Wolters Kluwer: results and forecasts reassure
(CercleFinance.com) - Shares of the professional information group Wolters Kluwer are up over 3% in Amsterdam on Wednesday after the group published solid annual results and better-than-expected forecasts.
At 11.30am, the Dutch publisher's shares were up 3.5%, while the AEX was down over 0.6%.
Wolters announced this morning that it posted higher profits and revenues last year thanks to strong demand for its subscription services and online products.
Adjusted operating profit rose 7% at constant exchange rates in 2022 to 1.42 billion euros, just above the 1.41 billion euros expected by analysts.
Revenues increased 5% at constant exchange rates and were up 6% on an organic basis, at 5.45 billion euros, again above the consensus of 5.40 billion euros.
For 2023, Wolters Kluwer expects adjusted EPS growth of 5% to 10% at constant exchange rates.
Regarding shareholder remuneration, for 2022 it announced an annual dividend that is up 15% at E1.81 per share, as well as the launch of a new 1 billion euro share buyback program.
Copyright (c) 2023 CercleFinance.com. All rights reserved.