Wolters Kluwer: 2015 Third-Quarter Trading Update
Posted: 6 January 2016 | Source: Wolters Kluwer
- Full-year 2015 guidance reiterated.
- Nine-month revenues up 3% in constant currencies and up 3% organically:
- Leading, growing positions (52% of total revenues) grew 7% organically.
- Digital products (71% of total) up 6% organically, more than offsetting decline in print.
- North America (60% of total) and Asia Pacific & Rest of World (8% of total) driving growth.
- Nine-month adjusted operating profit increased in constant currencies and the adjusted operating profit margin improved, as expected.
- Nine-month adjusted free cash flow also increased in constant currencies.
- Net-debt-to-EBITDA was 2.0x as of September 30, 2015.