Highlights
RELX has started the year well, with growth in key business metrics remaining in line with or ahead of historical trends. We believe that this is a reflection of our ongoing strategy of focusing on the organic development of increasingly sophisticated analytics and decision tools that deliver enhanced value to our customers across market segments.

Full year outlook

We expect full year underlying growth rates in revenue and adjusted operating profit, as well as constant currency growth in adjusted earnings per share, to remain above historical trends.

Risk (34% of 2021 revenue)

Key growth metrics remain in line with historical averages. In Business Services, strong growth continues to be driven by fraud prevention analytics and digital identity solutions. Insurance continues to drive growth through the roll-out of enhanced analytics. Specialised Industry Data Services growth varies by segment, but continues to grow strongly overall. In Government, growth has remained strong.Full year outlook: We expect strong underlying revenue growth, in line with historical trends, with underlying adjusted operating profit growth broadly matching underlying revenue growth.

Scientific, Technical & Medical (37% of 2021 revenue)

Key growth metrics remain above historical averages. Growth in Primary Research reflects subscription renewals and strong growth in Open Access. Strong growth in Databases, Tools & Electronic Reference has been maintained, and print revenue has continued to decline.Full year outlook: We expect underlying revenue growth to remain above historical trends, with underlying adjusted operating profit growth slightly exceeding underlying revenue growth.


Legal (22% of 2021 revenue)

Key growth metrics remain above historical averages. Renewals and new sales have been strong in supportive legal market conditions. Customer adoption of analytics has continued to increase across segments.Full year outlook: We expect underlying revenue growth to remain above historical trends, with underlying adjusted operating profit growth continuing to exceed underlying revenue growth.

Exhibitions (7% of 2021 revenue)

The reopening of exhibition venues across geographies has continued to drive strong growth.Full year outlook: We expect a year of strong underlying revenue growth. The operating result will continue to benefit from the structurally lower cost base.

Underlying growth rates are calculated at constant currencies, excluding the results of acquisitions until twelve months after purchase, and excluding the results of disposals and assets held for sale. Underlying revenue growth rates also exclude exhibition cycling, and timing effects.

ENQUIRIES:

Colin Tennant (Investors)
+44 (0)20 7166 5751

Paul Abrahams (Media)
+44 (0)20 7166 5724

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