wolters kluwer (WOLTF) Key Developments
Wolters Kluwer Announces Executive Appointments
Aug 10 15
Wolters Kluwer announced the appointment of Denise Basow, M.D., as President & CEO of its Clinical Effectiveness Business Unit and David Del Toro as President & CEO of its Clinical Software Solutions Business Unit effective August 1, 2015. Formed from the Clinical Solutions unit, part of the Health Division, the two new business units were created to drive Wolters Kluwer’s key growth initiatives within the healthcare market and to support tighter integration among its suite of point of care solutions. Dr. Basow was previously Vice President & General Manager, Clinical Decision Support. She joined Wolters Kluwer in 2008 as part of its acquisition of UpToDate, where she served as editor-in-chief. Previously, Dr. Basow practiced primary care medicine. Mr. Del Toro previously served as Vice President & General Manager, Clinical Documentation. He joined Wolters Kluwer in 2006 and has been in health IT for 30 years.
Wolters Kluwer NV Presents at Barclays Capital Select European Media and Telecom Forum, Sep-01-2015
Jul 30 15
Wolters Kluwer NV Presents at Barclays Capital Select European Media and Telecom Forum, Sep-01-2015 . Venue: London, United Kingdom.
Wolters Kluwer NV Intents to Pay Interim Dividends, Payable on October 12, 2015 for Ordinary Shares and October 19, 2015 for ADRs
Jul 29 15
Wolters Kluwer NV announced its intent to pay interim dividends, starting with €0.18 in October 2015. Ex-dividend date is September 24, 2015, record date is September 25, 2015, payment date for ordinary shares is October 12, 2015 and for ADRs is October 19, 2015.
Wolters Kluwer Announces Earnings Results for the Six Months Ended June 30, 2015; Provides Earnings Guidance for the Fiscal Year 2015
Jul 29 15
Wolters Kluwer announced earnings results for the six months ended June 30, 2015. For the six months, the company reported revenues EUR 2,015 million against EUR 1,716 million a year ago. Adjusted operating profit was EUR 391 million against EUR 313 million a year ago. Adjusted net profit was EUR 235 million against EUR 190 million a year ago. Diluted adjusted EPS was EUR 0.79 against EUR 0.63 a year ago. Adjusted free cash flow was EUR 170 million against EUR 136 million a year ago. Net debt as on June 30, 2015 was EUR 2,069 million against EUR 2,227 as on June 30, 2014. Operating profit was EUR 281 million against EUR 214 million a year ago. Profit for the period was EUR 162 million against EUR 200 million a year ago. Diluted EPS was EUR 0.55 against EUR 0.67 a year ago. Net cash from operating activities was EUR 245 million against EUR 188 million a year ago.
The company provided earnings guidance for the fiscal year 2015. The company’s guidance for the full year is unchanged. The company notes that comparables become more challenging in the second half, particularly for corporate legal services and financial & compliance services, and investments will be second-half weighted. As indicated in February, in the year 2015, the company intends to further sharpen its portfolio towards its leading, high growth businesses, to step up organic investment in digital products, and to continue to drive efficiencies. The company expects the adjusted operating profit margin to increase in 2015. The company currently expects restructuring costs to be approximately EUR 35 million for the full year (2014: EUR 36 million) and to occur mainly in legal & regulatory solutions. Adjusted operating profit margin expected to be in the range of 21.0% to 21.5%, adjusted free cash flow expected to be in the range of EUR 500 to EUR 525 million, return on invested capital expected to be = 8%. Diluted adjusted EPS expected to be mid-single-digit growth. The company guidance is based on constant exchange rates. The company expects the benchmark effective tax rate to be between 27% and 28% in 2015. The company expects its cash conversion ratio to return towards historic average of 95%, and capital expenditure between 4% and 5% of revenue.
Wolters Kluwer Seeks Acquisitions
Jul 29 15
Wolters Kluwer NV (ENXTAM:WKL) is seeking acquisitions. Nancy McKinstry, Wolters Kluwer's Chairman and Chief Executive Officer, said "We are continuing to expand these businesses with organic investment and selective acquisitions."