Wolters Kluwer : A strong Q4, further margin progression in 2024 and a new €1bn buyback
>6% organic revenue growth, a 26.4% margin and a new €1bn SBB – all good - In 2023, Wolters Kluwer achieved an organic revenue growth of 6%, compared with 5% after the first nine months. The adjusted operating margin came in at 26.4%, comfortably ahead of our and consensus expectations, up 30bps yoy which implies a Q4 margin improvement of more than 450bps. This margin improvement was fuelled by stringent cost control (fewer appointments, less Opex), which is a superb...Wolters Kluwer operates through four divisions: Health is a global provider of information for medical and health professionals; Financial & Compliance Services is a U.S. provider risk management, compliance, finance, and audit professionals the services they need to optimize risk and business performance, and ensure compliance with local, regional, and global regulation; Tax & Accounting is a provider of tax, accounting, and audit information, and services; and Legal & Regulatory provides customers with expert content, software, and services in the areas of law, business, and regulatory compliance in Europe, North America and Asia Pacific.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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