Economic activity contracted sharply during the first half of the year as a consequence of lockdown measures and heightened risk aversion. Head of Commercial Communications & Corporate Affairs. ICD-REFINITIV Islamic Finance Development Report 2020: PROGRESSING THROUGH ADVERSITY. Feb. 8, 2022, 06:30 AM TORONTO, Feb. 8, 2022 /PRNewswire/ -- Thomson Reuters (TSX/NYSE: TRI) today reported results for the fourth quarter and full year ended December 31, 2021: Strong revenue. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. The company's products enable its customers to remain productive while they work remotely because they can access most Thomson Reuters products and services through the Internet. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. The company said the long-term incentive plan grant awarded to CEO Chris O'Shea in 2020 was not "meaningfully reduced to reflect the depressed share price during Europe's initial response to the Covid-19 pandemic". Thomson Reuters | May 13, 2020. 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. En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. German import prices fell at an annual rate of 7% in April and the ECB's financial stability report warned about a "disorderly" hit to house prices from higher mortgage rates. 86% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our. This news release includes certain non-IFRS financial measures, such as adjusted EBITDA and the related margin (other than at the customer segment level), net debt to adjusted EBITDA leverage ratio, free cash flow, adjusted EPS, selected measures excluding the impact of foreign currency, and changes in revenues computed on an organic basis. Exclusive news, data and analytics for financial market professionals, Reporting by Hani Kollathodi, Anchal Rana in Bengaluru; Editing by Anil D'Silva, OPEC+ begins meetings that may agree further output cuts, US oil rig count falls by most since September 2021, Baker Hughes says, Venezuela's oil exports drop as heavy crude processing sags, stocks drain, Sweden orders Uniper to fire up mothballed plant, OPEC+ discussing deepening oil production cuts, sources say, Renault customers to lodge criminal complaint in France over faulty engines, American Airlines aviators reject merger with world's largest pilots' union, US Treasury official meets with China's new ambassador in Washington, Walmart reiterates goal of doubling international gross merchandise in five years. 8.5 MB. Adjusted EBITDAincreased 7% to $105 million. Save time with tax planning, preparation, and compliance. One-month Treasury bill yields have returned close to normal levels, with two-year Treasury yields slipping back below 4.4%. Automate sales and use tax, GST, and VAT compliance. Thomson Reuters Files 2020 Annual Report . Organic revenues increased 1%, driven by 4% growth in recurring revenues, which comprised 80% of total revenues. 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. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Adjusted EBITDA decreased 21% to $61 million. The annual report was filed with the Canadian securities regulatory agencies and is available at sedar.com. "Big 3" revenues up 4%; organic revenues up 5%, Adjusted EBITDA up 33%; adjusted EBITDA margin of 32.5%, Acceleratingto 3.0: Two Powerful Levers to Drive Both Growth & Efficiencies, Content Provider to Content-Driven Technology Company, Organic revenue growth of 5% - 6% in 2023, Adjusted EBITDA margin of 38% - 40% in 2023, Free cash flow of $1.8 billion - $2.0 billion in 2023, Investment of $500 million - $600 million (2021 & 2022). Many of these risks, uncertainties and assumptions are beyond the company's control and the effects of them can be difficult to predict. Excluding this timing benefit, organic revenues were up 5%. Consolidate multiple country-specific spreadsheets into a single, customizable solution and improve tax filing and return accuracy. Senior Director, Corporate Affairs When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Thomson Reuters Reports Fourth-Quarter and Full-Year 2021 Results Annual report and annual meetings | CWBank Group 09 Dec 2020. China's official manufacturing purchasing managers' index unexpectedly fell to 48.8 from 49.2 in April, staying below the 50-point mark that separates expansion from contraction and below a forecast of 49.4. Tap into a team of experts who create and maintain timely, reliable, and accurate resources so you can jumpstart your work. The annual report contains audited financial statements, management's discussion and analysis (MD&A) and other disclosures. ICD Annual Report 2022 - Reinvigorating the private sector to shape a better future. (1) For comparative purposes, 2019 segment results have been adjusted to reflect the current period presentation. Sale of Refinitiv to London Stock Exchange Group (LSEG). In particular, the full extent of the impact of the COVID-19 pandemic on the company's business, operations and financial results will depend on numerous evolving factors that it may not be able to accurately predict. Not only do the survey results provide in-depth industry insights, they were . Software that keeps supply chain data in one central location. Issue no.7. Revenuesincreased 4% (3% organic) to $338 million. By signing up you agree to receive content from us. Conduct legal research efficiently and confidently using trusted content, proprietary editorial enhancements, and advanced technology. SEC Filing | Thomson Reuters The company adjusted its prior-period segment amounts to reflect the current presentation. (Reuters) - British asset manager Abrdn said on Thursday that it would vote against Centrica Plc's remuneration report at the British Gas owner's annual general meeting . 