Wolters Kluwer S/Adr

Good day and thank you for standing by. Welcome to this Water's Clearer full year 2025 results webcast. My name is Lauren and I will be your coordinator for today's event. Please note that for the duration of the call, your lines will be on listen only. To ask a question, press star 1 on your telephone keypad and you'll be put in a queue until your line is open. Please be advised that today's call is being recorded. I will now hand over to host Meg Jones, President Investor, to begin today's call. Please go ahead.

Hello, everyone, and welcome to our full year 2025 results presentation. Today's earnings release and the presentation slides are available on the investor section of our website, voltagecluer.com. On the call today are Nancy McKinstry, our CEO, Stacey Kaywood, our designated CEO, and Kevin Entrykin, our CFO. Nancy, Stacey and Kevin will present the important aspects of our results. After the presentation, we will take your questions. Before we start, I'll remind you that some statements we make today will be forward-looking. We caution that these statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in these statements. Factors that could affect HolderScore future financial results are disclosed in Note 2 of today's earnings release and in our annual reports. As usual, we refer to adjusted profits, which exclude non-benchmark items. We also refer to growth in constant currencies, which excludes the effect of exchange rate movements. And we refer to organic growth, which excludes both the effect of currency and the effect of acquisitions and divestments. Reconciliations to IFRS numbers can be found in Note 3 of today's release. At this time, I'd like to hand over to our CEO, Nancy McKinstry.

Thank you, Meg. Hello, everyone, and thank you for joining today's call. I'll start with a brief introduction summarizing the highlights of 2025. Next, Kevin will take you through the financial results in detail. After that, I'll return to cover the divisional performance and then hand off to Stacey, who will provide an update on our strategy and her near-term priorities as she takes over as CEO. She will finish with an outlook for 2026. So let's begin with the highlights on slide four. We delivered another year of good organic growth and an improvement in our adjusted operating profit margin. Recurring revenues, which account for 83% of total revenues, grew 7% organically. We've made significant progress in adding important generative and energetic AI capabilities into our integrated productivity platforms, leveraging our trusted proprietary content, our deep domain expertise, and our advanced AI technology. Today, nearly 70% of our digital revenues are from AI-powered solutions. Among our many innovations last year were up-to-date expert AI and CCH access expert AI, which embed our AI technology and provide significant productivity benefits while keeping experts in the loop. Last year's acquisitions, Razzie, Bright Flag, and Libra, are all performing strongly and are offering new growth opportunities. All in all, it was a good year financially, during which we made significant progress on our AI strategy. I'll now hand to Kevin to cover the financials.