Sale of Refinitiv to London Stock Exchange Group (LSEG). Reconciliation of Changes in Adjusted EBITDA to Changes on a Constant CurrencyBasis (4). Accrued capital expenditures divided by revenues, where accrued capital expenditures include amounts that remain unpaid at the end of the reporting period. The information in this section should also be read in conjunction with the section below entitled "Special Note Regarding Forward-Looking Statements, Material Risks and Material Assumptions.". Our products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals combined with the world's most global news service Reuters. Cision Distribution 888-776-0942 Growth percentages are computed using whole dollars. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Annual Information Forms for subsequent years are included within Thomson Reuters annual reports. When typing in this field, a list of search results will appear and be automatically updated as you type. Today, the company updated its revenue outlook for 2021 and reaffirmed its outlook for 2022 and 2023. Thomson Reuters does not currently intend to repurchase additional shares in 2021. Thomson Reuters is a leading provider of business information services. from 8 AM - 9 PM ET. As with all TRRI analysis, the findings have become a trusted and credible source of insight for firms, regulators, and their advisers worldwide. 2007 Annual Information Form 119.2 KB. See the section below entitled "Non-IFRS Financial Measures" for more information. Our revenues increased 6%, of which 5% was organic, reflecting sustained As a result, percentages and margins calculated from reported amounts may differ from those presented, and growth components may not total due to rounding. Conduct legal research efficiently and confidently using trusted content, proprietary editorial enhancements, and advanced technology. Adjustment to reflect income taxes based on estimated full-year effective tax rate. Net cash provided by operating activities increased as higher revenuesmore than offset higher tax payments and expenses, which included Change Program costs. You are cautioned not to place undue reliance on forward-looking statements which reflect expectations only as of the date of this news release. Operating profit decreased 73%, primarily because the prior year included significant gains from the sale of an investment and an amendment to a pension plan. Stock Price Performance; . Adjusted EBITDAincreased 25% to $146 million. Forecasts ranged between 38% and 40.9%. The metric excludes the distortive impacts of acquisitions and dispositions from not owning the business in both comparable periods. Material assumptions and material risks may cause actual performance to differ from the company's expectations underlying its business outlook. By signing up you agree to receive content from us. While the company believes that it has a reasonable basis for making forward-looking statements in this news release, they are not a guarantee of future performance or outcomes and there is no assurance that any of the other events described in any forward-looking statement will materialize. Material assumptions related to the company's adjusted EBITDA margin outlook are its ability to achieve revenue growth targets; the company's business mix continues to shift to higher-growth product offerings; Change Program expenses are. The annual report contains audited financial statements, management's discussion and analysis (MD&A) and other disclosures. Erdogan has urged monetary stimulus over the last several years, aiming to achieve price stability by slashing borrowing costs, boosting exports and flipping chronic current account deficits to surpluses. The annual report was also filed with the U.S. Securities and Exchange Commission on Form 40-F and is available at sec.gov. The ability of current and former membersof Refinitiv senior management to sell shares held by them is also subject to certain restrictions. About us; Annual report; Careers; Digital accessibility; Investor relations; Press releases; 2021 AFR rates. Adjusted EBITDA was unchanged from the prior-year period at $61 million. The company has provided an updated Outlook for the purpose of presenting information about current expectations for the periods presented. In each of the three and four years following the closing (starting on January 30, 2023 and January 30, 2024, respectively), Thomson Reuters and Blackstone's consortium will become entitled to sell in aggregate one-third of the LSEG shares issued to them. Automate sales and use tax, GST, and VAT compliance. The annual report contains audited. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements. ** Because Thomson Reuters reported a net loss for continuing operations under IFRS for the three months ended December 31, 2021, the weighted-average number of common shares used for basic and diluted loss per share is the same for all per-share calculations in the period, as the effect of stock options and other equity incentive awards would reduce the loss per share, and therefore be anti-dilutive. Our products are proving well suited to enable them to effectively serve their clients. * Fair value adjustments, a component of operating expenses, primarily represent gains or losses due to changes in foreign currency exchange rates on intercompany balances that arise in the ordinary course of business. