Wolters Kluwer issues news about its global professional information, software, and services business, represented in the U.S. by the WTKWY sponsored Level 1 ADR. Updates commonly cover healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG solutions.
Recurring items include trading updates by business area, annual report and AGM materials, Supervisory Board and executive changes, dividend proposals, portfolio actions, and technology investments. Company announcements also track AI-enabled offerings and platforms such as FAB, Expert AI capabilities in CCH Axcess and UpToDate, legal technology products including Legisway and Kleos, and cloud automation tools such as CodaBox, ClearFacts, Kyte, and Flowin.
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Wolters Kluwer celebrates the 9th Annual Code Games, with over 1,100 employees participating globally to drive innovation using advanced technologies like AI and blockchain. The event aims to generate solutions for diverse professionals, enhancing the company's next-gen offerings. CEO Karen Abramson remarked on the importance of innovation in meeting critical customer needs. Notable solutions from previous Code Games include CCH Axcess, Kleos, OneSumX, and Ovid Synthesis. The initiative reflects a commitment to high employee engagement and innovative culture.
Wolters Kluwer announced that Focused Photonics Inc. (FPI) has adopted the CCH® Tagetik Disclosure Management solution to enhance its compliance capabilities for annual filings and management reporting. This decision, made due to FPI's rapid expansion, reflects the need for automated disclosure management following a manual approach. CCH Tagetik was chosen for its leadership in customer experience and operational efficiency. The project will be implemented by EPM Venus, a CCH Tagetik partner in China, ensuring tailored solutions for FPI's complex systems.
Wolters Kluwer Legal & Regulatory U.S. has unveiled a significant expansion in corporate governance resources by launching a new treatise on the Foreign Corrupt Practices Act (FCPA). This comprehensive guide features over 30 appendices, including compliance tools and practical guidance for legal professionals. Ken Crutchfield, VP & GM, emphasized the resource's importance for navigating FCPA compliance, crucial for corporations facing legal risks. The inclusion of this treatise on the VitalLaw platforms is expected to enhance the company's offerings in legal compliance and risk management.
In response to rising inflation, Wolters Kluwer's BizFilings emphasizes the need for businesses to create value rather than solely cut costs or increase prices. Ivana Taylor from DIYMarketers.com warns that customers will resent price hikes without clear benefits. She suggests focusing on core selling points like trust and relationships while offering premium services or exclusive deals. With nearly 130 years in service, Wolters Kluwer CT Corporation supports small businesses globally with incorporation and compliance services, valued by a significant portion of Fortune 500 companies.
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Wolters Kluwer Compliance Solutions is hosting the 26th annual CRA & Fair Lending Colloquium from November 13-16 at Caesars Palace, Las Vegas. Keynotes from Michael J. Hsu, Acting Comptroller of the Currency, and James Ballentine, public policy expert, will address fair lending and CRA compliance challenges. The event highlights significant regulatory updates including the modernization of CRA regulations, aiming to enhance equitable access to credit. Attendees include regulatory experts, compliance officers, and industry leaders.
Wolters Kluwer reported €2,600 million in revenues for H1 2022, reflecting a 7% organic growth. Adjusted operating profit rose by 10% to €734 million, with an operating margin of 28.2%. Diluted adjusted EPS increased by 23% to €2.04. The company experienced slower spending and hiring, leading to a 4% decline in adjusted free cash flow at €497 million. An interim dividend of €0.63 was announced. The guidance for 2022 was upgraded, though growth momentum is expected to slow in the second half due to challenging comparables. Net debt remains healthy at €2,203 million.
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The fifth LegalVIEW Insights report from Wolters Kluwer ELM Solutions reveals ongoing challenges in the corporate law sector post-pandemic. Despite a reduction in active provider relationships, external legal spending increased by 36% in the last year. Large companies with over $20 billion in revenue have expanded their legal provider counts, while Am Law firms continue to lose market share. Unranked firms have increased their external legal department spend from 44% to 47.5%. The report highlights the concentration in the Alternative Legal Service Provider (ALSP) market, dominated by seven firms, representing only 4.7% of the total spend.