July 28, 2014 5:25 AM ET

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Company Overview of Reed Elsevier Group Plc

Company Overview

Reed Elsevier Group Plc provides information solutions for professional customers in North America, Europe, and internationally. The company’s Scientific, Technical & Medical segment provides scientific, technical, and medical information to scientists, academic institutions, research leaders and administrators, medical researchers, doctors, nurses, allied health professionals, and students, as well as hospitals, research institutions, health insurers, governments, research-intensive corporations, and managed healthcare organizations. Its Risk Solutions & Business Information segment offers solutions that assist customers in evaluating, predicting, and managing risk and enhancing operational...

1-3 Strand

London,  WC2N 5JR

United Kingdom

28,000 Employees

Phone:

44 20 7166 5500

Fax:

44 20 7166 5799

Key Executives for Reed Elsevier Group Plc

Chief Executive Officer
Age: 50
Chief Financial Officer
Age: 49
Chief Executive Officer of Elsevier Science & Technology Division and Member of Executive Council
Age: 54
Member of Executive Council
Member of Executive Council
Age: 56
Compensation as of Fiscal Year 2014.

Reed Elsevier Group Plc Key Developments

Nick Luff to Join the Boards of Reed Elsevier Plc, Reed Elsevier Group plc and Reed Elsevier NV

Reed Elsevier announced that it has appointed Nick Luff as chief financial officer of the company. Luff will take over in 2014 from Duncan Palmer, who announced his resignation in September 2013 and will leave the business when a hand-over has been completed. Also, Luff will be appointed to the boards of Reed Elsevier PLC, Reed Elsevier Group plc and Reed Elsevier N.V subject to the approval of shareholders. His effective date of appointment remains to be confirmed. Most recently, Luff was with Centrica plc, where he has been CFO since 2007. Prior to that, he was at P&O, as well as its affiliated companies, including P&O Princess Cruises and Royal P&O Nedlloyd where he worked for 15 years in a variety of senior finance roles, including CFO of the parent company for seven years.

Duncan Palmer Resigns as Chief Financial Officer of Reed Elsevier, Effective as of September 25, 2014

Reed Elsevier announced that due to family circumstances Duncan Palmer, Chief Financial Officer, has provided notice of his resignation from the boards of Reed Elsevier effective as of September 25, 2014, or such earlier date as Reed Elsevier may designate.

Reed Elsevier Group plc Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2013; Provides Earnings Guidance for the Year 2013

Reed Elsevier Group plc reported unaudited consolidated earnings results for the six months ended June 30, 2013. For the period, the company reported revenue of GBP 3,025 million against GBP 3,053 million for the same period in the last year. Operating profit before joint ventures was GBP 673 million against GBP 642 million for the same period in the last year. Operating profit was GBP 684 million against GBP 657 million for the same period in the last year. The increase principally reflects the improved trading performance. Profit before tax was GBP 626 million against GBP 647 million for the same period in the last year. Adjusted profit before tax was GBP 778 million against GBP 725 million for the same period in the last year. Adjusted net profit was GBP 592 million against GBP 552 million for the same period in the last year. Adjusted operating profit was GBP 870 million against GBP 832 million. Capital expenditure included within adjusted operating cash flow was GBP 152 million, including GBP 124 million in respect of capitalised development costs included within internally generated intangible assets, with capital expenditure for the year weighted to the second half against GBP 150 million for the same period in the last year. Free cash flow after interest and taxation was GBP 483 million before acquisition related spend and cash flows relating to prior year exceptional restructuring programmes against GBP 552 million for the same period in the last year. Net debt was GBP 3.3 billion as on June 30, 2013. Net profit attributable to parent companies’ shareholders was GBP 509 million against GBP 552 million for the same period in the last year. Net cash from operating activities was GBP 587 million against GBP 645 million for the same period in the last year. Purchases of property, plant and equipment was GBP 28 million compared to GBP 29 million a year ago. The outlook for the macro environment, and its impact on the company’s customer markets, remains mixed, and 2013 is a cycling out year for the company's exhibitions business. However, the operating momentum in the company’s business remains positive as the company enter the second half, and the company continue to expect full year 2013 to be another year of underlying revenue, profit, and earnings growth.

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