RELX – Interim Results

INTERIM RESULTS FOR THE SIX MONTHS TO 30 JUNE 2021

RELX, the global provider of information-based analytics and decision tools, reports results for the first half of 2021 and updates the full year outlook.

Highlights

  • Revenue £3,394m (£3,501m), constant currency growth +4%
  • Adjusted operating profit £1,023m (£990m), constant currency growth +11%
  • Adjusted profit before tax £953m (£909m), constant currency growth +13%
  • Reported operating profit £860m (£747m)
  • Reported profit before tax £825m (£666m)
  • Adjusted EPS 40.0p (39.1p), constant currency growth +10%
  • Interim dividend 14.3p (13.6p) +5%
  • Reported EPS 34.5p (28.4p)
  • Net debt/EBITDA 2.8x; adjusted cash flow conversion 112%

Full year 2021 outlook

Based on the improved performance in Risk, STM and Legal in the first half, 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 be slightly above historical trends.

 

Chief Executive Officer, Erik Engstrom, commented:

“RELX delivered a strong first half with underlying growth trends across almost all market segments returning to the improving trajectory that we saw in the early part of 2020. We believe that this improvement is a reflection of our continuing strategy of focusing on the organic development of increasingly sophisticated analytics and decision tools that deliver enhanced value to our customers across market segments. Recent acquisitions, which have supplemented our organic growth strategy, have continued to perform well.”

Chair, Paul Walker, commented:

“I am very pleased that RELX has continued to make good progress both operationally and strategically in the first half of 2021. In the few months since taking on the position of Chair I have been impressed by the way in which RELX has prioritised supporting our customers across all business areas, and has continued to invest behind our strategic objectives whilst building on our strong ESG performance. In recognition of the positive financial momentum we have announced an increase in the interim dividend of 5% to 14.3p.”

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