Wolters Kluwer 2012 Half-Year Results
Alphen aan den Rijn (July 25, 2012) - Wolters Kluwer, a global leader in professional information services, today released its 2012 half-year results.
- Full-year 2012 guidance confirmed.
- Revenues up 3% in constant currencies and up 1% organically.
- Deterioration in Europe offset by improved organic growth in North America.
- Recurring revenues up 2% organically (76% of total revenues).
- Online, software and services revenues up 4% organically (75% of total revenues).
- Health and Financial & Compliance Services grew organically 5% and 6%, respectively.
- Ordinary EBITA €46 million; Ordinary EBITA margin of 19.9%.
- Leverage ratio net-debt-to-EBITDA improves to 2.9x (2011 year-end: 3.1x).
- Expect to approach target of 2.5x by year-end.
- Healthcare Analytics disposal completed in May as part of pharma divestiture program.
- €100 million share buy-back completed on July 9; program will be expanded by up to €5 million under new policy to offset dilution from stock dividend and performance shares.
Nancy McKinstry, CEO and Chairman of the Executive Board, commented:
"Our performance is on track, despite challenging macro-economic conditions in Europe. Improved momentum in North America and growth in our online, software and services products globally have helped deliver positive organic growth for the group in the first half. We continue investments in product innovation and geographic expansion while actively pursuing operating efficiencies. We remain confident we will deliver on our full-year guidance."
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