WOLTERS KLUWER S/ADR - WTKWY STOCK NEWS

Wolters Kluwer has acquired Vanguard Software for approximately $110 million in cash. This acquisition allows Wolters Kluwer to enhance its CCH Tagetik financial performance management platform by integrating sales and operations planning, including supply chain planning and predictive analytics. Vanguard Software, serving more than 60 countries, reported total revenues of $7.2 million in 2020, with cloud software revenues growing 33% organically. The transaction is expected to deliver a return on invested capital above 8% within 3 to 5 years, with an immaterial impact on adjusted net profit.

Wolters Kluwer released its first-quarter 2021 trading update on May 5, highlighting a positive start to the year. Revenues increased 4% in constant currencies, driven by organic growth across all divisions. Recurring revenues grew 3% organically, while adjusted free cash flow surged 115%. The adjusted operating profit margin rose by 290 basis points. Financially, net debt-to-EBITDA stood at 1.5x. The company reiterated its full-year guidance, expecting gradual recovery from pandemic impacts.

Wolters Kluwer held its Annual General Meeting on April 22, 2021, where all proposed resolutions were adopted. Key highlights include the reappointment of Supervisory Board members Frans Cremers and Ann Ziegler, along with Kevin Entricken to the Executive Board. Shareholders approved the 2020 financial statements and a total dividend of €1.36 per share, with final dividends of €0.89. A new remuneration policy for the Executive Board received significant support with 97.14% in favor. The meeting saw 79.08% of shareholders voting, reflecting strong engagement.