REG-RELX PLC AGM Trading Update - April 2024

RelxAnnouncement

25/04/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240425:nBw3f52J5a&default-theme=true


AGM Trading Update - April 2024

 

News release

25 April 2024

AGM TRADING UPDATE

RELX, the global provider of information-based analytics and decision tools,
has issued the following update on trading ahead of the Annual General
Meeting, reaffirming the outlook for the full year.
 Highlights                                                                      
 
                                                                               
 
                                                                               
 *RELX has started the year well across all four business areas. The improving   
 long-term growth trajectory continues to be driven by the ongoing shift in      
 business mix towards higher growth analytics and decision tools that deliver    
 enhanced value to our customers across market segments.                         
 
                                                                               
 Full year outlook                                                               
 
                                                                               
 
                                                                               
 *The full year outlook is unchanged: We continue to see positive momentum       
 across the group, and we expect another year of strong underlying growth in     
 revenue and adjusted operating profit, as well as strong growth in adjusted     
 earnings per share on a constant currency basis.                                


Risk (34% of 2023 revenue)


 * Strong underlying revenue growth continues to be driven by our deeply embedded
analytics and decision tools across segments. Business Services growth
continues to be driven by Financial Crime & Compliance and digital Fraud
& Identity solutions, and Insurance continues to be driven by the further
development and extension of solution sets across insurance markets.

 * Full year outlook: We expect continued strong underlying revenue growth with
underlying adjusted operating profit growth slightly exceeding underlying
revenue growth.

Scientific, Technical & Medical (33% of 2023 revenue)


 * Good underlying revenue growth continues to be driven by the evolution of the
business mix towards higher growth segments. Databases, Tools & Electronic
Reference growth continues to be driven by higher value-add analytics and
decision tools, and Primary Research Academic & Government continues to be
driven by volume growth.

 * Full year outlook: We expect continued good underlying revenue growth with
underlying adjusted operating profit growth slightly exceeding underlying
revenue growth.

Legal (20% of 2023 revenue)


 * Strong underlying revenue growth continues to be driven by a shift in business
mix towards higher growth integrated legal analytics. The roll-out of
Lexis+AI, our new platform leveraging value-enhancing generative AI
functionality, continues to go well. Renewals and new sales remain strong.

 * Full year outlook: We expect continued strong underlying revenue growth with
underlying adjusted operating profit growth exceeding underlying revenue
growth.

Exhibitions (12% of 2023 revenue)


 * Strong underlying revenue growth continues to be driven by increased
face-to-face activity across geographies, supported by increased usage of a
growing range of value-enhancing digital tools.

 * Full year outlook: We expect strong underlying revenue growth with a further
improvement in adjusted operating margin.

Underlying growth rates are calculated at constant currencies, excluding the
results of acquisitions until twelve months after purchase, and excluding the
results of disposals and assets held for sale. Underlying revenue growth rates
also exclude exhibition cycling, and timing effects. Some figures and
sub-totals add up to slightly different amounts than the totals due to
rounding.

-ENDS-
 ENQUIRIES:  Colin Tennant (Investors)  Paul Abrahams (Media)  
 
           
                          
                      
 
           
+44 (0)20 7166 5751       
+44 (0)20 7166 5724   
                                        
                      
                                        
                      


DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS

This announcement contains forward‐looking statements within the meaning of
Section 27A of the US Securities Act of 1933, as amended, and Section 21E of
the US Securities Exchange Act of 1934, as amended. These statements are
subject to risks and uncertainties that could cause actual results or outcomes
of RELX PLC (together with its subsidiaries, “RELX”, “we” or
“our”) to differ materially from those expressed in any forward‐looking
statement. We consider any statements that are not historical facts to be
“forward‐looking statements”. The terms “outlook”, “estimate”,
“forecast”, “project”, “plan”, “intend”, “expect”,
“should”, “could”, “will”, “believe”, “trends” and similar
expressions may indicate a forward‐looking statement. Important factors that
could cause actual results or outcomes to differ materially from estimates or
forecasts contained in the forward‐looking statements include, among others:
regulatory and other changes regarding the collection or use of personal data;
changes in law and legal interpretations affecting RELX intellectual property
rights and internet communications; current and future geopolitical, economic
and market conditions; changes in the payment model for RELX scientific,
technical and medical research products; competitive factors in the industries
in which RELX operates and demand for RELX products and services; inability to
realise the future anticipated benefits of acquisitions; comprises of RELX
cyber security systems or other unauthorized access to our databases; changes
in economic cycles, communicable disease epidemics or pandemics, severe
weather events, natural disasters and terrorism; failure of third parties to
whom RELX has outsourced business activities; significant failure or
interruption of RELX systems; inability to retain high-quality employees and
management; changes in tax laws and uncertainty in their application; exchange
rate fluctuations; adverse markets conditions or downgrades to the credit
ratings of our debt; changes in the market values of defined benefit pension
scheme assets and in the market related assumptions used to value scheme
liabilities; breaches of generally accepted ethical business standards or
applicable laws; and other risks referenced from time to time in the filings
of RELX PLC with the US Securities and Exchange Commission. You should not
place undue reliance on these forward‐looking statements, which speak only
as of the date of this announcement. Except as may be required by law, we
undertake no obligation to publicly update or release any revisions to these
forward‐looking statements to reflect events or circumstances after the date
of this announcement or to reflect the occurrence of unanticipated events.

Notes for Editors

About RELX

RELX is a global provider of information-based analytics and decision tools
for professional and business customers. RELX serves customers in more than
180 countries and has offices in about 40 countries. It employs more than
36,000 people over 40% of whom are in North America. The shares of RELX PLC,
the parent company, are traded on the London, Amsterdam and New York stock
exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New
York: RELX. The market capitalisation is approximately £62bn/€72bn/$77bn.



View source version on businesswire.com:
https://www.businesswire.com/news/home/20240424048944/en/
(https://www.businesswire.com/news/home/20240424048944/en/)

RELX PLC


Copyright Business Wire 2024