Amsterdam (February 25, 2009) - Wolters Kluwer, a market leading global information services and publishing company focused on professionals, today released its full-year 2008 results, which reflect a resilient company, supported by a strong financial foundation and a growing online and software portfolio designed to drive long-term profitable growth.

Highlights
Ordinary EBITA margin improved 60 basis points to 20.1%
Free cash flow improved 3% to €415 million in constant currencies (€395 million at actual rates)
Diluted ordinary EPS rose 10% to €1.52 in constant currencies, at actual rates EPS rose 7% to €1.47
3% revenue growth in constant currencies; organic revenue growth flat
Ordinary net income grew 4% in constant currencies
9% growth in higher margin electronic product revenue in constant currencies; electronic products now comprise 49% of total revenue, up from 47% in the prior year
Increased dividend proposal to €0.65 per share
Key Figures 2008

(All amounts are in millions of euros unless otherwise indicated)
Twelve months ended December 31
2008 2007 D D CC D OG
Revenue 3,374 3,413 (1%) 3% 0%
Electronic revenue % of total 49% 47%
Operating profit 503 546 (8%) (5%)
Ordinary EBITA 678 667 2% 5% 0%
Ordinary EBITA margin (%) 20.1% 19.5%
Ordinary net income 423 421 0% 4%
Diluted EPS continuing operations 1.09 1.08 1% 4%
Diluted ordinary EPS (€) 1.47 1.38 7% 10%
Free cash flow 395 405 (2%) 3%
D - % Change; D CC - % Change constant currency (EUR/USD 1.37); D OG - Organic growth %


Nancy McKinstry, CEO and Chairman of the Executive Board, commented on the company's full-year performance:

"Wolters Kluwer delivered strong profitability and cash flow during 2008, despite challenging economic conditions. The results demonstrate the strong fundamentals of our business. We saw significant growth in our online and software solutions, strengthened our leading market positions with strategic acquisitions and launched enhanced technology platforms to provide further opportunities to embed our solutions in customer's workflow. Our initiatives around operational efficiency, including Springboard, also provided support for our profitability.

"While market contractions were felt in all geographies, the company benefited from a resilient portfolio with a majority of revenue streams derived from subscription and other non-cyclical products, driven by legislative change, medical discoveries, and the increasing productivity needs of the professionals the company serves. Two thirds of revenues are subscription based with improving retention rates. The balance of the portfolio is comprised of transactional products including books, mortgage and corporate lending-based products, advertising and promotional services, and training. It is in these transactional areas that Wolters Kluwer experienced the pressure of the economic slow down.

"While we anticipate economic conditions will remain weak during 2009, we currently expect our ordinary EBITA margin to be broadly in line with 2008 levels and our ordinary diluted earnings per share to be between €1.41 and €1.46. This performance will be supported by our strong subscription base and growing online and software portfolio. We will continue to manage the business for the long term. Our strong commitment to our customers as well as our strong balance sheet supports our long-term strategy for growth."

Division overview (continuing operations)
(All amounts are in millions of euros unless otherwise indicated)
Twelve months ended December 31 2008 2007 D D CC D OG
Revenues
Health 687 761 (10%) (3%) (5%)
Corporate & Financial Services (CFS) 480 522 (8%) (1%) (2%)
Tax, Accounting & Legal (TAL) 879 881 0% 8% 3%
Legal, Tax & Regulatory Europe (LTRE) 1,328 1,249 6% 6% 2%
Total revenues 3,374 3,413 (1%) 3% 0%

Ordinary EBITA
Health 86 112 (24%) (24%) (28%)
Corporate & Financial Services (CFS) 133 144 (8%) (1%) 0%
Tax, Accounting & Legal (TAL) 223 197 13% 22% 12%
Legal, Tax & Regulatory Europe (LTRE) 274 253 9% 8% 3%
Corporate (38) (39) (4%) (4%) (4%)
Total Ordinary EBITA
678 667 2% 5% 0%
D - % Change; D CC - % Change constant currency (EUR/USD 1.37); D OG - Organic growth %

Revenue growth components (continuing operations)
(All amounts are in millions of euros unless otherwise indicated)
Twelve months ended December 31 2008 2007 Change
Subscription & other non-cyclical revenues 2,441 2,373 3%
Book revenues 380 385 (1%)
Cyclical revenues 622 655 (5%)
Impact of wholesaler de-stocking actions in healthcare (19)
Impact of loss of one significant pharmaceutical data contract (11)
Organic revenues1 3,413 3,413 0%
Net acquisition impact1 114
Revenues (constant currencies)1 3,527 3,413 3%
Currency impact (153)
Reported revenues 3,374 3,413 (1%)
1At constant currency (EUR/USD 1.37)


Wolters Kluwer revenue totaled €3,374 million in 2008, compared to €3,413 million in 2007, a rise of 3% at constant currencies. Organic revenue was in line with the previous year, while key strategic acquisitions contributed growth of 3%.