarial estimates and financial expectations at the beginning of the year. Service costs are recognised in Employee costs and net interest is recognised in Finance costs. Remeasurements (actuarial gains/losses), comprising the differences between the expected development 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 settlements are recognised when incurred.

The aggregated value of unfunded plans is presented as a net liability and the aggregated value of funded plans are presented as a net asset.

Multiemployer plansThe Group does not have the necessary information to account for the schemes as defined benefit plans, and they are therefore accounted for as defined contribution plans.

Other long-term employee benefitsare calculated as defined pension plans, except that actuarial gains and losses are recognised in Employee costs. Other long-term employee benefits comprise jubilee benefits, long-service or sabbatical leave, etc.

Accounting policy

\"\"

Inflation restatement

The financial statements of ISS T\u00fcrkiye based on historical costs are restated for inflation to reflect the purchasing power at the reporting date using the consumer price index.

Non-monetary itemssuch as goodwill, customer contracts, right-of- use assets, property and equipment and deferred tax, are restated for the effect of inflation based on changes in the price index for the period from initial recognition to 31 December 2024 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. The restatement effect related to prior years is recognised in Other comprehensive income and current year effect is recognised in Finance income and costs.

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 itemssuch as receivables, payables and borrowings are not restated as these items already reflect the purchasing power at the reporting date.

Equityincludes the opening effect of restating non-monetary items. The restatement effects based on in-year changes in the price index are recognised in other comprehensive income with set-off within finance income or costs in profit or loss.

Profit or losstransactions are restated to reflect changes in the price index from the time of transaction to the end of the reporting period except for depreciation and amortisation, which are recalculated based on the inflation-adjusted carrying amounts. The restating gain or loss is recognised in finance income or costs, except for the tax effect, which is recognised in income tax.

Cash flow statementOperating profit before other items includes a non-cash effect from the inflation restatement, and is eliminated in the line Non-cash items related to hyperinflation.

Price index

Restatement for hyperinflation of the financial statements 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 2024, the inflation rate in T\u00fcrkiye was 44.38% (2023: 64.77%). In 2024, the conversion factor was 17% (2023: 31%).

Retranslation from TRY to DKK

The financial statements of ISS T\u00fcrkiye, including effects of inflation restatement, are translated into DKK applying 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 transaction date or an average exchange rate for the month.

The TRY/DKK exchange rate decreased from 22.82 at the beginning of 2024 to 20.30 at 31 December 2024. The average rate was 20.97 (2023: 29.80).

8.1 Other material accounting policies

ISS A/S is listed on Nasdaq Copenhagen. The consolidated finan-cial statements of ISS A/S for the year ended 31 December 2024 comprise ISS A/S and its subsidiaries (collectively, the Group). Significant subsidiaries are listed in 8.4, Group companies.

The 2024 Annual Report for ISS A/S was discussed and ap-proved by the Executive Group Management Board and the Board of Directors on 20 February 2025 and issued for approv-al at the subsequent annual general meeting on 11 April 2025.

Basis of preparationThe 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 disclosureItems are measured at historical cost, except for plan assets un-der defined benefit plans, derivatives and contingent consider-ation 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 as-sessed that the fair values of cash and cash equivalents, trade receivables, 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 borrowings, including methods and assumptions used to estimate the fair value, are disclosed in 4.2.1, Borrowings.

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, either individually or combined. The deciding factor is whether the omission or misstatement could, individually or col-lectively, influence the economic decisions made by the primary users on the basis of the consolidated financial statements.

Basis of consolidationThe consolidated financial statements comprise ISS A/S and entities controlled by ISS A/S. Consolidation is performed after elimination of intra-group balances, income and expenses. Unre-alised 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 benefits from their non-controlling inter-est 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.

Foreign currencyTransactions in currencies other than the functional currency of the respective Group companies are considered transactions denominated in foreign currencies.

On initial recognition, foreign currency transactions are translated to the functional currencies of the Group compa-nies 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 Finance income or Finance costs.

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 Finance income or Finance costs.

On recognition in the consolidated financial statements of Group companies with a functional currency other than DKK, except for companies operating in hyperinflationary environ-ments, 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 investment in the entity and on translation of the profit 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 In-year changes

Changes in accounting policiesFrom 1 January 2024, the Group has adopted certain new and amended standards with no significant impact on recognition and measurement.

The Group is within the scope of the Pillar Two rules applying from 1 January 2024. For a description of Pillar Two, see 5.1, Income tax.

8.3 New regulations

IASB issued certain amended standards and interpretations, that are not mandatory for the consolidated financial state-ments of the Group at 31 December 2024. 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 interpretations are expected to have a material impact on the recognition and measurement in the consolidated financial statements.

The standard below will impact presentation and the definition of certain required subtotals.

IFRS 18: Presentation and Disclosure in Financial statementsFrom 1 January 2027, IFRS 18 will replace IAS 1, introducing new requirements that will help to achieve comparability of financial performance of similar entities and provide more relevant information and transparency to users.

Even though IFRS 18 will not impact the recognition and measurement of items, its impact on presentation (including definition of certain required subtotals) and disclosures is expected to be pervasive, in particular those related to the statement of profit or loss and providing management-defined performance measures within the financial statements. The key new concepts introduced in IFRS 18 relate to:

the structure of the statement of profit or loss;

required disclosures in the financial statements for certain profit or loss performance measures that are reported out-side an entity\u2019s financial statements (that is, management-de-fined performance measures); and

enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes in general

ISS has not yet analysed the impact of the new standard, but will do so in due course.

8.5 Definitions

ISS 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 performance measures (APMs) to provide stakeholders with additional measures to evaluate and analyse the Group\u2019s 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 companies\u2019 measures.

Alternative performance measures

EBITDA

Operating profit + Depreciation and amortisation + Amortisation/impairment of customer contracts

EBITDA before other items

Operating profit before other items + Depreciation and amortisation

Pro forma adjusted EBITDA

EBITDA before other items, excluding hyperinflation (IAS 29) + EBITDA before other items in discontinued operations, and adjusted as if all acquisitions and divestments had occurred on 1 January of the respective year

Net profit (adjusted)

Net profit excluding Other income and expenses, net, Goodwill impairment, Amortisation/impairment of customer contracts, impact from hyperinflation (IAS 29) and Net profit from discontinued operations (comparatives are not restated)

Free cash flow

Cash flow from operating activities \u2013 Acq. of intangible assets, property and equipment, net \u2013 Change in financial assets (excl. equity-accounted investees) \u2013 Addition of right-of-use assets, net

Financial leverage

Net debt

Pro forma adjusted EBITDA

Organic growth, %

(Revenue current year excl. hyperinflation \u2013 Comparable revenue1)prior year) x 100

Comparable revenue1)prior year

Acquisitions 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

Revenue

Total revenue growth, %

(Revenue current year \u2013 Revenue prior year) x 100

Revenue prior year

Financial ratios

Acquisitions, %

Revenue from acquisitions2)x 100 Revenue prior year

Cash conversion, %

Free cash flow x 100 Operating profit before other items

Currency adjustments

Total revenue growth \u2013 Organic growth \u2013 Acquisition/divestment growth, net3)

Divestments, %

Revenue from divestments4)\u00d7 100 Revenue prior year

Equity ratio, %

Total equity \u00d7 100 Total assets

Gross debt

Borrowings + utilisation of factoring and certain customer\u2019s supply chain finance arrangements

Net debt

Borrowings \u2013 Securities \u2013 Cash and cash equivalents +/\u2013 Fair value of derivatives + Net debt included in Liabilities held for sale

Share 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 average treasury shares, for the year

Average number of shares (diluted)

Average number of shares (basic) + Average number of outstand-ing PSUs and RSUs expected to vest in the year

Other ratios

Customer retention, %

Portfolio revenue (annual value) retained at 31 December of the portfolio at 1 January

Portfolio revenue (annual value) at 1 January

Gender diversity, Board, %

Female board members (AGM5)) elected) \u00d7 100

Board members (AGM5)) 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 members

1)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)Estimated or actual revenue where available at the divestment date.

4)Incl. the effect from exclusion of currency effects from the calculation of organic growth and acq./div., net.

5)AGM: Annual general meeting.

", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__35": { "value": "

Accounting policy

\"\"

The Group\u2019s four reportable segments reflect the geographical and strategic management, decision and reporting structure applied by the Executive Group Management (EGM).

The segments are managed by the EGM 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 (finance income or finance costs) and 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 rendering the service. Significant countries are defined as countries representing more than 5% of Group revenue as well as the domicile country, Denmark. No customer comprises more than 10% of Group revenue.

", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__36": { "value": "

1.2 Revenue

The Group\u2019s revenue is generated from rendering of workplace and facility service solutions to more than 40,000 customers. Our services are provided on a daily basis at our customers sites, largely by our own employees (placemakers) given our self-delivery business model. Subcontractors are only used to a limited extent and primarily for delivery of highly specialised services (e.g. within technical) and/or infrequently delivered services.

The vast majority of our revenue is portfolio revenue 84% (2023: 84%), which means that revenue is contractually agreed (committed) with the customer at contract inception. With initial contract terms typically of 3-5 years, this revenue base offers a relatively high stability and predictability. The remaining part of our revenue is non-recurring (not committed) in the form of projects and above-base work (e.g. capital projects, events, etc.), which is demanded on a non-recurring basis and agreed separately with the customer.

Start-up of new key account contracts often requires ISS to in-cur significant transition and mobilisation costs (costs to fulfil a contract) before service delivery commences in order to be able to fulfil the performance obligations under the contracts.

Capitalised transition and mobilisation costs are presented in 2.2, Other receivables.

1.2.1 Commercial modelsOur contracts are individually negotiated with each customer based on their specific needs. Despite individuality in contracts, we do however generally operate based on variations of the following three commercial models:

1) Fixed price contracts;

2) Cost-plus contracts; and

3) Cost-plus variations (typically capped)

Determining the transaction price varies depending on the model as described in Accounting policies. However, they all include mechanisms to adjust prices due to a) inflation and regulatory changes and b) scope changes. These contractual mechanisms, along with strong and well-embedded processes for implementing such adjustments, are essential in mitigating the risk of contracts becoming onerous due to e.g. changing customer needs, macroeconomic or regulatory events etc.

1.2.2 DisaggregationAligned with our strategy, we disaggregate revenue from con-tracts with customers based on:

Revenue base (portfolio vs. projects and above-base)

Customer category

Customer segment

Core services

The distribution of revenue among our portfolio and above-base, customer category, customer segment and services within the re-gions is largely the same as the overall distribution for the Group. However, in Americas, the share of food services is relatively higher and healthcare significantly lower than compared to the rest of the Group.

The overview on the next page illustrates the relationship be-tween disaggregation of revenue and revenue per reportable segments.

Accounting estimates & judgements

\"\"
\"\"
\"\"
\"\"
\"\"

Due to our strategic focus on key accounts, our customer base contains a number of large and complex IFS contracts in terms of determining the transaction price, including the impact of scope changes (contract modifications).

Management makes detailed assessments of the contractual terms and on that basis estimates the amount of revenue expected to be received based on services delivered, including an assessment of the probability of such amount being reversed subsequently.

For large and global complex contracts, the outcome may vary significantly, should the judgements and assumptions applied by management in their assessments not be realised as expected.

Portfolio and above-base

83.8

DKKbn

84%Portfolio

16%Projects and above-base

Customer category

83.8

DKKbn

71%Key accounts

24%Large and medium

05%Small and route-based

Customer segments

83.8

DKKbn

40%Office-based

23%Production-based

14%Healthcare

23%Other

Core services

83.8

DKKbn

42%Cleaning

23%Technical

15%Food

20%Other

Disaggregation of revenue

2024

(DKKm)

NorthernEurope

%

Central &

Southern

Europe

%

Asia &Pacific

%

Ameri-cas

%

Othercoun-tries

Unall./

IC elim.

Total

%

Revenue base

Portfolio

25,189

80%

23,574

84%

12,998

90%

7,795

83%

513

(43)

70,026

84%

Projects and above-base work

6,139

20%

4,341

16%

1,405

10%

1,612

17%

254

(16)

13,735

16%

Total

31,328

100%

27,915

100%

14,403

100%

9,407

100%

767

(59)

83,761

100%

Customer category

Key accounts

22,694

73%

18,134

65%

10,299

72%

7,433

79%

759

(57)

59,262

71%

Large and medium

6,688

21%

8,425

30%

3,235

22%

1,958

21%

-

-

20,306

24%

Small and route-based

1,946

6%

1,356

5%

869

6%

16

0%

8

(2)

4,193

5%

Total

31,328

100%

27,915

100%

14,403

100%

9,407

100%

767

(59)

83,761

100%

Customer segments

Office-based

13,436

43%

11,096

40%

4,465

31%

3,951

42%

378

(53)

33,273

40%

Production-based

6,209

20%

6,057

22%

3,245

22%

3,397

36%

354

(6)

19,256

23%

Healthcare

4,693

15%

4,291

15%

3,112

22%

103

1%

-

-

12,199

14%

Other

6,990

22%

6,471

23%

3,581

25%

1,956

21%

35

-

19,033

23%

Total

31,328

100%

27,915

100%

14,403

100%

9,407

100%

767

(59)

83,761

100%

Core services

Cleaning

13,090

42%

12,697

45%

6,808

47%

2,253

24%

102

(23)

34,927

42%

Technical

7,408

24%

8,241

30%

1,157

8%

2,487

26%

140

(20)

19,413

23%

Food

5,720

18%

2,554

9%

1,234

9%

3,436

37%

57

(7)

12,994

15%

Other

5,110

16%

4,423

16%

5,204

36%

1,231

13%

468

(9)

16,427

20%

Total

31,328

100%

27,915

100%

14,403

100%

9,407

100%

767

(59)

83,761

100%

2023

(DKKm)

NorthernEurope

%

Central &

Southern

Europe

%

Asia &Pacific

%

Ameri-cas

%

Othercoun-tries

Unall./

IC elim.

Total

%

Revenue base

Portfolio

23,731

81%

20,426

82%

12,585

88%

8,484

88%

525

(41)

65,710

84%

Projects and above-base work

5,593

19%

4,379

18%

1,644

12%

1,121

12%

258

(24)

12,971

16%

Total

29,324

100%

24,805

100%

14,229

100%

9,605

100%

783

(65)

78,681

100%

Customer categroy

Key accounts

20,690

70%

16,995

68%

10,182

72%

7,660

80%

772

(46)

56,253

71%

Large and medium

6,631

23%

6,918

28%

3,187

22%

1,926

20%

-

(17)

18,645

24%

Small and route-based

2,003

7%

892

4%

860

6%

19

0%

11

(2)

3,783

5%

Total

29,324

100%

24,805

100%

14,229

100%

9,605

100%

783

(65)

78,681

100%

Customer segments

Office-based

12,052

41%

9,991

40%

4,424

31%

3,822

40%

442

(62)

30,669

39%

Production-based

5,957

20%

5,742

23%

3,349

23%

3,578

37%

283

(3)

18,906

24%

Healthcare

4,496

16%

3,290

13%

3,074

22%

91

1%

-

-

10,951

14%

Other

6,819

23%

5,782

24%

3,382

24%

2,114

22%

58

-

18,155

23%

Total

29,324

100%

24,805

100%

14,229

100%

9,605

100%

783

(65)

78,681

100%

Core services

Cleaning

12,535

43%

10,930

44%

7,277

51%

2,285

24%

186

(48)

33,165

42%

Technical

6,735

23%

7,861

32%

1,229

9%

2,310

24%

152

(2)

18,285

23%

Food

5,250

18%

2,007

8%

1,165

8%

3,532

37%

51

(14)

11,991

15%

Workplace, incl. Other

4,804

16%

4,007

16%

4,558

32%

1,478

15%

394

(1)

15,240

20%

Total

29,324

100%

24,805

100%

14,229

100%

9,605

100%

783

(65)

78,681

100%

Accounting policy

\"\"

Transaction priceOur customer contracts are based on three commercial models:

1) Fixed price contracts;

2) Cost-plus contracts; and

3) Cost-plus variations (typically capped)

All three models include mechanisms to adjust the transaction price for a) inflation and regulatory changes and b) scope changes (contract modifications).

Inflation and regulatory adjustments are typically implemented annually based on the actual development in salaries/minimum wages or cost of consumables (e.g. food) based on changes to a price index.

Scope changes regularly occur, particularly for key account customers, to ensure that service solutions reflect our customers\u2019 current needs. Such modifications are generally agreed with the customer in advance as per a specified change management procedure in the contract.

In addition to these general adjustment mechanisms applicable for all commercial models, the differences between models in determining the transaction price are highlighted below.

For fixed price contractsthe transaction price stated in the contract is based on a fixed amount for the agreed services.

For cost-plus contractsthe transaction price is determined based on actual costs incurred with the addition of an agreed markup/management fee. In addition, the transaction price may include a variable consideration element determined based on achievement of certain defined key performance indicators (KPIs). Variable consideration is assessed on a contract-by-contract basis on a recurring basis in alignment with the customer, and is measured based on the most likely amount management expects ISS to be entitled to.

For cost-plus variations, determining the transaction price is similar to the cost-plus (including variable consideration), however typically with a cap, i.e. if ISS\u2019s actual costs exceed a guaranteed maximum price (GMP), the consideration is reduced to the GMP. Determining the transaction price requires assessment of which costs may be included in the calculation basis and if relevant, whether within the capped maximum.

RecognitionRevenue from contracts with customers is recognised 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.

Revenue is recognised based on the actual services provided in the reporting period as a proportion of the total services to be provided. This is determined based on the actual labour hours and costs expensed relative to the total expected labour hours and costs to complete the service. Estimates of labour hours and costs or extent of progress toward completion are revised if circumstances change. Any resulting increases or decreases in estimated revenues or costs are reflected in profit or loss in the period in which the circumstances that give rise to the revision become known by management.

Contract modifications are accounted for going forward with no impact on recognised revenue up to the date of modification.

Variable consideration is recognised as services are performed to the extent that it is highly probable that the amount will not be subject to significant reversal.

Customers are invoiced on a monthly basis in accordance with contractual terms, and payment terms are agreed on an individual basis.

Gross or net presentationOur strategy and business model are based on delivery of integrated facility services (IFS) to our customers with ISS carrying the responsibility and risks related to the services provided. The Group has generally concluded that it is the principal in its revenue arrangements, and consequently as a main rule recognises revenue on a gross basis.

In arrangements where ISS uses subcontractors, the Group assesses on a contract-by-contract basis, whether ISS is the principal or ISS is acting as the agent. The assessment is based on whether ISS controls the services before transferring them to the customer.

Typically, when the Group has concluded that ISS controls the services and is the principal, ISS:

1) engages with the customer before and after the services are provided, and takes the responsibility for fulfilment of services according to the contract;

2) has discretion in establishing the price for the agreed services;

3) selects and engages with the subcontractor; and

4) agrees changes to services directly with the customer.

1.2.3 Revenue backlogOur revenue base consists of a mix of yearly contracts, which are renewed tacitly, and thousands of multi-year contracts, the majority of which have an initial term of 3-5 years. Contracts regularly include options for the customer to terminate for convenience within 3-9 months. However, both for key accounts and others, we maintain a high retention rate of 93%, support-ing that these options are rarely exercised.

The vast majority of our revenue is portfolio revenue, see 1.2, Revenue. The remaining part is non-recurring in the form of projects and above-base work (not committed) 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 sig-nificantly lower than reported revenue and will likely not reflect the degree of certainty in future revenue (and cash inflows) to the Group. Therefore, 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)

2024

2023

< 1 year

23,510

35%

20,793

33%

1-5 years

36,182

54%

35,356

56%

> 5 years

7,553

11%

7,463

11%

Total

67,245

100%

63,612

100%

", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__37": { "value": "

1.2 Revenue

The Group\u2019s revenue is generated from rendering of workplace and facility service solutions to more than 40,000 customers. Our services are provided on a daily basis at our customers sites, largely by our own employees (placemakers) given our self-delivery business model. Subcontractors are only used to a limited extent and primarily for delivery of highly specialised services (e.g. within technical) and/or infrequently delivered services.

The vast majority of our revenue is portfolio revenue 84% (2023: 84%), which means that revenue is contractually agreed (committed) with the customer at contract inception. With initial contract terms typically of 3-5 years, this revenue base offers a relatively high stability and predictability. The remaining part of our revenue is non-recurring (not committed) in the form of projects and above-base work (e.g. capital projects, events, etc.), which is demanded on a non-recurring basis and agreed separately with the customer.

Start-up of new key account contracts often requires ISS to in-cur significant transition and mobilisation costs (costs to fulfil a contract) before service delivery commences in order to be able to fulfil the performance obligations under the contracts.

Capitalised transition and mobilisation costs are presented in 2.2, Other receivables.

1.2.1 Commercial modelsOur contracts are individually negotiated with each customer based on their specific needs. Despite individuality in contracts, we do however generally operate based on variations of the following three commercial models:

1) Fixed price contracts;

2) Cost-plus contracts; and

3) Cost-plus variations (typically capped)

Determining the transaction price varies depending on the model as described in Accounting policies. However, they all include mechanisms to adjust prices due to a) inflation and regulatory changes and b) scope changes. These contractual mechanisms, along with strong and well-embedded processes for implementing such adjustments, are essential in mitigating the risk of contracts becoming onerous due to e.g. changing customer needs, macroeconomic or regulatory events etc.

1.2.2 DisaggregationAligned with our strategy, we disaggregate revenue from con-tracts with customers based on:

Revenue base (portfolio vs. projects and above-base)

Customer category

Customer segment

Core services

The distribution of revenue among our portfolio and above-base, customer category, customer segment and services within the re-gions is largely the same as the overall distribution for the Group. However, in Americas, the share of food services is relatively higher and healthcare significantly lower than compared to the rest of the Group.

The overview on the next page illustrates the relationship be-tween disaggregation of revenue and revenue per reportable segments.

Accounting estimates & judgements

\"\"
\"\"
\"\"
\"\"
\"\"

Due to our strategic focus on key accounts, our customer base contains a number of large and complex IFS contracts in terms of determining the transaction price, including the impact of scope changes (contract modifications).

Management makes detailed assessments of the contractual terms and on that basis estimates the amount of revenue expected to be received based on services delivered, including an assessment of the probability of such amount being reversed subsequently.

For large and global complex contracts, the outcome may vary significantly, should the judgements and assumptions applied by management in their assessments not be realised as expected.

Portfolio and above-base

83.8

DKKbn

84%Portfolio

16%Projects and above-base

Customer category

83.8

DKKbn

71%Key accounts

24%Large and medium

05%Small and route-based

Customer segments

83.8

DKKbn

40%Office-based

23%Production-based

14%Healthcare

23%Other

Core services

83.8

DKKbn

42%Cleaning

23%Technical

15%Food

20%Other

Disaggregation of revenue

2024

(DKKm)

NorthernEurope

%

Central &

Southern

Europe

%

Asia &Pacific

%

Ameri-cas

%

Othercoun-tries

Unall./

IC elim.

Total

%

Revenue base

Portfolio

25,189

80%

23,574

84%

12,998

90%

7,795

83%

513

(43)

70,026

84%

Projects and above-base work

6,139

20%

4,341

16%

1,405

10%

1,612

17%

254

(16)

13,735

16%

Total

31,328

100%

27,915

100%

14,403

100%

9,407

100%

767

(59)

83,761

100%

Customer category

Key accounts

22,694

73%

18,134

65%

10,299

72%

7,433

79%

759

(57)

59,262

71%

Large and medium

6,688

21%

8,425

30%

3,235

22%

1,958

21%

-

-

20,306

24%

Small and route-based

1,946

6%

1,356

5%

869

6%

16

0%

8

(2)

4,193

5%

Total

31,328

100%

27,915

100%

14,403

100%

9,407

100%

767

(59)

83,761

100%

Customer segments

Office-based

13,436

43%

11,096

40%

4,465

31%

3,951

42%

378

(53)

33,273

40%

Production-based

6,209

20%

6,057

22%

3,245

22%

3,397

36%

354

(6)

19,256

23%

Healthcare

4,693

15%

4,291

15%

3,112

22%

103

1%

-

-

12,199

14%

Other

6,990

22%

6,471

23%

3,581

25%

1,956

21%

35

-

19,033

23%

Total

31,328

100%

27,915

100%

14,403

100%

9,407

100%

767

(59)

83,761

100%

Core services

Cleaning

13,090

42%

12,697

45%

6,808

47%

2,253

24%

102

(23)

34,927

42%

Technical

7,408

24%

8,241

30%

1,157

8%

2,487

26%

140

(20)

19,413

23%

Food

5,720

18%

2,554

9%

1,234

9%

3,436

37%

57

(7)

12,994

15%

Other

5,110

16%

4,423

16%

5,204

36%

1,231

13%

468

(9)

16,427

20%

Total

31,328

100%

27,915

100%

14,403

100%

9,407

100%

767

(59)

83,761

100%

2023

(DKKm)

NorthernEurope

%

Central &

Southern

Europe

%

Asia &Pacific

%

Ameri-cas

%

Othercoun-tries

Unall./

IC elim.

Total

%

Revenue base

Portfolio

23,731

81%

20,426

82%

12,585

88%

8,484

88%

525

(41)

65,710

84%

Projects and above-base work

5,593

19%

4,379

18%

1,644

12%

1,121

12%

258

(24)

12,971

16%

Total

29,324

100%

24,805

100%

14,229

100%

9,605

100%

783

(65)

78,681

100%

Customer categroy

Key accounts

20,690

70%

16,995

68%

10,182

72%

7,660

80%

772

(46)

56,253

71%

Large and medium

6,631

23%

6,918

28%

3,187

22%

1,926

20%

-

(17)

18,645

24%

Small and route-based

2,003

7%

892

4%

860

6%

19

0%

11

(2)

3,783

5%

Total

29,324

100%

24,805

100%

14,229

100%

9,605

100%

783

(65)

78,681

100%

Customer segments

Office-based

12,052

41%

9,991

40%

4,424

31%

3,822

40%

442

(62)

30,669

39%

Production-based

5,957

20%

5,742

23%

3,349

23%

3,578

37%

283

(3)

18,906

24%

Healthcare

4,496

16%

3,290

13%

3,074

22%

91

1%

-

-

10,951

14%

Other

6,819

23%

5,782

24%

3,382

24%

2,114

22%

58

-

18,155

23%

Total

29,324

100%

24,805

100%

14,229

100%

9,605

100%

783

(65)

78,681

100%

Core services

Cleaning

12,535

43%

10,930

44%

7,277

51%

2,285

24%

186

(48)

33,165

42%

Technical

6,735

23%

7,861

32%

1,229

9%

2,310

24%

152

(2)

18,285

23%

Food

5,250

18%

2,007

8%

1,165

8%

3,532

37%

51

(14)

11,991

15%

Workplace, incl. Other

4,804

16%

4,007

16%

4,558

32%

1,478

15%

394

(1)

15,240

20%

Total

29,324

100%

24,805

100%

14,229

100%

9,605

100%

783

(65)

78,681

100%

Accounting policy

\"\"

Transaction priceOur customer contracts are based on three commercial models:

1) Fixed price contracts;

2) Cost-plus contracts; and

3) Cost-plus variations (typically capped)

All three models include mechanisms to adjust the transaction price for a) inflation and regulatory changes and b) scope changes (contract modifications).

Inflation and regulatory adjustments are typically implemented annually based on the actual development in salaries/minimum wages or cost of consumables (e.g. food) based on changes to a price index.

Scope changes regularly occur, particularly for key account customers, to ensure that service solutions reflect our customers\u2019 current needs. Such modifications are generally agreed with the customer in advance as per a specified change management procedure in the contract.

In addition to these general adjustment mechanisms applicable for all commercial models, the differences between models in determining the transaction price are highlighted below.

For fixed price contractsthe transaction price stated in the contract is based on a fixed amount for the agreed services.

For cost-plus contractsthe transaction price is determined based on actual costs incurred with the addition of an agreed markup/management fee. In addition, the transaction price may include a variable consideration element determined based on achievement of certain defined key performance indicators (KPIs). Variable consideration is assessed on a contract-by-contract basis on a recurring basis in alignment with the customer, and is measured based on the most likely amount management expects ISS to be entitled to.

For cost-plus variations, determining the transaction price is similar to the cost-plus (including variable consideration), however typically with a cap, i.e. if ISS\u2019s actual costs exceed a guaranteed maximum price (GMP), the consideration is reduced to the GMP. Determining the transaction price requires assessment of which costs may be included in the calculation basis and if relevant, whether within the capped maximum.

RecognitionRevenue from contracts with customers is recognised 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.

