RELX (RELX) 20-F 20 Feb 25 2024 FY Annual report (foreign) Financial data

Cover Page

Cover Page	12 Months Ended
	Dec. 31, 2024 shares
Document Information
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	1-13334
Entity Registrant Name	RELX PLC
Entity Central Index Key	0000929869
Entity Incorporation, State or Country Code	X0
Entity Address, Address Line One	1-3 Strand
Entity Address, City or Town	London
Entity Address, Postal Zip Code	WC2N 5JR
Entity Address, Country	GB
Entity Common Stock, Shares Outstanding	1,855,941,895
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Auditor Firm ID	1438
Auditor Name	Ernst & Young LLP
Auditor Location	London, United Kingdom
Amendment Flag	false
Business Contact
Document Information
Contact Personnel Name	Henry Udow
Entity Address, Address Line One	Company Secretary
Entity Address, Address Line Two	RELX PLC
Entity Address, Address Line Three	1-3 Strand
Entity Address, City or Town	London
Entity Address, Postal Zip Code	WC2N 5JR
Entity Address, Country	GB
Contact Personnel Fax Number	+44 20 7166 5500
Contact Personnel Email Address	henry.udow@relx.com
American Depositary Shares
Document Information
Title of 12(b) Security	American Depositary Shares(each representing one RELX PLC ordinary share)
Trading Symbol	RELX
Security Exchange Name	NYSE
Ordinary shares
Document Information
Title of 12(b) Security	Ordinary shares of 14 51/116p each(the “RELX PLC ordinary shares”)
No Trading Symbol Flag	true
Security Exchange Name	NYSE
1.300% Guaranteed Notes due 2025
Document Information
Title of 12(b) Security	1.300% Guaranteed Notes due 2025
Trading Symbol	RELX/25
Security Exchange Name	NYSE
4.000% Guaranteed Notes due 2029
Document Information
Title of 12(b) Security	4.000% Guaranteed Notes due 2029
Trading Symbol	RELX/29
Security Exchange Name	NYSE
3.000% Guaranteed Notes due 2030
Document Information
Title of 12(b) Security	3.000% Guaranteed Notes due 2030
Trading Symbol	RELX/30
Security Exchange Name	NYSE
4.750% Guaranteed Notes due 2032
Document Information
Title of 12(b) Security	4.750% Guaranteed Notes due 2032
Trading Symbol	RELX/32
Security Exchange Name	NYSE

Consolidated Income Statement

Consolidated Income Statement - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement
Revenue	£ 9,434	£ 9,161	£ 8,553
Cost of sales	(3,300)	(3,216)	(3,045)
Gross profit	6,134	5,945	5,508
Selling and distribution costs	(1,470)	(1,459)	(1,385)
Administration and other expenses	(1,846)	(1,850)	(1,819)
Share of results of joint ventures and associates	43	46	19
Operating profit	2,861	2,682	2,323
Finance income	6	8	4
Finance costs	(304)	(323)	(205)
Net finance costs	(298)	(315)	(201)
Disposals and other non-operating items	(6)	(72)	(9)
Profit before tax	2,557	2,295	2,113
Current tax	(607)	(575)	(534)
Deferred tax	(6)	68	53
Tax expense	(613)	(507)	(481)
Net profit for the year	1,944	1,788	1,632
Attributable to:
Shareholders	1,934	1,781	1,634
Non-controlling interests	10	7	(2)
Net profit for the year	£ 1,944	£ 1,788	£ 1,632
Basic earnings per share
Basic earnings per share	£ 1.036	£ 0.941	£ 0.852
Diluted earnings per share
Diluted earnings per share	£ 1.031	£ 0.936	£ 0.847

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement Of Comprehensive Income
Net profit for the year	£ 1,944	£ 1,788	£ 1,632
Items that will not be reclassified to profit or loss:
Actuarial gains/(losses) on defined benefit pension schemes	43	(75)	164
Tax on items that will not be reclassified to profit or loss	(11)	19	(43)
Total items that will not be reclassified to profit or loss	32	(56)	121
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign operations	175	(285)	427
Fair value movements on cash flow hedges	11	29	(18)
Transfer to profit from cash flow hedge reserve	(20)	18	(17)
Tax on items that may be reclassified to profit or loss	3	(12)	8
Total items that may be reclassified to profit or loss	169	(250)	400
Other comprehensive income/(loss) for the year	201	(306)	521
Total comprehensive income for the year	2,145	1,482	2,153
Attributable to:
Shareholders	2,135	1,475	2,155
Non-controlling interests	10	7	(2)
Total comprehensive income for the year	£ 2,145	£ 1,482	£ 2,153

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Cash generated from operations	£ 3,521	£ 3,370	£ 3,061
Interest paid (including lease interest)	(257)	(303)	(169)
Interest received	6	9	4
Tax paid (net)	(662)	(619)	(495)
Net cash from operating activities	2,608	2,457	2,401
Cash flows from investing activities
Acquisitions	(170)	(124)	(394)
Purchases of property, plant and equipment	(20)	(30)	(36)
Expenditure on internally developed intangible assets	(464)	(447)	(400)
Purchase of investments	(4)	(8)	(66)
Proceeds from disposals of property, plant and equipment		7
Gross proceeds from business disposals and sale of investments	74	21	19
Payments on business disposals	(28)	(9)	(15)
Dividends received from joint ventures and associates	37	21	33
Net cash used in investing activities	(575)	(569)	(859)
Cash flows from financing activities
Dividends paid to shareholders	(1,121)	(1,059)	(983)
Distributions to non-controlling interests	(9)	(7)	(9)
(Decrease)/increase in short-term bank loans, overdrafts and commercial paper	461	84	(101)
Issuance of term debt	711	651	397
Repayment of term debt	(1,017)	(847)	(35)
Repayment of leases	(63)	(72)	(79)
Receipts in respect of subleases	2	2	1
Acquisition of non-controlling interest	(1)		(1)
Repurchase of ordinary shares	(1,000)	(800)	(500)
Purchase of shares by Employee Benefit Trust	(75)	(50)	(50)
Proceeds on issue of ordinary shares	47	41	26
Net cash used in financing activities	(2,065)	(2,057)	(1,334)
Increase/(decrease) in cash and cash equivalents	(32)	(169)	208
Movement in cash and cash equivalents
At start of year	155	334	113
Increase/(decrease) in cash and cash equivalents	(32)	(169)	208
Exchange translation differences	(4)	(10)	13
At end of year	£ 119	£ 155	£ 334

Consolidated Statement of Finan

Consolidated Statement of Financial Position - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023
Non-current assets
Goodwill	£ 8,216	£ 8,023
Intangible assets	3,164	3,238
Investments in joint ventures and associates	169	178
Other investments	92	97
Property, plant and equipment	82	99
Right-of-use assets	89	113
Other receivables	16	1
Deferred tax assets	84	128
Net pension assets	186	119
Derivative financial instruments	39	47
Non-current assets	12,137	12,043
Current assets
Inventories and pre-publication costs	331	318
Trade and other receivables	2,511	2,323
Derivative financial instruments	35	34
Cash and cash equivalents	119	155
Current assets other than assets held for sale	2,996	2,830
Assets held for sale		44
Current assets	2,996	2,874
Total assets	15,133	14,917
Current liabilities
Trade and other payables	4,122	3,971
Derivative financial instruments	59	16
Debt	1,412	1,313
Taxation	119	163
Provisions	6	13
Current liabilities other than liabilities associated with assets held for sale	5,718	5,476
Liabilities associated with assets held for sale		14
Current liabilities	5,718	5,490
Non-current liabilities
Derivative financial instruments	126	131
Debt	5,132	5,184
Deferred tax liabilities	473	473
Net pension obligations	165	182
Other payables	13	11
Provisions	2	7
Non-current liabilities	5,911	5,988
Total liabilities	11,629	11,478
Net assets	3,504	3,439
Capital and reserves
Share capital	272	275
Share premium	1,605	1,558
Shares held in treasury	(722)	(553)
Translation reserve	567	392
Other reserves	1,759	1,788
Shareholders' equity	3,481	3,460
Non-controlling interests	23	(21)
Total equity	£ 3,504	£ 3,439

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity - GBP (£) £ in Millions	Share capital	Share premium	Shares held in treasury	Translation reserve	Other reserves	Shareholders' equity	Non-controlling interests	Total
Equity at beginning of period at Dec. 31, 2021	£ 286	£ 1,491	£ (876)	£ 250	£ 2,081	£ 3,232	£ (8)	£ 3,224
Total comprehensive income for the year				427	1,728	2,155	(2)	2,153
Dividends paid					(983)	(983)	(9)	(992)
Issue of ordinary shares, net of expenses		26				26		26
Repurchase of ordinary shares			(650)			(650)		(650)
Purchase of shares by the employee benefit trust			(50)			(50)		(50)
Cancellation of shares	(7)		1,127		(1,120)
Increase in share based remuneration reserve (including tax)					47	47		47
Settlement of share awards			35		(35)
Acquisition of non-controlling interest					(1)	(1)		(1)
Exchange differences on translation of capital and reserves							(3)	(3)
Equity at end of period at Dec. 31, 2022	279	1,517	(414)	677	1,717	3,776	(22)	3,754
Total comprehensive income for the year				(285)	1,760	1,475	7	1,482
Dividends paid					(1,059)	(1,059)	(7)	(1,066)
Issue of ordinary shares, net of expenses		41				41		41
Repurchase of ordinary shares			(800)			(800)		(800)
Purchase of shares by the employee benefit trust			(50)			(50)		(50)
Cancellation of shares	(4)		677		(673)
Increase in share based remuneration reserve (including tax)					77	77		77
Settlement of share awards			34		(34)
Exchange differences on translation of capital and reserves							1	1
Equity at end of period at Dec. 31, 2023	275	1,558	(553)	392	1,788	3,460	(21)	3,439
Total comprehensive income for the year				175	1,960	2,135	10	2,145
Dividends paid					(1,121)	(1,121)	(9)	(1,130)
Issue of ordinary shares, net of expenses		47				47		47
Repurchase of ordinary shares			(1,000)			(1,000)		(1,000)
Purchase of shares by the employee benefit trust			(75)			(75)		(75)
Cancellation of shares	(3)		853		(850)
Increase in share based remuneration reserve (including tax)					79	79		79
Settlement of share awards			53		(53)
Acquisition of non-controlling interest					(44)	(44)	43	(1)
Equity at end of period at Dec. 31, 2024	£ 272	£ 1,605	£ (722)	£ 567	£ 1,759	£ 3,481	£ 23	£ 3,504

Basis of preparation and accoun

Basis of preparation and accounting policies	12 Months Ended
	Dec. 31, 2024
Basis of preparation and accounting policies
Basis of preparation and accounting policies	1 Basis of preparation and accounting policies Basis of preparation The shares of RELX PLC are traded on the London, Amsterdam and New York stock exchanges. RELX PLC and its subsidiaries, joint ventures and associates are together known as ‘RELX’. In preparing the consolidated financial statements, subsidiaries are accounted for under the acquisition method and investments in joint ventures and associates are accounted for under the equity method. All intra-group transactions and balances are eliminated. On acquisition of a subsidiary, or interest in a joint venture or associate, fair values, reflecting conditions at the date of acquisition, are attributed to the net assets, including identifiable intangible assets acquired. Adjustments are made to bring accounting policies into line with those of the Group. The results of subsidiaries sold or acquired are included in the consolidated financial statements up to or from the date that control passes from or to the Group. Non-controlling interests in the net assets of the Group are identified separately from shareholders’ equity. Non-controlling interests consist of the amount of those interests at the date of the original acquisition and the non-controlling share of changes in equity since the date of acquisition. Acquisition of non-controlling interests represents the acquisition of minority interest holdings in subsidiaries already controlled by the Group. The directors of RELX PLC, having made appropriate enquiries, consider that adequate resources exist for the Group to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt the going concern basis in preparing the consolidated financial information for the year ended 31 December 2024. As part of the going concern assessment the directors considered the sufficiency of the Group’s liquidity resources, including committed credit facilities, over the 18 month period to 30 June 2026. Please refer to page 79 for further disclosure in respect of going concern. In preparing the Group financial statements management has considered the impact of climate change, taking into account the relevant disclosures in the Strategic Report, including those made in accordance with the recommendations of the Taskforce on Climate-related Financial Disclosure. This included an assessment of assets with indefinite and long lives and how they could be impacted by measures taken to address global warming. Recognising that the Group's operations, and the use of the Group's products, have a relatively low environmental impact, no issues were identified that would impact the carrying values of such assets or have any other material impact on the financial statements. Accounting policies The Group’s consolidated financial statements are prepared in accordance with UK adopted International Accounting Standards Foreign exchange translation The consolidated financial statements are presented in pound sterling. Unless otherwise stated, all amounts in the financial statements are in millions of pounds. Differences in subtotals in the financial statements may arise due to rounding adjustments applied during calculations. The symbols GBP and £ used throughout the financial statements relate to pound sterling. Summary consolidated financial information presented on pages 198 and 199 shows a simple translation of the Group’s consolidated financial statements into US dollars and euros respectively and do not form part of these financial statements. Transactions in foreign currencies are recorded at the rate of exchange prevailing on the date of the transaction. Non-monetary assets and liabilities that are measured at historical cost in foreign currencies are translated using the exchange rate at the date of the transaction. At each statement of financial position date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rate prevailing on the statement of financial position date. Exchange differences arising are recorded in the income statement other than where hedge accounting applies, as set out on pages 169 to 175. Assets and liabilities of foreign operations are translated at exchange rates prevailing on the statement of financial position date. Income and expense items and cash flows of foreign operations are translated at the average exchange rate for the period. Significant individual items of income and expense and cash flows in foreign operations are translated at the rate prevailing on the date of transaction. Exchange differences arising are classified as equity and transferred to the translation reserve. When foreign operations are disposed of, the related cumulative translation differences are recognised within the income statement in the period. The Group uses derivative financial instruments, primarily forward contracts, to hedge its exposure to certain foreign exchange risks. Details of the Group’s accounting policies in respect of derivative financial instruments are set out on page 169. Critical judgements and key sources of estimation uncertainty The preparation of financial statements requires management to make judgements and estimates in the application of accounting policies used to report the financial position, results and cash flows of the Group. The actual outcome may differ to these estimates. The critical judgements and key sources of estimation uncertainty are summarised below. Key sources of estimation uncertainty are significant accounting estimates with a significant risk of a material change to the carrying value of assets and liabilities within the next year. Further detail is provided in the notes to the financial statements as referenced. Critical judgements ■ Capitalisation of development spend: assessing the potential value of a development project, determining the costs which are eligible for capitalisation and the selection of appropriate asset lives (see note 14) Key sources of estimation uncertainty ■ Defined benefit pension obligation: determining an appropriate rate at which the future pension payments are discounted, mortality and inflation assumptions (see note 6) ​ 1 Basis of preparation and accounting policies (continued) Other areas of judgement and accounting estimates The consolidated financial statements include other areas of judgement and accounting estimates. These include: ■ Taxation: The valuation of provisions related to uncertain tax positions involves estimation (see note 9) ■ value in use of the businesses (see note 14) ■ Acquired intangible assets: Judgement is involved in identification of separate intangible assets on acquisition and estimation Standards and amendments effective for the year The following accounting standards and amendments were adopted during the year and had no significant impact on the Group’s accounting policies or reporting: ■ Presentation of Financial Statements ■ Presentation of Financial Statements ■ Leases ■ Statement of Cash Flows Financial Instruments – Disclosures Standards, amendments and interpretations not yet effective The following amendments and interpretations will become effective for the 2025 financial year. These are not expected to have a significant impact on the accounting policies and reporting: ■ The Effects of Changes in Foreign Exchange Rates – ■ IFRS 18 – Presentation and Disclosure in Financial Statements ​

Revenue and segment analysis

Revenue and segment analysis	12 Months Ended
	Dec. 31, 2024
Revenue, operating profit and segment analysis
Revenue, operating profit and segment analysis	2 Revenue, operating profit and segment analysis ​ Accounting policy The Group’s reported segments are based on the internal reporting structure and financial information provided to the Board. Adjusted operating profit is the key segmental profit measure used by the Group in assessing performance. Adjusted operating profit is reconciled to operating profit on page 149. Revenue arises from the provision of products and services under contracts with customers. In all cases, revenue is recognised to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services, and is recognised when the customer obtains control of the goods or service. Revenue is stated at the transaction price, which includes allowance for anticipated discounts and returns and excludes customer sales taxes and other amounts to be collected on behalf of third-parties. Where the goods or services promised within a contract are distinct, they are identified as separate performance obligations and are accounted for separately. Where separate performance obligations are identified, total revenue is allocated on the basis of relative standalone selling prices or management’s best estimate of relative value where standalone selling prices do not exist. Management estimates may include a cost-plus method or comparable product approach, but must be supported by objective evidence. A residual approach may be applied where it is not possible to derive a reliable management estimate for a specific component. Our subscription and exhibition related revenue streams generally require payment in advance of the service being provided. Payment terms offered to customers are in line with the standard in the markets and geographies we operate in, and contracts do not contain significant financing components. Contracts for our transactional electronic revenue streams generally have payments that vary with volume of usage. Other than that, our contracts do not involve variable consideration. Revenue is recognised for the various categories as follows: ■ Subscriptions – revenue comprises income derived from the periodic distribution or update of a product. Subscription revenue is generally invoiced in advance and recognised systematically over the period of the subscription. Recognition period of time; or based on the value received by the customer where the goods and services are not delivered in a consistent manner ■ Transactional – revenue is recognised when control of the product is passed to the customer or the service has been performed. For exhibitions, revenue primarily comprises income from exhibitors and attendees at exhibitions. Exhibition revenue is recognised on occurrence of the exhibition ​ 2 Revenue, operating profit and segment analysis (continued) RELX is a global provider of information-based analytics and decision tools for professional and business customers. RELX operates in four major market segments: Risk provides customers with information-based analytics and decision tools that combine public and industry-specific content with advanced technology and algorithms to assist them in evaluating and predicting risk and enhancing operational efficiency; Scientific, Technical & Medical (STM) helps ; Legal ; and Exhibitions combines industry expertise with data and digital tools to help customers connect face-to-face and digitally, learn about markets, source products and complete transactions. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ANALYSIS BY BUSINESS SEGMENT ​ Revenue Adjusted operating profit ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm 2022 GBPm 2023 GBPm 2024 GBPm Risk ​ 2,909 3,133 3,245 ​ 1,078 1,165 1,228 Scientific, Technical & Medical ​ 2,909 3,062 3,051 ​ 1,100 1,165 1,172 Legal ​ 1,782 1,851 1,899 ​ 372 393 412 Exhibitions ​ 953 1,115 1,239 ​ 162 319 398 Sub-total ​ 8,553 9,161 9,434 ​ 2,712 3,042 3,210 Unallocated central costs and other operating items ​ - - - ​ (29) (12) (11) Total ​ 8,553 9,161 9,434 ​ 2,683 3,030 3,199 ​ The share of post-tax results of joint ventures and associates included in operating profit was £43m (2023: £46m; 2022: £19m). This comprised of profit/(loss) relating to Risk of nil (2023: £(1)m; 2022: £2m), Legal £7m (2023: £10m; 2022: £7m) and Exhibitions £36m (2023: £37m; 2022: £10m). In 2022, unallocated central costs and other operating items includes a charge of £ 24 m relating to STM incurred from exchange rate movements from the translation of working capital items such as accounts receivable and payable, and intercompany balances, into relevant functional currencies and the outcome of STM’s hedging programme. The net effect of these amounts was higher in 2022 due to the extent and timing of exchange rate movements in the year and such amounts were insignificant in 2023 and 2024. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 Risk Scientific, Technical & Medical Legal Exhibitions Total Revenue by geographical market ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ 2,317 1,391 1,213 180 5,101 Europe ​ 384 614 357 445 1,800 Rest of world ​ 208 904 212 328 1,652 Total revenue ​ 2,909 ​ 2,909 ​ 1,782 ​ 953 ​ 8,553 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue by format ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Electronic ​ 2,890 ​ 2,573 ​ 1,582 ​ 67 ​ 7,112 Face-to-face ​ 11 ​ 5 ​ 10 ​ 886 ​ 912 Print ​ 8 ​ 331 ​ 190 ​ - ​ 529 Total revenue ​ 2,909 ​ 2,909 ​ 1,782 ​ 953 ​ 8,553 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue by type ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subscriptions ​ 1,135 ​ 2,139 ​ 1,381 ​ - ​ 4,655 Transactional ​ 1,774 ​ 770 ​ 401 ​ 953 ​ 3,898 Total revenue ​ 2,909 ​ 2,909 ​ 1,782 ​ 953 ​ 8,553 ​ ​ 2 Revenue, operating profit and segment analysis (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 Risk Scientific, Technical & Medical Legal Exhibitions Total Revenue by geographical market ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ 2,476 1,439 1,254 217 5,386 Europe ​ 429 666 386 427 1,908 Rest of world ​ 228 957 211 471 1,867 Total revenue ​ 3,133 ​ 3,062 ​ 1,851 ​ 1,115 ​ 9,161 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue by format ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Electronic ​ 3,111 ​ 2,762 ​ 1,667 ​ 85 ​ 7,625 Face-to-face ​ 14 ​ 7 ​ 9 ​ 1,030 ​ 1,060 Print ​ 8 ​ 293 ​ 175 ​ - ​ 476 Total revenue ​ 3,133 ​ 3,062 ​ 1,851 ​ 1,115 ​ 9,161 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue by type ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subscriptions ​ 1,255 ​ 2,261 ​ 1,460 ​ - ​ 4,976 Transactional ​ 1,878 ​ 801 ​ 391 ​ 1,115 ​ 4,185 Total revenue ​ 3,133 3,062 1,851 1,115 9,161 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 Risk Scientific, Technical & Medical Legal Exhibitions Total Revenue by geographical market ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ 2,563 1,411 1,290 231 5,495 Europe* ​ 443 656 399 527 2,025 Rest of world ​ 239 984 210 481 1,914 Total revenue ​ 3,245 ​ 3,051 ​ 1,899 ​ 1,239 ​ 9,434 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue by format ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Electronic ​ 3,226 ​ 2,785 ​ 1,730 ​ 83 ​ 7,824 Face-to-face ​ 16 ​ 6 ​ 11 ​ 1,156 ​ 1,189 Print ​ 3 ​ 260 ​ 158 ​ - ​ 421 Total revenue ​ 3,245 ​ 3,051 ​ 1,899 ​ 1,239 ​ 9,434 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue by type ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subscriptions ​ 1,260 ​ 2,250 ​ 1,515 ​ - ​ 5,025 Transactional ​ 1,985 ​ 801 ​ 384 ​ 1,239 ​ 4,409 Total revenue ​ 3,245 3,051 1,899 1,239 9,434 * Europe includes revenue of £ 613 m from the United Kingdom (2023: £ 602 m; 2022: £544 m). Over half of RELX’s revenue comes from subscription arrangements, and revenue for these is generally recognised on a straight-line basis over the time period covered by the agreement, in line with the provision of services. There are a number of multi-year contracts, mainly in Risk, where revenue is recognised on the achievement of delivery milestones or other specified performance obligations. As at 31 December 2024, the aggregate amount of the transaction price of such contracts which relates to performance obligations which have not yet been delivered was approximately £ 55 m (2023: £ 83 m). ​ ​ ​ ​ ​ ​ ​ ​ ANALYSIS OF REVENUE BY GEOGRAPHICAL ORIGIN ​ 2022 GBPm 2023 GBPm 2024 GBPm North America ​ 5,002 5,325 5,461 Europe ​ 2,974 3,117 3,270 Rest of world ​ 577 719 703 Total ​ 8,553 9,161 9,434 ​ Revenue by geographical origin from the United Kingdom in 2024 was £ 1,789 m (2023: £1,703 m; 2022: £ 1,481 m). ​ 2 Revenue, operating profit and segment analysis (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ANALYSIS BY BUSINESS SEGMENT Expenditure on acquired goodwill and intangible assets Capital expenditure additions Amortisation of acquired intangible assets Total depreciation and other amortisation ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm ​ 2022 GBPm 2023 GBPm 2024 GBPm ​ 2022 GBPm 2023 GBPm 2024 GBPm ​ 2022 GBPm 2023 GBPm 2024 GBPm Risk ​ 155 79 - ​ 122 139 148 ​ 204 194 184 ​ 94 92 99 Scientific, Technical & Medical ​ 206 3 8 ​ 103 108 104 ​ 60 59 44 ​ 119 136 125 Legal ​ 33 42 145 ​ 186 193 203 ​ 12 11 15 ​ 229 247 256 Exhibitions ​ - 8 65 ​ 28 37 29 ​ 20 16 15 ​ 49 39 45 Total ​ 394 132 218 ​ 439 477 484 ​ 296 280 258 ​ 491 514 525 ​ Capital expenditure comprises additions to property, plant and equipment and internally developed intangible assets. Depreciation and other amortisation includes depreciation on property, plant and equipment and right-of-use assets and amortisation of internally developed intangible assets and pre-publication costs. ​ ​ ​ ​ ​ ​ ​ ​ ANALYSIS OF NON-CURRENT ASSETS BY GEOGRAPHICAL LOCATION ​ 2023 GBPm 2024 GBPm North America ​ ​ 9,149 9,131 Europe ​ ​ 2,141 2,259 Rest of world ​ ​ 459 438 Total ​ ​ 11,749 11,828 ​ Non-current assets held in the United Kingdom totalled £1,242m (2023: £1,209m; 2022: £1,253m). Non-current assets by geographical location exclude amounts relating to deferred tax, pension assets and derivative financial instruments. Operating profit is reconciled to adjusted operating profit as follows: ​ ​ ​ ​ ​ ​ ​ ​ RECONCILIATION OF OPERATING PROFIT TO ADJUSTED OPERATING PROFIT 2022 GBPm 2023 GBPm 2024 GBPm Operating profit ​ 2,323 2,682 2,861 Adjustments: ​ Amortisation of acquired intangible assets ​ 296 280 258 Acquisition and disposal related items ​ 62 56 69 Reclassification of tax in joint ventures and associates ​ 4 12 12 Reclassification of finance income in joint ventures and associates ​ (2) - (1) Adjusted operating profit ​ 2,683 3,030 3,199 ​ In 2024, restructuring costs were incurred due to the disposal of some of our assets. These costs are included within acquisition and disposal related items and are excluded from adjusted operating profit. In the prior years there were no such costs.

Operating expenses

Operating expenses	12 Months Ended
	Dec. 31, 2024
Operating expenses
Operating expenses	3 Operating expenses Operating profit is stated after charging the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Note 2022 GBPm 2023 GBPm 2024 GBPm Total staff costs 5 ​ 2,906 3,108 3,120 Depreciation and amortisation ​ Amortisation of acquired intangible assets 14 ​ 294 279 258 Share of joint ventures and associates' amortisation of acquired intangible assets ​ 2 1 - Amortisation of acquired intangible assets including joint ventures and associates' share ​ 296 280 258 Amortisation of internally developed intangible assets 14 ​ 309 330 364 Depreciation of property, plant and equipment 16 ​ 47 43 34 Depreciation of right-of-use assets ​ 63 65 50 Pre-publication amortisation ​ 72 76 77 Total depreciation and other amortisation 2 ​ 491 514 525 Total depreciation and amortisation (including amortisation of acquired intangibles) ​ ​ ​ 787 794 783 Other expenses and income ​ Cost of sales including pre-publication costs and inventory expenses ​ 3,045 3,216 3,300 Short-term and low value lease expenses ​ 19 18 16 ​ The amortisation of acquired intangible assets is included within administration and other expenses. The amortisation of internally generated intangible assets is included within cost of sales, selling and distribution costs and administration and other expenses.

Auditor's remuneration

Auditor's remuneration	12 Months Ended
	Dec. 31, 2024
Auditor's remuneration.
Auditor's remuneration	4 Auditor’s remuneration ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm Auditor’s remuneration Payable to the auditors of RELX PLC ​ 0.9 0.9 0.9 Payable to the auditors of the Group’s subsidiaries ​ 8.4 8.0 7.2 Audit services ​ 9.3 8.9 ​ 8.1 Audit-related assurance services ​ 0.6 ​ 0.5 ​ 0.4 Other assurance services* ​ - ​ 0.2 ​ 0.5 Total auditor’s remuneration ​ 9.9 9.6 ​ 9.0 ​ Amounts payable to the auditors of the Group’s subsidiaries include amounts for the audit of internal controls over financial reporting in accordance with the US Sarbanes-Oxley Act. The decrease in the 2024 audit fee is mainly due to changes in scope and foreign exchange movements. The previously reported 2023 fees paid to EY for audit services have been revised to include final fees for statutory audits which took place subsequent to the audit of the RELX consolidated accounts. ​

Personnel

Personnel	12 Months Ended
	Dec. 31, 2024
Personnel
Personnel	5 Personnel ​ ​ ​ ​ Accounting policy Share based remuneration The fair value of share based remuneration is determined at the date of grant and recognised as an expense in the income statement on a straight-line basis over the vesting period, taking account of the estimated number of shares that are expected to vest. Market based performance criteria are taken into account when determining the fair value at the date of grant. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Note 2022 GBPm 2023 GBPm 2024 GBPm Staff costs Wages and salaries ​ 2,453 2,636 2,630 Social security costs ​ 257 274 280 Pensions 6 ​ 150 142 144 Share based remuneration ​ 46 56 66 Total staff costs ​ 2,906 3,108 3,120 ​ Staff costs above exclude cost of contractors and employer costs of benefits provided to employees but include amounts that are capitalised as part of capitalised development spend. The Group provides a number of share based remuneration schemes to directors and employees. The principal share based remuneration schemes are the Executive Share Option Schemes (ESOS), based saving schemes in the UK, the US and the Netherlands. Further details are provided in the Remuneration Report on pages 102 to 122. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ NUMBER OF PEOPLE EMPLOYED: FULL-TIME EQUIVALENTS* ​ At 31 December ​ Average during the year ​ 2022 2023 2024 2022 2023 2024 Business segment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk ​ 10,800 ​ 11,100 ​ 11,000 ​ 10,400 ​ 10,900 ​ 11,000 Scientific, Technical & Medical ​ 9,500 ​ 9,500 ​ 9,700 ​ 9,300 ​ 9,600 ​ 9,600 Legal ​ 11,300 ​ 11,800 ​ 11,800 ​ 10,900 ​ 11,900 ​ 11,800 Exhibitions ​ 3,300 ​ 3,500 ​ 3,300 ​ 3,300 ​ 3,500 ​ 3,500 Sub-total ​ 34,900 ​ 35,900 ​ 35,800 ​ 33,900 ​ 35,900 ​ 35,900 Corporate/shared functions ​ 800 ​ 600 ​ 600 ​ 800 ​ 600 ​ 600 Total ​ 35,700 ​ 36,500 ​ 36,400 ​ 34,700 ​ 36,500 ​ 36,500 Geographical location ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ 14,900 ​ 14,900 ​ 14,700 ​ 14,500 ​ 15,000 ​ 14,900 Europe ​ 9,800 ​ 10,000 ​ 9,300 ​ 9,500 ​ 9,900 ​ 9,600 Rest of world ​ 11,000 ​ 11,600 ​ 12,400 ​ 10,700 ​ 11,600 ​ 12,000 Total ​ 35,700 ​ 36,500 ​ 36,400 ​ 34,700 ​ 36,500 ​ 36,500 * Reported to the nearest 100. ​ The number of UK full-time equivalents as at 31 December 2024 was 5,600 (2023: 6,000; 2022: 5,800) and the average during the year was 5,700 (2023: 5,900; 2022: 5,600). ​

Pension schemes

Pension schemes	12 Months Ended
	Dec. 31, 2024
Pension schemes
Pension schemes	6 Pension schemes ​ ​ ​ ​ ​ ​ ​ ​ Accounting policy The expense of defined benefit pension schemes and other post-retirement employee benefits is determined using the projected unit credit method and charged in the income statement as an operating expense, based on actuarial assumptions reflecting market conditions at the beginning of the financial year. Actuarial gains and losses are recognised in full in the statement of comprehensive income in the period in which they occur. Past service costs and credits are recognised immediately at the earlier of when plan amendments or curtailments occur and when related restructuring costs or termination benefits are recognised. Settlements are recognised when they occur. Net pension obligations in respect of defined benefit schemes are included in the statement of financial position at the present value of scheme liabilities, less the fair value of scheme assets. Where schemes are in surplus, i.e. assets exceed liabilities, the net pension assets are separately included in the statement of financial position. Any net pension asset is limited to the extent that the asset is recoverable. The expense of defined contribution pension schemes and other employee benefits is charged in the income statement as incurred. At 31 December 2024, the Group operates defined benefit pension schemes in the UK and the US. These schemes require management to exercise judgement in: estimating the ultimate cost of providing post-employment benefits, especially given the length of each scheme’s liabilities and; for funded schemes in an accounting surplus position, whether the surplus can be recognised. Key source of estimation uncertainty Accounting for defined benefit pension schemes involves judgement and estimation about uncertain events, including the life expectancy of the members, inflation and the rate at which the future pension payments are discounted. Estimates for these factors are used in determining the pension cost and liabilities reported in the financial statements. The estimates made around future developments of each of the critical assumptions are made in conjunction with independent actuaries. Each scheme is subject to a periodic review by independent actuaries. The discount rate, inflation rate and mortality assumptions may have a material effect in determining the defined benefit pension obligation and costs which are reported in the financial statements. Information regarding the more significant assumptions used for valuation is provided below, together with a sensitivity analysis. ​ A number of pension schemes are operated around the world. The largest funded defined benefit schemes as at 31 December 2024 were in the UK and the US, and are summarised below. In addition, there are a number of smaller unfunded schemes in the UK and the US. Major defined benefit schemes in place at 31 December 2024 The UK scheme is a final salary scheme and is closed to new hires. Members accrue a portion of their final pensionable earnings based on the number of years of service. The US scheme is a cash balance scheme and is closed to future accruals effective 1 January 2019. Each of the major defined benefit schemes is administered by a separate fund that is legally separated from the Group. The trustees the pension funds in the UK and plan fiduciaries of the US scheme are required by law to act in the interest of the funds’ beneficiaries. In the UK, the trustees of the pension fund are responsible for the investment policy with regard to the assets of the fund. The board of trustees consists of an equal number of company-appointed and member-nominated Directors. In the US, the fiduciary duties for the scheme are allocated between committees which are staffed by senior employees of the Group; the investment committee has the primary responsibility for the investment and management of plan assets. The funding of the Group’s major schemes reflects the different rules within each jurisdiction. In the UK, the level of funding is determined by statutory triennial actuarial valuations in accordance with pensions legislation. Where the scheme falls below 100% funded status, the Group and the scheme trustees must agree on how the deficit is to be remedied. The UK Pensions Regulator has significant powers and sets out in codes and guidance the parameters for scheme funding. RELX provides a guarantee in respect of scheme liabilities up to a maximum amount whereby debt is calculated under Section 75 of the Pensions Act 1995. No liability has been recognised in respect of this guarantee as any possibility of triggering Section 75 is considered remote and RELX expect the scheme to continue operating with more than sufficient liquidity to meet liabilities as they fall due for the foreseeable future. The US scheme has an annual statutory valuation which forms the basis for establishing the employer contribution each year (subject to ERISA and IRS minimums). Should the statutory funded status fall to below 100% , the US Pension Protection Act requires the deficit to be rectified with additional contributions over a seven-year period. The US scheme’s funded status is in excess of 100% . The Group and the trustees of the UK scheme expect to finalise the 2024 triennial valuation in the first half of 2025 and no deficit funding contributions to the scheme are required in the period 2025 to 2027. Employer cash contributions to defined benefit pension schemes in respect of 2025 are expected to be approximately £7m. ​ 6 Pension schemes (continued) The pension expense (excluding interest amounts) recognised in the income statement consists of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm ​ 2023 GBPm ​ 2024 GBPm Defined benefit pension expense ​ 19 ​ 5 ​ 4 Defined contribution pension expense ​ 131 ​ 137 ​ 140 Total ​ 150 ​ 142 ​ 144 ​ All of the pension expense is recognised within operating profit. The amounts recognised in the income statement in respect of defined benefit pension schemes during the year are presented by major scheme as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ 2024 ​ ​ UK GBPm ​ US GBPm ​ Total GBPm ​ UK GBPm ​ US GBPm ​ Total GBPm ​ UK GBPm ​ US GBPm ​ Total GBPm Service cost ​ 16 ​ 3 ​ 19 ​ 2 ​ 3 ​ 5 ​ 1 ​ 3 ​ 4 Defined benefit pension expense ​ 16 ​ 3 ​ 19 ​ 2 ​ 3 ​ 5 ​ 1 ​ 3 ​ 4 Net interest on net defined benefit pension balance ​ 4 ​ 1 ​ 5 ​ 1 ​ - ​ 1 ​ - ​ 1 ​ 1 Net defined benefit pension expense ​ 20 ​ 4 ​ 24 ​ 3 ​ 3 ​ 6 ​ 1 ​ 4 ​ 5 ​ Net interest on the net defined benefit pension balance is presented within net finance costs in the income statement. The net defined benefit pension expense for each year is based on the assumptions and scheme valuations set at 31 December of the prior year. The significant valuation assumptions, determined for each major scheme in conjunction with the respective independent actuaries, are presented below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ AS AT 31 DECEMBER ​ 2022 ​ 2023 ​ 2024 ​ UK ​ US ​ UK ​ US ​ UK ​ US Discount rate ​ 4.90 % ​ 5.35 % ​ 4.60 % ​ 5.05 % ​ 5.55 % ​ 5.55 % Inflation ​ 3.20 % ​ 2.50 % ​ 3.05 % ​ 2.50 % ​ 3.15 % ​ 2.50 % ​ Discount rates are set by reference to high-quality corporate bond yields of a currency and a term consistent with the Group’s pension schemes. High quality corporate bonds are those for which at least one of the main ratings agencies in a given region considers to be AA-rated (or equivalent). For the UK, future price inflation, as measured by the Retail Prices Index (RPI), has been derived with regard to the term of pension liabilities, the inflation implied by redemption yields on fixed interest and index-linked gilts and allowing for inflation risk premium. The price inflation assumptions allow for the expected impact of RPI reform, in particular expectations that future levels of RPI and CPI will be broadly aligned after 2030. For the US, inflation is based on the statutory limits on compensation and benefits. Mortality assumptions make allowance for future improvements in longevity and have been determined by reference to applicable mortality statistics. Future improvements for the 2024 year-end for the UK are in line with the CMI 2023 Core Projections Model, with a long-term rate of improvement of 1.5 per cent p.a., and for the US are in line with the Mortality Improvements Scale MP-2021 developed by the Retirement Plans Experience Committee of the Society of Actuaries. The average life expectancy assumptions are set out below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ AS AT 31 DECEMBER 2022 ​ Male average life expectancy ​ Female average life expectancy ​ UK ​ US UK ​ US Member currently aged 60 years 85 ​ 86 ​ 89 ​ 88 Member currently aged 45 years 87 ​ 86 ​ 90 ​ 89 ​ ​ ​ ​ ​ ​ ​ ​ ​ AS AT 31 DECEMBER 2023 ​ Male average life expectancy ​ Female average life expectancy ​ UK ​ US UK ​ US Member currently aged 60 years 85 ​ 86 ​ 88 ​ 88 Member currently aged 45 years 86 ​ 86 ​ 90 ​ 89 ​ ​ ​ ​ ​ ​ ​ ​ ​ AS AT 31 DECEMBER 2024 ​ Male average life expectancy ​ Female average life expectancy ​ UK ​ US UK ​ US Member currently aged 60 years 85 ​ 86 ​ 89 ​ 88 Member currently aged 45 years 86 ​ 86 ​ 90 ​ 89 ​ ​ 6 Pension schemes (continued) The amount recognised in the statement of financial position in respect of defined benefit pension schemes at the start and end of the year and the movements during the year were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2024 ​ ​ UK GBPm ​ US GBPm ​ Total GBPm ​ UK GBPm ​ US GBPm ​ Total GBPm Defined benefit obligation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At start of year ​ (2,887) (865) (3,752) (2,984) (822) (3,806) Service cost (2) (3) (5) (1) (3) (4) Interest on pension scheme liabilities (138) (43) (181) (133) (40) (173) Actuarial (losses)/gains on financial assumptions (61) (19) (80) 301 20 321 Actuarial (losses)/gains arising from experience assumptions (16) 5 (11) (20) (3) (23) Contributions by employees (8) - (8) (7) - (7) Benefits paid 128 57 185 134 61 195 Exchange translation differences - 46 46 - (16) (16) At end of year (2,984) (822) ​ (3,806) ​ (2,710) ​ (803) ​ (3,513) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of scheme assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At start of year ​ 2,852 ​ 854 ​ 3,706 ​ 2,937 ​ 834 ​ 3,771 Interest income on plan assets 137 ​ 43 180 133 ​ 39 172 Return on assets excluding amounts included in interest income 1 34 35 (240) (33) (273) Contributions by employer 67 6 73 41 7 48 Contributions by employees 8 - 8 7 - 7 Benefits paid (128) (57) (185) (134) (61) (195) Exchange translation differences - (46) (46) - 14 14 At end of year 2,937 ​ 834 ​ 3,771 ​ 2,744 ​ 800 ​ 3,544 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Opening net balance (35) (11) (46) (47) 12 (35) Service cost (2) (3) (5) (1) (3) (4) Net interest on net defined benefit balance (1) - (1) - (1) (1) Contributions by employer 67 6 73 41 7 48 Actuarial (losses)/gains (76) 20 (56) 41 (16) 25 Exchange translation differences - - - - (2) (2) Net pension balance (47) ​ 12 ​ (35) ​ 34 ​ (3) ​ 31 Impact of asset ceiling (6) (22) (28) (4) (6) (10) Overall net pension balance (53) (10) (63) 30 (9) 21 ​ As at 31 December 2024, the defined benefit obligations comprised £3,348m (2023: £3,626m) in relation to funded schemes and £165m (2023: £180m) in relation to unfunded schemes. The weighted average duration of defined benefit scheme liabilities is 13 years in the UK (2023: 14 years) and 9 years in the US A net pension asset has been recognised in relation to the UK and US funded schemes after considering the guidance in IAS 19 – Employee Benefits and IFRIC 14. The UK funded scheme moved into a surplus position for the first time at the interim reporting date of 30 June 2022. The split between net pension obligations and net pension assets is as follows: ​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Net pension asset recognised ​ 119 ​ 186 Net pension obligation (182) (165) Overall net pension balance (63) 21 ​ ​ 6 Pension schemes (continued) Amounts recognised in the statement of comprehensive income are set out below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm Gains and losses arising during the year: ​ Experience losses on scheme liabilities ​ (88) (11) (23) Experience (losses)/gains on scheme assets ​ (1,820) 35 (273) Actuarial gains/(losses) on the present value of scheme liabilities due to changes in: ​ – discount rates ​ 2,000 (145) 374 – inflation ​ 32 15 (36) – other actuarial assumptions ​ 1 50 (17) ​ ​ 125 (56) 25 ​ The total actuarial gain recognised in the statement of comprehensive income of £43m (2023: a loss of £75m) also includes a gain of £18m (2023: a loss of £19m) in relation to the asset ceiling. As at 31 December 2024, the impact of the asset ceiling on the overall net pension obligation is £10m (2023: £28m). The major categories and fair values of scheme assets at the end of the reporting period are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FAIR VALUE OF SCHEME ASSETS 2023 2024 ​ UK GBPm ​ US GBPm Total GBPm UK GBPm US GBPm Total GBPm Equities ¹ ​ 431 ​ 3 ​ 434 ​ 419 ​ 2 ​ 421 Liability matching assets ² ​ 1,760 ​ 804 ​ 2,564 ​ 1,716 ​ 784 ​ 2,500 Property funds and ground leases ³ ​ 406 ​ - ​ 406 ​ 172 ​ - ​ 172 Direct lending and multi-asset credit funds ​ 229 ​ - ​ 229 ​ 333 ​ - ​ 333 Cash and cash equivalents ⁴ ​ 98 ​ 27 ​ 125 ​ 96 ​ 14 ​ 110 Other ​ 13 ​ - ​ 13 ​ 8 ​ - ​ 8 Total ​ 2,937 ​ 834 3,771 ​ 2,744 800 3,544 (1) Assets are held in unquoted funds which invest in equities with quoted prices. (2) Within the UK scheme are asset backed securities totalling £481 m (2023: £247 m), other credit assets of £487 m (2023: £452 m) and government bonds totalling £1,881 m (2023: £1,962 m) offset by forward foreign currency contracts of £2 m (2023: £4 m) and short-term sale and repurchase agreements totalling £1,131 m (2023: £910 m) whereby the UK scheme funds the purchase of government bonds using existing bonds as security. In the US, the assets primarily relate to government bonds, corporate bonds and interest rate swaps. Of the gross assets, £2,049 m (2023: £2,169 m) are assets with quoted prices in active markets. (3) Assets without quoted prices in active markets. (4) Includes £44 m (2023: £83 m) of assets with quoted prices in an active market. The remainder are held in funds which do not have quoted prices. ​ 6 Pension schemes (continued) Assets and obligations associated with the schemes are sensitive to changes in the market values of assets and the market-related assumptions used to value scheme liabilities. In particular, adverse changes to asset values, discount rates or inflation could increase future pension costs and funding requirements. Typically, the Group’s schemes are exposed to: investment risks, whereby actual rates of return on plan assets may be below those rates used to determine the defined benefit obligations; and interest rate risks, whereby scheme deficits may increase if bond yields in the UK and the US decline and are not offset by returns in liability matching and other assets. The schemes are also exposed to other risks, such as unanticipated future increases in member longevity patterns and inflation, all potentially leading to an increase in scheme liabilities. Investment policies of each scheme are intended to ensure continuous payment of defined benefit pensions in the short term and long term. Efforts are made to limit risks on marketable securities by adopting investment policies that diversify assets across geographies and among equities, liability matching assets, property funds, cash and other assets. Asset allocations are dependent on a variety of factors including the duration of scheme liabilities and the funded position of the plan. The primary UK scheme uses a liability driven investment (LDI) approach for part of the portfolio, investing primarily in government bonds so that the value of scheme assets change in the same way as the scheme’s liabilities and achieve a matching effect for the most significant plan liability assumptions of interest rates and inflation rates. Sensitivity analysis The valuation of the Group’s pension scheme liabilities involves significant actuarial assumptions, being the life expectancy of the members, inflation and the rate at which the future pension payments are discounted. Differences arising from actual experience or future changes in assumptions may materially affect future pension charges. In particular, changes in assumptions for discount rates, inflation and life expectancies that are reasonably possible would have the following approximate effects on the defined benefit pension obligations: ​ ​ ​ ​ ​ GBPm Increase/decrease of 0.5% in discount rate 124 Increase/decrease of 0.25% in the expected inflation rate 55 Increase/decrease of one year in assumed life expectancy 55 ​ The above analysis has been calculated on the same basis used to determine the defined benefit obligation recognised in the statement of financial position. There has been no change in the methods used to prepare the analysis compared with prior years. This sensitivity analysis may not be representative of the actual change in the defined benefit obligation as it is unlikely that changes in the above assumptions would occur in isolation as some of the assumptions may be correlated.

