AGM Trading Update - April 2024
25 Abril 2024 - 1:00AM
Business Wire
Regulatory News:
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-
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.
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