RELX(RELX)2025-02-20 15:31Financial Performance - Revenue for 2024 increased to £9,434 million, representing a 3% growth compared to £9,161 million in 2023, with underlying growth at 7%[10] - Adjusted operating profit rose to £3,199 million, a 6% increase from £3,030 million in 2023, with underlying growth at 10%[10] - Adjusted earnings per share grew to 120.1p, reflecting a 9% increase in constant currency, while reported earnings per share were 103.6p, up from 94.1p[15] - The operating margin improved to 33.9%, up from 33.1% in the previous year[10] - Cash generated from operations increased to £3,521 million, compared to £3,370 million in 2023[10] - The proposed full-year dividend per share is 63.0p, a 7% increase from 58.8p in 2023[10] - Net debt rose slightly to £6,563 million from £6,446 million[13] - Total Shareholder Returns over the decade reached 328%, significantly outperforming the FTSE100's 83%[15] - Adjusted earnings per share increased by 10% in 2024, while the dividend per share also rose by 10%[43] - Net debt was £6.6bn at 31 December 2024, with a net debt/EBITDA ratio of 1.8x, down from 2.0x in 2023[17] Revenue Breakdown - In 2024, RELX reported revenues of £3,245 million, an increase from £3,133 million in 2023, representing a growth of 3.6% year-over-year[69] - 79% of RELX's revenue in 2024 came from North America, with 14% from Europe and 7% from the rest of the world[69] - Subscription revenue accounted for 39% of total revenue, while transactional revenues made up 61%[69] - Underlying revenue growth for 2024 was 7%, with electronic revenue also showing growth[28] - Subscription revenue accounted for 74% of total revenue, while transactional revenues represented 26% in 2024[116] Environmental and Social Responsibility - Scope 1 and Scope 2 emissions decreased by 20% to 32,692 tCO2e from 40,933 tCO2e[11] - The percentage of women in senior leadership roles increased to 32% from 31%[11] - The company achieved a AAA MSCI rating for the ninth consecutive year and was ranked second in its sector by Sustainalytics[23] Strategic Initiatives and Investments - The company deployed £1bn on share buybacks in 2024 and plans to deploy a total of £1.5bn in 2025, with £150m already completed[18] - The company aims to enhance value through sophisticated information-based analytics and decision tools, focusing on organic growth and selective acquisitions[32][33] - The company focuses on expanding risk management solutions and investing in technology to enhance organic innovation[89] - AI and ML techniques are being developed to generate actionable insights for customers and improve internal efficiencies[90][91] Product and Service Development - The company launched the Accurint AI Insights tool for law enforcement, designed to automate crime trend identification and enhance decision-making[81] - The company introduced three new modules within the Firco Continuity platform to improve financial crime compliance and reduce false positive alerts[82] - The LexisNexis Digital Identity Network analyzed over 345 million transactions daily, detecting approximately 690 million human-initiated fraud attacks in 2024[76] - The company launched Scopus AI, a generative AI-enhanced research tool, in early 2024 to improve research insights and interdisciplinary collaboration[120] - ClinicalKey AI, launched in February 2024, is designed to support clinical decisions using generative AI, enhancing the quality of patient care[149] Market Position and Growth Outlook - The company expects continued strong underlying revenue growth in 2025, with adjusted operating profit growth slightly exceeding revenue growth[98] - The 2025 outlook anticipates strong underlying revenue growth and adjusted operating profit growth[30] - The legal analytics market is expected to grow due to increasing demand for online information solutions and decision support tools[195] Acquisitions and Partnerships - In Q4 2024, RELX signed an agreement to acquire IDVerse, a provider of AI-powered automated document authentication solutions, expected to close in early 2025[74] - The partnership with LexisNexis Risk Solutions allowed the company to leverage existing intelligence for better scam risk assessment[110] - The acquisition of Henchman enhanced document drafting capabilities, allowing legal customers to extract key insights from internal data[180] Workforce and Global Reach - The company has a workforce of 9,700 employees and serves customers in over 170 countries and territories[115] - The company reported a 20% revenue contribution from government and academic customers, with a focus on multi-year subscription contracts[189][200]