Slide 1: Interim results 2022
Interim results 2022 Erik Engstrom, CEO, and Nick Luff, CFO 28 July 2022 1 DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS This presentation 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 Exchan
Slide 2: RELX 2022 progress
Erik Engstrom, CEO 3 3 RELX 2022 progress • Strong financial results • Further operational and strategic progress 4 4
Slide 3: H1 2022 financial highlights; Revenue and adjusted operating profit
H1 2022 financial highlights • Revenue growth* +13% • Adjusted operating profit growth* +16% • Adjusted EPS growth* +14% • Interim dividend growth (in sterling) +10% * Change at constant currencies 5 5 Revenue and adjusted operating profit Revenue H1 2022: £3,969m Adjusted operating profit H1 2022:
Slide 4: Risk; Scientific, Technical & Medical
Risk Underlying growth Revenue • Strong fundamentals driving underlying revenue growth, following particularly strong prior year first half +9% +10% +7% • Business Services strong growth driven by demand for fraud prevention analytics and decision tools; digital identity solutions performing very st
Slide 5: Legal; Exhibitions
Legal Underlying growth Revenue • Further improvement in underlying revenue growth driven by legal analytics • Continued enhancement of functionality of integrated research and leading analytics +3% +3% +4% • Lexis+ performing well; strong uptake across segments FY 2021 H1 2021 H1 2022 • Renewal rat
Slide 6: RELX strategic direction
RELX strategic direction Strategy • Develop increasingly sophisticated information-based analytics and decision tools that deliver enhanced value to professional and business customers across market segments • Primary focus on organic growth, supported by targeted acquisitions Growth objectives Risk
Slide 7: H1 2022 financial highlights
Nick Luff, CFO 13 13 H1 2022 financial highlights Income statement highlights • Revenue growth* +13% • Adjusted operating profit growth* +16% • Adjusted operating profit margin 31.2% • Adjusted EPS growth* +14% Cash flow and balance sheet highlights • Adjusted cash flow conversion 103% • Net debt /
Slide 8: Revenue; Adjusted operating profit
Revenue change at 2021 2022 constant change 6 months to 30 June £m £m change currencies underlying Risk 1,228 1,387 +13% +7% +7% Scientific, Technical & Medical 1,264 1,346 +6% +4% +4% Legal 781 842 +8% +4% +4% Exhibitions 121 394 +226% +226% nm RELX 3,394 3,969 +17% +13% nm nm – not meaningful 15 1
Slide 9: Adjusted operating margin; Adjusted income statement
Adjusted operating margin 6 months to 30 June 2021 2022 Risk 37.2% 37.5% Scientific, Technical & Medical 36.9% 37.1% Legal 19.3% 19.6% Exhibitions nm 15.0% RELX 30.1% 31.2% nm – not meaningful 17 17 Adjusted income statement change at 2021 2022 constant 6 months to 30 June £m £m change currencies Re
Slide 10: Free cash flow; Uses of free cash flow
Free cash flow 2021 2022 6 months to 30 June £m £m Adjusted operating profit 1,023 1,239 Depreciation and other amortisation 237 228 EBITDA 1,260 1,467 Capital expenditure (150) (192) Repayment of lease principal (net) (38) (39) Working capital and other items 78 44 Adjusted cash flow 1,150 1,280 Ca
Slide 11: Summary
Erik Engstrom, CEO 21 21 Summary H1 2022 • Strong financial results • Further operational and strategic progress Full year 2022 outlook • As we enter the second half, momentum remains strong across the group, and we continue to expect full year underlying growth rates in revenue and adjusted operati
Slide 12: Appendices; RELX revenue by segment
Appendices 24 RELX revenue by segment 25 RELX revenue by category 26 RELX revenue by format 27 Risk: revenue split 28 STM: revenue split 29 Legal: revenue split 30 Exhibitions: revenue split 31 Exhibitions: revenue and cost 32 Balance sheet 33 Exchange rates and shares outstanding 34 Corporate respo
Slide 13: RELX revenue by category; RELX revenue by format
RELX revenue by category H1 2022 Format Geography Type Print Rest of Face- 6% world to-face 9% 19% Transactional* 44% Europe 21% North Subscription Electronic America 56% 85% 60% * Includes long term contracts with volumetric elements 25 25 RELX revenue by format 2000- H1 2022: 8% 7% 6% 11% 10% 9% 1
Slide 14: Risk; Scientific, Technical & Medical revenue split
Risk H1 2022 revenue £1,387m Format Geography Type Face-to-face Rest of world 1% 7% Europe Subscription 13% 39% Electronic North America Transactional* 99% 80% 61% * c90% under long term contracts with volumetric elements 27 27 Scientific, Technical & Medical H1 2022 revenue £1,346m Format Geography
Slide 15: Legal; Exhibitions revenue split
Legal H1 2022 revenue £842m Format Geography Type Print Rest of world 10% 12% Transactional Face-to-face 22% 1% Europe 21% Electronic Subscription North America 89% 78% 67% 29 29 Exhibitions H1 2022 revenue £394m Format Geography Source Electronic North America Admission fees 8% Rest of world 25% an
Slide 16: Exhibitions revenue and cost; Balance sheet
Exhibitions revenue and cost FY FY FY H1 H1 £m 2019 2020* 2021 2021 2022 Revenue 1,269 362 534 121 394 Cost (986) (540) (550) (184) (335) Owned portfolio profit contribution 283 (178) (16) (63) 59 JV contribution 48 14 26 15 - Adjusted operating profit 331 (164) 10 (48) 59 * Excluding exceptional co
Slide 17: Exchange rates and shares outstanding; Corporate responsibility recognition
Exchange rates and shares outstanding At 31 Dec At 30 June Average Average Average 2021 2022 HY 2021 FY 2021 HY 2022 Exchange rates £:$ 1.35 1.22 1.39 1.38 1.30 £:€ 1.19 1.16 1.15 1.16 1.19 Shares outstanding Total (m) 1,929 1,917 1,927 1,928 1,925 33 33 Corporate responsibility - external recogniti