REG - RWS Holdings PLC - AGM Statement

RWS HoldingsAnnouncement

22/02/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230222:nRSV6304Qa&default-theme=true

RNS Number : 6304Q  RWS Holdings PLC  22 February 2023

For immediate
release
22 February 2023

 

RWS Holdings plc

AGM Statement

RWS Holdings plc ("RWS", "the Group" or "the Company"), a unique world-leading
provider of technology-enabled language, content and intellectual property
services, is today holding its Annual General Meeting at which Andrew Brode,
Chairman, will make the following remarks:

"The Company delivered another robust set of results in FY22 against a
backdrop of continued economic uncertainty and the ongoing conflict in Eastern
Europe. The Group produced cash-generative, profitable growth in line with
market expectations, continued its unbroken record of dividend growth and made
good progress on the actions and investments that we set out at our Capital
Markets Day (CMD) in March 2022.

Current trading and outlook

"The Group continues to focus on delivering its medium-term strategy, despite
the continuing macroeconomic challenges. The investments that we outlined at
last year's CMD are progressing well and we are pleased to have completed the
first of our transformation programmes early in 2023, with a successful move
to a single Microsoft collaboration platform across the whole Group.

"Our full year outlook remains in line with market expectations¹, underpinned
by a number of new client wins and continued strong retention amongst existing
clients, albeit with certain projects now expected to start in the second
half. While trading in IP Services continues to be impacted by the advent of
the Unitary Patent (UP), it remains on track for the year, despite a short
delay to the UP's implementation which we now expect will come into operation
in June. These factors, together with the impact of our growth initiatives,
underpin our expectation of an acceleration of organic growth in the second
half.

"We remain pleased with the progress of our investments in technology where
the depth of experience we have in developing and training AI engines is of
increasing importance to our industry and to our clients. The forthcoming
launch of our enhanced AI data services offering will further position the
Group well to capitalise on the growth of AI solutions as highlighted at our
CMD last year.

"Our unique capabilities, diverse client base, geographical spread and
end-market exposure, combined with our strong cash generation and balance
sheet, underpin our resilience, our confidence in the opportunities provided
by the multiple growth drivers across our markets, and our ability to make
attractive acquisitions."

1 The latest Group-compiled view of analysts' expectations for FY 2023 gives a
range of £771.8m-£782.6m for revenue, with a consensus of £779.2m; a range
of £127.9m-£136.5m for adjusted profit before tax, with a consensus of
£133.3m, and a range of 24.5p to 26.6p for adjusted EPS, with a consensus of
25.9p.

 

RWS published its first standalone Environmental, Social and Governance Report
on 27 January 2023. This comprehensive review sets out our progress in FY22
and is available on the Group's website
(www.rws.com/about/corporate-sustainability/
(http://www.rws.com/about/corporate-sustainability/) ).

 

About RWS

RWS Holdings plc is a unique, world-leading provider of technology-enabled
language, content and intellectual property services. Through content
transformation and multilingual data analysis, our unique combination of
technology and cultural expertise helps our clients to grow by ensuring they
are understood anywhere, in any language.

Our purpose is unlocking global understanding. By combining cultural
understanding, client understanding and technical understanding, our services
and technology assist our clients to acquire and retain customers, deliver
engaging user experiences, maintain compliance and gain actionable insights
into their data and content.

We work with over 80% of the world's top 100 brands, more than three-quarters
of Fortune's 20 'Most Admired Companies' and almost all of the top
pharmaceutical companies, investment banks, law firms and patent filers. Our
client base spans Europe, Asia Pacific and North and South America. Our 65+
global locations across five continents service clients in the automotive,
chemical, financial, legal, medical, pharmaceutical, technology and
telecommunications sectors.

Founded in 1958, RWS is headquartered in the UK and publicly listed on AIM,
the London Stock Exchange regulated market (RWS.L).

For further information, please visit: www.rws.com (http://www.rws.com) .

 

RWS Holdings
plc
01753 480200

Andrew Brode, Chairman

Ian El-Mokadem, Chief Executive Officer

Candy Davies, Chief Financial Officer

MHP (Financial PR
advisor)
rws@mhpgroup.com

Katie Hunt / Simon
Hockridge
020 3128 8100

Numis (Nomad & Joint
Broker)
020 7260 1000

Stuart Skinner / Kevin Cruickshank / Will Baunton

Berenberg (Joint
Broker)
020 3207 7800

Ben Wright / Toby Flaux / Alix Mecklenburg-Solodkoff

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGMEAEAFAFKDEAA