REG-RELX PLC AGM TRADING UPDATE - April 2023

RelxAnnouncement

20/04/2023 07:00

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AGM TRADING UPDATE - April 2023

 

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: Momentum remains strong across the group,   
 and we expect underlying growth rates in revenue and adjusted operating profit   
 to remain above historical trends, driving another year of strong growth in      
 adjusted earnings per share on a constant currency basis.                        
 
                                                                                
                                                                                  
 
                                                                                
 
                                                                                


Risk (34% of 2022 revenue)


 * Underlying revenue growth remains strong. Growth in Business Services
continues to be driven by Financial Crime & Compliance, digital fraud
prevention, and alternative credit. In Insurance, last year’s improving
momentum in business metrics has continued, and Specialised Industry Data
Services are growing strongly.

 * Full year outlook: We expect another year of 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 2022 revenue)


 * Underlying revenue growth continues to be driven by the evolution of the
business mix towards higher growth analytics and decision tools. Strong growth
has continued in Databases, Tools & Electronic Reference across research,
clinical, and commercial markets. Growth in Primary Research is being driven
by continued growth in the number of articles submitted and published.

 * 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 2022 revenue)


 * Improving underlying revenue growth continues to be driven by a shift in
business mix towards higher growth integrated legal analytics, with increasing
adoption and usage across law firm and corporate legal markets. Renewals and
new sales continue to show positive momentum.

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

Exhibitions (11% of 2022 revenue)


 * Strong revenue growth continues to be driven by a significant increase in
face-to-face activity as exhibition venues have now reopened in all
geographies.

 * 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, with margins expected to be close to pre-pandemic levels.

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:
compromises of RELX cyber security systems or other unauthorised access to our
databases; regulatory and other changes regarding the collection, transfer or
use of third‐party content and 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 economic cycles, communicable disease epidemics or
pandemics, severe weather events, natural disasters and terrorism; changes in
tax laws and uncertainty in their application; changes in the payment model
for RELX products; competitive factors in the industries in which RELX
operates and demand for RELX products and services; failure of third parties
to whom RELX has outsourced business activities; breaches of generally
accepted ethical business standards or applicable laws; significant failure or
interruption of RELX systems; inability to realise the future anticipated
benefits of acquisitions; inability to retain high-quality employees and
management; 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
35,000 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 £50bn/€57bn/$62bn.



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