Wolters Kluwer reports revenues for 2013 of Euro 3.5bn up 2% in constant currencies and up 1% organically.
Nancy McKinstry, CEO and Chairman of the Executive Board, commented: “Our leading, high growth positions and our digital products again drove positive organic growth for the group, more than offsetting the challenges posed by the still uncertain macro environment in Europe and weak print markets globally. Our large and growing subscription base helped us mitigate the less favorable trends we saw last year in transactional revenues. We plan further action in 2014 to increase the focus on our growth businesses and drive efficiencies in Europe and North America. I am very encouraged by the new products we are bringing to market and look forward to 2014 with confidence.”
In 2014, Wolters Kluwer plans further action to sharpen its focus on leading, high growth positions, deliver product innovation, and drive efficiencies across the group. It plans to undertake additional restructuring to improve the cost base, particularly in Europe, while continuing to invest in our leading positions to support organic growth. These actions are expected to reduce the ordinary EBITA margin to within a range of 20.5% to 21.5% in 2014, including total restructuring costs of approximately EUR25-30 million. It expects low single digit growth in diluted ordinary EPS in constant currencies.
Source: Marketwatch.com
