REG-RELX PLC 3rd Quarter Results

RelxAnnouncement

20/10/2022 07:00

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3rd Quarter Results

 

7.00am BST

20 October 2022

TRADING UPDATE – October 2022

RELX, the global provider of information-based analytics and decision tools,
reports underlying revenue growth for the first nine months of 2022 and
updates the full year outlook.
 Highlights                                                                      
 
                                                                               
 
*Underlying revenue growth year to date +9%                                    
 
                                                                               
 Full year outlook                                                               
 
                                                                               
 
*As we enter the final quarter, momentum remains strong across the group, and  
 we continue to expect full year underlying growth rates in revenue and          
 adjusted operating profit, as well as constant currency growth in adjusted      
 earnings per share, to remain above historical trends.                          


Risk (35% of H1 2022 revenue)


 * Underlying revenue growth YTD +7%

 * Business Services growth has remained strong, and the Insurance growth
run-rate has improved since the half year. Specialised Industry Data Services
has continued to deliver strong growth.

 * Full year outlook: We expect strong underlying revenue growth, in line with
historical trends, with underlying adjusted operating profit growth broadly
matching underlying revenue growth.

Scientific, Technical & Medical (34% of H1 2022 revenue)


 * Underlying revenue growth YTD +4%

 * Primary Research has continued to grow well, with the number of articles
submitted and published remaining ahead of last year’s elevated levels.
Databases & Tools and Electronic Reference has continued to grow strongly.

 * Full year outlook: We expect underlying revenue growth to remain above
historical trends, with underlying adjusted operating profit growth slightly
exceeding underlying revenue growth.

Legal (21% of H1 2022 revenue)


 * Underlying revenue growth YTD +5%

 * Further improvement in underlying revenue growth continues to be driven by
legal analytics. Renewals remain strong and new sales continue to show
positive momentum.

 * Full year outlook: We expect underlying revenue growth to remain well above
historical trends, with underlying adjusted operating profit growth continuing
to exceed underlying revenue growth.

Exhibitions (10% of H1 2022 revenue)


 * Underlying revenue growth YTD +85%

 * Revenue growth has been driven by a significant increase in face-to-face
activity across most geographies, with digital tools supporting our physical
events.

 * Full year outlook: We expect a year of strong underlying revenue growth. The
operating result will continue to benefit from the structurally lower cost
base.

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:
the impact of the Covid-19 pandemic as well as other pandemics or epidemics;
current and future economic, political and market forces; changes in law and
legal interpretations affecting RELX intellectual property rights and internet
communications; regulatory and other changes regarding the collection,
transfer or use of third‐party content and data; changes in the payment
model for RELX products; demand for RELX products and services; competitive
factors in the industries in which RELX operates; inability to realise the
future anticipated benefits of acquisitions; significant failure or
interruption of RELX systems; exhibitors’ and attendees’ ability and
desire to attend face‐to‐face events and availability of event venues;
changes in economic cycles, severe weather events, natural disasters and
terrorism; compromises of RELX cyber security systems or other unauthorised
access to our databases; failure of third parties to whom RELX has outsourced
business activities; inability to retain high-quality employees and
management; legislative, fiscal, tax and regulatory developments; exchange
rate fluctuations; 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. The Group serves customers in more
than 180 countries and has offices in about 40 countries. It employs more than
33,000 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 £43bn/€49bn/$48bn.



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