Net finance costs

Net finance costs	12 Months Ended
	Dec. 31, 2024
Net finance costs
Net finance costs	7 Net finance costs ​ ​ ​ Accounting policy Interest on borrowings is expensed as incurred. The cost of issuing borrowings is generally expensed over the period of borrowing to produce a constant periodic rate of charge. ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm Interest on short-term bank loans, overdrafts and commercial paper ​ (19) (31) (48) Interest on term debt ​ (157) (263) (228) Interest on lease liabilities ​ (6) (6) (5) Total borrowing costs ​ (182) (300) (281) Losses on loans and derivatives not designated as hedges ​ (9) (20) (20) Fair value losses on designated fair value hedge relationships ​ (9) ​ (2) ​ (2) Net financing charge on defined benefit pension schemes ​ (5) (1) (1) Finance costs ​ (205) (323) (304) Interest on bank deposits ​ 4 8 6 Finance income ​ 4 8 6 Net finance costs ​ (201) (315) (298) ​ Gains of £1m (2023: losses of £2m; 2022: gains of £2m) on derivatives designated as cash flow hedges were recognised in other comprehensive income and accumulated in the hedge reserve, and may be reclassified to the income statement in future periods. Losses of £2m (2023: £1m; 2022: £1m) in total were transferred from the hedge reserve in the period. In 2023, the interest charge on term debt includes a charge of £26 m in respect of the early redemption of bonds that were due to be repaid in August 2027.

Disposals and other non-operati

Disposals and other non-operating items	12 Months Ended
	Dec. 31, 2024
Disposals and other non-operating items
Disposals and other non-operating items	8 Disposals and other non-operating items ​ ​ ​ Accounting policy Assets of businesses that are available for immediate sale in their current condition and for which a sales process is considered highly probable to complete are classified as assets held for sale and are carried at the lower of carrying value and fair value less costs to sell. Fair value is based on anticipated disposal proceeds, typically derived from firm or indicative offers from potential acquirers. Non-current assets are not amortised or depreciated following their classification as held for sale. Liabilities of businesses held for sale are also separately classified on the statement of financial position. Fair value movements in the venture capital portfolio are reported within disposals and other items. See note 15 for further details. ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm Revaluation of investments ​ 9 (11) (2) Loss on disposal of businesses and assets held for sale ​ (18) (61) (4) Net loss on disposals and other non-operating items ​ (9) (72) (6) ​ The revaluation of investments relates to venture fund investments. During the year goodwill was impaired by £36m (2023: £42m) as the result of a number of disposals. In 2023, the impairment of goodwill of £42m was in relation to some assets held for sale within Risk which were subsequently disposed of. ​

Taxation

Taxation	12 Months Ended
	Dec. 31, 2024
Taxation
Taxation	9 Taxation ​ Accounting policy Tax expense comprises current and deferred tax. Current and deferred tax are charged or credited in the income statement except to the extent that the tax arises from a transaction or event which is recognised, in the same or a different period, outside the income statement (either in other comprehensive income, directly in equity, or through a business combination), in Current tax is the amount of corporate income taxes expected to be payable or recoverable based on the profit for the period as Current tax includes amounts provided in respect of uncertain tax positions when management expects that, upon examination of the uncertainty by a tax authority in possession of all relevant knowledge, it is more likely than not that an economic outflow will occur. Changes in facts and circumstances underlying these provisions are reassessed at the date of each statement of financial position, and the provisions are remeasured as required to reflect current information. Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the statement of financial position. Deferred tax is calculated using tax rates and laws that have been enacted or substantively enacted at the end of the reporting period, and which are expected to apply when the related deferred tax asset Deferred tax liabilities are generally recognised for all taxable temporary differences but not recognised for taxable temporary differences arising on investments in subsidiaries, joint ventures and associates where the reversal of the temporary difference can be controlled and it is probable that the difference will not reverse in the foreseeable future. Deferred tax assets are recognised to the extent it is probable that taxable profits will be available against which the deductible temporary differences can be utilised, and are reviewed at the end of each reporting period and reduced to the extent that Deferred tax assets and liabilities are not recognised in respect of temporary differences that arise on initial recognition of assets and liabilities acquired other than in a business combination. Deferred tax is not discounted. When the acquisition of an asset qualifies to be accounted for as a business combination, deferred tax is generally required In an ‘asset acquisition’, where the buyer acquires the trade and assets of a business, there is often a tax deduction available for the amortisation of the identifiable intangible assets and sometimes for the goodwill. In this situation, deferred tax is recognised on the difference between the tax base and the book base of the assets. In a ‘share acquisition’, where the buyer acquires the share capital of a legal entity that continues to own the trade and assets, tax deductions for amortisation are usually not available. Intangibles which do not qualify for tax deductions therefore give rise to a deferred tax liability. However, deferred tax liabilities are not recognised on temporary differences that arise from goodwill where that is not deductible for tax purposes. Other areas of accounting judgement The Group is subject to tax in numerous jurisdictions, giving rise to complex tax issues. As a multinational enterprise, the Group’s tax returns in the countries in which it operates are subject to tax authority audits as a matter of routine. While the Group is confident that tax returns are appropriately prepared and filed, amounts are provided in respect of uncertain tax positions that reflect the risk with respect to tax matters under active discussion with tax authorities, or which are otherwise considered to involve uncertainty. The valuation of provisions required in relation to uncertain tax positions involves estimation. Provisions against uncertain tax positions are measured using one of the following methods, depending on which of the methods management expects will better predict the amount it will pay over to the tax authority: ■ The Single Best Estimate – where there is a single outcome that is more likely than not to occur. This will happen, for example, where the tax outcome is binary (such as whether an entity can deduct an item of expenditure) or the range of possible outcomes is narrow or concentrated on a single value. The most likely outcome may be that no tax is expected to be payable, in which case the provision is nil; or ■ A Probability-Weighted Expected Value – where, on the balance of probabilities, something will be paid to the tax authority but the possible outcomes are widely dispersed with low individual probabilities (i.e. there is no single outcome more likely than not to occur). In this case, the provision is the sum of the probability-weighted amounts in the range. ​ 9 Taxation (continued) ​ In assessing provisions against uncertain tax positions, management uses in-house tax experts, professional firms and previous experience to inform the evaluation of risk. However, it remains possible that uncertainties will ultimately be resolved at amounts greater or smaller than the liabilities recorded. In particular, although the Group reports cross-border transactions undertaken between Group subsidiaries on an arm’s-length basis in tax returns in accordance with OECD guidelines, transfer pricing relies on the exercise of judgement and it is frequently possible for there to be a range of legitimate and reasonable views. This means that it is impossible to be certain that the returns basis will be sustained on examination. Discussions with tax authorities relating to cross-border transactions and other matters are ongoing in a number of our major trading jurisdictions. Although the timing and amount of final resolution of these uncertain tax positions cannot be reliably predicted, no significant impact on the results of the Group is expected in the next year or foreseeable future. Estimation of income taxes also includes assessments of the recoverability of deferred tax assets, consistent with the Group’s forecasts and annual strategy plan used in the preparation of the annual report and accounts. Deferred tax assets are only recognised to the extent that they are considered recoverable based on existing tax laws and forecasts of future taxable profits against which the underlying tax deductions can be utilised. The recoverability of these assets is reassessed at the end of each reporting period, and changes in recognition of deferred tax assets will affect the tax liability in the period of that reassessment. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm Current tax Current year ​ (564) (652) (661) Prior years ​ 30 77 54 Total current tax charge ​ (534) (575) (607) Deferred tax ​ 53 68 (6) Tax expense ​ (481) (507) (613) ​ The UK current tax charge was £187m (2023: £157m; 2022: £102m). Cash tax paid (net) in the year was £662m (2023: £619m; There are a number of reasons why the cash tax payments in a particular year will be different from the tax expense in the accounts: ■ Tax payments relating to a particular year’s profits are typically due partly in the year and partly in the following year. ■ Tax expense includes deferred tax, an accounting adjustment where an item is included in the income statement in one year but is taxed in another year. The acquisition of intangible assets often results in deferred tax liabilities, the unwind of which does not result in tax payments. ■ Current tax expense is the best estimate at the end of the period of cash tax expected to be paid. To the extent the final tax liability is different, any cash tax impact will occur in a later period. ■ Some of the benefits of tax deductions related to share based payments, pensions and hedging are credited to equity or other comprehensive income rather than to tax expense. Set out below is a reconciliation of the difference between tax expense for the period and the theoretical expense calculated by multiplying accounting profit by the applicable tax rate. The Group believes the most meaningful applicable rate is that obtained by multiplying the accounting profits and losses of all consolidated entities by the applicable domestic rate in each of those entities’ jurisdictions. The net tax expense charged on profit before tax differs from the theoretical amount that would arise using the weighted average of tax rates applicable to accounting profits and losses of the consolidated entities, as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ 2024 ​ GBPm % ​ GBPm % ​ GBPm % Profit before tax 2,113 ​ ​ ​ 2,295 ​ ​ ​ 2,557 ​ ​ ​ Tax at average applicable rates (498) 23.6 % ​ (571) 24.9 % ​ (647) 25.3 % Tax effect of share of results of joint ventures and associates 3 (0.1) % ​ 8 (0.3) % ​ 9 (0.4) % Income not taxable and expenses not deductible 21 (1.0) % ​ 20 (0.9) % ​ 16 (0.6) % Non-deductible costs of share based remuneration (1) 0.0 % ​ (1) 0.0 % ​ (2) 0.1 % Non-deductible disposal-related gains and losses (2) 0.1 % ​ (22) 1.0 % ​ (7) 0.3 % Deferred tax assets of the period not recognised (17) 0.8 % ​ (3) 0.1 % ​ (18) 0.7 % Change in recognition and measurement of deferred tax 5 (0.2) % ​ 4 (0.2) % ​ 13 (0.5) % Movements in provisions and prior year items 8 (0.4) % ​ 58 (2.5) % ​ 23 (0.9) % Tax expense (481) 22.8 % ​ (507) 22.1 % ​ (613) 24.0 % ​ 9 Taxation (continued) The weighted average applicable tax rate for the year was 25.3% (2023: 24.9%; 2022: 23.6%), reflecting the applicable rates in the countries where the Group operates. The Group’s future tax charge will be sensitive to the geographic mix of profits and losses and the tax rates and laws in force in the jurisdictions in which the Group operates. The BEPS Pillar Two Minimum Tax legislation was enacted in July 2023 in the UK with effect from 2024. The Group has applied the temporary exception under IAS 12 in relation to the accounting for deferred taxes arising from the implementation of the Pillar Two rules. The new rules do not have a significant impact on the tax charge for the Group. In the US, the Inflation Reduction Act enacted in August 2022 introduced a corporate alternative minimum tax. This does not have any significant impact on the Group. With the advent of the new administration the Group will continue to monitor US developments . In the UK, an increase in the corporation tax rate from 19% to 25% from April 2023 was enacted in 2021. In the Netherlands, an increase in the corporation tax rate from 25% to 25.8% from 2022 and changes to loss recognition rules were also enacted in 2021. In total, the deferred tax effect of changes in tax rates for the year was a tax credit of nil (2023: nil ; 2022: £3 m) in the income statement. The effective tax rate of 24.0% (2023: 22.1%; 2022: 22.8%) was lower than the weighted average applicable rate of 25.3%. Income not taxable and expenses not deductible include a credit of £21m (2023: £21m; 2022: £13m) relating to research and development. In 2023, there were tax credits arising from the substantial resolution of prior year tax matters. The following tax has been recognised in other comprehensive income or directly in equity during the year: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm Tax on items that will not be reclassified to profit or loss Tax on actuarial movements on defined benefit pension schemes ​ (43) 19 (11) ​ ​ ​ ​ ​ ​ ​ Tax on items that may be reclassified to profit or loss ​ Tax on fair value movements on cash flow hedges ​ 8 (12) 3 ​ ​ ​ ​ ​ ​ ​ Net tax (charge)/credit recognised in other comprehensive income ​ (35) 7 (8) Tax credit on share based remuneration recognised directly in equity ​ - 24 20 ​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Current tax assets 6 42 Current tax liabilities (163) (119) Total (157) (77) ​ Current tax assets and liabilities are net amounts in countries where there is a legally enforceable right to offset assets and liabilities on a net basis. The Group maintained provisions for uncertain tax positions. The total carrying amount of these provisions of £168m (2023: £173m) is comprised of a number of individually immaterial amounts. It is not expected that any resolution of the matters to which the provisions relate, or changes in assumptions relating to the provisions, will have a material impact on the Group’s financial results in the next year. ​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Deferred tax assets 128 84 Deferred tax liabilities (473) (473) Total (345) (389) ​ ​ 9 Taxation (continued) Movements in deferred tax liabilities and assets (before taking into consideration the offsetting of balances within the same jurisdiction) are summarised as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities ​ Deferred tax assets ​ ​ ​ Acquired intangible assets GBPm ​ Other temporary differences GBPm Acquired intangible assets GBPm ​ Losses and other tax attributes GBPm ​ Pension balances GBPm ​ Other temporary differences GBPm ​ Total GBPm Deferred tax (liability)/asset at 1 January 2023 (735) (231) 132 118 49 223 (444) Credit/(charge) to profit 63 40 (31) (26) (1) 23 68 (Charge)/credit to equity/other comprehensive income - (2) - - (1) 11 8 Acquisitions (16) 1 - 9 - - (6) Disposals and other ​ 3 ​ - ​ - ​ - ​ - ​ - ​ 3 Exchange translation differences 33 10 (2) (5) - (10) 26 Deferred tax (liability)/asset at 1 January 2024 (652) (182) 99 96 47 247 (345) Credit/(charge) to profit 52 14 (31) (31) (10) - (6) (Charge)/credit to equity/other comprehensive income - (14) - - 6 1 (7) Acquisitions (16) - - 1 - - (15) Disposals and other ​ - ​ - ​ - ​ - ​ - ​ (2) ​ (2) Exchange translation differences (10) (1) (2) (2) - 1 (14) Deferred tax (liability)/asset at 31 December 2024 (626) (183) 66 64 43 247 (389) ​ The closing deferred tax liability balance of other temporary differences includes those relating to capitalised development costs of As a result of exemptions on dividends from subsidiaries and capital gains on disposal there are no significant taxable temporary differences associated with investments in subsidiaries, branches, associates and interests in joint arrangements. Deferred tax assets have been recognised for losses and other tax attributes in countries including the US and the Netherlands, Deferred tax assets in respect of tax losses and other deductible temporary differences have only been recognised to the extent that it is more likely than not that sufficient taxable profits will be available to allow the asset to be recovered. Losses and other tax attributes for which no deferred tax asset was recognised: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2024 ​ ​ GBPm Gross amount GBPm Tax effected ​ GBPm Gross amount GBPm Tax effected Trading losses and temporary differences expiring ​ ​ ​ ​ ​ Within 10 years 93 26 ​ 55 15 More than 10 years 14 4 ​ 13 3 Available indefinitely 246 66 ​ 185 51 Total 353 96 ​ 253 69 State and local tax losses expiring ​ ​ ​ ​ ​ Within 10 years 21 1 ​ 18 1 More than 10 years 63 4 ​ 57 3 Available indefinitely - - ​ - - Total 84 5 ​ 75 4 Capital losses expiring ​ ​ ​ ​ ​ Within 10 years - - ​ - - More than 10 years - - ​ - - Available indefinitely 27 7 ​ 140 31 Total 27 7 ​ 140 31 ​

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2024
Earnings per share
Earnings per share	10 Earnings per share ​ ​ ​ ​ Accounting policy Earnings per share (EPS) is calculated by taking the reported net profit attributable to shareholders and dividing this by the total weighted average number of shares. The diluted figures are calculated after taking account of potential additional ordinary shares arising from share options and conditional shares. The dilutive impact is calculated as the weighted average of all potentially dilutive shares ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ EARNINGS PER SHARE – FOR THE YEAR ENDED 31 DECEMBER 2022 2023 2024 ​ ​ Net profit attributable to shareholders GBPm ​ Weighted average number of shares (millions) ​ EPS (pence) ​ ​ Net profit attributable to shareholders GBPm ​ Weighted average number of shares (millions) ​ EPS (pence) ​ ​ Net profit attributable to shareholders GBPm ​ Weighted average number of shares (millions) ​ EPS (pence) ​ Basic earnings per share 1,634 1,918.5 85.2p ​ ​ 1,781 1,891.8 94.1p ​ ​ 1,934 1,865.9 103.6p ​ Diluted earnings per share 1,634 1,929.3 84.7p ​ ​ 1,781 1,902.8 93.6p ​ ​ 1,934 1,876.7 103.1p ​ ​

Statement of cash flows

Statement of cash flows	12 Months Ended
	Dec. 31, 2024
Statement of cash flow
Statement of cash flows	11 Statement of cash flows ​ ​ ​ Accounting policy Cash and cash equivalents comprise cash balances, call deposits and other short-term highly liquid investments and are held in the statement of financial position at fair value. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RECONCILIATION OF OPERATING PROFIT TO CASH GENERATED FROM OPERATIONS ​ ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm Operating profit ​ 2,323 2,682 2,861 Share of results of joint ventures and associates ​ (19) (46) (43) Amortisation of acquired intangible assets ​ 294 279 258 Amortisation of internally developed intangible assets ​ 309 330 364 Amortisation of pre-publication costs ​ ​ ​ 72 ​ 76 ​ 77 Depreciation of property, plant and equipment ​ 47 43 34 Depreciation of right-of-use assets ​ 63 65 50 Share based remuneration ​ 46 56 66 Total non-cash items ​ 831 849 849 Increase in inventories and pre-publication costs ​ (103) (90) (83) Increase in receivables ​ (251) (24) (173) Increase/(decrease) in payables ​ 280 (1) 110 Increase in working capital ​ (74) (115) (146) Cash generated from operations ​ 3,061 3,370 3,521 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CASH FLOW ON ACQUISITIONS ​ Note ​ 2022 GBPm 2023 GBPm 2024 GBPm Purchase of businesses 12 ​ (373) (108) (165) Deferred payments relating to prior year acquisitions ​ ​ (21) (16) (5) Total ​ ​ (394) (124) (170) ​ ​ 11 Statement of cash flows (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RECONCILIATION OF NET DEBT ​ Cash and cash equivalents GBPm ​ Debt GBPm ​ Related derivative financial instruments GBPm ​ Finance Lease receivable GBPm ​ Total GBPm At 1 January 2023 334 (6,730) (213) 5 (6,604) Decrease in cash and cash equivalents (169) - - - (169) Increase in short-term bank loans, overdrafts and commercial paper - (84) - - (84) Issuance of term debt - (651) - - (651) Repayment of term debt - 847 - - 847 Repayment of leases - 72 - (2) 70 Change in net debt resulting from cash flows (169) 184 - (2) ​ 13 Borrowings in disposed businesses ​ - ​ 1 ​ - ​ - ​ 1 Inception of leases - (38) - 1 (37) Fair value and other adjustments to debt and related derivatives - (100) 97 - (3) Exchange translation differences (10) 186 8 - 184 At 1 January 2024 155 (6,497) (108) 4 (6,446) Decrease in cash and cash equivalents (32) - - - (32) Increase in short-term bank loans, overdrafts and commercial paper - (461) - - (461) Issuance of term debt - (711) - - (711) Repayment of term debt - 1,017 - - 1,017 Repayment of leases - 63 - (2) 61 Change in net debt resulting from cash flows (32) (92) - (2) (126) Borrowings in disposed businesses ​ - ​ 8 ​ - ​ - ​ 8 Remeasurement and derecognition of leases - (4) - - (4) Inception of leases - (32) - - (32) Fair value and other adjustments to debt and related derivatives - 19 (28) - (9) Exchange translation differences (4) 54 (4) - 46 At 31 December 2024 119 (6,544) (140) 2 (6,563) ​ Net debt comprises cash and cash equivalents, loan capital, lease liabilities and receivables, promissory notes, bank and other loans and derivative financial instruments that are used to hedge certain borrowings. The Group monitors net debt as part of capital and liquidity management.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2024
Acquisitions
Acquisitions	12 Acquisitions ​ Accounting policy Goodwill, being the excess of the consideration over the net tangible and intangible assets acquired, represents benefits which do not qualify for recognition as intangible assets, including: the ability of a business to generate higher returns than individual assets; skilled workforces; and acquisition synergies that are specific to the Group. In addition, goodwill arises on the recognition of deferred tax liabilities in respect of intangible assets for which amortisation does not qualify for tax deductions. ​ During the year, a number of acquisitions were made. The net assets of the businesses acquired are incorporated at their fair value to the Group. The fair values of the consideration given and of the assets and liabilities acquired are summarised below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value 2022 GBPm ​ Fair value 2023 GBPm ​ Fair value 2024 GBPm Goodwill ​ 269 68 146 Intangible assets ​ 125 ​ 64 ​ 72 Property, plant and equipment ​ 1 1 - Other non-current assets ​ 3 - - Current assets ​ 8 3 6 Current liabilities ​ (21) (10) (14) Borrowings ​ (3) - - Deferred tax ​ (13) (6) (15) Net assets acquired ​ 369 120 195 Consideration (after taking account of £7 m net cash acquired (2022: £6 m; 2023: £4 m)) ​ 369 120 195 Change in consideration deferred to future years and changes in contingent consideration relating to prior year acquisitions ​ 4 (12) (30) Net cash flow ​ 373 108 165 ​ During 2024, RELX completed several acquisitions for total consideration of £195m (2023: £130m), or £188m (2023: £126m) adjusted for cash acquired. Total cash spent on acquisitions was £170m (2023: £124m) including deferred consideration of £5m (2023: £16m) on past acquisitions. The businesses acquired in 2024 contributed £11m to revenue, increased adjusted operating profit by £5m, decreased net profit

Equity dividends

Equity dividends	12 Months Ended
	Dec. 31, 2024
Equity dividends
Equity dividends	13 Equity dividends ​ ​ ​ ​ ​ ​ ​ ​ ORDINARY DIVIDENDS PAID IN THE YEAR ​ 2022 GBPm ​ 2023 GBPm ​ 2024 GBPm RELX PLC 983 1,059 1,121 ​ Ordinary dividends declared and paid in the year ended 31 December 2024, in amounts per ordinary share, comprise: a final dividend for 2023 of 41.8p (2023: final dividend for 2022 of 38.9p; 2022: final dividend for 2021 of 35.5p) and a 2024 interim dividend for 2024 of 18.2p (2023: 17.0p; 2022: 15.7p), giving a total of 60.0p (2023: 55.9p; 2022: 51.2p). The Directors of RELX PLC have proposed a final dividend for 2024 of 44.8p per ordinary share (2023: 41.8p; 2022: 38.9p), giving a total for the financial year of 63.0p per ordinary share (2023: 58.8p; 2022: 54.6p). The total cost of funding the proposed final dividend is expected to be £831m, for which no liability has been recognised at the statement of financial position date. The Employee Benefit Trust has currently waived the right to receive dividends on RELX PLC shares. This waiver has been applied to dividends paid in 2022, 2023 and 2024.

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2024
Intangible assets
Intangible assets	14 Intangible assets ​ Accounting policy On acquisition of a subsidiary or business, the purchase consideration is allocated between the tangible and intangible assets other than goodwill on a fair value basis, with any excess purchase consideration representing goodwill. Goodwill is carried at fair value as at the date of acquisition less impairment charges. Acquired intangible assets are carried at their fair value as at the date of acquisition less accumulated amortisation (including impairment). On disposal, the amount of goodwill attributable to a subsidiary or business is included in the calculation of profit or loss recognised in the income statement. Management judgement is required to identify intangible assets acquired as part of business combinations which comprise: market-related assets (e.g. trademarks, imprints, brands); customer-related assets (e.g. subscription bases, customer lists, customer relationships); editorial content; software and systems (e.g. application infrastructure, product delivery platforms, in-process research and development); and other intangible assets mainly comprising contract and rights-related assets. The valuation of acquired intangible assets represents the estimated economic value in use, using standard valuation methodologies, including as appropriate, discounted cash flow and comparable market transactions. Judgements involved in estimating valuation of the intangible assets include growth in cash flows over the forecast period, the long-term growth rate assumed thereafter and the discount rate applied to the forecast cash flows. The selection of appropriate amortisation periods for acquired intangible assets requires management to assess the longevity of brands and imprints, the strength and stability of customer relationships, the market positions of the acquired intangible assets and the technological and competitive risks that they face. Certain intangible assets in relation to acquired science and medical publishing businesses have been determined to have indefinite lives. The longevity of these assets is evidenced by their long-established and well regarded journal titles, and their characteristically stable market positions. Journal titles determined to have indefinite lives are not amortised and are subject to impairment review at least annually, including a review of events and circumstances to ensure that they continue to support an indefinite useful life. Intangible assets, other than journal titles determined to have indefinite lives, are amortised on a straight-line basis over their estimated useful lives. The estimated useful lives of intangible assets with finite lives are: ■ Market-related assets – 1 to 40 years ■ Customer-related assets – 1 to 20 years ■ Editorial content – 1 to 40 years ■ Software and systems – 1 to 10 years ■ Other – 3 to 20 years Internally developed intangible assets (development spend) typically comprise software and systems development where an identifiable asset is created that is probable to generate future economic benefits and are carried at cost less accumulated amortisation. Internally developed intangible assets are amortised on a straight-line basis over their estimated useful lives of three to 10 years . Impairment reviews are carried out at where indicators of impairment are identified. Impairment reviews Goodwill and acquired intangible assets with an indefinite life are allocated to cash generating units (CGUs) and tested for impairment at least annually or when there is an indicator that the asset may be impaired. An impairment loss is recognised in the income statement in administration and other expenses to the extent the carrying value of goodwill exceeds its recoverable amount and not subsequently reversed. The recoverable amount is the higher of fair value less costs to sell and value in use. The carrying amounts of all other intangible assets are tested for impairment where there are indications of possible impairment. An impairment review involves a comparison of the carrying value of the asset with estimated values in use based on management’s cash flow projections, approved by the Board. Key areas of judgement in estimating the values in use of businesses are the growth in cash flows over a forecast period of up to five years , the long-term growth rate assumed thereafter and the discount rate applied to the forecast cash flows. These calculations require the use of estimates in respect of forecast cash flows and discount rates. Where the asset does not generate cash flows that are independent from other assets, value in use estimates are made based on the cash flows of the CGU to which the asset belongs. As permitted by IAS 36, the most recent detailed calculation of the recoverable amount of a CGU (to which goodwill and acquired intangibles with indefinite lives are allocated) is used in the impairment test for that CGU in the current period where the required criteria have been met. The three required criteria to be met are: there have been no significant changes in the assets and liabilities; the most recent recoverable amount exceeds the carrying amount by a substantial margin; and the likelihood that the recoverable amount would be less than the carrying amount is remote. Critical judgement Development spend Development spend encompasses investment in new products and other initiatives, ranging from the building of online delivery platforms, to launch costs of new services, to building new infrastructure and applications. Launch costs and other ongoing operating expenses of new products and services are expensed as incurred. The costs of building product applications, platforms and infrastructure are capitalised as internally generated intangible assets, where the investment they represent has demonstrable value and the technical and commercial feasibility is assured. Costs eligible for capitalisation must be incremental, clearly identified and directly attributable to a particular project. The resulting assets are amortised over their estimated useful lives. Judgement is required in the assessment of the potential value of a development project, the identification ​ 14 Intangible assets (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill GBPm ​ Market related GBPm ​ Customer related GBPm ​ Editorial content GBPm ​ Software and technology GBPm ​ Other GBPm ​ Total acquired intangible assets GBPm ​ Total internally developed intangible assets GBPm ​ Total intangible assets excluding goodwill GBPm COST ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at 1 January 2023 8,388 ​ 2,699 2,076 690 ​ 845 ​ 2,518 8,828 4,120 12,948 Acquisitions 68 ​ 1 ​ 28 ​ 1 ​ 31 ​ 3 64 - 64 Additions - ​ - ​ - ​ - ​ - ​ - - 447 447 Disposals and other ¹ (51) ​ (28) ​ (29) ​ (11) ​ (4) ​ (9) (81) (59) (140) Exchange translation differences (382) ​ (132) ​ (96) ​ (22) ​ (37) ​ (86) (373) (165) (538) At 1 January 2024 8,023 ​ 2,540 1,979 658 ​ 835 ​ 2,426 8,438 4,343 12,781 Acquisitions 146 ​ 10 ​ 14 ​ 10 ​ 38 ​ - 72 - 72 Additions - ​ - ​ - ​ - ​ - ​ - - 464 464 Disposals and other ² (36) ​ (71) ​ (8) ​ (6) ​ (23) ​ (110) (218) (87) (305) Exchange translation differences 83 ​ 36 ​ 25 ​ 4 ​ 5 ​ 7 77 2 79 At 31 December 2024 8,216 2,515 2,010 666 855 2,323 8,369 4,722 13,091 ​ ​ ​ ACCUMULATED AMORTISATION ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at 1 January 2023 - 1,718 ​ 1,332 ​ 617 ​ 572 2,500 6,739 2,685 9,424 Charge for the year - 116 ​ 73 ​ 15 ​ 63 ​ 12 279 330 609 Disposals and other ¹ - (16) ​ (19) ​ (5) ​ (8) ​ (9) (57) (41) (98) Exchange translation differences - (87) ​ (63) ​ (20) ​ (27) ​ (87) (284) (108) (392) At 1 January 2024 - 1,731 ​ 1,323 ​ 607 ​ 600 2,416 6,677 2,866 9,543 Charge for the year - ​ 111 ​ 71 ​ 13 ​ 62 ​ 1 258 364 622 Disposals and other ² - ​ (69) ​ (8) ​ (5) ​ (23) ​ (110) (215) (71) (286) Exchange translation differences - ​ 23 ​ 15 ​ 3 ​ 6 ​ 7 54 (6) 48 At 31 December 2024 - ​ 1,796 ​ 1,401 ​ 618 ​ 645 ​ 2,314 6,774 3,153 9,927 ​ ​ ​ NET BOOK AMOUNT ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At 31 December 2023 8,023 809 656 51 235 10 1,761 1,477 3,238 At 31 December 2024 8,216 719 609 48 210 9 1,595 1,569 3,164 (1) Includes goodwill of £51 m (before an impairment of £42 m) and intangible assets of £31 m classified as held for sale within Risk. (2) Includes goodwill impairments of ​ The Legal business area has £645m (2023: £636m) of capitalised development costs associated with platforms and infrastructure, with a remaining amortisation period of up to ten Included in market-related intangible assets are £121m (2023: £119m) of journal titles relating to Scientific, Technical & Medical determined to have indefinite lives based on an assessment of their historical longevity and stable market positions. Impairment review There were no charges for impairment of goodwill or indefinite lived intangible assets in 2024 (2023: nil) identified during the annual impairment review. As permitted by IAS 36, the detailed calculations including key assumptions used to determine the recoverable amounts and sensitivity analysis performed in 2023 were used as a basis for the 2024 impairment tests as the criteria of IAS 36 were satisfied. For all CGUs tested: there have been no significant changes in the assets and liabilities in 2024 included in the CGUs compared to 2023; the headroom was substantial in 2023; and the likelihood that the recoverable amount would be less than the carrying amount in 2024 is remote. Goodwill and indefinite lived intangible assets are compiled and assessed among groups of CGUs, which represent the lowest level at which goodwill is monitored by management. Typically, acquisitions are integrated into existing business areas, and the goodwill arising is allocated to the groups of CGUs that are expected to benefit from the synergies of the acquisition. As the business areas have become increasingly integrated and globalised, the current CGU allocation reflects the global leverage of assets, skills, knowledge and technology platforms, and the monitoring of goodwill by management. ​ ​ ​ ​ ​ ​ GOODWILL 2023 GBPm 2024 GBPm Risk 3,950 4,004 Scientific, Technical & Medical 1,923 1,948 Legal 1,524 1,640 Exhibitions 626 624 Total 8,023 8,216 ​ 14 Intangible assets (continued) The key assumptions used for each group of CGUs are disclosed below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ KEY ASSUMPTIONS ​ 2023 ​ 2024 ​ ​ Pre-tax discount rate ​ Nominal long-term market growth rate ​ Pre-tax discount rate ​ Nominal long-term market growth rate ​ Risk 11.3% ​ ​ 4% ​ 11.3% ​ ​ 4% ​ Scientific, Technical & Medical 10.6% ​ ​ 3% ​ 10.6% ​ ​ 3% ​ Legal 10.9% ​ ​ 4% ​ 10.9% ​ ​ 4% ​ Exhibitions 12.3% ​ ​ 4% ​ 12.3% ​ ​ 4% ​ ​ The pre–tax discount rates used are based on the Group’s weighted average cost of capital, adjusted to reflect a risk premium specific to each business. A post-tax discount rate was applied to post-tax cash flows. The equivalent pre-tax discount rate has been estimated by grossing up the post-tax rate. The Group’s weighted average cost of capital is derived from a risk free rate, a market risk premium, a risk adjustment (beta) and a cost of debt adjustment. The discount rates and the cash flow projections are in nominal terms and therefore, take into account the impact of inflation. As the IAS 36 criteria are satisfied for all CGUs, the 2023 recoverable amount calculation (including the discount rate and growth rate assumptions) have been used in the 2024 impairment testing calculations. The key assumptions within the forecast growth in the cash flows over a forecast period of up to five years are revenue growth, operating margin and cash conversion. Revenue growth and operating profit margin forecasts for each CGU are derived from past results adjusted by management based on salient current and future considerations. Cash conversion rates for each CGU are based on historical cash conversion rates. Nominal long-term market growth rates, which are applied after the forecast period of up to five years, are broadly in line with the long-term average growth prospects for the sectors and territories in which the businesses operate. A sensitivity analysis has been performed based on changes in key assumptions considered to be reasonably possible by management: an increase in the discount rate of 1.5%; a decrease in the compound annual growth rate for cash flow in the five-year forecast period of 2%; a decrease in the nominal long-term market growth rates of 1%; and a combined increase in discount rate of 1% and a decrease in the nominal long-term market growth rates of 1%. These sensitivity analyses show that no impairment charges would result from these scenarios.