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS, MATERIAL RISKS AND MATERIAL ASSUMPTIONS. The company received $51 million of dividends from its LSEG investment in June 2021 and an additional $24 million in October 2021. The magnitude of these items may be significant. Non-IFRS financial measures are defined and reconciled to the most directly comparable IFRS measures in the appended tables. In February 2021, the company announced a two-year Change Program to transition from a holding company to an operating company, and from a content provider to a content-driven technology company. Achieve organic revenue growth of 5% - 6%, including additional annual revenues of. Thomson Reuters Regulatory Intelligence has carried out its 12th annual survey on the cost of compliance, focusing on the challenges the compliance functions at financial services firms around the world expect to face in the year ahead. The annual report was filed with the Canadian securities regulatory agencies and is available at sedar.com. Diluted loss per share was $0.36 compared to diluted earnings per share of $1.13 in the prior-year period due to lower operating profit and a decrease in value of the company's LSEG investment, which is discussed in more detail in the "London Stock Exchange Group (LSEG) Ownership Interest" section of this news release. 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. Our products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals combined with the world's most global news service Reuters. View original content to download multimedia:https://www.prnewswire.com/news-releases/thomson-reuters-reports-fourth-quarter-and-full-year-2021-results-301477446.html, Plus500. See here for a complete list of exchanges and delays. Thomson Reuters Regulatory Intelligence's (TRRI) fifth annual survey on fintech, regtech and the role of compliance explores these issues. In 2021, Thomson Reuters returned a total of $2.2 billion of cash to shareholders through dividends and . Organic growth of 5% included an approximate 100bp benefit resulting from easier year-over-year comparisons due to the negative impact of COVID-19 on the business in 2020. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. These and other non-IFRS financial measures are defined and reconciled to the most directly comparable IFRS measures in the tables appended to this news release. Thomson Reuters will webcast a discussion of its first-quarter 2021 results and its business outlook today beginning at 8:30 a.m. Eastern Daylight Time (EDT). Adjusted EBITDA decreased 9% to $57 million. Adjusted EBITDAincreased 21% to $279 million. Represents changes in revenues of our existing businesses at constant currency. Operating profit declined 36%, primarily becausethe prior year included significant gains from the sale of an investment and from an amendment to a pension plan. Copies may also be requested by writing to Thomson Reuters Investor Relations, 3 Times Square, New York, NY, 10036, United States. endstream
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Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. In 2021, we met or exceeded each of the performance metrics in our business Outlook, which we initially communicated in February 2021 and updated in November 2021. Non-IFRS financial measures are defined and reconciled to the most directly comparable IFRS measures in the appended tables. Automate sales and use tax, GST, and VAT compliance. View report (PDF) September. Revenuesincreased 7% (all organic) to $361 million. at 9. We are targeting investment in products that are driving faster growth and where we have strong positions in growing markets, and we continue to look to supplement organic growth with targeted acquisitions that can bolster our positions and where we are an advantaged owner. The margin decreased to 49.8% from 51.1%, primarily due to higher performance bonus expense. The annual report contains audited financial statements, managements discussion and analysis (MD&A) and other disclosures. Material assumptions and material risks may cause actual performance to differ from the company's expectations underlying its business outlook, which reflects the global economic crisis caused by the COVID-19 pandemic. Cash and bank overdrafts at end of period comprised of: Reconciliation of Earnings from Continuing Operations to Adjusted EBITDA(1), (millions of U.S. dollars, except for margins), Reconciliation of Net Earnings to Adjusted Earnings(2), Reconciliation of Total Change in Adjusted EPS to Change in Constant Currency(4), (millions of U.S. dollars, except for share and per share data), Interim period effective tax rate normalization(3), Diluted weighted-average common shares (millions), Reconciliation of Net Cash Provided By Operating Activities to Free Cash Flow(5), Reconciliation of Net Debt and Leverage Ratio of Net Debt to Adjusted EBITDA(7), Remove transaction costs, premiums or discounts included in the carrying value of debt, Add: lease liabilities (current and non-current). Get your complimentary copy of the 2021 State of Corporate Law Departments report to discover how those highly successful departments thrived in adversity, and what lessons your department should take to prepare for further upheavals and transformations. A business management tool for legal professionals that automates workflow. The report has become the trusted and acknowledged voice of risk and compliance practitioners around