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%. Simplify project management, increase profits, and improve client satisfaction. 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. The annual report is now available in the " Investor Relations " section of tr.com. Our worldwide network of journalists and specialist editors keep customers up to speed on global developments, with a particular focus on legal, regulatory and tax changes. For more information on Thomson Reuters, visit tr.comand for the latest world news, reuters.com. Material risks related to the company's free cash flow outlook are the same as the risks above related to the revenue and adjusted EBITDA margin outlook; a weaker macroeconomic environment could negatively impact working capital performance, including the ability of our customers to pay us; capital expenditures may be higher than currently expected; and the timing and amount of tax payments to governments may differ from the company's expectations. Software that keeps supply chain data in one central location. For more information on Thomson Reuters, visit tr.comand for the latest world news, reuters.com. Thomson Reuters and Blackstone's consortiumsubsequentlyagreed to sell Refinitiv to LSEGinAugust2019. 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. Thomson Reuters Reminds Non-Canadian Taxable - Bloomberg.com Search volumes of data with intuitive navigation and simple filtering parameters. See here for a complete list of exchanges and delays. Earnings or losses for interim periods under IFRS reflect income taxes based on the estimated effective tax rates of each of the jurisdictions in which Thomson Reuters operates. 1 Thomson Reuters Peer Monitor data are based on reported results from 162 U.S.-based law firms, including 45 Am Law 100 firms, 56 Am Law Second 100 Firms, and 61 additional Midsize firms. Tap into a team of experts who create and maintain timely, reliable, and accurate resources so you can jumpstart your work. On January 29, 2021, Thomson Reutersand private equity funds affiliated with Blackstoneclosed the sale of Refinitiv toLSEGin an all-share transaction. Material assumptions related to the company's 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;andthe company will improve customer retention through commercial simplification efforts and customer service improvements. Cash flow from operations increased primarily because the prior-year period included significantly higher costs and investments to reposition the company following the separation from Refinitiv and higher tax payments. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 7 Mar 2016. 2021 Annual Report 2.6 MB. The company said the long-term incentive plan grant awarded to CEO Chris O'Shea in 2020 was not "meaningfully reduced to reflect the depressed share price during Europe's initial response to the Covid-19 pandemic". The margin increased to 31.1% from 30.0%, primarily due to higher revenues. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. From time to time, the company also issues debt securities under a prospectus. Despite challenges from the ongoing COVID-19 pandemic, our2020 performance reaffirmed the resilience of our markets and businesses and enabled us tomeet or exceed each of the financial guidance metrics we provided throughout the year. Twitter: @reutersMikeD, Biden signs debt limit bill, avoiding U.S. default, Analysis: Risk of US downgrade still on the cards despite debt deal, US employers boost hiring in May, but labor market losing steam, UBS CEO warns of painful jobs decisions after Credit Suisse takeover, UK's Sunak wants to cut taxes by up to 2% before election, the Telegraph reports, Now let's make it a treble, Guardiola urges Manchester City players, Neuville leads in Sardinia after Ogier crashes out, Mercedes drivers blame qualifying contact on miscommunication. Publications | ICD A powerful tax and accounting research tool. This is an organic growth program, and our experienced team has begun to execute with urgency and rigor. A look at the day ahead in U.S. and global markets from Mike Dolan. Copies may also be requested by writing to . Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 2023 Cost of Compliance. This year's edition presents legal leadership with a unique opportunity. Cision Distribution 888-776-0942 Thomson Reuters does not currently intend to repurchase additional shares in 2021. U.S. stock futures were marginally in the red ahead of the open. Revenue growth was negatively impacted by the loss of revenues from the Aumentum government business, which was sold in November 2019. Adjusted EBITDAincreased 14% to $245 million. En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. 