Revenue is recognised based on the actual services provided in the reporting period as a proportion of the total services to be provided. This is determined based on the actual labour hours and costs expensed relative to the total expected labour hours and costs to complete the service. Estimates of labour hours and costs or extent of progress toward completion are revised if circumstances change. Any resulting increases or decreases in estimated revenues or costs are reflected in profit or loss in the period in which the circumstances that give rise to the revision become known by management.

Contract modifications are accounted for going forward with no impact on recognised revenue up to the date of modification.

Variable consideration is recognised as services are performed to the extent that it is highly probable that the amount will not be subject to significant reversal.

Customers are invoiced on a monthly basis in accordance with contractual terms, and payment terms are agreed on an individual basis.

Gross or net presentationOur strategy and business model are based on delivery of integrated facility services (IFS) to our customers with ISS carrying the responsibility and risks related to the services provided. The Group has generally concluded that it is the principal in its revenue arrangements, and consequently as a main rule recognises revenue on a gross basis.

In arrangements where ISS uses subcontractors, the Group assesses on a contract-by-contract basis, whether ISS is the principal or ISS is acting as the agent. The assessment is based on whether ISS controls the services before transferring them to the customer.

Typically, when the Group has concluded that ISS controls the services and is the principal, ISS:

1) engages with the customer before and after the services are provided, and takes the responsibility for fulfilment of services according to the contract;

2) has discretion in establishing the price for the agreed services;

3) selects and engages with the subcontractor; and

4) agrees changes to services directly with the customer.

1.2.3 Revenue backlogOur revenue base consists of a mix of yearly contracts, which are renewed tacitly, and thousands of multi-year contracts, the majority of which have an initial term of 3-5 years. Contracts regularly include options for the customer to terminate for convenience within 3-9 months. However, both for key accounts and others, we maintain a high retention rate of 93%, support-ing that these options are rarely exercised.

The vast majority of our revenue is portfolio revenue, see 1.2, Revenue. The remaining part is non-recurring in the form of projects and above-base work (not committed) 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 sig-nificantly lower than reported revenue and will likely not reflect the degree of certainty in future revenue (and cash inflows) to the Group. Therefore, 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)

2024

2023

< 1 year

23,510

35%

20,793

33%

1-5 years

36,182

54%

35,356

56%

> 5 years

7,553

11%

7,463

11%

Total

67,245

100%

63,612

100%

", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__38": { "value": "

Accounting policy

\"\"

Transaction priceOur customer contracts are based on three commercial models:

1) Fixed price contracts;

2) Cost-plus contracts; and

3) Cost-plus variations (typically capped)

All three models include mechanisms to adjust the transaction price for a) inflation and regulatory changes and b) scope changes (contract modifications).

Inflation and regulatory adjustments are typically implemented annually based on the actual development in salaries/minimum wages or cost of consumables (e.g. food) based on changes to a price index.

Scope changes regularly occur, particularly for key account customers, to ensure that service solutions reflect our customers\u2019 current needs. Such modifications are generally agreed with the customer in advance as per a specified change management procedure in the contract.

In addition to these general adjustment mechanisms applicable for all commercial models, the differences between models in determining the transaction price are highlighted below.

For fixed price contractsthe transaction price stated in the contract is based on a fixed amount for the agreed services.

For cost-plus contractsthe transaction price is determined based on actual costs incurred with the addition of an agreed markup/management fee. In addition, the transaction price may include a variable consideration element determined based on achievement of certain defined key performance indicators (KPIs). Variable consideration is assessed on a contract-by-contract basis on a recurring basis in alignment with the customer, and is measured based on the most likely amount management expects ISS to be entitled to.

For cost-plus variations, determining the transaction price is similar to the cost-plus (including variable consideration), however typically with a cap, i.e. if ISS\u2019s actual costs exceed a guaranteed maximum price (GMP), the consideration is reduced to the GMP. Determining the transaction price requires assessment of which costs may be included in the calculation basis and if relevant, whether within the capped maximum.

RecognitionRevenue from contracts with customers is recognised 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.

Revenue is recognised based on the actual services provided in the reporting period as a proportion of the total services to be provided. This is determined based on the actual labour hours and costs expensed relative to the total expected labour hours and costs to complete the service. Estimates of labour hours and costs or extent of progress toward completion are revised if circumstances change. Any resulting increases or decreases in estimated revenues or costs are reflected in profit or loss in the period in which the circumstances that give rise to the revision become known by management.

Contract modifications are accounted for going forward with no impact on recognised revenue up to the date of modification.

Variable consideration is recognised as services are performed to the extent that it is highly probable that the amount will not be subject to significant reversal.

Customers are invoiced on a monthly basis in accordance with contractual terms, and payment terms are agreed on an individual basis.

Gross or net presentationOur strategy and business model are based on delivery of integrated facility services (IFS) to our customers with ISS carrying the responsibility and risks related to the services provided. The Group has generally concluded that it is the principal in its revenue arrangements, and consequently as a main rule recognises revenue on a gross basis.

In arrangements where ISS uses subcontractors, the Group assesses on a contract-by-contract basis, whether ISS is the principal or ISS is acting as the agent. The assessment is based on whether ISS controls the services before transferring them to the customer.

Typically, when the Group has concluded that ISS controls the services and is the principal, ISS:

1) engages with the customer before and after the services are provided, and takes the responsibility for fulfilment of services according to the contract;

2) has discretion in establishing the price for the agreed services;

3) selects and engages with the subcontractor; and

4) agrees changes to services directly with the customer.

", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__39": { "value": "

1.3 Employee costs

(DKKm)

Note

2024

2023

Wages and salaries

42,716

39,992

Social security costs

8,525

8,141

Pensions

7.1

1,488

1,402

Share-based payments

6.2

93

72

Total

52,822

49,607

Average number of employees 1)

327,767

334,962

1)Excluding France.

", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__40-1": { "value": "

1.3 Employee costs

(DKKm)

Note

2024

2023

Wages and salaries

42,716

39,992

Social security costs

8,525

8,141

Pensions

7.1

1,488

1,402

Share-based payments

6.2

93

72

Total

52,822

49,607

Average number of employees 1)

327,767

334,962

1)Excluding France.

Our strategy is based on self-delivery of our services by our placemakers. They are our key resource and fundamental to our value creation.

Our business model is asset-light and therefore employee costs is our single largest cost category.

In 2024, employee costs comprised 66% of the total operating costs (2023: 66%).

Government grants

In 2024, the Group recognised government grants of DKK 178 million (2023: DKK 184 million) in the form of wage subventions, which have been recognised as a reduction of employee costs. The grants compensated the Group primarily for social security, wage increases as well as for employing certain categories of employees such as trainees, disabled persons, long-term unemployed and employees in certain age groups.

6.1 Management

remuneration

6.1.1 Key management personnel

EGM

(DKK thousand)

Board

EGMB

Corporate

Senior

Officers

2024

Base salary and non-monetary benefits

9,121

11,776

38,523

Annual bonus (STIP)

-

10,707

21,556

Sign-on bonus

-

1,552

-

Pensions

-

1,113

2,086

Share-based payments

-

5,117

13,943

Severance payments

257

-

1,461

Total

9,378

30,265

77,569

2023

Base salary and non-monetary benefits

9,176

13,484

50,671

Annual bonus (STIP)

-

7,176

15,709

Sign-on bonus

-

-

11,658

Pensions

-

386

3,916

Share-based payments 1)

-

(4,603)

18,664

Severance payments

-

-

16,161

Total

9,176

16,443

116,779

1)Including a cost reversal of DKK 7 million due to forfeited PSUs as the Group CEO Jacob Aarup-Andersen left ISS.

The Executive Group Management (EGM) comprises the Executive Group Man-agement Board (EGMB) and Corporate Senior Officers of the Group.

Members of the EGM have authority and responsibility for planning, implement-ing and controlling the Group\u2019s activities and are together with the Board of Directors (Board) considered as the Group\u2019s key management personnel.

On 3 June 2024, Mads Holm joined ISS as Group CFO. In the period until 31 July 2024, the EGMB comprised only one member, the Group CEO.

Remuneration policy is described in the Remuneration report which is available here

6.2 Share-based payments

6.2.1 Long-term incentive programmeMembers of the EGM and other senior officers of the Group are granted a number of performance share units (PSUs) under the annual LTIP. Participants are compensated for any dividend distributed between time of grant and time of vest-ing. 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 2024, the Group recognised a cost of DKK 93 million (2023: DKK 72 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.

Fair value and profit or loss impact

LTIP 2021 1)

LTIP 2022

LTIP 2023

LTIP 2024

Fair value(DKKm)

At grant date

116

129

116

113

At 31 December 2024

-

93

95

105

Profit or loss impact(DKKm)

Recognised in 2024

7

35

26

21

Not yet recognised

-

4

29

62

PSUs and participants(number)

Participants

122

140

147

132

PSUs granted

1,362,540

1,448,791

1,011,072

1,171,299

PSUs expected to vest (of outstanding PSUs), %

64%

75%

44%

51%

1)Vested in March 2024.

Fair value assumptions

LTIP 2021

LTIP 2022

LTIP 2023

LTIP 2024

At the time of grant

Share price, DKK 1)

111-153

117-153

122-153

124-127

Expected volatility 2)

41.2 %

42.3 %

33.8 %

32.8 %

Expected life of grant, years

3

3

3

3

Risk-free interest rate 2)

(0.6) %-0.9 %

(0.1%)-1.5 %

1.0%-3.1%

0.8%-4.2%

1)Based on five-day average.

2)Based on observable market data for peer groups.

Vesting criteriaThe vesting criteria are total shareholder return (TSR), meas-ured relative to peer group performance, and earnings per share (EPS).

The weight of the individual criteria are:

TSR: 40 %

EPS: 40 %

Service-based objective: 20 %

TSR criteria

Threshold

Vesting

TSR

Below threshold

0 %

Below median of peers

Threshold

25 %

At median of peers

Maximum

100 %

At upper quartile of peers or better

TSR peers are the Nasdaq Copenhagen OMX C25 and a peer group of comparable international service companies.

Vested programmes In March 2024, the LTIP 2021 programme vested. Based on the annual EPS and TSR performances for 2021, 2022 and 2023, 64% of the granted PSUs vested at a weighted average price of DKK 126 at the date of exercise. After this vesting, no further PSUs are outstanding under the LTIP 2021 and the programme has lapsed.

Furthermore, in March 2025, the PSUs granted under LTIP 2022 will vest with 75% based on the annual EPS and TSR performances for 2022, 2023 and 2024.

Outstanding PSUs

EGM

LTIP 2021(vested in 2024)

EGMB

Corporate

Senior

Officers

Other

Senior

Officers

Total

Outstanding at 1 January 2023

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

Exercised

(19,631)

(95,162)

(510,920)

(625,713)

Expired

(10,809)

(52,398)

(281,448)

(344,655)

Outstanding at 31 December 2024

-

-

-

-

LTIP 2022(vesting in 2025)

At 1 January 2023

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

Granted

646

3,536

15,629

19,811

Forfeited

-

(13,648)

(27,653)

(41,301)

Outstanding at 31 December 2024

35,479

180,491

843,729

1,059,699

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

Granted

883

2,668

12,605

16,156

Forfeited

-

(13,823)

(48,084)

(61,907)

Outstanding at 31 December 2024

48,581

132,657

649,622

830,860

LTIP 2024(vesting in 2027)

Granted

115,713

163,197

892,389

1,171,299

Forfeited

-

(19,452)

(60,697)

(80,149)

Outstanding at 31 December 2024

115,713

143,745

831,692

1,091,150

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 EGM members and Other senior officers of the Group. Subject to individual service criteria, the RSUs will vest after 1.5 years. Upon vesting, each RSU entitles the holder to receive one share at no cost.

In 2024, a total of 72,772 RSUs were granted to the new Group CFO and certain Other Senior Officers under the SIP 2024 programme.

Vested programmes No SIP programmes have vested in 2024.

In March 2025, the RSUs granted under the SIP 2023pro-gramme will vest 100% subject to achievement of individual service criteria.

Fair value and profit or loss impact

SIP 2023

SIP 2024

Fair value(DKKm)

At grant date

1

9

At 31 December 2024

1

9

Profit or loss impact(DKKm)

Recognised in 2024

1

3

Not yet recognised

-

6

RSUs and participants(number)

Participants

4

6

RSUs granted

10,365

72,772

RSUs expected to vest, %

100%

100%

Fair value assumptions

SIP 2023

SIP 2024

At the time of grant

Share price, DKK

122

124-127

Expected life of grant, years

1.5

1.5

Outstanding RSUs

SIP 2023(vesting in 2025)

EGMB

Other Senior

Officers

Total

Granted

-

10,178

10,178

Outstanding at 31 December 2023

-

10,178

10,178

Granted

-

187

187

Outstanding at 31 December 2024

-

10,365

10,365

SIP 2024(vesting in 2026)

Granted

3,003

69,769

72,772

Outstanding at 31 December 2024

3,003

69,769

72,772

Accounting policy

\"\"

The 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)), see Vesting criteria in 6.2.1. Fair value assumptions are disclosed in the tables in 6.2.1 and 6.2.2.

On initial recognition, an estimate is made of the number of PSUs and RSUs expected to vest. The estimated number is revised for changes in the number of PSUs and RSUs expected to vest due to non-market based vesting conditions.

", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__43-1": { "value": "

1.3 Employee costs

(DKKm)

Note

2024

2023

Wages and salaries

42,716

39,992

Social security costs

8,525

8,141

Pensions

7.1

1,488

1,402

Share-based payments

6.2

93

72

Total

52,822

49,607

Average number of employees 1)

327,767

334,962

1)Excluding France.

Our strategy is based on self-delivery of our services by our placemakers. They are our key resource and fundamental to our value creation.

Our business model is asset-light and therefore employee costs is our single largest cost category.

In 2024, employee costs comprised 66% of the total operating costs (2023: 66%).

Government grants

In 2024, the Group recognised government grants of DKK 178 million (2023: DKK 184 million) in the form of wage subventions, which have been recognised as a reduction of employee costs. The grants compensated the Group primarily for social security, wage increases as well as for employing certain categories of employees such as trainees, disabled persons, long-term unemployed and employees in certain age groups.

1.4 Other income and expenses, net

(DKKm)

2024

2023

Gain on divestments

9

14

Other income

9

14

Loss on divestments

(64)

(32)

Acquisition and integration costs

(32)

(16)

Other

(76)

(59)

Other expenses

(172)

(107)

Other income and expenses, net

(163)

(93)

Loss on divestmentsmainly related to an adjustment of the deferred consideration for the Specialized Services business in the US, which was divested in 2021. In 2023, the loss mainly related to divestments in Spain.

Acquisition and integration costsrelated to the Group\u2019s acqui-sitions in Spain, Switzerland and Austria. Of the total amount, DKK 10 million was acquisition costs (2023: DKK 8 million).

Othercomprised mainly remeasurement of the contingent consideration related to the transaction in T\u00fcrkiye in 2021.

Accounting policy

\"\"

Other income and expenses, net consists of recurring and non-recurring items that management does not consider to be part of the Group\u2019s ordinary operating activities, i.e. divestment gains and losses, remeasurement of disposal groups classified as held for sale, the winding-up of operations, disposal of property as well as acquisition and integration costs.

Other income and expenses, net are presented separately from the Group\u2019s ordinary operating activities as management believes that this best reflects the Group\u2019s financial performance.

", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__42": { "value": "

Government grants

In 2024, the Group recognised government grants of DKK 178 million (2023: DKK 184 million) in the form of wage subventions, which have been recognised as a reduction of employee costs. The grants compensated the Group primarily for social security, wage increases as well as for employing certain categories of employees such as trainees, disabled persons, long-term unemployed and employees in certain age groups.

", "dimensions": { "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__46": { "value": "

Accounting policy

\"\"

Other income and expenses, net consists of recurring and non-recurring items that management does not consider to be part of the Group\u2019s ordinary operating activities, i.e. divestment gains and losses, remeasurement of disposal groups classified as held for sale, the winding-up of operations, disposal of property as well as acquisition and integration costs.

Other income and expenses, net are presented separately from the Group\u2019s ordinary operating activities as management believes that this best reflects the Group\u2019s financial performance.

", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__47": { "value": "

2.1 Trade receivables and credit risk

(DKKm)

Gross

Expected

credit losses

Carrying amount

2024

Central & Southern Europe

5,371

(45)

5,326

Northern Europe

3,879

(67)

3,812

Asia & Pacific

2,113

(30)

2,083

Americas

1,105

(12)

1,093

Other countries

135

-

135

Total

12,603

(154)

12,449

Not past due

11,285

(4)

11,281

Past due 1 to 60 days

754

(6)

748

Past due 61 to 180 days

120

(11)

109

Past due 181 to 360 days

89

(37)

52

More than 360 days

355

(96)

259

Total

12,603

(154)

12,449

2023

Central & Southern Europe

4,481

(30)

4,451

Northern Europe

3,632

(59)

3,573

Asia & Pacific

2,072

(30)

2,042

Americas

1,194

(8)

1,186

Other countries

102

-

102

Total

11,481

(127)

11,354

Not past due

10,148

(1)

10,147

Past due 1 to 60 days

878

(2)

876

Past due 61 to 180 days

220

(40)

180

Past due 181 to 360 days

113

(28)

85

More than 360 days

122

(56)

66

Total

11,481

(127)

11,354

Development in 2024

In 2024, trade receivables increased to DKK 12,449 million (2023: DKK 11,354 million) generally as a result of organic growth driven by price increases and higher activity levels at customer sites across the Group as well as acquisitions in Switzerland and Spain. In addition, 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 the contractual dispute with Deutsche Telekom.

Commercial use of factoring with certain large key account customers and participation in certain customers\u2019 supply chain finance arrangements was DKK 1.53 billion (2023: DKK 1.45 billion) at 31 December 2024. The development reflected in-creasing revenue from key account customers, where invoices, as per the Group\u2019s factoring policy, are eligible for factoring.

Expected credit losses comprised 1.2% (2023: 1.1%) of trade receivables (gross) and trade receivables not past due was 90% of trade receivables (gross) (2023: 88%).

Expected credit losses

(DKKm)

2024

2023

At 1 January

(127)

(124)

FX adjustments

(2)

4

Acquisitions

(18)

(5)

Additions

(68)

(86)

Unused amounts reversed

40

52

Unrecoverable amounts written off

21

18

Reclass to Assets held for sale

-

14

At 31 December

(154)

(127)

Credit risk

\u2013 low exposure

The Group\u2019s exposure to credit risk is inherently low due to its business model and strategic choices leading to a diversified customer portfolio, both in terms of geography, industry sector, customer size and services.

Risk management

Exposure to credit risk and expected credit losses are managed locally in the operating entities.

We have a strong ongoing assessment and monitoring of customers\u2019 creditworthiness and the credit limits are set as deemed appropriate taking into account the customer\u2019s financial position and the current market conditions.

In 2024, we continued to manage inflation tightly through price increases. The vast majority of cost increases were passed on to customers as per the agreed contractual terms with no increase in credit losses.

Generally, the Group does not hold collateral as security for trade receivables.

", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__48": { "value": "

2.1 Trade receivables and credit risk

(DKKm)

Gross

Expected

credit losses

Carrying amount

2024

Central & Southern Europe

5,371

(45)

5,326

Northern Europe

3,879

(67)

3,812

Asia & Pacific

2,113

(30)

2,083

Americas

1,105

(12)

1,093

Other countries

135

-

135

Total

12,603

(154)

12,449

Not past due

11,285

(4)

11,281

Past due 1 to 60 days

754

(6)

748

Past due 61 to 180 days

120

(11)

109

Past due 181 to 360 days

89

(37)

52

More than 360 days

355

(96)

259

Total

12,603

(154)

12,449

2023

Central & Southern Europe

4,481

(30)

4,451

Northern Europe

3,632

(59)

3,573

Asia & Pacific

2,072

(30)

2,042

Americas

1,194

(8)

1,186

Other countries

102

-

102

Total

11,481

(127)

11,354

Not past due

10,148

(1)

10,147

Past due 1 to 60 days

878

(2)

876

Past due 61 to 180 days

220

(40)

180

Past due 181 to 360 days

113

(28)

85

More than 360 days

122

(56)

66

Total

11,481

(127)

11,354

Development in 2024

In 2024, trade receivables increased to DKK 12,449 million (2023: DKK 11,354 million) generally as a result of organic growth driven by price increases and higher activity levels at customer sites across the Group as well as acquisitions in Switzerland and Spain. In addition, 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 the contractual dispute with Deutsche Telekom.

Commercial use of factoring with certain large key account customers and participation in certain customers\u2019 supply chain finance arrangements was DKK 1.53 billion (2023: DKK 1.45 billion) at 31 December 2024. The development reflected in-creasing revenue from key account customers, where invoices, as per the Group\u2019s factoring policy, are eligible for factoring.

Expected credit losses comprised 1.2% (2023: 1.1%) of trade receivables (gross) and trade receivables not past due was 90% of trade receivables (gross) (2023: 88%).

Expected credit losses

(DKKm)

2024

2023

At 1 January

(127)

(124)

FX adjustments

(2)

4

Acquisitions

(18)

(5)

Additions

(68)

(86)

Unused amounts reversed

40

52

Unrecoverable amounts written off

21

18

Reclass to Assets held for sale

-

14

At 31 December

(154)

(127)

Credit risk

\u2013 low exposure

The Group\u2019s exposure to credit risk is inherently low due to its business model and strategic choices leading to a diversified customer portfolio, both in terms of geography, industry sector, customer size and services.

Risk management

Exposure to credit risk and expected credit losses are managed locally in the operating entities.

We have a strong ongoing assessment and monitoring of customers\u2019 creditworthiness and the credit limits are set as deemed appropriate taking into account the customer\u2019s financial position and the current market conditions.

In 2024, we continued to manage inflation tightly through price increases. The vast majority of cost increases were passed on to customers as per the agreed contractual terms with no increase in credit losses.

Generally, the Group does not hold collateral as security for trade receivables.

Accounting policy

\"\"

Tradereceivablescomprise invoiced and unbilled revenue. Unbilled revenue represents service deliveries where the performance obligation has been fulfilled, but not yet invoiced. Trade receivables are recognised at the invoiced amount less expected credit losses, which equals amortised costs due to their short-term nature.

The Group applies the simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables.

The expected loss rates are calculated based on days past due for grouping of customers with similar loss patterns, e.g. geographical region, industry sector and customer rating. The historical loss rates are adjusted to reflect current and forecasts of future economic conditions on macroeconomic factors affecting the ability of the customers to settle the receivables.

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 or reversal of expected credit losses are credited against the same line item.

Factoringand participation in customers\u2019 supply chain finance arrangements (together referred to as 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 mobilisation of such contracts. Trade receivables subject to factoring are derecognised when the derecognition criteria are met and the substantial risks and rewards are transferred to the factor. Once the trade receivables are derecognised, the Group does not carry any risk and has no continuing involvement in these.

", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__49-1": { "value": "

2.1 Trade receivables and credit risk

(DKKm)

Gross

Expected

credit losses

Carrying amount

2024

Central & Southern Europe

5,371

(45)

5,326

Northern Europe

3,879

(67)

3,812

Asia & Pacific

2,113

(30)

2,083

Americas

1,105

(12)

1,093

Other countries

135

-

135

Total

12,603

(154)

12,449

Not past due

11,285

(4)

11,281

Past due 1 to 60 days

754

(6)

748

Past due 61 to 180 days

120

(11)

109

Past due 181 to 360 days

89

(37)

52

More than 360 days

355

(96)

259

Total

12,603

(154)

12,449

2023

Central & Southern Europe

4,481

(30)

4,451

Northern Europe

3,632

(59)

3,573

Asia & Pacific

2,072

(30)

2,042

Americas

1,194

(8)

1,186

Other countries

102

-

102

Total

11,481

(127)

11,354

Not past due

10,148

(1)

10,147

Past due 1 to 60 days

878

(2)

876

Past due 61 to 180 days

220

(40)

180

Past due 181 to 360 days

113

(28)

85

More than 360 days

122

(56)

66

Total

11,481

(127)

11,354

Development in 2024

In 2024, trade receivables increased to DKK 12,449 million (2023: DKK 11,354 million) generally as a result of organic growth driven by price increases and higher activity levels at customer sites across the Group as well as acquisitions in Switzerland and Spain. In addition, 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 the contractual dispute with Deutsche Telekom.

Commercial use of factoring with certain large key account customers and participation in certain customers\u2019 supply chain finance arrangements was DKK 1.53 billion (2023: DKK 1.45 billion) at 31 December 2024. The development reflected in-creasing revenue from key account customers, where invoices, as per the Group\u2019s factoring policy, are eligible for factoring.

Expected credit losses comprised 1.2% (2023: 1.1%) of trade receivables (gross) and trade receivables not past due was 90% of trade receivables (gross) (2023: 88%).

Expected credit losses

(DKKm)

2024

2023

At 1 January

(127)

(124)

FX adjustments

(2)

4

Acquisitions

(18)

(5)

Additions

(68)

(86)

Unused amounts reversed

40

52

Unrecoverable amounts written off

21

18

Reclass to Assets held for sale

-

14

At 31 December

(154)

(127)

Credit risk

\u2013 low exposure

The Group\u2019s exposure to credit risk is inherently low due to its business model and strategic choices leading to a diversified customer portfolio, both in terms of geography, industry sector, customer size and services.

Risk management

Exposure to credit risk and expected credit losses are managed locally in the operating entities.

We have a strong ongoing assessment and monitoring of customers\u2019 creditworthiness and the credit limits are set as deemed appropriate taking into account the customer\u2019s financial position and the current market conditions.

In 2024, we continued to manage inflation tightly through price increases. The vast majority of cost increases were passed on to customers as per the agreed contractual terms with no increase in credit losses.

Generally, the Group does not hold collateral as security for trade receivables.

Accounting policy

\"\"

Tradereceivablescomprise invoiced and unbilled revenue. Unbilled revenue represents service deliveries where the performance obligation has been fulfilled, but not yet invoiced. Trade receivables are recognised at the invoiced amount less expected credit losses, which equals amortised costs due to their short-term nature.

The Group applies the simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables.

The expected loss rates are calculated based on days past due for grouping of customers with similar loss patterns, e.g. geographical region, industry sector and customer rating. The historical loss rates are adjusted to reflect current and forecasts of future economic conditions on macroeconomic factors affecting the ability of the customers to settle the receivables.

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 or reversal of expected credit losses are credited against the same line item.

Factoringand participation in customers\u2019 supply chain finance arrangements (together referred to as 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 mobilisation of such contracts. Trade receivables subject to factoring are derecognised when the derecognition criteria are met and the substantial risks and rewards are transferred to the factor. Once the trade receivables are derecognised, the Group does not carry any risk and has no continuing involvement in these.

2.2 Other receivables

(DKKm)

2024

2023

Supplier rebates and bonuses

531

434

Prepayments to suppliers

357

379

Securities

140

117

Sign-on fees

132

98

Receivable divestment proceeds

70

114

Government grants

69

23

Transition and mobilisation costs

44

42

Derivatives

51

24

Other

327

397

Total

1,721

1,628

Supplier rebates and bonusescomprised volume-related supplier discounts and reflects the Group\u2019s continued efforts to minimise the number of suppliers and drive synergies and cost savings.

Prepayments to supplierscomprised various payments mainly related to IT licences, utilities and insurance.

Securitiesrelated to a savings plan in the US administered by ISS on behalf of certain senior employees.

Sign-on feescomprised upfront discounts to certain large customers incurred in the normal course of business, most significantly in the UK, Australia and the US and on certain glob-al key accounts.

Receivable divestment proceedsmainly related to the divestment of Specialized Services in the US, where part of the consideration is deferred.

Government grantsrelated to wage subventions mainly in Singapore and Spain.

Transition and mobilisation costscomprised costs to fulfil the performance obligation under certain large long-term contracts. At 31 December 2024, capitalised transition and mobilisation costs amounted to DKK 44 million (2023: DKK 42 million). The increase in 2024 was due to mobilisation activities for the startup of Defra in the UK and the Danish Building and Property Agency in Denmark, partly offset by ordinary amortisation.

Othercomprised refunds from customers, accrued interest, VAT, employee-related taxes and other recoverable amounts.

", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__52-1": { "value": "

Accounting policy

\"\"

Tradereceivablescomprise invoiced and unbilled revenue. Unbilled revenue represents service deliveries where the performance obligation has been fulfilled, but not yet invoiced. Trade receivables are recognised at the invoiced amount less expected credit losses, which equals amortised costs due to their short-term nature.

The Group applies the simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables.

The expected loss rates are calculated based on days past due for grouping of customers with similar loss patterns, e.g. geographical region, industry sector and customer rating. The historical loss rates are adjusted to reflect current and forecasts of future economic conditions on macroeconomic factors affecting the ability of the customers to settle the receivables.

