At today’s Annual General Meeting, Wolters Kluwer will present a summary of 2019 financial results and strategic progress as part of the meeting agenda.
Management will also discuss how it has been supporting frontline healthcare customers during the COVID-19 pandemic and how it has transitioned over 95% of its employees to a work-from-home status to protect their health and wellbeing.
The company is still evaluating the impact of COVID-19 on its business going forward and will not be presenting or answering questions on the 2020 financial outlook at the meeting today.
First quarter 2020 performance was solid, with organic revenue growth of 4% and good margin improvement. Recurring revenues, which made up 82% of total revenues in the quarter, sustained 5% organic growth. Non-recurring revenues declined 2%, exhibiting the early impact from COVID-19 in the final two weeks of March. We intend to provide further detail on first quarter performance and an update on the outlook for 2020 in our first-quarter trading update scheduled for May 6, 2020.
The Annual General Meeting can be followed on our website at wolterskluwer.com/investors. The CEO’s presentation slides will be made available shortly before the meeting starts.
About Wolters Kluwer
Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
Wolters Kluwer reported 2019 annual revenues of €4.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).
|April 23, 2020||Annual General Meeting of Shareholders|
|April 27, 2020||Ex-dividend date: 2019 final dividend|
April 28, 2020
|Record date: 2019 final dividend|
|May 6, 2020||First-Quarter 2020 Trading Update|
|May 20, 2020||Payment date: 2019 final dividend ordinary shares|
|May 27, 2020||Payment date: 2019 final dividend ADRs|
|August 5, 2020||Half-Year 2020 Results|
|September 1, 2020||Ex-dividend date: 2020 interim dividend|
|September 2, 2020||Record date: 2020 interim dividend|
|September 24, 2020||Payment date: 2020 interim dividend|
|October 1, 2020||Payment date: 2020 interim dividend ADRs|
|October 30, 2020||Nine-Month 2020 Trading Update|
Forward-looking Statements and Other Important Legal Information
This report 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.
Elements of this press release contain or may contain inside information about Wolters Kluwer within the meaning of Article 7(1) of the Market Abuse Regulation (596/2014/EU).