Wolters Kluwer 2023 Shares Nine-Month Trading Update; Reports 5% Organic Growth

Wolters Kluwer, the professional information, software solutions and services provider, today released its scheduled 2023 nine-month trading update. Guidance for 2023 was reiterated and nine-month revenues were up 5% organically. Recurring revenues (82% of total revenues) were up 7% organically; digital & services revenues (94% of total) were up 6% organically and expert solutions revenues (58% of total) were up 7% organically.

Nancy McKinstry, CEO and Chair of the Executive Board, commented: “In the first nine months, we have sustained strong organic growth in our important recurring revenue streams across all five divisions. The down-cycle in transactional revenues has lasted longer than we expected, but we are nonetheless on track to deliver good organic growth and margin improvement for the full year. Investments in product development, including in artificial intelligence, were maintained at high levels as we continue to see exciting opportunities to grow our business and support our professional customers in the years ahead.”

It has been a busy week for the Dutch technology firm. On Monday the company opened the trading session on Euronext Amsterdam – the world’s oldest stock exchange – with the sounding of the ceremonial gong. The ceremony celebrated the technology company’s 50th year of listing on the Exchange and Nancy McKinstry’s 20th year as Wolters Kluwer CEO and Chair of the Board.

CEO McKinstry has been the architect of Wolters Kluwer’s successful digital transformation for two decades. Only eight other companies in the S&P Global 1200 (which represents over 70% of the global market cap) have a CEO with at least 20 years of continuous service at the same company. McKinstry also holds the distinct honor of being the longest-serving female CEO of a publicly traded Dutch company.

In her 20 years as CEO, McKinstry has transformed the company through print, to online, and digital, towards its current day position as an expert solutions company. “Under McKinstry’s leadership, Wolters Kluwer has won multiple independent industry awards, is consistently recognized for its inclusive company culture, and has embedded a relentless drive for technology innovation within its culture,” commented Paul Lyon, Senior Director, External Communications for Wolters Kluwer. “In fact, approximately 50% of Wolters Kluwer digital revenues are derived from solutions that leverage Artificial Intelligence.”

And yesterday the company announced it has signed and completed the acquisition of MFAS, a Dutch provider of practical tax content solutions and productivity tools. MFAS will become part of Wolters Kluwer Legal & Regulatory Benelux, which is a leading provider of information solutions and software serving legal and tax professionals in the Netherlands.