Investments

Investments	12 Months Ended
	Dec. 31, 2024
Investments
Investments	15 Investments ​ Accounting policy Investments, other than investments in joint arrangements and associates, are stated in the statement of financial position at fair value. Changes in the fair value of investments held as part of the venture capital portfolio are reported in disposals and other non-operating items in the income statement. All items recognised in the income statement relating to investments, other than investments in joint arrangements and associates, are reported as disposals and other non-operating items. Venture capital investments represent interests in listed and unlisted securities. The fair value of listed securities is based on quoted prices in active markets. The fair value of unlisted securities is based on management’s estimate of fair value based on standard valuation techniques, including market comparisons and discounts of future cash flows, having regard to maximising the use of observable inputs and adjusting for risk. Advice from valuation experts is used as appropriate. Refer to note 17 for further information. All joint arrangements are classified as joint ventures because the Group shares joint control and has rights to the net assets of the arrangements. Investments in joint ventures and associates are accounted for under the equity method and stated in the statement of financial position at cost as adjusted for post-acquisition changes in the Group’s share of net assets, less any impairment in value. ​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Investments in joint ventures and associates 178 169 Venture capital and other investments 97 92 Total 275 261 ​ ​ ​ 15 Investments (continued) An analysis of changes in the carrying value of investments in joint ventures and associates is set out below: ​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm At start of year 159 178 Share of results of joint ventures and associates 46 43 Dividends received from joint ventures and associates (21) (37) Exchange translation differences (6) (15) At end of year 178 169 ​ Summarised aggregate information in respect of the Group’s share of joint ventures and associates is set out below: ​ ​ ​ ​ ​ ​ ​ RELX’s share ​ ​ 2023 GBPm ​ 2024 GBPm Revenue 123 121 Net profit for the year 46 43 ​ ​ ​ ​ ​ Total assets 200 198 Total liabilities (61) (97) Net assets 139 101 Goodwill 39 68 Total 178 169 ​ The Group’s consolidated other comprehensive income includes no income or losses relating to joint ventures and associates in 2024 and 2023

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Dec. 31, 2024
Property, plant and equipment.
Property, plant and equipment	16 Property, plant and equipment ​ Accounting policy Property, plant and equipment are stated at cost less accumulated depreciation. No depreciation is provided on freehold land. Freehold buildings and long leaseholds ■ land and buildings: land – not depreciated; leasehold improvements – shorter of life of lease and 10 years ■ fixtures and equipment: plant – 3 to 20 years; office furniture, fixtures and fittings – 5 to 10 years; computer systems, communication networks and equipment – 3 to 7 years ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2024 ​ Land and buildings GBPm Fixtures and equipment GBPm Total GBPm Land and buildings GBPm Fixtures and equipment GBPm Total GBPm Cost At start of year 166 ​ 452 618 134 ​ 373 507 Acquisitions - 1 1 - - - Capital expenditure 5 25 30 1 19 20 Disposals (30) (88) (118) (25) (104) (129) Exchange translation differences (7) (17) (24) - - - At end of year 134 373 507 110 288 398 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depreciation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At start of year ​ 115 377 492 92 316 408 Charge for the year 5 38 43 5 29 34 Disposals (23) (85) (108) (23) (103) (126) Exchange translation differences (5) (14) (19) - - - At end of year 92 316 408 74 242 316 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net book amount 42 57 99 36 46 82 ​ Included in land and buildings is freehold land of £7m (2023: £8m). Amounts relating to right-of-use assets under IFRS 16 can be found in note 22.

Financial instruments

Financial instruments	12 Months Ended
	Dec. 31, 2024
Financial instruments
Financial instruments	17 Financial instruments ​ Accounting policy Financial instruments comprise investments (other than investments in joint ventures or associates), trade receivables, Investments are described in note 15. The fair value of such investments is based on standard valuation techniques, including market comparisons and discounts of future cash flows, having regard to maximising the use of observable inputs and adjusting for risk. These investments are typically classified as either Level 1 or 2 in the IFRS 13 fair value hierarchy. Trade receivables are carried in the statement of financial position at invoiced value less allowance for expected credit losses. Expected credit losses are based on the ageing of trade receivables, experience and circumstance. Borrowings and payables are recorded initially at fair value and subsequently carried at amortised cost (other than fixed rate borrowings in designated hedging relationships for which the carrying amount of the hedged portion of the borrowings is subsequently adjusted for the gain or loss attributable to the hedged risk). Derivative financial instruments are used to hedge interest rate and foreign exchange risks. Where an effective hedge is in place against changes in the fair value of fixed rate borrowings, the hedged borrowings are adjusted for changes in fair value attributable to the risk being hedged with a corresponding income or expense included in the income statement within finance costs. The offsetting gains or losses from remeasuring the fair value of the related derivatives are also recognised in the income statement within finance costs. When the related derivative expires, is sold or terminated, or no longer qualifies for hedge accounting, the cumulative change in fair value of the hedged borrowing is amortised in the income statement over the period to maturity of the borrowing using the effective interest method. Changes in the fair value of derivative financial instruments that are designated and effective as hedges of future cash flows are recognised (net of tax) in other comprehensive income and accumulated in the hedge reserve. The fair value amounts relating to foreign currency basis spreads are recorded in a separate component of equity in the cost of hedging reserve. Cash flow hedge accounting is discontinued when a hedging instrument expires or is sold, terminated or exercised, or no longer qualifies for hedge accounting. At that time, any cumulative gain or loss on the hedging instrument recognised in other comprehensive income is either retained in the hedge reserve until the firm commitment or forecasted transaction occurs, or, where a hedged transaction is no longer expected to occur, is immediately credited or expensed in the income statement. Derivative financial instruments that are not designated as hedging instruments are recorded in the statement of financial position at fair value, with changes in fair value recognised in the income statement. The fair values of derivative financial instruments represent the replacement costs calculated using observable market rates of interest and exchange. These instruments are accordingly classified as Level 2 in the IFRS 13 fair value hierarchy. The fair value of long-term borrowings is based on quoted prices in active markets. These instruments are accordingly classified as Level 1 in the IFRS 13 fair value hierarchy. ​ The main financial risks faced by the Group are liquidity risk, market risk – comprising interest rate risk and foreign exchange risk – and credit risk. Financial instruments are used to finance the Group’s businesses and to manage interest rate and foreign exchange risks. The Group’s businesses do not enter into speculative derivative transactions. Details of financial instruments subject to liquidity, market and credit risks are described below. ​ 17 Financial instruments (continued) Liquidity risk The Group maintains a range of borrowing facilities and debt programmes to fund its requirements at competitive rates. The balance of long-term debt, short-term debt and committed bank facilities is managed to provide security of funding, taking into account the cash generation cycle of the business and the uncertain size and timing of acquisition spend. To accommodate the significant free cash flow generated by the Group and to capitalise on an inexpensive source of funding, a meaningful portion of the overall debt portfolio is typically kept short term as long as there exists acceptable liquidity in the commercial paper markets and sufficient capacity under committed credit lines. The Group’s treasury policies ensure adequate liquidity by requiring that (a) no more than $2bn of term debt matures in any 12-month period, (b) the sum of term debt maturing over the ensuing 12 months plus short-term borrowings is less than the sum of available cash plus committed facilities and (c) minimum levels of borrowing with maturities over three and five years are maintained. The treasury policies ensure debt efficiency by (a) targeting certain levels of short-term borrowings across a given year, (b) maintaining a weighted average maturity of the gross debt portfolio of approximately five years and (c) minimising surplus cash balances. From time to time, based on cash flow and market conditions, the Group may redeem term debt early or repurchase outstanding debt in the open market. Debt is issued to meet the funding requirements of various jurisdictions and in the currencies that are needed. It is recognised ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ AT 31 DECEMBER 2023 ​ ​ ​ Contractual cash flow (including interest) ​ ​ Carrying ​ Within ​ ​ ​ ​ ​ ​ ​ ​ ​ More than ​ ​ ​ ​ amount ​ 1 year ​ 1-2 years ​ 2-3 years ​ 3-4 years ​ 4-5 years ​ 5 years ​ Total ​ GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm Borrowings ​ ​ ​ ​ ​ ​ ​ ​ Fixed rate borrowings (6,136) ​ (1,174) ​ (762) ​ (764) ​ (538) ​ (792) ​ (3,037) (7,067) Floating rate borrowings (220) ​ (220) ​ - ​ - ​ - ​ - ​ - (220) Lease liabilities (141) ​ (66) ​ (45) ​ (17) ​ (12) ​ (6) ​ (28) (174) ​ ​ (6,497) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative financial liabilities Cash inflows ​ ​ ​ 621 ​ 92 ​ 14 ​ 3 ​ - ​ - ​ 730 Cash outflows ​ ​ ​ (632) ​ (94) ​ (14) ​ (3) ​ - ​ - ​ (743) Forward foreign exchange contracts (16) (11) (2) ​ - ​ - ​ - ​ - (13) Interest rate derivatives (104) (35) ​ (17) ​ (13) ​ (13) ​ (14) ​ (27) (119) Cross-currency interest rate swaps (27) (34) ​ (539) ​ - ​ - ​ - ​ - (573) ​ ​ (147) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative financial assets Cash inflows ​ ​ ​ 1,149 ​ 364 ​ 199 ​ 30 ​ - ​ - ​ 1,742 Cash outflows ​ ​ ​ (1,111) ​ (339) ​ (186) ​ (29) ​ - ​ - ​ (1,665) Forward foreign exchange contracts 62 38 25 13 1 - - 77 Interest rate derivatives 19 - ​ 4 ​ 6 ​ 5 ​ 4 ​ 19 38 Cross-currency interest rate swaps - 7 ​ 527 ​ - ​ - ​ - ​ - 534 ​ ​ 81 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total (6,563) (1,495) (809) (775) (557) (808) (3,073) (7,517) ​ ​ 17 Financial instruments (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ AT 31 DECEMBER 2024 ​ Contractual cash flow (including interest) ​ Carrying amount GBPm Within 1 year GBPm 1-2 years GBPm 2-3 years GBPm 3-4 years GBPm 4-5 years GBPm More than 5 years GBPm Total GBPm Borrowings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fixed rate borrowings (5,679) ​ (763) ​ (756) ​ (541) ​ (783) ​ (862) ​ (2,979) (6,684) Floating rate borrowings (762) ​ (762) ​ - ​ - ​ - ​ - ​ - (762) Lease liabilities (103) ​ (43) ​ (28) ​ (19) ​ (10) ​ (4) ​ (27) (131) ​ ​ (6,544) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative financial liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash inflows ​ ​ ​ 1,560 ​ 180 ​ 124 ​ 17 ​ - ​ - ​ 1,881 Cash outflows ​ ​ ​ (1,575) ​ (184) ​ (126) ​ (17) ​ - ​ - ​ (1,902) Forward foreign exchange contracts (23) ​ (15) ​ (4) ​ (2) ​ - ​ - ​ - (21) Interest rate derivatives (119) ​ (25) ​ (22) ​ (22) ​ (22) ​ (22) ​ (22) (135) Cross-currency interest rate swaps (43) ​ (550) ​ - ​ - ​ - ​ - ​ - (550) ​ ​ (185) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative financial assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash inflows ​ ​ ​ 827 ​ 274 ​ 85 ​ 6 ​ - ​ - ​ 1,192 Cash outflows ​ ​ ​ (788) ​ (251) ​ (77) ​ (6) ​ - ​ - ​ (1,122) Forward foreign exchange contracts 53 39 23 8 - - - 70 Interest rate derivatives 21 ​ 3 ​ 5 ​ 5 ​ 4 ​ 3 ​ 16 36 Cross-currency interest rate swaps - ​ 502 ​ - ​ - ​ - ​ - ​ - 502 ​ ​ 74 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total (6,655) (1,614) (782) (571) (811) (885) (3,012) (7,675) ​ The carrying amount of derivative financial liabilities comprises £162m (2023: £130m) in relation to fair value hedges, £15m (2023: £14m) in relation to cash flow hedges and £8m (2023: £3m) not designated as hedging instruments, totalling £185m (2023: £147m), of which £59m (2023: £16m) have been classified as current and £126m (2023: £131m) as non-current liabilities in the statement of financial position. The carrying amount of derivative financial assets comprises £21m (2023: £19m) in relation to fair value hedges, £43m (2023: £53m) in relation to cash flow hedges and £10m (2023: £9m) not designated as hedging instruments, totalling £74m (2023: £81m), of which £35m (2023: £34m) have been classified as current and £39m (2023: £47m) as non-current assets in the statement of financial position. The Group has ample liquidity and access to debt capital markets, providing the ability to repay or refinance borrowings as they mature and to fund ongoing requirements. At 31 December 2024, the Group had access to a $3.0 bn committed bank facility maturing in April 2027, which achieved in 2024. All borrowings that mature within the next two years can be covered by the facility and by utilising available cash resources. Market risk The Group’s primary market risks are interest rate fluctuations and exchange rate movements. Derivatives are used to manage the risks associated with interest rate and exchange rate movements and the Group does not enter into speculative derivatives. Where the impact of derivatives on the income statement and the statement of financial position could be significant, hedge accounting is applied (subject to satisfying the required criteria) as described in ‘Hedge accounting’ below. Derivatives used by the Group for hedging a particular risk are not specialised and are generally available from numerous sources. The Group is also exposed to changes in the market value of its venture capital investments as described in note 15. The impact of market risks on net post-employment benefit obligations and taxation is excluded from the following market risk sensitivity analysis. Interest rate exposure management The Group’s interest rate exposure management policy aims to minimise interest costs with an acceptable level of year-on-year volatility. To achieve this, the Group uses fixed rate term debt and interest rate swaps to give a target mix of fixed rate and floating rate borrowings. Interest rate derivatives are used only to hedge an underlying risk and no net market positions are held. At 31 December 2024, including the effect of interest rate swaps, 56% of gross bank and bond borrowings were at fixed rates. paper borrowings at 31 December 2024. A 100 basis point rise in short-term interest rates would result in an estimated increase in net finance costs of £28 m (2023: £26 m). ​ 17 Financial instruments (continued) The impact on net equity of a theoretical change in interest rates as at 31 December 2024 is restricted to the change in carrying value of floating rate to fixed rate interest rate derivatives in a designated cash flow hedge relationship. A 100 basis point reduction in interest rates would result in an estimated decrease in net equity of nil (2023: nil) and a 100 basis point increase in interest rates would increase net equity by an estimated amount of nil (2023: nil). The impact of a change in interest rates on the carrying value of fixed rate borrowings in a designated fair value hedge relationship would be offset by the change in carrying value of the related interest rate derivative. Fixed rate borrowings not in a designated hedging relationship are carried at amortised cost. The Group has assessed the ongoing impact of the Interbank Offered Rates (IBOR) reform and there has been no significant impact on the financial statements. The Group is primarily exposed to IBOR through its derivatives which swap fixed rate bond issuances to a floating rate of interest and which are designated in fair value hedge relationships. The Group has adopted the ISDA fallback protocol in respect of these derivatives and the fair value hedge designations are expected to remain highly effective throughout the transition to alternative risk free rates. swap £1,134 m of bonds with weighted average maturity of 3.0 years to a floating rate of interest previously referencing US dollar LIBOR (3 months The interest rate derivatives which referenced US dollar LIBOR have been transitioned to US dollar SOFR since Foreign currency exposure management Translation exposures arise on the earnings and net assets of individual businesses whose operational currencies are other than sterling. Some of these exposures are offset by denominating borrowings in US dollars, euros and other currencies. Currency exposures on transactions denominated in a foreign currency are generally hedged using forward contracts. In addition, recurring transactions and future investment exposures may be hedged, in advance of becoming contractual. The precise policy differs according to the specific circumstances of the individual businesses. Highly predictable future cash flows may be covered for transactions expected to occur during the next 24 months A theoretical weakening of all currencies by 10% against sterling at 31 December 2024 would decrease the carrying value of net assets, excluding net borrowings, by £852m (2023: £835m). This would be offset to a degree by a decrease in net borrowings of £683m (2023: £716m). A strengthening of all currencies by 10% against sterling at 31 December 2024 would increase the carrying value of net assets, excluding net borrowings, by £852m (2023: £835m) and increase net borrowings by £683m (2023: £716m). A retranslation of the Group’s net profit for the year, assuming a 10% weakening of all foreign currencies against sterling but excluding transactional exposures, would reduce net profit by £156m (2023: £145m). A 10% strengthening of all foreign currencies against sterling on this basis would increase net profit for the year by £156m (2023: £145m). Credit risk The Group seeks to manage interest rate risk and limit foreign exchange risks described above by the use of financial instruments and as a result has a credit risk from the potential non-performance by the counterparties to these financial instruments, which are unsecured. The amount of this credit risk is normally restricted to the amounts of any hedge gain and not the principal amount being hedged. The Group also has a credit exposure to counterparties for the full principal amount of cash and cash equivalents. Credit risks are controlled by monitoring the credit quality of these counterparties, principally licensed commercial banks and investment banks with strong long-term credit ratings, and the amounts outstanding with each of them. The Group has treasury policies in place which do not allow concentrations of risk with individual counterparties and do not allow significant treasury exposures with counterparties which are rated lower than A-/A3 by Standard & Poor’s, Moody’s and Fitch. At December 2024, cash and cash equivalents totalled £119 m (2023: £155 m), of which 91% (2023: 91% ) was held with banks rated A-/A3 or better. The Group also has credit risk with respect to trade receivables due from its customers, which include national and state governments, academic institutions and large and small enterprises including insurance companies, law firms and life science companies. The concentration of credit risk from trade receivables is limited due to the large and broad customer base. Trade receivable exposures are managed locally in the business areas where they arise. Where appropriate, business areas seek to minimise this exposure by taking payment in advance and through management of credit terms. Expected credit losses are based on management’s assessment of the risk taking into account the ageing profile, experience and circumstance. The maximum exposure to credit risk is represented by the carrying amount of each financial asset, including derivative financial instruments, recorded in the statement of financial position. Included within trade receivables are the following amounts which are past due, after considering loss allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm ​ 2023 GBPm ​ 2024 GBPm Up to one month ​ 265 ​ 259 ​ 217 2 to 3 months ​ 115 ​ 130 ​ 130 4 to 6 months ​ 46 ​ 56 ​ 57 Greater than 6 months ​ 23 ​ 35 ​ 24 Total past due ​ 449 ​ 480 ​ 428 ​ 17 Financial instruments (continued) Hedge accounting The hedging relationships that are designated under IFRS 9 – Financial Instruments are described below. Fair value hedges The Group has entered into interest rate swaps and cross-currency interest rate swaps to hedge the exposure to changes in the fair value of fixed rate borrowings due to interest rate and foreign currency movements which could affect the income statement. The table below details the designated fair value hedge relationships that were in place at 31 December 2024, swapping fixed rate term debt issues denominated in US dollars (USD) and euros to floating rate USD and euro debt respectively for the whole or part of their term, together with the related fixed and floating rates. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FAIR VALUE HEDGE RELATIONSHIPS 31 December 2023 Principal amount GBPm 31 December 2024 Principal amount GBPm Fixed rate ​ ​ Floating rate €500m bond and €500m interest rate swaps maturing 2024 (433) - 1.0% ​ ​ Euribor+0.7% €600m bond and €600m/$669.3m cross-currency interest rate swaps maturing 2025 (524) (535) 1.3% ​ ​ USD SOFR+1.5% $750m bond and $750m interest rate swaps maturing 2030 (588) (599) 3.0% ​ ​ USD SOFR+1.8% €750m bond and €750m interest rate swaps maturing 2031 (650) (620) 3.8% ​ ​ Euribor+0.9% $500m bond and $500m interest rate swaps maturing 2032 ​ (392) ​ (399) ​ 4.8% ​ ​ USD SOFR+2.0% ​ (2,587) (2,153) ​ ​ ​ ​ ​ ​ The gains and losses on the borrowings and related derivatives designated as fair value hedges, which are included in the income statement as part of finance costs, together with the total carrying values of the borrowings and related derivatives included in the statement of financial position, for the three years ended 31 December 2022, 2023 and 2024 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2022 GBPm Fair value movement gain/(loss) GBPm Exchange gain/(loss) GBPm 31 December 2022 GBPm Carrying values GBPm USD debt (1) 140 2 141 (1,630) Related interest rate swaps 8 (149) (2) (143) (143) ​ 7 (9) - (2) (1,773) EUR debt (27) 96 1 70 (924) Related interest rate swaps 27 (96) (1) (70) (70) ​ - - - - (994) Total relating to USD and EUR debt (28) 236 3 211 (2,554) Total related interest rate swaps 35 (245) (3) (213) (213) Net gain on borrowings and related derivatives/total carrying value 7 (9) - (2) (2,767) ​ 17 Financial instruments (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2023 GBPm Fair value movement gain/(loss) GBPm Redemption/ close-out GBPm Exchange gain/(loss) GBPm 31 December 2023 GBPm Carrying values GBPm USD debt 141 ​ (22) (16) ​ (6) 97 (871) Related interest rate swaps (143) ​ 21 16 ​ 6 (100) (100) ​ (2) (1) - - (3) (971) EUR debt 70 ​ (61) - ​ (2) 7 (1,600) Related interest rate swaps (70) ​ 60 - ​ 2 (8) (8) ​ - (1) - - (1) (1,608) Total relating to USD and EUR debt 211 (83) (16) (8) 104 (2,471) Total related interest rate swaps (213) 81 16 8 (108) (108) Net gain/(loss) on borrowings and related derivatives/total carrying value (2) (2) - - (4) (2,579) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2024 GBPm Fair value movement gain/(loss) GBPm Redemption/ close-out GBPm Exchange gain/(loss) GBPm 31 December 2024 GBPm Carrying values GBPm USD debt 97 ​ 14 ​ - ​ 3 114 (875) Related interest rate swaps (100) ​ (16) ​ - ​ (3) (119) (119) ​ (3) (2) - - (5) (994) EUR debt 7 ​ 12 ​ - ​ 1 20 (1,133) Related interest rate swaps (8) ​ (12) ​ - ​ (1) (21) (21) ​ (1) - - - (1) (1,154) Total relating to USD and EUR debt 104 26 - 4 134 (2,008) Total related interest rate swaps (108) (28) - (4) (140) (140) Net loss on borrowings and related derivatives/total carrying value ​ (4) (2) - - (6) (2,148) ​ All fair value hedges were highly effective throughout the three years ended 31 December 2024. $200 m of bonds that were due to be repaid in August 2027 were redeemed early in December 2023. These bonds had been swapped Cash flow hedges As part of the Group’s interest rate exposure management, it has entered into certain cross-currency interest rate derivatives, individual components of which have been accounted for as cash flow hedges (with the remaining components accounted for as fair value hedges, as described above). These comprised interest rate derivatives which swapped a fixed rate €600m bond, issued in May 2015 and maturing in May 2025, to floating rate USD debt for the whole of its term. The component relating to the swap of the euro credit margin to USD is being accounted for as a cash flow hedge under IFRS 9, with the amount associated with foreign currency basis spreads recorded in the cost of hedging reserve. As part of the Group’s foreign currency exposure management, it has entered into forward foreign exchange contracts which fix the exchange rate on a portion of future foreign currency subscription revenues forecast by the businesses for up to 50 months. These have been accounted for as cash flow hedges under IFRS 9 of the forecast foreign currency revenues, with gains and losses on the forward contracts deferred in the hedge reserve until the related revenue is recognised, at which time the accumulated gains and losses are reclassified to the income statement. ​ 17 Financial instruments (continued) Movements in the hedge reserve and the cost of hedging reserve in 2023 and 2024, including gains and losses on cash flow hedging instruments, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate hedge reserve GBPm Cost of hedging reserve GBPm Foreign currency hedge reserve GBPm Total GBPm Hedge reserve at 31 December 2022: losses deferred (2) (1) (8) (11) Gains/(losses) arising in 2023 1 (3) 31 29 Amounts recognised in income statement 1 ​ - ​ 17 18 Hedge reserve at 31 December 2023: (losses)/gains deferred - (4) 40 36 (Losses)/gains arising in 2024 (5) 6 10 11 Amounts recognised in income statement 2 ​ - ​ (22) (20) Hedge reserve at 31 December 2024: (losses)/gains deferred (3) 2 28 27 ​ All cash flow hedges were highly effective throughout the two years ended 31 December 2024. A deferred tax debit of £6m (2023: £9m) in respect of the above gains and losses at 31 December 2024 was also deferred in the hedge reserve. Of the amounts recognised in the income statement in the year, gains of £22m (2023: losses of £17m) were recognised in revenue, and losses of £2m (2023: £1m) were recognised in finance costs. A tax debit of £5m (2023: credit of £4m) was recognised in relation to these items. The deferred gains and losses on foreign currency cash flow hedges at 31 December 2024 are currently expected to be recognised in the income statement in future years as shown in the table below, together with the principal amount of hedges relating to each year and their total carrying values included within derivative assets and liabilities in the statement of financial position: ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency hedge reserve GBPm Principal amount of hedges GBPm Carrying values GBPm 2025 17 ​ 465 ​ 25 2026 11 ​ 501 ​ 11 2027 - ​ 268 ​ - 2028 - ​ 30 ​ - Total 28 1,264 36 ​ The cash flows for these hedges are expected to occur in line with the recognition of the gains and losses in the income statement, or in the preceding year. These cash flows are included in the table on page 171.

Inventories and pre-publication

Inventories and pre-publication costs	12 Months Ended
	Dec. 31, 2024
Inventories and pre-publication costs
Inventories and pre-publication costs	18 Inventories and pre-publication costs ​ Accounting policy Inventories and pre-publication costs are stated at the lower of cost, including appropriate attributable overhead, and estimated net realisable value. Such costs typically comprise direct internal labour costs and externally commissioned editorial and other fees. Pre-publication costs, representing costs incurred in the origination of content prior to publication, are expensed systematically Annual reviews are carried out to assess the recoverability of carrying amounts. ​ ​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Raw materials 1 - Pre-publication costs 278 302 Finished goods 39 29 Total 318 331 ​ During the year, pre-publication costs of £ 92 m (2023: £93 m) were capitalised. The related amortisation charge was £ 77 m (2023: £76 m

Trade and other receivables

Trade and other receivables	12 Months Ended
	Dec. 31, 2024
Trade and other receivables.
Trade and other receivables	19 Trade and other receivables ​ Accounting policy Trade receivables are stated net of a loss allowance for expected credit losses. ​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Trade receivables 2,144 2,306 Loss allowance (119) (122) ​ 2,025 2,184 Prepayments and accrued income 288 283 Current tax receivable 6 42 Net finance lease receivable 4 2 Total 2,323 2,511 ​ Trade receivables are predominantly non-interest bearing and their carrying amounts approximate to their fair value. The movements in the loss allowance during the year were as follows: ​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm At start of year 118 119 Charge for the year 8 17 Trade receivables written off (3) (13) Exchange translation differences (4) (1) At end of year 119 122 ​

Trade and other payables

Trade and other payables	12 Months Ended
	Dec. 31, 2024
Trade and other payables
Trade and other payables	20 Trade and other payables ​ Accounting policy Deferred income is recognised when either a customer has paid consideration, or RELX has an unconditional right to an amount of consideration, in advance of the goods and services being delivered. Trade payables, accruals and other payables are predominantly non-interest-bearing and are stated at their nominal values. ​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Trade payables 171 223 Accruals 842 851 Social security and other taxes 174 181 Other payables 487 539 Deferred income 2,297 2,328 Total 3,971 4,122 ​ Trade and other payables are predominantly non-interest bearing and their carrying amounts approximate to their fair value. Materially all of the opening deferred income balance has been recognised in the reporting period.

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt
Debt	21 Debt ​ Accounting policy Borrowings are recorded initially at fair value and subsequently carried at amortised cost, other than fixed rate borrowings ​ ​ 21 Debt (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2024 ​ Falling due within 1 year GBPm Falling due in more than 1 year GBPm ​ Total GBPm Falling due within 1 year GBPm Falling due in more than 1 year GBPm ​ Total GBPm Financial liabilities measured at amortised cost: Short-term bank loans, overdrafts and commercial paper 220 - 220 762 - 762 Term debt 606 2,940 3,546 - 3,551 3,551 Lease liabilities 57 84 141 38 65 103 Term debt in fair value hedging relationships 430 2,041 2,471 492 1,516 2,008 Term debt previously in fair value hedging relationships - 119 119 120 - 120 Total 1,313 5,184 6,497 1,412 5,132 6,544 ​ The total fair value of financial liabilities measured at amortised cost (excluding lease liabilities) is £ 4,193 m (2023: £ 3,610 m). The RELX PLC has given guarantees in respect of certain long-term and short-term borrowings issued by subsidiaries. Included within term debt above are debt securities issued by RELX Capital Inc., a 100% indirectly owned finance subsidiary of RELX PLC, which have been registered with the US Securities and Exchange Commission. RELX PLC has fully and unconditionally guaranteed these securities, which are not guaranteed by any other subsidiary of RELX PLC. Analysis by year of repayment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2024 ​ Short-term bank loans, overdrafts and commercial paper GBPm Term debt GBPm Lease liabilities GBPm Total GBPm Short-term bank loans, overdrafts and commercial paper GBPm Term debt GBPm Lease liabilities GBPm Total GBPm Within 1 year 220 1,036 57 1,313 762 612 38 1,412 Within 1 to 2 years - 620 19 639 - 619 13 632 Within 2 to 3 years - 647 18 665 - 412 12 424 Within 3 to 4 years - 432 17 449 - 658 12 670 Within 4 to 5 years - 689 9 698 - 753 9 762 After 5 years - 2,712 21 2,733 - 2,625 19 2,644 After 1 year - 5,100 84 5,184 - 5,067 65 5,132 Total 220 6,136 141 6,497 762 5,679 103 6,544 ​ Short-term bank loans, overdrafts and commercial paper were backed up at 31 December 2024 by a $3.0bn (£2.4bn) committed bank facility maturing in 2027. The committed bank facility was undrawn as at 31 December 2024 (2023: undrawn). In March 2024, €850m of euro denominated term debt was issued with a coupon of 3.375% and a maturity of nine years. Analysis by currency ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2024 ​ Short-term bank loans, overdrafts and commercial paper GBPm Term debt GBPm Lease liabilities GBPm Total GBPm Short-term bank loans, overdrafts and commercial paper GBPm Term debt GBPm Lease liabilities GBPm Total GBPm US dollar 188 2,234 37 2,459 446 2,246 21 2,713 Pound sterling - - 29 29 8 - 30 38 Euro 24 3,902 47 3,973 295 3,433 29 3,757 Other currencies 8 - 28 36 13 - 23 36 Total 220 6,136 141 6,497 762 5,679 103 6,544 ​ Included in the US dollar amounts for term debt above is £ 493 m (2023: £ 501 m) of debt denominated in euros (€ 600 m) (2023: € 600 m that was swapped into US dollars on issuance and against which there are related derivative financial instruments, which, as at 31

Lease arrangements

Lease arrangements	12 Months Ended
	Dec. 31, 2024
Lease arrangements
Lease arrangements	22 Lease arrangements ​ Accounting policy All leases where RELX is the lessee (with the exception of short-term and low-value leases) are recognised in the statement of financial position. A lease liability is recognised based on the present value of the future lease payments, and a corresponding right-of-use asset is recognised. The right-of-use asset is depreciated over the shorter of the lease term or the useful life of the asset. Lease payments are apportioned between finance charges and a reduction of the lease liability. Low-value items and short-term leases with a term of 12 months or less are not required to be recognised in the statement of financial position and payments made in relation to these leases are recognised on a straight-line basis in the income statement. The leases held by the Group can be split into two categories: property and non-property. The Group leases various properties, principally offices, which have varying terms and renewal rights that are typical to the territory in which they are located. Non-property includes all other leases, such as cars and printers. ​ Right-of-use assets ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm At start of year 145 113 Additions 38 32 Remeasurement 6 5 Disposals (7) (9) Depreciation (65) (50) Exchange translation differences (4) (2) At end of year 113 89 ​ Lease liability ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Current Property (55) (37) Non-property (2) (1) Non-current Property (82) (63) Non-property (2) (2) Total (141) (103) ​ Interest expense on the lease liabilities recognised within finance costs was £5m (2023: £6m; 2022: £6m). As at 31 December 2024, RELX was committed to leases with future cash outflows totalling £7m (31 December 2023: £6m) which had not yet commenced and as such are not accounted for as a liability as at 31 December 2024. A liability and corresponding right-of-use asset will be recognised for these leases at the lease commencement date. Short-term and low-value lease expenses have been included in note 3. Interest income recognised in relation to finance lease receivables is disclosed in note 7.

Share capital and shares held i

Share capital and shares held in treasury	12 Months Ended
	Dec. 31, 2024
Share capital and shares held in treasury
Share capital and shares held in treasury	23 Share capital and shares held in treasury ​ Accounting policy Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity, net of any tax effects. Share premium is the excess of the consideration received over the nominal value of the shares issued. Shares of RELX PLC that are repurchased and not cancelled are classified as shares held in treasury. The consideration paid, including directly attributable costs, is recognised as a deduction from equity. Shares of RELX PLC that are purchased by the Employee Benefit Trust are also classified as shares held in treasury, with the cost recognised as a deduction from equity. ​ RELX PLC ​ ​ ​ ​ ​ ​ ​ ​ ​ CALLED UP SHARE CAPITAL – ORDINARY SHARES OF UK 14 ⁵¹/₁₁₆ PENCE EACH ALLOTTED, ISSUED AND FULLY PAID No. of shares 2023 GBPm No. of shares 2024 GBPm At start of year 1,934,880,088 279 1,906,907,605 275 Issue of ordinary shares 3,027,517 - 2,937,114 - Cancellation of ordinary shares ​ (31,000,000) ​ (4) ​ (29,000,000) ​ (3) At end of year 1,906,907,605 275 1,880,844,719 ​ 272 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ NUMBER OF ORDINARY SHARES ​ Year ended 31 December ​ ​ 2023 Shares in issue net of treasury shares* (millions) ​ Shares in issue (millions) Treasury shares (millions) 2024 Shares in issue net of treasury shares* (millions) At start of year ​ 1,909.5 1,906.9 (25.4) 1,881.5 Issue of ordinary shares ​ 3.0 2.9 - 2.9 Repurchase of ordinary shares ​ (30.9) - (28.9) (28.9) Net (purchase)/release of shares by the Employee Benefit Trust ​ (0.1) - ​ 0.4 ​ 0.4 Cancellation of ordinary shares ​ - ​ (29.0) ​ 29.0 ​ - At end of year ​ 1,881.5 1,880.8 ​ (24.9) ​ 1,855.9 * At 31 December 2024 the total shares in issue net of treasury shares is 1,855,941,895 (2023: 1,881,531,883 ). All of the ordinary shares rank equally with respect to voting rights and rights to receive dividends, except for the shares held in treasury, which do not attract voting or dividend rights. There are no restrictions on the rights to transfer shares. The issue of ordinary shares in the year relates to the exercise of share options. During the year, RELX PLC repurchased 28.9m (2023: 30.9m; 2022: 21.7m) ordinary shares for an average price of 3,461p. Total consideration for these repurchased shares was £1,000m (2023: £800m; 2022: £500m). On 6 December 2024, RELX PLC announced a non-discretionary programme to repurchase further ordinary shares up to the value of £150m. At 31 December 2024, an accrual of £150m was recognised in respect of this non-discretionary commitment. A further 3.8m RELX PLC ordinary shares have been repurchased in January and February 2025 under this programme. The Employee Benefit Trust purchases RELX PLC shares which, at the trustees’ discretion, can be used in respect of the exercise of share options and to meet commitments under conditional share awards. During the year, the Employee Benefit Trust purchased 2.2m shares for a total cost of £75m (2023: £50m; 2022: £50m). At 31 December 2024, shares held by the Employee Benefit Trust were £139m (2023: £117m; 2022: £101m) at cost. During 2024, 29m (2023: 31m) ordinary shares held in treasury were cancelled. At 31 December 2024, RELX PLC shares held in treasury related to 5,295,154 (2023: 5,663,529; 2022: 5,553,401) ordinary shares held by the Employee Benefit Trust; and 19,607,670 (2023: 19,712,193 ; 2022: 19,800,067 ) ordinary shares held by the parent company.

Other reserves and translation

Other reserves and translation reserve	12 Months Ended
	Dec. 31, 2024
Other reserves and translation reserve
Other reserves and translation reserve	24 Other reserves and translation reserve ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total 2023 GBPm Translation reserve 2024 GBPm ​ Hedge reserve 2024 GBPm Other reserves 2024 GBPm ​ Total 2024 GBPm At start of year ​ 2,394 392 ​ 27 1,761 ​ 2,180 Profit attributable to shareholders ​ 1,781 - ​ - 1,934 ​ 1,934 Dividends paid ​ (1,059) - ​ - (1,121) ​ (1,121) Actuarial (losses)/gains on defined benefit pension schemes ​ (75) - ​ - 43 ​ 43 Fair value movements on cash flow hedges ​ 29 - ​ 11 - ​ 11 Transfer to profit from cash flow hedge reserve ​ 18 - ​ (20) - ​ (20) Tax recognised in other comprehensive income ​ 7 - ​ 3 ​ (11) ​ (8) Exchange differences on translation of foreign operations ​ (285) 175 ​ - - ​ 175 Cancellation of shares ​ (673) - ​ - (850) ​ (850) Increase in share based remuneration reserve (including tax) ​ 77 - ​ - 79 ​ 79 Settlement of share awards ​ (34) - ​ - (53) ​ (53) Acquisition of non ‐ controlling interests ​ - - ​ - (44) ​ (44) At end of year ​ 2,180 567 ​ 21 1,738 ​ 2,326 ​ The closing balance of other reserves in the consolidated statement of changes in equity of £1,759m (2023: £1,788m) is comprised of the hedge reserve £21m (2023: £27m); and other reserves £1,738m (2023: £1,761m). Other reserves principally comprise retained earnings and the share based remuneration reserve. Movements in reserves during the period include the effects of profits generated during the period, share repurchases, changes in exchange rates and other items. Dividends paid during 2024 were £1,121m (2023: £1,059m). Refer to note 13 for further details. 29m (2023: 31m) ordinary shares held in treasury were cancelled resulting in a transfer of £850 m between other reserves and shares held in treasury. The increase of £175m in the translation reserve is due to the net effect of changes in exchange rates during the period which decreased net debt by £46m and increased assets (net of other liabilities) by £129m.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2024
Related party transactions
Related party transactions	25 Related party transactions Transactions with related parties were made on normal market terms of trading. Transactions between RELX PLC and subsidiaries of the Group have been eliminated within the consolidated financial statements. Transactions with joint ventures and associates comprise sales of goods and services of £23.3m (2023: £17.4m; 2022: £0.4m). As at 31 December 2024, amounts owed by joint ventures and associates were £6.6m (2023: £6.6m; 2022: £4.2m) and amounts due to joint ventures and associates were £1.6m (2023: £2.3m; 2022: £1.2m). See note 6 for details of the Group’s participation in defined benefit pension schemes. Key management personnel are also related parties as defined by IAS 24 – Related Party Disclosures and comprise the Executive and Non-Executive Directors of RELX PLC. Key management personnel remuneration is set out below. For reporting purposes, salary, benefits and annual incentive payments are considered short-term employee benefits. ​ ​ ​ ​ ​ ​ ​ ​ KEY MANAGEMENT PERSONNEL REMUNERATION 2022 GBPm 2023 GBPm 2024 GBPm Salaries, other short-term employee benefits and non-executive fees ​ 7 ​ 8 ​ 8 Share based remuneration* ​ 7 14 14 Total ​ 14 22 22 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ EXECUTIVE DIRECTORS ​ Salary GBP’000 Benefits GBP’000 Annual incentive GBP’000 Share based remuneration* GBP’000 Pension* GBP’000 Total GBP’000 Total Executive Directors 2022 2,137 97 3,251 6,857 268 12,610 ​ 2023 2,190 ​ 97 ​ 3,808 ​ 14,354 ​ 241 20,690 ​ 2024 2,245 ​ 109 ​ 3,576 ​ 14,322 ​ 247 20,499 * The figures for share based awards are calculated in accordance with the methodology set out in the UK adopted International Accounting Standards and International Financial Reporting Standards as issued by the International Accounting Standards Boards (IASB). The figure for performance-related share based awards includes share price appreciation since the date the award was granted. Please see page 104 for further details. Pension is calculated in accordance with the methodology set out in the UK Regulations. ​ ​ ​ ​ ​ ​ ​ ​ NON-EXECUTIVE DIRECTORS 2022 GBP’000 2023 GBP’000 2024 GBP’000 Fees and benefits ​ 1,566 ​ 1,566 ​ 1,781 ​ The remuneration of non-executive directors comprises fees for services, and benefits primarily relating to tax filing support in respect of filings resulting from their directorships. No deemed benefits were provided during 2024 to former directors (2023: nil; 2022: nil). No loans, advances or guarantees have been provided on behalf of any director. The aggregate gains made by Executive Directors on the exercise of options during 2024 were £11.7m (2023: £6.7m; 2022: nil).

Exchange rates

Exchange rates	12 Months Ended
	Dec. 31, 2024
Exchange rates
Exchange rates	26 Exchange rates The following exchange rates have been applied in preparing the consolidated financial statements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income statement Statement of financial position ​ 2022 2023 2024 2023 2024 Euro to sterling ​ 1.17 1.15 1.18 1.15 1.21 US dollar to sterling ​ 1.24 1.24 1.28 1.28 1.25 ​

Approval of financial statement

Approval of financial statements	12 Months Ended
	Dec. 31, 2024
Approval of financial statements
Approval of financial statements	27 Approval of financial statements The consolidated financial statements were approved and authorised for issue by the Board of Directors on 12 February 2025.