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 or reversal of expected credit losses are credited against the same line item.

Factoringand participation in customers\u2019 supply chain finance arrangements (together referred to as 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 mobilisation of such contracts. Trade receivables subject to factoring are derecognised when the derecognition criteria are met and the substantial risks and rewards are transferred to the factor. Once the trade receivables are derecognised, the Group does not carry any risk and has no continuing involvement in these.

Accounting policy

\"\"

Other receivables comprise various items of different nature and thus different measurement methods are applied. As these items are considered 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 feesand transition and mobilisation costsare capitalised and amortised over the initial secured contract term consistent with ISS\u2019s transfer of the related services to the customer.

Securitiesand derivativesare measured at fair value with fair value adjustments being recognised in profit or loss. The fair value of derivatives 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__53": { "value": "

2.2 Other receivables

(DKKm)

2024

2023

Supplier rebates and bonuses

531

434

Prepayments to suppliers

357

379

Securities

140

117

Sign-on fees

132

98

Receivable divestment proceeds

70

114

Government grants

69

23

Transition and mobilisation costs

44

42

Derivatives

51

24

Other

327

397

Total

1,721

1,628

", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__54-1": { "value": "

2.2 Other receivables

(DKKm)

2024

2023

Supplier rebates and bonuses

531

434

Prepayments to suppliers

357

379

Securities

140

117

Sign-on fees

132

98

Receivable divestment proceeds

70

114

Government grants

69

23

Transition and mobilisation costs

44

42

Derivatives

51

24

Other

327

397

Total

1,721

1,628

Supplier rebates and bonusescomprised volume-related supplier discounts and reflects the Group\u2019s continued efforts to minimise the number of suppliers and drive synergies and cost savings.

Prepayments to supplierscomprised various payments mainly related to IT licences, utilities and insurance.

Securitiesrelated to a savings plan in the US administered by ISS on behalf of certain senior employees.

Sign-on feescomprised upfront discounts to certain large customers incurred in the normal course of business, most significantly in the UK, Australia and the US and on certain glob-al key accounts.

Receivable divestment proceedsmainly related to the divestment of Specialized Services in the US, where part of the consideration is deferred.

Government grantsrelated to wage subventions mainly in Singapore and Spain.

Transition and mobilisation costscomprised costs to fulfil the performance obligation under certain large long-term contracts. At 31 December 2024, capitalised transition and mobilisation costs amounted to DKK 44 million (2023: DKK 42 million). The increase in 2024 was due to mobilisation activities for the startup of Defra in the UK and the Danish Building and Property Agency in Denmark, partly offset by ordinary amortisation.

Othercomprised refunds from customers, accrued interest, VAT, employee-related taxes and other recoverable amounts.

", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__56-1": { "value": "

2.2 Other receivables

(DKKm)

2024

2023

Supplier rebates and bonuses

531

434

Prepayments to suppliers

357

379

Securities

140

117

Sign-on fees

132

98

Receivable divestment proceeds

70

114

Government grants

69

23

Transition and mobilisation costs

44

42

Derivatives

51

24

Other

327

397

Total

1,721

1,628

Supplier rebates and bonusescomprised volume-related supplier discounts and reflects the Group\u2019s continued efforts to minimise the number of suppliers and drive synergies and cost savings.

Prepayments to supplierscomprised various payments mainly related to IT licences, utilities and insurance.

Securitiesrelated to a savings plan in the US administered by ISS on behalf of certain senior employees.

Sign-on feescomprised upfront discounts to certain large customers incurred in the normal course of business, most significantly in the UK, Australia and the US and on certain glob-al key accounts.

Receivable divestment proceedsmainly related to the divestment of Specialized Services in the US, where part of the consideration is deferred.

Government grantsrelated to wage subventions mainly in Singapore and Spain.

Transition and mobilisation costscomprised costs to fulfil the performance obligation under certain large long-term contracts. At 31 December 2024, capitalised transition and mobilisation costs amounted to DKK 44 million (2023: DKK 42 million). The increase in 2024 was due to mobilisation activities for the startup of Defra in the UK and the Danish Building and Property Agency in Denmark, partly offset by ordinary amortisation.

Othercomprised refunds from customers, accrued interest, VAT, employee-related taxes and other recoverable amounts.

", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__59": { "value": "Securitiesand derivativesare measured at fair value with fair value adjustments being recognised in profit or loss. The fair value of derivatives 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__60-1": { "value": "Securitiesand derivativesare measured at fair value with fair value adjustments being recognised in profit or loss. The fair value of derivatives is presented in Other receivables when the fair value is positive and in Other liabilities when the fair value is negative.

Accounting policy

\"\"

The Group\u2019s interest rate swaps qualifies as a fair value hedge as the risk being hedged is the possible change in the fair value of a recognised liability. 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 Finance income or Finance costs. The change in the fair value of the hedged item (the bond) attributable to the risk being hedged is recognised as part of the carrying amount of the hedged item and is also recognised in profit or loss under Finance income or Finance costs. The gain or loss relating to the ineffective portion is recognised in profit or loss under Finance income or Finance costs.

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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__61": { "value": "

2.3 Other liabilities

(DKKm)

2024

2023

Accrued wages, pensions, holiday allowances and social security

5,642

5,181

Tax withholdings, VAT etc.

1,813

1,778

Prepayments from customers

1,110

989

Contingent consideration and deferred payments

227

29

Accrued interests

175

96

Savings plan

140

117

Derivatives

19

63

Other

379

229

Total

9,505

8,482

In 2024, other liabilities increased DKK 1,023 million mainly due to higher activity levels and inflation leading to higher accruals for wages, pensions, holiday allowances and social security of DKK 461 million. Furthermore, contingent consideration and deferred payments increased DKK 198 million mainly related to the divestment of ISS France, where part of the consideration is deferred up to three years from the divestment date, see 3.4, Discontinued operations and divestments.

Savings planrelated 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.

Othercomprised customer discounts, etc.

", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__62": { "value": "

2.3 Other liabilities

(DKKm)

2024

2023

Accrued wages, pensions, holiday allowances and social security

5,642

5,181

Tax withholdings, VAT etc.

1,813

1,778

Prepayments from customers

1,110

989

Contingent consideration and deferred payments

227

29

Accrued interests

175

96

Savings plan

140

117

Derivatives

19

63

Other

379

229

Total

9,505

8,482

In 2024, other liabilities increased DKK 1,023 million mainly due to higher activity levels and inflation leading to higher accruals for wages, pensions, holiday allowances and social security of DKK 461 million. Furthermore, contingent consideration and deferred payments increased DKK 198 million mainly related to the divestment of ISS France, where part of the consideration is deferred up to three years from the divestment date, see 3.4, Discontinued operations and divestments.

Savings planrelated 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.

Othercomprised customer discounts, etc.

", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__63-1": { "value": "

2.4 Changes in working capital

(DKKm)

2024

2023

Changes in inventories

(14)

(24)

Changes in receivables

(1,014)

(800)

Changes in payables

533

1,020

Total

(495)

196

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 perfor-mance 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)

Note

2024

2023

Cash flow from operating activities

3,727

3,392

Acquisition of intangible assets, property and equipment

(634)

(719)

Disposal of intangible assets, property and equipment

15

16

Change in financial assets 1)

(35)

(6)

Addition of right-of-use assets, net

2.6

(1,077)

(908)

Free cash flow

1,996

1,775

1)Excluding changes in equity-accounted investments of DKK 22 million (2023: DKK (15) million).

4.2.3 Cash flow impact from changes in borrowings

(DKKm)

Note

Issued

bonds

Lease

liabilities

Bank

loans

Total

2024

At 1 January

14,073

2,335

311

16,719

FX adjustments

9

(13)

(8)

(12)

Cash flows

1,459

(963)

(259)

237

Acquisitions/divestments, net

-

11

89

100

Lease additions

2.6

-

1,077

-

1,077

Fair value adjustments

4.4

88

-

-

88

Other

6

17

109

132

At 31 December

15,635

2,464

242

18,341

2023

At 1 January

13,973

2,464

363

16,800

FX adjustments

31

(16)

(118)

(103)

Cash flows

-

(791)

(147)

(938)

Acquisitions/divestments, net

-

(9)

207

198

Lease additions

2.6

-

908

-

908

Fair 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

16,719

", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__64": { "value": "

2.5 Provisions, contingencies, guarantees and commitments

ISS is exposed to various risks and uncertainties, and party to certain disputes, claims, investigations and legal proceedings arising out of the normal conduct of its business. These are mainly within:

Commercial/contractual matters

Labour-related

Divestments and M&A

Tax/social regulations

Provisions are recognised in relation to such obligations for probable losses that management deems reasonable and appropriate at 31 December 2024 as reflected in the table to the right. In addition, ISS is exposed to possible obligations in relation hereto, see 2.5.2, Contingencies.

2.5.1 ProvisionsLegal claims and disputesThe provision primarily relates to labour-related claims and dis-putes 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 associated with our divestment activities. Such claims and disputes arise out of the normal conduct of busi-ness. In 2024, the decrease was primarily due to payments for a divestment-related dispute in the US and for the VAT dispute on canteen services in Norway as well as settlement of various labour-related disputes in the ordinary course of business. At 31 December 2024, the remaining provision predominantly concerned Spain, T\u00fcrkiye, 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.

Listed below are the relevant countries, including self-insurance limits:

Hong Kong:DKK 27.6m, yearly (2023: DKK 25.9m)

UK:DKK 27.0m, yearly aggregated limit (2023: DKK 25.7m) and DKK 4.5m per claim (2023: DKK 4.3m)

Australia:DKK 4.5m per claim (2023: DKK 4.6m)

US:DKK 3.6m per claim (2023: DKK 3.4m)

The 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-insured for claims below DKK 7.5 million (EUR 1 million per claim).

Restructurings

The provision mainly relates to restructuring projects conduct-ed 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 2024, payments mainly related to severance costs in Germany following the OneISS strategic review in late 2023.

Onerous contracts

The provision covers unavoidable costs for certain loss-making contracts. In 2024, we continued to manage inflation through price increases and cost efficiencies. As a result, we did not identify any significant new onerous contracts or increased provision for contracts already recognised as onerous.

Other

The provision comprises various other risks and obligations inci-dental to our business, most significantly related to customer and contract-related risks and disputes, acquisitions, divestments and decommissioning liabilities. In 2024, the provision increased to DKK 238 million (2023: DKK 225 million) mainly due to indemnities granted by ISS in connection with the divestment of ISS France. This was offset by utilisations (payments) related to customer disputes and contract-related risks. At 31 December 2024, the provision mainly related to risks and disputes related to customer contracts and divestments in Germany, France and the US.

(DKKm)

Legal claims and disputes

Self-insurance

Restruc-turings

Onerous contracts

Other

Total

2024

At 1 January

162

263

76

26

225

752

FX adjustments

-

21

-

-

6

27

Profit or loss impact:

Additions

54

296

-

13

3

366

Unused amounts reversed

(33)

(40)

-

(13)

(1)

(87)

Used during the year (payment)

(88)

(299)

(73)

(3)

(59)

(522)

Acquisitions

-

1

-

2

-

3

Reclass (to)/from other liabilities

-

-

-

-

64

64

At 31 December

95

242

3

25

238

603

Non-current

29

139

1

10

193

372

Current

66

103

2

15

45

231

2023

At 1 January

268

245

71

77

410

1,071

FX adjustments

-

(8)

-

(1)

(2)

(11)

Profit or loss impact:

Additions

70

198

160

14

10

452

Unused amounts reversed

(76)

(32)

-

(19)

(138)

(265)

Used during the year (payment)

(140)

(203)

(150)

(28)

(41)

(562)

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

2.5 Provisions, contingencies, guarantees and commitments (continued)

2.5.2 ContingenciesISS is party to pending disputes, claims, investigations and litigations arising out of the normal conduct of its business and is therefore exposed to possible obligations. Management be-lieves 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 2024. However, the existence of such possible obligations will only be confirmed by the occurrence of future events, not entirely with-in 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 establishment of an Arbitration Tribunal under the German Institute of Arbitration (DIS) to decide on the contractual disa-greements between ISS and DTAG. The final oral hearing in the arbitration proceedings is scheduled to take place in mid July 2025. In the proceedings, ISS and DTAG have exchanged claims against each other. ISS has claimed remuneration for services performed. DTAG has disputed the claims and is withholding certain payments to ISS related to the services delivered. The outcome of the proceedings remains uncertain. Management believes that this would not have a material impact on the Group\u2019s financial position beyond the assets and liabilities already recognised at 31 December 2024.

Labour-related risks

Being a people company operating across different geogra-phies and service areas exposes us to varying and changing la-bour laws, including regulations on pension schemes. Although we have policies and procedures in place to ensure that we comply with current regulations, interpretations and proce-dures 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 2024.

Divestments The Group makes provisions for claims from purchasers or oth-er parties in connection with divestments and the representa-tions 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 disputes regarding sales price.

Restructurings Restructuring projects are being undertaken on an ongoing basis across different geographies and service areas. 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 financial position beyond the assets and liabilities already recognised at 31 December 2024.

Sales and consumption tax disputes Being a global company operating in various jurisdictions ex-poses us to varying and changing laws and regulations, includ-ing interpretations from authorities on sales and consumption taxes. Although we have policies and procedures in place to ensure that we comply 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 dis-putes, mainly in relation to VAT on canteen services in Norway.

Accounting estimates & judgements

\"\"
\"\"
\"\"
\"\"
\"\"

Due to our strategic focus on key accounts, our customer base contains a number of large complex contracts in terms of performance obligations towards our customers. The size and complexity of such contracts 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 provisions.

Onerous contractsManagement assesses whether contracts may be onerous by estimating the expected future profitability. This involves estimating total contract revenue and the unavoidable costs of meeting the performance obligations under the contract, including any transition and mobilisation costs incurred. In estimating the future profitability, management makes judgements, including in relation to termination and extension options.

Certain contracts are large, complex and longer-term facility service partnerships. When estimating unavoidable costs for such contracts, management makes assumptions around future costs taking expected optimisations and efficiency gains from improvement initiatives into consideration. While ISS has inherent risk in this respect, ISS is by nature also dependent on aligning interests 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.

RestructuringsandOtherprovisions 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.

2.5.3 GuaranteesISS has issued certain guarantees in the normal course of business.

(DKKm)

2024

2023

Bank-guaranteed performance bonds

1,955

1,845

Other performance bonds

6,696

4,824

Performance guarantees (service contracts)

8,651

6,669

Indemnity and guarantee

commitments

546

575

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.

In 2024, other performance bonds increased mainly due to a new customer 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 authori-ties towards tax withholding liabilities.

2.5.4 CommitmentsThe 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)

2024

2023

License agreements

725

792

Leases

12

60

Purchase obligations, suppliers

and subcontractors

57

44

Total not recognised

794

896

Non-current

556

673

Current

238

223

License agreements comprise multi-year software license agreements with non-cancellable obligations to pay future license fees. The majority relates to an enterprise agreement of a suite of office-related productivity and security software.

Leasesrelates to various contracts not yet commenced at 31 December, but entailing obligations for future lease payments.

Furthermore, the Group has entered into contracts with a limited number of suppliers and subcontractorsthat contain future purchase obligations.

Accounting policy

Provisions

Provisions are recognised at the estimated costs when the Group, as a result of a past event, has a present legal or constructive obligation, it is probable that an outflow of economic benefits will be required to settle the obligation and the amount can be reliably estimated. Provisions are not recognised for future operating losses. The estimated amount is discounted using the Group\u2019s average borrowing rate, if this significantly 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-insuranceon 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 affected, and include a detailed estimate of costs as well as a timeline.

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.

Customer and contract-related disputes(presented in \u201cOther\u201d 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 obligation exists, and it is probable that this will lead to an outflow of economic resources from the Group.

Decommissioning liability(presented in \u201cOther\u201d provisions) if the Group has a legal obligation to dismantle or remove an asset or restore a site or leased facilities (right-of-use assets) when vacated. The present value of the obligation is included in the cost of the relevant asset and depreciated accordingly. The estimated future costs and applied discount rate are reviewed annually and any changes are included in the cost of the asset.

Contingencies and commitments

Contingent liabilitiesare possible obligations whose existence will be confirmed by the occurrence or non-occurrence of future events. An obligation may also be contingent if the amount cannot be estimated reliably or settlement is not probable.

Contingent assetsare possible assets whose existence will be confirmed by the occurrence or non-occurrence of uncertain future events that are not wholly within the control of the entity.

Commitmentsare the Group\u2019s promise resulting from a contractual agreement to assume a future obligation for a future delivery.

Contingent assets, liabilities and commitments do not represent a present 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__65-1": { "value": "

2.5 Provisions, contingencies, guarantees and commitments

ISS is exposed to various risks and uncertainties, and party to certain disputes, claims, investigations and legal proceedings arising out of the normal conduct of its business. These are mainly within:

Commercial/contractual matters

Labour-related

Divestments and M&A

Tax/social regulations

Provisions are recognised in relation to such obligations for probable losses that management deems reasonable and appropriate at 31 December 2024 as reflected in the table to the right. In addition, ISS is exposed to possible obligations in relation hereto, see 2.5.2, Contingencies.

2.5.1 ProvisionsLegal claims and disputesThe provision primarily relates to labour-related claims and dis-putes 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 associated with our divestment activities. Such claims and disputes arise out of the normal conduct of busi-ness. In 2024, the decrease was primarily due to payments for a divestment-related dispute in the US and for the VAT dispute on canteen services in Norway as well as settlement of various labour-related disputes in the ordinary course of business. At 31 December 2024, the remaining provision predominantly concerned Spain, T\u00fcrkiye, 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.

Listed below are the relevant countries, including self-insurance limits:

Hong Kong:DKK 27.6m, yearly (2023: DKK 25.9m)

UK:DKK 27.0m, yearly aggregated limit (2023: DKK 25.7m) and DKK 4.5m per claim (2023: DKK 4.3m)

Australia:DKK 4.5m per claim (2023: DKK 4.6m)

US:DKK 3.6m per claim (2023: DKK 3.4m)

The 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-insured for claims below DKK 7.5 million (EUR 1 million per claim).

Restructurings

The provision mainly relates to restructuring projects conduct-ed 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 2024, payments mainly related to severance costs in Germany following the OneISS strategic review in late 2023.

Onerous contracts

The provision covers unavoidable costs for certain loss-making contracts. In 2024, we continued to manage inflation through price increases and cost efficiencies. As a result, we did not identify any significant new onerous contracts or increased provision for contracts already recognised as onerous.

Other

The provision comprises various other risks and obligations inci-dental to our business, most significantly related to customer and contract-related risks and disputes, acquisitions, divestments and decommissioning liabilities. In 2024, the provision increased to DKK 238 million (2023: DKK 225 million) mainly due to indemnities granted by ISS in connection with the divestment of ISS France. This was offset by utilisations (payments) related to customer disputes and contract-related risks. At 31 December 2024, the provision mainly related to risks and disputes related to customer contracts and divestments in Germany, France and the US.

(DKKm)

Legal claims and disputes

Self-insurance

Restruc-turings

Onerous contracts

Other

Total

2024

At 1 January

162

263

76

26

225

752

FX adjustments

-

21

-

-

6

27

Profit or loss impact:

Additions

54

296

-

13

3

366

Unused amounts reversed

(33)

(40)

-

(13)

(1)

(87)

Used during the year (payment)

(88)

(299)

(73)

(3)

(59)

(522)

Acquisitions

-

1

-

2

-

3

Reclass (to)/from other liabilities

-

-

-

-

64

64

At 31 December

95

242

3

25

238

603

Non-current

29

139

1

10

193

372

Current

66

103

2

15

45

231

2023

At 1 January

268

245

71

77

410

1,071

FX adjustments

-

(8)

-

(1)

(2)

(11)

Profit or loss impact:

Additions

70

198

160

14

10

452

Unused amounts reversed

(76)

(32)

-

(19)

(138)

(265)

Used during the year (payment)

(140)

(203)

(150)

(28)

(41)

(562)

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

2.5 Provisions, contingencies, guarantees and commitments (continued)

Accounting policy

Provisions

Provisions are recognised at the estimated costs when the Group, as a result of a past event, has a present legal or constructive obligation, it is probable that an outflow of economic benefits will be required to settle the obligation and the amount can be reliably estimated. Provisions are not recognised for future operating losses. The estimated amount is discounted using the Group\u2019s average borrowing rate, if this significantly 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-insuranceon 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 affected, and include a detailed estimate of costs as well as a timeline.

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.

Customer and contract-related disputes(presented in \u201cOther\u201d 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 obligation exists, and it is probable that this will lead to an outflow of economic resources from the Group.

Decommissioning liability(presented in \u201cOther\u201d provisions) if the Group has a legal obligation to dismantle or remove an asset or restore a site or leased facilities (right-of-use assets) when vacated. The present value of the obligation is included in the cost of the relevant asset and depreciated accordingly. The estimated future costs and applied discount rate are reviewed annually and any changes are included in the cost of the asset.

Contingencies and commitments

Contingent liabilitiesare possible obligations whose existence will be confirmed by the occurrence or non-occurrence of future events. An obligation may also be contingent if the amount cannot be estimated reliably or settlement is not probable.

Contingent assetsare possible assets whose existence will be confirmed by the occurrence or non-occurrence of uncertain future events that are not wholly within the control of the entity.

Commitmentsare the Group\u2019s promise resulting from a contractual agreement to assume a future obligation for a future delivery.

Contingent assets, liabilities and commitments do not represent a present legal or constructive obligation. Thus, they are not recognised, but disclosed in the notes.

Accounting estimates & judgements

\"\"
\"\"
\"\"
\"\"
\"\"

Due to our strategic focus on key accounts, our customer base contains a number of large complex contracts in terms of performance obligations towards our customers. The size and complexity of such contracts 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 provisions.

Onerous contractsManagement assesses whether contracts may be onerous by estimating the expected future profitability. This involves estimating total contract revenue and the unavoidable costs of meeting the performance obligations under the contract, including any transition and mobilisation costs incurred. In estimating the future profitability, management makes judgements, including in relation to termination and extension options.

Certain contracts are large, complex and longer-term facility service partnerships. When estimating unavoidable costs for such contracts, management makes assumptions around future costs taking expected optimisations and efficiency gains from improvement initiatives into consideration. While ISS has inherent risk in this respect, ISS is by nature also dependent on aligning interests 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.

RestructuringsandOtherprovisions 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.

", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__69-1": { "value": "

2.5.2 ContingenciesISS is party to pending disputes, claims, investigations and litigations arising out of the normal conduct of its business and is therefore exposed to possible obligations. Management be-lieves 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 2024. However, the existence of such possible obligations will only be confirmed by the occurrence of future events, not entirely with-in 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 establishment of an Arbitration Tribunal under the German Institute of Arbitration (DIS) to decide on the contractual disa-greements between ISS and DTAG. The final oral hearing in the arbitration proceedings is scheduled to take place in mid July 2025. In the proceedings, ISS and DTAG have exchanged claims against each other. ISS has claimed remuneration for services performed. DTAG has disputed the claims and is withholding certain payments to ISS related to the services delivered. The outcome of the proceedings remains uncertain. Management believes that this would not have a material impact on the Group\u2019s financial position beyond the assets and liabilities already recognised at 31 December 2024.

Labour-related risks

Being a people company operating across different geogra-phies and service areas exposes us to varying and changing la-bour laws, including regulations on pension schemes. Although we have policies and procedures in place to ensure that we comply with current regulations, interpretations and proce-dures 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 2024.

Divestments The Group makes provisions for claims from purchasers or oth-er parties in connection with divestments and the representa-tions 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 disputes regarding sales price.

Restructurings Restructuring projects are being undertaken on an ongoing basis across different geographies and service areas. 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 financial position beyond the assets and liabilities already recognised at 31 December 2024.

Sales and consumption tax disputes Being a global company operating in various jurisdictions ex-poses us to varying and changing laws and regulations, includ-ing interpretations from authorities on sales and consumption taxes. Although we have policies and procedures in place to ensure that we comply 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 dis-putes, mainly in relation to VAT on canteen services in Norway.

2.5.3 GuaranteesISS has issued certain guarantees in the normal course of business.

(DKKm)

2024

2023

Bank-guaranteed performance bonds

1,955

1,845

Other performance bonds

6,696

4,824

Performance guarantees (service contracts)

8,651

6,669

Indemnity and guarantee

commitments

546

575

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.

In 2024, other performance bonds increased mainly due to a new customer 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 authori-ties towards tax withholding liabilities.

2.5.4 CommitmentsThe 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)

2024

2023

License agreements

725

792

Leases

12

60

Purchase obligations, suppliers

and subcontractors

57

44

Total not recognised

794

896

Non-current

556

673

Current

238

223

License agreements comprise multi-year software license agreements with non-cancellable obligations to pay future license fees. The majority relates to an enterprise agreement of a suite of office-related productivity and security software.

Leasesrelates to various contracts not yet commenced at 31 December, but entailing obligations for future lease payments.

Furthermore, the Group has entered into contracts with a limited number of suppliers and subcontractorsthat contain future purchase obligations.

Contingencies and commitments

Contingent liabilitiesare possible obligations whose existence will be confirmed by the occurrence or non-occurrence of future events. An obligation may also be contingent if the amount cannot be estimated reliably or settlement is not probable.

Contingent assetsare possible assets whose existence will be confirmed by the occurrence or non-occurrence of uncertain future events that are not wholly within the control of the entity.

Commitmentsare the Group\u2019s promise resulting from a contractual agreement to assume a future obligation for a future delivery.

Contingent assets, liabilities and commitments do not represent a present legal or constructive obligation. Thus, they are not recognised, but disclosed in the notes.

", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__70": { "value": "

2.5.2 ContingenciesISS is party to pending disputes, claims, investigations and litigations arising out of the normal conduct of its business and is therefore exposed to possible obligations. Management be-lieves 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 2024. However, the existence of such possible obligations will only be confirmed by the occurrence of future events, not entirely with-in 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 establishment of an Arbitration Tribunal under the German Institute of Arbitration (DIS) to decide on the contractual disa-greements between ISS and DTAG. The final oral hearing in the arbitration proceedings is scheduled to take place in mid July 2025. In the proceedings, ISS and DTAG have exchanged claims against each other. ISS has claimed remuneration for services performed. DTAG has disputed the claims and is withholding certain payments to ISS related to the services delivered. The outcome of the proceedings remains uncertain. Management believes that this would not have a material impact on the Group\u2019s financial position beyond the assets and liabilities already recognised at 31 December 2024.

Labour-related risks

Being a people company operating across different geogra-phies and service areas exposes us to varying and changing la-bour laws, including regulations on pension schemes. Although we have policies and procedures in place to ensure that we comply with current regulations, interpretations and proce-dures 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 2024.

Divestments The Group makes provisions for claims from purchasers or oth-er parties in connection with divestments and the representa-tions 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 disputes regarding sales price.

Restructurings Restructuring projects are being undertaken on an ongoing basis across different geographies and service areas. 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 financial position beyond the assets and liabilities already recognised at 31 December 2024.

Sales and consumption tax disputes Being a global company operating in various jurisdictions ex-poses us to varying and changing laws and regulations, includ-ing interpretations from authorities on sales and consumption taxes. Although we have policies and procedures in place to ensure that we comply 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 dis-putes, mainly in relation to VAT on canteen services in Norway.

", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__73": { "value": "

2.5.4 CommitmentsThe 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)

2024

2023

License agreements

725

792

Leases

12

60

Purchase obligations, suppliers

and subcontractors

57

44

Total not recognised

794

896

Non-current

556

673

Current

238

223

License agreements comprise multi-year software license agreements with non-cancellable obligations to pay future license fees. The majority relates to an enterprise agreement of a suite of office-related productivity and security software.

Leasesrelates to various contracts not yet commenced at 31 December, but entailing obligations for future lease payments.

Furthermore, the Group has entered into contracts with a limited number of suppliers and subcontractorsthat contain future purchase obligations.

", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__68": { "value": "

Accounting policy

Provisions

Provisions are recognised at the estimated costs when the Group, as a result of a past event, has a present legal or constructive obligation, it is probable that an outflow of economic benefits will be required to settle the obligation and the amount can be reliably estimated. Provisions are not recognised for future operating losses. The estimated amount is discounted using the Group\u2019s average borrowing rate, if this significantly 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-insuranceon 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 affected, and include a detailed estimate of costs as well as a timeline.

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.

Customer and contract-related disputes(presented in \u201cOther\u201d 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 obligation exists, and it is probable that this will lead to an outflow of economic resources from the Group.

