RELX (REL) Trading Update summary

Group Financial Performance and Outlook

• Underlying revenue grew 7% in the first nine months of 2024, with strong electronic and analytics-driven growth across all segments.

• Full-year outlook remains unchanged, with strong growth expected in revenue, adjusted operating profit, and adjusted EPS at constant currency.

• Electronic revenues now represent 85% of total, also growing 7%, as face-to-face growth offsets print declines.

• RELX operates in over 180 countries, with offices in about 40 countries and over 36,000 employees.

• Shares are listed in London, Amsterdam, and New York, with a market capitalization of approximately £69bn/€82bn/$89bn.

Segment Performance Highlights

• Risk division saw 8% underlying revenue growth, driven by analytics, decision tools, and strong sales in Financial Crime Compliance and digital Fraud & Identity solutions.

• Insurance growth in Risk supported by expanded solutions and positive market factors; Commodity Intelligence led Specialized Industry Data Services.

• STM division posted 4% underlying revenue growth, with electronic growth offset by accelerated print declines and strong article submissions, especially in pay-to-publish.

• Legal division revenue grew 7%, driven by analytics, AI tools, and strong renewals and new sales; Lexis+ AI rollout received positively.

• Exhibitions division achieved 13% revenue growth, reflecting portfolio improvements, favorable comparisons, and progress on digital initiatives.

Technology and Product Innovation

• Ongoing shift toward higher-growth analytics and decision tools across all segments.

• Lexis+ AI rollout is progressing well in the US and internationally, with positive customer reception.

• New AI-powered products launched in STM, including ClinicalKey AI, Scopus AI, and SharePath AI for nursing education.

• Generative AI is being used internally to drive operational efficiencies in coding, editorial, and support functions.