Edition:
India

Wolters Kluwer FY adjusted net profit beats Reuters poll


Wednesday, 21 Feb 2018 

Feb 21 (Reuters) - WOLTERS KLUWER NV ::FY ADJUSTED NET PROFIT EUR 668 MILLION (NOT 671 MILLION) VERSUS EUR 656 MILLION IN REUTERS POLL.FY REVENUES UP 5% IN CONSTANT CURRENCIES AND UP 3% ORGANICALLY..FY REUTERS POLL: REVENUES EUR 4.43 BILLION; ADJUSTED. OPERATING PROFIT EUR 992 MILLION; ADJUSTED. NET PROFIT EUR 656 MILLION.‍PROPOSED FULL-YEAR TOTAL DIVIDEND OF EUR 0.85 PER SHARE, UP 8%​.OUTLOOK 2018: EXPECT DILUTED ADJUSTED EPS TO GROW 10%-15% IN CONSTANT CURRENCIES.FY ADJUSTED OPERATING PROFIT EUR 1.01 BILLION VERSUS EUR 992 MILLION IN REUTERS POLL.‍PROPOSED FY TOTAL DIVIDEND OF EUR 0.85 PER SHARE, UP 8%​.SHARE BUYBACK: CURRENT INTENTION IS TO REPURCHASE UP TO EUR 400 MILLION IN SHARES IN 2018.GUIDANCE REFLECTS IFRS15 ACCOUNTING STANDARD, EFFECTIVE IN 2018.SEES 2018 ADJUSTED OPERATING PROFIT MARGIN 22.5%-23.0%.SEES 2018 ADJUSTED FREE CASH FLOW EUR 725-EUR 750 MILLION.SEES 2018 ROIC AT 10.0%-10.5% VERSUS 9.8% IN 2017‍​.‍EXPECTS RESTRUCTURING COSTS OF EUR 15-EUR 25 MILLION IN 2018 (2017: EUR 33 MILLION)​.‍IN 2018, EXPECTS ADJUSTED NET FINANCING COSTS OF APPROXIMATELY EUR 70 MILLION (2017: EUR 109 MILLION)​.IN Q2 2018, TO USE CASH AND DEPOSITS TO REDEEM PRINCIPAL OF ITS €750 MILLION, 6.375% SENIOR EUROBOND THAT MATURES ON APRIL 10.SEES ‍2018 CAPEX AT 5%-6% OF TOTAL REVENUES (2017: 4.8% INCLUDING REAL ESTATE DISPOSITIONS BENEFIT)​.AT DEC 31, 2017, OUR NET-DEBT-TO-EBITDA RATIO WAS 1.7X. 

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