RELX(US:RELX)2019-02-28 14:32Revenue and Profit - Revenue for the year ended December 31, 2018, was £7,492 million, an increase of 2.1% from £7,341 million in 2017[30] - Operating profit for 2018 was £1,964 million, up from £1,905 million in 2017, reflecting a growth of 3.1%[30] - Net profit attributable to RELX PLC shareholders for 2018 was £1,422 million, compared to £1,648 million in 2017, indicating a decrease of 13.7%[30] - The company’s net profit for the year was £1,428 million, a decrease from £1,656 million in 2017, reflecting a decline of 13.8%[30] - Earnings per RELX PLC ordinary share for 2018 was 71.9p, a decrease of 11.5% from 81.6p in 2017[34] - Reported net profit attributable to shareholders decreased by 14% to £1,422 million, down from £1,648 million in 2017[132] - Adjusted earnings per share increased by 6% to 84.7p, with a 7% rise at constant exchange rates[133] Assets and Liabilities - Total assets as of December 31, 2018, were £13,999 million, an increase from £12,632 million in 2017, representing a growth of 10.8%[31] - Non-current borrowings increased to £4,973 million in 2018 from £4,491 million in 2017, reflecting a rise of 10.7%[31] - Shareholders' equity as of December 31, 2018, was £2,329 million, slightly up from £2,292 million in 2017, showing an increase of 1.6%[31] - As of December 31, 2018, net borrowings amounted to £6,177 million, an increase of £1,135 million from £5,042 million in 2017[207] - Total borrowings rose to £6,365 million in 2018 from £5,253 million in 2017[208] - Gross bank and bond borrowings were £6,005 million, with lease liabilities of £360 million, while cash and cash equivalents stood at £114 million[207] Revenue Segmentation - The Scientific, Technical & Medical segment generated £2,538 million in revenue, maintaining a 34% share of total revenue[65] - Risk & Business Analytics segment revenue increased to £2,117 million, accounting for 28% of total revenue[65] - Legal segment revenue decreased to £1,618 million, representing 22% of total revenue[65] - Exhibitions segment revenue rose to £1,219 million, which is 16% of total revenue[65] - Electronic revenue accounted for £5,513 million, representing 74% of total revenue, while print revenue declined to £758 million, or 10% of total revenue[103] - North America generated £4,091 million in revenue, making up 55% of total revenue, while Europe and the rest of the world contributed £1,808 million (24%) and £1,593 million (21%) respectively[105] Expenses and Costs - Staff costs were the most significant expense, totaling £2,350 million in 2018, up from £2,273 million in 2017[106] - Reported operating costs increased to £5,560 million in 2018, up 2% from £5,473 million in 2017[125] - The company reported net finance costs of £211 million for 2018, compared to £199 million in 2017, indicating an increase of 6.0%[30] - The tax expense for 2018 was £292 million, significantly higher than £65 million in 2017, marking an increase of 349.2%[30] Dividends - Dividends per RELX PLC ordinary share for 2018 were 40.1p, up from 37.4p in 2017, marking a 7.2% increase[34] - Total dividends paid to shareholders amounted to £796 million, with a proposed final dividend of 29.7p per share, representing a 7% increase from the prior year[133] - Ordinary dividends paid to shareholders totaled £796 million in 2018, an increase from £762 million in 2017[206] Acquisitions and Capital Expenditure - Total cash spent on acquisitions in 2018 was £960 million, a significant increase from £141 million in 2017 and £367 million in 2016[76] - Capital expenditure in 2018 amounted to £365 million, up from £355 million in 2017 and £332 million in 2016, primarily focused on developing electronic products and infrastructure[78] Corporate Structure and Strategy - The company’s corporate structure was simplified in 2018, merging RELX NV into RELX PLC to form a single parent company[75] - The company plans to continue focusing on electronic and face-to-face revenue growth while addressing the decline in print revenue[124] Cash Flow and Liquidity - Cash generated from operations in 2018 was £2,555 million, up from £2,526 million in 2017[202] - The company reported a net cash inflow of £5 million from disposals in 2018, compared to £41 million in 2017[77] - The Group's liquidity was enhanced by a new $3.0 billion undrawn committed bank facility, replacing a $2.0 billion facility[210]