Alphen aan den Rijn, August 2, 2023 – Wolters Kluwer, a global leader in professional information, software
solutions and services, today releases its half-year 2023 results.
Highlights
? Guidance for 2023 reiterated.
? Margin to improve for the full year.
? Revenues €2,725 million, up 4% in constant currencies and up 6% organically.
? Recurring revenues (82% of total revenues) up 7% organically; non-recurring down 1% organically.
? Digital & services revenues (94% of total revenues) grew 6% organically.
? Expert solutions (58% of total revenues) grew 7% organically.
? Adjusted operating profit €711 million, down 4% in constant currencies.
? Adjusted operating profit margin down 210 basis points to 26.1%, as anticipated.
? Margin reflects expected increase in personnel costs and investments in innovation.
? Diluted adjusted EPS €2.17, up 6% overall and up 2% in constant currencies.
? Adjusted free cash flow €495 million, down 2% in constant currencies.
? Return on invested capital (ROIC) improved to 15.4%.
? Balance sheet remains strong with net-debt-to-EBITDA of 1.5x.
? Interim dividend €0.72 per share, set at 40% of prior year total dividend.
? On track to complete 2023 share buyback of up to €1 billion.
Interim Report of the Executive Board
Nancy McKinstry, CEO and Chair of the Executive Board, commented: “We delivered 6% organic growth as
continued strong momentum in recurring revenues more than offset the anticipated downturn in nonrecurring revenue streams. Operating costs and margins developed as expected and we remain confident of
delivering a full-year margin improvement. We made important progress towards our strategic goals and are
excited about pursuing growth opportunities across the business. Around 50% of our digital revenues are from
products that leverage AI and we see generative AI as another powerful tool to drive value for our customers.”

Key Figures – Six months ended June 30
€ million (unless otherwise stated) 2023 2022 ? ? CC ? OG

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