Wolters Kluwer First-Quarter 2021 Trading Update

By Globe Newswire7 days ago

Wolters Kluwer First-Quarter 2021 Trading Update

May 5, 2021 Wolters Kluwer, a global leader in professional information, software solutions, and services, today released its scheduled first-quarter 2021 trading update.

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Highlights

  • Full-year 2021 guidance reiterated: good start to the year.
  • First-quarter revenues up 4% in constant currencies and up 4% organically.
    • Recurring revenues (81%) grew 3% organically; non-recurring revenues rose 7% organically.
    • Digital & services revenues (92%) grew 4% organically.
    • Expert solutions (55%) grew 6% organically.
  • First-quarter adjusted operating profit margin increased by 290 basis points, benefitting from temporary savings in travel and other discretionary costs.
  • First-quarter adjusted free cash flow up 115% in constant currencies, largely reflecting timing of working capital movements.
  • Net debt-to-EBITDA 1.5x as of March 31, 2021.
  • Progress on 2021 share buyback: 159 million of intended buyback of up to 350 million completed in the year through May 4, 2021.

Nancy McKinstry, CEO and Chairman of the Executive Board, commented:

First Quarter 2021 Developments

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