Material risks related to the companys adjusted EBITDA margin outlook are the same as the risks above related to the revenue outlook; the costs to execute the Change Program may be higher than current expectations or the expected benefits by 2023 may be lower than current expectations; and acquisition and disposal activity may dilute the companys adjusted EBITDA margin. While the company cancelled or postponed nearly all in-person conferences, primarily in its Reuters Events business, many of these events were replaced with virtual meetings. . Material assumptions related to the companys revenue outlook are that there will be diminished economic activity through the second quarter followed by a gradual recovery through the second half of 2020; the financial and operational health of the companys customer base in both the U.S. and global economies will gradually improve, which the company believes will coincide with the easing of lockdowns and other restrictions; the company will incur limited cancellations of subscription contracts during the economic crisis, as its products and services will remain critical for legal and tax professionals; during the extended work from home period, Thomson Reuters customers will continue to access the companys products remotely and will value high quality information and tools that drive productivity and efficiency; the company will maintain its ability to acquire some new customers during the economic crisis, as it enhances its digital platforms and propositions or through other sales initiatives; Reuters News will experience a significant reduction in demand in its Reuters Events business due to the cancellation of in-person events, as well as lower demand in its consumer and news agency business; Thomson Reuters workforce will continue to be effective in a remote working environment for an extended period, including the ability to implement new products and service and support existing products for the companys customers; the companys Global Print facility will continue to remain open and its Reuters News journalists will continue to be able to report on global events; customer requested shipment delays of print materials will be temporary and that shipments delayed in the second quarter will resume in the third and fourth quarters of 2020; a limited number of Thomson Reuters smaller customers will be unable to pay the company or will seek financial accommodations or alternative payment terms due to their financial condition; and customers will continue to seek software-as-a-service or other cloud-based offerings. Refinitiv acquired Advisor software in July 2020 and Red Flag Group in October 2020. For purposes of those financial results, Thomson Reuters removed these amounts from its non-IFRS calculation of adjusted EPS. In addition, the first half of 2020 benefited from some favorable timing items that are not expected to continue. Annual Reports | NetApp Corporate costs at the adjusted EBITDA level were $37 million compared to $138 million in the prior-year period. Data Provided by Refinitiv. The margin decreased from 44.1% to 40.5% due to the decline in revenues. Total company revenues and total organic revenues for the first quarter of 2021 are expected to increase between 1.5% and 2.5%, primarily impacted by a decline in Global Print revenue of between 13% and 15%. Data Provided by Refinitiv. We are currently reviewing your application. FY 2020 Annual Review (Form 10K) 786.5 KB. Golden Please resubmit your details and we will send you a new email. Our products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals combined with the worlds most global news service Reuters. Get more accurate and efficient results with the power of AI, cognitive computing, and machine learning. For more information on how LSEG uses your data, see our Privacy Statement. Raising the bar on big data and analytics is big business - and getting bigger - as it is key in the decision-making process. Thailand & Laos: +662 844 9576. Achieve organic revenue growth of 5% - 6% including additional annual revenues of $100 million; Achieve an Adjusted EBITDA margin of 38% - 40%; Achieve free cash flow of $1.8 billion - $2.0 billion; Achieve annual operating expense savings of $600 million, of which $200 million is expected to be reinvested in growth initiatives; and. These changes impacted the 2019 financial results of the segments but did not change the consolidated 2019 financial results. Please try again or contact us for further assistance. Adjusted EBITDA margin of 38% - 40% in 2023 2017 Annual Report 2.8 MB. . Complete EDGAR and SEDAR collections. Please try again orcontact usfor further assistance. Discover the teams you could join and the roles you could play. Minimum 15 minutes delayed. On October 1, 2018, the company sold a 55% interest in its F&R business to private equity funds affiliated with Blackstone. Data Provided by Refinitiv. Data Provided by Refinitiv. See the section below entitled Non-IFRS Financial Measures for more information. The $6 million in delayed revenues was recorded in July and will be reflected in the segments third-quarter results. As these print materials have historically been viewed as critical content by law firms and government agencies, the company currently expects most of these shipments will eventually take place by the end of 2020. 