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Wolters Kluwer’s Share Buyback and Growth Outlook

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Wolters Kluwer has revealed its plans to buy back up to 1.0 billion euros ($1.08 billion) worth of shares as part of its strategic initiatives. The Dutch information services company anticipates robust organic growth and a further enhancement in adjusted operating profit margin for the current year.

Financial Highlights

  • Net profit for the year ending Dec. 31 amounted to EUR1.01 billion.
  • Adjusted operating profit reached EUR1.48 billion, showcasing a positive trend.
  • The adjusted operating profit margin saw an increase from 26.1% to 26.4%.

Revenue Performance

  • Revenue surged to EUR5.58 billion, driven by strong recurring revenues.
  • Revenue from North America witnessed a 5% organic growth.
  • European revenue expanded by 7% organically.
  • Asia Pacific and other segments registered a 9% organic growth.

Dividend Declaration

The company’s board declared a final dividend of EUR2.08 per share, reflecting a 15% increase.

Future Outlook

Looking ahead to 2024, Wolters Kluwer foresees a rise in adjusted earnings per share, offset by higher financing costs and taxes. Despite these challenges, Chief Executive Nancy McKinstry remains optimistic, stating, “We look forward to delivering another year of good organic growth and margin improvement in 2024.”

This demonstrates the company’s commitment to achieving financial goals and fostering sustainability while investing in product innovation for future growth.

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