Full Year 2024 RWS Holdings PLC Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: James Bayliss - Joh. Berenberg, Gossler & Co. KG - Analyst : Hi, both. James Bayliss from Berenberg here. Two questions, if I may. Just thinking about gross margin: obviously, really nice to see it coming up this year, how do we think about that going forward in terms of the longer-term profile for the group, when we consider everything from client focus on pricing, improving volumes, the mix shift within the portfolio, and obviously all the investment you've been putting into the product set and efficiencies in the group? And then the second question is obviously we had the disposal of PatBase in the year. How does that instruct our thinking around any future portfolio rationalization? Is the message very much build through M&A and organic initiatives? Or could there be other areas of the portfolio where there's a bit of truing up to be done?

Question: James Bayliss - Joh. Berenberg, Gossler & Co. KG - Analyst : Thanks. Unidentified Participant Hi, it's [David Braxton] from Deutsche Numis. Can I ask two questions please, as well? The first one on customer delivery and then, the second one on the medium-term targets back from the CMD. In terms of customer delivery, it's clearly exceptional -- with no significant losses over the last few years and the progress in the MPS. Can you just touch on how conservative an effort that's been from the center; any particular initiatives that have driven that; and how you we think we should view that going forward? Perhaps, you're being too nice there to customers. And then the second question, just in terms of the medium-term targets: obviously, the cycle and FXs have got in the way of the delivery of the growth ambition there in the margins, can you just reiterate or give an update as to what you think this business should be capable of doing over the medium term? And I think it was market growth of 6% and 200 basis points to 300 basis points margin improvement.