2021 Annual Report. Download Library; Share; RSS News Feeds; Print; Facebook; LinkedIn; Twitter; RSS; Close. Optimize operations, connect with external partners, create reports and keep inventory accurate. Many of these risks, uncertainties and assumptions are beyond the companys control and the effects of them can be difficult to predict. Content Provider to Content-Driven Technology Company, 2021-2023 Outlook Provided* The words will, expect, believe, target, estimate, could, should, intend, predict, project and similar expressions identify forward-looking statements. Read about LSEG's complete & up-to-date annual reports providing an overview of our business strategy, and the markets and environment in which we operate. Unique coverage from relationships with filings sources. We want our products to provide you optimum efficiency. This information may not be appropriate for other purposes. Thats why we invest in our community-driven open platform. Talk to a real person and get the answers that matter most. The magnitude of these items may be significant. The companys Big 3 segments (Legal Professionals, Corporates and Tax & Accounting Professionals), which collectively comprised 79% of total revenues, reported organic revenue growth of 5%. +1 646 223 5288 Thomson Reuters financial results for the fourth quarter and full-year 2020 (which reflect periods prior to the closing of the sale of Refinitiv to LSEG) include its share of post-tax losses from its previous 45% interest in Refinitiv, which was then considered an equity method investment, in its net earnings. In 2020, the global I again want to express my appreciation to our employees for their flexibility, fortitude and ongoing support of our customers as they shifted from the office to working from home. Material risks related to the companys adjusted EBITDA margin outlook are the same as the risks above related to the revenue outlook; the costs of required investments exceed expectations or actual returns are below expectations; acquisition and disposal activity may dilute the companys adjusted EBITDA margin; and the companys cost savings programs may be insufficient to offset lost revenues. Relentless. +612 8066 2494 david.crundwell@tr.com, INVESTORS As initially disclosed by the company on October 31, 2019, a misstatement was identified in the third quarter of 2019 that understated the companys share of Refinitivs post-tax losses since the fourth quarter of 2018. . Organic revenue growth of 5% - 6% in 2023 Thomson Reuters today increased its full-year 2020 outlook for free cash flow and reaffirmed all other metrics for full-year 2020 that it previously communicated on May 5, 2020. Japan: +813 6743 6515 2006 Annual Report and Form 10-K - Indexed (4MB total) Add Files. Data Provided by Refinitiv. Revenues increased 6% (5% organic) to $329 million, primarily due to strong recurring revenue growth. Chile:+56 2 24838932 Material risks related to the companys revenue outlook are that business disruptions associated with the COVID-19 pandemic, including government enforced quarantines and stay-at-home orders, may continue longer than the company expects or may be interrupted by future outbreaks and resurgences of the virus, delaying the anticipated recovery of the global economy; global economic uncertainty due to the COVID-19 pandemic as well as related regulatory reform and changes in the political environment may lead to limited business opportunities for the companys customers, creating significant cost pressures for them and potentially constraining the number of professionals employed, which could lead to lower demand for Thomson Reuters products and services; demand for the companys products and services could be reduced by changes in customer buying patterns or in its inability to execute on key product design or customer support initiatives; competitive pricing actions and product innovation could impact the companys revenues; and the companys sales, commercial simplification and product initiatives may be insufficient to retain customers or generate new sales. The companys Big 3 segments (Legal Professionals, Corporates and Tax & Accounting Professionals) collectively are expected to achieve revenue growth and organic growth between 3.0% and 4.0% in the third quarter of 2020. 2020 Annual Report. 2017 Annual Report. Other than EPS, the company reports its results in millions of U.S. dollars, but computes percentage changes and margins using whole dollars to be more precise. MEDIA Recurring revenues grew 6% (87% of total), all organic. A quarterly dividend of $0.38 per share is payable on September 15, 2020 to common shareholders of record as of August 20, 2020. BISMARCK, N.D. - The state-owned Bank of North Dakota (BND) reported total record assets of $10.2 billion at year-end 2022. The company believes that providing reconciliations of forward-looking non-IFRS financial measures in its outlook would be potentially misleading and not practical due to the difficulty of projecting items that are not reflective of ongoing operations in any future period. Bank of North Dakota releases 2022 Annual Report The margin increased to 37.5% from 34.5%, primarily due to higher revenues. Thomson Reuters believes that this type of guidance provides useful insight into the performance of its businesses. By submitting your details, you are agreeing to receive communications about Refinitiv resources, events, products, or services. Consequently, for outlook purposes only, the company is unable to reconcile these non-IFRS measures to the most comparable IFRS measures because it cannot predict, with reasonable certainty, the 2021, 2022 and 2023 impacts of changes in foreign exchange rates which impact (i) the translation of its results reported at average foreign currency rates for the year, and (ii) other