Wolters Kluwer is a provider of software solutions. This includes ‘tools’ that help professionals in areas such as health care, taxation and accounting. Wolters is also a publisher of books and magazines in, among other things, legal, tax and financial fields.
The company’s sales declined 2 percent in the first quarter compared to a year earlier. This was mainly due to the fluctuation of the dollar against the euro. Excluding currency effects, there would have been 4 percent revenue growth.
Grow under your own steam
The effect of previous acquisitions on the results was almost offset by parts that were disposed of in the meantime. Self-propelled growth also amounted to 4 percent. Book sales in particular picked up strongly. This was an increase of a quarter, but that was mainly due to the favorable timing of the contracts, explains Wolters Kluwer.
The company’s profit margin also improved. This was mainly due to temporary cost savings. For example, Wolters Kluwer spent less money on travel costs and events often did not take place. The operating result was 8 percent higher on an annual basis.
For the year as a whole, Wolters Kluwer continues to estimate that customer spending and economic activity will be moderate due to the corona problems. The recovery will only become more visible from the second half of the year.
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