Wolters Kluwer's subscription and other non-cyclical revenues were 2,441 million euros in 2008, up 3% from 2007.
Here's an excerpt from the press release:
While market contractions were felt in all geographies, the company benefited from a resilient portfolio with a majority of revenue streams derived from subscription and other non-cyclical products, driven by legislative change, medical discoveries, and the increasing productivity needs of the professionals the company serves. Two thirds of revenues are subscription based with improving retention rates. The balance of the portfolio is comprised of transactional products including books, mortgage and corporate lending-based products, advertising and promotional services, and training. It is in these transactional areas that Wolters Kluwer experienced the pressure of the economic slow down.
