Report
Konrad Zomer

Wolters Kluwer : Roll forward … but with a few bumps in the road

>Testing investors’ nerve a bit longer - Wolters Kluwer is set to release its nine-month trading update on 1 November. We will be mostly focused on the adjusted operating margin development and forecast a 100bps decline for nine-month 2023. This forecast reflects a Q1 decline of 270bps, an implied Q2 decline of 150bps, and a yoy improvement of 120bps in Q3. We also expect management to reiterate its FY 2023 margin guidance of 26.1-26.5% (FY 2022: 26.1%), which means e...
Underlying
Wolters Kluwer NV

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Konrad Zomer

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