Decommissioning liability(presented in \u201cOther\u201d provisions) if the Group has a legal obligation to dismantle or remove an asset or restore a site or leased facilities (right-of-use assets) when vacated. The present value of the obligation is included in the cost of the relevant asset and depreciated accordingly. The estimated future costs and applied discount rate are reviewed annually and any changes are included in the cost of the asset.

", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__75": { "value": "Decommissioning liability(presented in \u201cOther\u201d provisions) if the Group has a legal obligation to dismantle or remove an asset or restore a site or leased facilities (right-of-use assets) when vacated. The present value of the obligation is included in the cost of the relevant asset and depreciated accordingly. The estimated future costs and applied discount rate are reviewed annually and any changes are included in the cost of the asset.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDecommissioningRestorationAndRehabilitationProvisionsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__74": { "value": "

Contingencies and commitments

Contingent liabilitiesare possible obligations whose existence will be confirmed by the occurrence or non-occurrence of future events. An obligation may also be contingent if the amount cannot be estimated reliably or settlement is not probable.

Contingent assetsare possible assets whose existence will be confirmed by the occurrence or non-occurrence of uncertain future events that are not wholly within the control of the entity.

Commitmentsare the Group\u2019s promise resulting from a contractual agreement to assume a future obligation for a future delivery.

Contingent assets, liabilities and commitments do not represent a present 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__77-1": { "value": "

2.6 Right-of-use assets, property and equipment

2.6.1 Right-of-use assetsAt 31 December 2024, ISS was party to around 18,600 (2023: 17,500) lease agreements of which the majority related to vehicles. In terms of value, the main part related to property leases which generally fall in two categories:

HQ office leases (Group headquarters in S\u00f8borg as well as HQ buildings and regional offices in each ISS Country)

Customer-specific property leases (offices, storage etc.)

In 2024, additions were DKK 1,077 million (2023: DKK 908 million). The increase was primarily attributable to new vehicle leases driven by lease cycle renewals, particularly in Germany, the UK, Belgium & Luxemburg and Finland. Also, new or extended property leases contributed, mainly in Finland and Sweden.

Lease-related costs recognised in profit or loss

(DKKm)

2024

2023

Depreciation of right-of-use assets

916

879

Leases of low-value assets

120

138

Short-term leases

104

49

Variable lease payments

8

7

Other operating expenses

1,148

1,073

Interest expenses on lease liabilities

154

121

Finance costs

154

121

Hereof cash outflow

386

315

Lease liabilities In 2024, total cash outflow for leases was DKK 1,349 million (2023: DKK 1,106 million).

For the carrying amount of lease liabilities and maturity, see 4.2.1, Borrowings and 4.5.1, Financial liabilities, respectively.

Leases not yet commencedFor the amount of leases not yet commenced is disclosed in 2.5.4, Commitments.

Right-of-use assets

2.4

DKKbn

44%Properties

39%Vehicles

17%Other

2.6.2 Property and equipmentComprise mainly vehicles, production equipment and leasehold improvements.

In 2024, additions of DKK 355 million (2023: DKK 394 million) primarily related to equipment for new and existing contracts, and leasehold improvements.

Right-of-use-assets

Property,

and

equipment

(DKKm)

Properties

Vehicles

Other

Total

2024

Carrying amount at 1 January

1,116

691

393

2,200

926

FX adjustments

3

(3)

(16)

(16)

(7)

Hyperinflation restatement

2

13

54

69

42

Additions

320

612

145

1,077

355

Acquisitions/divestments, net

5

3

2

10

32

Disposals

-

-

-

-

(11)

Depreciation

(376)

(376)

(164)

(916)

(329)

Reclass

-

-

-

-

(10)

Carrying amount at 31 December

1,070

940

414

2,424

998

Cost

2,613

1,614

816

5,043

3,375

Accumulated depreciation and impairment

(1,543)

(674)

(402)

(2,619)

(2,377)

Carrying amount at 31 December

1,070

940

414

2,424

998

2023

Carrying amount at 1 January

1,385

639

379

2,403

917

FX adjustments

9

(1)

(46)

(38)

(33)

Hyperinflation restatement

2

13

53

68

47

Additions

258

440

210

908

394

Acquisitions/divestments, net

(5)

(4)

-

(9)

2

Disposals

-

-

-

-

(16)

Depreciation

(392)

(355)

(159)

(906)

(347)

Impairment

(141)

(36)

(33)

(210)

(38)

Reclass to Assets held for sale

-

(5)

(11)

(16)

-

Carrying amount at 31 December

1,116

691

393

2,200

926

Cost

2,515

1,451

735

4,701

3,148

Accumulated depreciation and impairment

(1,399)

(760)

(342)

(2,501)

(2,222)

Carrying amount at 31 December

1,116

691

393

2,200

926

Accounting judgements

Lease termThe majority of the Group\u2019s lease contracts for HQ office buildings contain extension options, and additionally a few have no contractual fixed term. This contract structure, which combines fixed term with extension options, is essential to the Group to ensure the right balance of stability and efficiency, while at the same time securing flexibility to adjust based on future business needs.

Management exercises judgement in determining the lease term, including whether extension options are reasonably certain to be exercised. All relevant facts and circumstances are considered, including whether these create an economic incentive for the Group to exercise an option or not:

Strategic and operational development of the ISS business in the specific country, including management\u2019s expectations for organic growth, acquisitions, divestments and restructurings

Suitableness of the location in the longer term

Development in market prices in the specific geographic area

The property\u2019s condition, including significant leasehold improvements undertaken or expected to be undertaken

Termination-related costs, such as penalties, obligations to restore the facility, relocation costs and potential business disruption

Historical length of occupying similar buildings

If the term cannot be reasonably determined, the term for HQ office building contracts without an end date is set to 10 years based on the Group\u2019s past experience.

Management reassesses the lease term based on the above facts and circumstance, if significant changes or events occur, and revises the lease term if appropriate.

Accounting policy

Right-of-use assetsare recognised at the commencement 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. Estimated costs related to such liability are recognised as part of the cost of the 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.

Average lease term applied

Properties:

HQ office leases

10-12 years

Customer-specific leases (contract term)3-5 years

Vehicles

3-5 years

Other equipment

2-5 years

Depreciation methods, lease terms (including extension options) and residual values are reassessed at the reporting date.

The recognition exemption is applied for short-term leases (term of 12 months or less) and leases of low-value assets (e.g. minor cleaning and IT equipment and office furniture). Related lease payments are recognised in Other operating expenses on a straight-line basis over the lease term.

Property and equipmentis measured at cost, less accumulated depreciation and impairment losses.

Property and equipment is depreciated on a straight-line basis over the estimated useful lives of the assets.

Estimated useful life

Equipment

3-10 years

Leasehold improvements (lease term)

3-10 years

Buildings

20-40 years

Land

Not depreciated

Depreciation methods, useful lives and residual values are reassessed at the reporting date.

Gains and losses arising on the disposal or retirement of property 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

(DKKm)

Goodwill

Brands

Customer contracts

Software

Total

2024

Carrying amount at 1 January

19,696

1,589

934

1,053

23,272

FX adjustments

51

-

(34)

(4)

13

Hyperinflation restatement

339

-

164

3

506

Additions

-

-

-

277

277

Acquisitions/divestments, net

415

-

181

-

596

Amortisation

-

-

(91)

(224)

(315)

Reclass

-

-

-

10

10

Carrying amount at 31 December

20,501

1,589

1,154

1,115

24,359

Cost

21,751

1,673

9,067

3,207

35,698

Accumulated amortisation and impairment

(1,250)

(84)

(7,913)

(2,092)

(11,339)

Carrying amount at 31 December

20,501

1,589

1,154

1,115

24,359

2023

Carrying amount at 1 January

20,450

1,589

857

1,024

23,920

FX adjustments

(369)

-

(163)

(4)

(536)

Hyperinflation restatement

337

-

173

2

512

Additions

-

-

-

315

315

Acquisitions/divestments, net

215

-

136

-

351

Disposals

-

-

-

(1)

(1)

Amortisation

-

-

(69)

(211)

(280)

Impairment

(937)

-

-

(72)

(1,009)

Carrying amount at 31 December

19,696

1,589

934

1,053

23,272

Cost

20,943

1,669

8,728

2,943

34,283

Accumulated amortisation and impairment

(1,247)

(80)

(7,794)

(1,890)

(11,011)

Carrying amount at 31 December

19,696

1,589

934

1,053

23,272

Goodwill and customer contracts

In 2024, the Group\u2019s acquisitions added DKK 417 million to goodwill and DKK 181 million to customer contracts, see 3.3, Acquisitions. Furthermore, hyperinflation in T\u00fcrkiye added DKK 339 million to goodwill and DKK 164 million to customer contracts. Goodwill relates mainly to assembled workforce, technical expertise and know how, synergies and scale benefits as well as platform for growth.

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

Technology is a key enabler of the Group\u2019s strategy and an integrated part of our customer value propositions. Overall, the Group\u2019s software investments relate to 1) customer-facing solu-tions, 2) employee-facing solutions and 3) IT security. A significant part of our software is mandatory Group-managed solutions as we wish to harvest scale-benefits and ensure consistency across the Group. Our capitalised software is mainly owned \u2013 either \u201coff-the-shelf\u201d or solutions being fully or partially customised to ISS \u2013 whereas the remaining (mainly the most recent software solutions) relates to Software as a Service (SaaS solutions).

In 2024, additions amounted to DKK 277 million (2023: DKK 315 million) and software included DKK 136 million related to assets under development at Group level (2023: DKK 175 million).

Accounting judgements

Software as a Service (SaaS)Generally, the right to access a cloud provider\u2019s software does not give rise to an intangible asset because that right does not in itself give ISS control over the software asset. At the commencement date, management assesses whether the Group acquires an intangible asset, leases an asset or solely receives software as a service over the term of the contract.

If the Group receives a right to use cloud hosted software managed by a software provider without further rights or control, it is neither a lease nor an intangible asset and costs are expensed as the Group receives the SaaS. However, in some circumstances the Group may obtain control, which may be the case when:

a)ISS has the contractual right to take possession of the software during the hosting period without incurring significant costs;

b)ISS has the ability to use software separately without signifi-cant diminution in utility or value; and

c)It is feasible for ISS to run the software on its own hardware or contract with a party (unrelated to the cloud provider) to do so.

Capitalisation of configuration or customisation costsIn SaaS arrangements, capitalisation requires management\u2019s assessment of the nature of the activities performed and the output. Such activities would typically entail development of additional software code that enhances, modifies or creates additional capability. If activities performed result in the creation of a resource that the Group controls, such configuration and customisation costs are capitalised.

Accounting policy

Goodwilland brands (the ISS brand) with indefinite useful lives are not amortised but recognised at cost less accumulated impairment losses.

Acquisition-related customer contractsare recognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.

Softwareis measured at cost less accumulated amortisation and impairment losses. The cost of software developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other development 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 life

Customer contracts

10-24 years

Software

3-10 years

Amortisation methods and useful lives are reassessed at the reporting date.

Software as a Service (SaaS) arrangementsare service contracts providing the Group with the right to use cloud hosted software managed by the software provider over the contract term.

Generally, costs related to SaaS are expensed as incurred in Operating expenses, including cloud-hosting fees, software licenses, internal costs to select a cloud provider as well as data conversion, training and testing costs.

Certain costs related to configuration and customisation activities may be capitalised as an intangible asset if they meet the recognition criteria, see Accounting judgements. Such assets are amortised over their useful lives when ready for use.

", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__79": { "value": "

2.6 Right-of-use assets, property and equipment

2.6.1 Right-of-use assetsAt 31 December 2024, ISS was party to around 18,600 (2023: 17,500) lease agreements of which the majority related to vehicles. In terms of value, the main part related to property leases which generally fall in two categories:

HQ office leases (Group headquarters in S\u00f8borg as well as HQ buildings and regional offices in each ISS Country)

Customer-specific property leases (offices, storage etc.)

In 2024, additions were DKK 1,077 million (2023: DKK 908 million). The increase was primarily attributable to new vehicle leases driven by lease cycle renewals, particularly in Germany, the UK, Belgium & Luxemburg and Finland. Also, new or extended property leases contributed, mainly in Finland and Sweden.

Lease-related costs recognised in profit or loss

(DKKm)

2024

2023

Depreciation of right-of-use assets

916

879

Leases of low-value assets

120

138

Short-term leases

104

49

Variable lease payments

8

7

Other operating expenses

1,148

1,073

Interest expenses on lease liabilities

154

121

Finance costs

154

121

Hereof cash outflow

386

315

Lease liabilities In 2024, total cash outflow for leases was DKK 1,349 million (2023: DKK 1,106 million).

For the carrying amount of lease liabilities and maturity, see 4.2.1, Borrowings and 4.5.1, Financial liabilities, respectively.

Leases not yet commencedFor the amount of leases not yet commenced is disclosed in 2.5.4, Commitments.

Right-of-use assets

2.4

DKKbn

44%Properties

39%Vehicles

17%Other

2.6.2 Property and equipmentComprise mainly vehicles, production equipment and leasehold improvements.

In 2024, additions of DKK 355 million (2023: DKK 394 million) primarily related to equipment for new and existing contracts, and leasehold improvements.

Right-of-use-assets

Property,

and

equipment

(DKKm)

Properties

Vehicles

Other

Total

2024

Carrying amount at 1 January

1,116

691

393

2,200

926

FX adjustments

3

(3)

(16)

(16)

(7)

Hyperinflation restatement

2

13

54

69

42

Additions

320

612

145

1,077

355

Acquisitions/divestments, net

5

3

2

10

32

Disposals

-

-

-

-

(11)

Depreciation

(376)

(376)

(164)

(916)

(329)

Reclass

-

-

-

-

(10)

Carrying amount at 31 December

1,070

940

414

2,424

998

Cost

2,613

1,614

816

5,043

3,375

Accumulated depreciation and impairment

(1,543)

(674)

(402)

(2,619)

(2,377)

Carrying amount at 31 December

1,070

940

414

2,424

998

2023

Carrying amount at 1 January

1,385

639

379

2,403

917

FX adjustments

9

(1)

(46)

(38)

(33)

Hyperinflation restatement

2

13

53

68

47

Additions

258

440

210

908

394

Acquisitions/divestments, net

(5)

(4)

-

(9)

2

Disposals

-

-

-

-

(16)

Depreciation

(392)

(355)

(159)

(906)

(347)

Impairment

(141)

(36)

(33)

(210)

(38)

Reclass to Assets held for sale

-

(5)

(11)

(16)

-

Carrying amount at 31 December

1,116

691

393

2,200

926

Cost

2,515

1,451

735

4,701

3,148

Accumulated depreciation and impairment

(1,399)

(760)

(342)

(2,501)

(2,222)

Carrying amount at 31 December

1,116

691

393

2,200

926

Accounting judgements

Lease termThe majority of the Group\u2019s lease contracts for HQ office buildings contain extension options, and additionally a few have no contractual fixed term. This contract structure, which combines fixed term with extension options, is essential to the Group to ensure the right balance of stability and efficiency, while at the same time securing flexibility to adjust based on future business needs.

Management exercises judgement in determining the lease term, including whether extension options are reasonably certain to be exercised. All relevant facts and circumstances are considered, including whether these create an economic incentive for the Group to exercise an option or not:

Strategic and operational development of the ISS business in the specific country, including management\u2019s expectations for organic growth, acquisitions, divestments and restructurings

Suitableness of the location in the longer term

Development in market prices in the specific geographic area

The property\u2019s condition, including significant leasehold improvements undertaken or expected to be undertaken

Termination-related costs, such as penalties, obligations to restore the facility, relocation costs and potential business disruption

Historical length of occupying similar buildings

If the term cannot be reasonably determined, the term for HQ office building contracts without an end date is set to 10 years based on the Group\u2019s past experience.

Management reassesses the lease term based on the above facts and circumstance, if significant changes or events occur, and revises the lease term if appropriate.

Accounting policy

Right-of-use assetsare recognised at the commencement 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. Estimated costs related to such liability are recognised as part of the cost of the 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.

Average lease term applied

Properties:

HQ office leases

10-12 years

Customer-specific leases (contract term)3-5 years

Vehicles

3-5 years

Other equipment

2-5 years

Depreciation methods, lease terms (including extension options) and residual values are reassessed at the reporting date.

The recognition exemption is applied for short-term leases (term of 12 months or less) and leases of low-value assets (e.g. minor cleaning and IT equipment and office furniture). Related lease payments are recognised in Other operating expenses on a straight-line basis over the lease term.

Property and equipmentis measured at cost, ", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__78-1": { "value": "

2.6.2 Property and equipmentComprise mainly vehicles, production equipment and leasehold improvements.

In 2024, additions of DKK 355 million (2023: DKK 394 million) primarily related to equipment for new and existing contracts, and leasehold improvements.

Right-of-use-assets

Property,

and

equipment

(DKKm)

Properties

Vehicles

Other

Total

2024

Carrying amount at 1 January

1,116

691

393

2,200

926

FX adjustments

3

(3)

(16)

(16)

(7)

Hyperinflation restatement

2

13

54

69

42

Additions

320

612

145

1,077

355

Acquisitions/divestments, net

5

3

2

10

32

Disposals

-

-

-

-

(11)

Depreciation

(376)

(376)

(164)

(916)

(329)

Reclass

-

-

-

-

(10)

Carrying amount at 31 December

1,070

940

414

2,424

998

Cost

2,613

1,614

816

5,043

3,375

Accumulated depreciation and impairment

(1,543)

(674)

(402)

(2,619)

(2,377)

Carrying amount at 31 December

1,070

940

414

2,424

998

2023

Carrying amount at 1 January

1,385

639

379

2,403

917

FX adjustments

9

(1)

(46)

(38)

(33)

Hyperinflation restatement

2

13

53

68

47

Additions

258

440

210

908

394

Acquisitions/divestments, net

(5)

(4)

-

(9)

2

Disposals

-

-

-

-

(16)

Depreciation

(392)

(355)

(159)

(906)

(347)

Impairment

(141)

(36)

(33)

(210)

(38)

Reclass to Assets held for sale

-

(5)

(11)

(16)

-

Carrying amount at 31 December

1,116

691

393

2,200

926

Cost

2,515

1,451

735

4,701

3,148

Accumulated depreciation and impairment

(1,399)

(760)

(342)

(2,501)

(2,222)

Carrying amount at 31 December

1,116

691

393

2,200

926

Property and equipmentis measured at cost, less accumulated depreciation and impairment losses.

Property and equipment is depreciated on a straight-line basis over the estimated useful lives of the assets.

Estimated useful life

Equipment

3-10 years

Leasehold improvements (lease term)

3-10 years

Buildings

20-40 years

Land

Not depreciated

Depreciation methods, useful lives and residual values are reassessed at the reporting date.

Gains and losses arising on the disposal or retirement of property 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__82": { "value": "

Accounting policy

Right-of-use assetsare recognised at the commencement 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. Estimated costs related to such liability are recognised as part of the cost of the 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.

Average lease term applied

Properties:

HQ office leases

10-12 years

Customer-specific leases (contract term)3-5 years

Vehicles

3-5 years

Other equipment

2-5 years

Depreciation methods, lease terms (including extension options) and residual values are reassessed at the reporting date.

The recognition exemption is applied for short-term leases (term of 12 months or less) and leases of low-value assets (e.g. minor cleaning and IT equipment and office furniture). Related lease payments are recognised in Other operating expenses on a straight-line basis over the lease term.

", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__83-1": { "value": "

Accounting policy

Right-of-use assetsare recognised at the commencement 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. Estimated costs related to such liability are recognised as part of the cost of the 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.

Average lease term applied

Properties:

HQ office leases

10-12 years

Customer-specific leases (contract term)3-5 years

Vehicles

3-5 years

Other equipment

2-5 years

Depreciation methods, lease terms (including extension options) and residual values are reassessed at the reporting date.

The recognition exemption is applied for short-term leases (term of 12 months or less) and leases of low-value assets (e.g. minor cleaning and IT equipment and office furniture). Related lease payments are recognised in Other operating expenses on a straight-line basis over the lease term.

Property and equipmentis measured at cost, less accumulated depreciation and impairment losses.

Property and equipment is depreciated on a straight-line basis over the estimated useful lives of the assets.

Estimated useful life

Equipment

3-10 years

Leasehold improvements (lease term)

3-10 years

Buildings

20-40 years

Land

Not depreciated

Depreciation methods, useful lives and residual values are reassessed at the reporting date.

Gains and losses arising on the disposal or retirement of property 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.

Acquisition-related customer contractsare recognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.

Softwareis measured at cost less accumulated amortisation and impairment losses. The cost of software developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other development 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 life

Customer contracts

10-24 years

Software

3-10 years

Amortisation methods and useful lives are reassessed at the reporting date.

", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__81": { "value": "

Property and equipmentis measured at cost, less accumulated depreciation and impairment losses.

Property and equipment is depreciated on a straight-line basis over the estimated useful lives of the assets.

Estimated useful life

Equipment

3-10 years

Leasehold improvements (lease term)

3-10 years

Buildings

20-40 years

Land

Not depreciated

Depreciation methods, useful lives and residual values are reassessed at the reporting date.

Gains and losses arising on the disposal or retirement of property 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__86": { "value": "

3.1 Intangible assets

(DKKm)

Goodwill

Brands

Customer contracts

Software

Total

2024

Carrying amount at 1 January

19,696

1,589

934

1,053

23,272

FX adjustments

51

-

(34)

(4)

13

Hyperinflation restatement

339

-

164

3

506

Additions

-

-

-

277

277

Acquisitions/divestments, net

415

-

181

-

596

Amortisation

-

-

(91)

(224)

(315)

Reclass

-

-

-

10

10

Carrying amount at 31 December

20,501

1,589

1,154

1,115

24,359

Cost

21,751

1,673

9,067

3,207

35,698

Accumulated amortisation and impairment

(1,250)

(84)

(7,913)

(2,092)

(11,339)

Carrying amount at 31 December

20,501

1,589

1,154

1,115

24,359

2023

Carrying amount at 1 January

20,450

1,589

857

1,024

23,920

FX adjustments

(369)

-

(163)

(4)

(536)

Hyperinflation restatement

337

-

173

2

512

Additions

-

-

-

315

315

Acquisitions/divestments, net

215

-

136

-

351

Disposals

-

-

-

(1)

(1)

Amortisation

-

-

(69)

(211)

(280)

Impairment

(937)

-

-

(72)

(1,009)

Carrying amount at 31 December

19,696

1,589

934

1,053

23,272

Cost

20,943

1,669

8,728

2,943

34,283

Accumulated amortisation and impairment

(1,247)

(80)

(7,794)

(1,890)

(11,011)

Carrying amount at 31 December

19,696

1,589

934

1,053

23,272

Goodwill and customer contracts

In 2024, the Group\u2019s acquisitions added DKK 417 million to goodwill and DKK 181 million to customer contracts, see 3.3, Acquisitions. Furthermore, hyperinflation in T\u00fcrkiye added DKK 339 million to goodwill and DKK 164 million to customer contracts. Goodwill relates mainly to assembled workforce, technical expertise and know how, synergies and scale benefits as well as platform for growth.

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

Technology is a key enabler of the Group\u2019s strategy and an integrated part of our customer value propositions. Overall, the Group\u2019s software investments relate to 1) customer-facing solu-tions, 2) employee-facing solutions and 3) IT security. A significant part of our software is mandatory Group-managed solutions as we wish to harvest scale-benefits and ensure consistency across the Group. Our capitalised software is mainly owned \u2013 either \u201coff-the-shelf\u201d or solutions being fully or partially customised to ISS \u2013 whereas the remaining (mainly the most recent software solutions) relates to Software as a Service (SaaS solutions).

In 2024, additions amounted to DKK 277 million (2023: DKK 315 million) and software included DKK 136 million related to assets under development at Group level (2023: DKK 175 million).

Accounting judgements

Software as a Service (SaaS)Generally, the right to access a cloud provider\u2019s software does not give rise to an intangible asset because that right does not in itself give ISS control over the software asset. At the commencement date, management assesses whether the Group acquires an intangible asset, leases an asset or solely receives software as a service over the term of the contract.

If the Group receives a right to use cloud hosted software managed by a software provider without further rights or control, it is neither a lease nor an intangible asset and costs are expensed as the Group receives the SaaS. However, in some circumstances the Group may obtain control, which may be the case when:

a)ISS has the contractual right to take possession of the software during the hosting period without incurring significant costs;

b)ISS has the ability to use software separately without signifi-cant diminution in utility or value; and

c)It is feasible for ISS to run the software on its own hardware or contract with a party (unrelated to the cloud provider) to do so.

Capitalisation of configuration or customisation costsIn SaaS arrangements, capitalisation requires management\u2019s assessment of the nature of the activities performed and the output. Such activities would typically entail development of additional software code that enhances, modifies or creates additional capability. If activities performed result in the creation of a resource that the Group controls, such configuration and customisation costs are capitalised.

Accounting policy

Goodwilland brands (the ISS brand) with indefinite useful lives are not amortised but recognised at cost less accumulated impairment losses.

Acquisition-related customer contractsare recognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.

Softwareis measured at cost less accumulated amortisation and impairment losses. The cost of software developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other development 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 life

Customer contracts

10-24 years

Software

3-10 years

Amortisation methods and useful lives are reassessed at the reporting date.

Software as a Service (SaaS) arrangementsare service contracts providing the Group with the right to use cloud hosted software managed by the software provider over the contract term.

Generally, costs related to SaaS are expensed as incurred in Operating expenses, including cloud-hosting fees, software licenses, internal costs to select a cloud provider as well as data conversion, training and testing costs.

Certain costs related to configuration and customisation activities may be capitalised as an intangible asset if they meet the recognition criteria, see Accounting judgements. Such assets are amortised over their useful lives when ready for use.

", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__87": { "value": "

3.1 Intangible assets

(DKKm)

Goodwill

Brands

Customer contracts

Software

Total

2024

Carrying amount at 1 January

19,696

1,589

934

1,053

23,272

FX adjustments

51

-

(34)

(4)

13

Hyperinflation restatement

339

-

164

3

506

Additions

-

-

-

277

277

Acquisitions/divestments, net

415

-

181

-

596

Amortisation

-

-

(91)

(224)

(315)

Reclass

-

-

-

10

10

Carrying amount at 31 December

20,501

1,589

1,154

1,115

24,359

Cost

21,751

1,673

9,067

3,207

35,698

Accumulated amortisation and impairment

(1,250)

(84)

(7,913)

(2,092)

(11,339)

Carrying amount at 31 December

20,501

1,589

1,154

1,115

24,359

2023

Carrying amount at 1 January

20,450

1,589

857

1,024

23,920

FX adjustments

(369)

-

(163)

(4)

(536)

Hyperinflation restatement

337

-

173

2

512

Additions

-

-

-

315

315

Acquisitions/divestments, net

215

-

136

-

351

Disposals

-

-

-

(1)

(1)

Amortisation

-

-

(69)

(211)

(280)

Impairment

(937)

-

-

(72)

(1,009)

Carrying amount at 31 December

19,696

1,589

934

1,053

23,272

Cost

20,943

1,669

8,728

2,943

34,283

Accumulated amortisation and impairment

(1,247)

(80)

(7,794)

(1,890)

(11,011)

Carrying amount at 31 December

19,696

1,589

934

1,053

23,272

Goodwill and customer contracts

In 2024, the Group\u2019s acquisitions added DKK 417 million to goodwill and DKK 181 million to customer contracts, see 3.3, Acquisitions. Furthermore, hyperinflation in T\u00fcrkiye added DKK 339 million to goodwill and DKK 164 million to customer contracts. Goodwill relates mainly to assembled workforce, technical expertise and know how, synergies and scale benefits as well as platform for growth.

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

Technology is a key enabler of the Group\u2019s strategy and an integrated part of our customer value propositions. Overall, the Group\u2019s software investments relate to 1) customer-facing solu-tions, 2) employee-facing solutions and 3) IT security. A significant part of our software is mandatory Group-managed solutions as we wish to harvest scale-benefits and ensure consistency across the Group. Our capitalised software is mainly owned \u2013 either \u201coff-the-shelf\u201d or solutions being fully or partially customised to ISS \u2013 whereas the remaining (mainly the most recent software solutions) relates to Software as a Service (SaaS solutions).

In 2024, additions amounted to DKK 277 million (2023: DKK 315 million) and software included DKK 136 million related to assets under development at Group level (2023: DKK 175 million).

Accounting judgements

Software as a Service (SaaS)Generally, the right to access a cloud provider\u2019s software does not give rise to an intangible asset because that right does not in itself give ISS control over the software asset. At the commencement date, management assesses whether the Group acquires an intangible asset, leases an asset or solely receives software as a service over the term of the contract.

