![]() We expect adjusted net financing costs 2 in constant currencies to be approximately €40 million. We expect 2023 restructuring costs to be in the range of €10-€15 million (FY 2022: €6 million). We include restructuring costs in adjusted operating profit. cent move in the average €/$ exchange rate for the year causes an opposite change of approximately 3 euro cents in diluted adjusted EPS 1. As a rule of thumb, based on our 2022 currency profile, each 1 U.S. In 2022, Wolters Kluwer generated over 60% of revenues and adjusted operating profit in North America. dollar rate persists, currency will have a slightly negative effect on full-year 2023 results reported in euros. Guidance reflects share repurchases of €1 billion in 2023. **Guidance for adjusted free cash flow and diluted adjusted EPS is in constant currencies (€/$ 1.05). ![]() *Guidance for adjusted operating profit margin and ROIC is in reporting currency and assumes an average EUR/USD rate in 2023 of €/$1.07. The adjusted operating margin is expected to ease in the first half. In the first and second quarters of 2023, organic growth is expected to be slower compared to the prior year period, most notably in Health and Governance, Risk & Compliance. We expect full-year organic growth to be in line with the prior year and the adjusted operating profit margin to improve. See Note 3 for a reconciliation from IFRS to benchmark figures. Benchmark figures are performance measures used by management. ∆: % Change ∆ CC: % Change in constant currencies (€/$ 1.18) ∆ OG: % Organic growth. While non-recurring revenue trend s still pose a challenge in the first half of 2023, we are confident of delivering robust organi c growth and margin improvement for the full year. We also made significant progress on our ESG objectives. It was a year of record investment s in product development to drive innovation for our customer s. Nancy McKinstry, CEO and Chair of the Executive Board, commented: “ We sustained 6% organic growth in 2022, led by digital and service subscription revenues. Comprising CCH Tagetik, Enablon, Finance Risk & Reporting, and TeamMate.Creating new division: Corporate Performance & ESG.Outlook 2023: Expect high single-digit growth in diluted adjusted EPS in constant currencies.Announcing 2023 share buyback of up to €1 billion, of which €100 million completed to date. ![]() Completed 2022 share buyback of €1 billion.Proposed 2022 total dividend €1.81 per share, an increase of 15%.Net-debt-to-EBITDA of 1.3x return on invested capital (ROIC) improved to 15.5%. ![]() ![]()
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