TIDMRWS
RNS Number : 1882Q
RWS Holdings PLC
26 October 2021
For immediate release 26 October 2021
RWS Holdings plc
Year End Trading Statement & Notice of Results
A strong performance with profit ahead of expectations
RWS Holdings plc ("RWS", "the Group"), the world's leading
provider of technology-enabled language, content management and
intellectual property support services, today provides an update on
trading for the year ended 30 September 2021, ahead of the
announcement of its full year results.
Adjusted profit before tax(1) for the year is expected to be
ahead of market consensus(2) , with revenue within the range of
market expectations(2) . This performance reflects a stronger than
expected margin driven by both an improved margin mix and the early
stages of operational efficiencies from the integration of SDL into
the Group.
The Group remains highly cash generative, resulting in a
movement from net debt (excluding lease liabilities) of GBP15.1
million as at 30 September 2020 to net cash of c.GBP45 million as
at 30 September 2021, after acquisition costs and the costs of
delivering synergies following the acquisition of SDL. Net debt,
including lease liabilities, is expected to be c.GBP3 million.
Notice of Full Year Results
RWS will provide a further update with its full year results on
14 December 2021. To register your interest in attending the
results presentation, please email rws@mhpc.com .
Ian El-Mokadem, Chief Executive Officer of RWS, commented:
"The Group has delivered strong results, with a robust revenue
performance combined with a stronger than anticipated margin,
following the acquisition of SDL.
"Following a good few months in the business, it is clear to me
that I have joined RWS in a strong position, with an excellent team
in place to drive the business forward and build on its leadership
of its growing, fragmented markets, alongside a healthy cash
position to support the Group's strategy.
"We look forward to providing an update, in a capital markets
day in the first quarter of next year, on our plans to continue to
build upon the Group's strong position and track record."
(1) Adjusted profit before tax is stated before amortization of
acquired intangibles, acquisition costs, share-based payment
expenses, net gain/loss on debt modification and exceptional
items.
(2) The latest company-compiled view of analysts' expectations
for the year ended 30 September 2021 gives a range of
GBP694.0m-GBP711.3m for revenue, with a consensus of GBP699.7m, and
a range of GBP109.8m-GBP113.2m for adjusted profit before tax, with
a consensus of GBP111.6m.
RWS Holdings plc
Andrew Brode, Chairman
Ian El-Mokadem, Chief Executive
Officer
Des Glass, Chief Financial Officer 01753 480200
MHP (Financial PR advisor) rws@mhpc.com
Katie Hunt / Simon Hockridge 020 3128 8100
Numis (Nomad & Joint Broker)
Stuart Skinner / Kevin Cruickshank / Will Baunton 020 7260 1000
Berenberg (Joint Broker)
Ben Wright / Toby Flaux / Alix Mecklenburg-Solodkoff 020 3207 7800
About RWS
RWS Holdings plc is the world's leading provider of
technology-enabled language, content management and intellectual
property services. We help our customers to connect with and bring
new ideas to people globally, by communicating business critical
content at scale and enabling the protection and realization of
their innovations.
Our vision is to help organizations interact effectively with
people anywhere in the world, by solving their language, content
and market access challenges through our collective global
intelligence, deep expertise and smart technology.
Customers include 90 of the globe's top 100 brands, the top 10
pharmaceutical companies and approximately half of the top 20
patent filers worldwide. Our client base spans Europe, Asia
Pacific, and North and South America across the technology,
pharmaceutical, medical, legal, chemical, automotive, government,
and telecommunications sectors, which we serve from offices across
five continents.
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 .
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END
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