If the Group receives a right to use cloud hosted software managed by a software provider without further rights or control, it is neither a lease nor an intangible asset and costs are expensed as the Group receives the SaaS. However, in some circumstances the Group may obtain control, which may be the case when:

a)ISS has the contractual right to take possession of the software during the hosting period without incurring significant costs;

b)ISS has the ability to use software separately without signifi-cant diminution in utility or value; and

c)It is feasible for ISS to run the software on its own hardware or contract with a party (unrelated to the cloud provider) to do so.

Capitalisation of configuration or customisation costsIn SaaS arrangements, capitalisation requires management\u2019s assessment of the nature of the activities performed and the output. Such activities would typically entail development of additional software code that enhances, modifies or creates additional capability. If activities performed result in the creation of a resource that the Group controls, such configuration and customisation costs are capitalised.

Accounting policy

Goodwilland brands (the ISS brand) with indefinite useful lives are not amortised but recognised at cost less accumulated impairment losses.

Acquisition-related customer contractsare recognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.

Softwareis measured at cost less accumulated amortisation and impairment losses. The cost of software developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other development 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 life

Customer contracts

10-24 years

Software

3-10 years

Amortisation methods and useful lives are reassessed at the reporting date.

Software as a Service (SaaS) arrangementsare service contracts providing the Group with the right to use cloud hosted software managed by the software provider over the contract term.

Generally, costs related to SaaS are expensed as incurred in Operating expenses, including cloud-hosting fees, software licenses, internal costs to select a cloud provider as well as data conversion, training and testing costs.

Certain costs related to configuration and customisation activities may be capitalised as an intangible asset if they meet the recognition criteria, see Accounting judgements. Such assets are amortised over their useful lives when ready for use.

", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__88-1": { "value": "

3.1 Intangible assets

(DKKm)

Goodwill

Brands

Customer contracts

Software

Total

2024

Carrying amount at 1 January

19,696

1,589

934

1,053

23,272

FX adjustments

51

-

(34)

(4)

13

Hyperinflation restatement

339

-

164

3

506

Additions

-

-

-

277

277

Acquisitions/divestments, net

415

-

181

-

596

Amortisation

-

-

(91)

(224)

(315)

Reclass

-

-

-

10

10

Carrying amount at 31 December

20,501

1,589

1,154

1,115

24,359

Cost

21,751

1,673

9,067

3,207

35,698

Accumulated amortisation and impairment

(1,250)

(84)

(7,913)

(2,092)

(11,339)

Carrying amount at 31 December

20,501

1,589

1,154

1,115

24,359

2023

Carrying amount at 1 January

20,450

1,589

857

1,024

23,920

FX adjustments

(369)

-

(163)

(4)

(536)

Hyperinflation restatement

337

-

173

2

512

Additions

-

-

-

315

315

Acquisitions/divestments, net

215

-

136

-

351

Disposals

-

-

-

(1)

(1)

Amortisation

-

-

(69)

(211)

(280)

Impairment

(937)

-

-

(72)

(1,009)

Carrying amount at 31 December

19,696

1,589

934

1,053

23,272

Cost

20,943

1,669

8,728

2,943

34,283

Accumulated amortisation and impairment

(1,247)

(80)

(7,794)

(1,890)

(11,011)

Carrying amount at 31 December

19,696

1,589

934

1,053

23,272

Goodwill and customer contracts

In 2024, the Group\u2019s acquisitions added DKK 417 million to goodwill and DKK 181 million to customer contracts, see 3.3, Acquisitions. Furthermore, hyperinflation in T\u00fcrkiye added DKK 339 million to goodwill and DKK 164 million to customer contracts. Goodwill relates mainly to assembled workforce, technical expertise and know how, synergies and scale benefits as well as platform for growth.

Accounting policy

Goodwilland brands (the ISS brand) with indefinite useful lives are not amortised but recognised at cost less accumulated impairment losses.

", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__89": { "value": "

Accounting policy

Goodwilland brands (the ISS brand) with indefinite useful lives are not amortised but recognised at cost less accumulated impairment losses.

Acquisition-related customer contractsare recognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.

Softwareis measured at cost less accumulated amortisation and impairment losses. The cost of software developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other development 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 life

Customer contracts

10-24 years

Software

3-10 years

Amortisation methods and useful lives are reassessed at the reporting date.

Software as a Service (SaaS) arrangementsare service contracts providing the Group with the right to use cloud hosted software managed by the software provider over the contract term.

Generally, costs related to SaaS are expensed as incurred in Operating expenses, including cloud-hosting fees, software licenses, internal costs to select a cloud provider as well as data conversion, training and testing costs.

Certain costs related to configuration and customisation activities may be capitalised as an intangible asset if they meet the recognition criteria, see Accounting judgements. Such assets are amortised over their useful lives when ready for use.

", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__91": { "value": "

Accounting policy

Goodwilland brands (the ISS brand) with indefinite useful lives are not amortised but recognised at cost less accumulated impairment losses.

", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__92": { "value": "

Acquisition-related customer contractsare recognised at fair value at the acquisition date and subsequently, at cost less accumulated amortisation and impairment losses.

Softwareis measured at cost less accumulated amortisation and impairment losses. The cost of software developed for internal use includes external costs to consultants and software as well as internal direct costs related to the development. Other development 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 life

Customer contracts

10-24 years

Software

3-10 years

Amortisation methods and useful lives are reassessed at the reporting date.

Software as a Service (SaaS) arrangementsare service contracts providing the Group with the right to use cloud hosted software managed by the software provider over the contract term.

Generally, costs related to SaaS are expensed as incurred in Operating expenses, including cloud-hosting fees, software licenses, internal costs to select a cloud provider as well as data conversion, training and testing costs.

Certain costs related to configuration and customisation activities may be capitalised as an intangible asset if they meet the recognition criteria, see Accounting judgements. Such assets are amortised over their useful lives when ready for use.

", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__94": { "value": "

3.2 Impairment tests

3.2.1 Impairment test resultsThe impairment tests of goodwill and customer contracts performed at 31 December 2024 did not result in recognition of impairment losses (2023: no impairment losses).

In the majority of the Group\u2019s CGUs, excess values increased in 2024 due to improved financial results leading to higher finan-cial forecasts, which was only partially offset by broad-based increases in discount rates.

It is management\u2019s view that excess values in the Group\u2019s CGUs, including in T\u00fcrkiye, are fairly resilient to any likely and reasonable deteriorations in the key assumptions applied, see sensitivity analyses in 3.2.2, Goodwill and customer contracts.

T\u00fcrkiye

In 2024, ISS T\u00fcrkiye continued to perform well in terms of revenue growth, operating margin and free cash flow despite the difficult macroeconomic environment with continued high inflation and increasing interest rates. However, due to the IAS 29 hyperinflation adjustments goodwill and customer contracts also continued to increase. At 31 December 2024, intangibles amounted to DKK 1.6 billion (2023: DKK 1.3 billion) of which DKK 1.4 billion (2023: DKK 1.0 billion) was attributable to hyperinfla-tion. The Group continued to apply a normalised WACC rate in the terminal period (in line with last year), as it is management\u2019s view that it is most appropriate given the circumstances.

Accounting estimates

In 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 CGU, 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.

In T\u00fcrkiye, as a result of the highly unusual macroeconomic situation, the normal Group methodology of applying a constant WACC rate in both the forecasting 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 applies a normalised WACC rate in the terminal period, while the WACC applied in the forecasting period is determined based on the normal Group methodology. Given the circumstances, it is management\u2019s view that this is more appropriate and leads to a more reasonable estimate of the value in use.

The outcome of the impairment test may vary significantly should the assumptions and estimates not be realised as expected and applied as basis for management\u2019s conclusion of whether impairment of a CGU has occurred.

Accounting policy

\"\"

The Group performs impairment test of goodwill and the ISS brand at the reporting date or when indications of impairment exist. Other non-current 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. Corporate costs for 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.

Impairment of goodwill is recognised in profit or loss in a separate line if the carrying amount of the CGU exceeds its estimated recoverable amount.

The carrying amount of goodwill is tested for impairment together with other non-current assets in the CGU to which goodwill is allocated.

Impairment of goodwill is not reversed. Impairment 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 determined, net of depreciation and amortisation, if no impairment loss had been recognised.

Management believes that the value of the ISS brandsupports 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.

3.2.3 Cash-generating units (CGUs)Consistent with the Group\u2019s management and reporting structure, the lowest level of CGUs is 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 (goodwill and customer contracts) are allocated to these.

For a few countries, management has been combined to take advantage of similarities in terms of markets, shared customers and cost synergies. In these exceptional cases, the countries are regarded as one CGU when performing the impairment test.

Forecasting period

Terminal period

Carrying amount

Growth

Margin 1)

Growth

Margin 1)

Discount rate

(DKKm)

Goodwill

Customer contracts

Total

Avg.

Allowed decrease

Avg.

Allowed decrease

Rate

Allowed decrease

Rate

Allowed decrease

Net of tax

Allowed increase

Pre-tax

2024

UK & Ireland

2,737

79

2,816

5.1%

>5.1%

5.2%

>5.2%

2.5%

>2.5%

5.5%

3.0%

11.7%

6.1%

15.2%

US & Canada

2,262

125

2,387

4.5%

>4.5%

5.4%

>5.4%

3.0%

>3.0%

6.0%

3.7%

11.3%

8.8%

14.5%

Switzerland

1,904

252

2,156

1.2%

>1.2%

8.0%

>8.0%

1.5%

>1.5%

8.0%

7.6%

6.2%

>6.2%

7.4%

Finland

2,104

-

2,104

2.9%

>2.9%

6.4%

>6.4%

2.5%

> 2.5%

6.4%

2.6%

8.6%

2.9%

10.4%

Denmark

1,620

-

1,620

1.3%

>1.3%

5.8%

>5.8%

2.0%

>2.0%

6.0%

3.5%

8.5%

5.6%

10.6%

T\u00fcrkiye 2)

1,101

509

1,610

25.3%

17.9%

7.9%

>7.9%

10.0%

>10.0%

8.0%

5.4%

36.3%

10.2%

42.5%

Spain

1,278

161

1,439

3.9%

>3.9%

6.5%

>6.5%

2.5%

>2.5%

6.5%

4.4%

9.3%

7.8%

11.9%

Belgium & Lux.

1,385

22

1,407

3.0%

>3.0%

6.6%

>6.6%

2.5%

>2.5%

6.6%

3.7%

9.1%

5.4%

11.7%

Australia & NZ

1,244

-

1,244

3.0%

>3.0%

7.0%

>7.0%

3.0%

>3.0%

7.0%

7.0%

10.4%

>10.4%

14.2%

Norway

1,097

-

1,097

1.4%

>1.4%

8.0%

>8.0%

2.5%

>2.5%

8.0%

>8.0%

9.5%

>9.5%

11.8%

Other

3,769

6

3,775

Total

20,501

1,154

21,655

2023

UK & 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%

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%

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%

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%

T\u00fcrkiye 2)

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%

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%

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%

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%

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

1)Excluding allocated corporate costs.

2)Discount rate applied in the terminal period was 20.5%.

3.2.4 Determining value in useThe recoverable amount of each CGU is calculated 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 finan-cial forecasts for the following year as approved by management.

Generally, assumptions applied in the short to medium term (forecasting period of five years) reflect management\u2019s expec-tations considering all relevant factors, including the Group\u2019s strategic initiatives, local initiatives, past experience and exter-nal sources of information, where possible and relevant. This also includes expected development in local markets in terms of competition, inflation and growth.

Specifically, management has considered the expected impacts from the Group\u2019s updated strategic priorities from 2025 and onwards, especially increased investments in our commercial agenda, our people processes and in driving efficiencies in our overhead and service costs. Where relevant, initiated restruc-turings and other improvement initiatives, have also been taken into consideration when estimating the expected future performance and cash flows.

Management also assessed the impact from macroeconomic devel-opments, mainly inflation rates. In the year, the Group demonstrat-ed its continued ability to manage and mitigate wage increases and price increases in the supply chain, including activating indexation mechanisms in the customer contracts to increase prices.

Terminal period

Assumptions 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 normalised earnings level in the long term.

3.2.5 The ISS brandThe carrying amount of brands relates to the ISS brand and was DKK 1,589 million at 31 December 2024 (2023: DKK 1,589 million). In 2024, 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-cur-rent assets significantly exceed the carrying amount. This is addi-tionally supported by ISS\u2019s market capitalisation at 31 December 2024 of approximately DKK 24 billion exceeding the carrying amount of equity, which amounted to DKK 12 billion.

Key assumptions 1)

Revenue growth

Year 1

Financial forecasts as approved by management

Forecasting period (year 2-5)

Based on expected market development, including maturity and inflation

Impact from local and Group initiatives are considered, including key account focus

Terminal period

Long-term expectations based on external sources such as IMF \u201cWorld Economic Outlook\u201d, OECD, etc.

Not exceeding expected long-term average for the country, including inflation

Operating margin

Year 1

Financial forecasts as approved by management

Forecasting period (year 2-5)

Impact from Group initiatives are considered, including key account focus and in-vestments in our commercial agenda, our people processes and driving efficiencies in our overhead and service costs

Restructurings and local improvement initiatives are considered

Terminal period

Reflects the expected normalised earnings level in the long term

Discount rates (net of tax)

Risk-free interest rate based on 30-year government bonds (country-specific) where available, except that for T\u00fcrkiye a normalised interest rate is applied in the terminal period (see Accounting estimates). If 30-year bonds are not available for the given CGU, the rate is based on a 20-year or 10-year government bond

Country specific estimation risk premium added (to reflect possible variations in amounts/timing of the projected cash flows)

Equity risk premium: 5.5% (2023: 6.0%) 2)

Debt/equity target ratio (market values): 25/75 (2023: 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 5.0% is added (2023: 9.0%).

", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__95": { "value": "

Accounting policy

\"\"

The Group performs impairment test of goodwill and the ISS brand at the reporting date or when indications of impairment exist. Other non-current 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. Corporate costs for 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.

Impairment of goodwill is recognised in profit or loss in a separate line if the carrying amount of the CGU exceeds its estimated recoverable amount.

The carrying amount of goodwill is tested for impairment together with other non-current assets in the CGU to which goodwill is allocated.

Impairment of goodwill is not reversed. Impairment 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 determined, net of depreciation and amortisation, if no impairment loss had been recognised.

Management believes that the value of the ISS brandsupports 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__96": { "value": "

Accounting policy

\"\"

The Group performs impairment test of goodwill and the ISS brand at the reporting date or when indications of impairment exist. Other non-current 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. Corporate costs for 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.

Impairment of goodwill is recognised in profit or loss in a separate line if the carrying amount of the CGU exceeds its estimated recoverable amount.

The carrying amount of goodwill is tested for impairment together with other non-current assets in the CGU to which goodwill is allocated.

Impairment of goodwill is not reversed. Impairment 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 determined, net of depreciation and amortisation, if no impairment loss had been recognised.

Management believes that the value of the ISS brandsupports 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:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__97": { "value": "

3.3 Acquisitions

3.3.1 Acquisition impact

In line with the Group\u2019s normal procedure and due to the short time between completion of the acquisitions and finalisation of the consolidated financial statements, the acquisition accounting has not yet been completed. Thus, the fair value of certain assets and liabilities, such as customer contracts and trade receivables, are determined based on management\u2019s best estimates as the necessary analyses and calculations could not be completed.

gammaRenaxOn 25 April 2024, ISS acquired 100% of the shares in gam-maRenax AG. The acquisition strengthens our market position in Switzerland by adding scale within our existing core services as well as creating better density across the country and growth in our prioritised customer segments.

Goodwill is attributable mainly to: 1) platform for growth, 2) synergies and scale benefits and 3) assembled workforce.

Grupo BN On 10 September 2024, ISS acquired 100% of the shares in Grupo BN. The acquisition strengthens our market position in Spain and has a strong strategic fit. It enables us to expand our cleaning ser-vices thus supporting our global leadership in the cleaning sector.

Goodwill is attributable mainly to: 1) synergies and scale benefits and 2) assembled workforce.

BluebridgeOn 16 December 2024, ISS acquired 100% of the shares in Bluebridge in Belgium. The acquisition enables us to expand and develop our technical service offering.

Goodwill is attributable mainly to 1) expertise and know-how in technical services, 2) synergies and 3) assembled workforce.

Acquisitions completed in 2024

Company/activity

Country

Service

type

Interest

Consoli-dated

Revenue

since

completion

Annual

revenue

(DKKm) 1)

Employees

(number) 1)

Med-Serv

Austria

Cleaning

100%

February

53

69

226

gammaRenax

Switzerland

Cleaning

100%

April

395

590

1,800

Grupo BN

Spain

Cleaning

100%

September

117

309

2,300

Bluebridge

Belgium

Technical

100%

December

-

142

102

Vinca

Belgium

Technical

Activities

December

-

11

9

Total

565

1,121

4,437

1)Unaudited

Net assets and cash flow

(DKKm)

gamma-

Renax

Grupo

BN

Blue-bridge

Other/Prior

year adj.

2024

2023

Customer contracts

114

45

22

-

181

136

Other non-current assets

20

36

10

1

67

83

Trade receivables

74

110

28

10

222

200

Other current assets

78

10

14

11

113

205

Non-current liabilities

(41)

(109)

(20)

(10)

(180)

(86)

Current liabilities

(128)

(80)

(34)

(19)

(261)

(355)

Fair value of net assets

117

12

20

(7)

142

183

Goodwill

220

116

55

26

417

221

Consideration transferred

337

128

75

19

559

404

Cash in acquired business

(49)

(8)

(3)

(10)

(70)

(9)

Consideration transferred, net

288

120

72

9

489

395

Contingent and deferred consideration

17

(2)

-

6

21

(22)

Acquisition (cash flow)

305

118

72

15

510

373

3.3.2 Subsequent acquisitionsThe Group completed no acquisitions from 1 January to 15 February 2025.

3.3.3 Pro forma revenue/operating profitPro forma revenue was DKK 84,220 million and operating profit before other items was DKK 4,175 million, corresponding to adjustments of the reported amounts of DKK 459 million and DKK 32 million, respectively.

Accounting policy

\"\"

Business combinations (acquisitions)are accounted for using the acquisition method. The consideration transferred is measured at acquisition date fair value of net assets and any contingent consideration as well as the amount of any non-controlling interests in the acquiree. For each acquisition, 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 is classified as financial liabilities and presented in Other liabilities with changes in fair value recognised in Other income and expenses, net.

Depending on the size, complexity, and timing of the acquisition, uncertainties regarding identification or measurement of assets, liabilities and contingent liabilities may arise, and the 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 fair value of the net identifiable assets acquired. Subsequently, 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. Goodwill is not deductible for tax purposes.

Pro forma revenue and operating profit before other itemsinclude adjustments assuming that acquisitions/divestments were in-/excluded in/from profit or loss from 1 January. Estimates are made by local ISS management at the time of acquisition/divestment or actual results where available, and are based on unaudited financial information.

", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__98": { "value": "

Accounting policy

\"\"

Business combinations (acquisitions)are accounted for using the acquisition method. The consideration transferred is measured at acquisition date fair value of net assets and any contingent consideration as well as the amount of any non-controlling interests in the acquiree. For each acquisition, 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 is classified as financial liabilities and presented in Other liabilities with changes in fair value recognised in Other income and expenses, net.

Depending on the size, complexity, and timing of the acquisition, uncertainties regarding identification or measurement of assets, liabilities and contingent liabilities may arise, and the 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 fair value of the net identifiable assets acquired. Subsequently, 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. Goodwill is not deductible for tax purposes.

Pro forma revenue and operating profit before other itemsinclude adjustments assuming that acquisitions/divestments were in-/excluded in/from profit or loss from 1 January. Estimates are made by local ISS management at the time of acquisition/divestment or actual results where available, and are based on unaudited financial information.

", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__99": { "value": "

Accounting policy

\"\"

Business combinations (acquisitions)are accounted for using the acquisition method. The consideration transferred is measured at acquisition date fair value of net assets and any contingent consideration as well as the amount of any non-controlling interests in the acquiree. For each acquisition, 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 is classified as financial liabilities and presented in Other liabilities with changes in fair value recognised in Other income and expenses, net.

Depending on the size, complexity, and timing of the acquisition, uncertainties regarding identification or measurement of assets, liabilities and contingent liabilities may arise, and the 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 fair value of the net identifiable assets acquired. Subsequently, 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. Goodwill is not deductible for tax purposes.

Pro forma revenue and operating profit before other itemsinclude adjustments assuming that acquisitions/divestments were in-/excluded in/from profit or loss from 1 January. Estimates are made by local ISS management at the time of acquisition/divestment or actual results where available, and are based on unaudited financial information.

", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__100": { "value": "

3.4 Discontinued operations and divestments

3.4.1 Discontinued operationsOn 9 April 2024, the divestment of ISS France was completed, and consequently, at 31 December 2024 no businesses were classified as assets held for sale.

Net profit generated in ISS France up until the completion of the divestment is specified below. The preliminary divestment loss recognised in 2023 was reassessed on the basis of the final sales price and closing balance. This led to a negative adjustment of DKK 5 million recognised in Other income and expenses, net.

Profit or loss 1)

(DKKm)

Note

2024

2023

Revenue

665

2,662

Expenses

(703)

(2,816)

Operating profit before other items

(38)

(154)

Other income and expenses, net

(6)

(489)

Goodwill impairment

3.2

-

(937)

Operating profit

(44)

(1,580)

Finance income/(costs), net

(7)

(55)

Net profit before tax

(51)

(1,635)

Income tax

(1)

(17)

Net profit

(52)

(1,652)

1)Included France in 2024 (2023: Brunei and France).

Cash flows

(DKKm)

2024

2023

Operating activities

(62)

(44)

Investing activities

(323)

(2)

Financing activities

(48)

(41)

Earnings per share

(DKK)

2024

2023

Basic earnings per share

(0.3)

(8.9)

Diluted earnings per share

(0.3)

(8.8)

3.4.2 DivestmentsDivestments completed in 2024

Company/activity

Country

Service

type

Excluded

from P/L

Interest

Annual

revenue

(DKKm) 1)

Employees

(number) 1)

Ground Service

Austria

Other

March

100%

35

78

ISS France

France

Country exit

April

100%

2,658

14,925

Travel Management

Sweden

Other

April

100%

46

5

Total

2,739

15,008

1)Unaudited

Net assets and cash flow impact

(DKKm)

2024

2023

Goodwill

2

17

Other non-current assets

35

18

Current assets

883

59

Non-current liabilities

(111)

-

Borrowings

(260)

(5)

Current liabilities

(866)

(27)

Net assets disposed

(317)

62

Gain/(loss) on divestment, net 1)

(61)

(5)

Divestment costs

174

42

Consideration received

(204)

99

Cash in divested businesses

(263)

(23)

Consideration received, net

(467)

76

Contingent and deferred consideration

233

(4)

Divestment costs paid

(116)

(47)

Divestments (cash flow)

(350)

25

1)In addition, DKK 0 million (2023: DKK 18 million) was recognised in Other income and expenses, net related to recycling of accumulated FX adjustments on country exits.

Contingent and deferred considerationrelated to the divest-ment of ISS France, where part of the consideration is deferred up to three years from the date of divestment.

3.4.4 Subsequent divestmentsNo divestments were completed from 1 January to 15 February 2025.

Accounting policy

\"\"

A disposal group is presented as discontinued operationsif it is a geographical area, i.e. a CGU (country), that either has been disposed of, or is classified as held for sale.

The classification as discontinued operations is assessed based on several factors; quantitative and qualitative. Overall, it is assessed whether the disposal group represents a component of an entity (i.e. a CGU), which in ISS is defined as a country. Further, it is assessed whether the classification is significant for understanding the financial performance of the Group\u2019s continuing operations. For a single country, the assessment of significant is made separately for that country. However, in case of a coordinated strategic plan to dispose of several businesses (CGUs), the assessment of significant is made for these countries as a whole.

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 included in cash flow from operating, investing and financing activities together with cash flows from continuing operations, but separately specified in 3.4, Discontinued operations and divestments.

DivestmentsGain or loss on disposal of an operation 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 components 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__102": { "value": "

3.4 Discontinued operations and divestments

3.4.1 Discontinued operationsOn 9 April 2024, the divestment of ISS France was completed, and consequently, at 31 December 2024 no businesses were classified as assets held for sale.

Net profit generated in ISS France up until the completion of the divestment is specified below. The preliminary divestment loss recognised in 2023 was reassessed on the basis of the final sales price and closing balance. This led to a negative adjustment of DKK 5 million recognised in Other income and expenses, net.

Profit or loss 1)

(DKKm)

Note

2024

2023

Revenue

665

2,662

Expenses

(703)

(2,816)

Operating profit before other items

(38)

(154)

Other income and expenses, net

(6)

(489)

Goodwill impairment

3.2

-

(937)

Operating profit

(44)

(1,580)

Finance income/(costs), net

(7)

(55)

Net profit before tax

(51)

(1,635)

Income tax

(1)

(17)

Net profit

(52)

(1,652)

1)Included France in 2024 (2023: Brunei and France).

Cash flows

(DKKm)

2024

2023

Operating activities

(62)

(44)

Investing activities

(323)

(2)

Financing activities

(48)

(41)

Earnings per share

(DKK)

2024

2023

Basic earnings per share

(0.3)

(8.9)

Diluted earnings per share

(0.3)

(8.8)

3.4.2 DivestmentsDivestments completed in 2024

Company/activity

Country

Service

type

Excluded

from P/L

Interest

Annual

revenue

(DKKm) 1)

Employees

(number) 1)

Ground Service

Austria

Other

March

100%

35

78

ISS France

France

Country exit

April

100%

2,658

14,925

Travel Management

Sweden

Other

April

100%

46

5

Total

2,739

15,008

1)Unaudited

Net assets and cash flow impact

(DKKm)

2024

2023

Goodwill

2

17

Other non-current assets

35

18

Current assets

883

59

Non-current liabilities

(111)

-

Borrowings

(260)

(5)

Current liabilities

(866)

(27)

Net assets disposed

(317)

62

Gain/(loss) on divestment, net 1)

(61)

(5)

Divestment costs

174

42

Consideration received

(204)

99

Cash in divested businesses

(263)

(23)

Consideration received, net

(467)

76

Contingent and deferred consideration

233

(4)

Divestment costs paid

(116)

(47)

Divestments (cash flow)

(350)

25

1)In addition, DKK 0 million (2023: DKK 18 million) was recognised in Other income and expenses, net related to recycling of accumulated FX adjustments on country exits.

Contingent and deferred considerationrelated to the divest-ment of ISS France, where part of the consideration is deferred up to three years from the date of divestment.

3.4.4 Subsequent divestmentsNo divestments were completed from 1 January to 15 February 2025.

Accounting policy

\"\"

A disposal group is presented as discontinued operationsif it is a geographical area, i.e. a CGU (country), that either has been disposed of, or is classified as held for sale.

The classification as discontinued operations is assessed based on several factors; quantitative and qualitative. Overall, it is assessed whether the disposal group represents a component of an entity (i.e. a CGU), which in ISS is defined as a country. Further, it is assessed whether the classification is significant for understanding the financial performance of the Group\u2019s continuing operations. For a single country, the assessment of significant is made separately for that country. However, in case of a coordinated strategic plan to dispose of several businesses (CGUs), the assessment of significant is made for these countries as a whole.

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 included in cash flow from operating, investing and financing activities together with cash flows from continuing operations, but separately specified in 3.4, Discontinued operations and divestments.

DivestmentsGain or loss on disposal of an operation 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 components of equity, while any resultant gain or loss is recognised in Other income and expenses, net.

", "dimensions": { "concept": "ifrs-full:DisclosureOfDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__105": { "value": "

3.4.2 DivestmentsDivestments completed in 2024

Company/activity

Country

Service

type

Excluded

from P/L

Interest

Annual

revenue

(DKKm) 1)

Employees

(number) 1)

Ground Service

Austria

Other

March

100%

35

78

ISS France

France

Country exit

April

100%

2,658

14,925

Travel Management

Sweden

Other

April

100%

46

5

Total

2,739

15,008

1)Unaudited

Net assets and cash flow impact

(DKKm)

2024

2023

Goodwill

2

17

Other non-current assets

35

18

Current assets

883

59

Non-current liabilities

(111)

-

Borrowings

(260)

(5)

Current liabilities

(866)

(27)

Net assets disposed

(317)

62

Gain/(loss) on divestment, net 1)

(61)

(5)

Divestment costs

174

42

Consideration received

(204)

99

Cash in divested businesses

(263)

(23)

Consideration received, net

(467)

76

Contingent and deferred consideration

233

(4)

Divestment costs paid

(116)

(47)

Divestments (cash flow)

(350)

25

1)In addition, DKK 0 million (2023: DKK 18 million) was recognised in Other income and expenses, net related to recycling of accumulated FX adjustments on country exits.

