ISS provides update on contract with Novartis.
NORDIC BUSINESS REPORT-May 28, 2019-ISS provides update on contract with Novartis
(C)2019 M2 COMMUNICATIONS http://www.m2.com
ISS A/S (CPH: ISS), a global provider of facility services, announced on Monday that its current contract with Novartis, maturing on 31 December 2019, is not likely to be extended.
The company stated that revenues generated from Novartis amounted to DKK2.0bn in 2018, which was 2.8% of group revenues, with an operating margin above group average.
According to ISS, the annualised first year net negative margin impact, including exit related costs, is expected to be 0.1% to 0.2% points.
Also, ISS...
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