REED ELSEVIER 2011 RESULTS
Reed Elsevier, the global professional information company, today issues its financial results for the year to 31 December 2011
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Financial highlights Ø Underlying revenue up 2% (3% excluding biennial exhibition cycling) Ø Underlying adjusted operating profit up 5%; up 4% at constant currencies Ø Adjusted EPS up 8% to 46.7p for Reed Elsevier PLC; up 6% to €0.83 for Reed Elsevier NV Ø Reported EPS up 19% to 32.4p for Reed Elsevier PLC; up 16% to €0.59 for Reed Elsevier NV Ø Full year dividend up 6% to 21.55p for Reed Elsevier PLC and €0.436 for Reed Elsevier NV Ø Net debt of £3.4bn; 2.3 times adjusted EBITDA (pensions and lease adjusted)
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Commenting on the results, Anthony Habgood, Chairman, said:
"Reed Elsevier continued its positive momentum in 2011. All five business areas contributed to underlying revenue growth excluding biennial cycling. Underlying operating profits grew well, and we delivered a good increase in earnings per share. Our cash flow generation has allowed us to invest in our businesses, while maintaining a strong balance sheet and we are recommending a 6% increase in the full year dividend. Our Chief Executive has continued to reshape his team with several new management appointments and I am confident that our actions will continue to strengthen our long term growth prospects."
