Wolters Kluwer Nv (WOLTF) Q2 2025 Earnings Call

Investor webinar replay

Watch the replay and follow the connected company analysis, news, and investor updates for Wolters Kluwer N.v..

Watch the replay

Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:04.439 Let's get right to it on slide six. 00:00:04.439 -- 00:00:09.729 First half revenues were 3 billion and 52 million euros, an increase of 6% in constant 00:00:09.729 -- 00:00:11.272 currencies. 00:00:11.272 -- 00:00:16.342 Organic growth was 5%, slightly lower than the prior period, as we had 00:00:16.342 -- 00:00:21.432 guided. This was largely due to a downturn in our non-recurring revenues, which I'll 00:00:21.432 -- 00:00:23.943 come back to in a moment. 00:00:23.943 -- 00:00:29.530 Adjusted operating profit was 865 billion euros, an increase of 14% 00:00:29.530 -- 00:00:31.453 in constant currencies. 00:00:31.453 -- 00:00:35.799 As a result, the margin increased by 190 basis points to 28.4%. 00:00:35.799 -- 00:00:37.799 The 00:00:38.743 -- 00:00:44.110 increase in adjusted operating profit drove a 14% rise in diluted adjusted 00:00:44.110 -- 00:00:47.365 earnings per share in constant currencies. 00:00:47.365 -- 00:00:52.433 Adjusted free cash flow was 505 million euros, up 13% 00:00:52.433 -- 00:00:57.641 in constant currencies, reflecting the increase in operating profit 00:00:57.641 -- 00:01:00.662 and higher cash conversion. 00:01:00.665 -- 00:01:06.855 Net debt to EBITDA increased to 2.1 times following the recent acquisitions. 00:01:06.855 -- 00:01:10.440 And lastly, return on invested capital increased to 18.5%. 00:01:10.440 -- 00:01:12.801 Now let's 00:01:12.884 -- 00:01:17.388 look at revenues by division on the next slide. 00:01:18.398 -- 00:01:24.367 Health grew 4% organically, slowing from 6% a year ago due to several factors. 00:01:24.367 -- 00:01:29.415 These include timing of up-to-date renewals, sharper print decline, and 00:01:29.415 -- 00:01:32.840 a challenging comparable in medical research. 00:01:32.840 -- ...