Related undertakings

Related undertakings	12 Months Ended
	Dec. 31, 2024
Related party transactions
Related undertakings	28 Related undertakings A full list of related undertakings (comprising subsidiaries, joint ventures, associates and other significant holdings) as at 31 December 2024 is set out below. Unless where otherwise stated, all undertakings are held indirectly by RELX PLC, and the effective interest held by the Group is 100%. ​ ​ ​ ​ Company name Share class Reg office Australia ​ ​ LNRS Data Services (Australia) Pty Ltd Ordinary AUS1 Reed Exhibitions Australia Pty Limited Ordinary AUS2 RELX Holdings Australia Pty Ltd Ordinary AUS2 RELX Trading Australia Pty Limited Ordinary AUS2 ​ ​ ​ Austria ​ ​ LexisNexis Verlag ARD ORAC GmbH & Co KG Partnership Interest AUT2 ORAC GmbH Ordinary AUT2 RELX Austria GmbH Ordinary AUT3 RX CEE GmbH Ordinary AUT1 RX Salzburg GmbH Ordinary AUT3 Seminar Oberlaa GmbH Ordinary AUT4 ​ ​ ​ Belgium ​ ​ LexisNexis BV Ordinary BEL1 Henchman B.V. Ordinary BEL2 ​ ​ ​ Brazil ​ ​ Elsevier Editora Limiteda Quotas BRA1 Gestora de Inteligencia de Credito S.A. (20%) Preferred, Ordinary BRA6 LexisNexis Informacoes e Sistemas Empresariais Limiteda Quotas BRA4 LexisNexis Servicos de Analise de Risco Limiteda Quotas BRA5 MLex Brasil Midia Mercadologica Limiteda Quotas BRA3 Reed Exhibitions Alcantara Machado Limiteda Quotas BRA2 ​ ​ ​ Canada ​ ​ Corps Events IntCan Class A Voting CAN3 Elsevier Canada Inc. Class A Common CAN2 Human API Technologies Inc. Voting CAN4 LexisNexis Canada Inc. Class B Voting CAN1 PCLaw Time Matters Canada Inc. Common CAN5 ​ ​ ​ China ​ ​ Bakery China Exhibitions Co., Limited (25%) Ordinary CHN1 Beijing Medtime Elsevier Education Technology Co., Limited (49%) Common CHN2 Beijing Reed Elsevier Science and Technology Co Ltd 1 Common CHN19 C-One Energy (Guangzhou) Co., Limited Ordinary CHN5 Jingxunlingsi (Beijing) Information Technology Co Ltd 1 Ordinary CHN4 KeAi Communications Co., Limited (49%) Ordinary CHN15 LexisNexis Information Technology Co. Limited Ordinary CHN4 LexisNexis Risk Solutions (Shanghai) Information Technologies Co Limited Common CHN7 LNRS Data Services (Shanghai) Co Limited Ordinary CHN13 Peili Computer Co Ltd 1 Ordinary CHN13 Reed Elsevier Information Technology (Beijing) Co Limited Common CHN3 Reed Exhibitions (China) Co., Limited Ordinary CHN4 Reed Exhibitions Hengjin Co., Limited (51%) Ordinary CHN12 Reed Exhibitions Kuozhan (Shanghai) Co., Limited (60%) Ordinary CHN8 Reed Huabai Exhibitions (Beijing) Co., Limited (51%) Ordinary CHN4 RX Huabo Exhibitions (Shenzhen) Co., Limited (65%) Ordinary CHN16 Reed Huaqun Exhibitions Co., Limited (52%) Ordinary CHN4 Reed Sinopharm Exhibitions Co., Limited (50%) Ordinary CHN4 RX (China) Investment Co., Limited Ordinary CHN9 RX (Shenzhen) Co., Limited Ordinary CHN6 RX Huabo (Shenzhen) Technology Co. Limited 1 Ordinary CHN16 RX Technology (Shanghai) Co. Limited 1 Ordinary CHN18 Shanghai Datong Medical Information Technology Co., Limited Ordinary CHN17 Shanghai SinoReal Exhibitions Co., Limited (27.5%) Ordinary CHN11 Tianjin Beikeqilong Exhibition Services Limited (12.5%) Ordinary CHN10 Z&R Exhibitions Co., Limited (27.5%) Ordinary CHN14 ​ ​ ​ Colombia ​ ​ LexisNexis Risk Solutions SAS Ordinary COL1 ​ ​ ​ Denmark ​ ​ Elsevier A/S Ordinary DNK1 ​ ​ ​ Egypt ​ ​ Elsevier Egypt LLC Ordinary EGY1 ​ ​ ​ ​ ​ Company name Share class Reg office France ​ ​ Elsevier Holding France SAS Ordinary FRA1 Elsevier Masson SAS Ordinary FRA1 Fircosoft SAS Ordinary FRA6 GIE EDI Data (83%) Ordinary FRA2 GIE Juris Data Ordinary FRA2 LexisNexis Business Information Solutions SA Ordinary FRA2 LexisNexis Business Information Solutions Holding SA Ordinary FRA4 LexisNexis SA Ordinary FRA2 Reed Exhibitions ISG SARL Ordinary FRA3 RELX France SAS Ordinary FRA3 RELX France Services SAS Ordinary FRA6 RX France SAS Ordinary FRA3 SAFI Salon Français et Internationaux (50%) Ordinary FRA5 ​ ​ ​ Germany ​ ​ Elsevier GmbH Ordinary DEU2 IPlytics GmbH Ordinary DEU6 LexisNexis GmbH Ordinary DEU3 PatentSight GmbH Ordinary DEU5 RELX Deutschland GmbH Ordinary DEU1 RX Deutschland GmbH Ordinary DEU7 Tschach Solutions GmbH Ordinary DEU4 ​ ​ ​ Hong Kong ​ ​ Ascend China Holding Limited Ordinary HNK4 JC Exhibition and Promotion Limited (65%) Ordinary HNK4 JYLN Sager Limited Ordinary HNK2 LNRS Data Services (China) Limited Ordinary HNK1 Reed Exhibitions Limited Ordinary HNK4 RELX (Greater China) Limited Ordinary HNK3 ​ ​ ​ India ​ ​ FircoSoft India Private Limited Ordinary IND2 Reed Elsevier Publishing (India) Private Limited Ordinary IND1 Reed Manch Exhibitions Private Limited Ordinary IND1 Reed Triune Exhibitions Private Limited Ordinary IND1 RELX India Private Limited Ordinary IND1 ​ ​ ​ Indonesia ​ ​ PT Reed Exhibitions Indonesia (70%) Series A, Series B IDN1 PT RELX Information Analytics Indonesia Common IDN2 ​ ​ ​ Irish Republic ​ ​ Elsevier (Ireland) Limited Ordinary IRL2 LexisNexis Risk Solutions (Europe) Limited Ordinary IRL1 RELX International Finance Designated Activity Company Ordinary IRL1 ​ ​ ​ Israel ​ ​ LexisNexis Israel Ltd Ordinary ISR1 ​ ​ ​ Italy ​ ​ Elsevier SRL Registered Capital ITA1 ICIS Italia SRL Ordinary ITA2 RX Italy SRL Ordinary ITA1 ​ ​ ​ Japan ​ ​ Elsevier Japan KK Ordinary JPN1 LexisNexis Japan KK Ordinary JPN2 RX Japan Ltd Ordinary JPN2 ​ ​ ​ Kingdom of Saudi Arabia ​ ​ RX Arabia LLC Ordinary KSA1 ​ ​ ​ Korea (Republic of) ​ ​ Elsevier Korea LLC Ordinary KOR1 LexisNexis Legal and Professional Service Korea Limited Ordinary KOR1 Reed Exhibitions Korea Limited Ordinary KOR2 Reed Exporum Limited (60%) Ordinary KOR3 Reed K. Fairs Limited (70%) Ordinary KOR4 ​ 28 Related undertakings (continued) ​ ​ ​ Company name Share class Reg office Macau ​ ​ Reed Exhibitions Macau Limited Ordinary MAC1 ​ ​ ​ Malaysia ​ ​ LexisNexis Malaysia Sdn Bhd Ordinary MYS1 ​ ​ ​ Mexico ​ ​ Human API Technologies, S. de R.L. de C.V. Fixed MEX2 Masson-Doyma Mexico, S.A. Ordinary MEX1 Reed Exhibitions Mexico S.A. de C.V. Fixed MEX1 ​ ​ ​ Netherlands ​ ​ AGRM Solutions C.V. Partnership Interest NLD1 Caselex B.V. Ordinary NLD1 Elsevier B.V. Ordinary NLD1 ICIS Benchmarking Europe B.V. Ordinary NLD1 LexisNexis Business Information Solutions B.V. Ordinary NLD1 LNRS Data Services B.V. Ordinary NLD1 Misset Uitgeverij B.V. (49%) Ordinary NLD2 RELX Employment Company B.V. Ordinary NLD1 RELX Finance B.V. Ordinary NLD1 RELX Holdings B.V. Ordinary NLD1 RELX Nederland B.V. Ordinary NLD1 RELX Overseas B.V. Ordinary RE NLD1 ​ ​ ​ New Zealand ​ ​ LexisNexis NZ Limited Ordinary NZL1 ​ ​ ​ Philippines ​ ​ Reed Elsevier Shared Services (Philippines) Inc. Common PHL1 ​ ​ ​ Poland ​ ​ AI Digital Contracts Sp. z.o.o. Ordinary POL1 Elsevier Sp. z.o.o. Ordinary POL2 ​ ​ ​ Singapore ​ ​ Elsevier (Singapore) Pte Limited Ordinary SGP1 LNRS Data Services Pte Limited Ordinary SGP1 RE (HAPL) Pte Limited Ordinary SGP1 RELX (Singapore) Pte Limited Ordinary SGP2 ​ ​ ​ South Africa ​ ​ LexisNexis (Pty) Limited (78%) Ordinary ZAF1 LexisNexis Risk Management (Pty) Limited (78%) Ordinary ZAF1 LexisNexis South Africa Shared Services (Pty) Limited Ordinary ZAF1 Reed Events Management (Pty) Limited (90%) Ordinary ZAF1 Reed Exhibitions (Pty) Limited (90%) Ordinary ZAF1 Reed Exhibitions Group (Pty) Limited (90%) Ordinary ZAF1 Reed Venue Management (Pty) Limited (90%) Ordinary ZAF1 RELX (Pty) Limited Ordinary ZAF1 ​ ​ ​ Spain ​ ​ Elsevier Espana S.L.U Participations ESP1 ​ ​ ​ Sweden ​ Behaviometrics AB A, B, and C shares SWE1 ​ ​ ​ Taiwan ​ ​ Elsevier Taiwan LLC Ordinary TWN1 ​ ​ ​ Thailand ​ ​ Reed Tradex Company Limited (49%) Ordinary THA1 RELX Holding (Thailand) Co., Limited Ordinary THA2 RELX Information Analytics (Thailand) Co., Limited Ordinary THA3 ​ ​ ​ Turkey ​ ​ Elsevier STM Bilgi Hizmetleri Limited Sirketi Ordinary TUR1 Reed Tuyap Fuarcilik A.S. (50%) A Ordinary, B Ordinary TUR2 ​ ​ ​ United Arab Emirates ​ ​ Reed Exhibitions FZ-LLC Ordinary UAE1 RELX Middle East FZ-LLC Ordinary UAE2 ​ ​ ​ ​ Company name Share class Reg office United Kingdom ​ ​ Aistemos Limited Ordinary GBR3 Butterworths Limited Ordinary GBR3 Cordery Compliance Limited (71%) Ordinary GBR3 Cordery Limited (71%) Ordinary GBR3 Crediva Limited Ordinary GBR4 Elsevier Limited Ordinary GBR5 Interfolio UK Limited Ordinary GBR6 LexisNexis Risk Solutions UK Limited Ordinary GBR4 LNRS Data Services Holdings Limited Ordinary GBR1 LNRS Data Services Limited Ordinary GBR1 Mack-Brooks Exhibitions Limited Ordinary GBR2 MLex Limited Ordinary GBR3 Offshore Europe (Management) Limited Ordinary GBR2 Offshore Europe Partnership (50%) Partnership Interest GBR2 RE (HPL) Limited Ordinary GBR1 RE (RCB) Limited Ordinary GBR1 RE Secretaries Limited Ordinary GBR1 RE (SOE) Limited Ordinary GBR2 Reed Events Limited Ordinary GBR2 Reed Exhibitions Limited Ordinary GBR2 RELX Finance Limited Ordinary GBR1 RELX Group plc 2 Ordinary GBR1 RELX (Holdings) Limited Ordinary GBR1 RELX (Investments) plc Ordinary GBR1 Reed Nominees Limited Ordinary GBR1 RELX Overseas Holdings Limited Ordinary GBR1 RELX (UK) Limited Ordinary GBR1 REV GP (UK) LLP (50%) Membership Interest GBR1 REV Venture Partners Limited Ordinary GBR1 REV V LP Partnership Interest GBR1 SciBite Limited Ordinary GBR6 Sustainable Energy Conferences Limited Ordinary GBR3 Tracesmart Limited Ordinary GBR4 ​ ​ ​ United States ​ ​ Accuity Asset Verification Services Inc. Common Stock USA1 American Textile Machinery Exhibition-International, Inc. (40%) Common Stock USA2 Aries Systems Corporation Common Stock USA2 Dunlap-Hanna Publishers (50%) Partnership Interest USA2 Elsevier Holdings Inc. Common Stock USA3 Elsevier Inc. Common Stock USA2 Elsevier STM Inc. Common Stock USA3 Enclarity, Inc. Common Stock USA1 Gaming Business Asia, LLC (50%) Membership Interest USA2 Health Market Science, Inc. Common Stock USA1 HumanAPI Inc. Common Stock USA1 ID Analytics, LLC Membership Interest USA1 Jarvis Software LLC Membership Interest USA2 Knovel Corporation Common Stock USA2 Knowable Inc Common Stock USA2 Legal InQuery Solutions Inc. Common Stock USA5 LexisNexis Claims Solutions Inc. Common Stock USA1 LexisNexis Coplogic Solutions Inc. Common Stock USA1 LexisNexis of Puerto Rico, Inc. Common Stock USA7 LexisNexis Risk Data Management, LLC Membership Interest USA1 LexisNexis Risk Holdings Inc. Common Stock USA1 LexisNexis Risk Solutions Inc. Common Stock USA1 LexisNexis Risk Solutions FL Inc. Common Stock USA1 LexisNexis Special Services Inc. Common Stock USA4 LexisNexis VitalChek Network Inc. Common Stock USA1 LNRS Data Services Inc. Common Stock USA1 Matthew Bender & Company, Inc. Common Stock USA2 MLex US, Inc. Common Stock USA2 PCLaw Time Matters LLC (51%) Membership Interest USA8 Portfolio Media, Inc. Common Stock USA2 Reed Technology and Information Services LLC Membership Interest USA2 RELX Capital Inc. Common Stock USA3 RELX Inc. Common Stock USA2 RELX Risks Inc. Common Stock USA6 ​ ​ ​ ​ 28 Related undertakings (continued) ​ ​ ​ Company name Share class Reg office United States ​ ​ REV IV Partnership LP Partnership Interest USA3 SAFI Americas LLC (50%) Membership Interest USA2 SageStream, LLC Membership Interest USA1 The Reed Elsevier Ventures 2011 Partnership LP Partnership Interest USA3 The Reed Elsevier Ventures 2013 Partnership LP Partnership Interest USA3 The Remick Publishers (50%) Partnership Interest USA2 ThreatMetrix, Inc. Common Stock USA1 World Compliance, Inc. Common Stock USA1 ​ ​ ​ Vietnam ​ ​ Reed Tradex Vietnam LLC Ordinary VIE1 ​ ​ ​ ​ ​ Registered offices Australia ​ AUS1: Building B, Level 2, Unit 11, 1 Maitland Place, Baulkham Hills, NSW 2153 AUS2: Tower 2, Level 1, 475 Victoria Avenue, Chatswood NSW 2067 ​ ​ Austria ​ AUT1: Messeplatz 1, 1020, Vienna AUT2: Trabrennstrasse 2A,1020, Vienna AUT3: Am Messezentrum 6, 5021, Salzburg AUT4: Nikolaus-Pytty-Gasse 9, 1140 Wien ​ ​ Belgium ​ BEL1: Oudenaardseheerweg 129, 9810 Nazareth BEL2: Moutstraat 64, bus 502, 9000 Ghent, Belgium ​ ​ Brazil ​ BRA1: Av. Almirante Barroso 81, Sala 33A114, 20031-004 Centro, Rio de Janeiro BRA2: Rua Bela Cintra no. 1200, 10th floor, Sao Paulo, 01415-002 BRA3: Avenida Paulista 2300, Andar Pilotis, Sao Paulo, SP 01 310-300 BRA4: Rua Funchal, 538, 4º Andar, Conj. 42, Salas 4, 5 e 6, Vila Olímpia, Sao Paulo, 04551-060 BRA5: Alameda Rio Negro, 161 Alphaville Industrial, Barueri, Sao Paulo 06.454-000 BRA6: Alameda Araguaia, Alphaville, Conjuntos 81-84, Centro Empresarial Araguaia, Barueri, Sao Paulo ​ 2104, 8-9 Andar ​ ​ Canada ​ CAN1: 111 Gordon Baker Road, Suite 900, Toronto, Ontario, M2H 3R1 CAN2: 26E-1501 av. McGill College, Montreal, Quebec, H3A 3N9 CAN3: 555 Richmond Street West, Suite 405, Toronto ON M5V 3B1 CAN4: 20th Floor, 250 Howe Street, Vancouver BC, V6C 3R8 CAN5: 199 Bay Street, 4000, Toronto, Ontario, M5L 1A9 ​ ​ China ​ CHN1: Zhongkun Building, Room 612, Gaoliangqiaoxie Street, No. 59, Haidan District, Beijing, 100044 CHN2: Room 516, 5th Floor, Building 22, Area 11, No. 38, Xueyuan Road, Haidian District, Beijing, 100191 CHN3: Oriental Plaza, No. 1 East Chang An Ave, Tower W1, 7th Floor, Unit 1-7, Dong Cheng District, Beijing, 100738 CHN4: Ping An International Finance Centre, Room 1504-1505, 15th Floor, Tower A-101, 3-24 Floor, Xinyuan South Road, Chaoyang District, Beijing, 100027 CHN5: Unit B1303-1 & 1305, 13F Center Plaza, 161 Linhe Road West, Tianhe District Guangzhou CHN6: Unit 303, 3F, Tower 3 Kerry Plaza ,No.1 Zhong Xin Si Road, Fu Tian District, Shenzhen CHN7: Unit A-1, 5th Floor, No. 567, Tianshan West Road, Changning District, Shanghai CHN8: Intercontinental Center, 42F, 100 Yutong Road, Zhabei District, Shanghai, 200070 CHN9: Room 319, 238 Jiangchangsan Road, Jing’an District, Shanghai CHN10: Room 1201, Yinhe Building, Yuexiu Road, Hexi District, Tianjin, 300201 CHN11: Building 2, Room No. 3895, Changjiang Avenue, No. 161, Changliang Farm, Chongming County, Shanghai CHN12: Floor 2, No.979, Yunhan Road, Nicheng Town, Pudong New District, Shanghai, 200000 CHN13: 4/F Block 3, No 999 Jingzhong Road, Changning District, Shanghai CHN14: A0208, 1st Floor, Building 2, Yard 66, Yanfu Road, Yancun Tow, Fangshan District, Beijing CHN15: 16 Donghuangchenggen North Street, Beijing, 100717 CHN16: Shenzhen International Chamber of Commerce Tower, Room 1801-1802, 1805, Fuhua 3rd Road, Futian District, Shenzhen, 518048 CHN17: 5/F Unit A, Digital China Centre No. 567 Tianshan West Road, ChangNing District, Shanghai, 200335 CHN18: Room 726, 1256-1258 Wan Rong Road, Jing An District, Shanghai CHN19: Oriental Plaza, No. 1 East Chang An Ave, Tower W1, 7th Floor, Unit 12C, Dong Cheng District, Beijing, 100738 ​ ​ Colombia ​ COL1: Philippe Prietocarrizosa & Uria Abogados, Carrera 9 No. 74-08 Oficina 105, Bogota, d.c., 76600 ​ ​ Denmark ​ DNK1: Niels Jernes Vej 10, 9220, Aalborg East ​ ​ Egypt ​ EGY1: Land Mark Office Building, 2nd Floor, 90th Street, City Center, 5th Settlement, New Cairo, Cairo 28 Related undertakings (continued) ​ ​ Registered offices France ​ FRA1: 65 Rue Camille Desmoulins, 92130, Issy les Moulineaux FRA2: 141 rue de Javel, 75015, Paris FRA3: 52 Quai de Dion Bouton, 92800, Puteaux FRA4: Immeuble Technopolis, 350 rue Georges Besse, 30000, Nimes FRA5: 6-8 rue Chaptal, 75009, Paris FRA6: Immeuble Vivacity, 151-155 rue de Bercy, 75012, Paris ​ ​ Germany ​ DEU1: Volklinger Strasse 4, 40219, Dusseldorf DEU2: Bernhard-Wicki-Strasse 3/5 80636 München DEU3: Heerdter Sandberg 30, 40549, Dusseldorf DEU4: Stephanienstrasse 86, 76133 Karlsruhe DEU5: Joseph-Schumpeter-Allee 33, 53227, Bonn DEU6: Ohlauer Str. 43, Aufgang C, c/o Thunderbolt Collective, 10999, Berlin DEU7: Johannstrasse 1, 40476 Düsseldorf ​ ​ Hong Kong ​ HNK1: Room 1917, 19/F, Lee Garden One, 33 Hysan Avenue, Causeway Bay HNK2: 1505,15th Floor, Tower A, Ping An International Finance Center HNK3: 11/F Oxford House, Taikoo Place, 979 King’s Road, Quarry Bay HNK4: 17th Floor, One Island East, Taikoo Place, 18 Westlands Road, Quarry Bay ​ ​ India ​ IND1: 818, 8th Floor, Indraprakash Building, 21 Barakhamba Road, New Delhi, Delhi, 110001 IND2: Ascendas International Tech Park, Crest Building 12th Floor, Taramani Road, Taramani, Chennai, 600113 ​ ​ Indonesia ​ IDN1: APL Tower Central Park 26th Floor Unit T3 Jl. S. Parman Kav., 28, Grogol, Pertamburan Jakarta Barat 11470 IDN2: Gedung World Trade Center, 3 Lt. 20 Spaces JL Jend Sudirman Kav 29-31, Karet Kuningan, Setiabudi,Kota Adm. Jakarta Selatan, DKI Jakarta 12940 ​ ​ Irish Republic IRL1: Riverside One, Sir John Rogerson’s Quay, Dublin 2, DO2 X576 IRL2: 4th Floor, South Block, Rockfield Central, Dundrum, Dublin, D16 R6VO ​ ​ Israel ​ ISR1: Meitar, Attorneys at Law, 16 Abba Hillel Road, Ramat Gan 5250608 ​ ​ ​ Italy ​ ITA1: Via Marostica 1, 20146, Milan ITA2: Studio Colombo e Associati, Via San Damiano 9, 20122, Milan ​ ​ Japan ​ JPN1: 1-9-15 Higashi-Azabu, Minato-Ku Tokyo 106-0044 JPN2: 11F, Yaesu Central Tower, Tokyo Midtown Yaesu, 2-2-1 Yaesu Chuo-ku, Tokyo 104-0028 ​ ​ Kingdom of Saudi Arabia KSA1: Riyadh, Financial Boulevard 13519, Al Aqeeq District ​ ​ Korea (Republic of) KOR1: 206 Noksapyeong-daero, Yongsan-gu, 140-861, Seoul KOR2: 1622-24 Block A, Tera Tower II, 201 Songpa-daero, Songpa-gu, Seoul KOR3: Story 2003 Bldg, 5, Baekjegobun-ro 9-gil, Songpa-gu, Seoul, 05561, Republic of Korea KOR4: 1602-03 Block A, Tera Tower II, 201 Songpa-daero, Songpa-gu, Seoul, Korea ​ ​ Macau ​ MAC1: Rua De Xangai, No. 175 Edif. Associacao Comercial de Macau, 11 Andar, Bloco K ​ ​ Malaysia ​ MYS1: Suite 29-1, Level 29, Vertical Corporate, Tower B, Avenue 10, The Vertical, 59200 Bangsar South City, Kuala Lumpur Mexico ​ MEX1: Avenida Paseo de la Reforma 243, Piso 15, Col. Cuauhtemoc, Mexico City, 06500 MEX2: Av. Miguel Hidalgo y Costilla 1995, piso 6 oficina 10 , Ladron de Guevara, Guadalajara, Jalisco, 44600 ​ ​ Netherlands ​ NLD1: Radarweg 29, 1043 NX Amsterdam NLD2: Hanzestraat 1, 7006RH Doetinchem ​ ​ ​ ​ ​ Registered offices New Zealand ​ NZL1: Level 1, 138 The Terrace, P.O. Box 472, Wellington 6011 ​ ​ Philippines ​ PHL1: Building H, 2nd Floor, U.P. Ayalaland TechnoHub, Commonwealth Avenue, Quezon City, Metro Manila, 1101 ​ ​ Poland ​ POL1: Plac Grunwaldzki 23-27, 50-365 Wroclaw POL2: Al. JJana Pawla II, 22, 00-133, Warszawa ​ ​ Singapore ​ SGP1: 3 Killiney Road, #08-01, Winsland House 1, 239519 SGP2: 9 Raffles Place, #26-01, Republic Plaza, 048619 ​ ​ South Africa ​ ZAF1: Building 8, Country Club Estate Office Park, 21 Woodlands Drive, Woodmead, Gauteng, 2191 ​ ​ Spain ​ ESP1: C/ Josep Tarradellas 20-30, 1º / 20029, Barcelona ​ ​ Sweden ​ SWE1: Aurorum 8, 977 75 Lulea ​ ​ Taiwan ​ TWN1: RM. N905, 9F., No. 96, Sec. 2, Zhongshan N. Rd., Zhongshan Dist, Taipei, 10449 ​ ​ Thailand ​ THA1: Sathorn Nakorn Building, Floor 32, No. 100/68-69 North Sathon Road, Silom, Bangrak, Bangkok, 10500 THA2: 14th Floor, CTI Tower, 191/70-73 Ratchadapisek Road, Khwaeng Klongtoey, Klongtoey, Bangkok, 10110 THA3: The Offices at Central World, Office R06, 999/9 Rama I Road, Pathumwan, Bangkok 10330 ​ ​ Turkey ​ TUR1: Maslak Mah. Bilim Sokak Sun Plaza Kat:13 Sisli-Maslak, Istanbul TUR2: Tuyap Fuar ve Kongre Merkezi, Cumhuriyet Mah. Hadimkoy Yolu Cad. No:9/4 , 34500 Buyukcekmece, Istanbul ​ ​ United Arab Emirates UAE1: Office 303, 3rd Floor Arjaan Office Tower Al Sufouh Complex, PO Box 502425, Dubai Media City, Dubai UAE2: Al Sufouh Complex, Office nos. 404, 405, 406 & 407, Dubai Media City, Dubai ​ ​ United Kingdom ​ GBR1: 1-3 Strand, London, WC2N 5JR GBR2: Gateway House, 28 The Quadrant, Richmond, Surrey, TW9 1DN GBR3: Lexis House, 30 Farringdon Street, London, EC4A 4HH GBR4: Global Reach, Dunleavy Drive, Cardiff, CF11 0SN GBR5: 125 London Wall, London, EC2Y 5AS GBR6: Biodata Innovation Centre Wellcome Genome Campus, Hinxton, Cambridge, CB10 1DR ​ ​ United States ​ USA1: 1000 Alderman Dr., Alpharetta, GA 30005 USA2: 230 Park Ave, New York, NY 10169 USA3: Suite 501, 1105 North Market St, Wilmington, DE 19801 USA4: 1150 18th St, NW, Washington, DC 20036 USA5: 9443 Springboro Pike, Miamisburg, OH 45342 USA6: c/o Aon Insurance Managers (USA) Inc, 100 Bank Street, Suite 630 Burlington, Vermont 05401 USA7: #1095 Wilson, Ste 3, San Juan, PR 00907 USA8: 2235 Gateway Access Point, Suite 300, Raleigh, NC, 27607 ​ ​ Vietnam ​ VIE1: 2nd Floor, Kova Center, 92G-92H Nguyen Huu Canh Street, Ward no. 22, District. Binh Thanh, Ho Chi Minh City ​ ​ 1 ​ Nominee companies controlled by the group based on management's assessments ​ ​ 2 ​ Directly held by the Company ​ 28 Related undertakings (continued) ​ The following UK subsidiaries will take advantage of the audit exemption set out within Section 479A of the Companies Act 2006 supported by guarantees issued by RELX PLC over their liabilities for the year ended 31 December 2024. ​ ​ ​ Company name Registration number Aistemos Limited 08644182 Butterworths Limited 02826955 Cordery Compliance Limited 07931532 Crediva Limited 06567484 Interfolio UK Ltd (in dissolution) 07820803 LNRS Data Services Holdings Limited 00052790 Mack-Brooks Exhibitions Limited 00967560 MLex Limited 05488651 Offshore Europe (Management) Limited 02318214 RE (HPL) Limited 00598514 RE (RCB) Limited 03396524 RE (SOE) Limited 02330299 Reed Events Limited 05893942 Reed Nominees Limited (in dissolution) 00251020 RELX (Holdings) Limited 05807690 RELX (Investments) plc 05810043 RELX Overseas Holdings Limited 09489059 REV Venture Partners Limited 04226986 SciBite Limited 07778456 Sustainable Energy Conferences Limited 12157497 Tracesmart Limited 03827062 ​

5 year summary

5 year summary	12 Months Ended
	Dec. 31, 2024
5 year summary
5 year summary	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 GBPm ​ ​ 2021 GBPm ​ ​ 2022 GBPm ​ ​ 2023 GBPm ​ ​ 2024 GBPm ​ RELX consolidated financial information ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Growth rates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Underlying revenue growth ​ ​ -9% ​ ​ +7% ​ ​ +9% ​ ​ +8% ​ ​ +7% ​ Underlying adjusted operating profit growth ​ ​ -18% ​ ​ +13% ​ ​ +15% ​ ​ +13% ​ ​ +10% ​ Adjusted earnings per share growth (at constant currency) ​ ​ -15% ​ ​ +17% ​ ​ +10% ​ ​ +11% ​ ​ +9% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted figures ¹ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue ​ ​ 7,110 ​ ​ 7,244 ​ ​ 8,553 ​ ​ 9,161 ​ ​ 9,434 ​ EBITDA ​ ​ 2,567 ​ ​ 2,697 ​ ​ 3,174 ​ ​ 3,544 ​ ​ 3,724 ​ Operating profit ​ ​ 2,076 ​ ​ 2,210 ​ ​ 2,683 ​ ​ 3,030 ​ ​ 3,199 ​ Operating margin ​ ​ 29.2% ​ ​ 30.5% ​ ​ 31.4% ​ ​ 33.1% ​ ​ 33.9% ​ Profit before tax ​ ​ 1,916 ​ ​ 2,077 ​ ​ 2,489 ​ ​ 2,716 ​ ​ 2,903 ​ Net profit attributable to shareholders ​ ​ 1,543 ​ ​ 1,689 ​ ​ 1,961 ​ ​ 2,156 ​ ​ 2,241 ​ Net margin ​ ​ 21.7% ​ ​ 23.3% ​ ​ 22.9% ​ ​ 23.5% ​ ​ 23.8% ​ Cash flow ​ ​ 2,009 ​ ​ 2,230 ​ ​ 2,709 ​ ​ 2,962 ​ ​ 3,101 ​ Cash flow conversion ​ ​ 97% ​ ​ 101% ​ ​ 101% ​ ​ 98% ​ ​ 97% ​ Return on invested capital ​ ​ 10.8% ​ ​ 11.9% ​ ​ 12.5% ​ ​ 14.0% ​ ​ 14.8% ​ Earnings per share ​ ​ 80.1p ​ ​ 87.6p ​ ​ 102.2p ​ ​ 114.0p ​ ​ 120.1p ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividend ² ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ordinary dividend per share ​ ​ 47.0p ​ ​ 49.8p ​ ​ 54.6p ​ ​ 58.8p ​ ​ 63.0p ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reported figures ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue ​ 7,110 ​ ​ 7,244 ​ ​ 8,553 ​ ​ 9,161 ​ ​ 9,434 ​ Operating profit ​ 1,525 ​ ​ 1,884 ​ ​ 2,323 ​ ​ 2,682 ​ ​ 2,861 ​ Profit before tax ​ ​ 1,483 ​ ​ 1,797 ​ ​ 2,113 ​ ​ 2,295 ​ ​ 2,557 ​ Net profit attributable to shareholders ​ 1,224 ​ ​ 1,471 ​ ​ 1,634 ​ ​ 1,781 ​ ​ 1,934 ​ Net margin ​ ​ 17.2% ​ ​ 20.3% ​ ​ 19.1% ​ ​ 19.4% ​ ​ 20.5% ​ Net debt ​ ​ 6,898 ​ ​ 6,017 ​ ​ 6,604 ​ ​ 6,446 ​ ​ 6,563 ​ Earnings per share (pence) ​ 63.5p ​ ​ 76.3p ​ ​ 85.2p ​ ​ 94.1p ​ ​ 103.6p ​ (1) Adjusted figures are presented as additional performance measures used by management. Further details on the adjusted measures can be found in the Alternative performance measures section on pages 200 to 207. (2) Dividend per ordinary share is based on the interim dividend and proposed final dividend for the relevant year.

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	RELX takes measures to assess, identify, and manage material risks from cybersecurity threats, including the following: ● We have established security programmes which are constantly reviewed and updated to address developments in the threat landscape with the aim of ensuring our ability to prevent, respond to and recover from a cybersecurity attack, that data is protected and our business infrastructures continue to operate. ● We have governance mechanisms in place to design and monitor common policies and standards across our businesses. ● We invest in appropriate technological and physical controls which are applied across the enterprise in a risk-based security programme which operates at the infrastructure, application, and user levels. These controls include, but are not limited to, infrastructure vulnerability management, application scanning and penetration testing, network segmentation, encryption and logging and monitoring. ● We provide regular training and communication initiatives to establish and maintain awareness of risks at all levels of our businesses. ● We have appropriate incident response plans to respond to threats and attacks which include procedures to recover and restore data and applications in the event of an attack. ● We maintain appropriate information security policies and contractual requirements for our businesses and run programmes monitoring the application of our data security and resilience policies by third-party service providers. ● We use independent internal and third-party auditors to test, evaluate, and help enhance our procedures and controls. ● We continuously monitor the global regulatory landscape to identify emerging cybersecurity, data protection and privacy laws, and, as needed, create implementation plans to comply with them. ● We procure appropriate cybersecurity insurance to mitigate the potential losses arising from a cybersecurity incident. RELX has a well-embedded risk management framework based on the Internal Control-Integrated Framework (2013) by the Committee of Sponsoring Organisations of the Treadway Commission (COSO). Through this framework, risks are identified, assessed, mitigated, and monitored in an effective and consistent way across its businesses. RELX uses the 3 Lines of Defence model and aligns its risk management and internal control systems with the COSO framework. Business Areas maintain risk management and internal control systems which are appropriate to the nature and scale of their activities and address all significant strategic, operational, financial, cybersecurity, legal, regulatory compliance, and reputational risks that they face. RELX risk management is integrated in the management of the business, with a robust semiannual risk assessment process in place and overseen by the Head of Group Insurance and Risk. The approach is designed to ensure a high level of awareness on risk matters, including emerging risks, thorough identification of risks, and consideration of appropriate mitigating controls including an evaluation of their effectiveness. Every business unit of significance and each corporate function within RELX is part of this process. Internal Audit and Assurance (IAA) performs internal audits and assesses the effectiveness of controls and management responsiveness to identified risks. Prioritisation of audits on the audit plan are informed by the risk assessment. The audit findings and required remediation are documented for key stakeholders and reported to and discussed with the RELX PLC Audit Committee. The cybersecurity risk framework aligns with and feeds into the enterprise risk management framework. Specifically, the RELX Information Security Council (ISC), chaired by the Head of Information Assurance and Data Protection, has established and integrated processes to measure risk in each RELX business using qualitative and quantitative measures, including the factoring of industry risk events, attacks on RELX systems, and the investigation, remediation, and cost of incidents within each business. The risk assessment results drive future cybersecurity programme priorities within RELX and its businesses. In support of these measures, RELX has built skilled cybersecurity teams. Members of the RELX cybersecurity teams have extensive experience and maintain industry certifications such as the Certified Information Systems Security Professional (CISSP), Certified Information Security Manager (CISM), Certified Ethical Hacker (CEH), The SANS Institute Global Information Assurance Certification (SANS GIAC), Certified Information Privacy Professional (CIPP), and Certified Information Security Auditor (CISA). As noted above, the Company from time to time engages with independent consultants and auditors to assess distinct elements of its cybersecurity program, including a biennial third-party audit of products and services which incorporate sensitive personally identifiable information. The Company also periodically completes ISO 27001 certifications, SOC 2 audit reports, and NIST Cyber Security Framework assessments for its businesses. In further support of its cybersecurity programme, the Company regularly engages independent researchers and penetration testers; and implements bug bounty programmes to proactively identity potential vulnerabilities and further mitigate risk. The Company has defined and implemented a Third Party Provider Policy that includes the assessment of cybersecurity risk from third-party service providers (suppliers) ; the evaluation of such risk using industry standard criteria such as audit reports, certifications, and interviews; the mitigation or acceptance by management of residual risk from the engagement of the supplier; and periodic re-assessments of the supplier. The Company has established business continuity plans pursuant to a comprehensive business continuity programme aimed at reducing disruption in the event of a significant cybersecurity failure by a supplier. The Company additionally uses threat intelligence services to identify suppliers that have had significant cybersecurity incidents and ensures that the supplier has appropriately mitigated the root causes of that incident. The Company has also established a formal supplier resilience programme to identify and manage critical suppliers across the business. The Company includes cybersecurity contractual provisions with suppliers to address prevention, detection, notice obligations, communication protocols, and recovery steps. For a description of how risks from cybersecurity threats could materially affect RELX, including its business strategy, results of operations or financial condition, see “Item 3: Key Information—Risk Factors—Compromises of our cyber security systems and other unauthorised access to our databases, could adversely affect our business and operations” which is incorporated by reference into this Item 16K.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	RELX risk management is integrated in the management of the business, with a robust semiannual risk assessment process in place and overseen by the Head of Group Insurance and Risk. The approach is designed to ensure a high level of awareness on risk matters, including emerging risks, thorough identification of risks, and consideration of appropriate mitigating controls including an evaluation of their effectiveness. Every business unit of significance and each corporate function within RELX is part of this process. Internal Audit and Assurance (IAA) performs internal audits and assesses the effectiveness of controls and management responsiveness to identified risks. Prioritisation of audits on the audit plan are informed by the risk assessment. The audit findings and required remediation are documented for key stakeholders and reported to and discussed with the RELX PLC Audit Committee. The cybersecurity risk framework aligns with and feeds into the enterprise risk management framework. Specifically, the RELX Information Security Council (ISC), chaired by the Head of Information Assurance and Data Protection, has established and integrated processes to measure risk in each RELX business using qualitative and quantitative measures, including the factoring of industry risk events, attacks on RELX systems, and the investigation, remediation, and cost of incidents within each business. The risk assessment results drive future cybersecurity programme priorities within RELX and its businesses.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]	For a description of how risks from cybersecurity threats could materially affect RELX, including its business strategy, results of operations or financial condition, see “Item 3: Key Information—Risk Factors—Compromises of our cyber security systems and other unauthorised access to our databases, could adversely affect our business and operations” which is incorporated by reference into this Item 16K.
Cybersecurity Risk Board of Directors Oversight [Text Block]	The RELX PLC Board monitors the internal control and risk management systems and performs an annual assessment of their effectiveness. With respect to cybersecurity: ● The Head of Information Assurance & Data Protection updates the RELX Board of Directors semiannually on the state of the Company’s cybersecurity program. These updates consist of, but are not limited to, a discussion of the industry threat landscape and implications for the Company; an explanation of the current cybersecurity risk assessment for the Company; a description of key incidents, lessons learned, and new initiatives in the reporting period; a summary of key operational metrics; and focus areas and initiatives to mitigate current and future cybersecurity threats for the Company. ​ ● The CTO Forum, defined below, updates the RELX Board of Directors annually, primarily on technology which includes key cybersecurity implications of technology projects. In addition, as noted above, the RELX PLC Audit Committee receives and discusses the IAA’s audit findings, which may include cybersecurity matters. The Chief Legal Officer and Company Secretary (CLO) and the Chief Financial Officer (CFO) are the senior management members who have primary responsibility for assessing and managing cybersecurity risks. As such, the Company’s risk assessment, internal audit, information assurance, and incident response organisations report into either the CLO or CFO. The CLO and CFO determine whether an incident is sufficiently serious to require public disclosure. The Company has established three cross-functional senior-level forums which further coordinate governance over the technology which supports the mitigation of cybersecurity risks: the ISC, the RELX Technology Forum (CTO Forum), and the Security Governing Committee (SGC). Additionally, the RELX Head of Information Assurance & Data Protection periodically updates the CLO, CFO, and other senior management members on cybersecurity risks. ISC ​ The ISC comprises the RELX Head of Information Assurance & Data Protection (Chair) and the Chief Information Security Officer (CISO) from each of the RELX divisions - Risk, Scientific, Technical & Medical, Legal, and Exhibitions. ISC members have extensive experience in cybersecurity and contribute extensively to industry cybersecurity threat sharing groups such as FS-ISAC. They have published and spoken extensively on relevant topics at industry events such as RSAC USA and FS-ISAC FinCyber Today and in industry journals published by the International Systems Security Association (ISSA), Directors & Boards magazine, the International Association of Privacy Professionals (IAPP) and the Institute of Electrical and Electronics Engineers IEEE. The ISC, among other functions: ● oversees the development of the RELX cybersecurity strategy; ● liaises with management and operations across the Company to align cybersecurity objectives with the risk assessment, risk profile, and current and future business needs; ● assesses, communicates, and advises on the cybersecurity risks to the Company including on the use of legacy systems, emerging technologies, and industry threats; ● inventories cybersecurity risks and controls in place, and recommends the implementation of mitigating controls; ● performs the semiannual cybersecurity risk assessment for the Company, including third party service providers, and communicates the cybersecurity risk assessment results to RELX senior management, including the CEOs of each of the RELX business areas; and ● reviews cybersecurity trends, incidents, and lessons learned on a regular basis. The escalation points for the ISC are the CTO Forum and the SGC. CTO Forum ​ The CTO Forum comprises the Chief Technology Officer of each RELX business area and RELX’s Chief Strategy Officer. The current Chair of the CTO Forum is the Chief Technology Officer of the Risk business. He was previously Vice President of Technology, LexisNexis Insurance Solutions and has also held technology executive positions at ChoicePoint, Paragon Solutions, Primus Knowledge Solutions, and McKesson. He holds a bachelor’s degree in electrical and electronics engineering from the Birla Institute of Technology and Science, Pilani, a master’s degree in cybersecurity from the Georgia Institute of Technology, and completed an advanced management programme for executives at MIT Sloan School of Management. The CTO Forum focuses on technology and cybersecurity strategy, talent, and cross-business collaboration on these issues. The CTO Forum requests and receives regular updates on responsibilities such as cybersecurity issues, technology talent acquisition, procurement, and critical suppliers. It receives regular cybersecurity governance, operations, and incident management updates from the Chair of the ISC, and annual briefings on the state of cybersecurity from the entire ISC. SGC The SGC comprises RELX’s Chief Legal Officer (Chair), Chief Counsel, Intellectual Property, Technology and Procurement, Chief Strategy Officer, Chair of the CTO Forum, and the Chair of the ISC. The primary governance function of the SGC is to review overall cybersecurity strategy and serve as a point of escalation for cybersecurity programme resource allocation and project prioritisation decisions. The SGC receives regular briefings on the same topics as the CTO Forum, as well as risk assessments and project updates on non-technology related cybersecurity risks, such as business processes for incident response and verification programmes for customer access to sensitive data; and adjacent risks, such as compliance. ​
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The audit findings and required remediation are documented for key stakeholders and reported to and discussed with the RELX PLC Audit Committee. In addition, as noted above, the RELX PLC Audit Committee receives and discusses the IAA’s audit findings, which may include cybersecurity matters.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The audit findings and required remediation are documented for key stakeholders and reported to and discussed with the RELX PLC Audit Committee. ● The Head of Information Assurance & Data Protection updates the RELX Board of Directors semiannually on the state of the Company’s cybersecurity program. These updates consist of, but are not limited to, a discussion of the industry threat landscape and implications for the Company; an explanation of the current cybersecurity risk assessment for the Company; a description of key incidents, lessons learned, and new initiatives in the reporting period; a summary of key operational metrics; and focus areas and initiatives to mitigate current and future cybersecurity threats for the Company. ​ ● The CTO Forum, defined below, updates the RELX Board of Directors annually, primarily on technology which includes key cybersecurity implications of technology projects. In addition, as noted above, the RELX PLC Audit Committee receives and discusses the IAA’s audit findings, which may include cybersecurity matters.
Cybersecurity Risk Role of Management [Text Block]	In addition, as noted above, the RELX PLC Audit Committee receives and discusses the IAA’s audit findings, which may include cybersecurity matters. The Chief Legal Officer and Company Secretary (CLO) and the Chief Financial Officer (CFO) are the senior management members who have primary responsibility for assessing and managing cybersecurity risks. As such, the Company’s risk assessment, internal audit, information assurance, and incident response organisations report into either the CLO or CFO. The CLO and CFO determine whether an incident is sufficiently serious to require public disclosure.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Chief Legal Officer and Company Secretary (CLO) and the Chief Financial Officer (CFO) are the senior management members who have primary responsibility for assessing and managing cybersecurity risks. The ISC comprises the RELX Head of Information Assurance & Data Protection (Chair) and the Chief Information Security Officer (CISO) from each of the RELX divisions - Risk, Scientific, Technical & Medical, Legal, and Exhibitions. The CTO Forum comprises the Chief Technology Officer of each RELX business area and RELX’s Chief Strategy Officer. The SGC comprises RELX’s Chief Legal Officer (Chair), Chief Counsel, Intellectual Property, Technology and Procurement, Chief Strategy Officer, Chair of the CTO Forum, and the Chair of the ISC.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	ISC members have extensive experience in cybersecurity and contribute extensively to industry cybersecurity threat sharing groups such as FS-ISAC. They have published and spoken extensively on relevant topics at industry events such as RSAC USA and FS-ISAC FinCyber Today and in industry journals published by the International Systems Security Association (ISSA), Directors & Boards magazine, the International Association of Privacy Professionals (IAPP) and the Institute of Electrical and Electronics Engineers IEEE.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	As such, the Company’s risk assessment, internal audit, information assurance, and incident response organisations report into either the CLO or CFO. Additionally, the RELX Head of Information Assurance & Data Protection periodically updates the CLO, CFO, and other senior management members on cybersecurity risks. The ISC, among other functions: performs the semiannual cybersecurity risk assessment for the Company, including third party service providers, and communicates the cybersecurity risk assessment results to RELX senior management, including the CEOs of each of the RELX business areas; The CTO Forum requests and receives regular updates on responsibilities such as cybersecurity issues, technology talent acquisition, procurement, and critical suppliers. It receives regular cybersecurity governance, operations, and incident management updates from the Chair of the ISC, and annual briefings on the state of cybersecurity from the entire ISC.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Basis of preparation and acco_2

