RWS (RWS) Trading Update summary

FY24 performance and financial highlights

• Returned to growth in H2, with organic constant currency revenue up 2% after a -2% decline in H1, resulting in full-year revenue in line with the prior year.

• Regulated Industries and Language & Content Technology segments showed meaningful improvements in H2.

• AI-led products, especially TrainAI, Language Weaver, and Evolve, saw strong progress and growth.

• Reported FY24 revenues expected at £718m, a 2% decline due to adverse currency movements; adjusted PBT within market expectations before currency impact.

• Net debt reduced to approximately £14m at year-end, down from £39m at mid-year, aided by improved receivables.

Strategic outlook and guidance

• Modest organic revenue growth at constant currency expected for FY25, with volume growth offsetting price pressure.

• Foreign exchange anticipated to remain a headwind for reported revenue and adjusted PBT.

• Ongoing investments in growth initiatives and efficiency actions have supported resilience amid challenging market conditions.

• AI-centred solutions, including TrainAI and Language Weaver, are gaining traction and contributing to growth.

• Continued focus on sales effectiveness and efficiency, leveraging the LXD platform, positions the group for future strength.

Company profile and market position

• RWS is a global leader in technology-enabled language, content, and intellectual property services.

• The company serves over 80% of the world's top 100 brands and nearly all top pharmaceutical companies, investment banks, law firms, and patent filers.

• RWS has developed 40+ AI-related patents and published over 100 peer-reviewed papers, demonstrating deep expertise in AI solutions.

• The client base spans multiple sectors and continents, with 65+ global locations.

• Founded in 1958 and headquartered in the UK, RWS is listed on AIM, London Stock Exchange.