Full year results from Thomson Reuters, Reed Elsevier and Wolters Kluwer are now in, and show a remarkable similarity in messages about their performance in 2008, and their guidance for 2009.  Thomson Reuters had the edge, with 8% growth in pro forma revenues (currency had no impact), while Reed Elsevier reported total growth of 7% at constant currencies, and Wolters Kluwer came in at 3% growth at constant currencies.  Margins too remained strong,

The key growth area for all three enterprises was in online and software solutions, with WK highlighting acquisitions which had provided “further opportunities to embed our solutions in customers’ workflow” and Reed Elsevier noting “strong growth in online information and workflow solutions in Elsevier and LexisNexis”.  Online information and workflow solutions now account for around half of all revenues earned by these two businesses, with WK reporting a rise to 49% digital revenues, up from 47% in 2007, and Reed Elsevier claiming over 50% of revenues from these sources.  Looking ahead, none of the three were prepared to offer detailed full year guidance for 2009 because of the uncertainty of the current economic conditions.  Source: Outsell Insight March 10th, 2009

BIIA Newsletter March 2009 Issue