Alphen aan den Rijn (February 23, 2011) - Wolters Kluwer, a market-leading global information services company focused on professionals, released its 2010 full-year results highlighting strong operating performance, growing momentum in electronic revenues, and an improved outlook for 2011. The company also announced its intention to execute a €100 million share buy-back plan.

Highlights
Revenue growth of 4% to €3,556 million reflecting improved organic growth trends
Electronic revenues up 7%; now represent 54% of total revenues (2009: 52%)
Online, software, and services revenues approaching 70% of total revenues
Ordinary EBITA growth of 7%; margin improved 50 basis points to 20.4%
Incremental Springboard program savings of €62 million exceeded expectations
Diluted ordinary earnings per share increased to €1.48 (2009: €1.45)
Free cash flow accelerated to €445 million, up 5%
Net-debt-to-EBITDA ratio improved to 2.7 (2009: 2.9)

Looking Forward
Springboard program savings upgraded to €170-180 million in 2011
On track to deliver medium-term guidance for improved performance
Company announced its intention to execute a €100 million share buy-back
Proposed dividend increase to €0.67 per share

Key Figures
(All amounts are in millions of euros unless otherwise indicated)
Full Year 2010 2009 D D CC
Revenues 3,556 3,425 4% 0%
Organic revenue growth 0% (3%)
Electronic revenues % of total 54% 52%
Ordinary EBITA 727 682 7% 3%
Ordinary EBITA margin 20.4% 19.9%
Ordinary net income 444 427 4% 2%
Diluted EPS (€) 0.96 0.40 139% 154%
Diluted ordinary EPS (€) 1.48 1.45 2% 0%
Free cash flow 445 424 5% 4%

D - % Change; D CC - % Change constant currencies (EUR/USD = 1.39)

Nancy McKinstry, CEO and Chairman of the Executive Board, commented on the performance:
"2010 was a year of successes for Wolters Kluwer. We advanced the transformation of our portfolio and broadened our geographic footprint. Today 70% of our revenue comes from online, software, and service offerings. With 7% growth in electronic revenue and healthy retention rates on subscriptions, we are well positioned for long-term growth.

This year's strong cash flow generation allows us to distribute additional returns to shareholders. We intend to execute a €100 million share buy-back program over 2011 and have proposed an increase in our dividend to €0.67 per share.

We are pleased with our progress and will continue to invest in high growth segments, focus on online and software solutions and accelerate the globalization of our business. We are confident that we can build on the momentum established in 2010 to deliver improved top-line and profitability performance in 2011."

Financial Overview
Revenue growth components

(All amounts are in millions of euros unless otherwise indicated)
Full Year % of Total 2010 2009 D D CC D OG
Electronic & service subscription 50 1,775 1,660 7% 3% 3%
Print subscription 13 473 504 (6%) (9%) (9%)
Other non-cyclical 8 287 271 6% 2% 3%
Total recurring revenues 71 2,535 2,435 4% 0% 0%
Books 10 352 336 5% 1% 1%
Cyclical product lines 19 669 654 2% (1%) 0%
Total revenues 100 3,556 3,425 4% 0% 0%

D - % Change; D CC - % Change constant currencies (EUR/USD = 1.39); D OG - % Organic growth

Total revenues grew 4% in 2010 to €3,556 million (0.3% organic). Supported by strong product development efforts, electronic and service subscriptions grew 7%, underpinned by 3% organic growth. Print subscriptions declined 9% (organically) as customers continue to migrate to online solutions and as a result of economic conditions. The subscription portfolio was further strengthened as the company successfully delivered improved retention rates. Total recurring revenues, which include subscription and other non-cyclical revenues, now comprise 71% of total revenues.

Revenue from books improved 5%, with organic growth of 1%, driven by strong performance in the Health & Pharma Solutions division. Cyclical revenues, which accounted for 19% of total revenues, showed marked improvement and finished in line with 2009, reversing a negative growth trend (2009: -11%; 2010 HY:-2%). With a strong finish to the year, transactional revenues from Corporate Legal Services and Financial Services contributed positively by posting organic growth of 12% and 2%, respectively. These trends helped to offset continued pressure in advertising, training, and consulting activities, particularly in Europe.