Slide 1: Results 2022
Results 2022 Erik Engstrom, CEO, and Nick Luff, CFO 16 February 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 Exchange A
Slide 2: RELX 2022
Erik Engstrom, CEO 3 3 RELX 2022 • Strong financial results • Further operational and strategic progress • Continued strong corporate responsibility performance 4 4
Slide 3: 2022 financial highlights
2022 financial highlights • Underlying revenue growth +9% • Underlying adjusted operating profit growth +15% • Adjusted EPS growth at constant currency +10% • Full year dividend growth (in sterling) +10% 5 5 Revenue and adjusted operating profit Revenue 2022: £8,553m Adjusted operating profit 2022:
Slide 4: Risk and Scientific, Technical & Medical
Risk Underlying growth Revenue • Strong fundamentals driving underlying revenue growth • Business Services strong growth driven by Financial Crime & Compliance and +9% +8% fraud prevention analytics and decision tools; digital identity solutions performing very strongly 2021 2022 • Insurance momentu
Slide 5: Legal and Exhibitions
Legal Underlying growth Revenue • Further improvement in underlying revenue growth driven by legal analytics • Continued enhancement of functionality of integrated research and leading +5% analytics +3% • Lexis+ performing well; strong uptake across segments 2021 2022 • Renewal rates strong; new sal
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: 2022 financial highlights
Nick Luff, CFO 13 13 2022 financial highlights Income statement highlights • Underlying revenue growth +9% • Underlying adjusted operating profit growth +15% • Adjusted operating profit margin 31.4% • Adjusted EPS growth at constant currencies +10% Cash flow and balance sheet highlights • Return on
Slide 8: Revenue and adjusted operating profit
Revenue change 2021 2022 constant change Year to 31 December £m £m change currency underlying Risk 2,474 2,909 +18% +8% +8% Scientific, Technical & Medical 2,649 2,909 +10% +4% +4% Legal 1,587 1,782 +12% +5% +5% Exhibitions 534 953 +78% +76% +64% RELX 7,244 8,553 +18% +11% +9% 15 15 Adjusted operati
Slide 9: Adjusted operating margin and income statement
Adjusted operating margin Year to 31 December 2021 2022 Risk 37.0% 37.1% Scientific, Technical & Medical 37.8% 37.8% Legal 20.5% 20.9% Exhibitions 1.9% 17.0% RELX 30.5% 31.4% 17 17 Adjusted income statement change 2021 2022 constant change Year to 31 December £m £m change currency underlying Revenue
Slide 10: Free cash flow and uses of free cash flow
Free cash flow 2021 2022 Year to 31 December £m £m Adjusted operating profit 2,210 2,683 Depreciation and amortisation of internally developed intangibles 347 356 Depreciation of right-of-use assets 80 63 Pre-publication amortisation 60 72 EBITDA 2,697 3,174 Capital expenditure (337) (436) Repayment
Slide 11: Uses of cash - priorities
Uses of cash - priorities 2018 2019 2020 2021 2022 1. Organic development 436 Average: 362 380 362 337 Capex (£m) 5% of sales 1 2 3 4 5 978 878 2. Portfolio development Average: 416 443 Acquisition consideration (£m) 255 c£600m 1 2 3 4 5 880 920 983 796 842 3. Dividends Dividend cover: Total payout
Slide 12: 2022 key corporate responsibility data
2022 key corporate responsibility data 2018 2019 2020 2021 2022 Revenue (£m) 7,492 7,874 7,110 7,244 8,553 People Percentage of women employees (%) 51 50 50 50 50 Percentage of women managers (%) 42 42 42 44 44 Percentage of women senior leaders (%) 28 30 28 30 31 Community Total number of days volu
Slide 13: Summary and 2023 outlook
Erik Engstrom, CEO 25 25 Summary 2022 • Strong financial results • Further operational and strategic progress • Continued strong corporate responsibility performance 2023 outlook • Momentum remains strong across the group, and we expect underlying growth rates in revenue and adjusted operating profi
Slide 14: Appendices: RELX revenue by segment
Appendices 28 RELX revenue by segment 39 Reconciliation of adjusted to reported profit before tax 29 RELX revenue by category 40 Balance sheet 30 RELX revenue by format 41 Return on invested capital 31 Risk: revenue split 42 Currency profile 32 Risk: underlying revenue growth 43 Exchange rates and s
Slide 15: RELX revenue by category and format
RELX revenue by category 2022 Format Geography Type Print Rest of Face- 6% world to-face 19% Transactional* 11% 46% Europe 21% North Subscription Electronic America 54% 83% 60% * Includes long term contracts with volumetric elements 29 29 RELX revenue by format 2000-2022: 8% 7% 6% 11% 10% 9% 15% 13%
Slide 16: Risk revenue split and growth
Risk 2022 revenue £2,909m Format Geography Type Face-to-face & print Rest of world 1% 7% Europe Subscription 13% 39% Transactional* Electronic North America 61% 99% 80% * c90% under long term contracts with volumetric elements 31 31 Risk underlying revenue growth +9% +9% +8% +8% +8% +7% +7% Base mar
Slide 17: Scientific, Technical & Medical
Scientific, Technical & Medical 2022 revenue £2,909m Format Geography Type Print 11% Rest of world Transactional 31% North 26% America 48% Electronic Europe Subscription 89% 21% 74% 33 33 Scientific, Technical & Medical Growth and currency analysis Period Total Portfolio Constant change in Other Tot
Slide 18: Legal revenue split and progression
Legal 2022 revenue £1,782m Format Geography Type Print Rest of world 11% 12% Transactional 23% Europe 20% Electronic North America Subscription 89% 68% 77% 35 35 Legal revenue, profit and margin progression Revenue growth Adjusted operating profit growth Adjusted Reported Reported operating Constant
Slide 19: Exhibitions and cycling impact
Exhibitions 2022 revenue £953m Format Geography Source Electronic 7% North America Admission Rest of world 19% fees 34% and other 29% Europe Face-to-face Exhibitor fees 71% 47% 93% 37 37 Exhibitions: cycling impact Revenue growth 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Total at constant cu
Slide 20: Reported profit and balance sheet
Reported profit Reconciliation of adjusted to reported profit before tax 2021 2022 Year to 31 December £m £m change Adjusted profit before tax 2,077 2,489 +20% Adjustments: Amortisation of acquired intangible assets (298) (296) Acquisition-related items (21) (62) Disposals and other non-operating it
Slide 21: Return on invested capital and currency profile
Return on invested capital 2021 2022 Year to 31 December £m £m Adjusted operating profit 2,210 2,683 Tax at effective rate (409) (571) Effective tax rate 18.5% 21.3% Adjusted operating profit after tax 1,801 2,112 Average invested capital (at average FX rates) 15,108 16,920 Return on invested capita
Slide 22: Exchange rates and shares outstanding
Exchange rates and shares outstanding At 31 Dec At 31 Dec Average Average 2021 2022 FY 2021 FY 2022 Exchange rates £:$ 1.35 1.21 1.38 1.24 £:€ 1.19 1.13 1.16 1.17 Shares outstanding Total (m) 1,929.4 1,909.5 1,928.0 1,918.5 43 43