Basis of preparation and accounting policies (Policies)	12 Months Ended
	Dec. 31, 2024
Basis of preparation and accounting policies
Basis of preparation	Basis of preparation The shares of RELX PLC are traded on the London, Amsterdam and New York stock exchanges. RELX PLC and its subsidiaries, joint ventures and associates are together known as ‘RELX’. In preparing the consolidated financial statements, subsidiaries are accounted for under the acquisition method and investments in joint ventures and associates are accounted for under the equity method. All intra-group transactions and balances are eliminated. On acquisition of a subsidiary, or interest in a joint venture or associate, fair values, reflecting conditions at the date of acquisition, are attributed to the net assets, including identifiable intangible assets acquired. Adjustments are made to bring accounting policies into line with those of the Group. The results of subsidiaries sold or acquired are included in the consolidated financial statements up to or from the date that control passes from or to the Group. Non-controlling interests in the net assets of the Group are identified separately from shareholders’ equity. Non-controlling interests consist of the amount of those interests at the date of the original acquisition and the non-controlling share of changes in equity since the date of acquisition. Acquisition of non-controlling interests represents the acquisition of minority interest holdings in subsidiaries already controlled by the Group. The directors of RELX PLC, having made appropriate enquiries, consider that adequate resources exist for the Group to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt the going concern basis in preparing the consolidated financial information for the year ended 31 December 2024. As part of the going concern assessment the directors considered the sufficiency of the Group’s liquidity resources, including committed credit facilities, over the 18 month period to 30 June 2026. Please refer to page 79 for further disclosure in respect of going concern. In preparing the Group financial statements management has considered the impact of climate change, taking into account the relevant disclosures in the Strategic Report, including those made in accordance with the recommendations of the Taskforce on Climate-related Financial Disclosure. This included an assessment of assets with indefinite and long lives and how they could be impacted by measures taken to address global warming. Recognising that the Group's operations, and the use of the Group's products, have a relatively low environmental impact, no issues were identified that would impact the carrying values of such assets or have any other material impact on the financial statements.
Accounting policies	Accounting policies The Group’s consolidated financial statements are prepared in accordance with UK adopted International Accounting Standards
Foreign exchange translation	Foreign exchange translation The consolidated financial statements are presented in pound sterling. Unless otherwise stated, all amounts in the financial statements are in millions of pounds. Differences in subtotals in the financial statements may arise due to rounding adjustments applied during calculations. The symbols GBP and £ used throughout the financial statements relate to pound sterling. Summary consolidated financial information presented on pages 198 and 199 shows a simple translation of the Group’s consolidated financial statements into US dollars and euros respectively and do not form part of these financial statements. Transactions in foreign currencies are recorded at the rate of exchange prevailing on the date of the transaction. Non-monetary assets and liabilities that are measured at historical cost in foreign currencies are translated using the exchange rate at the date of the transaction. At each statement of financial position date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rate prevailing on the statement of financial position date. Exchange differences arising are recorded in the income statement other than where hedge accounting applies, as set out on pages 169 to 175. Assets and liabilities of foreign operations are translated at exchange rates prevailing on the statement of financial position date. Income and expense items and cash flows of foreign operations are translated at the average exchange rate for the period. Significant individual items of income and expense and cash flows in foreign operations are translated at the rate prevailing on the date of transaction. Exchange differences arising are classified as equity and transferred to the translation reserve. When foreign operations are disposed of, the related cumulative translation differences are recognised within the income statement in the period. The Group uses derivative financial instruments, primarily forward contracts, to hedge its exposure to certain foreign exchange risks. Details of the Group’s accounting policies in respect of derivative financial instruments are set out on page 169.
Critical judgements and key sources of estimation uncertainty	Critical judgements and key sources of estimation uncertainty The preparation of financial statements requires management to make judgements and estimates in the application of accounting policies used to report the financial position, results and cash flows of the Group. The actual outcome may differ to these estimates. The critical judgements and key sources of estimation uncertainty are summarised below. Key sources of estimation uncertainty are significant accounting estimates with a significant risk of a material change to the carrying value of assets and liabilities within the next year. Further detail is provided in the notes to the financial statements as referenced. Critical judgements ■ Capitalisation of development spend: assessing the potential value of a development project, determining the costs which are eligible for capitalisation and the selection of appropriate asset lives (see note 14) Key sources of estimation uncertainty ■ Defined benefit pension obligation: determining an appropriate rate at which the future pension payments are discounted, mortality and inflation assumptions (see note 6) ​ 1 Basis of preparation and accounting policies (continued) Other areas of judgement and accounting estimates The consolidated financial statements include other areas of judgement and accounting estimates. These include: ■ Taxation: The valuation of provisions related to uncertain tax positions involves estimation (see note 9) ■ value in use of the businesses (see note 14) ■ Acquired intangible assets: Judgement is involved in identification of separate intangible assets on acquisition and estimation
Standards and amendments effective for the year	Standards and amendments effective for the year The following accounting standards and amendments were adopted during the year and had no significant impact on the Group’s accounting policies or reporting: ■ Presentation of Financial Statements ■ Presentation of Financial Statements ■ Leases ■ Statement of Cash Flows Financial Instruments – Disclosures
Standards, amendments and interpretations not yet effective	Standards, amendments and interpretations not yet effective The following amendments and interpretations will become effective for the 2025 financial year. These are not expected to have a significant impact on the accounting policies and reporting: ■ The Effects of Changes in Foreign Exchange Rates – ■ IFRS 18 – Presentation and Disclosure in Financial Statements ​
Revenue, operating profit and segment analysis	​ Accounting policy The Group’s reported segments are based on the internal reporting structure and financial information provided to the Board. Adjusted operating profit is the key segmental profit measure used by the Group in assessing performance. Adjusted operating profit is reconciled to operating profit on page 149. Revenue arises from the provision of products and services under contracts with customers. In all cases, revenue is recognised to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services, and is recognised when the customer obtains control of the goods or service. Revenue is stated at the transaction price, which includes allowance for anticipated discounts and returns and excludes customer sales taxes and other amounts to be collected on behalf of third-parties. Where the goods or services promised within a contract are distinct, they are identified as separate performance obligations and are accounted for separately. Where separate performance obligations are identified, total revenue is allocated on the basis of relative standalone selling prices or management’s best estimate of relative value where standalone selling prices do not exist. Management estimates may include a cost-plus method or comparable product approach, but must be supported by objective evidence. A residual approach may be applied where it is not possible to derive a reliable management estimate for a specific component. Our subscription and exhibition related revenue streams generally require payment in advance of the service being provided. Payment terms offered to customers are in line with the standard in the markets and geographies we operate in, and contracts do not contain significant financing components. Contracts for our transactional electronic revenue streams generally have payments that vary with volume of usage. Other than that, our contracts do not involve variable consideration. Revenue is recognised for the various categories as follows: ■ Subscriptions – revenue comprises income derived from the periodic distribution or update of a product. Subscription revenue is generally invoiced in advance and recognised systematically over the period of the subscription. Recognition period of time; or based on the value received by the customer where the goods and services are not delivered in a consistent manner ■ Transactional – revenue is recognised when control of the product is passed to the customer or the service has been performed. For exhibitions, revenue primarily comprises income from exhibitors and attendees at exhibitions. Exhibition revenue is recognised on occurrence of the exhibition
Share based remuneration	​ ​ ​ ​ Accounting policy Share based remuneration The fair value of share based remuneration is determined at the date of grant and recognised as an expense in the income statement on a straight-line basis over the vesting period, taking account of the estimated number of shares that are expected to vest. Market based performance criteria are taken into account when determining the fair value at the date of grant.
Pension schemes	​ ​ ​ ​ ​ ​ ​ ​ Accounting policy The expense of defined benefit pension schemes and other post-retirement employee benefits is determined using the projected unit credit method and charged in the income statement as an operating expense, based on actuarial assumptions reflecting market conditions at the beginning of the financial year. Actuarial gains and losses are recognised in full in the statement of comprehensive income in the period in which they occur. Past service costs and credits are recognised immediately at the earlier of when plan amendments or curtailments occur and when related restructuring costs or termination benefits are recognised. Settlements are recognised when they occur. Net pension obligations in respect of defined benefit schemes are included in the statement of financial position at the present value of scheme liabilities, less the fair value of scheme assets. Where schemes are in surplus, i.e. assets exceed liabilities, the net pension assets are separately included in the statement of financial position. Any net pension asset is limited to the extent that the asset is recoverable. The expense of defined contribution pension schemes and other employee benefits is charged in the income statement as incurred. At 31 December 2024, the Group operates defined benefit pension schemes in the UK and the US. These schemes require management to exercise judgement in: estimating the ultimate cost of providing post-employment benefits, especially given the length of each scheme’s liabilities and; for funded schemes in an accounting surplus position, whether the surplus can be recognised. Key source of estimation uncertainty Accounting for defined benefit pension schemes involves judgement and estimation about uncertain events, including the life expectancy of the members, inflation and the rate at which the future pension payments are discounted. Estimates for these factors are used in determining the pension cost and liabilities reported in the financial statements. The estimates made around future developments of each of the critical assumptions are made in conjunction with independent actuaries. Each scheme is subject to a periodic review by independent actuaries. The discount rate, inflation rate and mortality assumptions may have a material effect in determining the defined benefit pension obligation and costs which are reported in the financial statements. Information regarding the more significant assumptions used for valuation is provided below, together with a sensitivity analysis.
Borrowing costs	​ ​ ​ Accounting policy Interest on borrowings is expensed as incurred. The cost of issuing borrowings is generally expensed over the period of borrowing to produce a constant periodic rate of charge.
Assets and liabilities held for sale	​ ​ ​ Accounting policy Assets of businesses that are available for immediate sale in their current condition and for which a sales process is considered highly probable to complete are classified as assets held for sale and are carried at the lower of carrying value and fair value less costs to sell. Fair value is based on anticipated disposal proceeds, typically derived from firm or indicative offers from potential acquirers. Non-current assets are not amortised or depreciated following their classification as held for sale. Liabilities of businesses held for sale are also separately classified on the statement of financial position. Fair value movements in the venture capital portfolio are reported within disposals and other items. See note 15 for further details.
Taxation	​ Accounting policy Tax expense comprises current and deferred tax. Current and deferred tax are charged or credited in the income statement except to the extent that the tax arises from a transaction or event which is recognised, in the same or a different period, outside the income statement (either in other comprehensive income, directly in equity, or through a business combination), in Current tax is the amount of corporate income taxes expected to be payable or recoverable based on the profit for the period as Current tax includes amounts provided in respect of uncertain tax positions when management expects that, upon examination of the uncertainty by a tax authority in possession of all relevant knowledge, it is more likely than not that an economic outflow will occur. Changes in facts and circumstances underlying these provisions are reassessed at the date of each statement of financial position, and the provisions are remeasured as required to reflect current information. Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the statement of financial position. Deferred tax is calculated using tax rates and laws that have been enacted or substantively enacted at the end of the reporting period, and which are expected to apply when the related deferred tax asset Deferred tax liabilities are generally recognised for all taxable temporary differences but not recognised for taxable temporary differences arising on investments in subsidiaries, joint ventures and associates where the reversal of the temporary difference can be controlled and it is probable that the difference will not reverse in the foreseeable future. Deferred tax assets are recognised to the extent it is probable that taxable profits will be available against which the deductible temporary differences can be utilised, and are reviewed at the end of each reporting period and reduced to the extent that Deferred tax assets and liabilities are not recognised in respect of temporary differences that arise on initial recognition of assets and liabilities acquired other than in a business combination. Deferred tax is not discounted. When the acquisition of an asset qualifies to be accounted for as a business combination, deferred tax is generally required In an ‘asset acquisition’, where the buyer acquires the trade and assets of a business, there is often a tax deduction available for the amortisation of the identifiable intangible assets and sometimes for the goodwill. In this situation, deferred tax is recognised on the difference between the tax base and the book base of the assets. In a ‘share acquisition’, where the buyer acquires the share capital of a legal entity that continues to own the trade and assets, tax deductions for amortisation are usually not available. Intangibles which do not qualify for tax deductions therefore give rise to a deferred tax liability. However, deferred tax liabilities are not recognised on temporary differences that arise from goodwill where that is not deductible for tax purposes. Other areas of accounting judgement The Group is subject to tax in numerous jurisdictions, giving rise to complex tax issues. As a multinational enterprise, the Group’s tax returns in the countries in which it operates are subject to tax authority audits as a matter of routine. While the Group is confident that tax returns are appropriately prepared and filed, amounts are provided in respect of uncertain tax positions that reflect the risk with respect to tax matters under active discussion with tax authorities, or which are otherwise considered to involve uncertainty. The valuation of provisions required in relation to uncertain tax positions involves estimation. Provisions against uncertain tax positions are measured using one of the following methods, depending on which of the methods management expects will better predict the amount it will pay over to the tax authority: ■ The Single Best Estimate – where there is a single outcome that is more likely than not to occur. This will happen, for example, where the tax outcome is binary (such as whether an entity can deduct an item of expenditure) or the range of possible outcomes is narrow or concentrated on a single value. The most likely outcome may be that no tax is expected to be payable, in which case the provision is nil; or ■ A Probability-Weighted Expected Value – where, on the balance of probabilities, something will be paid to the tax authority but the possible outcomes are widely dispersed with low individual probabilities (i.e. there is no single outcome more likely than not to occur). In this case, the provision is the sum of the probability-weighted amounts in the range. ​ 9 Taxation (continued) ​ In assessing provisions against uncertain tax positions, management uses in-house tax experts, professional firms and previous experience to inform the evaluation of risk. However, it remains possible that uncertainties will ultimately be resolved at amounts greater or smaller than the liabilities recorded. In particular, although the Group reports cross-border transactions undertaken between Group subsidiaries on an arm’s-length basis in tax returns in accordance with OECD guidelines, transfer pricing relies on the exercise of judgement and it is frequently possible for there to be a range of legitimate and reasonable views. This means that it is impossible to be certain that the returns basis will be sustained on examination. Discussions with tax authorities relating to cross-border transactions and other matters are ongoing in a number of our major trading jurisdictions. Although the timing and amount of final resolution of these uncertain tax positions cannot be reliably predicted, no significant impact on the results of the Group is expected in the next year or foreseeable future. Estimation of income taxes also includes assessments of the recoverability of deferred tax assets, consistent with the Group’s forecasts and annual strategy plan used in the preparation of the annual report and accounts. Deferred tax assets are only recognised to the extent that they are considered recoverable based on existing tax laws and forecasts of future taxable profits against which the underlying tax deductions can be utilised. The recoverability of these assets is reassessed at the end of each reporting period, and changes in recognition of deferred tax assets will affect the tax liability in the period of that reassessment.
Earnings per share	​ ​ ​ ​ Accounting policy Earnings per share (EPS) is calculated by taking the reported net profit attributable to shareholders and dividing this by the total weighted average number of shares. The diluted figures are calculated after taking account of potential additional ordinary shares arising from share options and conditional shares. The dilutive impact is calculated as the weighted average of all potentially dilutive shares
Cash and cash equivalents	​ ​ ​ Accounting policy Cash and cash equivalents comprise cash balances, call deposits and other short-term highly liquid investments and are held in the statement of financial position at fair value.
Acquisitions	​ Accounting policy Goodwill, being the excess of the consideration over the net tangible and intangible assets acquired, represents benefits which do not qualify for recognition as intangible assets, including: the ability of a business to generate higher returns than individual assets; skilled workforces; and acquisition synergies that are specific to the Group. In addition, goodwill arises on the recognition of deferred tax liabilities in respect of intangible assets for which amortisation does not qualify for tax deductions.
Intangible assets	​ Accounting policy On acquisition of a subsidiary or business, the purchase consideration is allocated between the tangible and intangible assets other than goodwill on a fair value basis, with any excess purchase consideration representing goodwill. Goodwill is carried at fair value as at the date of acquisition less impairment charges. Acquired intangible assets are carried at their fair value as at the date of acquisition less accumulated amortisation (including impairment). On disposal, the amount of goodwill attributable to a subsidiary or business is included in the calculation of profit or loss recognised in the income statement. Management judgement is required to identify intangible assets acquired as part of business combinations which comprise: market-related assets (e.g. trademarks, imprints, brands); customer-related assets (e.g. subscription bases, customer lists, customer relationships); editorial content; software and systems (e.g. application infrastructure, product delivery platforms, in-process research and development); and other intangible assets mainly comprising contract and rights-related assets. The valuation of acquired intangible assets represents the estimated economic value in use, using standard valuation methodologies, including as appropriate, discounted cash flow and comparable market transactions. Judgements involved in estimating valuation of the intangible assets include growth in cash flows over the forecast period, the long-term growth rate assumed thereafter and the discount rate applied to the forecast cash flows. The selection of appropriate amortisation periods for acquired intangible assets requires management to assess the longevity of brands and imprints, the strength and stability of customer relationships, the market positions of the acquired intangible assets and the technological and competitive risks that they face. Certain intangible assets in relation to acquired science and medical publishing businesses have been determined to have indefinite lives. The longevity of these assets is evidenced by their long-established and well regarded journal titles, and their characteristically stable market positions. Journal titles determined to have indefinite lives are not amortised and are subject to impairment review at least annually, including a review of events and circumstances to ensure that they continue to support an indefinite useful life. Intangible assets, other than journal titles determined to have indefinite lives, are amortised on a straight-line basis over their estimated useful lives. The estimated useful lives of intangible assets with finite lives are: ■ Market-related assets – 1 to 40 years ■ Customer-related assets – 1 to 20 years ■ Editorial content – 1 to 40 years ■ Software and systems – 1 to 10 years ■ Other – 3 to 20 years Internally developed intangible assets (development spend) typically comprise software and systems development where an identifiable asset is created that is probable to generate future economic benefits and are carried at cost less accumulated amortisation. Internally developed intangible assets are amortised on a straight-line basis over their estimated useful lives of three to 10 years . Impairment reviews are carried out at where indicators of impairment are identified. Impairment reviews Goodwill and acquired intangible assets with an indefinite life are allocated to cash generating units (CGUs) and tested for impairment at least annually or when there is an indicator that the asset may be impaired. An impairment loss is recognised in the income statement in administration and other expenses to the extent the carrying value of goodwill exceeds its recoverable amount and not subsequently reversed. The recoverable amount is the higher of fair value less costs to sell and value in use. The carrying amounts of all other intangible assets are tested for impairment where there are indications of possible impairment. An impairment review involves a comparison of the carrying value of the asset with estimated values in use based on management’s cash flow projections, approved by the Board. Key areas of judgement in estimating the values in use of businesses are the growth in cash flows over a forecast period of up to five years , the long-term growth rate assumed thereafter and the discount rate applied to the forecast cash flows. These calculations require the use of estimates in respect of forecast cash flows and discount rates. Where the asset does not generate cash flows that are independent from other assets, value in use estimates are made based on the cash flows of the CGU to which the asset belongs. As permitted by IAS 36, the most recent detailed calculation of the recoverable amount of a CGU (to which goodwill and acquired intangibles with indefinite lives are allocated) is used in the impairment test for that CGU in the current period where the required criteria have been met. The three required criteria to be met are: there have been no significant changes in the assets and liabilities; the most recent recoverable amount exceeds the carrying amount by a substantial margin; and the likelihood that the recoverable amount would be less than the carrying amount is remote. Critical judgement Development spend Development spend encompasses investment in new products and other initiatives, ranging from the building of online delivery platforms, to launch costs of new services, to building new infrastructure and applications. Launch costs and other ongoing operating expenses of new products and services are expensed as incurred. The costs of building product applications, platforms and infrastructure are capitalised as internally generated intangible assets, where the investment they represent has demonstrable value and the technical and commercial feasibility is assured. Costs eligible for capitalisation must be incremental, clearly identified and directly attributable to a particular project. The resulting assets are amortised over their estimated useful lives. Judgement is required in the assessment of the potential value of a development project, the identification
Investments	​ Accounting policy Investments, other than investments in joint arrangements and associates, are stated in the statement of financial position at fair value. Changes in the fair value of investments held as part of the venture capital portfolio are reported in disposals and other non-operating items in the income statement. All items recognised in the income statement relating to investments, other than investments in joint arrangements and associates, are reported as disposals and other non-operating items. Venture capital investments represent interests in listed and unlisted securities. The fair value of listed securities is based on quoted prices in active markets. The fair value of unlisted securities is based on management’s estimate of fair value based on standard valuation techniques, including market comparisons and discounts of future cash flows, having regard to maximising the use of observable inputs and adjusting for risk. Advice from valuation experts is used as appropriate. Refer to note 17 for further information. All joint arrangements are classified as joint ventures because the Group shares joint control and has rights to the net assets of the arrangements. Investments in joint ventures and associates are accounted for under the equity method and stated in the statement of financial position at cost as adjusted for post-acquisition changes in the Group’s share of net assets, less any impairment in value.
Property, plant and equipment	​ Accounting policy Property, plant and equipment are stated at cost less accumulated depreciation. No depreciation is provided on freehold land. Freehold buildings and long leaseholds ■ land and buildings: land – not depreciated; leasehold improvements – shorter of life of lease and 10 years ■ fixtures and equipment: plant – 3 to 20 years; office furniture, fixtures and fittings – 5 to 10 years; computer systems, communication networks and equipment – 3 to 7 years
Financial instruments	​ Accounting policy Financial instruments comprise investments (other than investments in joint ventures or associates), trade receivables, Investments are described in note 15. The fair value of such investments is based on standard valuation techniques, including market comparisons and discounts of future cash flows, having regard to maximising the use of observable inputs and adjusting for risk. These investments are typically classified as either Level 1 or 2 in the IFRS 13 fair value hierarchy. Trade receivables are carried in the statement of financial position at invoiced value less allowance for expected credit losses. Expected credit losses are based on the ageing of trade receivables, experience and circumstance. Borrowings and payables are recorded initially at fair value and subsequently carried at amortised cost (other than fixed rate borrowings in designated hedging relationships for which the carrying amount of the hedged portion of the borrowings is subsequently adjusted for the gain or loss attributable to the hedged risk). Derivative financial instruments are used to hedge interest rate and foreign exchange risks. Where an effective hedge is in place against changes in the fair value of fixed rate borrowings, the hedged borrowings are adjusted for changes in fair value attributable to the risk being hedged with a corresponding income or expense included in the income statement within finance costs. The offsetting gains or losses from remeasuring the fair value of the related derivatives are also recognised in the income statement within finance costs. When the related derivative expires, is sold or terminated, or no longer qualifies for hedge accounting, the cumulative change in fair value of the hedged borrowing is amortised in the income statement over the period to maturity of the borrowing using the effective interest method. Changes in the fair value of derivative financial instruments that are designated and effective as hedges of future cash flows are recognised (net of tax) in other comprehensive income and accumulated in the hedge reserve. The fair value amounts relating to foreign currency basis spreads are recorded in a separate component of equity in the cost of hedging reserve. Cash flow hedge accounting is discontinued when a hedging instrument expires or is sold, terminated or exercised, or no longer qualifies for hedge accounting. At that time, any cumulative gain or loss on the hedging instrument recognised in other comprehensive income is either retained in the hedge reserve until the firm commitment or forecasted transaction occurs, or, where a hedged transaction is no longer expected to occur, is immediately credited or expensed in the income statement. Derivative financial instruments that are not designated as hedging instruments are recorded in the statement of financial position at fair value, with changes in fair value recognised in the income statement. The fair values of derivative financial instruments represent the replacement costs calculated using observable market rates of interest and exchange. These instruments are accordingly classified as Level 2 in the IFRS 13 fair value hierarchy. The fair value of long-term borrowings is based on quoted prices in active markets. These instruments are accordingly classified as Level 1 in the IFRS 13 fair value hierarchy.
Inventories and pre-publication costs	​ Accounting policy Inventories and pre-publication costs are stated at the lower of cost, including appropriate attributable overhead, and estimated net realisable value. Such costs typically comprise direct internal labour costs and externally commissioned editorial and other fees. Pre-publication costs, representing costs incurred in the origination of content prior to publication, are expensed systematically Annual reviews are carried out to assess the recoverability of carrying amounts.
Trade and other receivables	​ Accounting policy Trade receivables are stated net of a loss allowance for expected credit losses.
Trade and other payables	​ Accounting policy Deferred income is recognised when either a customer has paid consideration, or RELX has an unconditional right to an amount of consideration, in advance of the goods and services being delivered. Trade payables, accruals and other payables are predominantly non-interest-bearing and are stated at their nominal values.
Debt	​ Accounting policy Borrowings are recorded initially at fair value and subsequently carried at amortised cost, other than fixed rate borrowings
Lease arrangements	​ Accounting policy All leases where RELX is the lessee (with the exception of short-term and low-value leases) are recognised in the statement of financial position. A lease liability is recognised based on the present value of the future lease payments, and a corresponding right-of-use asset is recognised. The right-of-use asset is depreciated over the shorter of the lease term or the useful life of the asset. Lease payments are apportioned between finance charges and a reduction of the lease liability. Low-value items and short-term leases with a term of 12 months or less are not required to be recognised in the statement of financial position and payments made in relation to these leases are recognised on a straight-line basis in the income statement. The leases held by the Group can be split into two categories: property and non-property. The Group leases various properties, principally offices, which have varying terms and renewal rights that are typical to the territory in which they are located. Non-property includes all other leases, such as cars and printers.
Share capital and shares held in treasury	​ Accounting policy Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity, net of any tax effects. Share premium is the excess of the consideration received over the nominal value of the shares issued. Shares of RELX PLC that are repurchased and not cancelled are classified as shares held in treasury. The consideration paid, including directly attributable costs, is recognised as a deduction from equity. Shares of RELX PLC that are purchased by the Employee Benefit Trust are also classified as shares held in treasury, with the cost recognised as a deduction from equity.

Revenue and segment analysis (T

Revenue and segment analysis (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue, operating profit and segment analysis
Summary of analysis by business segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ANALYSIS BY BUSINESS SEGMENT ​ Revenue Adjusted operating profit ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm 2022 GBPm 2023 GBPm 2024 GBPm Risk ​ 2,909 3,133 3,245 ​ 1,078 1,165 1,228 Scientific, Technical & Medical ​ 2,909 3,062 3,051 ​ 1,100 1,165 1,172 Legal ​ 1,782 1,851 1,899 ​ 372 393 412 Exhibitions ​ 953 1,115 1,239 ​ 162 319 398 Sub-total ​ 8,553 9,161 9,434 ​ 2,712 3,042 3,210 Unallocated central costs and other operating items ​ - - - ​ (29) (12) (11) Total ​ 8,553 9,161 9,434 ​ 2,683 3,030 3,199
Summary of classification of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 Risk Scientific, Technical & Medical Legal Exhibitions Total Revenue by geographical market ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ 2,317 1,391 1,213 180 5,101 Europe ​ 384 614 357 445 1,800 Rest of world ​ 208 904 212 328 1,652 Total revenue ​ 2,909 ​ 2,909 ​ 1,782 ​ 953 ​ 8,553 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue by format ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Electronic ​ 2,890 ​ 2,573 ​ 1,582 ​ 67 ​ 7,112 Face-to-face ​ 11 ​ 5 ​ 10 ​ 886 ​ 912 Print ​ 8 ​ 331 ​ 190 ​ - ​ 529 Total revenue ​ 2,909 ​ 2,909 ​ 1,782 ​ 953 ​ 8,553 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue by type ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subscriptions ​ 1,135 ​ 2,139 ​ 1,381 ​ - ​ 4,655 Transactional ​ 1,774 ​ 770 ​ 401 ​ 953 ​ 3,898 Total revenue ​ 2,909 ​ 2,909 ​ 1,782 ​ 953 ​ 8,553 ​ ​ 2 Revenue, operating profit and segment analysis (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 Risk Scientific, Technical & Medical Legal Exhibitions Total Revenue by geographical market ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ 2,476 1,439 1,254 217 5,386 Europe ​ 429 666 386 427 1,908 Rest of world ​ 228 957 211 471 1,867 Total revenue ​ 3,133 ​ 3,062 ​ 1,851 ​ 1,115 ​ 9,161 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue by format ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Electronic ​ 3,111 ​ 2,762 ​ 1,667 ​ 85 ​ 7,625 Face-to-face ​ 14 ​ 7 ​ 9 ​ 1,030 ​ 1,060 Print ​ 8 ​ 293 ​ 175 ​ - ​ 476 Total revenue ​ 3,133 ​ 3,062 ​ 1,851 ​ 1,115 ​ 9,161 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue by type ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subscriptions ​ 1,255 ​ 2,261 ​ 1,460 ​ - ​ 4,976 Transactional ​ 1,878 ​ 801 ​ 391 ​ 1,115 ​ 4,185 Total revenue ​ 3,133 3,062 1,851 1,115 9,161 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 Risk Scientific, Technical & Medical Legal Exhibitions Total Revenue by geographical market ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ 2,563 1,411 1,290 231 5,495 Europe* ​ 443 656 399 527 2,025 Rest of world ​ 239 984 210 481 1,914 Total revenue ​ 3,245 ​ 3,051 ​ 1,899 ​ 1,239 ​ 9,434 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue by format ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Electronic ​ 3,226 ​ 2,785 ​ 1,730 ​ 83 ​ 7,824 Face-to-face ​ 16 ​ 6 ​ 11 ​ 1,156 ​ 1,189 Print ​ 3 ​ 260 ​ 158 ​ - ​ 421 Total revenue ​ 3,245 ​ 3,051 ​ 1,899 ​ 1,239 ​ 9,434 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue by type ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Subscriptions ​ 1,260 ​ 2,250 ​ 1,515 ​ - ​ 5,025 Transactional ​ 1,985 ​ 801 ​ 384 ​ 1,239 ​ 4,409 Total revenue ​ 3,245 3,051 1,899 1,239 9,434 * Europe includes revenue of £ 613 m from the United Kingdom (2023: £ 602 m; 2022: £544 m).
Summary of analysis of revenue by geographical origin	​ ​ ​ ​ ​ ​ ​ ​ ANALYSIS OF REVENUE BY GEOGRAPHICAL ORIGIN ​ 2022 GBPm 2023 GBPm 2024 GBPm North America ​ 5,002 5,325 5,461 Europe ​ 2,974 3,117 3,270 Rest of world ​ 577 719 703 Total ​ 8,553 9,161 9,434
Summary of analysis by business segment expenditure	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ANALYSIS BY BUSINESS SEGMENT Expenditure on acquired goodwill and intangible assets Capital expenditure additions Amortisation of acquired intangible assets Total depreciation and other amortisation ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm ​ 2022 GBPm 2023 GBPm 2024 GBPm ​ 2022 GBPm 2023 GBPm 2024 GBPm ​ 2022 GBPm 2023 GBPm 2024 GBPm Risk ​ 155 79 - ​ 122 139 148 ​ 204 194 184 ​ 94 92 99 Scientific, Technical & Medical ​ 206 3 8 ​ 103 108 104 ​ 60 59 44 ​ 119 136 125 Legal ​ 33 42 145 ​ 186 193 203 ​ 12 11 15 ​ 229 247 256 Exhibitions ​ - 8 65 ​ 28 37 29 ​ 20 16 15 ​ 49 39 45 Total ​ 394 132 218 ​ 439 477 484 ​ 296 280 258 ​ 491 514 525
Summary of analysis of non-current assets by geographical location	​ ​ ​ ​ ​ ​ ​ ​ ANALYSIS OF NON-CURRENT ASSETS BY GEOGRAPHICAL LOCATION ​ 2023 GBPm 2024 GBPm North America ​ ​ 9,149 9,131 Europe ​ ​ 2,141 2,259 Rest of world ​ ​ 459 438 Total ​ ​ 11,749 11,828
Summary of reconciliation of operating profit to adjusted operating profit	​ ​ ​ ​ ​ ​ ​ ​ RECONCILIATION OF OPERATING PROFIT TO ADJUSTED OPERATING PROFIT 2022 GBPm 2023 GBPm 2024 GBPm Operating profit ​ 2,323 2,682 2,861 Adjustments: ​ Amortisation of acquired intangible assets ​ 296 280 258 Acquisition and disposal related items ​ 62 56 69 Reclassification of tax in joint ventures and associates ​ 4 12 12 Reclassification of finance income in joint ventures and associates ​ (2) - (1) Adjusted operating profit ​ 2,683 3,030 3,199

Operating expenses (Tables)

Operating expenses (Tables)	12 Months Ended
	Dec. 31, 2024
Operating expenses
Disclosure of detailed information about operating profit	Operating profit is stated after charging the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Note 2022 GBPm 2023 GBPm 2024 GBPm Total staff costs 5 ​ 2,906 3,108 3,120 Depreciation and amortisation ​ Amortisation of acquired intangible assets 14 ​ 294 279 258 Share of joint ventures and associates' amortisation of acquired intangible assets ​ 2 1 - Amortisation of acquired intangible assets including joint ventures and associates' share ​ 296 280 258 Amortisation of internally developed intangible assets 14 ​ 309 330 364 Depreciation of property, plant and equipment 16 ​ 47 43 34 Depreciation of right-of-use assets ​ 63 65 50 Pre-publication amortisation ​ 72 76 77 Total depreciation and other amortisation 2 ​ 491 514 525 Total depreciation and amortisation (including amortisation of acquired intangibles) ​ ​ ​ 787 794 783 Other expenses and income ​ Cost of sales including pre-publication costs and inventory expenses ​ 3,045 3,216 3,300 Short-term and low value lease expenses ​ 19 18 16

Auditor's remuneration (Tables)

Auditor's remuneration (Tables)	12 Months Ended
	Dec. 31, 2024
Auditor's remuneration.
Disclosure of detailed information about auditors' remuneration	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm Auditor’s remuneration Payable to the auditors of RELX PLC ​ 0.9 0.9 0.9 Payable to the auditors of the Group’s subsidiaries ​ 8.4 8.0 7.2 Audit services ​ 9.3 8.9 ​ 8.1 Audit-related assurance services ​ 0.6 ​ 0.5 ​ 0.4 Other assurance services* ​ - ​ 0.2 ​ 0.5 Total auditor’s remuneration ​ 9.9 9.6 ​ 9.0 ​

Personnel (Tables)

Personnel (Tables)	12 Months Ended
	Dec. 31, 2024
Personnel
Disclosure of information about staff cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Note 2022 GBPm 2023 GBPm 2024 GBPm Staff costs Wages and salaries ​ 2,453 2,636 2,630 Social security costs ​ 257 274 280 Pensions 6 ​ 150 142 144 Share based remuneration ​ 46 56 66 Total staff costs ​ 2,906 3,108 3,120 ​
Disclosure of detailed information about number of people employed	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ NUMBER OF PEOPLE EMPLOYED: FULL-TIME EQUIVALENTS* ​ At 31 December ​ Average during the year ​ 2022 2023 2024 2022 2023 2024 Business segment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk ​ 10,800 ​ 11,100 ​ 11,000 ​ 10,400 ​ 10,900 ​ 11,000 Scientific, Technical & Medical ​ 9,500 ​ 9,500 ​ 9,700 ​ 9,300 ​ 9,600 ​ 9,600 Legal ​ 11,300 ​ 11,800 ​ 11,800 ​ 10,900 ​ 11,900 ​ 11,800 Exhibitions ​ 3,300 ​ 3,500 ​ 3,300 ​ 3,300 ​ 3,500 ​ 3,500 Sub-total ​ 34,900 ​ 35,900 ​ 35,800 ​ 33,900 ​ 35,900 ​ 35,900 Corporate/shared functions ​ 800 ​ 600 ​ 600 ​ 800 ​ 600 ​ 600 Total ​ 35,700 ​ 36,500 ​ 36,400 ​ 34,700 ​ 36,500 ​ 36,500 Geographical location ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America ​ 14,900 ​ 14,900 ​ 14,700 ​ 14,500 ​ 15,000 ​ 14,900 Europe ​ 9,800 ​ 10,000 ​ 9,300 ​ 9,500 ​ 9,900 ​ 9,600 Rest of world ​ 11,000 ​ 11,600 ​ 12,400 ​ 10,700 ​ 11,600 ​ 12,000 Total ​ 35,700 ​ 36,500 ​ 36,400 ​ 34,700 ​ 36,500 ​ 36,500 * Reported to the nearest 100.