finance income or expense related to intercompany financing arrangements. Argentina:+54 11 53546700 Diluted EPS decreased to $1.13 per share from $2.64 per share in the prior-year period, as the prior-year period included a $1.2 billion non-cash deferred tax benefit associated with the reorganization of certain foreign operations. Head of Corporate Affairs Operating profit increased due to a significant gain from the sale of an investment, a gain from an amendment to a pension plan and lower costs, in addition to higher revenues. Data Provided by Refinitiv. Next page next Last page last Should you wish to receive a hard copy version of the annual report, please contact CrossAmerica Partners, Investor Relations at 610-625-8005 or . This year's report was released in March 2023. The Where We Are on TV report analyzes the number of LGBTQ characters on primetime scripted series on broadcast networks, primetime scripted series on cable networks and scripted series on streaming services for the 2022-2023 TV season. Our comprehensive Data Catalogue offers you the industry's largest portfolio of real-time, pricing, reference, time series, and machine-readable content, as well as company, research, news and ESG data. 2010 Annual Report 884.8 KB. Material assumptions and material risks may cause actual performance to differ from the companys expectations underlying its business outlook, which reflects the global economic crisis caused by the COVID-19 pandemic. frank.golden@tr.com. Thomson Reuters is a leading provider of business information services. Thomson Reuters annual and quarterly reports are also available in the Investor Relations section of www.thomsonreuters.com. Thank you for registering. Colombia:+57 1 4419404, Europe, Middle East, Africa The company believes that providing reconciliations of forward-looking non-IFRS financial measures in its outlook would be potentially misleading and not practical due to the difficulty of projecting items that are not reflective of ongoing operations in any future period. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements, including those related to the COVID-19 pandemic. Essential employees who cannot work from home, such as Reuters News journalists and those working in the companys Global Print facilities, follow various health and safety standards. Revenues decreased 17% to $134 million, as expected, due to the continuing delay in shipments of content. As participants of the UN Global Compact, Refinitiv is part of a community of 9,000+ businesses across 135 countries that are committed to operating with responsible business practices at its core. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements, including those related to the COVID-19 pandemic. Adjusted EBITDA was $6 million, down $4 million from the prior-year period, primarily due to non-recurring costs incurred in the quarter. Thomson Reuters 2021 Annual Report Actual results, which include the impact of currency and acquisitions and dispositions completed during 2020, may differ materially from the companys outlook. Refinitiv announces sustainability report outlining progress on 2020 targets. Recurring revenues grew 5% (94% of total), driven by organic revenue growth of 3% and contributions from HighQ and Pondera, which were acquired in July 2019 and March 2020, respectively. This information may not be appropriate for other purposes. Chile:+56 2 24838932 Predator. Many of these risks, uncertainties and assumptions are beyond the companys control and the effects of them can be difficult to predict. 2020 Annual Report on Form 10-K 1.8 MB. . Minimum 15 minutes delayed. Taiwan: +886 2 7734 4677 Thomson Reuters Reports Fourth-Quarter and Full-Year 2020 Results [PDF], Q4 2020 Reconciliation of Non-IFRS Financial Measures [PDF], Payroll, compensation, pension & benefits, Fraud prevention, detection & investigations, Document retrieval & due diligence services, Do not sell or share my personal information and limit the use of my sensitive personal information, (Millions of U.S. dollars, except for adjusted EBITDA margins), Depreciation & AmortizationofComputer Software. Despite challenges from the ongoing COVID-19 pandemic, our 2020 performance reaffirmed the resilience of our markets and businesses and enabled us to meet or exceed each of the financial guidance metrics we provided throughout the year. By submitting this form you are acknowledging that you have read and agree to ourprivacy statement. 2005 Annual . Burn. [15] 2020 Annual Report (PDF) 9.7 MB. 2008 Annual Report. 2020 Annual Report 1.3 MB. Minimum 15 minutes delayed. 2016 Annual Report . The Big 3 total revenue growth and organic revenue growth in the first quarter is forecast to range between 4% and 5%. Fast track case onboarding and practice with confidence. Lower costs reflected the completion of the repositioning of the company in 2019 following the separation from its former Financial & Risk (F&R) business, which is now the Refinitiv business of London Stock Exchange Group (LSEG). Discover webinars to keep you informed of the latest insights, development, tools and workflows. 