Contingent and deferred considerationrelated to the divest-ment of ISS France, where part of the consideration is deferred up to three years from the date of divestment.

", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__101": { "value": "

Accounting policy

\"\"

A disposal group is presented as discontinued operationsif it is a geographical area, i.e. a CGU (country), that either has been disposed of, or is classified as held for sale.

The classification as discontinued operations is assessed based on several factors; quantitative and qualitative. Overall, it is assessed whether the disposal group represents a component of an entity (i.e. a CGU), which in ISS is defined as a country. Further, it is assessed whether the classification is significant for understanding the financial performance of the Group\u2019s continuing operations. For a single country, the assessment of significant is made separately for that country. However, in case of a coordinated strategic plan to dispose of several businesses (CGUs), the assessment of significant is made for these countries as a whole.

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 included in cash flow from operating, investing and financing activities together with cash flows from continuing operations, but separately specified in 3.4, Discontinued operations and divestments.

DivestmentsGain or loss on disposal of an operation 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 components 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__103": { "value": "

Accounting policy

\"\"

A disposal group is presented as discontinued operationsif it is a geographical area, i.e. a CGU (country), that either has been disposed of, or is classified as held for sale.

The classification as discontinued operations is assessed based on several factors; quantitative and qualitative. Overall, it is assessed whether the disposal group represents a component of an entity (i.e. a CGU), which in ISS is defined as a country. Further, it is assessed whether the classification is significant for understanding the financial performance of the Group\u2019s continuing operations. For a single country, the assessment of significant is made separately for that country. However, in case of a coordinated strategic plan to dispose of several businesses (CGUs), the assessment of significant is made for these countries as a whole.

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 included in cash flow from operating, investing and financing activities together with cash flows from continuing operations, but separately specified in 3.4, Discontinued operations and divestments.

DivestmentsGain or loss on disposal of an operation 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 components 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__106": { "value": "

4.1 Equity

4.1.1 Share capital and share premiumAt 31 December 2024, ISS\u2019s share capital comprised a total of DKK 185,668,226 shares (2023: 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.

Share premium included in retained earnings at 31 December 2024 amounted to DKK 19,168 million (2023: DKK 19,168 million).

4.1.2 Treasury shares

(DKKm)

Purchase price

Number

2024

At 1 January

66

331,906

Settlement of vested PSUs/RSUs

(79)

(624,352)

Purchased

1,217

9,512,211

At 31 December

1,204

9,219,765

2023

At 1 January

185

938,343

Settlement of vested PSUs/RSUs

(122)

(623,774)

Purchased

3

17,337

At 31 December

66

331,906

At 31 December 2024, ISS A/S owned a total of 9,219,765 treas-ury shares corresponding to 4.97% of the share capital.

Share buyback programmes2024 programmeOn 22 February 2024, ISS announced a share buyback pro-gramme, under which ISS would buy back own shares for a maximum consideration of DKK 1.0 billion over the 12 months period from 22 February 2024 to 19 February 2025. During 2024, due to the strong liquidity position and cash flow outlook, the programme was increased twice, bringing the total value of the programme to DKK 1.5 billion.

On 19 February 2025, ISS completed the programme as shares for a total consideration of DKK 1.5 billion had been repur-chased.

At the annual general meeting on 11 April 2025, the Board of Directors expects to propose a decrease of ISS A/S\u2019s share capital in accordance with the share buyback programme by cancellation of own shares.

2025 programmeThe Board of Directors has decided to initiate a new share buy-back programme under which ISS will buy back own shares for a maximum consideration of DKK 2.5 billion over a 12-months period from 20 February 2025 to 13 February 2026 at the lat-est, both days inclusive. The purpose of the share buyback pro-gramme is to reduce the share capital and to meet obligations arising from ISS\u2019s share-based incentive programmes (LTIP).

4.1.3 Translation reserve

(DKKm)

Hedging

Subsi-diaries

Total

2024

At 1 January

(269)

(1,008)

(1,277)

FX adjustments

-

306

306

At 31 December

(269)

(702)

(971)

2023

At 1 January

(185)

(969)

(1,154)

Hedging and FX adjustments

(84)

(39)

(123)

At 31 December

(269)

(1,008)

(1,277)

A specification of hedging and FX adjustments in the year is provided in 4.1.7, Other comprehensive income.

Hedging reserveThe hedging reserve comprises accumulated fair value ad-justments of net investment hedges in previous years. At 31 December 2024, the 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 \u2018000)

2024

2023

Average number of shares

185,668

185,668

Average number of treasury shares

(4,714)

(334)

Average number of shares (basic)

180,954

185,334

Average number of PSUs and RSUs

expected to vest

2,404

2,620

Average number of shares (diluted)

183,358

187,954

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 1,268,950 PSUs and RSUs (2023: 833,977) which are not expected to vest.

4.1.5 DividendsAt the annual general meeting to be held on 11 April 2025, the Board of Directors will propose a dividend for 2024 of DKK 3.1 per share of DKK 1 (2023: DKK 2.3 per share), equivalent to DKK 575 million and a pay-out ratio of 20% (2023: DKK 427 million/pay-out ratio: 20%). There are no tax consequences of proposed dividends for the Group.

In 2024, dividends paid, net of dividends on treasury shares, amounted to DKK 425 million (2023: DKK 390 million).

4.1.6 Non-controlling interestsThe Group\u2019s non-controlling interests predominantly 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 minor-ity shareholding of 10% in ISS T\u00fcrkiye.

The shareholders\u2019 agreement between ISS, Actera and man-agement 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

Attributable to owners of ISS A/S

(DKKm)

Note

Retained earnings

Translation reserve

Total

Non-

controlling

interest

Total

equity

2024

Defined benefit plans

Remeasurement (gain)/loss

7.1

(85)

-

(85)

(55)

(140)

Asset ceiling

7.1

(28)

-

(28)

-

(28)

FX adjustments

Subsidiaries

-

77

77

(71)

6

Hyperinflation, T\u00fcrkiye

-

229

229

248

477

Tax

Tax related to the items above

25

-

25

11

36

Total

(88)

306

218

133

351

2023

Defined benefit plans

Remeasurement (gain)/loss

7.1

(423)

-

(423)

(39)

(462)

Asset ceiling

7.1

299

-

299

-

299

FX adjustments

Subsidiaries

-

(330)

(330)

(148)

(478)

Recycling of accumulated FX adj., country exits

-

(18)

(18)

-

(18)

Hyperinflation, T\u00fcrkiye

-

309

309

158

467

Hedging

Fair value adj. of net investment hedges

-

(84)

(84)

-

(84)

Tax

Tax related to the items above

23

-

23

10

33

Total

(101)

(123)

(224)

(19)

(243)

Development in 2024In 2024, other comprehensive income was DKK 351 million, an in-crease of DKK 594 million compared to 2023. The increase mainly related to a positive impact from FX adjustments of subsidiaries primarily in T\u00fcrkiye and the UK partly offset by Switzerland.

Accounting policy

\"\"

Retained earningsis the Group\u2019s free reserves, which includes proposed dividends and share premium. Proposed dividends are recognised as a liability at the date when they are adopted at the annual general meeting. Share premium comprises amounts above the nominal share capital paid by shareholders when shares are issued by ISS A/S.

Treasury sharesThe cost of acquisition and proceeds from sale of treasury shares are recognised in reserve for treasury shares. Dividends received in relation to treasury shares are recognised in retained earnings.

Translation reservecomprises foreign exchange differences arising from the translation of financial statements of foreign entities with a functional currency other than DKK and from the translation of non-current balances which are considered part of the investment in foreign entities. Furthermore, fair value adjustments of net investment hedges and hyperinflation restatement are included. 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. 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__109": { "value": "

4.1.1 Share capital and share premiumAt 31 December 2024, ISS\u2019s share capital comprised a total of DKK 185,668,226 shares (2023: 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.

Share premium included in retained earnings at 31 December 2024 amounted to DKK 19,168 million (2023: DKK 19,168 million).

", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__110": { "value": "

4.1.2 Treasury shares

(DKKm)

Purchase price

Number

2024

At 1 January

66

331,906

Settlement of vested PSUs/RSUs

(79)

(624,352)

Purchased

1,217

9,512,211

At 31 December

1,204

9,219,765

2023

At 1 January

185

938,343

Settlement of vested PSUs/RSUs

(122)

(623,774)

Purchased

3

17,337

At 31 December

66

331,906

At 31 December 2024, ISS A/S owned a total of 9,219,765 treas-ury shares corresponding to 4.97% of the share capital.

Share buyback programmes2024 programmeOn 22 February 2024, ISS announced a share buyback pro-gramme, under which ISS would buy back own shares for a maximum consideration of DKK 1.0 billion over the 12 months period from 22 February 2024 to 19 February 2025. During 2024, due to the strong liquidity position and cash flow outlook, the programme was increased twice, bringing the total value of the programme to DKK 1.5 billion.

On 19 February 2025, ISS completed the programme as shares for a total consideration of DKK 1.5 billion had been repur-chased.

At the annual general meeting on 11 April 2025, the Board of Directors expects to propose a decrease of ISS A/S\u2019s share capital in accordance with the share buyback programme by cancellation of own shares.

2025 programmeThe Board of Directors has decided to initiate a new share buy-back programme under which ISS will buy back own shares for a maximum consideration of DKK 2.5 billion over a 12-months period from 20 February 2025 to 13 February 2026 at the lat-est, both days inclusive. The purpose of the share buyback pro-gramme is to reduce the share capital and to meet obligations arising from ISS\u2019s share-based incentive programmes (LTIP).

", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__111": { "value": "

4.1.3 Translation reserve

(DKKm)

Hedging

Subsi-diaries

Total

2024

At 1 January

(269)

(1,008)

(1,277)

FX adjustments

-

306

306

At 31 December

(269)

(702)

(971)

2023

At 1 January

(185)

(969)

(1,154)

Hedging and FX adjustments

(84)

(39)

(123)

At 31 December

(269)

(1,008)

(1,277)

A specification of hedging and FX adjustments in the year is provided in 4.1.7, Other comprehensive income.

Hedging reserveThe hedging reserve comprises accumulated fair value ad-justments of net investment hedges in previous years. At 31 December 2024, the 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__112": { "value": "

4.1.4 Earnings per share

(in \u2018000)

2024

2023

Average number of shares

185,668

185,668

Average number of treasury shares

(4,714)

(334)

Average number of shares (basic)

180,954

185,334

Average number of PSUs and RSUs

expected to vest

2,404

2,620

Average number of shares (diluted)

183,358

187,954

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 1,268,950 PSUs and RSUs (2023: 833,977) which are not expected to vest.

", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__113": { "value": "

4.1.5 DividendsAt the annual general meeting to be held on 11 April 2025, the Board of Directors will propose a dividend for 2024 of DKK 3.1 per share of DKK 1 (2023: DKK 2.3 per share), equivalent to DKK 575 million and a pay-out ratio of 20% (2023: DKK 427 million/pay-out ratio: 20%). There are no tax consequences of proposed dividends for the Group.

In 2024, dividends paid, net of dividends on treasury shares, amounted to DKK 425 million (2023: DKK 390 million).

", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__114": { "value": "3.1", "decimals": 1, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK/xbrli:shares" } }, "s8__8__114": { "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__7__115": { "value": "575000000.0", "decimals": -6, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:DKK" } }, "s8__8__115": { "value": "427000000.0", "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__7__116": { "value": "

4.1.6 Non-controlling interestsThe Group\u2019s non-controlling interests predominantly 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 minor-ity shareholding of 10% in ISS T\u00fcrkiye.

The shareholders\u2019 agreement between ISS, Actera and man-agement 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__107": { "value": "Retained earningsis the Group\u2019s free reserves, which includes proposed dividends and share premium. Proposed dividends are recognised as a liability at the date when they are adopted at the annual general meeting. Share premium comprises amounts above the nominal share capital paid by shareholders when shares are issued by ISS A/S. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__108": { "value": "Treasury sharesThe cost of acquisition and proceeds from sale of treasury shares are recognised in reserve for treasury shares. Dividends received in relation to treasury shares are recognised in retained earnings.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__119-1": { "value": "

4.2.1 Borrowings

(DKKm)

Note

2024

2023

Issued bonds

15,635

14,073

Lease liabilities

2,464

2,335

Bank loans

242

311

Borrowings

18,341

16,719

Non-current liabilities

13,584

13,427

Current liabilities

4,757

3,292

Borrowings

18,341

16,719

Cash and cash equivalents

(6,829)

(6,093)

Derivatives, net

2.2, 2.3

(32)

39

Securities

2.2

(140)

(117)

Net debt

11,340

10,548

Refinancing On 29 May 2024, ISS issued a 5-year bond with a principal amount of EUR 500 million and a coupon of 3.875%. The bond was issued under the Group\u2019s EUR 3 billion European Medium Term Note (EMTN) programme, which is listed on the Luxembourg Stock Exchange. The net proceeds were used for repayment of the Group\u2019s EUR 300 million EMTNs maturing in December 2024 as well as for general corporate purposes.

Financing feesAt 31 December 2024, accumulated financing fees recognised in borrowings amounted to DKK 80 million (2023: DKK 54 million). The increase compared to last year was due to financing fees of DKK 49 million (2023: DKK 26 million) being capitalised in relation to the bond issue in May 2024, partly offset by ordinary amortisation of DKK 23 million (2023: DKK 29 million) recognised in finance costs.

Fair value At 31 December 2024, the fair value of bonds was DKK 15,477 million (2023: DKK 13,474 million). 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 due to the use of quoted market inputs.

For the remaining borrowings, the fair values are not materially different from their carrying amounts due to their short-term nature.

Accounting policy

\"\"

Issued bondsand bank loansare 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 Finance costs over the term of the loan using the effective interest method.

Lease liabilitiesare initially recognised at the present value of the 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 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__121-1": { "value": "

4.2.1 Borrowings

(DKKm)

Note

2024

2023

Issued bonds

15,635

14,073

Lease liabilities

2,464

2,335

Bank loans

242

311

Borrowings

18,341

16,719

Non-current liabilities

13,584

13,427

Current liabilities

4,757

3,292

Borrowings

18,341

16,719

Cash and cash equivalents

(6,829)

(6,093)

Derivatives, net

2.2, 2.3

(32)

39

Securities

2.2

(140)

(117)

Net debt

11,340

10,548

Refinancing On 29 May 2024, ISS issued a 5-year bond with a principal amount of EUR 500 million and a coupon of 3.875%. The bond was issued under the Group\u2019s EUR 3 billion European Medium Term Note (EMTN) programme, which is listed on the Luxembourg Stock Exchange. The net proceeds were used for repayment of the Group\u2019s EUR 300 million EMTNs maturing in December 2024 as well as for general corporate purposes.

Financing feesAt 31 December 2024, accumulated financing fees recognised in borrowings amounted to DKK 80 million (2023: DKK 54 million). The increase compared to last year was due to financing fees of DKK 49 million (2023: DKK 26 million) being capitalised in relation to the bond issue in May 2024, partly offset by ordinary amortisation of DKK 23 million (2023: DKK 29 million) recognised in finance costs.

Fair value At 31 December 2024, the fair value of bonds was DKK 15,477 million (2023: DKK 13,474 million). 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 due to the use of quoted market inputs.

For the remaining borrowings, the fair values are not materially different from their carrying amounts due to their short-term nature.

Accounting policy

\"\"

Issued bondsand bank loansare 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 Finance costs over the term of the loan using the effective interest method.

Lease liabilitiesare initially recognised at the present value of the 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 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__124": { "value": "

4.2.1 Borrowings

(DKKm)

Note

2024

2023

Issued bonds

15,635

14,073

Lease liabilities

2,464

2,335

Bank loans

242

311

Borrowings

18,341

16,719

Non-current liabilities

13,584

13,427

Current liabilities

4,757

3,292

Borrowings

18,341

16,719

Cash and cash equivalents

(6,829)

(6,093)

Derivatives, net

2.2, 2.3

(32)

39

Securities

2.2

(140)

(117)

Net debt

11,340

10,548

Refinancing On 29 May 2024, ISS issued a 5-year bond with a principal amount of EUR 500 million and a coupon of 3.875%. The bond was issued under the Group\u2019s EUR 3 billion European Medium Term Note (EMTN) programme, which is listed on the Luxembourg Stock Exchange. The net proceeds were used for repayment of the Group\u2019s EUR 300 million EMTNs maturing in December 2024 as well as for general corporate purposes.

Financing feesAt 31 December 2024, accumulated financing fees recognised in borrowings amounted to DKK 80 million (2023: DKK 54 million). The increase compared to last year was due to financing fees of DKK 49 million (2023: DKK 26 million) being capitalised in relation to the bond issue in May 2024, partly offset by ordinary amortisation of DKK 23 million (2023: DKK 29 million) recognised in finance costs.

Fair value At 31 December 2024, the fair value of bonds was DKK 15,477 million (2023: DKK 13,474 million). 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 due to the use of quoted market inputs.

For the remaining 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__117-1": { "value": "

Fair value At 31 December 2024, the fair value of bonds was DKK 15,477 million (2023: DKK 13,474 million). 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 due to the use of quoted market inputs.

For the remaining borrowings, the fair values are not materially different from their carrying amounts due to their short-term nature.

4.2.3 Cash flow impact from changes in borrowings

(DKKm)

Note

Issued

bonds

Lease

liabilities

Bank

loans

Total

2024

At 1 January

14,073

2,335

311

16,719

FX adjustments

9

(13)

(8)

(12)

Cash flows

1,459

(963)

(259)

237

Acquisitions/divestments, net

-

11

89

100

Lease additions

2.6

-

1,077

-

1,077

Fair value adjustments

4.4

88

-

-

88

Other

6

17

109

132

At 31 December

15,635

2,464

242

18,341

2023

At 1 January

13,973

2,464

363

16,800

FX adjustments

31

(16)

(118)

(103)

Cash flows

-

(791)

(147)

(938)

Acquisitions/divestments, net

-

(9)

207

198

Lease additions

2.6

-

908

-

908

Fair 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

16,719

Fair value measurement and disclosureItems are measured at historical cost, except for plan assets un-der defined benefit plans, derivatives and contingent consider-ation 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 as-sessed that the fair values of cash and cash equivalents, trade receivables, 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 borrowings, including methods and assumptions used to estimate the fair value, are disclosed in 4.2.1, Borrowings.

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, either individually or combined. The deciding factor is whether the omission or misstatement could, individually or col-lectively, influence the economic decisions made by the primary users on the basis of the consolidated financial statements.

", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__118-1": { "value": "

Fair value At 31 December 2024, the fair value of bonds was DKK 15,477 million (2023: DKK 13,474 million). 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 due to the use of quoted market inputs.

For the remaining borrowings, the fair values are not materially different from their carrying amounts due to their short-term nature.

4.4.2 Fair value hedge

(DKKm)

Nominal

amount

Carrying

amount

Accumulated fair value adj.

Change

in FV

Interest rate swap

EUR 300 million

(15)

(15)

42

EMTNs 2025

EUR 500 million

3,711

15

(42)

Interest rate swaps

EUR 250 million

58

58

58

EMTNs 2029

EUR 500 million

3,735

(46)

(46)

At 31 December 2024, the Group had interest rate swap agree-ments with a total nominal amount of EUR 550 million whereby the Group receives a fixed rate interest and pays a variable interest rate on the nominal amount. The swaps hedge the exposure to fair value changes of the Group\u2019s fixed rate bond

and mature in 2025 and 2029, which equals the maturity of the bonds.

In 2024, DKK 12 million (income) was recognised in profit or loss related to the ineffective part of the interest rate swaps (2023: no ineffectiveness).

", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__125": { "value": "

4.2.2 Finance income and costs

(DKKm)

2024

2023

Interest income on cash and cash equivalents

216

98

Hedge ineffectiveness of interest rate swaps

12

-

Monetary gain on hyperinflation restatement

86

87

Finance income

314

185

Interest expenses on borrowings 1)

(506)

(356)

Interest expenses on lease liabilities 1)

(154)

(121)

Interest expenses on factoring 1)

(71)

(71)

Bank fees

(61)

(62)

Net interest on defined benefit obligations

(33)

(24)

Amortisation of financing fees (non-cash) 1)

(23)

(29)

Commitment fees

(8)

(16)

Other

(25)

(13)

Foreign exchange losses

(23)

(100)

Finance costs

(904)

(792)

1)The total interest expensed determined on an amortised cost basis was DKK 754 million (2023: DKK 577 million).

Interest income on cash and cash equivalentsThe increase compared to 2023 was mainly driven by interest income on the proceeds from the issued bond under the EMTN programme in May 2024 until repayment of the bond maturing in December 2024.

Monetary gain on hyperinflation restatementrelated to the adjustment for hyperinflation (IAS 29) in T\u00fcrkiye.

Interest expenses on borrowingscomprised mainly interest on issued bonds. The increase compared to 2023 was driven by issuance of new EMTNs in May 2024 and increased interest rates throughout 2024 of which DKK 65 million related to the interest rate swaps on part of the bonds.

Foreign exchange losseswere mainly driven by the unhedged TRY and EUR positions. The highest contributor was TRY, which remained unhedged due to high cost. The decrease compared to 2023 was driven by TRY which depreciated 11% against DKK in 2024 compared to 39% against DKK in 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__126": { "value": "

4.2.2 Finance income and costs

(DKKm)

2024

2023

Interest income on cash and cash equivalents

216

98

Hedge ineffectiveness of interest rate swaps

12

-

Monetary gain on hyperinflation restatement

86

87

Finance income

314

185

Interest expenses on borrowings 1)

(506)

(356)

Interest expenses on lease liabilities 1)

(154)

(121)

Interest expenses on factoring 1)

(71)

(71)

Bank fees

(61)

(62)

Net interest on defined benefit obligations

(33)

(24)

Amortisation of financing fees (non-cash) 1)

(23)

(29)

Commitment fees

(8)

(16)

Other

(25)

(13)

Foreign exchange losses

(23)

(100)

Finance costs

(904)

(792)

1)The total interest expensed determined on an amortised cost basis was DKK 754 million (2023: DKK 577 million).

Interest income on cash and cash equivalentsThe increase compared to 2023 was mainly driven by interest income on the proceeds from the issued bond under the EMTN programme in May 2024 until repayment of the bond maturing in December 2024.

Monetary gain on hyperinflation restatementrelated to the adjustment for hyperinflation (IAS 29) in T\u00fcrkiye.

Interest expenses on borrowingscomprised mainly interest on issued bonds. The increase compared to 2023 was driven by issuance of new EMTNs in May 2024 and increased interest rates throughout 2024 of which DKK 65 million related to the interest rate swaps on part of the bonds.

Foreign exchange losseswere mainly driven by the unhedged TRY and EUR positions. The highest contributor was TRY, which remained unhedged due to high cost. The decrease compared to 2023 was driven by TRY which depreciated 11% against DKK in 2024 compared to 39% against DKK in 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__127": { "value": "

4.2.2 Finance income and costs

(DKKm)

2024

2023

Interest income on cash and cash equivalents

216

98

Hedge ineffectiveness of interest rate swaps

12

-

Monetary gain on hyperinflation restatement

86

87

Finance income

314

185

Interest expenses on borrowings 1)

(506)

(356)

Interest expenses on lease liabilities 1)

(154)

(121)

Interest expenses on factoring 1)

(71)

(71)

Bank fees

(61)

(62)

Net interest on defined benefit obligations

(33)

(24)

Amortisation of financing fees (non-cash) 1)

(23)

(29)

Commitment fees

(8)

(16)

Other

(25)

(13)

Foreign exchange losses

(23)

(100)

Finance costs

(904)

(792)

1)The total interest expensed determined on an amortised cost basis was DKK 754 million (2023: DKK 577 million).

Interest income on cash and cash equivalentsThe increase compared to 2023 was mainly driven by interest income on the proceeds from the issued bond under the EMTN programme in May 2024 until repayment of the bond maturing in December 2024.

Monetary gain on hyperinflation restatementrelated to the adjustment for hyperinflation (IAS 29) in T\u00fcrkiye.

Interest expenses on borrowingscomprised mainly interest on issued bonds. The increase compared to 2023 was driven by issuance of new EMTNs in May 2024 and increased interest rates throughout 2024 of which DKK 65 million related to the interest rate swaps on part of the bonds.

Foreign exchange losseswere mainly driven by the unhedged TRY and EUR positions. The highest contributor was TRY, which remained unhedged due to high cost. The decrease compared to 2023 was driven by TRY which depreciated 11% against DKK in 2024 compared to 39% against DKK in 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__128": { "value": "

4.2.2 Finance income and costs

(DKKm)

2024

2023

Interest income on cash and cash equivalents

216

98

Hedge ineffectiveness of interest rate swaps

12

-

Monetary gain on hyperinflation restatement

86

87

Finance income

314

185

Interest expenses on borrowings 1)

(506)

(356)

Interest expenses on lease liabilities 1)

(154)

(121)

Interest expenses on factoring 1)

(71)

(71)

Bank fees

(61)

(62)

Net interest on defined benefit obligations

(33)

(24)

Amortisation of financing fees (non-cash) 1)

(23)

(29)

Commitment fees

(8)

(16)

Other

(25)

(13)

Foreign exchange losses

(23)

(100)

Finance costs

(904)

(792)

1)The total interest expensed determined on an amortised cost basis was DKK 754 million (2023: DKK 577 million).

Interest income on cash and cash equivalentsThe increase compared to 2023 was mainly driven by interest income on the proceeds from the issued bond under the EMTN programme in May 2024 until repayment of the bond maturing in December 2024.

Monetary gain on hyperinflation restatementrelated to the adjustment for hyperinflation (IAS 29) in T\u00fcrkiye.

Interest expenses on borrowingscomprised mainly interest on issued bonds. The increase compared to 2023 was driven by issuance of new EMTNs in May 2024 and increased interest rates throughout 2024 of which DKK 65 million related to the interest rate swaps on part of the bonds.

Foreign exchange losseswere mainly driven by the unhedged TRY and EUR positions. The highest contributor was TRY, which remained unhedged due to high cost. The decrease compared to 2023 was driven by TRY which depreciated 11% against DKK in 2024 compared to 39% against DKK in 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__129": { "value": "

4.2.2 Finance income and costs

(DKKm)

2024

2023

Interest income on cash and cash equivalents

216

98

Hedge ineffectiveness of interest rate swaps

12

-

Monetary gain on hyperinflation restatement

86

87

Finance income

314

185

Interest expenses on borrowings 1)

(506)

(356)

Interest expenses on lease liabilities 1)

(154)

(121)

Interest expenses on factoring 1)

(71)

(71)

Bank fees

(61)

(62)

Net interest on defined benefit obligations

(33)

(24)

Amortisation of financing fees (non-cash) 1)

(23)

(29)

Commitment fees

(8)

(16)

Other

(25)

(13)

Foreign exchange losses

(23)

(100)

Finance costs

(904)

(792)

1)The total interest expensed determined on an amortised cost basis was DKK 754 million (2023: DKK 577 million).

Interest income on cash and cash equivalentsThe increase compared to 2023 was mainly driven by interest income on the proceeds from the issued bond under the EMTN programme in May 2024 until repayment of the bond maturing in December 2024.

Monetary gain on hyperinflation restatementrelated to the adjustment for hyperinflation (IAS 29) in T\u00fcrkiye.

Interest expenses on borrowingscomprised mainly interest on issued bonds. The increase compared to 2023 was driven by issuance of new EMTNs in May 2024 and increased interest rates throughout 2024 of which DKK 65 million related to the interest rate swaps on part of the bonds.

Foreign exchange losseswere mainly driven by the unhedged TRY and EUR positions. The highest contributor was TRY, which remained unhedged due to high cost. The decrease compared to 2023 was driven by TRY which depreciated 11% against DKK in 2024 compared to 39% against DKK in 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__130": { "value": "

4.2.2 Finance income and costs

(DKKm)

2024

2023

Interest income on cash and cash equivalents

216

98

Hedge ineffectiveness of interest rate swaps

12

-

Monetary gain on hyperinflation restatement

86

87

Finance income

314

185

Interest expenses on borrowings 1)

(506)

(356)

Interest expenses on lease liabilities 1)

(154)

(121)

Interest expenses on factoring 1)

(71)

(71)

Bank fees

(61)

(62)

Net interest on defined benefit obligations

(33)

(24)

Amortisation of financing fees (non-cash) 1)

(23)

(29)

Commitment fees

(8)

(16)

Other

(25)

(13)

Foreign exchange losses

(23)

(100)

Finance costs

(904)

(792)

1)The total interest expensed determined on an amortised cost basis was DKK 754 million (2023: DKK 577 million).

