REG-RELX PLC TRADING UPDATE – October 2024

RelxAnnouncement

24/10/2024 07:00

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TRADING UPDATE – October 2024

 

7.00am BST

24 October 2024

TRADING UPDATE – October 2024

RELX, the global provider of information-based analytics and decision tools,
reports underlying revenue growth for the first nine months of 2024 and
reaffirms the outlook for the full year.
 Highlights                                                                      
 
                                                                               
 
*Underlying revenue growth year to date +7%                                    
 
                                                                               
 Full year outlook                                                               
 
                                                                               
 
*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 (35% of H1 2024 revenue)


 * Underlying revenue growth YTD +8%

 * Strong growth continues to be driven by our deeply embedded analytics and
decision tools across segments.

 * Business Services growth continued to be driven by Financial Crime Compliance
and digital Fraud & Identity solutions, with strong new sales. Insurance
growth was driven by the extension of solution sets across insurance markets,
continued positive market factors, and new sales. Specialised Industry Data
Services growth was led by Commodity Intelligence.

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

Scientific, Technical & Medical (32% of H1 2024 revenue)


 * Underlying revenue growth YTD +4%

 * Good growth continues to be driven by the evolution of the business mix
towards higher growth segments.

 * Improved electronic revenue growth continued to be offset by print shrinking
at a faster pace. Databases, Tools & Electronic Reference growth continued
to be driven by higher value-add analytics and decision tools. Primary
Research continued to be driven by volume growth, with article submissions
growing very strongly across the portfolio, particularly in pay-to-publish.

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

Legal (20% of H1 2024 revenue)


 * Underlying revenue growth YTD +7%

 * Strong growth continues to be driven by the shift in business mix towards
higher growth, higher value analytics and tools.

 * Lexis+, our integrated platform with leading analytics leveraging extractive
AI, continued to perform well. The roll-out of Lexis+ AI, our new platform
leveraging generative AI, continued to make good progress in the US, and
recent launches in international markets have been positively received.
Renewals and new sales remain strong across all key segments.

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

Exhibitions (13% of H1 2024 revenue)


 * Underlying revenue growth YTD +13%

 * Strong growth reflects the improved growth profile of our event portfolio and
a favourable comparison with the early part of the prior year. We continue to
make good progress on value-enhancing digital initiatives, with increased
usage.

 * Full year outlook: We expect strong underlying revenue growth with an
improvement in adjusted operating margin over the prior full year.

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.

-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 interpretation affecting our intellectual property
rights and internet communications; current and future geopolitical, economic
and market conditions; changes in the payment model for our scientific,
technical and medical research products; competitive factors in the industries
in which we operate and demand for our products and services; our inability to
realise the future anticipated benefits of acquisitions; compromises of our
cybersecurity systems or other unauthorised 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 we have outsourced business activities; significant failure or
interruption of our systems; our inability to retain high-quality employees
and management; changes in tax laws and uncertainty in their application;
exchange rate fluctuations; adverse market 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 £69bn/€82bn/$89bn.



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