Wolters Kluwer Continues Successful Strategy to Accelerate Profitable Growth
Wolters Kluwer, a leading global information services and publishing company, holds its Annual General Meeting of Shareholders (AGM) today in Amsterdam. At the start of the meeting CEO and Chairman of the Executive Board, Nancy McKinstry, addressed the shareholders providing an overview of the company’s performance in 2007 and outlook for 2008.
The AGM will vote on the proposal to increase dividend over 2007 by 10%. The company proposes a dividend distribution of €0.64 per ordinary share. A dividend of €0.64 corresponds with a dividend yield of 2.8% over the closing share price of December 31, 2007. In line with previous years and indicating a strong belief in the future of the company, Wolters Kluwer will propose to allow its shareholders to choose between a distribution in the form of cash or stock.
The shareholders also will vote on the reappointment of Mr. H. Scheffers due to his retirement by rotation, Mr. Scheffers has been a member of the Supervisory Board since 2004, and Chairman of the Audit Committee since 2005.
The full agenda for the AGM is available on the company’s website, www.wolterskluwer.com.
In her address to the shareholders, Nancy McKinstry, CEO and Chairman of the Executive Board, commented on the successful progress of the company in 2007 and the outlook for 2008.
“Once again, Wolters Kluwer delivered on all of its Key Performance Indicators in 2007. Organic revenue growth accelerated and profitability improved substantially. Wolters Kluwer expanded its product offering particularly in online products and work flow solutions, which now account for almost 50% of revenues.”
“With its full-year results presentation on February 27, 2008, the company provided a guidance for 2008 of double-digit growth in Wolters Kluwer’s ordinary EPS at a range between €1.52 to €1.57, organic revenue growth of 4%, ordinary EBITA margin of 20%, and free cash flow of €400 million. It is anticipated that organic revenue growth will accelerate in the second half of 2008, as was the case in 2007 and prior years, driven by the timing of the publishing schedule and the release of new products. Despite uncertain market conditions, the company has no indication that would change the guidance previously provided.”
2008 marks the second year of implementation for Wolters Kluwer’s strategy to accelerate profitable growth. McKinstry reinforced the commitment of management to delivering strong results for the shareholders as the company executes its mission to be The Professionals’ First Choice.
“Growth is our most important objective as a company. And, the single most important way we can accelerate growth comes from focusing on our customers, gaining the best understanding of their needs and meeting those needs with innovative products and solutions.”
The presentation of Ms. McKinstry is available at the company’s website.
About Wolters Kluwer
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services globally for professionals in the health, tax, accounting, corporate, financial services, legal, and regulatory sectors. Wolters Kluwer has annual revenues (2007) of €3.4 billion, maintains operations in over 33 countries across Europe, North America, and Asia Pacific and employs approximately 19,500 people worldwide. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Visit www.wolterskluwer.com for information about our market positions, customers, brands, and organization.
2008 Half-year results July 30, 2008
2008 Trading update November 5, 2008
2008 Full-year results February 25, 2009
Full overview available at www.wolterskluwer.com.
This press release contains forward-looking statements. These statements may be identified by words such as “expect,” “should,” “could,” “shall,” and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions; conditions in the markets in which Wolters Kluwer is engaged; behavior of customers, suppliers, and competitors; technological developments; the implementation and execution of new ICT systems or outsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer’s businesses, as well as risks related to mergers, acquisitions, and divestments. In addition, financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.