Pension schemes (Tables)

Pension schemes (Tables)	12 Months Ended
	Dec. 31, 2024
Pension schemes
Schedule of pension expense excluding interest amounts	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm ​ 2023 GBPm ​ 2024 GBPm Defined benefit pension expense ​ 19 ​ 5 ​ 4 Defined contribution pension expense ​ 131 ​ 137 ​ 140 Total ​ 150 ​ 142 ​ 144
Schedule of defined benefit pension schemes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ 2024 ​ ​ UK GBPm ​ US GBPm ​ Total GBPm ​ UK GBPm ​ US GBPm ​ Total GBPm ​ UK GBPm ​ US GBPm ​ Total GBPm Service cost ​ 16 ​ 3 ​ 19 ​ 2 ​ 3 ​ 5 ​ 1 ​ 3 ​ 4 Defined benefit pension expense ​ 16 ​ 3 ​ 19 ​ 2 ​ 3 ​ 5 ​ 1 ​ 3 ​ 4 Net interest on net defined benefit pension balance ​ 4 ​ 1 ​ 5 ​ 1 ​ - ​ 1 ​ - ​ 1 ​ 1 Net defined benefit pension expense ​ 20 ​ 4 ​ 24 ​ 3 ​ 3 ​ 6 ​ 1 ​ 4 ​ 5
Summary of defined benefit pension assumptions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ AS AT 31 DECEMBER ​ 2022 ​ 2023 ​ 2024 ​ UK ​ US ​ UK ​ US ​ UK ​ US Discount rate ​ 4.90 % ​ 5.35 % ​ 4.60 % ​ 5.05 % ​ 5.55 % ​ 5.55 % Inflation ​ 3.20 % ​ 2.50 % ​ 3.05 % ​ 2.50 % ​ 3.15 % ​ 2.50 %
Summary of average life expectancy assumptions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ AS AT 31 DECEMBER 2022 ​ Male average life expectancy ​ Female average life expectancy ​ UK ​ US UK ​ US Member currently aged 60 years 85 ​ 86 ​ 89 ​ 88 Member currently aged 45 years 87 ​ 86 ​ 90 ​ 89 ​ ​ ​ ​ ​ ​ ​ ​ ​ AS AT 31 DECEMBER 2023 ​ Male average life expectancy ​ Female average life expectancy ​ UK ​ US UK ​ US Member currently aged 60 years 85 ​ 86 ​ 88 ​ 88 Member currently aged 45 years 86 ​ 86 ​ 90 ​ 89 ​ ​ ​ ​ ​ ​ ​ ​ ​ AS AT 31 DECEMBER 2024 ​ Male average life expectancy ​ Female average life expectancy ​ UK ​ US UK ​ US Member currently aged 60 years 85 ​ 86 ​ 89 ​ 88 Member currently aged 45 years 86 ​ 86 ​ 90 ​ 89
Amounts recognised in the statement of financial position in respect of defined	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2024 ​ ​ UK GBPm ​ US GBPm ​ Total GBPm ​ UK GBPm ​ US GBPm ​ Total GBPm Defined benefit obligation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At start of year ​ (2,887) (865) (3,752) (2,984) (822) (3,806) Service cost (2) (3) (5) (1) (3) (4) Interest on pension scheme liabilities (138) (43) (181) (133) (40) (173) Actuarial (losses)/gains on financial assumptions (61) (19) (80) 301 20 321 Actuarial (losses)/gains arising from experience assumptions (16) 5 (11) (20) (3) (23) Contributions by employees (8) - (8) (7) - (7) Benefits paid 128 57 185 134 61 195 Exchange translation differences - 46 46 - (16) (16) At end of year (2,984) (822) ​ (3,806) ​ (2,710) ​ (803) ​ (3,513) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value of scheme assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At start of year ​ 2,852 ​ 854 ​ 3,706 ​ 2,937 ​ 834 ​ 3,771 Interest income on plan assets 137 ​ 43 180 133 ​ 39 172 Return on assets excluding amounts included in interest income 1 34 35 (240) (33) (273) Contributions by employer 67 6 73 41 7 48 Contributions by employees 8 - 8 7 - 7 Benefits paid (128) (57) (185) (134) (61) (195) Exchange translation differences - (46) (46) - 14 14 At end of year 2,937 ​ 834 ​ 3,771 ​ 2,744 ​ 800 ​ 3,544 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Opening net balance (35) (11) (46) (47) 12 (35) Service cost (2) (3) (5) (1) (3) (4) Net interest on net defined benefit balance (1) - (1) - (1) (1) Contributions by employer 67 6 73 41 7 48 Actuarial (losses)/gains (76) 20 (56) 41 (16) 25 Exchange translation differences - - - - (2) (2) Net pension balance (47) ​ 12 ​ (35) ​ 34 ​ (3) ​ 31 Impact of asset ceiling (6) (22) (28) (4) (6) (10) Overall net pension balance (53) (10) (63) 30 (9) 21
Summary of net pension obligations and net pension assets	​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Net pension asset recognised ​ 119 ​ 186 Net pension obligation (182) (165) Overall net pension balance (63) 21
Amounts recognized in statement of comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm Gains and losses arising during the year: ​ Experience losses on scheme liabilities ​ (88) (11) (23) Experience (losses)/gains on scheme assets ​ (1,820) 35 (273) Actuarial gains/(losses) on the present value of scheme liabilities due to changes in: ​ – discount rates ​ 2,000 (145) 374 – inflation ​ 32 15 (36) – other actuarial assumptions ​ 1 50 (17) ​ ​ 125 (56) 25
Summary of fair value of scheme assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FAIR VALUE OF SCHEME ASSETS 2023 2024 ​ UK GBPm ​ US GBPm Total GBPm UK GBPm US GBPm Total GBPm Equities ¹ ​ 431 ​ 3 ​ 434 ​ 419 ​ 2 ​ 421 Liability matching assets ² ​ 1,760 ​ 804 ​ 2,564 ​ 1,716 ​ 784 ​ 2,500 Property funds and ground leases ³ ​ 406 ​ - ​ 406 ​ 172 ​ - ​ 172 Direct lending and multi-asset credit funds ​ 229 ​ - ​ 229 ​ 333 ​ - ​ 333 Cash and cash equivalents ⁴ ​ 98 ​ 27 ​ 125 ​ 96 ​ 14 ​ 110 Other ​ 13 ​ - ​ 13 ​ 8 ​ - ​ 8 Total ​ 2,937 ​ 834 3,771 ​ 2,744 800 3,544 (1) Assets are held in unquoted funds which invest in equities with quoted prices. (2) Within the UK scheme are asset backed securities totalling £481 m (2023: £247 m), other credit assets of £487 m (2023: £452 m) and government bonds totalling £1,881 m (2023: £1,962 m) offset by forward foreign currency contracts of £2 m (2023: £4 m) and short-term sale and repurchase agreements totalling £1,131 m (2023: £910 m) whereby the UK scheme funds the purchase of government bonds using existing bonds as security. In the US, the assets primarily relate to government bonds, corporate bonds and interest rate swaps. Of the gross assets, £2,049 m (2023: £2,169 m) are assets with quoted prices in active markets. (3) Assets without quoted prices in active markets. (4) Includes £44 m (2023: £83 m) of assets with quoted prices in an active market. The remainder are held in funds which do not have quoted prices.
Sensitivity analysis of actuarial assumptions	​ ​ ​ ​ ​ GBPm Increase/decrease of 0.5% in discount rate 124 Increase/decrease of 0.25% in the expected inflation rate 55 Increase/decrease of one year in assumed life expectancy 55

Net finance costs (Tables)

Net finance costs (Tables)	12 Months Ended
	Dec. 31, 2024
Net finance costs
Summary of net finance costs	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm Interest on short-term bank loans, overdrafts and commercial paper ​ (19) (31) (48) Interest on term debt ​ (157) (263) (228) Interest on lease liabilities ​ (6) (6) (5) Total borrowing costs ​ (182) (300) (281) Losses on loans and derivatives not designated as hedges ​ (9) (20) (20) Fair value losses on designated fair value hedge relationships ​ (9) ​ (2) ​ (2) Net financing charge on defined benefit pension schemes ​ (5) (1) (1) Finance costs ​ (205) (323) (304) Interest on bank deposits ​ 4 8 6 Finance income ​ 4 8 6 Net finance costs ​ (201) (315) (298) ​

Disposals and other non-opera_2

Disposals and other non-operating items (Tables)	12 Months Ended
	Dec. 31, 2024
Disposals and other non-operating items
Summary of disposals and other non-operating items	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm Revaluation of investments ​ 9 (11) (2) Loss on disposal of businesses and assets held for sale ​ (18) (61) (4) Net loss on disposals and other non-operating items ​ (9) (72) (6)

Taxation (Tables)

Taxation (Tables)	12 Months Ended
	Dec. 31, 2024
Taxation
Summary of tax expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm Current tax Current year ​ (564) (652) (661) Prior years ​ 30 77 54 Total current tax charge ​ (534) (575) (607) Deferred tax ​ 53 68 (6) Tax expense ​ (481) (507) (613)
Summary of weighted average of tax rates applicable to accounting profits and losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ 2024 ​ GBPm % ​ GBPm % ​ GBPm % Profit before tax 2,113 ​ ​ ​ 2,295 ​ ​ ​ 2,557 ​ ​ ​ Tax at average applicable rates (498) 23.6 % ​ (571) 24.9 % ​ (647) 25.3 % Tax effect of share of results of joint ventures and associates 3 (0.1) % ​ 8 (0.3) % ​ 9 (0.4) % Income not taxable and expenses not deductible 21 (1.0) % ​ 20 (0.9) % ​ 16 (0.6) % Non-deductible costs of share based remuneration (1) 0.0 % ​ (1) 0.0 % ​ (2) 0.1 % Non-deductible disposal-related gains and losses (2) 0.1 % ​ (22) 1.0 % ​ (7) 0.3 % Deferred tax assets of the period not recognised (17) 0.8 % ​ (3) 0.1 % ​ (18) 0.7 % Change in recognition and measurement of deferred tax 5 (0.2) % ​ 4 (0.2) % ​ 13 (0.5) % Movements in provisions and prior year items 8 (0.4) % ​ 58 (2.5) % ​ 23 (0.9) % Tax expense (481) 22.8 % ​ (507) 22.1 % ​ (613) 24.0 %
Summary of tax recognised in other comprehensive income or directly in equity	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm Tax on items that will not be reclassified to profit or loss Tax on actuarial movements on defined benefit pension schemes ​ (43) 19 (11) ​ ​ ​ ​ ​ ​ ​ Tax on items that may be reclassified to profit or loss ​ Tax on fair value movements on cash flow hedges ​ 8 (12) 3 ​ ​ ​ ​ ​ ​ ​ Net tax (charge)/credit recognised in other comprehensive income ​ (35) 7 (8) Tax credit on share based remuneration recognised directly in equity ​ - 24 20
Summary of current tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Current tax assets 6 42 Current tax liabilities (163) (119) Total (157) (77)
Summary of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Deferred tax assets 128 84 Deferred tax liabilities (473) (473) Total (345) (389)
Summary of movements in deferred tax liabilities and assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities ​ Deferred tax assets ​ ​ ​ Acquired intangible assets GBPm ​ Other temporary differences GBPm Acquired intangible assets GBPm ​ Losses and other tax attributes GBPm ​ Pension balances GBPm ​ Other temporary differences GBPm ​ Total GBPm Deferred tax (liability)/asset at 1 January 2023 (735) (231) 132 118 49 223 (444) Credit/(charge) to profit 63 40 (31) (26) (1) 23 68 (Charge)/credit to equity/other comprehensive income - (2) - - (1) 11 8 Acquisitions (16) 1 - 9 - - (6) Disposals and other ​ 3 ​ - ​ - ​ - ​ - ​ - ​ 3 Exchange translation differences 33 10 (2) (5) - (10) 26 Deferred tax (liability)/asset at 1 January 2024 (652) (182) 99 96 47 247 (345) Credit/(charge) to profit 52 14 (31) (31) (10) - (6) (Charge)/credit to equity/other comprehensive income - (14) - - 6 1 (7) Acquisitions (16) - - 1 - - (15) Disposals and other ​ - ​ - ​ - ​ - ​ - ​ (2) ​ (2) Exchange translation differences (10) (1) (2) (2) - 1 (14) Deferred tax (liability)/asset at 31 December 2024 (626) (183) 66 64 43 247 (389)
Schedule of losses and other tax attributes for which no deferred tax is recognised	​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2024 ​ ​ GBPm Gross amount GBPm Tax effected ​ GBPm Gross amount GBPm Tax effected Trading losses and temporary differences expiring ​ ​ ​ ​ ​ Within 10 years 93 26 ​ 55 15 More than 10 years 14 4 ​ 13 3 Available indefinitely 246 66 ​ 185 51 Total 353 96 ​ 253 69 State and local tax losses expiring ​ ​ ​ ​ ​ Within 10 years 21 1 ​ 18 1 More than 10 years 63 4 ​ 57 3 Available indefinitely - - ​ - - Total 84 5 ​ 75 4 Capital losses expiring ​ ​ ​ ​ ​ Within 10 years - - ​ - - More than 10 years - - ​ - - Available indefinitely 27 7 ​ 140 31 Total 27 7 ​ 140 31 ​

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings per share
Summary of earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ EARNINGS PER SHARE – FOR THE YEAR ENDED 31 DECEMBER 2022 2023 2024 ​ ​ Net profit attributable to shareholders GBPm ​ Weighted average number of shares (millions) ​ EPS (pence) ​ ​ Net profit attributable to shareholders GBPm ​ Weighted average number of shares (millions) ​ EPS (pence) ​ ​ Net profit attributable to shareholders GBPm ​ Weighted average number of shares (millions) ​ EPS (pence) ​ Basic earnings per share 1,634 1,918.5 85.2p ​ ​ 1,781 1,891.8 94.1p ​ ​ 1,934 1,865.9 103.6p ​ Diluted earnings per share 1,634 1,929.3 84.7p ​ ​ 1,781 1,902.8 93.6p ​ ​ 1,934 1,876.7 103.1p ​ ​

Statement of cash flows (Tables

Statement of cash flows (Tables)	12 Months Ended
	Dec. 31, 2024
Statement of cash flow
Schedule of reconciliation of operating profit to cash generated from operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RECONCILIATION OF OPERATING PROFIT TO CASH GENERATED FROM OPERATIONS ​ ​ ​ 2022 GBPm 2023 GBPm 2024 GBPm Operating profit ​ 2,323 2,682 2,861 Share of results of joint ventures and associates ​ (19) (46) (43) Amortisation of acquired intangible assets ​ 294 279 258 Amortisation of internally developed intangible assets ​ 309 330 364 Amortisation of pre-publication costs ​ ​ ​ 72 ​ 76 ​ 77 Depreciation of property, plant and equipment ​ 47 43 34 Depreciation of right-of-use assets ​ 63 65 50 Share based remuneration ​ 46 56 66 Total non-cash items ​ 831 849 849 Increase in inventories and pre-publication costs ​ (103) (90) (83) Increase in receivables ​ (251) (24) (173) Increase/(decrease) in payables ​ 280 (1) 110 Increase in working capital ​ (74) (115) (146) Cash generated from operations ​ 3,061 3,370 3,521
Schedule of cash flow on acquisitions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CASH FLOW ON ACQUISITIONS ​ Note ​ 2022 GBPm 2023 GBPm 2024 GBPm Purchase of businesses 12 ​ (373) (108) (165) Deferred payments relating to prior year acquisitions ​ ​ (21) (16) (5) Total ​ ​ (394) (124) (170)
Schedule of reconciliation of net debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ RECONCILIATION OF NET DEBT ​ Cash and cash equivalents GBPm ​ Debt GBPm ​ Related derivative financial instruments GBPm ​ Finance Lease receivable GBPm ​ Total GBPm At 1 January 2023 334 (6,730) (213) 5 (6,604) Decrease in cash and cash equivalents (169) - - - (169) Increase in short-term bank loans, overdrafts and commercial paper - (84) - - (84) Issuance of term debt - (651) - - (651) Repayment of term debt - 847 - - 847 Repayment of leases - 72 - (2) 70 Change in net debt resulting from cash flows (169) 184 - (2) ​ 13 Borrowings in disposed businesses ​ - ​ 1 ​ - ​ - ​ 1 Inception of leases - (38) - 1 (37) Fair value and other adjustments to debt and related derivatives - (100) 97 - (3) Exchange translation differences (10) 186 8 - 184 At 1 January 2024 155 (6,497) (108) 4 (6,446) Decrease in cash and cash equivalents (32) - - - (32) Increase in short-term bank loans, overdrafts and commercial paper - (461) - - (461) Issuance of term debt - (711) - - (711) Repayment of term debt - 1,017 - - 1,017 Repayment of leases - 63 - (2) 61 Change in net debt resulting from cash flows (32) (92) - (2) (126) Borrowings in disposed businesses ​ - ​ 8 ​ - ​ - ​ 8 Remeasurement and derecognition of leases - (4) - - (4) Inception of leases - (32) - - (32) Fair value and other adjustments to debt and related derivatives - 19 (28) - (9) Exchange translation differences (4) 54 (4) - 46 At 31 December 2024 119 (6,544) (140) 2 (6,563)

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2024
Acquisitions
Summary of consideration paid for acquiring assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value 2022 GBPm ​ Fair value 2023 GBPm ​ Fair value 2024 GBPm Goodwill ​ 269 68 146 Intangible assets ​ 125 ​ 64 ​ 72 Property, plant and equipment ​ 1 1 - Other non-current assets ​ 3 - - Current assets ​ 8 3 6 Current liabilities ​ (21) (10) (14) Borrowings ​ (3) - - Deferred tax ​ (13) (6) (15) Net assets acquired ​ 369 120 195 Consideration (after taking account of £7 m net cash acquired (2022: £6 m; 2023: £4 m)) ​ 369 120 195 Change in consideration deferred to future years and changes in contingent consideration relating to prior year acquisitions ​ 4 (12) (30) Net cash flow ​ 373 108 165

Equity dividends (Tables)

Equity dividends (Tables)	12 Months Ended
	Dec. 31, 2024
Equity dividends
Summary of ordinary dividends paid	​ ​ ​ ​ ​ ​ ​ ​ ORDINARY DIVIDENDS PAID IN THE YEAR ​ 2022 GBPm ​ 2023 GBPm ​ 2024 GBPm RELX PLC 983 1,059 1,121

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Dec. 31, 2024
Intangible assets
Schedule of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill GBPm ​ Market related GBPm ​ Customer related GBPm ​ Editorial content GBPm ​ Software and technology GBPm ​ Other GBPm ​ Total acquired intangible assets GBPm ​ Total internally developed intangible assets GBPm ​ Total intangible assets excluding goodwill GBPm COST ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at 1 January 2023 8,388 ​ 2,699 2,076 690 ​ 845 ​ 2,518 8,828 4,120 12,948 Acquisitions 68 ​ 1 ​ 28 ​ 1 ​ 31 ​ 3 64 - 64 Additions - ​ - ​ - ​ - ​ - ​ - - 447 447 Disposals and other ¹ (51) ​ (28) ​ (29) ​ (11) ​ (4) ​ (9) (81) (59) (140) Exchange translation differences (382) ​ (132) ​ (96) ​ (22) ​ (37) ​ (86) (373) (165) (538) At 1 January 2024 8,023 ​ 2,540 1,979 658 ​ 835 ​ 2,426 8,438 4,343 12,781 Acquisitions 146 ​ 10 ​ 14 ​ 10 ​ 38 ​ - 72 - 72 Additions - ​ - ​ - ​ - ​ - ​ - - 464 464 Disposals and other ² (36) ​ (71) ​ (8) ​ (6) ​ (23) ​ (110) (218) (87) (305) Exchange translation differences 83 ​ 36 ​ 25 ​ 4 ​ 5 ​ 7 77 2 79 At 31 December 2024 8,216 2,515 2,010 666 855 2,323 8,369 4,722 13,091 ​ ​ ​ ACCUMULATED AMORTISATION ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at 1 January 2023 - 1,718 ​ 1,332 ​ 617 ​ 572 2,500 6,739 2,685 9,424 Charge for the year - 116 ​ 73 ​ 15 ​ 63 ​ 12 279 330 609 Disposals and other ¹ - (16) ​ (19) ​ (5) ​ (8) ​ (9) (57) (41) (98) Exchange translation differences - (87) ​ (63) ​ (20) ​ (27) ​ (87) (284) (108) (392) At 1 January 2024 - 1,731 ​ 1,323 ​ 607 ​ 600 2,416 6,677 2,866 9,543 Charge for the year - ​ 111 ​ 71 ​ 13 ​ 62 ​ 1 258 364 622 Disposals and other ² - ​ (69) ​ (8) ​ (5) ​ (23) ​ (110) (215) (71) (286) Exchange translation differences - ​ 23 ​ 15 ​ 3 ​ 6 ​ 7 54 (6) 48 At 31 December 2024 - ​ 1,796 ​ 1,401 ​ 618 ​ 645 ​ 2,314 6,774 3,153 9,927 ​ ​ ​ NET BOOK AMOUNT ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At 31 December 2023 8,023 809 656 51 235 10 1,761 1,477 3,238 At 31 December 2024 8,216 719 609 48 210 9 1,595 1,569 3,164 (1) Includes goodwill of £51 m (before an impairment of £42 m) and intangible assets of £31 m classified as held for sale within Risk. (2) Includes goodwill impairments of ​
Schedule of breakdown of goodwill into cash generating units	​ ​ ​ ​ ​ ​ GOODWILL 2023 GBPm 2024 GBPm Risk 3,950 4,004 Scientific, Technical & Medical 1,923 1,948 Legal 1,524 1,640 Exhibitions 626 624 Total 8,023 8,216
Schedule of key assumptions used for each group of cash generating units	14 Intangible assets (continued) The key assumptions used for each group of CGUs are disclosed below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ KEY ASSUMPTIONS ​ 2023 ​ 2024 ​ ​ Pre-tax discount rate ​ Nominal long-term market growth rate ​ Pre-tax discount rate ​ Nominal long-term market growth rate ​ Risk 11.3% ​ ​ 4% ​ 11.3% ​ ​ 4% ​ Scientific, Technical & Medical 10.6% ​ ​ 3% ​ 10.6% ​ ​ 3% ​ Legal 10.9% ​ ​ 4% ​ 10.9% ​ ​ 4% ​ Exhibitions 12.3% ​ ​ 4% ​ 12.3% ​ ​ 4% ​

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2024
Investments
Summary of investments	​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Investments in joint ventures and associates 178 169 Venture capital and other investments 97 92 Total 275 261 ​
Summary of information about joint ventures	​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm At start of year 159 178 Share of results of joint ventures and associates 46 43 Dividends received from joint ventures and associates (21) (37) Exchange translation differences (6) (15) At end of year 178 169 ​ ​ ​ ​ ​ ​ ​ RELX’s share ​ ​ 2023 GBPm ​ 2024 GBPm Revenue 123 121 Net profit for the year 46 43 ​ ​ ​ ​ ​ Total assets 200 198 Total liabilities (61) (97) Net assets 139 101 Goodwill 39 68 Total 178 169

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2024
Property, plant and equipment.
Summary of property, plant and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2024 ​ Land and buildings GBPm Fixtures and equipment GBPm Total GBPm Land and buildings GBPm Fixtures and equipment GBPm Total GBPm Cost At start of year 166 ​ 452 618 134 ​ 373 507 Acquisitions - 1 1 - - - Capital expenditure 5 25 30 1 19 20 Disposals (30) (88) (118) (25) (104) (129) Exchange translation differences (7) (17) (24) - - - At end of year 134 373 507 110 288 398 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depreciation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At start of year ​ 115 377 492 92 316 408 Charge for the year 5 38 43 5 29 34 Disposals (23) (85) (108) (23) (103) (126) Exchange translation differences (5) (14) (19) - - - At end of year 92 316 408 74 242 316 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net book amount 42 57 99 36 46 82

Financial instruments (Tables)

Financial instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Financial instruments
Summary of remaining contractual maturities for borrowings and derivative financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ AT 31 DECEMBER 2023 ​ ​ ​ Contractual cash flow (including interest) ​ ​ Carrying ​ Within ​ ​ ​ ​ ​ ​ ​ ​ ​ More than ​ ​ ​ ​ amount ​ 1 year ​ 1-2 years ​ 2-3 years ​ 3-4 years ​ 4-5 years ​ 5 years ​ Total ​ GBPm GBPm GBPm GBPm GBPm GBPm GBPm GBPm Borrowings ​ ​ ​ ​ ​ ​ ​ ​ Fixed rate borrowings (6,136) ​ (1,174) ​ (762) ​ (764) ​ (538) ​ (792) ​ (3,037) (7,067) Floating rate borrowings (220) ​ (220) ​ - ​ - ​ - ​ - ​ - (220) Lease liabilities (141) ​ (66) ​ (45) ​ (17) ​ (12) ​ (6) ​ (28) (174) ​ ​ (6,497) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative financial liabilities Cash inflows ​ ​ ​ 621 ​ 92 ​ 14 ​ 3 ​ - ​ - ​ 730 Cash outflows ​ ​ ​ (632) ​ (94) ​ (14) ​ (3) ​ - ​ - ​ (743) Forward foreign exchange contracts (16) (11) (2) ​ - ​ - ​ - ​ - (13) Interest rate derivatives (104) (35) ​ (17) ​ (13) ​ (13) ​ (14) ​ (27) (119) Cross-currency interest rate swaps (27) (34) ​ (539) ​ - ​ - ​ - ​ - (573) ​ ​ (147) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative financial assets Cash inflows ​ ​ ​ 1,149 ​ 364 ​ 199 ​ 30 ​ - ​ - ​ 1,742 Cash outflows ​ ​ ​ (1,111) ​ (339) ​ (186) ​ (29) ​ - ​ - ​ (1,665) Forward foreign exchange contracts 62 38 25 13 1 - - 77 Interest rate derivatives 19 - ​ 4 ​ 6 ​ 5 ​ 4 ​ 19 38 Cross-currency interest rate swaps - 7 ​ 527 ​ - ​ - ​ - ​ - 534 ​ ​ 81 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total (6,563) (1,495) (809) (775) (557) (808) (3,073) (7,517) ​ ​ 17 Financial instruments (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ AT 31 DECEMBER 2024 ​ Contractual cash flow (including interest) ​ Carrying amount GBPm Within 1 year GBPm 1-2 years GBPm 2-3 years GBPm 3-4 years GBPm 4-5 years GBPm More than 5 years GBPm Total GBPm Borrowings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fixed rate borrowings (5,679) ​ (763) ​ (756) ​ (541) ​ (783) ​ (862) ​ (2,979) (6,684) Floating rate borrowings (762) ​ (762) ​ - ​ - ​ - ​ - ​ - (762) Lease liabilities (103) ​ (43) ​ (28) ​ (19) ​ (10) ​ (4) ​ (27) (131) ​ ​ (6,544) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative financial liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash inflows ​ ​ ​ 1,560 ​ 180 ​ 124 ​ 17 ​ - ​ - ​ 1,881 Cash outflows ​ ​ ​ (1,575) ​ (184) ​ (126) ​ (17) ​ - ​ - ​ (1,902) Forward foreign exchange contracts (23) ​ (15) ​ (4) ​ (2) ​ - ​ - ​ - (21) Interest rate derivatives (119) ​ (25) ​ (22) ​ (22) ​ (22) ​ (22) ​ (22) (135) Cross-currency interest rate swaps (43) ​ (550) ​ - ​ - ​ - ​ - ​ - (550) ​ ​ (185) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative financial assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash inflows ​ ​ ​ 827 ​ 274 ​ 85 ​ 6 ​ - ​ - ​ 1,192 Cash outflows ​ ​ ​ (788) ​ (251) ​ (77) ​ (6) ​ - ​ - ​ (1,122) Forward foreign exchange contracts 53 39 23 8 - - - 70 Interest rate derivatives 21 ​ 3 ​ 5 ​ 5 ​ 4 ​ 3 ​ 16 36 Cross-currency interest rate swaps - ​ 502 ​ - ​ - ​ - ​ - ​ - 502 ​ ​ 74 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total (6,655) (1,614) (782) (571) (811) (885) (3,012) (7,675)
Summary of trade receivables past due	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 GBPm ​ 2023 GBPm ​ 2024 GBPm Up to one month ​ 265 ​ 259 ​ 217 2 to 3 months ​ 115 ​ 130 ​ 130 4 to 6 months ​ 46 ​ 56 ​ 57 Greater than 6 months ​ 23 ​ 35 ​ 24 Total past due ​ 449 ​ 480 ​ 428
Summary of fair value hedges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FAIR VALUE HEDGE RELATIONSHIPS 31 December 2023 Principal amount GBPm 31 December 2024 Principal amount GBPm Fixed rate ​ ​ Floating rate €500m bond and €500m interest rate swaps maturing 2024 (433) - 1.0% ​ ​ Euribor+0.7% €600m bond and €600m/$669.3m cross-currency interest rate swaps maturing 2025 (524) (535) 1.3% ​ ​ USD SOFR+1.5% $750m bond and $750m interest rate swaps maturing 2030 (588) (599) 3.0% ​ ​ USD SOFR+1.8% €750m bond and €750m interest rate swaps maturing 2031 (650) (620) 3.8% ​ ​ Euribor+0.9% $500m bond and $500m interest rate swaps maturing 2032 ​ (392) ​ (399) ​ 4.8% ​ ​ USD SOFR+2.0% ​ (2,587) (2,153) ​ ​ ​ ​ ​
Summary of gains and losses on borrowings and related derivatives designated as fair value hedges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2022 GBPm Fair value movement gain/(loss) GBPm Exchange gain/(loss) GBPm 31 December 2022 GBPm Carrying values GBPm USD debt (1) 140 2 141 (1,630) Related interest rate swaps 8 (149) (2) (143) (143) ​ 7 (9) - (2) (1,773) EUR debt (27) 96 1 70 (924) Related interest rate swaps 27 (96) (1) (70) (70) ​ - - - - (994) Total relating to USD and EUR debt (28) 236 3 211 (2,554) Total related interest rate swaps 35 (245) (3) (213) (213) Net gain on borrowings and related derivatives/total carrying value 7 (9) - (2) (2,767) ​ 17 Financial instruments (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2023 GBPm Fair value movement gain/(loss) GBPm Redemption/ close-out GBPm Exchange gain/(loss) GBPm 31 December 2023 GBPm Carrying values GBPm USD debt 141 ​ (22) (16) ​ (6) 97 (871) Related interest rate swaps (143) ​ 21 16 ​ 6 (100) (100) ​ (2) (1) - - (3) (971) EUR debt 70 ​ (61) - ​ (2) 7 (1,600) Related interest rate swaps (70) ​ 60 - ​ 2 (8) (8) ​ - (1) - - (1) (1,608) Total relating to USD and EUR debt 211 (83) (16) (8) 104 (2,471) Total related interest rate swaps (213) 81 16 8 (108) (108) Net gain/(loss) on borrowings and related derivatives/total carrying value (2) (2) - - (4) (2,579) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2024 GBPm Fair value movement gain/(loss) GBPm Redemption/ close-out GBPm Exchange gain/(loss) GBPm 31 December 2024 GBPm Carrying values GBPm USD debt 97 ​ 14 ​ - ​ 3 114 (875) Related interest rate swaps (100) ​ (16) ​ - ​ (3) (119) (119) ​ (3) (2) - - (5) (994) EUR debt 7 ​ 12 ​ - ​ 1 20 (1,133) Related interest rate swaps (8) ​ (12) ​ - ​ (1) (21) (21) ​ (1) - - - (1) (1,154) Total relating to USD and EUR debt 104 26 - 4 134 (2,008) Total related interest rate swaps (108) (28) - (4) (140) (140) Net loss on borrowings and related derivatives/total carrying value ​ (4) (2) - - (6) (2,148)
Summary of movements in the hedge reserve including gains and losses on cash flow hedging instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate hedge reserve GBPm Cost of hedging reserve GBPm Foreign currency hedge reserve GBPm Total GBPm Hedge reserve at 31 December 2022: losses deferred (2) (1) (8) (11) Gains/(losses) arising in 2023 1 (3) 31 29 Amounts recognised in income statement 1 ​ - ​ 17 18 Hedge reserve at 31 December 2023: (losses)/gains deferred - (4) 40 36 (Losses)/gains arising in 2024 (5) 6 10 11 Amounts recognised in income statement 2 ​ - ​ (22) (20) Hedge reserve at 31 December 2024: (losses)/gains deferred (3) 2 28 27
Summary of deferred gains and losses on cash flow hedges currently expected to recognized in future period	​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency hedge reserve GBPm Principal amount of hedges GBPm Carrying values GBPm 2025 17 ​ 465 ​ 25 2026 11 ​ 501 ​ 11 2027 - ​ 268 ​ - 2028 - ​ 30 ​ - Total 28 1,264 36

Inventories and pre-publicati_2

Inventories and pre-publication costs (Tables)	12 Months Ended
	Dec. 31, 2024
Inventories and pre-publication costs
Summary of inventories and pre-publication costs	​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Raw materials 1 - Pre-publication costs 278 302 Finished goods 39 29 Total 318 331

Trade and other receivables (Ta

Trade and other receivables (Tables)	12 Months Ended
	Dec. 31, 2024
Trade and other receivables.
Summary of trade and other receivables	​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Trade receivables 2,144 2,306 Loss allowance (119) (122) ​ 2,025 2,184 Prepayments and accrued income 288 283 Current tax receivable 6 42 Net finance lease receivable 4 2 Total 2,323 2,511
Summary of movements in loss allowance	​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm At start of year 118 119 Charge for the year 8 17 Trade receivables written off (3) (13) Exchange translation differences (4) (1) At end of year 119 122 ​

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
	Dec. 31, 2024
Trade and other payables
Summary of trade and other payables	​ ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Trade payables 171 223 Accruals 842 851 Social security and other taxes 174 181 Other payables 487 539 Deferred income 2,297 2,328 Total 3,971 4,122

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt
Summary of types of borrowings both current and non-current	​ ​ 21 Debt (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2024 ​ Falling due within 1 year GBPm Falling due in more than 1 year GBPm ​ Total GBPm Falling due within 1 year GBPm Falling due in more than 1 year GBPm ​ Total GBPm Financial liabilities measured at amortised cost: Short-term bank loans, overdrafts and commercial paper 220 - 220 762 - 762 Term debt 606 2,940 3,546 - 3,551 3,551 Lease liabilities 57 84 141 38 65 103 Term debt in fair value hedging relationships 430 2,041 2,471 492 1,516 2,008 Term debt previously in fair value hedging relationships - 119 119 120 - 120 Total 1,313 5,184 6,497 1,412 5,132 6,544 ​
Summary of repayment years for borrowings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2024 ​ Short-term bank loans, overdrafts and commercial paper GBPm Term debt GBPm Lease liabilities GBPm Total GBPm Short-term bank loans, overdrafts and commercial paper GBPm Term debt GBPm Lease liabilities GBPm Total GBPm Within 1 year 220 1,036 57 1,313 762 612 38 1,412 Within 1 to 2 years - 620 19 639 - 619 13 632 Within 2 to 3 years - 647 18 665 - 412 12 424 Within 3 to 4 years - 432 17 449 - 658 12 670 Within 4 to 5 years - 689 9 698 - 753 9 762 After 5 years - 2,712 21 2,733 - 2,625 19 2,644 After 1 year - 5,100 84 5,184 - 5,067 65 5,132 Total 220 6,136 141 6,497 762 5,679 103 6,544
Analysis of borrowings by currency	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2024 ​ Short-term bank loans, overdrafts and commercial paper GBPm Term debt GBPm Lease liabilities GBPm Total GBPm Short-term bank loans, overdrafts and commercial paper GBPm Term debt GBPm Lease liabilities GBPm Total GBPm US dollar 188 2,234 37 2,459 446 2,246 21 2,713 Pound sterling - - 29 29 8 - 30 38 Euro 24 3,902 47 3,973 295 3,433 29 3,757 Other currencies 8 - 28 36 13 - 23 36 Total 220 6,136 141 6,497 762 5,679 103 6,544

Lease arrangements (Tables)

Lease arrangements (Tables)	12 Months Ended
	Dec. 31, 2024
Lease arrangements
Summary of right-of-use assets	Right-of-use assets ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm At start of year 145 113 Additions 38 32 Remeasurement 6 5 Disposals (7) (9) Depreciation (65) (50) Exchange translation differences (4) (2) At end of year 113 89 ​
Summary of lease liability	Lease liability ​ ​ ​ ​ ​ ​ 2023 GBPm 2024 GBPm Current Property (55) (37) Non-property (2) (1) Non-current Property (82) (63) Non-property (2) (2) Total (141) (103)

Share capital, share premium an

Share capital, share premium and shares held in treasury (Tables)	12 Months Ended
	Dec. 31, 2024
Share capital and shares held in treasury
Summary of called up share capital issued and fully paid	RELX PLC ​ ​ ​ ​ ​ ​ ​ ​ ​ CALLED UP SHARE CAPITAL – ORDINARY SHARES OF UK 14 ⁵¹/₁₁₆ PENCE EACH ALLOTTED, ISSUED AND FULLY PAID No. of shares 2023 GBPm No. of shares 2024 GBPm At start of year 1,934,880,088 279 1,906,907,605 275 Issue of ordinary shares 3,027,517 - 2,937,114 - Cancellation of ordinary shares ​ (31,000,000) ​ (4) ​ (29,000,000) ​ (3) At end of year 1,906,907,605 275 1,880,844,719 ​ 272
Summary of share capital	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ NUMBER OF ORDINARY SHARES ​ Year ended 31 December ​ ​ 2023 Shares in issue net of treasury shares* (millions) ​ Shares in issue (millions) Treasury shares (millions) 2024 Shares in issue net of treasury shares* (millions) At start of year ​ 1,909.5 1,906.9 (25.4) 1,881.5 Issue of ordinary shares ​ 3.0 2.9 - 2.9 Repurchase of ordinary shares ​ (30.9) - (28.9) (28.9) Net (purchase)/release of shares by the Employee Benefit Trust ​ (0.1) - ​ 0.4 ​ 0.4 Cancellation of ordinary shares ​ - ​ (29.0) ​ 29.0 ​ - At end of year ​ 1,881.5 1,880.8 ​ (24.9) ​ 1,855.9 * At 31 December 2024 the total shares in issue net of treasury shares is 1,855,941,895 (2023: 1,881,531,883 ).