2019 Annual Report 1.3 MB. Millions 2022 2021 2020; Cash from Operating Activities: 12.201: 6.549-1.74223: Financing Cash Flow Items: 0: 0-0.88303: Cash from Investing Activities-11.81 Ghana. Transactions revenues declined 11% (13% of total), primarily due to lower software implementation revenues. Additional information regarding Refinitivs financial results is provided in the appendix to this news release. Minimum 15 minutes delayed. Revenues of $285 million increased 6% (8% organic), primarily due to strong recurring revenue growth of 7%, which included a 2% benefit from the accelerated release of some UltraTax state tax software from January to December to align with the traditional December release of the segments US Federal Government software. Revenues increased 2% as growth in recurring revenues more than offset declines in transactions and Global Print revenues. Annual Information Forms for subsequent years are included within Thomson Reuters annual reports. (1) The company increased its free cash flow outlook from ~$1.0 billion to $1.0-$1.1 billion as part of this news release. Material assumptions related to the companys revenue outlook are that there will be improved global economic conditions throughout 2021 to 2023, despite periods of volatility due to disruption caused by COVID-19 and the measures intended to mitigate its impact; there will be a continued need for trusted products and services that help customers navigate evolving and complex legal, tax, accounting, regulatory, geopolitical and commercial changes, developments and environments, and for cloud-based digital tools that drive productivity; Thomson Reuters will have a continued ability to deliver innovative products that meet evolving customer demands; the company will acquire new customers through expanded and improved digital platforms, simplification of the product portfolio and through other sales initiatives; and the company will improve customer retention through commercial simplification efforts and customer service improvements. PDF Green lending review The company has approximately 500,000 customers that are largely comprised of legal and tax professionals in corporations and professional service firms, many of whom are also working remotely. An archive of the webcast will be available following the presentation. Stockholder Services. 2020 LSEG Annual Report 2020 Download: 2019 LSEG Annual Report 2019 . 2019 Annual Report. India, Bangladesh, Nepal, Maldives & Sri Lanka: Additionally, the company cannot reasonably predict the occurrence or amount of other operating gains and losses, which include fair value adjustments relating to the warrants the company holds in Refinitiv as well as gains or losses that generally arise from business transactions that the company does not currently anticipate. The companys products enable its customers to remain productive while they work remotely because they can access most Thomson Reuters products and services through the Internet. Thomson Reuters prepares its financial statements in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB). Data Provided by Refinitiv. 2020 Annual Report on Form 10-K 1.8 MB. Upon the closing of this transaction, Thomson Reuters is projected to indirectly own approximately 82.5 million LSEG shares, which would have a market value of approximately $9.1 billion based on LSEGs closing share price on August 4, 2020. Transitioning from donor aid for health: perspectives of national stakeholders . 2011 Annual Report 1.2 MB. Refinitiv is also a member of the Technical Expert Group (TEG) on Sustainable Finance advising the European Commission on the sustainable agenda alongside other private sector experts. Global coverage for over 138 developed and emerging markets. Revenues decreased 1% as growth in recurring revenues was more than offset by expected declines in Global Print and transactions revenues, as well as a negative impact from foreign currency that reduced revenues by $21 million (approximately 1%). Material risks related to the companys free cash flow outlook are the same as the risks above related to the revenue and adjusted EBITDA margin outlook; capital expenditures may be higher than currently expected resulting in higher cash outflows; the timing and amount of tax payments to governments may differ from the companys expectations; a significant deterioration in the macroeconomic environment could negatively impact the ability of Thomson Reuters customers to pay the company leading to reduced free cash flow and the tightening of credit markets could limit the companys ability to bridge gaps in payments leading to unexpected operational impacts on its business. 2019 Annual . Their need for trusted, authoritative always-on actionable content combined with unique data, AI/machine learning and software will only increase a real opportunity for us to better serve our customers. Adjusted EBITDA decreased 25% to $54 million. Minimum 15 minutes delayed. Refinitivs annual sustainability report tracks progress on its year-end 2020 targets, which were publicly announced in January 2019 asthree core pledgeson environment, social impact and sustainable initiatives, in support of the United Nations Sustainable Development Goals (UN SDGs). Annual Reports . Forward-looking statements, including those related to the COVID-19 pandemic, are subject to a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from current expectations. The firm has more than doubled engagement with its community support programs, from 8 percent to 17 percent, has reduced carbon emissions by 11 percent despite an increase in footprint, expanded its suite of sustainable finance products, launchedRefinitiv Charities, has 40% women at the executive leadership level, and continues to support and promote an inclusive workplace that embraces diversity of every kind including the introduction of a 25% global race target at senior leadership level by 2024. Global airlines more than double 2023 profit outlook | Reuters Up to 55 years of history and 38 million documents.
