Wolters Kluwer NV
amsterdam : WLSN

February 22, 2012 02:24 ET

Wolters Kluwer 2011 Full-Year Results Improved Operating Performance

ALPHEN AAN DEN RIJN, THE NETHERLANDS--(Marketwire - Feb 22, 2012) -


Please click this link for viewing the multimedia press release.

Alphen aan den Rijn (February 22, 2012) - Wolters Kluwer, a market-leading global information services company focused on professionals, today released its 2011 full-year results which highlight portfolio resilience and steady improvement in operating performance despite macro-economic uncertainty. The company also announced its intention to execute a share buy-back program of up to EUR100 million in 2012.

NOTE: The information in this press release is based on continuing operations and growth rates cited are at constant currencies, unless stated otherwise.

Highlights

* Revenues up 4% (1% organic) fueled by 8% growth in electronic and services revenues.

* Electronic and services revenues now represent 71% of total revenues.

* Springboard run rate savings reach EUR191 million in 2011.

* Ordinary EBITA up 4% (2% organic) supported by growth in electronic products and Springboard savings, resulting in an ordinary EBITA margin of 21.7%

* Profit for the year including discontinued operations decreased to EUR118 million largely due to an impairment charge of EUR112 million.

* Diluted ordinary EPS up 3% to EUR1.47.

* Solid ordinary free cash flow of EUR443 million.

* Results in line with financial guidance.

Key Figures

(All amounts are in millions of euros unless otherwise indicated)
---------------------------------------------------------------------------
Full Year                               2011  2010     D  D CC         D OG
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Continuing operations:

Revenues                               3,354 3,308    1%    4%           1%

Electronic and services revenue % of
total                                     71    68
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Ordinary EBITA                           728   716    2%    4%           2%

Ordinary EBITA margin (%)              21.7% 21.6%
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Ordinary net income                      444   436    2%    3%

Profit for the year                      242   296 (18%) (17%)

Diluted ordinary EPS (EUR)                1.47  1.45    2%    3%
---------------------------------------------------------------------------
Ordinary free cash flow                  443   446  (1%)    1%
---------------------------------------------------------------------------
Including discontinued operations:

Profit for the year                      118   287 (59%) (59%)

Diluted EPS (EUR)                         0.40  0.96 (58%) (59%)
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D - % Change; D CC - % Change constant currencies (EUR/USD 1.33); D OG - %
Organic growth

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Looking Forward

* Management expects continuous improvement in operating performance in 2012, despite uncertain market conditions.

* Announced intention to execute a share buy-back of up to EUR100 million in 2012.

* Proposed dividend increase to EUR0.68 per share in line with progressive dividend policy.

Nancy McKinstry, CEO and Chairman of the Executive Board, commented on the full-year performance:

"I am encouraged by the progress that we have made in 2011. The company delivered steady improvements in operating performance. The fundamentals of our business are attractive, with strong global market positions, a high proportion of recurring revenues, and a growing portfolio of online and software solutions. Our strategy to drive growth through innovation and global expansion continues to improve the quality of our business and strengthen our financial results. Our strategic decisions in 2011 have positioned the company well for 2012 and our confidence in the business enables us to propose a EUR0.68 per share dividend."

The full press release on the 2011 Full-Year Results is available here: (PDF version)

Wolters Kluwer 2011 Full-Year Results (PDF): http://hugin.info/130682/R/1588070/498254.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Wolters Kluwer NV via Thomson Reuters ONE

[HUG#1588070]

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