Slide 1: Results 2024
Results 2024 Erik Engstrom, CEO, and Nick Luff, CFO 13 February 2025 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 Exchange A
Slide 2: RELX 2024
Erik Engstrom, CEO 3 3 RELX 2024 • Strong financial results • Continued operational and strategic progress 4 4
Slide 3: 2024 financial highlights; RELX revenue by segment
2024 financial highlights • Underlying revenue growth +7% • Underlying adjusted operating profit growth +10% • Adjusted EPS growth at constant currency +9% • Full year dividend growth +7% Dividend growth calculated in GBP 5 5 RELX revenue by segment (2024 underlying revenue growth %) Exhibitions (+1
Slide 4: Risk; Scientific, Technical & Medical
Risk Underlying growth Revenue • Strong fundamentals continuing to drive underlying revenue growth +8% +8% • Business Services driven by Financial Crime Compliance and digital Fraud & Identity solutions with strong new sales • Insurance driven by further extension of solution sets; positive market f
Slide 5: Legal; Exhibitions
Legal Underlying growth Revenue • Further improvement in underlying revenue growth driven by legal analytics +6% +7% • Lexis+, integrated platform leveraging extractive AI, performing well • Lexis+ AI, leveraging generative AI, making good progress in US and international markets 2023 2024 • Protégé
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: 2024 financial highlights; Revenue
2024 financial highlights Income statement highlights • Underlying revenue growth +7% • Underlying adjusted operating profit growth +10% • Adjusted operating profit margin 33.9% • Adjusted EPS growth at constant currency +9% Cash flow and balance sheet highlights • Return on invested capital 14.8% •
Slide 8: Adjusted operating profit; Adjusted operating margin
Adjusted operating profit Constant 2023 2024 Change currency Underlying Year to 31 December GBPm GBPm in GBP growth growth Risk 1,165 1,228 +5% +9% +9% Scientific, Technical & Medical 1,165 1,172 +1% +4% +5% Legal 393 412 +5% +8% +9% Exhibitions 319 398 +25% +32% +31% Unallocated central costs and o
Slide 9: Adjusted income statement; Free cash flow
Adjusted income statement Constant 2023 2024 Change currency Underlying Year to 31 December GBPm GBPm in GBP growth growth Revenue 9,161 9,434 +3% +6% +7% EBITDA 3,544 3,724 EBITDA margin 38.7% 39.5% Operating profit 3,030 3,199 +6% +9% +10% Operating margin 33.1% 33.9% Net interest expense (314) (2
Slide 10: Uses of free cash flow; Uses of cash - priorities
Uses of free cash flow 2023 2024 Year to 31 December GBPm GBPm Free cash flow 1,988 2,126 Acquisitions: total consideration (130) (195) Disposals: total consideration - 95 Dividends (1,059) (1,121) Share buybacks (800) (1,000) Other* (25) (68) Currency translation 184 46 Movement in net debt 158 (11
Slide 11: Summary and 2025 outlook
Erik Engstrom, CEO 21 21 Summary 2024 • Strong financial results • Continued operational and strategic progress 2025 outlook • 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 gro
Slide 12: Appendices
Appendices Slide 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 Risk: underlying revenue growth 34 STM: growth and currency analysis 35 Legal: revenue growth and margin progression 36 Exhibitions
Slide 13: RELX revenue by category; revenue by format
RELX revenue by category 2024 Format Geography Type Print Rest of Face- 4% world to-face 20% Transactional* 13% 47% Europe 22% North Subscription Electronic America 53% 83% 58% *Includes long-term contracts with volumetric elements 25 25 RELX revenue by format 2000-2024: 6% 5% 4% 9% 8% 7% 11% 10% 15
Slide 14: Risk and STM revenue split
Risk 2024 revenue £3,245m Format Geography Type Print & face-to-face Rest of world Other 1% 7% transactional Europe Subscription 14% 39% Transactional Electronic North America 61% Long-term 99% 79% contracts with volumetric elements 27 27 Scientific, Technical & Medical 2024 revenue £3,051m Format G
Slide 15: Legal and Exhibitions revenue split
Legal 2024 revenue £1,899m Format Geography Type Print & face-to-face Rest of world 9% 11% Transactional 20% Europe 21% Electronic North America Subscription 91% 68% 80% 29 29 Exhibitions 2024 revenue £1,239m Format Geography Source Electronic 7% North America Visitors Rest of world 19% and other 39
Slide 16: Risk underlying growth; STM growth and currency analysis
Risk: underlying revenue growth +9% +9% +8% +8% +8% +8% +8% +7% +7% Base market growth contribution* +3% Contribution from recent product introductions** 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Adjusted operating margin 35.9% 36.0% 36.6% 36.7% 36.8% 37.0% 37.0% 37.1% 37.2% 37.8% * Products
Slide 17: Legal and Exhibitions revenue growth and margin progression
Legal: revenue growth and margin progression Revenue Adjusted operating profit Constant Constant Adjusted Change currency Underlying Change currency Underlying operating EBITDA in GBP growth growth in GBP growth growth margin margin 2024 +3% +6% +7% +5% +8% +9% 21.7% 35.2% 2023 +4% +5% +6% +6% +7% +
Slide 18: Balance sheet; Return on invested capital
Balance sheet 31 Dec 2023 31 Dec 2024 GBPm GBPm Fixed assets* Goodwill & acquired intangible assets 9,784 9,811 Internally developed intangible assets 1,477 1,569 Property, plant & equipment, right-of-use assets and investments 487 432 Net pension balance (63) 21 Working capital (1,296) (1,262) Net
Slide 19: Exchange rates, shares outstanding; reported profit reconciliation
Exchange rates and shares outstanding At 31 Dec At 31 Dec Average Average 2023 2024 FY 2023 FY 2024 Exchange rates £:$ 1.28 1.25 1.24 1.28 £:€ 1.15 1.21 1.15 1.18 Shares outstanding Total (m) 1,881.5 1,855.9 1,891.8 1,865.9 37 37 Reported profit: reconciliation of adjusted to reported profit before
Slide 20: 2024 key corporate responsibility data
2024 key corporate responsibility data 2020 2021 2022 2023 2024 Revenue (£m) 7,110 7,244 8,553 9,161 9,434 People Percentage of women employees (%) 50 50 50 51 51 Percentage of women managers (%) 42 44 44 45 46 Percentage of women senior leaders (%) 28 30 31 31 32 Community Percentage of staff volun