Wolters Kluwer 2024 Half-Year Report Alphen aan den Rijn, July 31, 2024 – Wolters Kluwer, a global leader in professional information, software solutions and services, today releases its half-year 2024 results. Highlights Group-level guidance for 2024 reiterated. Revenues €2,891 million, up 6% in constant currencies and up 6% organically. Recurring revenues (82% of total revenues) grew 7% organically. Expert solutions (59% of total revenues) grew 8% organically. Cloud software (18% of total revenues) grew 16% organically. Adjusted operating profit €765 million, up 8% in constant currencies. Adjusted operating profit margin up 40 basis points to 26.5%. Diluted adjusted EPS €2.36, up 9% overall and up 11% in constant currencies. Adjusted free cash flow €445 million, down 10% in constant currencies. Lower cash conversion partly reflects timing of large vendor payments. Net-debt-to-EBITDA of 1.6x; Return on invested capital (ROIC) improved to 17.5%. Interim dividend €0.83 per share, set at 40% of prior year total dividend. On track to complete 2024 share buyback of €1 billion. Wolters Kluwer Tax & Accounting to acquire European software solutions for €325 million. Interim Report of the Executive Board Nancy McKinstry, CEO and Chair of the Executive Board, commented: "We sustained organic growth of 6% in the first six months and improved our adjusted operating profit margin while increasing product investment. Several of our largest solutions have introduced enhancements that harness the power of generative AI to bring greater value and efficiency to customers. We also invested in rolling out solutions that support customers with new regulations, such as the U.S. Corporate Transparency Act and the E.U. Corporate Sustainability Reporting Directive. I am pleased to report that we are on track to meet our 2024 guidance." Key Figures – Six months ended June 30 € million (unless otherwise stated) 2024 2023 ∆ ∆ CC ∆ OG Business performance – benchmark figures           Revenues 2,891 2,725 +6% +6% +6% Adjusted operating profit 765 711 +8% +8% +7% Adjusted operating profit margin 26.5% 26.1%       Adjusted net profit 566 537 +5% +7%   Diluted adjusted EPS (€) 2.36 2.17 +9% +11%   Adjusted free cash flow 445 495 -10% -10%     Net debt 2,932 2,466 +19%     ROIC 17.5% 15.4%       IFRS reported results           Revenues 2,891 2,725 +6%     Operating profit 690 632 +9%     Profit for the period 509 479 +6%   ...