Slide 1: Thomson Reuters 2024 Second-Quarter Results
Thomson Reuters 2024 Second-Quarter Results August 1, 2024 Thomson e
Slide 2: Agenda
Agenda • Welcome / Introduction Gary Bisbee • Second-Quarter 2024 Highlights Steve Hasker TR Ventures • Financial Review Mike Eastwood Second-Quarter 2024 Results 2024 Full-Year Outlook Update • Q&A Thomson 2 Reuters WLL
Slide 3: Special Note
Special Note Special Note Regarding Forward-Looking Statements, Material Assumptions and Material Risks This presentation consists of these slides and the associated remarks and comments, which are related and intended to be presented and understood together. Certain statements in this presentation
Slide 4: Thomson Reuters Second-Quarter 2024 Highlights
Thomson Reuters Second-Quarter 2024 Highlights Steve Hasker President & CEO Thomson Reuters WLL
Slide 5: Second-Quarter 2024 Highlights
Second-Quarter 2024 Highlights 1. Good Q2 results met expectations • Q2 organic revenue growth of 6%, driven by 8% recurring revenue growth • “Big 3” (Legal, Corporates, and Tax & Accounting) organic revenue growth of 8% • Modest Q2 adjusted EBITDA margin upside vs. expectations; expect pace of inve
Slide 6: Second-Quarter 2024 Consolidated Results
Second-Quarter 2024 Consolidated Results IFRS Financial Measures ($ millions) 2024 2023 Change Revenues $1,740 $1,647 Up 6% Operating profit $415 $825 Down 50% Diluted earnings per share (EPS) $1.86 $1.90 Down 2% Cash flow from operations $705 $695 Up 2% Change at Constant Organic Non-IFRS Financial
Slide 7: Second-Quarter 2024 Revenue Growth by Segment
Second-Quarter 2024 Revenue Growth by Segment Reported revenues up 6% to $1.7 billion Organic revenues up 6% Organic recurring revenues up 8% Tax Corporates Reuters News Global Print Professionals Tax & Legal Corporates Accounting Reuters News Global Print Professionals Professionals $0.7B $0.4B $0.
Slide 8: Thomson Reuters Ventures
Thomson Reuters Ventures Thomson Reuters WLL
Slide 9: Thomson Reuters Ventures Overview
Thomson Reuters Ventures Overview TR Ventures invests in emerging enterprise technology companies aligned with Thomson Reuters strategic priorities, bringing important insight and relationships that accelerate our innovation Key Facts and Highlights What we Invest In End-Market / Geographic Focus: F
Slide 10: TR Ventures Brings "Signal" that Accelerates our Innovation
TR Ventures Brings “Signal” that Accelerates our Innovation • Track startup market and surface insights broadly across TR (what’s new, what’s getting funded, where is Market there unmet need, etc.) Insight • Work across TR functions to introduce new companies, discuss market trends and developments,
Slide 11: TR Ventures Portfolio Snapshot
TR Ventures Portfolio Snapshot Risk, Fraud & AI & Data Legal Tax & ÿ Technology Accounting Compliance Infrastructure, and Fintech News/Media ÿ ? 1 payall centML <>P PRIORI 9 Detected DE Materia 8G DATAGRAIL e Obird HE ERRCUL ESAI ÿ truewind PAYFLOW B ÿ S ar Thomson 11 Reuters WLL
Slide 12: Financial Review
Financial Review Second-Quarter 2024 Results Updated 2024 Outlook Mike Eastwood Chief Financial Officer Thomson Reuters WLL
Slide 13: Second-Quarter 2024 Legal, Corporates, Tax & Accounting Professionals Revenue
Second-Quarter 2024 Legal, Corporates, Tax & Accounting Professionals Revenue ($ millions) Second Quarter Six Months Constant Constant Revenues 2024 2023 Total Currency Organic 2024 2023 Total Currency Organic Legal Professionals 727 705 +3% +3% +7% 1,448 1,419 +2% +2% +7% Corporates 442 392 +13% +1
Slide 14: Second-Quarter 2024 Consolidated Revenues
Second-Quarter 2024 Consolidated Revenues ($ millions) Second Quarter Six Months Constant Constant Revenues 2024 2023 Total Currency Organic 2024 2023 Total Currency Organic Legal Professionals 727 705 +3% +3% +7% 1,448 1,419 +2% +2% +7% Corporates 442 392 +13% +13% +8% 949 827 +15% +15% +10% Tax &
Slide 15: Second-Quarter 2024 Consolidated Adjusted EBITDA
Second-Quarter 2024 Consolidated Adjusted EBITDA ($ millions) Second Quarter Six Months Constant Constant Adjusted EBITDA 2024 2023 Total Currency 2024 2023 Total Currency Legal Professionals 327 345 -5% -6% 669 663 +1% +1% Margin 45.0% 48.9% 46.2% 46.7% Corporates 163 163 - - 356 317 +12% +12% Marg
Slide 16: Adjusted Earnings Per Share (EPS)
Adjusted Earnings Per Share (EPS) ($ millions except per share amounts & share count) Second Quarter Six Months 2024 2023 % Change 2024 2023 % Change Adjusted EBITDA 646 662 -2% 1,452 1,339 +8% Depreciation & Amortization of Computer Software (183) (156) (364) (304) Add back: Acquired Software Amort
Slide 17: Consolidated Free Cash Flow
Consolidated Free Cash Flow ($ millions) Second Quarter Six Months 2024 2023 Change 2024 2023 Change Net Cash Provided by Operating Activities 705 695 10 1,137 962 175 Capital Expenditures (152) (127) (25) (297) (267) (30) Other Investing Activities 6 45 (39) 6 68 (62) Payments of Lease Principal (1
Slide 18: London Stock Exchange Group Monetization Success
London Stock Exchange Group Monetization Success Total Gross Proceeds ~ Initial Stake Value ~ ~ ~ $3B ~ Deal Announcement Date - Jan 30, 2018 (1) . 2 Thomson 18 ÿ (1) Date on which Thomson Reuters announced an agreement to sell a majority stake in its former Finance & Risk business to Blackstone
Slide 19: 2024 Outlook Update
2024 Outlook Update Thomson Reuters WLL
Slide 20: 2024 Updated Outlook
2024 Updated Outlook FY 2023 FY 2024 FY 2024 FY 2024 Total Thomson Reuters Outlook (3) Outlook (3) Outlook (3) Reported 2/8/24 5/2/24 8/1/24 Total Revenue Growth 3% ~ 6.5% 6.5% - 7.0% ~ 7.0% Organic Revenue Growth (1) 6% ~ 6% 6.0% - 6.5% ~ 6.5% Adjusted EBITDA Margin (1) 39.3% ~ 38% Unchanged Unchan
Slide 21: Q&A
Q&A 25% Thomson os -" Reuters