3 Id.at 7. Revenues increased 1%, as growth in recurring revenues more than offset a decline in Global Print revenues and a negative impact from foreign currency that reduced revenues by $44 million (approximately 1%). Before Currency & Excluding Businesses Disposed, Before Currency & Excluding BusinessesDisposed, Debt at December 31, 2020 and December 31, 2019. With the House of Representatives now likely to vote on a bill to lift debt ceiling as soon as Wednesday, it appears that drama is subsiding at last. Thomson Reutersnow indirectly ownsapproximately 82.5 million LSEG shares,which havea market value of approximately $11.2billionbased on LSEG's closing share price onFebruary22, 2021. The following reconciliations of IFRS measures to non-IFRS measures are based on Refinitiv's definition of non-GAAP measures, which is not the same as the definitions used by Thomson Reuters. Provides a full line of federal, state, and local programs. The annual report was also filed with the U.S. Securities and Exchange Commission on Form 40-F and is available atwww.sec.gov. Automate workpaper preparation and eliminate data entry. Our Standards: The Thomson Reuters Trust Principles. Online Annual Report 2014. Thomson Reuters prepares its financial statements in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB). 2005 Annual Information Form 276. . Additionally, this measure is used by Thomson Reuters and investors to assess a company's ability to incur and service debt. These and other non-IFRS financial measures are defined andreconciled to the most directly comparable IFRS measures in the tables appended to this news release. Foreign currency had no impact on revenue growth in the quarter. An archive of the webcast will be available following the presentation. 2023, Nasdaq, Inc. All Rights Reserved. Save time with tax planning, preparation, and compliance. Adjusted EBITDA margin is adjusted EBITDA expressed as a percentage of revenues. Abrdn to vote against Centrica's remuneration report In 2020, cash flow benefited from savings related to the company's COVID-19-related cost mitigation efforts and lower income tax payments. Thomson Reuters Reports Fourth-Quarter and Full-Year 2020 Results 753.5 KB. Additionally, the company cannot reasonably predict the occurrence or amount of other operating gains and losses, that generally arise from business transactions that the company does not currently anticipate. The company's "Big 3" segments (Legal Professionals, Corporates and Tax & Accounting Professionals), which collectively comprised 79% of total revenues, reported organic revenue growth of 5%. Zambia's Finance Minister Situmbeko Musokotwane attends the Annual Meetings of the International Monetary Fund and World Bank in Washington, U.S., October 15, 2022. Copies may also be requested by writing to Thomson Reuters Investor Relations, 3 Times Square, New York, NY, 10036, United States. The Big 3 total revenue growth and organic revenue growth in the first quarter is forecast to range between 4% and 5%. Automate workpaper preparation and eliminate data entry. Thomson Reuters Files 2020 Annual Report TORONTO, March 10, 2021 - Thomson Reuters (TSX / NYSE: TRI) today filed its annual report for the year ended December 31, 2020. UBS CEO warns of painful jobs decisions after Credit Suisse takeover The Tax & Accounting Professionals segment is the company's most seasonal business with approximately 60% of full-year revenues typically generated in the first and fourth quarters. Soccer PSG keeper Rico remains in intensive care after - reuters.com The annual report contains audited financial statements, managements discussion and analysis (MD&A) and other disclosures. The company also announced a new 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. Thomson Reuters defines adjusted EBITDA for its business segments as earnings or losses from continuing operations before tax expense or benefit, net interest expense, other finance costs or income, depreciation, amortization of software and other identifiable intangible assets, Thomson Reuters share of post-tax earnings or losses in equity method investments, other operating gains and losses, certain asset impairment charges, fair value adjustments and corporate related items. Annual Report 2014 in pdf format. Fintech, Regtech and the Role of Compliance Report 2021 - Thomson Reuters Thomson Reuters has not experienced any significant disruptions to its business and continues to be fully operational. The annual report is now available in the "Investor Relations" section ofwww.tr.com. Identify patterns of potentially fraudulent behavior with actionable analytics and protect resources and program integrity. The metric excludes the distortive impacts of acquisitions and dispositions from not owning the business in both comparable periods. The Cost of Compliance report was also affected. Mr. Hasker added, "This morning, we also announced a two-year Change Program that will transition Thomson Reuters from a holding company to an operating company and from a content provider to a content-driven technology company. For purposes of calculating the leverage ratio, net debt is divided by adjusted EBITDA for the previous twelve-month period ending with the current fiscal quarter. The annual report contains . Receive Email . An improvement in Global Print's 2021 performance is expected, with revenues forecast to decline between 4%-7%. 