Interest income on cash and cash equivalentsThe increase compared to 2023 was mainly driven by interest income on the proceeds from the issued bond under the EMTN programme in May 2024 until repayment of the bond maturing in December 2024.

Monetary gain on hyperinflation restatementrelated to the adjustment for hyperinflation (IAS 29) in T\u00fcrkiye.

Interest expenses on borrowingscomprised mainly interest on issued bonds. The increase compared to 2023 was driven by issuance of new EMTNs in May 2024 and increased interest rates throughout 2024 of which DKK 65 million related to the interest rate swaps on part of the bonds.

Foreign exchange losseswere mainly driven by the unhedged TRY and EUR positions. The highest contributor was TRY, which remained unhedged due to high cost. The decrease compared to 2023 was driven by TRY which depreciated 11% against DKK in 2024 compared to 39% against DKK in 2023.", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__123": { "value": "

Accounting policy

\"\"

Issued bondsand bank loansare 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 Finance costs over the term of the loan using the effective interest method.

", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__133-1": { "value": "

4.3 Financial risk management

The Group is exposed to a number of financial risks arising from its operating and financing activities, mainly interest rate risk, liquidity risk, currency risk and credit risk. It is manage-ment\u2019s assessment that the Group\u2019s exposure to these risks is low. The Group has not identified additional financial risk exposures in 2024 compared to 2023.

Financial risks are managed centrally by Group Treasury based on the Financial Policy, which is reviewed and approved annual-ly by the Board of Directors. Due to our decentralised business model, exposure to credit risk on trade receivables and expect-ed 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 specula-tive positions in the financial markets.

On an ongoing basis the Group considers whether the financial risk management approach appropriately addresses the risk exposures.

Risk assessmentThe Group\u2019s objectives and policies for measuring and man-aging risk exposure are explained in the respective notes. An overview of financial risks and impact assessment at 31 Decem-ber 2024 is provided in the table to the right.

Risk assessment at 31 December

Credit risk

\u2013 Low

Not past due on trade receivables is around 90% (aging analysis)

Expected credit losses on trade receivables are less than 2% of gross receivables (credit ratings)

The Group transacts only with financial institutions with a credit rating of at least A- (cash and cash equivalents)

Note 2.1

Interest rate risk

\u2013 Low

58% of the Group\u2019s gross debt carried fixed rates (2023: 65%)

Note 4.4

Liquidity risk

\u2013 Low

Diversified funding portfolio of debt (bonds and bank loans)

No financial covenants in our main Group facilities (certain covenants apply to the local loan facility in T\u00fcrkiye)

Revolving credit facility of EUR 900 million (established in 2023) maturing in 2029

Uncommitted facilities in place to ensure flexible and efficient liquidity management

Duration of gross debt is 2.1 years (2023: 2.1)

Note 4.5

Currency risk

\u2013 Low

The Group benefits from a natural hedge in having income, costs and investments in the same functional currency, country-by-country

98.3% of the bonds and bank loans denominated in EUR (2023: 97.7%)

Note 4.6

4.4 Interest rate risk

Interest rate risk\u2013 low exposure

Interest rate risk arises from the possibility that changes in interest rates will affect future cash flows or the fair value of financial instruments. Exposure relates to bank loans, bonds or interest rate swaps with floating interest rates.

Risk management policy

At least 50% of the Group\u2019s gross debt must carry fixed interest rates directly or through derivatives

Mitigation

The fixed/floating ratio is measured on a monthly basis

Interest rate swaps (fair value hedge) are used to manage the fixed/floating ratio on gross debt

4.4.1 Interest-bearing borrowings

2024

2023

(DKKm)

Maturity

Nominal

interest rate

Nominal

value

Carrying

amount

Carrying

amount

Issued bonds (fixed interest rate)

EMTNs (EUR 300 million)

2024

2.13%

-

-

2,237

EMTNs (EUR 500 million) 1)

2025

1.25%

3,729

3,711

3,660

EMTNs (EUR 500 million)

2026

0.88%

3,729

3,721

3,713

EMTNs (EUR 600 million)

2027

1.50%

4,474

4,468

4,463

EMTNs (EUR 500 million) 1)

2029

3.88%

3,729

3,735

-

15,661

15,635

14,073

Bank loans (floating interest rate)

Loan facility T\u00fcrkiye (TRY)

2026

TLFREF

52

51

97

Bank loans and overdrafts (Multi)

-

-

213

191

214

265

242

311

1)The carrying amount included the accumulated fair value adjustments at 31 December 2024 of the hedged items, see 4.4.2 below.

Interest rate sensitivityAn increase in relevant interest rates of 1%-point, with all other variables held constant, would have decreased net profit and equity by DKK 44 million (2023: DKK 26 million).

The estimate was based on the Group\u2019s floating rate borrow-ings, 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.

4.4.2 Fair value hedge

(DKKm)

Nominal

amount

Carrying

amount

Accumulated fair value adj.

Change

in FV

Interest rate swap

EUR 300 million

(15)

(15)

42

EMTNs 2025

EUR 500 million

3,711

15

(42)

Interest rate swaps

EUR 250 million

58

58

58

EMTNs 2029

EUR 500 million

3,735

(46)

(46)

At 31 December 2024, the Group had interest rate swap agree-ments with a total nominal amount of EUR 550 million whereby the Group receives a fixed rate interest and pays a variable interest rate on the nominal amount. The swaps hedge the exposure to fair value changes of the Group\u2019s fixed rate bond

and mature in 2025 and 2029, which equals the maturity of the bonds.

In 2024, DKK 12 million (income) was recognised in profit or loss related to the ineffective part of the interest rate swaps (2023: no ineffectiveness).

Accounting policy

\"\"

The Group\u2019s interest rate swaps qualifies as a fair value hedge as the risk being hedged is the possible change in the fair value of a recognised liability. 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 Finance income or Finance costs. The change in the fair value of the hedged item (the bond) attributable to the risk being hedged is recognised as part of the carrying amount of the hedged item and is also recognised in profit or loss under Finance income or Finance costs. The gain or loss relating to the ineffective portion is recognised in profit or loss under Finance income or Finance costs.

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 techniques 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 exposure

Liquidity 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

Maintain an appropriate level of short- and long-term liquidity reserves (liquid funds and committed credit facilities)

Maintain a smooth maturity profile in terms of different maturities

Maintain access to diversified funding sources

Maintain a duration of gross debt above 2 years

Mitigation

Raising capital is managed centrally by Group Treasury to ensure efficient liquidity management

Group Treasury monitors the risk of insufficient liquidity on a daily basis

Liquidity is transferred to/from ISS Global A/S, which operates as the Group\u2019s internal bank

For day-to-day liquidity management cash pools have been established in the majority of the local entities

No financial covenants in our main Group facilities (certain covenants apply to the local loan facility in T\u00fcrkiye)

4.5.1 Financial liabilitiesContractual maturities

(DKKm)

Carrying amount

Contractual cash flows

< 1

year

1-2

years

2-3

years

3-4

years

4-5

years

> 5

years

2024

Bonds and bank loans

15,877

16,859

4,256

3,984

4,683

145

3,791

-

Lease liabilities

2,464

2,792

939

676

461

291

166

259

Trade payables and other

4,486

4,486

4,486

-

-

-

-

-

Derivatives

19

19

19

-

-

-

-

-

Total financial liabilities

22,846

24,156

9,700

4,660

5,144

436

3,957

259

2023

Bonds 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

237

Trade 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

The contractual maturities of financial liabilities above are based on the undiscounted contractual cash flows, i.e. includ-ing 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 liabil-ities are mainly used to finance operating assets such as trade receivables and property and equipment.

Maturity profile\u2013 nominal values

The maturity profile of the Group\u2019s current financing, i.e. issued bonds, bank loans and committed bank facilities (excluding interest payments) is illustrated in the chart to the right.

DKKbn

Revolving Credit Facility (undrawn)

EMTNs/Bank loans

\"\"
\"\"
\"\"
\"\"

4.5.2 Liquidity reserves

(DKKm)

2024

2023

Cash and cash equivalents

6,829

6,093

Hereof restricted cash

(35)

(46)

Unused revolving credit facilities

6,712

6,708

Liquidity reserves

13,506

12,755

Not readily available

(751)

(686)

Readily available liquidity

12,755

12,069

Cash and cash equivalentreflects 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 cashDKK 35 million of the total cash and cash equivalents at 31 December 2024 was placed on blocked or restricted bank accounts due to legal cases or tax-related circumstances.

Unused revolving credit facilitiesThe Group has a EUR 900 million committed revolving credit facility maturing in June 2029 with a one year extension 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 2024, these amounted to DKK 4.2 billion of which DKK 0.0 billion was drawn (2023: DKK 3.9 billion of which DKK 0.1 billion was drawn).

Not readily availableCash is considered readily available 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 risk

Currency risk \u2013 low exposure

Currency risk arises from changes in exchange rates, and affects the Group\u2019s result, investments or value of financial instruments.

The Group\u2019s 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 funding and investments in subsidiaries.

Risk management policy

It is Group policy to pool funding activities centrally and fund investments in subsidiaries through a combination of intercompany loans and equity

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

Exposure to EUR is monitored but not hedged due to the fixed rate exchange policy between DKK/EUR

Currency risk on net investments are as a main policy not hedged

Mitigation

Currency swaps are used to hedge currency risk on borrowings (external), intercompany balances and long-term receivables (external)

Currency exposure on borrowings (external), intercompany balances and cash and cash equivalents is measured at least on a weekly basis

4.6.1 Borrowings

Sensitivity

(DKKm)

Currency

exposure

(nominal)

Currency swaps

(contractual)

Exposure,

net

Increase in FX

Profit or loss

Equity

2024

EUR/DKK

(13,310)

10,737

(2,573)

1%

(26)

(26)

TRY/DKK 1)

371

-

371

30%

45

111

USD/DKK

968

(1,215)

(247)

10%

(25)

(25)

Other/DKK

(429)

835

406

10%

41

41

Total

(12,400)

10,357

(2,043)

2023

EUR/DKK

(17,593)

8,104

(9,489)

1%

(95)

(95)

TRY/DKK 1)

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)

1)TRY is not hedged due to high costs of hedging.

Foreign currency sensitivityA change in relevant currencies, with all other variables held constant, would have impacted profit or loss and equity with the amounts above. The analysis is based on the Group\u2019s internal monitoring of currency exposure on borrowings, inter-company 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 adjust-ed for the translation effect related to receivables considered part of the net investment in T\u00fcrkiye.

Change in average FX rates

2024

2023

TRY

(29.6)%

(30.7)%

GBP

2.8%

(1.8)%

CHF

2.1%

3.4%

USD

(0.0)%

(2.7)%

AUD

(0.6)%

(6.7)%

NOK

(1.8)%

(11.4)%

SEK

0.5%

(7.2)%

HKD

0.3%

(2.7)%

EUR

0.1%

0.2%

( ) = Weakened against DKK

4.6.2 Translation riskImpact on profit or lossIn 2024, changes in average FX rates resulted in a decrease in Group revenue of DKK 587 million or 0.7% (2023: decrease of DKK 2,476 million or 3.4%) and a decrease of the Group\u2019s oper-ating profit before other items of DKK 73 million or 2.2% (2023: decrease of DKK 175 million or 5.9%), including the impact of hyperinflation in T\u00fcrkiye.

Excluding hyperinflation impact, changes in average FX rates resulted in a decrease in Group revenue of DKK 1,346 million or 1.7% (2023: decrease of DKK 2,320 million or 3.1%) and a decrease of the Group\u2019s operating profit before other items of DKK 109 million or 3.3% (2023: decrease of DKK 157 million or 5.3%).

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.

(DKKm)

Revenue

Operating profit

before other items

TRY

1,986

132

GBP

1,137

47

CHF

705

60

USD

662

32

AUD

502

43

NOK

373

31

SEK

311

20

HKD

242

16

EUR

239

14

Other

1,071

46

Total

7,228

441

", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__135-1": { "value": "

4.4 Interest rate risk

Interest rate risk\u2013 low exposure

Interest rate risk arises from the possibility that changes in interest rates will affect future cash flows or the fair value of financial instruments. Exposure relates to bank loans, bonds or interest rate swaps with floating interest rates.

Risk management policy

At least 50% of the Group\u2019s gross debt must carry fixed interest rates directly or through derivatives

Mitigation

The fixed/floating ratio is measured on a monthly basis

Interest rate swaps (fair value hedge) are used to manage the fixed/floating ratio on gross debt

4.4.1 Interest-bearing borrowings

2024

2023

(DKKm)

Maturity

Nominal

interest rate

Nominal

value

Carrying

amount

Carrying

amount

Issued bonds (fixed interest rate)

EMTNs (EUR 300 million)

2024

2.13%

-

-

2,237

EMTNs (EUR 500 million) 1)

2025

1.25%

3,729

3,711

3,660

EMTNs (EUR 500 million)

2026

0.88%

3,729

3,721

3,713

EMTNs (EUR 600 million)

2027

1.50%

4,474

4,468

4,463

EMTNs (EUR 500 million) 1)

2029

3.88%

3,729

3,735

-

15,661

15,635

14,073

Bank loans (floating interest rate)

Loan facility T\u00fcrkiye (TRY)

2026

TLFREF

52

51

97

Bank loans and overdrafts (Multi)

-

-

213

191

214

265

242

311

1)The carrying amount included the accumulated fair value adjustments at 31 December 2024 of the hedged items, see 4.4.2 below.

Interest rate sensitivityAn increase in relevant interest rates of 1%-point, with all other variables held constant, would have decreased net profit and equity by DKK 44 million (2023: DKK 26 million).

The estimate was based on the Group\u2019s floating rate borrow-ings, 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.

4.6 Currency risk

Currency risk \u2013 low exposure

Currency risk arises from changes in exchange rates, and affects the Group\u2019s result, investments or value of financial instruments.

The Group\u2019s 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 funding and investments in subsidiaries.

Risk management policy

It is Group policy to pool funding activities centrally and fund investments in subsidiaries through a combination of intercompany loans and equity

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

Exposure to EUR is monitored but not hedged due to the fixed rate exchange policy between DKK/EUR

Currency risk on net investments are as a main policy not hedged

Mitigation

Currency swaps are used to hedge currency risk on borrowings (external), intercompany balances and long-term receivables (external)

Currency exposure on borrowings (external), intercompany balances and cash and cash equivalents is measured at least on a weekly basis

4.6.1 Borrowings

Sensitivity

(DKKm)

Currency

exposure

(nominal)

Currency swaps

(contractual)

Exposure,

net

Increase in FX

Profit or loss

Equity

2024

EUR/DKK

(13,310)

10,737

(2,573)

1%

(26)

(26)

TRY/DKK 1)

371

-

371

30%

45

111

USD/DKK

968

(1,215)

(247)

10%

(25)

(25)

Other/DKK

(429)

835

406

10%

41

41

Total

(12,400)

10,357

(2,043)

2023

EUR/DKK

(17,593)

8,104

(9,489)

1%

(95)

(95)

TRY/DKK 1)

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)

1)TRY is not hedged due to high costs of hedging.

Foreign currency sensitivityA change in relevant currencies, with all other variables held constant, would have impacted profit or loss and equity with the amounts above. The analysis is based on the Group\u2019s internal monitoring of currency exposure on borrowings, inter-company 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 adjust-ed for the translation effect related to receivables considered part of the net investment in T\u00fcrkiye.

Change in average FX rates

2024

2023

TRY

(29.6)%

(30.7)%

GBP

2.8%

(1.8)%

CHF

2.1%

3.4%

USD

(0.0)%

(2.7)%

AUD

(0.6)%

(6.7)%

NOK

(1.8)%

(11.4)%

SEK

0.5%

(7.2)%

HKD

0.3%

(2.7)%

EUR

0.1%

0.2%

( ) = Weakened against DKK

4.6.2 Translation riskImpact on profit or lossIn 2024, changes in average FX rates resulted in a decrease in Group revenue of DKK 587 million or 0.7% (2023: decrease of DKK 2,476 million or 3.4%) and a decrease of the Group\u2019s oper-ating profit before other items of DKK 73 million or 2.2% (2023: decrease of DKK 175 million or 5.9%), including the impact of hyperinflation in T\u00fcrkiye.

Excluding hyperinflation impact, changes in average FX rates resulted in a decrease in Group revenue of DKK 1,346 million or 1.7% (2023: decrease of DKK 2,320 million or 3.1%) and a decrease of the Group\u2019s operating profit before other items of DKK 109 million or 3.3% (2023: decrease of DKK 157 million or 5.3%).

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.

(DKKm)

Revenue

Operating profit

before other items

TRY

1,986

132

GBP

1,137

47

CHF

705

60

USD

662

32

AUD

502

43

NOK

373

31

SEK

311

20

HKD

242

16

EUR

239

14

Other

1,071

46

Total

7,228

441

", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__137": { "value": "

4.4.2 Fair value hedge

(DKKm)

Nominal

amount

Carrying

amount

Accumulated fair value adj.

Change

in FV

Interest rate swap

EUR 300 million

(15)

(15)

42

EMTNs 2025

EUR 500 million

3,711

15

(42)

Interest rate swaps

EUR 250 million

58

58

58

EMTNs 2029

EUR 500 million

3,735

(46)

(46)

At 31 December 2024, the Group had interest rate swap agree-ments with a total nominal amount of EUR 550 million whereby the Group receives a fixed rate interest and pays a variable interest rate on the nominal amount. The swaps hedge the exposure to fair value changes of the Group\u2019s fixed rate bond

and mature in 2025 and 2029, which equals the maturity of the bonds.

In 2024, DKK 12 million (income) was recognised in profit or loss related to the ineffective part of the interest rate swaps (2023: no ineffectiveness).

", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__138": { "value": "

Accounting policy

\"\"

The Group\u2019s interest rate swaps qualifies as a fair value hedge as the risk being hedged is the possible change in the fair value of a recognised liability. 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 Finance income or Finance costs. The change in the fair value of the hedged item (the bond) attributable to the risk being hedged is recognised as part of the carrying amount of the hedged item and is also recognised in profit or loss under Finance income or Finance costs. The gain or loss relating to the ineffective portion is recognised in profit or loss under Finance income or Finance costs.

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 techniques 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__139": { "value": "

Accounting policy

\"\"

The Group\u2019s interest rate swaps qualifies as a fair value hedge as the risk being hedged is the possible change in the fair value of a recognised liability. 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 Finance income or Finance costs. The change in the fair value of the hedged item (the bond) attributable to the risk being hedged is recognised as part of the carrying amount of the hedged item and is also recognised in profit or loss under Finance income or Finance costs. The gain or loss relating to the ineffective portion is recognised in profit or loss under Finance income or Finance costs.

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 techniques 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__140": { "value": "

Accounting policy

\"\"

The Group\u2019s interest rate swaps qualifies as a fair value hedge as the risk being hedged is the possible change in the fair value of a recognised liability. 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 Finance income or Finance costs. The change in the fair value of the hedged item (the bond) attributable to the risk being hedged is recognised as part of the carrying amount of the hedged item and is also recognised in profit or loss under Finance income or Finance costs. The gain or loss relating to the ineffective portion is recognised in profit or loss under Finance income or Finance costs.

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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__142-1": { "value": "Fair value measurement takes current market data into account. The Group uses valuation techniques 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 disclosureItems are measured at historical cost, except for plan assets un-der defined benefit plans, derivatives and contingent consider-ation 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 as-sessed that the fair values of cash and cash equivalents, trade receivables, 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 borrowings, including methods and assumptions used to estimate the fair value, are disclosed in 4.2.1, Borrowings.

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, either individually or combined. The deciding factor is whether the omission or misstatement could, individually or col-lectively, influence the economic decisions made by the primary users on the basis of the consolidated financial statements.

", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__144": { "value": "

4.5 Liquidity risk

Liquidity risk \u2013 low exposure

Liquidity 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

Maintain an appropriate level of short- and long-term liquidity reserves (liquid funds and committed credit facilities)

Maintain a smooth maturity profile in terms of different maturities

Maintain access to diversified funding sources

Maintain a duration of gross debt above 2 years

Mitigation

Raising capital is managed centrally by Group Treasury to ensure efficient liquidity management

Group Treasury monitors the risk of insufficient liquidity on a daily basis

Liquidity is transferred to/from ISS Global A/S, which operates as the Group\u2019s internal bank

For day-to-day liquidity management cash pools have been established in the majority of the local entities

No financial covenants in our main Group facilities (certain covenants apply to the local loan facility in T\u00fcrkiye)

4.5.1 Financial liabilitiesContractual maturities

(DKKm)

Carrying amount

Contractual cash flows

< 1

year

1-2

years

2-3

years

3-4

years

4-5

years

> 5

years

2024

Bonds and bank loans

15,877

16,859

4,256

3,984

4,683

145

3,791

-

Lease liabilities

2,464

2,792

939

676

461

291

166

259

Trade payables and other

4,486

4,486

4,486

-

-

-

-

-

Derivatives

19

19

19

-

-

-

-

-

Total financial liabilities

22,846

24,156

9,700

4,660

5,144

436

3,957

259

2023

Bonds 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

237

Trade 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

The contractual maturities of financial liabilities above are based on the undiscounted contractual cash flows, i.e. includ-ing 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 liabil-ities are mainly used to finance operating assets such as trade receivables and property and equipment.

Maturity profile\u2013 nominal values

The maturity profile of the Group\u2019s current financing, i.e. issued bonds, bank loans and committed bank facilities (excluding interest payments) is illustrated in the chart to the right.

DKKbn

Revolving Credit Facility (undrawn)

EMTNs/Bank loans

\"\"
\"\"
\"\"
\"\"

4.5.2 Liquidity reserves

(DKKm)

2024

2023

Cash and cash equivalents

6,829

6,093

Hereof restricted cash

(35)

(46)

Unused revolving credit facilities

6,712

6,708

Liquidity reserves

13,506

12,755

Not readily available

(751)

(686)

Readily available liquidity

12,755

12,069

Cash and cash equivalentreflects 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 cashDKK 35 million of the total cash and cash equivalents at 31 December 2024 was placed on blocked or restricted bank accounts due to legal cases or tax-related circumstances.

Unused revolving credit facilitiesThe Group has a EUR 900 million committed revolving credit facility maturing in June 2029 with a one year extension 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 2024, these amounted to DKK 4.2 billion of which DKK 0.0 billion was drawn (2023: DKK 3.9 billion of which DKK 0.1 billion was drawn).

Not readily availableCash is considered readily available 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__145": { "value": "

4.5.2 Liquidity reserves

(DKKm)

2024

2023

Cash and cash equivalents

6,829

6,093

Hereof restricted cash

(35)

(46)

Unused revolving credit facilities

6,712

6,708

Liquidity reserves

13,506

12,755

Not readily available

(751)

(686)

Readily available liquidity

12,755

12,069

Cash and cash equivalentreflects 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 cashDKK 35 million of the total cash and cash equivalents at 31 December 2024 was placed on blocked or restricted bank accounts due to legal cases or tax-related circumstances.

Unused revolving credit facilitiesThe Group has a EUR 900 million committed revolving credit facility maturing in June 2029 with a one year extension 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 2024, these amounted to DKK 4.2 billion of which DKK 0.0 billion was drawn (2023: DKK 3.9 billion of which DKK 0.1 billion was drawn).

Not readily availableCash is considered readily available 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__146-1": { "value": "

4.5.2 Liquidity reserves

(DKKm)

2024

2023

Cash and cash equivalents

6,829

6,093

Hereof restricted cash

(35)

(46)

Unused revolving credit facilities

6,712

6,708

Liquidity reserves

13,506

12,755

Not readily available

(751)

(686)

Readily available liquidity

12,755

12,069

Restricted cashDKK 35 million of the total cash and cash equivalents at 31 December 2024 was placed on blocked or restricted bank accounts due to legal cases or tax-related circumstances. ", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__150": { "value": "

4.6.1 Borrowings

Sensitivity

(DKKm)

Currency

exposure

(nominal)

Currency swaps

(contractual)

Exposure,

net

Increase in FX

Profit or loss

Equity

2024

EUR/DKK

(13,310)

10,737

(2,573)

1%

(26)

(26)

TRY/DKK 1)

371

-

371

30%

45

111

USD/DKK

968

(1,215)

(247)

10%

(25)

(25)

Other/DKK

(429)

835

406

10%

41

41

Total

(12,400)

10,357

(2,043)

2023

EUR/DKK

(17,593)

8,104

(9,489)

1%

(95)

(95)

TRY/DKK 1)

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)

1)TRY is not hedged due to high costs of hedging.

Foreign currency sensitivityA change in relevant currencies, with all other variables held constant, would have impacted profit or loss and equity with the amounts above. The analysis is based on the Group\u2019s internal monitoring of currency exposure on borrowings, inter-company 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 adjust-ed for the translation effect related to receivables considered part of the net investment in T\u00fcrkiye.

Change in average FX rates

2024

2023

TRY

(29.6)%

(30.7)%

GBP

2.8%

(1.8)%

CHF

2.1%

3.4%

USD

(0.0)%

(2.7)%

AUD

(0.6)%

(6.7)%

NOK

(1.8)%

(11.4)%

SEK

0.5%

(7.2)%

HKD

0.3%

(2.7)%

EUR

0.1%

0.2%

( ) = Weakened against DKK

", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__151": { "value": "

5.1 Income tax

5.1.1 Tax expense and effective tax rate

Tax in profit or loss

(DKKm)

2024

2023

Current tax

658

487

Deferred tax

59

66

Prior year adjustments, net

(59)

1

Income tax

658

554

Effective tax rate

(DKKm)

2024

2023

Statutory income tax rate, Denmark

22.0 %

22.0 %

Foreign tax rate differential, net

0.4 %

0.0 %

Total

22.4 %

22.0 %

Non-tax-deductible expenses less non-taxable income

(1.3)%

1.0 %

Prior year adjustments, net

(1.8)%

0.0 %

Change in valuation of tax assets, net

(2.9)%

(3.9)%

Changes in tax rates

0.0 %

0.4 %

Hyperinflation

1.1 %

1.1 %

Other taxes

2.4 %

1.3 %

Effective tax rate

20.0 %

21.9 %

Development in 2024Income tax amounted to DKK 658 million (2023: DKK 554 million), resulting in an effective tax rate of 20.0% (2023: 21.9%). The effective tax rate was favourably influenced by interest limitation rules and release of valuation allowances on deferred tax assets in Germany, whereas hyperinflation adjustments (IAS 29) in T\u00fcrkiye impacted negatively.

Non-tax-deductible expenses less non-taxable incomecomprised various income and expenses. In 2024, the net position was driven mainly by the positive impact of interest limitation rules in Denmark.

Change in valuation of tax assets, netrelated mainly to release of valuation allowance on tax losses in Germany due to expected improvements in future profitability (2023: Netherlands and Germany).

Hyperinflation related to the hyperinflation adjustment in T\u00fcrkiye.

Other taxesmainly comprised withholding tax, e.g. in Denmark.

OECD Pillar Two

The Group is subject to the OECD Pillar Two rules, which aim to ensure that multinational enterprises (MNEs) pay a minimum level of tax. Denmark, where ISS A/S is incorporated, has enacted Pillar Two legislation, which took effect on 1 January 2024. The Group applies the IAS 12 exception, allowing it to avoid recognising or disclosing deferred tax assets and liabilities related to Pillar Two income taxes.

Under the new legislation, the Group will be obligated to pay a top-up tax for any subsidiary that does not meet the Pillar Two minimum effective tax rate of 15%. However, the new rules include a set of \u201cTransitional Safe Harbor\u201d exemptions that lessen the requirement to submit a full Pillar Two minimum tax calculation, provided the Group meets at least one of the three Safe Harbor tests. In 2024, the Group can leverage these Safe Harbor exemptions where it operates based on the tests and no or minimal top-up tax will need to be paid.

Management has evaluated the impact of the Pillar Two legislation and anticipates that during future years it may increase the Group\u2019s annual effective tax rate by approximately 0.5 to 1.0 percentage points, depending on future developments and the Group\u2019s evolving tax position. This evaluation is based on the current understanding of the legislation and the Group\u2019s existing tax positions. The Group will continue to monitor developments and ensure compliance with the new requirements.

", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__152": { "value": "

5.2 Deferred tax

5.2.1 Recognised deferred tax

(DKKm)

2024

2023

Tax losses carried forward

587

561

Goodwill

4

4

Customer contracts

7

7

Property and equipment (incl. right-of-use)

235

176

Provisions, lease and other liabilities

1,006

981

Pensions

195

157

Set-off within legal tax units/jurisdictions

(1,149)

(924)

Total assets

885

962

Goodwill

420

423

Brands

350

350

Customer contracts

255

187

Property and equipment (incl. right-of-use)

579

487

Provisions, lease and other liabilities

581

692

Pensions

97

82

Tax losses in foreign subsidiaries under Danish joint taxation

23

23

Set-off within legal tax units/jurisdictions

(1,149)

(924)

Total liabilities

1,156

1,320

Development in deferred tax

(DKKm)

2024

2023

Liabilities, net at 1 January

358

266

Prior year adjustments, net

(31)

18

FX adjustments

21

26

Hyperinflation restatement

23

(4)

Acquisitions/divestments, net

19

(2)

Actuarial (gain)/losses on pensions

(36)

(33)

Reclass to Assets/(Liabilities) held for sale

-

21

Tax on profit before tax

59

66

Reclass

(142)

-

Liability, net at 31 December

271

358

Prior year adjustments, netmainly related to adjustment of tax deductions (temporary differences) in the final tax returns.

Acquisitions/divestments, netin 2024 related mainly to adjust-ments to previous years divestments.

Reclassrelated to uncertain tax positions being reclassified from deferred tax to tax payables.

5.2.2 Unrecognised deferred tax assetsAt 31 December 2024, the Group had unrecognised deferred tax assets which comprised tax losses carried forward and other deductible temporary differences of DKK 952 million (2023: DKK 1,032 million) mainly related to Germany.

Accounting estimates

Deferred tax assetsrelating 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 management and expectations for operational development, 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 positionsAs 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 applicable 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 tax payables or income tax depending on the tax position.

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.

Accounting policy

\"\"

Deferred 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 carry forwards, 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 exception for recognition and disclosure of deferred tax assets and liabilities arising from Pillar Two Income taxes.

", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__153": { "value": "

Accounting policy

\"\"

Deferred 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 carry forwards, 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 exception 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__154-1": { "value": "

6.1 Management

remuneration

6.1.1 Key management personnel

EGM

(DKK thousand)

Board

EGMB

Corporate

Senior

Officers

2024

Base salary and non-monetary benefits

9,121

11,776

38,523

Annual bonus (STIP)

-

10,707

21,556

Sign-on bonus

-

1,552

-

Pensions

-

1,113

2,086

Share-based payments

-

5,117

13,943

Severance payments

257

-

1,461

Total

9,378

30,265

77,569

2023

Base salary and non-monetary benefits

9,176

13,484

50,671

Annual bonus (STIP)

-

7,176

15,709

Sign-on bonus

-

-

11,658

Pensions

-

386

3,916

Share-based payments 1)

-

(4,603)

18,664

Severance payments

-

-

16,161

Total

9,176

16,443

116,779

1)Including a cost reversal of DKK 7 million due to forfeited PSUs as the Group CEO Jacob Aarup-Andersen left ISS.

The Executive Group Management (EGM) comprises the Executive Group Man-agement Board (EGMB) and Corporate Senior Officers of the Group.

Members of the EGM have authority and responsibility for planning, implement-ing and controlling the Group\u2019s activities and are together with the Board of Directors (Board) considered as the Group\u2019s key management personnel.

On 3 June 2024, Mads Holm joined ISS as Group CFO. In the period until 31 July 2024, the EGMB comprised only one member, the Group CEO.

Remuneration policy is described in the Remuneration report which is available here

Key management personnel

The Board of Directors (Board) and the Executive Group Man-agement (EGM) are considered the Group\u2019s key management personnel as defined in 6.1, Management remuneration.

Apart from remuneration, including share-based incentive pro-grammes, there were no significant transactions with members of the Board and the EGM in 2024.

", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__156-1": { "value": "

6.1 Management

remuneration

6.1.1 Key management personnel

EGM

(DKK thousand)

Board

EGMB

Corporate

Senior

Officers

2024

Base salary and non-monetary benefits

9,121

11,776

38,523

Annual bonus (STIP)

-

10,707

21,556

Sign-on bonus

-

1,552

-

Pensions

-

1,113

2,086

Share-based payments

-

5,117

13,943

Severance payments

257

-

1,461

Total

9,378

30,265

77,569

2023

Base salary and non-monetary benefits

9,176

13,484

50,671

Annual bonus (STIP)

-

7,176

15,709

Sign-on bonus

-

-

11,658

Pensions

-

386

3,916

Share-based payments 1)

-

(4,603)

18,664

Severance payments

-

-

16,161

Total

9,176

16,443

116,779

1)Including a cost reversal of DKK 7 million due to forfeited PSUs as the Group CEO Jacob Aarup-Andersen left ISS.

The Executive Group Management (EGM) comprises the Executive Group Man-agement Board (EGMB) and Corporate Senior Officers of the Group.

Members of the EGM have authority and responsibility for planning, implement-ing and controlling the Group\u2019s activities and are together with the Board of Directors (Board) considered as the Group\u2019s key management personnel.

On 3 June 2024, Mads Holm joined ISS as Group CFO. In the period until 31 July 2024, the EGMB comprised only one member, the Group CEO.

Remuneration policy is described in the Remuneration report which is available here

7.3 Related parties

Parent and ultimate controlling party

The Group\u2019s parent, ISS A/S, is the ultimate controlling party. At 31 December 2024, ISS had no related parties with either control of the Group or significant influence in the Group.

Key management personnel

The Board of Directors (Board) and the Executive Group Man-agement (EGM) are considered the Group\u2019s key management personnel as defined in 6.1, Management remuneration.

Apart from remuneration, including share-based incentive pro-grammes, there were no significant transactions with members of the Board and the EGM in 2024.

", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__157": { "value": "

6.2 Share-based payments

6.2.1 Long-term incentive programmeMembers of the EGM and other senior officers of the Group are granted a number of performance share units (PSUs) under the annual LTIP. Participants are compensated for any dividend distributed between time of grant and time of vest-ing. 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 2024, the Group recognised a cost of DKK 93 million (2023: DKK 72 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.

Fair value and profit or loss impact

LTIP 2021 1)

LTIP 2022

LTIP 2023

LTIP 2024

Fair value(DKKm)

At grant date

116

129

116

113

At 31 December 2024

-

93

95

105

Profit or loss impact(DKKm)

Recognised in 2024

7

35

26

21

Not yet recognised

-

4

29

62

PSUs and participants(number)

Participants

122

140

147

132

PSUs granted

1,362,540

1,448,791

1,011,072

1,171,299

PSUs expected to vest (of outstanding PSUs), %

64%

75%

44%

51%

1)Vested in March 2024.

Fair value assumptions

LTIP 2021

LTIP 2022

LTIP 2023

LTIP 2024

At the time of grant

Share price, DKK 1)

111-153

117-153

122-153

124-127

Expected volatility 2)

41.2 %

42.3 %

33.8 %

32.8 %

Expected life of grant, years

3

3

3

3

Risk-free interest rate 2)

(0.6) %-0.9 %

(0.1%)-1.5 %

1.0%-3.1%

0.8%-4.2%

1)Based on five-day average.

2)Based on observable market data for peer groups.

Vesting criteriaThe vesting criteria are total shareholder return (TSR), meas-ured relative to peer group performance, and earnings per share (EPS).

The weight of the individual criteria are:

TSR: 40 %

EPS: 40 %

Service-based objective: 20 %

TSR criteria

Threshold

Vesting

TSR

Below threshold

0 %

Below median of peers

Threshold

25 %

At median of peers

Maximum

100 %

At upper quartile of peers or better

TSR peers are the Nasdaq Copenhagen OMX C25 and a peer group of comparable international service companies.

Vested programmes In March 2024, the LTIP 2021 programme vested. Based on the annual EPS and TSR performances for 2021, 2022 and 2023, 64% of the granted PSUs vested at a weighted average price of DKK 126 at the date of exercise. After this vesting, no further PSUs are outstanding under the LTIP 2021 and the programme has lapsed.

Furthermore, in March 2025, the PSUs granted under LTIP 2022 will vest with 75% based on the annual EPS and TSR performances for 2022, 2023 and 2024.

Outstanding PSUs

EGM

LTIP 2021(vested in 2024)

EGMB

Corporate

Senior

Officers

Other

Senior

Officers

Total

Outstanding at 1 January 2023

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

Exercised

(19,631)

(95,162)

(510,920)

(625,713)

Expired

(10,809)

(52,398)

(281,448)

(344,655)

Outstanding at 31 December 2024

-

-

-

-

LTIP 2022(vesting in 2025)

At 1 January 2023

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

Granted

646

3,536

15,629

19,811

Forfeited

-

(13,648)

(27,653)

(41,301)

Outstanding at 31 December 2024

35,479

180,491

843,729

1,059,699

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

Granted

883

2,668

12,605

16,156

Forfeited

-

(13,823)

(48,084)

(61,907)

Outstanding at 31 December 2024

48,581

132,657

649,622

830,860

LTIP 2024(vesting in 2027)

Granted

115,713

163,197

892,389

1,171,299

Forfeited

-

(19,452)

(60,697)

(80,149)

Outstanding at 31 December 2024

115,713

143,745

831,692

1,091,150

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 EGM members and Other senior officers of the Group. Subject to individual service criteria, the RSUs will vest after 1.5 years. Upon vesting, each RSU entitles the holder to receive one share at no cost.

In 2024, a total of 72,772 RSUs were granted to the new Group CFO and certain Other Senior Officers under the SIP 2024 programme.

Vested programmes No SIP programmes have vested in 2024.

In March 2025, the RSUs granted under the SIP 2023pro-gramme will vest 100% subject to achievement of individual service criteria.

Fair value and profit or loss impact

SIP 2023

SIP 2024

Fair value(DKKm)

At grant date

1

9

At 31 December 2024

1

9

Profit or loss impact(DKKm)

Recognised in 2024

1

3

Not yet recognised

-

6

RSUs and participants(number)

Participants

4

6

RSUs granted

10,365

72,772

RSUs expected to vest, %

100%

100%

Fair value assumptions

SIP 2023

SIP 2024

At the time of grant

Share price, DKK

122

124-127

Expected life of grant, years

1.5

1.5

Outstanding RSUs

SIP 2023(vesting in 2025)

EGMB

Other Senior

Officers

Total

Granted

-

10,178

10,178

Outstanding at 31 December 2023

-

10,178

10,178

Granted

-

187

187

Outstanding at 31 December 2024

-

10,365

10,365

SIP 2024(vesting in 2026)

Granted

3,003

69,769

72,772

Outstanding at 31 December 2024

3,003

69,769

72,772

Accounting policy

\"\"

The 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)), see Vesting criteria in 6.2.1. Fair value assumptions are disclosed in the tables in 6.2.1 and 6.2.2.

On initial recognition, an estimate is made of the number of PSUs and RSUs expected to vest. The estimated number is 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__159": { "value": "

Accounting policy

\"\"

The 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)), see Vesting criteria in 6.2.1. Fair value assumptions are disclosed in the tables in 6.2.1 and 6.2.2.

On initial recognition, an estimate is made of the number of PSUs and RSUs expected to vest. The estimated number is 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__161": { "value": "

Accounting policy

\"\"

Defined contribution plansThe Group\u2019s contributions are recognised in Employee costs when the related service is provided.

Defined benefit plansThe 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 employees 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. If the calculation results in a net asset, the asset is recognised if it offsets refunds from or leads to reduced future contributions to the plan. Consideration is given to applicable minimum funding requirements.

Pension costs are calculated based on actuarial estimates and financial expectations at the beginning of the year. Service costs are recognised in Employee costs and net interest is recognised in Finance costs. Remeasurements (actuarial gains/losses), comprising the differences between the expected development 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 settlements are recognised when incurred.

The aggregated value of unfunded plans is presented as a net liability and the aggregated value of funded plans are presented as a net asset.

Multiemployer plansThe Group does not have the necessary information to account for the schemes as defined benefit plans, and they are therefore accounted for as defined contribution plans.

Other long-term employee benefitsare calculated as defined pension plans, except that actuarial gains and losses are recognised in Employee costs. Other long-term employee benefits comprise jubilee benefits, long-service or sabbatical leave, etc.

", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__162": { "value": "

7.2 Hyperinflation in T\u00fcrkiye

7.2.1 Impact on the consolidated financial statements

Inflation restatement,

in year

(DKKm)

Total

(excl. IAS 29)

Non-monetary

Profit

or loss

Retransla-tion

(YE FX)

Total

adjust-ments

Total

2024

Profit or loss

Revenue

83,005

-

943

(187)

756

83,761

Operating profit before other items

4,155

(78)

80

(14)

(12)

4,143

Operating profit

3,923

(99)

79

(14)

(34)

3,889

Net profit

2,592

(3)

-

(0)

(3)

2,589

Financial ratios

Organic growth (non-IFRS)

6.3%

-

-

-

-

6.3%

Operating margin (non-IFRS)

5.0%

(0.1)%

0.0%

0.0%

(0.1)%

4.9%

Cash flows

Operating activities

3,729

-

-

(2)

(2)

3,727

Investing activities

(1,537)

-

-

1

1

(1,536)

Financing activities

(1,410)

-

-

5

5

(1,405)

Free cash flow (non-IFRS)

1,995

-

-

1

1

1,996

2023

Profit or loss

Revenue

78,683

-

1,130

(1,132)

(2)

78,681

Operating profit before other items

3,348

(58)

90

(80)

(48)

3,300

Operating profit

3,199

(73)

90

(78)

(61)

3,138

Net profit

319

22

-

(16)

6

325

Financial ratios

Organic growth (non-IFRS)

9.7%

-

-

-

-

9.7%

Operating margin

4.3%

(0.1)%

0.1%

(0.1)%

(0.1)%

4.2%

Cash flows

Operating activities

3,433

-

-

(41)

(41)

3,392

Investing activities

(1,051)

-

-

9

9

(1,042)

Financing activities

(1,317)

-

-

(17)

(17)

(1,334)

Free cash flow (non-IFRS)

1,791

-

-

(16)

(16)

1,775

(DKKm)

Total

(excl. IAS 29)

Inflation

restatement,

accumulated

Total

2024

Financial position

Goodwill

19,509

992

20,501

Other intangible assets

3,453

405

3,858

Right-of-use assets, property and equipment

3,288

134

3,422

Total assets

49,110

1,531

50,641

Other comprehensive income 1)

(948)

1,299

351

Other equity elements

11,466

96

11,562

Total equity

10,518

1,395

11,913

Deferred tax liabilities

1,020

136

1,156

Total equity and liabilities

49,110

1,531

50,641

2023

Financial position

Goodwill

18,964

732

19,696

Other intangible assets

3,281

295

3,576

Right-of-use assets, property and equipment

3,017

109

3,126

Total assets

46,557

1,136

47,693

Other comprehensive income 1)

(1,179)

936

(243)

Other equity elements

10,666

99

10,765

Total equity

9,487

1,035

10,522

Deferred tax liabilities

1,219

101

1,320

Total equity and liabilities

46,557

1,136

47,693

1)In year impact of restatement amounted to DKK 477 million (2023: DKK 467 million).

Development in 2024 In 2024, the impact of hyperinflation restatement 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.

The Group\u2019s financial position continued to be significantly impacted. At 31 December 2024, goodwill had increased by DKK 992 million (2023: DKK 732 million), customer contracts had increased by DKK 405 million (2023: DKK 295 million) and equity had increased by DKK 1,395 million (2023: DKK 1,035 million) (accumulated hyperinflation adjustment impacts).

During the year, the inflation rate decreased to 44.38% (2023: 64.77%) and the exchange rate for TRY/DKK decreased from 22.82 in the beginning of the year to 20.30 in December 2024, leading to an average rate of 20.97 (2023: 29.80).

Accounting policy

\"\"

Inflation restatement

The financial statements of ISS T\u00fcrkiye based on historical costs are restated for inflation to reflect the purchasing power at the reporting date using the consumer price index.

Non-monetary itemssuch as goodwill, customer contracts, right-of- use assets, property and equipment and deferred tax, are restated for the effect of inflation based on changes in the price index for the period from initial recognition to 31 December 2024 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. The restatement effect related to prior years is recognised in Other comprehensive income and current year effect is recognised in Finance income and costs.

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 itemssuch as receivables, payables and borrowings are not restated as these items already reflect the purchasing power at the reporting date.

Equityincludes the opening effect of restating non-monetary items. The restatement effects based on in-year changes in the price index are recognised in other comprehensive income with set-off within finance income or costs in profit or loss.

Profit or losstransactions are restated to reflect changes in the price index from the time of transaction to the end of the reporting period except for depreciation and amortisation, which are recalculated based on the inflation-adjusted carrying amounts. The restating gain or loss is recognised in finance income or costs, except for the tax effect, which is recognised in income tax.

Cash flow statementOperating profit before other items includes a non-cash effect from the inflation restatement, and is eliminated in the line Non-cash items related to hyperinflation.

Price index

Restatement for hyperinflation of the financial statements 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 2024, the inflation rate in T\u00fcrkiye was 44.38% (2023: 64.77%). In 2024, the conversion factor was 17% (2023: 31%).

Retranslation from TRY to DKK

The financial statements of ISS T\u00fcrkiye, including effects of inflation restatement, are translated into DKK applying 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 transaction date or an average exchange rate for the month.

The TRY/DKK exchange rate decreased from 22.82 at the beginning of 2024 to 20.30 at 31 December 2024. The average rate was 20.97 (2023: 29.80).

", "dimensions": { "concept": "ifrs-full:DisclosureOfHyperinflationaryReportingExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__165": { "value": "

7.4 Fees to auditors

(DKKm)

2024

2023

Statutory audit

52

70

Other assurance services

5

2

Tax and VAT advisory services

2

6

Other services

3

8

Total

62

86

Fees for services other than the statutory audit of the financial statements provided by PricewaterhouseCoopers Statsautoris-eret Revisionspartnerselskab, Denmark mainly consist of other assurance opinions including limited assurance on the sustain-ability statement and agreed-upon procedures.

Other assurance servicescomprised work related to the interim financial statements and other assurance services. The increase compared to 2023 related to ESG.

Tax and VAT advisory servicesmainly related to tax compliance services.

Other servicesmainly related to software implementation services.

", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__166": { "value": "

7.5 Subsequent events

No events have occurred subsequent to 31 December 2024, which are expected to have a material impact on the consoli-dated financial statements.

", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__167": { "value": "The 2024 Annual Report for ISS A/S was discussed and ap-proved by the Executive Group Management Board and the Board of Directors on 20 February 2025 and issued for approv-al at the subsequent annual general meeting on 11 April 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__168": { "value": "

Basis of preparationThe 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 disclosureItems are measured at historical cost, except for plan assets un-der defined benefit plans, derivatives and contingent consider-ation 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 as-sessed that the fair values of cash and cash equivalents, trade receivables, 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 borrowings, including methods and assumptions used to estimate the fair value, are disclosed in 4.2.1, Borrowings.

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, either individually or combined. The deciding factor is whether the omission or misstatement could, individually or col-lectively, influence the economic decisions made by the primary users on the basis of the consolidated financial statements.

", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__169": { "value": "Basis of preparationThe 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.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__170": { "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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__173-1": { "value": "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.On recognition in the consolidated financial statements of Group companies with a functional currency other than DKK, except for companies operating in hyperinflationary environ-ments, 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 investment in the entity and on translation of the profit 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__176": { "value": "

Basis of consolidationThe consolidated financial statements comprise ISS A/S and entities controlled by ISS A/S. Consolidation is performed after elimination of intra-group balances, income and expenses. Unre-alised 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 benefits from their non-controlling inter-est 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.

", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__175": { "value": "

Foreign currencyTransactions in currencies other than the functional currency of the respective Group companies are considered transactions denominated in foreign currencies.

On initial recognition, foreign currency transactions are translated to the functional currencies of the Group compa-nies 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 Finance income or Finance costs.

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 Finance income or Finance costs.

On recognition in the consolidated financial statements of Group companies with a functional currency other than DKK, except for companies operating in hyperinflationary environ-ments, 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 investment in the entity and on translation of the profit 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": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__177": { "value": "

8.2 In-year changes

Changes in accounting policiesFrom 1 January 2024, the Group has adopted certain new and amended standards with no significant impact on recognition and measurement.

The Group is within the scope of the Pillar Two rules applying from 1 January 2024. For a description of Pillar Two, see 5.1, Income tax.

", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__178": { "value": "

8.2 In-year changes

Changes in accounting policiesFrom 1 January 2024, the Group has adopted certain new and amended standards with no significant impact on recognition and measurement.

The Group is within the scope of the Pillar Two rules applying from 1 January 2024. For a description of Pillar Two, see 5.1, Income tax.

", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__179": { "value": "

8.3 New regulations

IASB issued certain amended standards and interpretations, that are not mandatory for the consolidated financial state-ments of the Group at 31 December 2024. 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 interpretations are expected to have a material impact on the recognition and measurement in the consolidated financial statements.

The standard below will impact presentation and the definition of certain required subtotals.

IFRS 18: Presentation and Disclosure in Financial statementsFrom 1 January 2027, IFRS 18 will replace IAS 1, introducing new requirements that will help to achieve comparability of financial performance of similar entities and provide more relevant information and transparency to users.

Even though IFRS 18 will not impact the recognition and measurement of items, its impact on presentation (including definition of certain required subtotals) and disclosures is expected to be pervasive, in particular those related to the statement of profit or loss and providing management-defined performance measures within the financial statements. The key new concepts introduced in IFRS 18 relate to:

the structure of the statement of profit or loss;

required disclosures in the financial statements for certain profit or loss performance measures that are reported out-side an entity\u2019s financial statements (that is, management-de-fined performance measures); and

enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes in general

ISS has not yet analysed the impact of the new standard, but will do so in due course.

", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__180": { "value": "

8.4 Group companies

Northern Europe

Denmark (ISS A/S's country of domicile)

ISS Facility Services A/S

100%

ISS Finance B.V.

100% 4)

ISS World Services A/S

100% 4)

ISS Global A/S

100% 4)

ISS Global Management A/S

100% 4)

ISS Holding France A/S

100% 4)

ISS Lending A/S

100% 4)

Belgium & Luxembourg

ISS 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%

Finland

ISS Palvelut Holding Oy

100%

ISS Palvelut Oy

100%

Netherlands

ISS Catering Services B.V.

100%

ISS Holding Nederland B.V.

100%

ISS Integrated Facility Services B.V.

100%

ISS Nederland 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%

Poland

ISS Facility Services Sp. Z.o.o.

100%

ISS World Services Poland Sp. Z.o.o

100% 4)

Sweden

ISS Facility Services Holding AB

100%

ISS Facility Services AB

100%

ISS Palvelut Holding AB

100%

UK & Ireland

ISS UK Holding Limited

100%

ISS UK Limited

100%

ISS Facility Services Ltd.

100%

ISS Mediclean Ltd

100%

ISS Ireland Ltd.

100%

Central & Southern Europe

Austria

ISS Austria Holding GmbH

100%

ISS Facility Services GmbH

100%

med-serv GmbH

100%

ISS Ground Services

100%

Germany

ISS 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 Pluralis GmbH

100%

Hungary

ISS International Hungary Kft

100% 5)

Italy

ISS Facility Services S.r.l.

100%

Portugal

ISS Tech Portugal, Unipessoal Lda.

100% 4)

Romania

ISS Romania Group S.R.L.

100% 5)

ISS Facility Services International S.R.L

100% 5)

Spain

Integrated Service Solutions, S.L.

100%

ISS Facility Services, S.A.

100%

UTE-HOSPITALES S.A.S

065% 1)

Gelim Madrid, S.A.

100%

Switzerland

ISS Facility Services AG

100%

ISS Schweiz AG

100%

T\u00fcrkiye

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% 3)

Asia & Pacific

Australia & New Zealand

ISS Facility Management Pty Ltd

100%

ISS Facility Services Australia Ltd

100%

ISS Facility Services Pty Ltd.

100%

ISS Health Services 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%

China

ISS Facility Services (Shanghai) Ltd.

100%

ISS Hongrun (Shanghai) Cleaning Services Ltd

100%

Shanghai B&A Property Management Co., Ltd.

100%

Shanghai B&A Security Co., Ltd.

100%

Shanghai ISS Catering Management Ltd.

100%

Hong Kong

Hung 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%

India

ISS Facility Services India Pvt. Ltd.

100%

ISS SDB Security Services Pvt. Ltd.

046% 2)

Indonesia

PT ISS Facility Services

100%

PT ISS Indonesia

100%

PT ISS Jasa Fasilitas

0% 2)

Singapore

ISS Asia Pacific Pte. Ltd.

100%

ISS Catering Services Pte. Ltd.

100%

ISS Facility Services Pte. Ltd.

100%

ISS M&E Pte. Ltd.

100%

Americas

Chile

Apunto Servicios de Alimentacion S.A.

100%

ISS Chile S.A.

100%

ISS Facility Services S.A.

100%

ISS Servicios Generales Ltda.

100%

ISS Servicios Integrales Ltda.

100%

Mexico

ISS Centro Am\u00e9rica, S. de R.L. de C.V.

100%

ISS Facility Services, S.A. de C.V.

100%

US & Canada

ISS Facility Services Holding, Inc.

100%

ISS Management and Finance Co, Inc.

100%

ISS Facility Services, Inc (US)

100%

Guckenheimer Enterprises Inc.

100%

ISS Holding Inc.

100%

ISS Facility Services Inc. (CA)

100%

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.

4)Group HQ entity.

5)Global managed services.

On this page, the Group\u2019s significant subsidiaries and joint ventures are presented per region. Together these are referred to as \u201cCompanies within the ISS Group\u201d.

", "dimensions": { "concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__181": { "value": "

8.5 Definitions

ISS 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 performance measures (APMs) to provide stakeholders with additional measures to evaluate and analyse the Group\u2019s 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 companies\u2019 measures.

Alternative performance measures

EBITDA

Operating profit + Depreciation and amortisation + Amortisation/impairment of customer contracts

EBITDA before other items

Operating profit before other items + Depreciation and amortisation

Pro forma adjusted EBITDA

EBITDA before other items, excluding hyperinflation (IAS 29) + EBITDA before other items in discontinued operations, and adjusted as if all acquisitions and divestments had occurred on 1 January of the respective year

Net profit (adjusted)

Net profit excluding Other income and expenses, net, Goodwill impairment, Amortisation/impairment of customer contracts, impact from hyperinflation (IAS 29) and Net profit from discontinued operations (comparatives are not restated)

Free cash flow

Cash flow from operating activities \u2013 Acq. of intangible assets, property and equipment, net \u2013 Change in financial assets (excl. equity-accounted investees) \u2013 Addition of right-of-use assets, net

Financial leverage

Net debt

Pro forma adjusted EBITDA

Organic growth, %

(Revenue current year excl. hyperinflation \u2013 Comparable revenue1)prior year) x 100

Comparable revenue1)prior year

Acquisitions 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

Revenue

Total revenue growth, %

(Revenue current year \u2013 Revenue prior year) x 100

Revenue prior year

Financial ratios

Acquisitions, %

Revenue from acquisitions2)x 100 Revenue prior year

Cash conversion, %

Free cash flow x 100 Operating profit before other items

Currency adjustments

Total revenue growth \u2013 Organic growth \u2013 Acquisition/divestment growth, net3)

Divestments, %

Revenue from divestments4)\u00d7 100 Revenue prior year

Equity ratio, %

Total equity \u00d7 100 Total assets

Gross debt

Borrowings + utilisation of factoring and certain customer\u2019s supply chain finance arrangements

Net debt

Borrowings \u2013 Securities \u2013 Cash and cash equivalents +/\u2013 Fair value of derivatives + Net debt included in Liabilities held for sale

Share 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 average treasury shares, for the year

Average number of shares (diluted)

Average number of shares (basic) + Average number of outstand-ing PSUs and RSUs expected to vest in the year

Other ratios

Customer retention, %

Portfolio revenue (annual value) retained at 31 December of the portfolio at 1 January

Portfolio revenue (annual value) at 1 January

Gender diversity, Board, %

Female board members (AGM5)) elected) \u00d7 100

Board members (AGM5)) 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 members

1)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)Estimated or actual revenue where available at the divestment date.

4)Incl. the effect from exclusion of currency effects from the calculation of organic growth and acq./div., net.

5)AGM: Annual general meeting.

", "dimensions": { "concept": "ifrs-full:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__200": { "value": "ISS A/S", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__202": { "value": "A/S", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__201": { "value": "Denmark", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__203": { "value": "Denmark", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__204": { "value": "Buddingevej 197, DK-2860 S\u00f8borg", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__206": { "value": "Global ", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "s8__7__207": { "value": "Workplace and facility service solutions", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:213800LEZA58SZNCBN19", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } } } }