RWS AR 23 Final Single pages - Flipbook - Page 55
INVESTMENT IN R&D
ACQUISITIONS AND DIVESTMENTS
Technological advancements have been identi昀椀ed
as a primary risk in the Group’s risk management
programme. RWS scans for and reviews innovations
in technology that can improve e昀케ciencies while
reducing energy consumption. As virtual workplaces
become more common and its clients span across
the globe, important consideration is given to new,
innovative ways to deliver products and services as
e昀케ciently as possible. RWS is committed to investing in
growth areas, technology products and infrastructure
with a view to accelerate organic growth.
In FY23 RWS acquired Propylon Holdings Limited
(Propylon), a leading legal and regulatory content
management solution provider, for €30.1 million on
a cash-and-debt free basis with additional deferred
payments of €6.45 million due on each of the 昀椀rst and
secondary anniversary of completion. The acquisition
was funded from existing cash resources of RWS and
bank facilities.
Throughout FY23, RWS has been investing in a
technology transformation programme which will
reduce the carbon emissions generated from its
business operations. Investing in this technology
transformation is a key component of the RWS strategy
for becoming carbon net zero.
OPERATIONS
RWS has noted a signi昀椀cant increase in the number of
clients requesting robust climate-change management
from their suppliers. To ensure RWS meets or exceeds
these expectations, it complies with all relevant
climate-change regulations and actively improves
its climate change management wherever possible.
RWS holds itself to high accountability standards.
As a result in FY22 RWS improved the accuracy of
its footprint by improving data collection and GHG
emissions to include both operations and supply chain,
and committed to setting carbon reduction targets
which are aligned with the SBTi. The new targets were
submitted to the SBTi in December for validation
and will be published once validated. The accuracy
of emissions measurement was further improved in
FY23. To encourage transparency, the RWS climate
change management strategy is publicly reported on
several platforms, including Annual Reports, TCFD, and
CDP disclosures.
Propylon’s Component Content Management System
allows users to author, edit, and 昀椀nalise content in a
user-friendly way. It also provides software to a range
of standards bodies and global regulated professional
services organisations, helping them solve the content
challenges with drafting, amending, publishing and
updating legislation, regulation and guidance.
Including Propylon’s CCMS and software within the RWS
portfolio compliments and further strengthens the RWS
business o昀昀erings, helping its clients reach further around
the globe.
ACCESS TO CAPITAL
Many of the measures detailed throughout this section
contribute to ensuring RWS has access to capital.
Strengthening its climate-change management strategy
through commitments to carbon net zero, transparent
engagement with its value chain, and investments in
technological advancements can generate additional
revenue from drawing in new clients with similar values.
The initiatives themselves may have several bene昀椀ts,
e.g. improving the accuracy of its data collection and
carbon footprinting not only aids with our carbon net
zero journey, but also can lead to improved business
decisions to reduce costs on an ongoing basis, while also a
reduction in our systems and as such reducing run costs.
A long-term strategy to net zero also allows RWS to access
new sources of investment, while also more traditional
lenders are favouring businesses with a clear strategy.
A long-term strategy to net zero also allows RWS to access
new sources of investment, while also more traditional
lenders are favouring businesses with a clear strategy.
STRATEGIC REPORT
RWS Holdings plc — Annual Report 2023
55