the world. Consolidated Financial Highlights - Three Months Ended March 31, (Millions of U.S. dollars, except for adjusted EBITDA margin and EPS). In 2021, Thomson Reuters returned a total of $2.2 billion of cash to shareholders through dividends and share repurchases. As a result, the margin performance of this segment has been generally higher in the first and fourth quarters as costs are typically incurred in a more linear fashion throughout the year. Unless otherwise noted, all revenue growth comparisons by customer segment in this news release are at constant currency (or exclude the impact of foreign currency) as Thomson Reuters believes this provides the best basis to measure their performance. The margin decreased to 26.3% from 31.1%, primarily due to higher performance bonus expense. On January 29, 2021, Thomson Reutersand private equity funds affiliated with Blackstoneclosed the sale of Refinitiv toLSEGin an all-share transaction. Transactions revenues grew 7% (29% of total, all organic), primarily due to audit products. The margin increased to 41.8% from 36.7%, primarily due to higher revenues and benefits from 2020 cost-savings initiatives. 2017 Interactive Annual Report. The margin increased to 43.7% from 38.7%, primarily due to higher revenues and benefits from 2020 cost-savings initiatives. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. The 2021 YTD detail also includes an accrual of $8,000 for a legal case. TORONTO, March 10, 2022 /PRNewswire/ -- Thomson Reuters (TSX/NYSE: TRI) today filed its annual report for the year ended December 31, 2021. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. The Turkish Statistical Institute will announce May inflation data at 0700 GMT on June 5. 119 0 obj
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. Recurring revenues grew 4% (77% of total, all organic). Revenuesincreased 5% (all organic) to $668 million. This year's survey results represent the views and experiences of more than 400 compliance and risk practitioners. The . , . Cash flow from operations increased due to favorable movements in working capital (including lower bonus payments which were due to the impact of COVID-19 in 2020), higher revenues and cash savings from 2020 cost-reduction initiatives. 1 min read. Fill out this form and receive access to the full report. Thomson Reuters has set a target to maintain approximately 500 million common shares outstanding by using share repurchases to offset dilution associated with its dividend reinvestment and equity incentive plans. Forward-looking statements are subject to a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from current expectations. A 2021 research report by the FCA highlighted that, for those investing in high-risk products, "the challenge, competition, and novelty are more important than conventional, more functional reasons for investing, like wanting to make their money work harder or save for their retirement. Changes before the impact of foreign currency "constant currency". Get more accurate and efficient results with the power of AI, cognitive computing, and machine learning. Consolidated adjusted EBITDA is comprised of adjusted EBITDA for its business segments and corporate costs. Additional information regarding the Change Program is provided below. The proceeds from Thomson Reuters March 2021 sale of LSEG shares were distributed to Thomson Reuters as a dividend that reduced the value of the investment. Our Privacy Statement explains how we collect, use, disclose, and otherwise process your personal data, the consequences if you do not provide this data, and how you may be able to access or correct your personal data or complain about a violation of applicable laws. View original content to download multimedia:https://www.prnewswire.com/news-releases/thomson-reuters-files-2021-annual-report-301500145.html, Plus500. Payroll, compensation, pension & benefits, Fraud prevention, detection & investigations, Document retrieval & due diligence services, http://thomsonreuters.com/privacy_policy/, Do not sell or share my personal information and limit the use of my sensitive personal information, Traditional law departments struggled to adapt, Safeguarding the business becoming a top priority. The information in this section should also be read in conjunction with the section above entitled "Special Note Regarding Forward-Looking Statements, Material Risks and Material Assumptions. The demand increased in 2022 and we expanded into three more countries, supporting 18 organizations. Andrew Green The margin decreased from 40.5% to 39.9% due to the decline in revenues. The annual report . This information may not be appropriate for other purposes. View report (PDF) November. Head of Commercial Communications & Corporate Affairs. The company's outlook contains various non-IFRS financial measures. Revenues of $160 millionincreased 2%, all organic, primarily due to the segment's professional business. Thomson Reuters defines adjusted earnings as net earnings or loss including dividends declared on preference shares but excluding the post-tax impacts of fair value adjustments, amortization of other identifiable intangible assets, other operating gains and losses, certain asset impairment charges, other finance costs or income, Thomson Reuters share of post-tax earnings or losses in equity method investments, discontinued operations and other items affecting comparability.