Iss A/s · OMXCOP:ISS
Iss A/s — FS Funding — Debt Investor Presentation (May 2006)
11 slides from Iss A/s's debt investor presentation, May 2006
Slide 1: FS Funding A/S Investor Presentation
FS Funding A/S Investor Presentation Interim Report January – March 2006
Slide 2: Forward-looking Statements
Forward-looking Statements Forward-looking statements This presentation may contain forward-looking statements. Statements herein, other than statements of historical fact, regarding future events or prospects, are forward-looking statements. The words ‘‘may’’, “will”, “should”, ‘‘expect’’, ‘‘antici
Slide 3: Key Figures Q1 2006
Key Figures Q1 2006 DKK millions Q1 2006(1) Growth Revenue 12,555 Organic 5% Acquisitions 10% Operating profit before other items 573 FX Adjustments 1% Operating margin before other items 4.6% Total 16% Operating profit 533 Carrying amount of net debt 25,252 Total equity 6,444 (1) Financial figures
Slide 4: ISS Revenue Growth, %
ISS Revenue Growth, % 82 108 20 15 16 13 13 10 5 0 Northern Europe Continental Europe Overseas Total ISS Organic Acquisition Total
Slide 5: Operating margin before other items, %
Operating margin before other items, % 6.0% 5.5% 5.0% 4.5% 4.0% 3.5% 3.0% Northern Europe Continental Overseas Total ISS Europe 2005 Q1 2006 Q1
Slide 6: Acquisitions
Acquisitions In Q1 2006 39 acquisitions were completed Representing annual revenue of approx. 125 Number of acquistions DKK 4.2 billion 102 100 95 92 36 acquisitions had revenue of less than 84 DKK 100 million 75 51 49 23 countries 50 39 36 More than 27,500 employees 25 The remaining 51% of shares i
Slide 7: Service mix of acquisitions – Q1 2006
Service mix of acquisitions – Q1 2006 6% 48% 39% 3% 4% IFS Office support Catering Property Cleaning
Slide 8: Tempo Services Ltd., Australia
Tempo Services Ltd., Australia Second largest acquisition 5% Characteristics 37% Revenue: approx. DKK 2.9 billion (2005) Employees: approx. 17,000 55% Business focus: 3% Cleaning services Security services IFS Office support Strategic rationale Catering Cleaning Further develop the service offerings
Slide 9: Other Financial Measures
Other Financial Measures DKK millions Pro Forma calculation(1) 12 months ended March 31, 2006 Adjusted EBITDA 3,130 Estimated Adjusted EBITDA of the Acquired and Divested Businesses 509 Estimated Pro Forma Adjusted EBITDA 3,639 (1) The calculations of pro forma adjusted EBITDA are based in part on m
Slide 10: Pro Forma Capital Structure - Q1 2006
Pro Forma Capital Structure - Q1 2006 (1) Capitalization DKK millions(2) % of Total Cash(3) (1,896) (6)% Other Indebtedness 417 1% Senior Facilities(4) 8,678 26% EMTNs 10,074 30% Total Net Senior Debt 17,273 52% Senior Subordinated Notes 9,731 29% Total Net Cash Pay Debt 27,004 81% Shareholders Fund
Slide 11: Pro Forma Credit Ratios - Q1 2006
Pro Forma Credit Ratios - Q1 2006 Pro Forma Net Cash Pay Debt / Pro Forma EBITDA 7.42x Pro Forma Net Senior Debt (incl. EMTNs) / Pro Forma EBITDA 4.75x Pro Forma Net Senior Bank Debt (excl. EMTNs) / Pro Forma EBITDA 1.98x