TRADING UPDATE – October 2019

Regulatory News:

RELX, the global provider of information-based analytics and decision tools, reports continued underlying revenue growth in the first nine months of 2019 and reaffirms the outlook for the full year.

Highlights

→ Underlying revenue growth +4% in the first nine months of 2019, with some improvement in underlying metrics compared to the first half across all four business areas

→ Acquired 12 assets for a total consideration of £378m year to date, and disposed of 7 assets for £62m

→ Completed £550m of the previously announced £600m share buyback, with the remainder to be deployed by year end

Outlook

→ The full year outlook is unchanged. As we enter the final quarter of 2019 key business trends are in line with the full year 2018. We remain confident that, by continuing to execute on our strategy, we will deliver another year of underlying growth in revenue and in adjusted operating profit, together with growth in adjusted earnings per share on a constant currency basis in 2019

Scientific, Technical & Medical

• Underlying revenue growth YTD +1%.
• Key business trends remained positive. Electronic revenues saw continued good growth, partially offset by print declines. Primary research and databases & tools saw slightly improving trends since the first half, as we continued to enhance the functionality and increase the sophistication of our analytics. Print book sales were down in a market that declined in line with historical trends.
• Full year outlook: We continue to expect another year of modest underlying revenue growth.

Risk & Business Analytics

• Underlying revenue growth YTD +7%.
• Underlying revenue growth remained strong. Insurance continued to drive growth through the roll-out of enhanced analytics, the extension of datasets, and further expansion in adjacent verticals in a market environment that is currently more supportive than at the beginning of the year. Growth trends for Business Services have remained at historical levels since the middle of the first half. Data Services remained strong.
• Full year outlook: We continue to expect revenue growth trends to be in line with full year 2018.

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