(News Bulletin 247) – The professional information group Wolters Kluwer gained more than 3% on Wednesday on the Amsterdam Stock Exchange after the publication of solid annual results and forecasts that exceeded expectations.

At 11:30 a.m., the title of the Dutch publisher took 3.5% while the AEX, the benchmark index of Euronext Amsterdam, fell by more than 0.6%.

Wolters announced this morning that it recorded higher profits and revenue last year thanks to strong demand for its subscription services and online products.

Its adjusted operating profit thus increased by 7% at constant exchange rates in 2022, to 1.42 billion euros, against 1.41 billion euros expected on average by analysts.

Net cash from operating activities rose by 22% to reach 1.58 billion euros.

Turnover increased by 5% at constant exchange rates and 6% in organic data, to 5.45 billion euros, a level again higher than the consensus which aimed for 5.40 billion.

For 2023, Wolters Kluwer said it expects adjusted earnings per share (EPS) growth of between 5% and 10% at constant exchange rates.

Regarding the remuneration of its shareholders, the group announced a 2022 annual dividend up 15% to 1.81 euros per share, as well as the launch of a new share buyback program of one billion euros.

Wolters Kluwer provides information, software and services for professionals in industries such as healthcare, accounting, legal, tax and auditing.

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