Slide 1: First half results 2023
First half results 2023 Erik Engstrom, CEO, and Nick Luff, CFO 27 July 2023 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 Exc
Slide 2: RELX H1 2023 progress
Erik Engstrom, CEO 3 3 RELX H1 2023 progress • Strong financial results • Further strategic and operational progress 4 4
Slide 3: H1 2023 financial highlights
H1 2023 financial highlights • Underlying revenue growth +8% • Underlying adjusted operating profit growth +16% • Adjusted EPS growth at constant currency +14% • Interim dividend growth (in sterling) +8% 5 5 Revenue and adjusted operating profit Revenue H1 2023: £4,499m Adjusted operating profit H1
Slide 4: Risk and Scientific, Technical & Medical
Risk Underlying growth Revenue • Strong fundamentals driving underlying revenue growth • Business Services driven by Financial Crime Compliance and digital Fraud & +8% +7% +8% Identity solutions • Insurance strong growth reflected business momentum improvement throughout FY 2022 H1 2022 H1 2023 prio
Slide 5: Legal and Exhibitions
Legal Underlying growth Revenue • Further improvement in underlying revenue growth driven by legal analytics • Continued strong growth in law firms & corporate legal markets +5% +6% +4% • Lexis+, our integrated platform with market leading analytics, performing well, increasing adoption and usage. F
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 2023 financial highlights (CFO)
Nick Luff, CFO 13 13 H1 2023 financial highlights Income statement highlights • Underlying revenue growth +8% • Underlying adjusted operating profit growth +16% • Adjusted operating profit margin 33.0% • Adjusted EPS growth at constant currencies +14% Cash flow and balance sheet highlights • Adjuste
Slide 8: Revenue and adjusted operating profit by segment
Revenue change 2022 2023 constant change 6 months to 30 June £m £m change currency underlying Risk 1,387 1,565 +13% +8% +8% Scientific, Technical & Medical 1,346 1,476 +10% +4% +4% Legal 842 913 +8% +5% +6% Exhibitions 394 545 +38% +36% +27% RELX 3,969 4,499 +13% +9% +8% 15 15 Adjusted operating pro
Slide 9: Adjusted operating margin and income statement
Adjusted operating margin 6 months to 30 June 2022 2023 Risk 37.5% 37.5% Scientific, Technical & Medical 37.1% 37.3% Legal 19.6% 19.9% Exhibitions 15.0% 31.7% RELX 31.2% 33.0% 17 17 Adjusted income statement change 2022 2023 constant change 6 months to 30 June £m £m Change currency underlying Revenu
Slide 10: Currency profile and free cash flow
Currency profile Revenue by geographic market H1 2023 • Revenue by currency broadly matches geographic split Rest of world 20% • Hedging smooths volatility in sterling reported results Rest of North • Exchange rates impact on H1 2023 sterling adjusted EPS Europe America growth higher relative to con
Slide 11: Uses of free cash flow; corporate responsibility recognition
Uses of free cash flow 2022 2023 6 months to 30 June £m £m Free cash flow 889 928 Acquisitions: total consideration (342) (111) Dividends (682) (738) Share buybacks (300) (550) Other* (35) (19) Currency translation (445) 211 Movement in net debt (915) (279) Net debt at 30 June (6,932) (6,883) Net de
Slide 12: Summary and full year 2023 outlook
Erik Engstrom, CEO 23 23 Summary H1 2023 • Strong financial results • Further strategic and operational progress Full year 2023 outlook • As we enter the second half, momentum remains strong across the group, and we expect underlying growth rates in revenue and adjusted operating profit to remain ab
Slide 13: Appendices: RELX revenue by segment
Appendices Slide 26 RELX revenue by segment 27 RELX revenue by category 28 RELX revenue by format 29 Risk revenue split 30 STM revenue split 31 Legal revenue split 32 Exhibitions revenue split 33 Balance sheet 34 Exchange rates and shares outstanding 25 25 RELX revenue by segment (H1 2023 underlying
Slide 14: RELX revenue by category and format
RELX revenue by category H1 2023 Format Geography Type Print Rest of Face- 5% world to-face 20% Transactional* 11% 45% Europe 20% North Subscription Electronic America 55% 84% 60% * Includes long term contracts with volumetric elements 27 27 RELX revenue by format 2000 - H1 2023: 7% 6% 5% 10% 9% 8%
Slide 15: Risk and STM revenue split
Risk H1 2023 revenue £1,565m Format Geography Type Print & face-to-face Rest of world 1% 7% Europe Subscription 13% 39% Transactional* Electronic North America 61% 99% 80% * c90% under long term contracts with volumetric elements 29 29 Scientific, Technical & Medical H1 2023 revenue £1,476m Format G
Slide 16: Legal and Exhibitions revenue split
Legal H1 2023 revenue £913m Format Geography Type Print & face-to-face Rest of world 10% 12% Transactional 20% Europe 20% Electronic North America Subscription 90% 68% 80% 31 31 Exhibitions H1 2023 revenue £545m Format Geography Source Electronic 8% North America Visitors Rest of world 25% and other
Slide 17: Balance sheet; exchange rates and shares outstanding
Balance sheet 30 June 31 Dec 30 June 2022 2022 2023 £m £m £m Goodwill & acquired intangible assets 10,542 10,477 9,924 Internally developed intangible assets 1,371 1,435 1,421 Property, plant & equipment and investments 362 412 401 Right-of-use assets 153 145 125 Net pension obligations 107 (55) (5)