Other reserves (Tables)

Other reserves (Tables)	12 Months Ended
	Dec. 31, 2024
Other reserves and translation reserve
Summary of other reserves and translation reserve	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total 2023 GBPm Translation reserve 2024 GBPm ​ Hedge reserve 2024 GBPm Other reserves 2024 GBPm ​ Total 2024 GBPm At start of year ​ 2,394 392 ​ 27 1,761 ​ 2,180 Profit attributable to shareholders ​ 1,781 - ​ - 1,934 ​ 1,934 Dividends paid ​ (1,059) - ​ - (1,121) ​ (1,121) Actuarial (losses)/gains on defined benefit pension schemes ​ (75) - ​ - 43 ​ 43 Fair value movements on cash flow hedges ​ 29 - ​ 11 - ​ 11 Transfer to profit from cash flow hedge reserve ​ 18 - ​ (20) - ​ (20) Tax recognised in other comprehensive income ​ 7 - ​ 3 ​ (11) ​ (8) Exchange differences on translation of foreign operations ​ (285) 175 ​ - - ​ 175 Cancellation of shares ​ (673) - ​ - (850) ​ (850) Increase in share based remuneration reserve (including tax) ​ 77 - ​ - 79 ​ 79 Settlement of share awards ​ (34) - ​ - (53) ​ (53) Acquisition of non ‐ controlling interests ​ - - ​ - (44) ​ (44) At end of year ​ 2,180 567 ​ 21 1,738 ​ 2,326

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2024
Related party transactions
Summary of key management personnel remuneration	​ ​ ​ ​ ​ ​ ​ ​ KEY MANAGEMENT PERSONNEL REMUNERATION 2022 GBPm 2023 GBPm 2024 GBPm Salaries, other short-term employee benefits and non-executive fees ​ 7 ​ 8 ​ 8 Share based remuneration* ​ 7 14 14 Total ​ 14 22 22
Summary of executive directors remuneration	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ EXECUTIVE DIRECTORS ​ Salary GBP’000 Benefits GBP’000 Annual incentive GBP’000 Share based remuneration* GBP’000 Pension* GBP’000 Total GBP’000 Total Executive Directors 2022 2,137 97 3,251 6,857 268 12,610 ​ 2023 2,190 ​ 97 ​ 3,808 ​ 14,354 ​ 241 20,690 ​ 2024 2,245 ​ 109 ​ 3,576 ​ 14,322 ​ 247 20,499 * The figures for share based awards are calculated in accordance with the methodology set out in the UK adopted International Accounting Standards and International Financial Reporting Standards as issued by the International Accounting Standards Boards (IASB). The figure for performance-related share based awards includes share price appreciation since the date the award was granted. Please see page 104 for further details. Pension is calculated in accordance with the methodology set out in the UK Regulations.
Summary of non-executive directors remuneration	​ ​ ​ ​ ​ ​ ​ ​ NON-EXECUTIVE DIRECTORS 2022 GBP’000 2023 GBP’000 2024 GBP’000 Fees and benefits ​ 1,566 ​ 1,566 ​ 1,781

Exchange rates (Tables)

Exchange rates (Tables)	12 Months Ended
	Dec. 31, 2024
Exchange rates
Summary of exchange rates in preparing consolidated financial statements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income statement Statement of financial position ​ 2022 2023 2024 2023 2024 Euro to sterling ​ 1.17 1.15 1.18 1.15 1.21 US dollar to sterling ​ 1.24 1.24 1.28 1.28 1.25 ​

Related undertakings (Tables)

Related undertakings (Tables)	12 Months Ended
	Dec. 31, 2024
Related party transactions
Summary of full list of related undertakings	​ ​ ​ ​ Company name Share class Reg office Australia ​ ​ LNRS Data Services (Australia) Pty Ltd Ordinary AUS1 Reed Exhibitions Australia Pty Limited Ordinary AUS2 RELX Holdings Australia Pty Ltd Ordinary AUS2 RELX Trading Australia Pty Limited Ordinary AUS2 ​ ​ ​ Austria ​ ​ LexisNexis Verlag ARD ORAC GmbH & Co KG Partnership Interest AUT2 ORAC GmbH Ordinary AUT2 RELX Austria GmbH Ordinary AUT3 RX CEE GmbH Ordinary AUT1 RX Salzburg GmbH Ordinary AUT3 Seminar Oberlaa GmbH Ordinary AUT4 ​ ​ ​ Belgium ​ ​ LexisNexis BV Ordinary BEL1 Henchman B.V. Ordinary BEL2 ​ ​ ​ Brazil ​ ​ Elsevier Editora Limiteda Quotas BRA1 Gestora de Inteligencia de Credito S.A. (20%) Preferred, Ordinary BRA6 LexisNexis Informacoes e Sistemas Empresariais Limiteda Quotas BRA4 LexisNexis Servicos de Analise de Risco Limiteda Quotas BRA5 MLex Brasil Midia Mercadologica Limiteda Quotas BRA3 Reed Exhibitions Alcantara Machado Limiteda Quotas BRA2 ​ ​ ​ Canada ​ ​ Corps Events IntCan Class A Voting CAN3 Elsevier Canada Inc. Class A Common CAN2 Human API Technologies Inc. Voting CAN4 LexisNexis Canada Inc. Class B Voting CAN1 PCLaw Time Matters Canada Inc. Common CAN5 ​ ​ ​ China ​ ​ Bakery China Exhibitions Co., Limited (25%) Ordinary CHN1 Beijing Medtime Elsevier Education Technology Co., Limited (49%) Common CHN2 Beijing Reed Elsevier Science and Technology Co Ltd 1 Common CHN19 C-One Energy (Guangzhou) Co., Limited Ordinary CHN5 Jingxunlingsi (Beijing) Information Technology Co Ltd 1 Ordinary CHN4 KeAi Communications Co., Limited (49%) Ordinary CHN15 LexisNexis Information Technology Co. Limited Ordinary CHN4 LexisNexis Risk Solutions (Shanghai) Information Technologies Co Limited Common CHN7 LNRS Data Services (Shanghai) Co Limited Ordinary CHN13 Peili Computer Co Ltd 1 Ordinary CHN13 Reed Elsevier Information Technology (Beijing) Co Limited Common CHN3 Reed Exhibitions (China) Co., Limited Ordinary CHN4 Reed Exhibitions Hengjin Co., Limited (51%) Ordinary CHN12 Reed Exhibitions Kuozhan (Shanghai) Co., Limited (60%) Ordinary CHN8 Reed Huabai Exhibitions (Beijing) Co., Limited (51%) Ordinary CHN4 RX Huabo Exhibitions (Shenzhen) Co., Limited (65%) Ordinary CHN16 Reed Huaqun Exhibitions Co., Limited (52%) Ordinary CHN4 Reed Sinopharm Exhibitions Co., Limited (50%) Ordinary CHN4 RX (China) Investment Co., Limited Ordinary CHN9 RX (Shenzhen) Co., Limited Ordinary CHN6 RX Huabo (Shenzhen) Technology Co. Limited 1 Ordinary CHN16 RX Technology (Shanghai) Co. Limited 1 Ordinary CHN18 Shanghai Datong Medical Information Technology Co., Limited Ordinary CHN17 Shanghai SinoReal Exhibitions Co., Limited (27.5%) Ordinary CHN11 Tianjin Beikeqilong Exhibition Services Limited (12.5%) Ordinary CHN10 Z&R Exhibitions Co., Limited (27.5%) Ordinary CHN14 ​ ​ ​ Colombia ​ ​ LexisNexis Risk Solutions SAS Ordinary COL1 ​ ​ ​ Denmark ​ ​ Elsevier A/S Ordinary DNK1 ​ ​ ​ Egypt ​ ​ Elsevier Egypt LLC Ordinary EGY1 ​ ​ ​ ​ Company name Share class Reg office France ​ ​ Elsevier Holding France SAS Ordinary FRA1 Elsevier Masson SAS Ordinary FRA1 Fircosoft SAS Ordinary FRA6 GIE EDI Data (83%) Ordinary FRA2 GIE Juris Data Ordinary FRA2 LexisNexis Business Information Solutions SA Ordinary FRA2 LexisNexis Business Information Solutions Holding SA Ordinary FRA4 LexisNexis SA Ordinary FRA2 Reed Exhibitions ISG SARL Ordinary FRA3 RELX France SAS Ordinary FRA3 RELX France Services SAS Ordinary FRA6 RX France SAS Ordinary FRA3 SAFI Salon Français et Internationaux (50%) Ordinary FRA5 ​ ​ ​ Germany ​ ​ Elsevier GmbH Ordinary DEU2 IPlytics GmbH Ordinary DEU6 LexisNexis GmbH Ordinary DEU3 PatentSight GmbH Ordinary DEU5 RELX Deutschland GmbH Ordinary DEU1 RX Deutschland GmbH Ordinary DEU7 Tschach Solutions GmbH Ordinary DEU4 ​ ​ ​ Hong Kong ​ ​ Ascend China Holding Limited Ordinary HNK4 JC Exhibition and Promotion Limited (65%) Ordinary HNK4 JYLN Sager Limited Ordinary HNK2 LNRS Data Services (China) Limited Ordinary HNK1 Reed Exhibitions Limited Ordinary HNK4 RELX (Greater China) Limited Ordinary HNK3 ​ ​ ​ India ​ ​ FircoSoft India Private Limited Ordinary IND2 Reed Elsevier Publishing (India) Private Limited Ordinary IND1 Reed Manch Exhibitions Private Limited Ordinary IND1 Reed Triune Exhibitions Private Limited Ordinary IND1 RELX India Private Limited Ordinary IND1 ​ ​ ​ Indonesia ​ ​ PT Reed Exhibitions Indonesia (70%) Series A, Series B IDN1 PT RELX Information Analytics Indonesia Common IDN2 ​ ​ ​ Irish Republic ​ ​ Elsevier (Ireland) Limited Ordinary IRL2 LexisNexis Risk Solutions (Europe) Limited Ordinary IRL1 RELX International Finance Designated Activity Company Ordinary IRL1 ​ ​ ​ Israel ​ ​ LexisNexis Israel Ltd Ordinary ISR1 ​ ​ ​ Italy ​ ​ Elsevier SRL Registered Capital ITA1 ICIS Italia SRL Ordinary ITA2 RX Italy SRL Ordinary ITA1 ​ ​ ​ Japan ​ ​ Elsevier Japan KK Ordinary JPN1 LexisNexis Japan KK Ordinary JPN2 RX Japan Ltd Ordinary JPN2 ​ ​ ​ Kingdom of Saudi Arabia ​ ​ RX Arabia LLC Ordinary KSA1 ​ ​ ​ Korea (Republic of) ​ ​ Elsevier Korea LLC Ordinary KOR1 LexisNexis Legal and Professional Service Korea Limited Ordinary KOR1 Reed Exhibitions Korea Limited Ordinary KOR2 Reed Exporum Limited (60%) Ordinary KOR3 Reed K. Fairs Limited (70%) Ordinary KOR4 ​ 28 Related undertakings (continued) ​ ​ ​ Company name Share class Reg office Macau ​ ​ Reed Exhibitions Macau Limited Ordinary MAC1 ​ ​ ​ Malaysia ​ ​ LexisNexis Malaysia Sdn Bhd Ordinary MYS1 ​ ​ ​ Mexico ​ ​ Human API Technologies, S. de R.L. de C.V. Fixed MEX2 Masson-Doyma Mexico, S.A. Ordinary MEX1 Reed Exhibitions Mexico S.A. de C.V. Fixed MEX1 ​ ​ ​ Netherlands ​ ​ AGRM Solutions C.V. Partnership Interest NLD1 Caselex B.V. Ordinary NLD1 Elsevier B.V. Ordinary NLD1 ICIS Benchmarking Europe B.V. Ordinary NLD1 LexisNexis Business Information Solutions B.V. Ordinary NLD1 LNRS Data Services B.V. Ordinary NLD1 Misset Uitgeverij B.V. (49%) Ordinary NLD2 RELX Employment Company B.V. Ordinary NLD1 RELX Finance B.V. Ordinary NLD1 RELX Holdings B.V. Ordinary NLD1 RELX Nederland B.V. Ordinary NLD1 RELX Overseas B.V. Ordinary RE NLD1 ​ ​ ​ New Zealand ​ ​ LexisNexis NZ Limited Ordinary NZL1 ​ ​ ​ Philippines ​ ​ Reed Elsevier Shared Services (Philippines) Inc. Common PHL1 ​ ​ ​ Poland ​ ​ AI Digital Contracts Sp. z.o.o. Ordinary POL1 Elsevier Sp. z.o.o. Ordinary POL2 ​ ​ ​ Singapore ​ ​ Elsevier (Singapore) Pte Limited Ordinary SGP1 LNRS Data Services Pte Limited Ordinary SGP1 RE (HAPL) Pte Limited Ordinary SGP1 RELX (Singapore) Pte Limited Ordinary SGP2 ​ ​ ​ South Africa ​ ​ LexisNexis (Pty) Limited (78%) Ordinary ZAF1 LexisNexis Risk Management (Pty) Limited (78%) Ordinary ZAF1 LexisNexis South Africa Shared Services (Pty) Limited Ordinary ZAF1 Reed Events Management (Pty) Limited (90%) Ordinary ZAF1 Reed Exhibitions (Pty) Limited (90%) Ordinary ZAF1 Reed Exhibitions Group (Pty) Limited (90%) Ordinary ZAF1 Reed Venue Management (Pty) Limited (90%) Ordinary ZAF1 RELX (Pty) Limited Ordinary ZAF1 ​ ​ ​ Spain ​ ​ Elsevier Espana S.L.U Participations ESP1 ​ ​ ​ Sweden ​ Behaviometrics AB A, B, and C shares SWE1 ​ ​ ​ Taiwan ​ ​ Elsevier Taiwan LLC Ordinary TWN1 ​ ​ ​ Thailand ​ ​ Reed Tradex Company Limited (49%) Ordinary THA1 RELX Holding (Thailand) Co., Limited Ordinary THA2 RELX Information Analytics (Thailand) Co., Limited Ordinary THA3 ​ ​ ​ Turkey ​ ​ Elsevier STM Bilgi Hizmetleri Limited Sirketi Ordinary TUR1 Reed Tuyap Fuarcilik A.S. (50%) A Ordinary, B Ordinary TUR2 ​ ​ ​ United Arab Emirates ​ ​ Reed Exhibitions FZ-LLC Ordinary UAE1 RELX Middle East FZ-LLC Ordinary UAE2 ​ ​ ​ ​ Company name Share class Reg office United Kingdom ​ ​ Aistemos Limited Ordinary GBR3 Butterworths Limited Ordinary GBR3 Cordery Compliance Limited (71%) Ordinary GBR3 Cordery Limited (71%) Ordinary GBR3 Crediva Limited Ordinary GBR4 Elsevier Limited Ordinary GBR5 Interfolio UK Limited Ordinary GBR6 LexisNexis Risk Solutions UK Limited Ordinary GBR4 LNRS Data Services Holdings Limited Ordinary GBR1 LNRS Data Services Limited Ordinary GBR1 Mack-Brooks Exhibitions Limited Ordinary GBR2 MLex Limited Ordinary GBR3 Offshore Europe (Management) Limited Ordinary GBR2 Offshore Europe Partnership (50%) Partnership Interest GBR2 RE (HPL) Limited Ordinary GBR1 RE (RCB) Limited Ordinary GBR1 RE Secretaries Limited Ordinary GBR1 RE (SOE) Limited Ordinary GBR2 Reed Events Limited Ordinary GBR2 Reed Exhibitions Limited Ordinary GBR2 RELX Finance Limited Ordinary GBR1 RELX Group plc 2 Ordinary GBR1 RELX (Holdings) Limited Ordinary GBR1 RELX (Investments) plc Ordinary GBR1 Reed Nominees Limited Ordinary GBR1 RELX Overseas Holdings Limited Ordinary GBR1 RELX (UK) Limited Ordinary GBR1 REV GP (UK) LLP (50%) Membership Interest GBR1 REV Venture Partners Limited Ordinary GBR1 REV V LP Partnership Interest GBR1 SciBite Limited Ordinary GBR6 Sustainable Energy Conferences Limited Ordinary GBR3 Tracesmart Limited Ordinary GBR4 ​ ​ ​ United States ​ ​ Accuity Asset Verification Services Inc. Common Stock USA1 American Textile Machinery Exhibition-International, Inc. (40%) Common Stock USA2 Aries Systems Corporation Common Stock USA2 Dunlap-Hanna Publishers (50%) Partnership Interest USA2 Elsevier Holdings Inc. Common Stock USA3 Elsevier Inc. Common Stock USA2 Elsevier STM Inc. Common Stock USA3 Enclarity, Inc. Common Stock USA1 Gaming Business Asia, LLC (50%) Membership Interest USA2 Health Market Science, Inc. Common Stock USA1 HumanAPI Inc. Common Stock USA1 ID Analytics, LLC Membership Interest USA1 Jarvis Software LLC Membership Interest USA2 Knovel Corporation Common Stock USA2 Knowable Inc Common Stock USA2 Legal InQuery Solutions Inc. Common Stock USA5 LexisNexis Claims Solutions Inc. Common Stock USA1 LexisNexis Coplogic Solutions Inc. Common Stock USA1 LexisNexis of Puerto Rico, Inc. Common Stock USA7 LexisNexis Risk Data Management, LLC Membership Interest USA1 LexisNexis Risk Holdings Inc. Common Stock USA1 LexisNexis Risk Solutions Inc. Common Stock USA1 LexisNexis Risk Solutions FL Inc. Common Stock USA1 LexisNexis Special Services Inc. Common Stock USA4 LexisNexis VitalChek Network Inc. Common Stock USA1 LNRS Data Services Inc. Common Stock USA1 Matthew Bender & Company, Inc. Common Stock USA2 MLex US, Inc. Common Stock USA2 PCLaw Time Matters LLC (51%) Membership Interest USA8 Portfolio Media, Inc. Common Stock USA2 Reed Technology and Information Services LLC Membership Interest USA2 RELX Capital Inc. Common Stock USA3 RELX Inc. Common Stock USA2 RELX Risks Inc. Common Stock USA6 ​ ​ ​ ​ 28 Related undertakings (continued) ​ ​ ​ Company name Share class Reg office United States ​ ​ REV IV Partnership LP Partnership Interest USA3 SAFI Americas LLC (50%) Membership Interest USA2 SageStream, LLC Membership Interest USA1 The Reed Elsevier Ventures 2011 Partnership LP Partnership Interest USA3 The Reed Elsevier Ventures 2013 Partnership LP Partnership Interest USA3 The Remick Publishers (50%) Partnership Interest USA2 ThreatMetrix, Inc. Common Stock USA1 World Compliance, Inc. Common Stock USA1 ​ ​ ​ Vietnam ​ ​ Reed Tradex Vietnam LLC Ordinary VIE1 ​ ​ ​ ​ ​ Registered offices Australia ​ AUS1: Building B, Level 2, Unit 11, 1 Maitland Place, Baulkham Hills, NSW 2153 AUS2: Tower 2, Level 1, 475 Victoria Avenue, Chatswood NSW 2067 ​ ​ Austria ​ AUT1: Messeplatz 1, 1020, Vienna AUT2: Trabrennstrasse 2A,1020, Vienna AUT3: Am Messezentrum 6, 5021, Salzburg AUT4: Nikolaus-Pytty-Gasse 9, 1140 Wien ​ ​ Belgium ​ BEL1: Oudenaardseheerweg 129, 9810 Nazareth BEL2: Moutstraat 64, bus 502, 9000 Ghent, Belgium ​ ​ Brazil ​ BRA1: Av. Almirante Barroso 81, Sala 33A114, 20031-004 Centro, Rio de Janeiro BRA2: Rua Bela Cintra no. 1200, 10th floor, Sao Paulo, 01415-002 BRA3: Avenida Paulista 2300, Andar Pilotis, Sao Paulo, SP 01 310-300 BRA4: Rua Funchal, 538, 4º Andar, Conj. 42, Salas 4, 5 e 6, Vila Olímpia, Sao Paulo, 04551-060 BRA5: Alameda Rio Negro, 161 Alphaville Industrial, Barueri, Sao Paulo 06.454-000 BRA6: Alameda Araguaia, Alphaville, Conjuntos 81-84, Centro Empresarial Araguaia, Barueri, Sao Paulo ​ 2104, 8-9 Andar ​ ​ Canada ​ CAN1: 111 Gordon Baker Road, Suite 900, Toronto, Ontario, M2H 3R1 CAN2: 26E-1501 av. McGill College, Montreal, Quebec, H3A 3N9 CAN3: 555 Richmond Street West, Suite 405, Toronto ON M5V 3B1 CAN4: 20th Floor, 250 Howe Street, Vancouver BC, V6C 3R8 CAN5: 199 Bay Street, 4000, Toronto, Ontario, M5L 1A9 ​ ​ China ​ CHN1: Zhongkun Building, Room 612, Gaoliangqiaoxie Street, No. 59, Haidan District, Beijing, 100044 CHN2: Room 516, 5th Floor, Building 22, Area 11, No. 38, Xueyuan Road, Haidian District, Beijing, 100191 CHN3: Oriental Plaza, No. 1 East Chang An Ave, Tower W1, 7th Floor, Unit 1-7, Dong Cheng District, Beijing, 100738 CHN4: Ping An International Finance Centre, Room 1504-1505, 15th Floor, Tower A-101, 3-24 Floor, Xinyuan South Road, Chaoyang District, Beijing, 100027 CHN5: Unit B1303-1 & 1305, 13F Center Plaza, 161 Linhe Road West, Tianhe District Guangzhou CHN6: Unit 303, 3F, Tower 3 Kerry Plaza ,No.1 Zhong Xin Si Road, Fu Tian District, Shenzhen CHN7: Unit A-1, 5th Floor, No. 567, Tianshan West Road, Changning District, Shanghai CHN8: Intercontinental Center, 42F, 100 Yutong Road, Zhabei District, Shanghai, 200070 CHN9: Room 319, 238 Jiangchangsan Road, Jing’an District, Shanghai CHN10: Room 1201, Yinhe Building, Yuexiu Road, Hexi District, Tianjin, 300201 CHN11: Building 2, Room No. 3895, Changjiang Avenue, No. 161, Changliang Farm, Chongming County, Shanghai CHN12: Floor 2, No.979, Yunhan Road, Nicheng Town, Pudong New District, Shanghai, 200000 CHN13: 4/F Block 3, No 999 Jingzhong Road, Changning District, Shanghai CHN14: A0208, 1st Floor, Building 2, Yard 66, Yanfu Road, Yancun Tow, Fangshan District, Beijing CHN15: 16 Donghuangchenggen North Street, Beijing, 100717 CHN16: Shenzhen International Chamber of Commerce Tower, Room 1801-1802, 1805, Fuhua 3rd Road, Futian District, Shenzhen, 518048 CHN17: 5/F Unit A, Digital China Centre No. 567 Tianshan West Road, ChangNing District, Shanghai, 200335 CHN18: Room 726, 1256-1258 Wan Rong Road, Jing An District, Shanghai CHN19: Oriental Plaza, No. 1 East Chang An Ave, Tower W1, 7th Floor, Unit 12C, Dong Cheng District, Beijing, 100738 ​ ​ Colombia ​ COL1: Philippe Prietocarrizosa & Uria Abogados, Carrera 9 No. 74-08 Oficina 105, Bogota, d.c., 76600 ​ ​ Denmark ​ DNK1: Niels Jernes Vej 10, 9220, Aalborg East ​ ​ Egypt ​ EGY1: Land Mark Office Building, 2nd Floor, 90th Street, City Center, 5th Settlement, New Cairo, Cairo 28 Related undertakings (continued) ​ ​ Registered offices France ​ FRA1: 65 Rue Camille Desmoulins, 92130, Issy les Moulineaux FRA2: 141 rue de Javel, 75015, Paris FRA3: 52 Quai de Dion Bouton, 92800, Puteaux FRA4: Immeuble Technopolis, 350 rue Georges Besse, 30000, Nimes FRA5: 6-8 rue Chaptal, 75009, Paris FRA6: Immeuble Vivacity, 151-155 rue de Bercy, 75012, Paris ​ ​ Germany ​ DEU1: Volklinger Strasse 4, 40219, Dusseldorf DEU2: Bernhard-Wicki-Strasse 3/5 80636 München DEU3: Heerdter Sandberg 30, 40549, Dusseldorf DEU4: Stephanienstrasse 86, 76133 Karlsruhe DEU5: Joseph-Schumpeter-Allee 33, 53227, Bonn DEU6: Ohlauer Str. 43, Aufgang C, c/o Thunderbolt Collective, 10999, Berlin DEU7: Johannstrasse 1, 40476 Düsseldorf ​ ​ Hong Kong ​ HNK1: Room 1917, 19/F, Lee Garden One, 33 Hysan Avenue, Causeway Bay HNK2: 1505,15th Floor, Tower A, Ping An International Finance Center HNK3: 11/F Oxford House, Taikoo Place, 979 King’s Road, Quarry Bay HNK4: 17th Floor, One Island East, Taikoo Place, 18 Westlands Road, Quarry Bay ​ ​ India ​ IND1: 818, 8th Floor, Indraprakash Building, 21 Barakhamba Road, New Delhi, Delhi, 110001 IND2: Ascendas International Tech Park, Crest Building 12th Floor, Taramani Road, Taramani, Chennai, 600113 ​ ​ Indonesia ​ IDN1: APL Tower Central Park 26th Floor Unit T3 Jl. S. Parman Kav., 28, Grogol, Pertamburan Jakarta Barat 11470 IDN2: Gedung World Trade Center, 3 Lt. 20 Spaces JL Jend Sudirman Kav 29-31, Karet Kuningan, Setiabudi,Kota Adm. Jakarta Selatan, DKI Jakarta 12940 ​ ​ Irish Republic IRL1: Riverside One, Sir John Rogerson’s Quay, Dublin 2, DO2 X576 IRL2: 4th Floor, South Block, Rockfield Central, Dundrum, Dublin, D16 R6VO ​ ​ Israel ​ ISR1: Meitar, Attorneys at Law, 16 Abba Hillel Road, Ramat Gan 5250608 ​ ​ ​ Italy ​ ITA1: Via Marostica 1, 20146, Milan ITA2: Studio Colombo e Associati, Via San Damiano 9, 20122, Milan ​ ​ Japan ​ JPN1: 1-9-15 Higashi-Azabu, Minato-Ku Tokyo 106-0044 JPN2: 11F, Yaesu Central Tower, Tokyo Midtown Yaesu, 2-2-1 Yaesu Chuo-ku, Tokyo 104-0028 ​ ​ Kingdom of Saudi Arabia KSA1: Riyadh, Financial Boulevard 13519, Al Aqeeq District ​ ​ Korea (Republic of) KOR1: 206 Noksapyeong-daero, Yongsan-gu, 140-861, Seoul KOR2: 1622-24 Block A, Tera Tower II, 201 Songpa-daero, Songpa-gu, Seoul KOR3: Story 2003 Bldg, 5, Baekjegobun-ro 9-gil, Songpa-gu, Seoul, 05561, Republic of Korea KOR4: 1602-03 Block A, Tera Tower II, 201 Songpa-daero, Songpa-gu, Seoul, Korea ​ ​ Macau ​ MAC1: Rua De Xangai, No. 175 Edif. Associacao Comercial de Macau, 11 Andar, Bloco K ​ ​ Malaysia ​ MYS1: Suite 29-1, Level 29, Vertical Corporate, Tower B, Avenue 10, The Vertical, 59200 Bangsar South City, Kuala Lumpur Mexico ​ MEX1: Avenida Paseo de la Reforma 243, Piso 15, Col. Cuauhtemoc, Mexico City, 06500 MEX2: Av. Miguel Hidalgo y Costilla 1995, piso 6 oficina 10 , Ladron de Guevara, Guadalajara, Jalisco, 44600 ​ ​ Netherlands ​ NLD1: Radarweg 29, 1043 NX Amsterdam NLD2: Hanzestraat 1, 7006RH Doetinchem ​ ​ ​ ​ ​ Registered offices New Zealand ​ NZL1: Level 1, 138 The Terrace, P.O. Box 472, Wellington 6011 ​ ​ Philippines ​ PHL1: Building H, 2nd Floor, U.P. Ayalaland TechnoHub, Commonwealth Avenue, Quezon City, Metro Manila, 1101 ​ ​ Poland ​ POL1: Plac Grunwaldzki 23-27, 50-365 Wroclaw POL2: Al. JJana Pawla II, 22, 00-133, Warszawa ​ ​ Singapore ​ SGP1: 3 Killiney Road, #08-01, Winsland House 1, 239519 SGP2: 9 Raffles Place, #26-01, Republic Plaza, 048619 ​ ​ South Africa ​ ZAF1: Building 8, Country Club Estate Office Park, 21 Woodlands Drive, Woodmead, Gauteng, 2191 ​ ​ Spain ​ ESP1: C/ Josep Tarradellas 20-30, 1º / 20029, Barcelona ​ ​ Sweden ​ SWE1: Aurorum 8, 977 75 Lulea ​ ​ Taiwan ​ TWN1: RM. N905, 9F., No. 96, Sec. 2, Zhongshan N. Rd., Zhongshan Dist, Taipei, 10449 ​ ​ Thailand ​ THA1: Sathorn Nakorn Building, Floor 32, No. 100/68-69 North Sathon Road, Silom, Bangrak, Bangkok, 10500 THA2: 14th Floor, CTI Tower, 191/70-73 Ratchadapisek Road, Khwaeng Klongtoey, Klongtoey, Bangkok, 10110 THA3: The Offices at Central World, Office R06, 999/9 Rama I Road, Pathumwan, Bangkok 10330 ​ ​ Turkey ​ TUR1: Maslak Mah. Bilim Sokak Sun Plaza Kat:13 Sisli-Maslak, Istanbul TUR2: Tuyap Fuar ve Kongre Merkezi, Cumhuriyet Mah. Hadimkoy Yolu Cad. No:9/4 , 34500 Buyukcekmece, Istanbul ​ ​ United Arab Emirates UAE1: Office 303, 3rd Floor Arjaan Office Tower Al Sufouh Complex, PO Box 502425, Dubai Media City, Dubai UAE2: Al Sufouh Complex, Office nos. 404, 405, 406 & 407, Dubai Media City, Dubai ​ ​ United Kingdom ​ GBR1: 1-3 Strand, London, WC2N 5JR GBR2: Gateway House, 28 The Quadrant, Richmond, Surrey, TW9 1DN GBR3: Lexis House, 30 Farringdon Street, London, EC4A 4HH GBR4: Global Reach, Dunleavy Drive, Cardiff, CF11 0SN GBR5: 125 London Wall, London, EC2Y 5AS GBR6: Biodata Innovation Centre Wellcome Genome Campus, Hinxton, Cambridge, CB10 1DR ​ ​ United States ​ USA1: 1000 Alderman Dr., Alpharetta, GA 30005 USA2: 230 Park Ave, New York, NY 10169 USA3: Suite 501, 1105 North Market St, Wilmington, DE 19801 USA4: 1150 18th St, NW, Washington, DC 20036 USA5: 9443 Springboro Pike, Miamisburg, OH 45342 USA6: c/o Aon Insurance Managers (USA) Inc, 100 Bank Street, Suite 630 Burlington, Vermont 05401 USA7: #1095 Wilson, Ste 3, San Juan, PR 00907 USA8: 2235 Gateway Access Point, Suite 300, Raleigh, NC, 27607 ​ ​ Vietnam ​ VIE1: 2nd Floor, Kova Center, 92G-92H Nguyen Huu Canh Street, Ward no. 22, District. Binh Thanh, Ho Chi Minh City ​ ​ 1 ​ Nominee companies controlled by the group based on management's assessments ​ ​ 2 ​ Directly held by the Company
Summary of subsidiaries taking advantage of audit exemption	​ ​ ​ Company name Registration number Aistemos Limited 08644182 Butterworths Limited 02826955 Cordery Compliance Limited 07931532 Crediva Limited 06567484 Interfolio UK Ltd (in dissolution) 07820803 LNRS Data Services Holdings Limited 00052790 Mack-Brooks Exhibitions Limited 00967560 MLex Limited 05488651 Offshore Europe (Management) Limited 02318214 RE (HPL) Limited 00598514 RE (RCB) Limited 03396524 RE (SOE) Limited 02330299 Reed Events Limited 05893942 Reed Nominees Limited (in dissolution) 00251020 RELX (Holdings) Limited 05807690 RELX (Investments) plc 05810043 RELX Overseas Holdings Limited 09489059 REV Venture Partners Limited 04226986 SciBite Limited 07778456 Sustainable Energy Conferences Limited 12157497 Tracesmart Limited 03827062 ​

5 year summary (Tables)

5 year summary (Tables)	12 Months Ended
	Dec. 31, 2024
5 year summary
Summary of 5 year summary	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 GBPm ​ ​ 2021 GBPm ​ ​ 2022 GBPm ​ ​ 2023 GBPm ​ ​ 2024 GBPm ​ RELX consolidated financial information ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Growth rates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Underlying revenue growth ​ ​ -9% ​ ​ +7% ​ ​ +9% ​ ​ +8% ​ ​ +7% ​ Underlying adjusted operating profit growth ​ ​ -18% ​ ​ +13% ​ ​ +15% ​ ​ +13% ​ ​ +10% ​ Adjusted earnings per share growth (at constant currency) ​ ​ -15% ​ ​ +17% ​ ​ +10% ​ ​ +11% ​ ​ +9% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted figures ¹ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue ​ ​ 7,110 ​ ​ 7,244 ​ ​ 8,553 ​ ​ 9,161 ​ ​ 9,434 ​ EBITDA ​ ​ 2,567 ​ ​ 2,697 ​ ​ 3,174 ​ ​ 3,544 ​ ​ 3,724 ​ Operating profit ​ ​ 2,076 ​ ​ 2,210 ​ ​ 2,683 ​ ​ 3,030 ​ ​ 3,199 ​ Operating margin ​ ​ 29.2% ​ ​ 30.5% ​ ​ 31.4% ​ ​ 33.1% ​ ​ 33.9% ​ Profit before tax ​ ​ 1,916 ​ ​ 2,077 ​ ​ 2,489 ​ ​ 2,716 ​ ​ 2,903 ​ Net profit attributable to shareholders ​ ​ 1,543 ​ ​ 1,689 ​ ​ 1,961 ​ ​ 2,156 ​ ​ 2,241 ​ Net margin ​ ​ 21.7% ​ ​ 23.3% ​ ​ 22.9% ​ ​ 23.5% ​ ​ 23.8% ​ Cash flow ​ ​ 2,009 ​ ​ 2,230 ​ ​ 2,709 ​ ​ 2,962 ​ ​ 3,101 ​ Cash flow conversion ​ ​ 97% ​ ​ 101% ​ ​ 101% ​ ​ 98% ​ ​ 97% ​ Return on invested capital ​ ​ 10.8% ​ ​ 11.9% ​ ​ 12.5% ​ ​ 14.0% ​ ​ 14.8% ​ Earnings per share ​ ​ 80.1p ​ ​ 87.6p ​ ​ 102.2p ​ ​ 114.0p ​ ​ 120.1p ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dividend ² ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ordinary dividend per share ​ ​ 47.0p ​ ​ 49.8p ​ ​ 54.6p ​ ​ 58.8p ​ ​ 63.0p ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reported figures ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue ​ 7,110 ​ ​ 7,244 ​ ​ 8,553 ​ ​ 9,161 ​ ​ 9,434 ​ Operating profit ​ 1,525 ​ ​ 1,884 ​ ​ 2,323 ​ ​ 2,682 ​ ​ 2,861 ​ Profit before tax ​ ​ 1,483 ​ ​ 1,797 ​ ​ 2,113 ​ ​ 2,295 ​ ​ 2,557 ​ Net profit attributable to shareholders ​ 1,224 ​ ​ 1,471 ​ ​ 1,634 ​ ​ 1,781 ​ ​ 1,934 ​ Net margin ​ ​ 17.2% ​ ​ 20.3% ​ ​ 19.1% ​ ​ 19.4% ​ ​ 20.5% ​ Net debt ​ ​ 6,898 ​ ​ 6,017 ​ ​ 6,604 ​ ​ 6,446 ​ ​ 6,563 ​ Earnings per share (pence) ​ 63.5p ​ ​ 76.3p ​ ​ 85.2p ​ ​ 94.1p ​ ​ 103.6p ​ (1) Adjusted figures are presented as additional performance measures used by management. Further details on the adjusted measures can be found in the Alternative performance measures section on pages 200 to 207. (2) Dividend per ordinary share is based on the interim dividend and proposed final dividend for the relevant year.

