REG - RWS Holdings PLC - AGM Statement

RWS HoldingsAnnouncement

22/02/2024 07:00

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RNS Number : 0066E  RWS Holdings PLC  22 February 2024

For immediate
release
22 February 2024

 

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 Julie Southern,
Chairman, will make the following remarks:

"The Company made positive progress in delivering its medium-term strategy
during FY23, particularly in respect of its client wins, traction with
technology and growth initiatives, as well as with regards to its
transformation programme, drive for further efficiencies and portfolio
expansion. The Group continued to demonstrate considerable resilience against
a backdrop of global uncertainty with increasing dividends and returning
excess capital to shareholders through a share repurchase programme, as well
as continuing to invest in the business, organically and through acquisitions.

Current trading and outlook

 

"The full year outlook remains in line with the Board's expectations. Whilst
we remain mindful of the macroeconomic environment and the continuing market
pressures seen in the prior year, client retention and satisfaction remain
high, our growth initiatives are contributing incremental revenue and we
continue to make progress with transforming the Group into a scalable platform
to support growth and profitability.

"We continue to see clear opportunities for the Group to strengthen leadership
in its markets, and we remain well-placed to succeed through the wide range of
technology-enabled services that we offer in our fast-moving markets. In
January we successfully completed the beta programme for Evolve (our
groundbreaking linguistic AI solution which offers significant efficiency
gains for global enterprises with substantial translation demands) and are
already beginning to see some early wins with enterprise-level clients,
helping them safely harness the benefits of AI.

"The Group remains cash generative and has a strong balance sheet. We are
leaders in the majority of markets that we serve and are confident of the
opportunities for growth, underpinned by the long-term structural drivers of
demand for our products and services, and our unique combination of human
expertise and technology. With our global scale and reach and diverse
portfolio of solutions, clients and end markets, we are confident in the
prospects of the Group."

Board appointments

As previously announced Lara Boro, Senior Independent Director, will step down
as a Non-executive Director of the Company at the Annual General Meeting after
6 years on the Board.  The Company will announce the appointment of Lara's
successor as Senior Independent Director in due course.  Following the
appointment of Paul Abbott and Graham Cooke as independent Non-executive
Directors with effect from 1 January 2024, the Board has agreed that Paul will
join the Remuneration Committee and Graham will join the Audit Committee in
addition to their membership of the Nomination Committee.

 

 

 

 

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

RWS Holdings
plc
01753 480200

Julie Southern, Chairman

Ian El-Mokadem, Chief Executive Officer

Candida Davies, Chief Financial Officer

MHP (Financial PR
advisor)
                            rws@mhpgroup.com

Katie Hunt / Eleni Menikou / Catherine Chapman
                            020 3128 8100

 
            07884 494112

 

Deutsche Numis (Nomad & Joint
Broker)
                            020 7260 1000

Stuart Skinner / Will Baunton

Berenberg (Joint
Broker)
                            020 3207 7800

Ben Wright / Toby Flaux / Milo Bonser

 

About RWS

RWS Holdings plc is a unique, world-leading provider of technology-enabled
language, content and intellectual property solutions. Through content
transformation and multilingual data analysis, our combination of AI-enabled
technology and human 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.

Over the past 20 years we've been evolving our own AI solutions as well as
helping clients to explore, build and use multilingual AI applications. With
45+ AI-related patents and more than 100 peer-reviewed papers, we have the
experience and expertise to support clients on their AI journey.

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, Africa 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).

 

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