RELX(RELX)2023-02-23 20:41Financial Performance - Revenue for 2022 was £8,553 million, an increase of 18% from £7,244 million in 2021, with underlying growth of 9%[10] - Adjusted operating profit rose to £2,683 million, up 21% from £2,210 million, with underlying growth of 15%[10] - Adjusted earnings per share increased by 10% at constant currencies to 102.2p, compared to 87.6p in 2021[15] - Proposed full-year dividend increased by 10% to 54.6p, up from 49.8p[16] - In 2022, RELX reported revenues of £2,909 million, an increase of 18% from £2,474 million in 2021, with 80% of revenue coming from North America[93] - Revenue for 2022 was £2,909 million, an increase of 8% from £2,474 million in 2021[123] - LexisNexis Legal & Professional reported revenues of £1,782 million in 2022, up from £1,587 million in 2021, with 68% of revenue coming from North America[181] Debt and Cash Flow - Net debt at the end of 2022 was £6.6 billion, with a net debt/EBITDA ratio of 2.1x, down from 2.4x in 2021[17] - Cash flow conversion remained strong at 101%, contributing to a reduction in leverage[27] - The company deployed £500 million on share buybacks in 2022 and plans to deploy a total of £800 million in 2023[18] Emissions and Sustainability - Scope 1 and Scope 2 emissions decreased by 15% to 42,481 tCO2e from 49,695 tCO2e[11] - The company reduced Scope 1 and 2 carbon emissions by 15% and ensured 100% of electricity came from renewable sources[31] - The company received a AAA MSCI ESG rating for the seventh consecutive year, highlighting its commitment to corporate responsibility[32] User Engagement and Content - The number of unique users of the SDG Resource Centre increased to 155,082, up from 133,832[13] - In 2022, the company published over 600,000 new research articles, with its journals accounting for approximately 18% of global research output and 28% of citations[150] - The company launched 88 new journals, primarily Gold open access, increasing its portfolio to over 700 Gold open access journals[150] - The ScienceDirect platform received 1.3 billion visits annually, with 600,000 searches performed daily[174] - In 2022, Elsevier published over 600,000 articles from nearly 2.7 million submissions, maintaining a high publication rate[177] Strategic Focus and Investments - RELX's strategic focus remains on organic development of sophisticated analytics and decision tools, supplemented by selective acquisitions[33] - The company aims to expand content quality and coverage while integrating analytics and technology to improve decision-making[155] - RELX's technology investment amounts to $1.6 billion annually, supporting the development of advanced analytics and decision-making tools[73] Revenue Composition - Subscription revenue accounted for 39% of RELX's total revenue, while transactional revenues made up 61%[93] - Subscription revenue represented 74% of total revenue, while transactional revenue accounted for 26%[136] - Business Services, representing around 45% of RELX's revenue, saw strong growth driven by financial crime and compliance analytics[119] - Insurance Solutions, accounting for just under 40% of revenue, experienced improved momentum in auto insurance and new sales growth[120] - Specialised Industry Data Services, which represents just over 10% of revenue, showed strong growth with aviation returning to historical trends[121] - Government Solutions continues to expand its services, driven by the demand for fraud prevention tools amid increased government funding[111] Future Outlook - The company expects strong underlying revenue growth in 2023, aligning with historical trends, with adjusted operating profit growth broadly matching revenue growth[122] - The company expects underlying revenue growth to remain above historical trends in 2023, with adjusted operating profit growth slightly exceeding revenue growth[169]