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. Highlights by Customer Segment Year Ended December 31, Thomson Reuters Change Program and Outlook. Sharplegal | Thomson Reuters * U.S. April JOLTS job openings data; May MNI Chicago purchasing managers survey, Dallas Fed May service sector survey. Investor Tools . The report findings seek to help firms with planning and resourcing, while allowing them to benchmark their own approach. 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. Annual reports | Neste 4 Id.at 9. http://www.prnewswire.com/news-releases/thomson-reuters-files-2020-annual-report-301245042.html, Do Not Sell My Personal Information (CA Residents Only). 6.8 MB. , . Its annual general meeting is scheduled for June 13. 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. The annual report was filed with the Canadian securities regulatory agencies and is available atwww.sedar.com. Automate sales and use tax, GST, and VAT compliance. Our worldwide network of journalists and specialist editors keep customers up to speed on global developments, with a particular focus on legal, regulatory and tax changes. The annual report was filed with the Canadian securities regulatory agencies and is available atwww.sedar.com. Thomson Reuters (TSX/NYSE: TRI) is the worlds leading provider of news and information-based tools to professionals. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Annual report 2015. Revenuesof $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 segment's US Federal Government software. 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.". For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com. . Simplify project management, increase profits, and improve client satisfaction. Net debt is total indebtedness (excluding the associated unamortized transaction costs and premiums or discounts) plus the currency related fair value of associated hedging instruments, and lease liabilities less cash and cash equivalents. As permitted undera transactionagreement,Thomson Reutersplans to sell approximately $1 billion of its LSEG sharesto generate approximately$750 millionof total net proceeds, but the companydoes not plan to sell any LSEG shares prior to LSEG's announcement of its full-year 2020 results on March 5, 2021. See the section below entitled "Non-IFRS Financial Measures" for more information. 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), Loss (earnings) from discontinued operations, net of tax, 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), Reconciliation of Changes in Revenues to Changes in Revenues on a Constant Currency (4) and Organic Basis (6). Reuters Events is assessing if and when in-person conferences can resume in 2021. NATO Official Calls for Transparency Over Nuclear Weapons We began 2020 with optimism and momentum as our sales, revenue growth and profitability were accelerating. ThomsonReutersnon-IFRSmeasures,including adjusted earnings, exclude its shareofpost-taxresultsin Refinitiv and other equity method investments. Some of theforward-looking financial measures in the outlook above are provided on a non-IFRS basis. In the first quarter of 2020, the company reassessed its methodology for allocating costs to its business segments and adjusted its allocations in connection with the completion of the repositioning of its businesses in 2019 after the separation of Refinitiv. Golden You can . Adjustment to reflect income taxes based on estimated full-year effective tax rate. Transactions revenues declined 6% organically. For 11 years our Thomson Reuters Regulatory Intelligence Cost of Compliance Report has given an unparalleled insight into the challenges facing risk and compliance officers in financial services firms around the world. Hard copies of the 2020 annual report may be obtained, free of charge, by contacting Thomson Reuters Investor Relations at[emailprotected]. The fifth Thomson Reuters Regulatory Intelligence report on Fintech, Regtech and the Role of Compliance in 2021 is now ready for download. These symbols will be available throughout the site during your session. (1) In addition to results reported in accordance with International Financial Reporting Standards (IFRS),the company uses certain non-IFRS financial measures as supplemental indicators of its operatingperformance and financial position. Thomson Reuters Reports Fourth-Quarter and Full-Year 2020 Results The annual report contains audited financial statements, management's discussion and analysis (MD&A) and other disclosures.
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