RELX (REL) Investor Presentation summary

Business overview and strategy

• Operates as a global provider of information-based analytics and decision tools for professional and business customers, supporting better decisions and productivity.

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

• Maintains a strong global presence with over 36,000 employees and customers in more than 180 countries.

• Listed on major stock exchanges in London, Amsterdam, and New York, with a market capitalization of £56bn as of November 2025.

• Purpose-driven to benefit society by supporting research, healthcare, legal, business, and government outcomes.

Financial performance and growth

• 2024 revenue reached £9.4bn, with adjusted operating profit of £3.2bn and EBITDA margin of 39.5%.

• H1 2025 showed strong results: underlying revenue growth +7%, adjusted operating profit +9%, and EPS growth at constant currency +10%.

• Cash flow conversion remains high at 97%, with net debt/EBITDA at 1.8x.

• Dividend growth sustained at +7% in H1 2025, with a long-term track record of consistent increases.

• Return on invested capital and adjusted cash flow conversion have remained robust over recent years.

Revenue mix and segment performance

• Revenue is primarily electronic (84%), with North America contributing 60% and Europe 20%.

• Subscription-based revenue accounts for 54%, with transactional revenue at 46%.

• Risk segment leads with £3,336m revenue and #1 global market position, followed by STM (£2,624m), Legal (£1,718m), and Exhibitions (£1,239m).

• H1 2025 underlying revenue growth: Risk +8%, STM +5%, Legal +9%, Exhibitions +8%.

• Ongoing shift toward analytics and decision tools is driving higher growth and improved returns.