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RELX(RELX) - 2022 Q4 - Earnings Call Transcript
2023-02-17 02:23
Financial Data and Key Metrics Changes - Underlying revenue growth was 9%, with underlying adjusted operating profit growth at 15% [1][13] - Adjusted earnings per share increased by 10% at constant currencies, with a proposed full-year dividend increase of 10% [1][20] - Adjusted operating margin improved by almost 1 percentage point to 31.4% [13][41] - Net profit was just under £2 billion, up 10% at constant currency and up 16% in sterling [42] Business Line Data and Key Metrics Changes - In Insurance, underlying revenue growth was strong at just under 40% of divisional revenue, supported by improved market factors [2] - STM saw underlying revenue growth improve to 4%, up from 3% last year, with adjusted operating profit growth at 5% [3] - Legal experienced a further improvement in underlying revenue growth to 5%, driven by higher-growth legal analytics, with adjusted operating profit growth at 8% [4] - Exhibitions reported a remarkable 64% underlying revenue growth, driven by venue reopenings and improved profitability [5] Market Data and Key Metrics Changes - Across all market segments, the shift towards higher growth analytics and decision tools is driving long-term growth [6] - North America generated 60% of revenue, benefiting from a stronger dollar, with sterling revenue up 18% overall [14] Company Strategy and Development Direction - The company aims to sustain strong growth in Risk, continue improving growth trajectories in STM and Legal, and capture growth opportunities in Exhibitions [12][36] - The strategic focus remains on organic development of sophisticated information-based analytics and decision tools [36] Management's Comments on Operating Environment and Future Outlook - Management expects underlying growth rates in revenue and adjusted operating profit to remain above historical trends, driving strong growth in adjusted earnings per share [23] - The company is leveraging AI and machine learning to enhance operations and customer interactions, viewing this as a competitive advantage [33][140] Other Important Information - Total free cash flow was up by 18% to just under £2 billion, with significant cash utilized for acquisitions, dividends, and share buybacks [18][43] - The company achieved net zero carbon emissions across Scopes 1 and 2, with ongoing improvements in corporate responsibility metrics [46][47] Q&A Session Summary Question: What is driving the increase in article submissions? - The increase in submissions is driven by the growing number of researchers and the increasing information intensity of science, with direct open access submissions growing close to 30% [25][26][54] Question: What are the expectations for the Legal division's growth? - The Legal division is expected to maintain strong renewal rates and positive momentum in new sales, with a long-term improving growth trajectory [30][57] Question: What is the outlook for the Exhibitions division? - The Exhibitions division is recovering towards pre-pandemic levels, with margins expected to return to around 26% [66][105] Question: How is the company addressing the impact of generative AI? - The company views generative AI as an opportunity to enhance products and internal processes, with ongoing experimentation and development [87][140] Question: What are the expectations for tax rates in 2023? - The effective tax rate for 2022 was 21.3%, with expectations for it to settle in the 22% to 23% range due to changes in the UK corporation tax rate [94]
RELX(RELX) - 2022 Q2 - Earnings Call Presentation
2022-08-01 10:27
| --- | --- | --- | |----------------------|----------------------------------------|--------------| | | | | | | | | | | | | | | | | | Interim results 2022 | | | | | | | | | Erik Engstrom, CEO, and Nick Luff, CFO | | | | | | | | | 28 July 2022 | 1 | --- | |-------| | | | | | | | | | 2 | 2 | --- | --- | --- | |-------|--------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | Erik Engstrom, CEO | | | | | | | | | | | | & RELX | 3 | 3 | --- | --- | |-------------------------------------- ...
RELX PLC (RELX) CEO Erik Engstrom on H1 2022 Results - Earnings Call Transcript
2022-08-01 10:25
Summary of RELX PLC H1 2022 Results Earnings Conference Call Company Overview - **Company**: RELX PLC (NYSE:RELX) - **Date of Call**: July 28, 2022 - **Participants**: Erik Engstrom (CEO), Nick Luff (CFO), various analysts from Barclays, UBS, Exane BNP Paribas, Goldman Sachs, Citigroup, Credit Suisse, and Bernstein Key Financial Highlights - **Revenue Growth**: 13% at constant currencies - **Adjusted Operating Profit Growth**: 16% at constant currencies - **Adjusted Earnings Per Share Growth**: 14% at constant currencies - **Interim Dividend Increase**: 10% to £0.157 per share - **Total Group Revenue**: Nearly £4 billion, up 17% in sterling - **Adjusted Operating Margin**: Improved to 31.2% [3][10][12][14] Business Area Performance Risk - **Underlying Revenue Growth**: 7%, with business services (45% of revenue) showing strong growth - **Digital Identity Solutions**: Grew around 20% with acquisitions enhancing customer value [4][10] - **Profitability**: Adjusted operating profit growth in line with revenue growth [10][13] Insurance - **Revenue Contribution**: Just under 40% of divisional total - **Market Improvement**: Gradual improvement in US auto insurance market factors [4][5][10] STM (Scientific, Technical, and Medical) - **Revenue Growth**: 4%, with adjusted operating profit growth at 6% - **Open Access Articles**: 40% growth in published articles [6][10][30] Legal - **Revenue Growth**: 4%, with adjusted operating profit growth at 6% - **Electronic Revenue**: Almost 90% of divisional total, driven by legal analytics [7][10] Exhibitions - **Revenue Growth**: Over 200%, driven by venue reopenings - **Adjusted Operating Result**: Positive due to increased activity levels and lower cost structure [8][10] Strategic Outlook - **Future Expectations**: Strong underlying revenue growth anticipated to align with historical trends across all business areas [5][17] - **Focus on Digital Tools**: Continued investment in digital tools to enhance physical events in exhibitions [8][41] Cash Flow and Capital Allocation - **Cash Conversion**: Strong at 103% - **Acquisition Spend**: £342 million on six acquisitions - **Share Buyback**: £300 million in the first half, with a total plan of £500 million for the year [10][16] Risks and Concerns - **US Recession Impact**: Potential exposure of transactional revenue to economic downturns, but historical resilience noted [23][25] - **Inflationary Pressures**: No immediate pricing impact observed, but potential for adjustments in 2023 [31][33] Analyst Questions and Responses - **Growth Trajectory**: Analysts inquired about the sustainability of growth rates in STM and Legal, with management affirming a positive outlook [19][20] - **Insurance Market Factors**: Recent improvements in driving patterns and claims volumes noted as positive indicators [35] - **Exhibitions in China**: Uncertainty remains, but flexibility in scheduling events is emphasized [37][41] Conclusion - **Overall Performance**: RELX PLC reported strong financial results for H1 2022, with positive growth across all business areas and a strategic focus on enhancing customer value through digital tools and acquisitions [17][18]
RELX(RELX) - 2021 Q4 - Annual Report
2022-02-17 21:10
Table of Contents As filed with the Securities and Exchange Commission on February 17, 2022 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 Or ☑ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ...
RELX(RELX) - 2021 Q4 - Annual Report
2022-02-17 17:17
17 February 2022 ISSUED ON BEHALF OF RELX PLC Transactions in own shares RELX PLC announces that today it purchased through UBS AG London Branch 145,022 RELX PLC ordinary shares of 14 51/116 pence each on the London Stock Exchange at a price of 2245.0132 pence per share. The purchased shares will be held as treasury shares. Following the above purchase, RELX PLC holds 50,663,925 ordinary shares in treasury, and has 1,934,542,118 ordinary shares in issue (excluding treasury shares). Since 4 January 2022 RELX ...
RELX(RELX) - 2021 Q2 - Earnings Call Transcript
2021-07-31 16:24
RELX PLC (NYSE:RELX) Q2 2021 Results Conference Call July 29, 2021 3:30 AM ET Company Participants Erik Engstrom - Chief Executive Officer Nick Luff - Chief Financial Officer Conference Call Participants Adam Berlin - UBS Nick Dempsey - Barclays Sam Kassab - Exane Matthew Walker - Crédit Suisse Tom Singlehurst - Citi Matti Littunen - Bernstein Patrick Wellington - Morgan Stanley Rajesh Kumar - HSBC Erik Engstrom Good morning, everybody. Thank you taking time to join us on our call today. As you may have see ...
RELX(RELX) - 2021 Q2 - Earnings Call Presentation
2021-07-29 17:03
Interim Results 2021 Erik Engstrom, CEO, and Nick Luff, CFO 29 July 2021 DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS 2 This presentation 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 materi ...
RELX(RELX) - 2020 Q4 - Annual Report
2021-02-18 18:06
Table of Contents As filed with the Securities and Exchange Commission on February 18, 2021 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 Or ☑ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ...
RELX(RELX) - 2020 Q4 - Annual Report
2021-02-18 12:13
News Release Issued on behalf of RELX PLC 18 February 2021 Publication of Annual Report and Financial Statements 2020 RELX PLC (the "Company") has today published the following documents on the Company's website at www.relx.com: The 2020 Annual Report has been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. It has also been submitted to the Dutch Authority for the Financial Markets. The annual report on Form ...
RELX(RELX) - 2020 Q4 - Earnings Call Presentation
2021-02-12 19:18
Results 2020 Erik Engstrom, CEO, and Nick Luff, CFO 11 February 2021 DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS 2 This presentation 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 ...