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Wolters Kluwer (WTKWY) is a global leader in digital knowledge solutions and cloud software for tax, finance, accounting, and legal professionals. With offerings like the SAP Document and Reporting Compliance solution integrated with the CCH SureTax solution, Wolters Kluwer helps multinational companies manage U.S. tax filing obligations efficiently. The company serves customers in over 180 countries and reported 2022 annual revenues of €5.5 billion.
Wolters Kluwer reported its 2020 full-year results, featuring revenues of €4,603 million, a 1% increase in constant currencies. Adjusted operating profit rose to €1,124 million, with a margin improving to 24.4%. Recurring revenues grew by 4% organically, while non-recurring revenues fell by 8%. Diluted adjusted EPS reached €3.13, up 7%. The company proposed a total dividend of €1.36 per share, reflecting a 15% increase. For 2021, it anticipates mid-single-digit growth in adjusted diluted EPS but acknowledges potential challenges from lower PPP1 revenues and the ongoing impacts of COVID-19.
Wolters Kluwer has finalized a capital reduction process, which was sanctioned by shareholders during the Annual General Meeting on April 23, 2020. This action has led to the cancellation of 5,500,000 ordinary shares, bringing the total number of issued ordinary shares to 267,516,153. Following this transaction, 3,540,534 shares remain in treasury, representing 1.3% of the total issued shares. The company remains committed to managing its treasury shares for future incentive schemes.
Wolters Kluwer Legal & Regulatory U.S. launched the Employee Leave Toolkit, a comprehensive resource for employment law professionals managing complex employee leave laws. This toolkit, part of the Cheetah™ legal research platform, provides vital tools and guidance for businesses with at least 15 employees. It includes resources like a Smart Chart for comparing state and federal leave, a Family and Medical Leave Guide, and various practice aids. The toolkit aims to assist employers in navigating compliance challenges heightened by recent federal pandemic laws.
On August 26, Wolters Kluwer Legal & Regulatory U.S. will host a webinar with Corporate Counsel Business Journal, discussing the findings from the 2020 Wolters Kluwer Future Ready Lawyer Survey: Performance Drivers, which includes insights from 700 legal professionals across the U.S. and Europe. Panelists will include legal industry leaders who will discuss the survey's implications in light of the disruptions caused by COVID-19. The survey highlights the need for legal professionals to adapt to the changing landscape, as rapid disruptions in the industry continue to accelerate.
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