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Share Name Share Symbol Market Type Share ISIN Share Description
Relx Plc LSE:REL London Ordinary Share GB00B2B0DG97 ORD 14 51/116P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  5.00 0.24% 2,066.00 2,062.00 2,064.00 2,070.00 2,045.00 2,060.00 2,550,660 16:35:21
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 7,110.0 1,483.0 63.5 32.5 39,925

RELX PLC: TRADING UPDATE -- April 2021

22/04/2021 7:00am

UK Regulatory (RNS & others)


TIDMREL 
 

7.00am BST

 

22 April 2021

 

RELX, the global provider of information-based analytics and decision tools, has issued the following update on trading ahead of its Annual General Meeting, reaffirming the outlook for the full year.

 
Highlights Our three largest business areas, STM, Risk and Legal, which 
together accounted for 95% of revenue in 2020, have started the year well. 
Exhibitions, which accounted for 5% of revenue in 2020, has continued to be 
impacted significantly by the Covid-19 pandemic. Full year outlook We continue 
to 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. 
 

Scientific, Technical & Medical (38% of 2020 revenue)

   -- Electronic revenue, which represents around 85% of the divisional total, 
      has continued to grow well. Print revenues have stabilised following the 
      Covid-19 related disruption in the first half of 2020. 
 
   -- Trends in our customer environment continue to vary somewhat by segment. 
      In Primary Research we have continued to see strong growth in article 
      submissions. Open access revenues are continuing to grow very strongly 
      across geographies. Databases & tools and e-reference have started the 
      year well. 
 
   -- Full year outlook: We expect another year of modest underlying revenue 
      growth, with underlying adjusted operating profit growth slightly 
      exceeding underlying revenue growth. 
 

Risk (34% of 2020 revenue)

   -- Transactional revenue, which represents around 60% of the divisional 
      total, has seen good growth rates at the start of the year stepping up 
      further from mid-March as we begin to lap last year's Covid-19 related 
      disruption. Subscription revenue, which represents around 40% of the 
      divisional total, has remained resilient overall, albeit with some impact 
      from delays in customer product implementations last year. 
 
   -- In Business Services, demand for fraud prevention and identity products 
      continues to grow strongly, with the digital identity segment growing 
      particularly well. Insurance market activity is now showing strong growth 
      against the disrupted comparative period of the prior year. End customer 
      markets for Data Services show varying dynamics, while Government 
      continues to grow strongly. 
 
   -- Full year outlook: We expect a year of strong underlying revenue growth, 
      with the fundamentals of the majority of our customer markets in line 
      with, or slightly ahead of, pre-Covid-19 trends. We expect underlying 
      adjusted operating profit growth to broadly match underlying revenue 
      growth. 
 

Legal (23% of 2020 revenue)

   -- Electronic revenue, which represents around 85% of the divisional total, 
      has continued to see good growth. The rate of print revenue decline has 
      moderated somewhat following steeper than historical declines in 2020 due 
      to Covid-19 related disruption. 
 
   -- Trends in our major customer markets are stable, with good demand for our 
      market leading legal analytics and continued roll-out of integrated 
      functionality across our solutions. 
 
   -- Full year outlook: We expect another year of modest underlying revenue 
      growth, with underlying adjusted operating profit growth exceeding 
      underlying revenue growth. 
 

Exhibitions (5% of 2020 revenue)

   -- Exhibitions continues to be significantly impacted by Covid-19. So far 
      this year we have held 56 physical events, primarily in Japan and China, 
      with one held in the US in March. Government restrictions have prevented 
      most events from taking place in Europe and the Americas, and have 
      constrained the scale of many events elsewhere. We have continued to 
      develop and launch a range of new digital initiatives in support of our 
      customers and event brands. 
 
   -- Full year outlook: The evolving Covid-19 pandemic will continue to impact 
      our ability to hold physical events, making the outlook for the year 
      uncertain. 
 

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.

 

-ENDS-

 
ENQUIRIES:  Colin Tennant (Investors)  Paul Abrahams (Media) 
             +44 (0)20 7166 5751        +44 (0)20 7166 5724 
 

Disclaimer regarding forward-looking statements

 

This announcement contains forward--looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended. These statements are subject to risks and uncertainties that could cause actual results or outcomes of RELX PLC (together with its subsidiaries, "RELX", "we" or "our") to differ materially from those expressed in any forward--looking statement. We consider any statements that are not historical facts to be "forward--looking statements". The terms "outlook", "estimate", "forecast", "project", "plan", "intend", "expect", "should", "will", "believe", "trends" and similar expressions may indicate a forward--looking statement. Important factors that could cause actual results or outcomes to differ materially from estimates or forecasts contained in the forward--looking statements include, among others: current and future economic, political and market forces; the impact of the Covid--19 pandemic as well as other pandemics or epidemics; changes in law and legal interpretations affecting RELX intellectual property rights and internet communications; regulatory and other changes regarding the collection, transfer or use of third--party content and data; changes in the payment model for our products; demand for RELX products and services; competitive factors in the industries in which RELX operates; ability to realise the future anticipated benefits of acquisitions; significant failure or interruption of our systems; exhibitors' and attendees' ability and desire to attend face--to--face events and availability of event venues; compromises of our data security systems or other unauthorised access to our databases; legislative, fiscal, tax and regulatory developments and political risks; exchange rate fluctuations; and other risks referenced from time to time in the filings of RELX PLC with the US Securities and Exchange Commission (SEC). You should not place undue reliance on these forward--looking statements, which speak only as of the date of this announcement. Except as may be required by law, we undertake no obligation to publicly update or release any revisions to these forward--looking statements to reflect events or circumstances after the date of this announcement or to reflect the occurrence of unanticipated events.

 

Notes for Editors

 

About RELX

 

RELX is a global provider of information-based analytics and decision tools for professional and business customers. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 33,000 people of whom almost half are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York stock exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX. The market capitalisation is approximately GBP37bn/EUR43bn/$52bn.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20210421005907/en/

 
    CONTACT: 

RELX PLC

 
    SOURCE: RELX PLC 
Copyright Business Wire 2021 
 

(END) Dow Jones Newswires

April 22, 2021 02:00 ET (06:00 GMT)

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