2020 Highlights
Our three largest business areas, STM, Risk and Legal, which together accounted for 95% of RELX revenue in 2020, all continued to deliver underlying growth in revenue and in adjusted operating profit.
Electronic revenue, representing 87% of the total, grew well across all divisions, in line with recent years. Print revenue, which represented 8% of the total, declined more steeply than in recent years.
Exhibitions, which accounted for 5% of revenue in 2020, has been impacted significantly by the Covid-19 pandemic.

We are proposing a 3% increase in the full year dividend to 47.0p (45.7p).
2020 £m 2019 £m Change
Three largest business areas:
Revenue 6,748 6,605 +2%
Adjusted operating profit 2,245 2,165 +4%
Exhibitions:
Revenue 362 1,269 -71%
Adjusted operating profit (164) 331 -150%

RELX revenue by format:
Electronic 6,179 5,929 +4%
Print 586 685 -14%
Face-to-face 345 1,260 -73%
2020 Results summary
? Revenue £7,110m (£7,874m)
? Adjusted operating profit £2,076m (£2,491m)
? Adjusted profit before tax £1,916m (£2,200m)
? Reported operating profit £1,525m (£2,101m)
? Reported profit before tax £1,483m (£1,847m)
? Adjusted EPS 80.1p (93.0p)
? Proposed full year dividend 47.0p (45.7p)
? Reported EPS 63.5p (77.4p)
? Net debt/EBITDA 3.3x; cash conversion rate 97%
? Completed 11 acquisitions for total consideration of £878m

2021 Outlook
We expect each of our three largest business areas, STM, Risk and Legal, to deliver another year of underlying
revenue and adjusted operating profit growth in 2021, similar to pre-Covid-19 trends. The timing and pace of
recovery in Exhibitions remains uncertain.
ENQUIRIES: Colin Tennant (Investors)

see & read more on
https://www.relx.com/~/media/Files/R/RELX-Group/documents/press-releases/2021/results-2020-pressrelease.pdf


tijd 09.04
RELX EUR 20,50 +24ct vol.l 27.094