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Wolters Kluwer Wolters Kluwer 2021 Half - Year Report August 4 , 2021 - Wolters Kluwer , a global leader in professional information , software solutions , and services , today releases its half - year 2021 results . Highlights Revenues € 2,280 million , up 6 % in constant currencies and up 5 % organically . - Recurring revenues ( 81 % of total revenues ) up 5 % organically ; non - recurring up 4 % organically . - Digital & services revenues ( 93 % ) grew 5 % organically . - Expert solutions ( 55 % ) grew 6 % organically , excluding revenues associated with the PPP¹ . Adjusted operating profit € 613 million , up 14 % in constant currencies . - Adjusted operating profit margin up 170 basis points to 26.9 % . - Margin increase reflects operational gearing and both temporary and structural cost savings . Diluted adjusted EPS € 1.66 , up 4 % overall and up 19 % in constant currencies . Adjusted free cash flow € 476 million , up 54 % in constant currencies , reflecting improved collections compared to a year ago . Balance sheet and liquidity further strengthened with recent refinancing actions . Net - debt - to - EBITDA 1.7x ( FY 2020 : 1.7x ) . Interim dividend € 0.54 per share , set at 40 % of prior year total dividend . Share buyback : € 229 million of 2021 program of up to € 350 million repurchased to date . Guidance for 2021 updated and increased . ( See page 2 ) . Half - Year Report of the Executive Board Nancy McKinstry , CEO and Chairman of the Executive Board , commented : " I am delighted to report that the first half has seen a faster - than - expected recovery from the pandemic . Growth in recurring revenues has proved to be resilient , while most non - recurring revenue streams posted a strong rebound against declines in the comparable period . With our markets recovering and new sales picking up , we expect underlying operating costs to rise in the second half as we invest to support growth . " Key Figures - Six months ended June 30 € million ( unless otherwise stated ) Business performance - benchmark figures Revenues Adjusted operating profit Adjusted operating profit margin Adjusted net profit Diluted adjusted EPS ( € ) Adjusted free cash flow Net debt IFRS reported results Revenues Operating profit Profit for the period Diluted EPS ( € ) 2021 2,280 613 26.9 % 437 1.66 476 2,417 Wolters Kluwer 2021 Half - Year Results 2,280 519 360 1.37 613 2020 2,294 577 25.2 % 426 1.59 336 2,247 2,294 500 374 1.40 491 A -1 % + 6 % + 3 % + 4 % + 42 % + 8 % -1 % + 4 % -4 % -2 % + 25 % A CC + 6 % + 14 % + 16 % + 19 % + 54 % A OG + 5 % + 13 % Net cash from operating activities A : % Change ; A CC : % Change in constant currencies ( € / $ 1.14 ) ; A OG : % Organic growth . Benchmark figures are performance measures used by management . See Note 4 for a reconciliation from IFRS to benchmark figures . 1 Throughout this document , PPP refers to the U.S. Small Business Association ( SBA ) Paycheck Protection Program established by the 2020 U.S. CARES Act . Wolters Kluwer Compliance Solutions ( part of Governance Risk & Compliance ) supported its bank customers in lending under this program . The PPP was reopened on January 11 , 2021 , and was ended on May 31 , 2021 . Page 1 of 34