Wolters Kluwer : Guidance maintained despite higher restructuring charges
>6% org. revenue growth, 8% growth in adj. operating profit, guidance maintained - For 9M, Wolters Kluwer reported 6% organic revenue growth and 8% growth in adjusted operating profit. Recurring revenues (83% of total) were up 7% and non-recurring revenue growth was 2%. Expert Solutions grew 8% organically. Group FCF increased 9%, which is clearly positive. Leverage increased from 1.6x at the interim stage to 1.8x at 9M, still comfortably below its target of 2.5x. The...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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