RELX (REL) Investor presentation summary

Business overview and strategy

• Operates as a global provider of information-based analytics and decision tools, serving professional and business customers in over 180 countries.

• Focuses on organic growth, supported by targeted acquisitions, with a primary aim to develop sophisticated analytics and decision tools across market segments.

• Strategic direction emphasizes shifting the business mix toward higher-growth analytics and decision tools, leveraging advanced technologies and deep customer understanding.

• Maintains listings in London, Amsterdam, and New York, with a market capitalization of £46bn as of September 2026.

• Employs over 37,000 people worldwide.

Financial performance and growth

• 2025 revenue reached £9.6bn, with adjusted operating profit of £3.3bn and EBITDA margin of 40.1%.

• H1 2026 saw underlying revenue growth of 7%, adjusted operating profit growth of 9%, and adjusted EPS growth of 11%.

• Cash flow conversion remains high at 99%, with net debt/EBITDA at 2.0x.

• Sustained strong long-term growth across all segments, with cost growth managed below revenue growth.

• Dividend per share and return on invested capital have shown consistent increases.

Segment highlights

• Risk: Largest segment, H1 2026 revenue £1,810m, strong growth in business services, insurance, and government sectors, with 78% of revenue from North America.

• Scientific, Technical & Medical (STM): H1 2026 revenue £1,370m, 78% subscription-based, global leader in primary research and analytics.

• Legal: H1 2026 revenue £959m, 84% subscription-based, double-digit growth in analytics, decision tools, and workflow solutions.

• Exhibitions: H1 2026 revenue £575m, strong recovery and growth, with 73% of revenue from exhibitors.