Wilmington PLC Annual Report

Chief Executive's Statement

In 2021, Wilmington completed its strategic review and we took the decisive steps to refocus the Group on the Governance, Risk and Compliance markets. We invested in our digital first activities. We restructured to operate as two divisions in one company, committing to investment in our operational growth levers of sales, marketing and product. We outlined the decisive steps needed to improve our technology capabilities to accelerate our shift to single technology platforms and tackled our legacy technology debt. We committed to maturing our measures assessing and improving customer satisfaction and employee engagement, designing and investing in a new people programme and committing to meaningful ESG commitments.

Last year’s results were our strongest to date with continuing revenues up by 9% and profits up 30%

Mark Milner
Chief Executive Officer
April 2024 Chief Executive's Statement

Operating divisions

We are operating as one business, with two divisions that each have a single technology platform, supporting multiple market-facing brands.

intelligence

Wilmington’s Intelligence division consists of businesses which provide musthave, authoritative risk and compliance data to a range of industries globally, including insurance, pensions, and healthcare. The information and data solutions provided by our brands in this division represent the gold standard in accuracy and timeliness, and this capability is enhanced by the expertise of our research analysts and industry practitioners, to ensure that we provide actionable insight to customers. Much of our data is developed by our own teams, and we own the associated intellectual property. Our Intelligence brands/businesses are: Axco, Pendragon and Compliance Week in Financial Services, Wilmington Healthcare/HSJ and APM in Healthcare and MiExact.

Revenue

£58.6m

(2022: 59.6m)

47%
of Group revenue
(2022: 49%)

Training & Education

This division provides compliance training and technical support for customers across a range of industries including financial services, accountancy, and healthcare. We offer a wide product range, including formal qualifications, continuing education, and mandatory training, through instructor-led and self-guided formats. Our excellence in this area is underpinned by worldclass and engaging course content, developed in house by our team of experienced subject matter experts, and enhanced by Wilmington’s strong digital subscription management and dynamic delivery platform. Our Training & Education brands/businesses are: ICA and CLTi in Global, Mercia and Bond Solon in UK & Ireland and FRA in North America. Please see the Divisional Review for further details.

Revenue

£64.9m

(2022: £61.4m)

53%
of Group revenue
(2022: 51%)

intelligence

Wilmington’s Intelligence division consists of businesses which provide musthave, authoritative risk and compliance data to a range of industries globally, including insurance, pensions, and healthcare. The information and data solutions provided by our brands in this division represent the gold standard in accuracy and timeliness, and this capability is enhanced by the expertise of our research analysts and industry practitioners, to ensure that we provide actionable insight to customers. Much of our data is developed by our own teams, and we own the associated intellectual property. Our Intelligence brands/businesses are: Axco, Pendragon and Compliance Week in Financial Services, Wilmington Healthcare/HSJ and APM in Healthcare and MiExact.

Revenue

£58.6m

(2022: 59.6m)

47%
of Group revenue
(2022: 49%)

Training & Education

This division provides compliance training and technical support for customers across a range of industries including financial services, accountancy, and healthcare. We offer a wide product range, including formal qualifications, continuing education, and mandatory training, through instructor-led and self-guided formats. Our excellence in this area is underpinned by worldclass and engaging course content, developed in house by our team of experienced subject matter experts, and enhanced by Wilmington’s strong digital subscription management and dynamic delivery platform. Our Training & Education brands/businesses are: ICA and CLTi in Global, Mercia and Bond Solon in UK & Ireland and FRA in North America. Please see the Divisional Review for further details.