Revenue, operating profit and s

Revenue, operating profit and segment analysis - Additional information (Details) £ in Millions	12 Months Ended
	Dec. 31, 2024 GBP (£) segment	Dec. 31, 2023 GBP (£)	Dec. 31, 2022 GBP (£)
Disclosure of operating segments
Number of operating segments | segment	4
Aggregate amount of transaction price for performance obligations not yet delivered	£ 55	£ 83
Revenue recognition period	4 years
Share of results of joint ventures and associates	£ 43	46	£ 19
Risk
Disclosure of operating segments
Share of results of joint ventures and associates	0	(1)	2
Legal
Disclosure of operating segments
Share of results of joint ventures and associates	7	10	7
Exhibitions
Disclosure of operating segments
Share of results of joint ventures and associates	£ 36	£ 37	£ 10

Revenue, operating profit and_2

Revenue, operating profit and segment analysis - Summary of analysis by business segment (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of operating segments
Revenue	£ 9,434	£ 9,161	£ 8,553	£ 7,244	£ 7,110
Adjusted operating profit	3,199	3,030	2,683	£ 2,210	£ 2,076
Risk
Disclosure of operating segments
Revenue	3,245	3,133	2,909
Scientific, technical & medical
Disclosure of operating segments
Revenue	3,051	3,062	2,909
Legal
Disclosure of operating segments
Revenue	1,899	1,851	1,782
Exhibitions
Disclosure of operating segments
Revenue	1,239	1,115	953
Operating segments
Disclosure of operating segments
Revenue	9,434	9,161	8,553
Adjusted operating profit	3,210	3,042	2,712
Operating segments | Risk
Disclosure of operating segments
Revenue	3,245	3,133	2,909
Adjusted operating profit	1,228	1,165	1,078
Operating segments | Scientific, technical & medical
Disclosure of operating segments
Revenue	3,051	3,062	2,909
Adjusted operating profit	1,172	1,165	1,100
Operating segments | Legal
Disclosure of operating segments
Revenue	1,899	1,851	1,782
Adjusted operating profit	412	393	372
Operating segments | Exhibitions
Disclosure of operating segments
Revenue	1,239	1,115	953
Adjusted operating profit	398	319	162
Unallocated central costs and other operating items
Disclosure of operating segments
Adjusted operating profit	£ (11)	£ (12)	(29)
Charge related to STM, incurred from exchange rate movements from translation of working capital items and outcome of hedging program			£ 24

Revenue, operating profit and_3

Revenue, operating profit and segment analysis - Summary of classification of revenue (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue
Revenue	£ 9,434	£ 9,161	£ 8,553	£ 7,244	£ 7,110
Subscriptions
Revenue
Revenue	5,025	4,976	4,655
Transactional
Revenue
Revenue	4,409	4,185	3,898
Electronic
Revenue
Revenue	7,824	7,625	7,112
Face-to-face
Revenue
Revenue	1,189	1,060	912
Print
Revenue
Revenue	421	476	529
North America
Revenue
Revenue	5,495	5,386	5,101
Europe
Revenue
Revenue	2,025	1,908	1,800
United Kingdom
Revenue
Revenue	613	602	544
Rest of world
Revenue
Revenue	1,914	1,867	1,652
Risk
Revenue
Revenue	3,245	3,133	2,909
Risk | Subscriptions
Revenue
Revenue	1,260	1,255	1,135
Risk | Transactional
Revenue
Revenue	1,985	1,878	1,774
Risk | Electronic
Revenue
Revenue	3,226	3,111	2,890
Risk | Face-to-face
Revenue
Revenue	16	14	11
Risk | Print
Revenue
Revenue	3	8	8
Risk | North America
Revenue
Revenue	2,563	2,476	2,317
Risk | Europe
Revenue
Revenue	443	429	384
Risk | Rest of world
Revenue
Revenue	239	228	208
Scientific, technical & medical
Revenue
Revenue	3,051	3,062	2,909
Scientific, technical & medical | Subscriptions
Revenue
Revenue	2,250	2,261	2,139
Scientific, technical & medical | Transactional
Revenue
Revenue	801	801	770
Scientific, technical & medical | Electronic
Revenue
Revenue	2,785	2,762	2,573
Scientific, technical & medical | Face-to-face
Revenue
Revenue	6	7	5
Scientific, technical & medical | Print
Revenue
Revenue	260	293	331
Scientific, technical & medical | North America
Revenue
Revenue	1,411	1,439	1,391
Scientific, technical & medical | Europe
Revenue
Revenue	656	666	614
Scientific, technical & medical | Rest of world
Revenue
Revenue	984	957	904
Legal
Revenue
Revenue	1,899	1,851	1,782
Legal | Subscriptions
Revenue
Revenue	1,515	1,460	1,381
Legal | Transactional
Revenue
Revenue	384	391	401
Legal | Electronic
Revenue
Revenue	1,730	1,667	1,582
Legal | Face-to-face
Revenue
Revenue	11	9	10
Legal | Print
Revenue
Revenue	158	175	190
Legal | North America
Revenue
Revenue	1,290	1,254	1,213
Legal | Europe
Revenue
Revenue	399	386	357
Legal | Rest of world
Revenue
Revenue	210	211	212
Exhibitions
Revenue
Revenue	1,239	1,115	953
Exhibitions | Transactional
Revenue
Revenue	1,239	1,115	953
Exhibitions | Electronic
Revenue
Revenue	83	85	67
Exhibitions | Face-to-face
Revenue
Revenue	1,156	1,030	886
Exhibitions | North America
Revenue
Revenue	231	217	180
Exhibitions | Europe
Revenue
Revenue	527	427	445
Exhibitions | Rest of world
Revenue
Revenue	£ 481	£ 471	£ 328

Revenue, operating profit and_4

Revenue, operating profit and segment analysis - Summary of analysis of revenue by geographical origin (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Geographical Areas
Revenue	£ 9,434	£ 9,161	£ 8,553	£ 7,244	£ 7,110
North America
Disclosure Of Geographical Areas
Revenue	5,461	5,325	5,002
Europe
Disclosure Of Geographical Areas
Revenue	3,270	3,117	2,974
United Kingdom
Disclosure Of Geographical Areas
Revenue	1,789	1,703	1,481
Rest of world
Disclosure Of Geographical Areas
Revenue	£ 703	£ 719	£ 577

Revenue, operating profit and_5

Revenue, operating profit and segment analysis - Summary of analysis by business segment expenditure (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of operating segments
Expenditure on acquired goodwill and intangible assets	£ 218	£ 132	£ 394
Capital expenditure additions	484	477	439
Amortisation of acquired intangible assets	258	280	296
Total depreciation and other amortisation	525	514	491
Risk
Disclosure of operating segments
Expenditure on acquired goodwill and intangible assets		79	155
Capital expenditure additions	148	139	122
Amortisation of acquired intangible assets	184	194	204
Total depreciation and other amortisation	99	92	94
Scientific, technical & medical
Disclosure of operating segments
Expenditure on acquired goodwill and intangible assets	8	3	206
Capital expenditure additions	104	108	103
Amortisation of acquired intangible assets	44	59	60
Total depreciation and other amortisation	125	136	119
Legal
Disclosure of operating segments
Expenditure on acquired goodwill and intangible assets	145	42	33
Capital expenditure additions	203	193	186
Amortisation of acquired intangible assets	15	11	12
Total depreciation and other amortisation	256	247	229
Exhibitions
Disclosure of operating segments
Expenditure on acquired goodwill and intangible assets	65	8
Capital expenditure additions	29	37	28
Amortisation of acquired intangible assets	15	16	20
Total depreciation and other amortisation	£ 45	£ 39	£ 49

Revenue, operating profit and_6

Revenue, operating profit and segment analysis - Summary of analysis of non-current Assets by geographical location (Details) - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Geographical Areas
Non-current assets	£ 11,828	£ 11,749
North America
Disclosure Of Geographical Areas
Non-current assets	9,131	9,149
Europe
Disclosure Of Geographical Areas
Non-current assets	2,259	2,141
United Kingdom
Disclosure Of Geographical Areas
Non-current assets	1,242	1,209	£ 1,253
Rest of world
Disclosure Of Geographical Areas
Non-current assets	£ 438	£ 459

Revenue, operating profit and_7

Revenue, operating profit and segment analysis - Summary of reconciliation of operating profit to adjusted operating profit (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue, operating profit and segment analysis
Operating profit	£ 2,861	£ 2,682	£ 2,323	£ 1,884	£ 1,525
Adjustments:
Amortisation of acquired intangible assets	258	280	296
Acquisition and disposal related items	69	56	62
Reclassification of tax in joint ventures and associates	12	12	4
Reclassification of finance income in joint ventures and associates	(1)		(2)
Adjusted operating profit	£ 3,199	£ 3,030	£ 2,683	£ 2,210	£ 2,076

Operating expenses - Disclosure

Operating expenses - Disclosure of detailed information about operating profit (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Staff costs
Total staff costs	£ 3,120	£ 3,108	£ 2,906
Depreciation and amortisation
Amortisation of acquired intangible assets	258	279	294
Share of joint ventures' and associates' amortisation of acquired intangible assets		1	2
Amortisation of acquired intangible assets including joint ventures' and associates' share	258	280	296
Amortisation of internally developed intangible assets	364	330	309
Depreciation, property, plant and equipment	34	43	47
Depreciation of right-of-use assets	50	65	63
Pre-publication amortisation	77	76	72
Total depreciation and other amortisation	525	514	491
Total depreciation and amortisation (including amortisation of acquired intangibles)	783	794	787
Other expenses and income
Cost of sales including pre-publication costs and inventory expenses	3,300	3,216	3,045
Short-term and low value lease expenses	£ 16	£ 18	£ 19

Auditor's remuneration (Details

Auditor's remuneration (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Auditor's remuneration.
Payable to the auditors of RELX PLC	£ 0.9	£ 0.9	£ 0.9
Payable to the auditors of the Group's subsidiaries	7.2	8	8.4
Audit services	8.1	8.9	9.3
Audit-related assurance services	0.4	0.5	0.6
Other assurance services	0.5	0.2
Total auditor's remuneration	£ 9	£ 9.6	£ 9.9

Personnel - Staff costs (Detail

Personnel - Staff costs (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Staff costs
Wages and salaries	£ 2,630	£ 2,636	£ 2,453
Social security costs	280	274	257
Pensions	144	142	150
Share based remuneration	66	56	46
Total staff costs	£ 3,120	£ 3,108	£ 2,906

Personnel - Disclosure of detai

Personnel - Disclosure of detailed information about number of people employed (Details) - employee	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Employees
Number of employees	36,400	36,500	35,700
Average number of employees during the year	36,500	36,500	34,700
North America
Employees
Number of employees	14,700	14,900	14,900
Average number of employees during the year	14,900	15,000	14,500
Europe
Employees
Number of employees	9,300	10,000	9,800
Average number of employees during the year	9,600	9,900	9,500
United Kingdom
Employees
Number of employees	5,600	6,000	5,800
Average number of employees during the year	5,700	5,900	5,600
Rest of world
Employees
Number of employees	12,400	11,600	11,000
Average number of employees during the year	12,000	11,600	10,700
Operating segments
Employees
Number of employees	35,800	35,900	34,900
Average number of employees during the year	35,900	35,900	33,900
Operating segments | Risk
Employees
Number of employees	11,000	11,100	10,800
Average number of employees during the year	11,000	10,900	10,400
Operating segments | Scientific, technical & medical
Employees
Number of employees	9,700	9,500	9,500
Average number of employees during the year	9,600	9,600	9,300
Operating segments | Legal
Employees
Number of employees	11,800	11,800	11,300
Average number of employees during the year	11,800	11,900	10,900
Operating segments | Exhibitions
Employees
Number of employees	3,300	3,500	3,300
Average number of employees during the year	3,500	3,500	3,300
Corporate/shared functions
Employees
Number of employees	600	600	800
Average number of employees during the year	600	600	800

Pension schemes - Additional in

Pension schemes - Additional information (Details) £ in Millions	12 Months Ended
	Dec. 31, 2024 GBP (£)
Disclosure of defined benefit plans
Estimate of contributions expected to be paid to plan for next annual reporting period	£ 7
United Kingdom
Disclosure of defined benefit plans
Percentage of funded status below which action needs to be taken to remedy deficit	100%
Liability for guarantee in respect of pension scheme liabilities	£ 0
United Kingdom | 2025-2027
Disclosure of defined benefit plans
Deficit funding contributions	£ 0
United States
Disclosure of defined benefit plans
Percentage of funded status below which action needs to be taken to remedy deficit	100%
Period for additional contributions	7 years
Percentage of funded status	100%

Pension schemes - Schedule of p

Pension schemes - Schedule of pension expense excluding interest amount (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pension schemes
Defined benefit pension expense	£ 4	£ 5	£ 19
Defined contribution pension expense	140	137	131
Total	£ 144	£ 142	£ 150

Pension schemes - Schedule of d

Pension schemes - Schedule of defined benefit pension scheme (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of defined benefit plans
Service cost	£ 4	£ 5	£ 19
Defined benefit pension expense	4	5	19
Net interest on net defined benefit pension balance	1	1	5
Net defined benefit pension expense	5	6	24
United Kingdom
Disclosure of defined benefit plans
Service cost	1	2	16
Defined benefit pension expense	1	2	16
Net interest on net defined benefit pension balance		1	4
Net defined benefit pension expense	1	3	20
United States
Disclosure of defined benefit plans
Service cost	3	3	3
Defined benefit pension expense	3	3	3
Net interest on net defined benefit pension balance	1		1
Net defined benefit pension expense	£ 4	£ 3	£ 4

Pension schemes - Significant v

Pension schemes - Significant validation assumptions (Details)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
United Kingdom
Disclosure of defined benefit plans
Discount rate	5.55%	4.60%	4.90%
Inflation	3.15%	3.05%	3.20%
Long-term rate of improvement in longevity	1.50%
United States
Disclosure of defined benefit plans
Discount rate	5.55%	5.05%	5.35%
Inflation	2.50%	2.50%	2.50%

Pension schemes - Summary of av

Pension schemes - Summary of average life expectancy assumptions (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Member currently aged sixty years average life expectancy | United Kingdom
Disclosure of defined benefit plans
Male average life expectancy	85 years	85 years	85 years
Female average life expectancy	89 years	88 years	89 years
Member currently aged sixty years average life expectancy | United States
Disclosure of defined benefit plans
Male average life expectancy	86 years	86 years	86 years
Female average life expectancy	88 years	88 years	88 years
Member currently aged forty five years average life expectancy | United Kingdom
Disclosure of defined benefit plans
Male average life expectancy	86 years	86 years	87 years
Female average life expectancy	90 years	90 years	90 years
Member currently aged forty five years average life expectancy | United States
Disclosure of defined benefit plans
Male average life expectancy	86 years	86 years	86 years
Female average life expectancy	89 years	89 years	89 years

Pension schemes - Amounts recog

Pension schemes - Amounts recognized in the statement of financial position in respect of defined benefit pension schemes (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of net defined benefit liability (asset)
At start of year	£ (63)
At end of year	21	£ (63)
Net deferred tax assets (liabilities) on net defined benefit pension balance	(4)	16
United Kingdom
Disclosure of net defined benefit liability (asset)
At start of year	(53)
At end of year	£ 30	£ (53)
Weighted average duration of defined benefit obligation	13 years	14 years
United States
Disclosure of net defined benefit liability (asset)
At start of year	£ (10)
At end of year	£ (9)	£ (10)
Weighted average duration of defined benefit obligation	9 years	9 years
Present value of defined benefit obligation
Disclosure of net defined benefit liability (asset)
At start of year	£ (3,806)	£ (3,752)
Service cost	(4)	(5)
Net interest on net defined benefit balance	(173)	(181)
Actuarial (losses)/gains on financial assumptions	321	(80)
Actuarial (losses)/gains arising from experience assumptions	(23)	(11)
Contributions by employees	(7)	(8)
Benefits paid	195	185
Exchange translation differences	(16)	46
At end of year	(3,513)	(3,806)
Present value of defined benefit obligation | Funded schemes
Disclosure of net defined benefit liability (asset)
At start of year	(3,626)
At end of year	(3,348)	(3,626)
Present value of defined benefit obligation | Unfunded schemes
Disclosure of net defined benefit liability (asset)
At start of year	(180)
At end of year	(165)	(180)
Present value of defined benefit obligation | United Kingdom
Disclosure of net defined benefit liability (asset)
At start of year	(2,984)	(2,887)
Service cost	(1)	(2)
Net interest on net defined benefit balance	(133)	(138)
Actuarial (losses)/gains on financial assumptions	301	(61)
Actuarial (losses)/gains arising from experience assumptions	(20)	(16)
Contributions by employees	(7)	(8)
Benefits paid	134	128
At end of year	(2,710)	(2,984)
Present value of defined benefit obligation | United States
Disclosure of net defined benefit liability (asset)
At start of year	(822)	(865)
Service cost	(3)	(3)
Net interest on net defined benefit balance	(40)	(43)
Actuarial (losses)/gains on financial assumptions	20	(19)
Actuarial (losses)/gains arising from experience assumptions	(3)	5
Benefits paid	61	57
Exchange translation differences	(16)	46
At end of year	(803)	(822)
Fair value of scheme assets
Disclosure of net defined benefit liability (asset)
At start of year	3,771	3,706
Net interest on net defined benefit balance	172	180
Return on assets excluding amounts included in interest income	(273)	35
Contributions by employer	48	73
Contributions by employees	7	8
Benefits paid	(195)	(185)
Exchange translation differences	14	(46)
At end of year	3,544	3,771
Fair value of scheme assets | United Kingdom
Disclosure of net defined benefit liability (asset)
At start of year	2,937	2,852
Net interest on net defined benefit balance	133	137
Return on assets excluding amounts included in interest income	(240)	1
Contributions by employer	41	67
Contributions by employees	7	8
Benefits paid	(134)	(128)
At end of year	2,744	2,937
Fair value of scheme assets | United States
Disclosure of net defined benefit liability (asset)
At start of year	834	854
Net interest on net defined benefit balance	39	43
Return on assets excluding amounts included in interest income	(33)	34
Contributions by employer	7	6
Benefits paid	(61)	(57)
Exchange translation differences	14	(46)
At end of year	800	834
Net pension obligation, before impact of asset ceiling
Disclosure of net defined benefit liability (asset)
At start of year	(35)	(46)
Service cost	(4)	(5)
Net interest on net defined benefit balance	(1)	(1)
Contributions by employer	48	73
Actuarial (losses)/gains	25	(56)
Exchange translation differences	(2)
At end of year	31	(35)
Net pension obligation, before impact of asset ceiling | United Kingdom
Disclosure of net defined benefit liability (asset)
At start of year	(47)	(35)
Service cost	(1)	(2)
Net interest on net defined benefit balance		(1)
Contributions by employer	41	67
Actuarial (losses)/gains	41	(76)
At end of year	34	(47)
Net pension obligation, before impact of asset ceiling | United States
Disclosure of net defined benefit liability (asset)
At start of year	12	(11)
Service cost	(3)	(3)
Net interest on net defined benefit balance	(1)
Contributions by employer	7	6
Actuarial (losses)/gains	(16)	20
Exchange translation differences	(2)
At end of year	(3)	12
Impact of asset ceiling
Disclosure of net defined benefit liability (asset)
At start of year	(28)
At end of year	(10)	(28)
Impact of asset ceiling | United Kingdom
Disclosure of net defined benefit liability (asset)
At start of year	(6)
At end of year	(4)	(6)
Impact of asset ceiling | United States
Disclosure of net defined benefit liability (asset)
At start of year	(22)
At end of year	£ (6)	£ (22)

Pension schemes - Summary of ne

Pension schemes - Summary of net pension obligations and net pension assets (Details) - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023
Pension schemes
Net pension assets	£ 186	£ 119
Net pension obligation	(165)	(182)
Overall net pension balance	£ 21	£ (63)

Pension schemes - Amounts rec_2

Pension schemes - Amounts recognized in statement of comprehensive income (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Gains and losses arising during the year:
Actuarial gains/(losses) on defined benefit pension schemes	£ 43	£ (75)	£ 164
Net defined benefit liability (asset)	(21)	63
Present value of defined benefit obligation
Gains and losses arising during the year:
Experience (losses)/gains	(23)	(11)	(88)
Net defined benefit liability (asset)	3,513	3,806	3,752
Present value of defined benefit obligation | Discount rates
Gains and losses arising during the year:
Actuarial (losses)/gains	374	(145)	2,000
Present value of defined benefit obligation | Inflation
Gains and losses arising during the year:
Actuarial (losses)/gains	(36)	15	32
Present value of defined benefit obligation | Other actuarial assumptions
Gains and losses arising during the year:
Actuarial (losses)/gains	(17)	50	1
Fair value of scheme assets
Gains and losses arising during the year:
Experience (losses)/gains	(273)	35	(1,820)
Net defined benefit liability (asset)	(3,544)	(3,771)	(3,706)
Net pension obligation, before impact of asset ceiling
Gains and losses arising during the year:
Actuarial gains/(losses) on defined benefit pension schemes	25	(56)	125
Net defined benefit liability (asset)	(31)	35	£ 46
Impact of asset ceiling
Gains and losses arising during the year:
Actuarial gains/(losses) on defined benefit pension schemes	18	(19)
Net defined benefit liability (asset)	£ 10	£ 28

Pension schemes - Summary of fa

Pension schemes - Summary of fair value of scheme asset (Detail) - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of fair value of plan assets
Equities	£ 421	£ 434
Liability matching assets	2,500	2,564
Property funds and ground leases	172	406
Direct lending and multi-asset credit funds	333	229
Cash and cash equivalents	110	125
Other	8	13
Total	3,544	3,771
With quoted prices in active market
Disclosure of fair value of plan assets
Liability matching assets	2,049	2,169
Cash and cash equivalents	44	83
United Kingdom
Disclosure of fair value of plan assets
Equities	419	431
Liability matching assets	1,716	1,760
Property funds and ground leases	172	406
Direct lending and multi-asset credit funds	333	229
Cash and cash equivalents	96	98
Other	8	13
Total	2,744	2,937
Asset backed securities	481	247
Other credit assets	487	452
Government bonds	1,881	1,962
Forward foreign currency exchange contracts	(2)	(4)
Short-term sale and repurchase agreements	(1,131)	(910)
United States
Disclosure of fair value of plan assets
Equities	2	3
Liability matching assets	784	804
Cash and cash equivalents	14	27
Total	£ 800	£ 834

Pension schemes - Sensitivity a

Pension schemes - Sensitivity analysis of actuarial assumption (Details) £ in Millions	12 Months Ended
	Dec. 31, 2024 GBP (£)
Discount rates
Disclosure Of Sensitivity Analysis For Actuarial Assumptions
Increase/decrease in actuarial assumption, percentage	0.50%
Effect of increase/decrease in actuarial assumption on defined benefit pension obligations	£ 124
Inflation
Disclosure Of Sensitivity Analysis For Actuarial Assumptions
Increase/decrease in actuarial assumption, percentage	0.25%
Effect of increase/decrease in actuarial assumption on defined benefit pension obligations	£ 55
Actuarial assumption of assumed life expectancy
Disclosure Of Sensitivity Analysis For Actuarial Assumptions
Increase/decrease in actuarial assumption, period	1 year
Effect of increase/decrease in actuarial assumption on defined benefit pension obligations	£ 55

Net finance costs - Summary of

Net finance costs - Summary of net finance cost (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net finance costs
Interest on short-term bank loans, overdrafts and commercial paper	£ (48)	£ (31)	£ (19)
Interest on term debt	(228)	(263)	(157)
Interest on lease liabilities	(5)	(6)	(6)
Total borrowing costs	(281)	(300)	(182)
Losses on loans and derivatives not designated as hedges	(20)	(20)	(9)
Fair value losses on designated fair value hedge relationships	(2)	(2)	(9)
Net financing charge on defined benefit pension schemes	(1)	(1)	(5)
Finance costs	(304)	(323)	(205)
Interest on bank deposits	6	8	4
Finance income	6	8	4
Net finance costs	£ (298)	£ (315)	£ (201)

Net finance costs - Additional

Net finance costs - Additional information (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Hedging instruments and bonds
Fair value movements on cash flow hedges	£ 11	£ 29	£ (18)
Transfer to profit from cash flow hedge reserve	(20)	18	(17)
Interest expense on debt instruments issued, early redemption charge		26
Derivatives
Hedging instruments and bonds
Fair value movements on cash flow hedges	1	(2)	2
Transfer to profit from cash flow hedge reserve	£ 2	£ 1	£ 1

Disposals and other non-opera_3

Disposals and other non-operating items - Summary of disposals and other non-operating item (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disposals and other non-operating items
Revaluation of investments	£ (2)	£ (11)	£ 9
Loss on disposal of businesses and assets held for sale	(4)	(61)	(18)
Net loss on disposals and other non-operating items	£ (6)	£ (72)	£ (9)

Disposals and other non-opera_4

Disposals and other non-operating items - Additional information (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Statement
Impairment loss on goodwill related to assets held for sale	£ 36	£ 42
Risk
Statement
Impairment loss on goodwill related to assets held for sale		£ 42

Taxation - Summary of tax expen

Taxation - Summary of tax expense (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current tax
Current year	£ (661)	£ (652)	£ (564)
Prior years	54	77	30
Total current tax charge	(607)	(575)	(534)
Deferred tax	(6)	68	53
Tax expense	£ (613)	£ (507)	£ (481)

Taxation - Additional informati

Taxation - Additional information (Details) - GBP (£) £ in Millions	1 Months Ended		12 Months Ended
	Apr. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Income Tax Expenses
Current tax charge			£ 607	£ 575	£ 534
Net tax paid			£ 662	£ 619	£ 495
Applicable tax rate			25.30%	24.90%	23.60%
Deferred tax credit on changes in tax rates			£ 0	£ 0	£ 3
Average effective tax rate			24%	22.10%	22.80%
Income not taxable and expenses not deductible, research and development			£ 21	£ 21	£ 13
Uncertain tax provisions			168	173
United Kingdom
Disclosure Of Income Tax Expenses
Current tax charge			£ 187	£ 157	£ 102
Applicable tax rate	25%	19%
Netherlands
Disclosure Of Income Tax Expenses
Applicable tax rate					25.80%	25%

Taxation - Weighted average of

Taxation - Weighted average of tax rates applicable to accounting profits and loss (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Taxation
Profit before tax	£ 2,557	£ 2,295	£ 2,113	£ 1,797	£ 1,483
Tax at average applicable rates	(647)	(571)	(498)
Tax effect of share of results of joint ventures and associates	9	8	3
Income not taxable and expenses not deductible	16	20	21
Non-deductible costs of share based remuneration	(2)	(1)	(1)
Non-deductible disposal-related gains and losses	(7)	(22)	(2)
Deferred tax assets of the period not recognised	(18)	(3)	(17)
Change in recognition and measurement of deferred tax	13	4	5
Movements in provisions and prior year items	23	58	8
Tax expense	£ (613)	£ (507)	£ (481)
Tax at average applicable rates	25.30%	24.90%	23.60%
Tax effect of share of results of joint ventures and associates	(0.40%)	(0.30%)	(0.10%)
Income not taxable and expenses not deductible	(0.60%)	(0.90%)	(1.00%)
Non-deductible costs of share based remuneration	0.10%	0%	0%
Non-deductible disposal-related gains and losses	0.30%	1%	0.10%
Deferred tax assets of the period not recognised	0.70%	0.10%	0.80%
Change in recognition and measurement of deferred tax	(0.50%)	(0.20%)	(0.20%)
Movements in provisions and prior year items	(0.90%)	(2.50%)	(0.40%)
Tax expense	24%	22.10%	22.80%

Taxation - Tax recognised in ot

Taxation - Tax recognised in other comprehensive income or in equity and tax assets and liabilities (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Tax on items that may be reclassified to profit or loss
Tax on actuarial movements on defined benefit pension schemes	£ (11)	£ 19	£ (43)
Tax on fair value movements on cash flow hedges	3	(12)	8
Net tax (charge)/credit recognised in other comprehensive income	(8)	7	(35)
Tax credit on share based remuneration recognised directly in equity	20	24
Current tax assets	42	6
Current tax liabilities	(119)	(163)
Total	(77)	(157)
Deferred tax assets	84	128
Deferred tax liabilities	(473)	(473)
Total	£ (389)	£ (345)	£ (444)

Taxation - Movements in deferre

Taxation - Movements in deferred tax liabilities and assets (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits
Deferred tax (liability)/asset at start of year	£ (345)	£ (444)
Credit/(charge) to profit	(6)	68	£ 53
Credit/(charge) to equity/other comprehensive income	(7)	8
Acquisitions	(15)	(6)
Disposals and other	(2)	3
Exchange translation differences	(14)	26
Deferred tax (liability)/asset at end of year	(389)	(345)	(444)
Acquired intangible assets
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits
Deferred tax (liability)/asset at start of year	(652)	(735)
Credit/(charge) to profit	52	63
Acquisitions	(16)	(16)
Disposals and other		3
Exchange translation differences	(10)	33
Deferred tax (liability)/asset at end of year	(626)	(652)	(735)
Other temporary differences liabilities
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits
Deferred tax (liability)/asset at start of year	(182)	(231)
Credit/(charge) to profit	14	40
Credit/(charge) to equity/other comprehensive income	(14)	(2)
Acquisitions		1
Exchange translation differences	(1)	10
Deferred tax (liability)/asset at end of year	(183)	(182)	(231)
Capitalised development costs
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits
Deferred tax (liability)/asset at start of year	(120)
Deferred tax (liability)/asset at end of year	(86)	(120)
Pension surplus
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits
Deferred tax (liability)/asset at start of year	(30)
Deferred tax (liability)/asset at end of year	(47)	(30)
Acquired intangible assets
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits
Deferred tax (liability)/asset at start of year	99	132
Credit/(charge) to profit	(31)	(31)
Exchange translation differences	(2)	(2)
Deferred tax (liability)/asset at end of year	66	99	132
Losses and other tax attributes
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits
Deferred tax (liability)/asset at start of year	96	118
Credit/(charge) to profit	(31)	(26)
Acquisitions	1	9
Exchange translation differences	(2)	(5)
Deferred tax (liability)/asset at end of year	64	96	118
Pension balances
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits
Deferred tax (liability)/asset at start of year	47	49
Credit/(charge) to profit	(10)	(1)
Credit/(charge) to equity/other comprehensive income	6	(1)
Deferred tax (liability)/asset at end of year	43	47	49
Other temporary differences assets
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits
Deferred tax (liability)/asset at start of year	247	223
Credit/(charge) to profit		23
Credit/(charge) to equity/other comprehensive income	1	11
Disposals and other	(2)
Exchange translation differences	1	(10)
Deferred tax (liability)/asset at end of year	247	247	£ 223
Accruals and provisions
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits
Deferred tax (liability)/asset at start of year	128
Deferred tax (liability)/asset at end of year	124	128
Share-based remuneration provision
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits
Deferred tax (liability)/asset at start of year	59
Deferred tax (liability)/asset at end of year	63	59
Intercompany interest
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits
Deferred tax (liability)/asset at start of year	21
Deferred tax (liability)/asset at end of year	£ 14	£ 21

Taxation - Losses and other tax

Taxation - Losses and other tax attributes for which no deferred tax is recognised (Details) - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023
Unused trading losses and temporary differences
Disclosure Of Income Tax Expenses
Unused losses and other tax attributes for which no deferred tax asset recognised - gross amount	£ 253	£ 353
Unused losses and other tax attributes for which no deferred tax asset recognised - tax effected	69	96
Unused trading losses and temporary differences | Within 10 years
Disclosure Of Income Tax Expenses
Unused losses and other tax attributes for which no deferred tax asset recognised - gross amount	55	93
Unused losses and other tax attributes for which no deferred tax asset recognised - tax effected	15	26
Unused trading losses and temporary differences | After 10 years
Disclosure Of Income Tax Expenses
Unused losses and other tax attributes for which no deferred tax asset recognised - gross amount	13	14
Unused losses and other tax attributes for which no deferred tax asset recognised - tax effected	3	4
Unused trading losses and temporary differences | Available indefinitely
Disclosure Of Income Tax Expenses
Unused losses and other tax attributes for which no deferred tax asset recognised - gross amount	185	246
Unused losses and other tax attributes for which no deferred tax asset recognised - tax effected	51	66
Unused state and local tax losses
Disclosure Of Income Tax Expenses
Unused losses and other tax attributes for which no deferred tax asset recognised - gross amount	75	84
Unused losses and other tax attributes for which no deferred tax asset recognised - tax effected	4	5
Unused state and local tax losses | Within 10 years
Disclosure Of Income Tax Expenses
Unused losses and other tax attributes for which no deferred tax asset recognised - gross amount	18	21
Unused losses and other tax attributes for which no deferred tax asset recognised - tax effected	1	1
Unused state and local tax losses | After 10 years
Disclosure Of Income Tax Expenses
Unused losses and other tax attributes for which no deferred tax asset recognised - gross amount	57	63
Unused losses and other tax attributes for which no deferred tax asset recognised - tax effected	3	4
Unused capital losses
Disclosure Of Income Tax Expenses
Unused losses and other tax attributes for which no deferred tax asset recognised - gross amount	140	27
Unused losses and other tax attributes for which no deferred tax asset recognised - tax effected	31	7
Unused capital losses | Available indefinitely
Disclosure Of Income Tax Expenses
Unused losses and other tax attributes for which no deferred tax asset recognised - gross amount	140	27
Unused losses and other tax attributes for which no deferred tax asset recognised - tax effected	£ 31	£ 7

Earnings per share - Summary of

Earnings per share - Summary of earnings per share (Details) - GBP (£) £ / shares in Units, £ in Millions, shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings per share
Net profit attributable to shareholders, basic	£ 1,934	£ 1,781	£ 1,634	£ 1,471	£ 1,224
Weighted average number of shares, Basic	1,865.9	1,891.8	1,918.5
EPS, Basic	£ 1.036	£ 0.941	£ 0.852	£ 0.763	£ 0.635
Net profit attributable to shareholders, diluted	£ 1,934	£ 1,781	£ 1,634
Weighted average number of shares, Diluted	1,876.7	1,902.8	1,929.3
EPS, Diluted	£ 1.031	£ 0.936	£ 0.847

Statement of cash flows - Sched

Statement of cash flows - Schedule of reconciliation of profit before tax to cash generated from operation (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of cash flow
Operating profit	£ 2,861	£ 2,682	£ 2,323	£ 1,884	£ 1,525
Share of results of joint ventures and associates	(43)	(46)	(19)
Amortisation of acquired intangible assets	258	279	294
Amortisation of internally developed intangible assets	364	330	309
Amortisation of pre-publication cost	77	76	72
Depreciation of property, plant and equipment	34	43	47
Depreciation of right-of-use assets	50	65	63
Share based remuneration	66	56	46
Total non-cash items	849	849	831
Increase in inventories and pre-publication costs	(83)	(90)	(103)
Increase in receivables	(173)	(24)	(251)
Increase/(decrease) in payables	110	(1)	280
Increase in working capital	(146)	(115)	(74)
Cash generated from operations	£ 3,521	£ 3,370	£ 3,061

Statement of cash flows - Sch_2

Statement of cash flows - Schedule of cash flow on acquisition (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of cash flow
Purchase of businesses	£ (165)	£ (108)	£ (373)
Deferred payments relating to prior year acquisitions	(5)	(16)	(21)
Total	£ (170)	£ (124)	£ (394)

Statement of cash flows - Sch_3

Statement of cash flows - Schedule of reconciliation of net debt (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Cash Flow Statement
Net debt at start of year	£ (6,446)	£ (6,604)	£ (6,017)
(Decrease)/increase in cash and cash equivalents	(32)	(169)	208
(Increase)/decrease in short-term bank loans, overdrafts and commercial paper	(461)	(84)
Issuance of term debt	(711)	(651)
Repayment of term debt	1,017	847
Repayment of leases	61	70
Change in net debt resulting from cash flows	(126)	13
Borrowings In disposed businesses	8	1
Remeasurement and derecognition of leases	(4)
Inception of leases	(32)	(37)
Fair value and other adjustments to debt and related derivatives	(9)	(3)
Exchange translation differences	46	184
Net debt at end of year	(6,563)	(6,446)	(6,604)
Cash and cash equivalents
Disclosure Of Cash Flow Statement
Net debt at start of year	155	334
(Decrease)/increase in cash and cash equivalents	(32)	(169)
Change in net debt resulting from cash flows	(32)	(169)
Exchange translation differences	(4)	(10)
Net debt at end of year	119	155	334
Debt
Disclosure Of Cash Flow Statement
Net debt at start of year	(6,497)	(6,730)
(Increase)/decrease in short-term bank loans, overdrafts and commercial paper	(461)	(84)
Issuance of term debt	(711)	(651)
Repayment of term debt	1,017	847
Repayment of leases	63	72
Change in net debt resulting from cash flows	(92)	184
Borrowings In disposed businesses	8	1
Remeasurement and derecognition of leases	(4)
Inception of leases	(32)	(38)
Fair value and other adjustments to debt and related derivatives	19	(100)
Exchange translation differences	54	186
Net debt at end of year	(6,544)	(6,497)	(6,730)
Related derivative financial instruments
Disclosure Of Cash Flow Statement
Net debt at start of year	(108)	(213)
Fair value and other adjustments to debt and related derivatives	(28)	97
Exchange translation differences	(4)	8
Net debt at end of year	(140)	(108)	(213)
Finance lease receivable
Disclosure Of Cash Flow Statement
Net debt at start of year	4	5
Repayment of leases	(2)	(2)
Change in net debt resulting from cash flows	(2)	(2)
Inception of leases		1
Net debt at end of year	£ 2	£ 4	£ 5

Acquisitions - Consideration pa

Acquisitions - Consideration paid for acquiring asset and liabilities (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Acquisitions
Goodwill	£ 146	£ 68	£ 269
Intangible assets	72	64	125
Property, plant and equipment		1	1
Other non-current assets			3
Current assets	6	3	8
Current liabilities	(14)	(10)	(21)
Borrowings			(3)
Deferred tax	(15)	(6)	(13)
Net assets acquired	195	120	369
Consideration (after taking account of net cash acquired)	195	120	369
Change in consideration deferred to future years and changes in contingent consideration relating to prior year acquisitions	(30)	(12)	4
Net cash flow	165	108	373
Net cash acquired	7	4	6
Total consideration for acquisitions	195	130
Total consideration for acquisitions adjusted for cash acquired	188	126
Cash spent on acquisitions	170	124	394
Deferred consideration on past acquisitions	£ 5	£ 16	£ 21

Acquisitions - Additional infor

Acquisitions - Additional information (Details) £ in Millions	12 Months Ended
	Dec. 31, 2024 GBP (£)
Acquisitions
Revenue contributed by business acquisition	£ 11
Adjusted operating profit contributed by business acquisition	5
Net profit contributed by business acquisition	(2)
Integration costs and amortisation of acquired intangibles	6
Net cash inflow from operating activities contributed by business acquisition	4
Group revenue, pro forma basis	9,437
Adjusted operating profit, pro forma basis	3,197
Net profit, pro forma basis	£ 1,932

Equity dividends - Ordinary div

Equity dividends - Ordinary dividends paid (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity dividends
Ordinary dividends paid	£ 1,121	£ 1,059	£ 983

Equity dividends - Additional i

Equity dividends - Additional information (Detail) - GBP (£) £ / shares in Units, £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Dividends
Dividend for current year, paid and proposed	£ 0.630	£ 0.588	£ 0.546	£ 0.498	£ 0.470
Shareholders' equity
Disclosure Of Dividends
Final dividend for prior year paid	0.418	0.389	0.355
Interim dividend for current year paid	0.182	0.17	0.157
Total dividends paid	0.60	0.559	0.512
Final dividend for current year proposed	0.448	0.418	0.389
Dividend for current year, paid and proposed	£ 0.63	£ 0.588	£ 0.546
Cost of funding of proposed final dividend	£ 831

Intangible assets - Additional

Intangible assets - Additional information (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of detailed information about intangible assets
Period over which management has projected cash flows	5 years
Impairment loss on goodwill	£ 0	£ 0
Impairment of indefinite lived intangible assets	£ 0	0
Increase in discount rate	1.50%
Decrease in the compound annual growth rate for cash flow	2%
Decrease in nominal long-term market growth rates	1%
Increase in discount rate, part of combined scenario	1%
Decrease in nominal long-term market growth rates, part of combined scenario	1%
Impairment charge on intangible assets due to reasonably possible change in assumptions	£ 0
Internally developed intangible assets | Minimum
Disclosure of detailed information about intangible assets
Finite-lived intangible assets, useful life	3 years
Internally developed intangible assets | Maximum
Disclosure of detailed information about intangible assets
Finite-lived intangible assets, useful life	10 years
Market related | Not internally generated | Minimum
Disclosure of detailed information about intangible assets
Finite-lived intangible assets, useful life	1 year
Market related | Not internally generated | Maximum
Disclosure of detailed information about intangible assets
Finite-lived intangible assets, useful life	40 years
Customer related | Not internally generated | Minimum
Disclosure of detailed information about intangible assets
Finite-lived intangible assets, useful life	1 year
Customer related | Not internally generated | Maximum
Disclosure of detailed information about intangible assets
Finite-lived intangible assets, useful life	20 years
Editorial content | Not internally generated | Minimum
Disclosure of detailed information about intangible assets
Finite-lived intangible assets, useful life	1 year
Editorial content | Not internally generated | Maximum
Disclosure of detailed information about intangible assets
Finite-lived intangible assets, useful life	40 years
Software and technology | Not internally generated | Minimum
Disclosure of detailed information about intangible assets
Finite-lived intangible assets, useful life	1 year
Software and technology | Not internally generated | Maximum
Disclosure of detailed information about intangible assets
Finite-lived intangible assets, useful life	10 years
Other | Not internally generated | Minimum
Disclosure of detailed information about intangible assets
Finite-lived intangible assets, useful life	3 years
Other | Not internally generated | Maximum
Disclosure of detailed information about intangible assets
Finite-lived intangible assets, useful life	20 years
Platforms and infrastructure | Legal
Disclosure of detailed information about intangible assets
Finite-lived intangible assets, useful life	10 years
Capitalised development costs	£ 645	636
Journal titles | Scientific, technical & medical
Disclosure of detailed information about intangible assets
Intangible assets with indefinite useful life	£ 121	£ 119

Intangible assets - Summary of

Intangible assets - Summary of intangible assets and goodwill (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of detailed information about intangible assets
Goodwill at start of year	£ 8,023
Goodwill at end of year	8,216	£ 8,023
Intangible assets excluding goodwill at beginning of period	3,238
Intangible assets excluding goodwill at end of period	3,164	3,238
Cost
Disclosure of detailed information about intangible assets
Goodwill at start of year	8,023	8,388
Acquisitions	146	68
Disposals and other	(36)	(51)
Exchange translation differences	83	(382)
Goodwill at end of year	8,216	8,023
Intangible assets excluding goodwill at beginning of period	12,781	12,948
Acquisitions	72	64
Additions	464	447
Disposals and other	(305)	(140)
Exchange translation differences	79	(538)
Intangible assets excluding goodwill at end of period	13,091	12,781
Accumulated amortisation
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	(9,543)	(9,424)
Charge for the year	(622)	(609)
Disposals and other	286	98
Exchange translation differences	(48)	392
Intangible assets excluding goodwill at end of period	(9,927)	(9,543)
Not internally generated
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	1,761
Intangible assets excluding goodwill at end of period	1,595	1,761
Not internally generated | Cost
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	8,438	8,828
Acquisitions	72	64
Disposals and other	(218)	(81)
Exchange translation differences	77	(373)
Intangible assets excluding goodwill at end of period	8,369	8,438
Not internally generated | Accumulated amortisation
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	(6,677)	(6,739)
Charge for the year	(258)	(279)
Disposals and other	215	57
Exchange translation differences	(54)	284
Intangible assets excluding goodwill at end of period	(6,774)	(6,677)
Not internally generated | Market related
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	809
Intangible assets excluding goodwill at end of period	719	809
Not internally generated | Market related | Cost
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	2,540	2,699
Acquisitions	10	1
Disposals and other	(71)	(28)
Exchange translation differences	36	(132)
Intangible assets excluding goodwill at end of period	2,515	2,540
Not internally generated | Market related | Accumulated amortisation
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	(1,731)	(1,718)
Charge for the year	(111)	(116)
Disposals and other	69	16
Exchange translation differences	(23)	87
Intangible assets excluding goodwill at end of period	(1,796)	(1,731)
Not internally generated | Customer related
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	656
Intangible assets excluding goodwill at end of period	609	656
Not internally generated | Customer related | Cost
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	1,979	2,076
Acquisitions	14	28
Disposals and other	(8)	(29)
Exchange translation differences	25	(96)
Intangible assets excluding goodwill at end of period	2,010	1,979
Not internally generated | Customer related | Accumulated amortisation
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	(1,323)	(1,332)
Charge for the year	(71)	(73)
Disposals and other	8	19
Exchange translation differences	(15)	63
Intangible assets excluding goodwill at end of period	(1,401)	(1,323)
Not internally generated | Editorial content
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	51
Intangible assets excluding goodwill at end of period	48	51
Not internally generated | Editorial content | Cost
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	658	690
Acquisitions	10	1
Disposals and other	(6)	(11)
Exchange translation differences	4	(22)
Intangible assets excluding goodwill at end of period	666	658
Not internally generated | Editorial content | Accumulated amortisation
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	(607)	(617)
Charge for the year	(13)	(15)
Disposals and other	5	5
Exchange translation differences	(3)	20
Intangible assets excluding goodwill at end of period	(618)	(607)
Not internally generated | Software and technology
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	235
Intangible assets excluding goodwill at end of period	210	235
Not internally generated | Software and technology | Cost
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	835	845
Acquisitions	38	31
Disposals and other	(23)	(4)
Exchange translation differences	5	(37)
Intangible assets excluding goodwill at end of period	855	835
Not internally generated | Software and technology | Accumulated amortisation
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	(600)	(572)
Charge for the year	(62)	(63)
Disposals and other	23	8
Exchange translation differences	(6)	27
Intangible assets excluding goodwill at end of period	(645)	(600)
Not internally generated | Other
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	10
Intangible assets excluding goodwill at end of period	9	10
Not internally generated | Other | Cost
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	2,426	2,518
Acquisitions		3
Disposals and other	(110)	(9)
Exchange translation differences	7	(86)
Intangible assets excluding goodwill at end of period	2,323	2,426
Not internally generated | Other | Accumulated amortisation
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	(2,416)	(2,500)
Charge for the year	(1)	(12)
Disposals and other	110	9
Exchange translation differences	(7)	87
Intangible assets excluding goodwill at end of period	(2,314)	(2,416)
Internally developed intangible assets
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	1,477
Intangible assets excluding goodwill at end of period	1,569	1,477
Internally developed intangible assets | Cost
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	4,343	4,120
Additions	464	447
Disposals and other	(87)	(59)
Exchange translation differences	2	(165)
Intangible assets excluding goodwill at end of period	4,722	4,343
Internally developed intangible assets | Accumulated amortisation
Disclosure of detailed information about intangible assets
Intangible assets excluding goodwill at beginning of period	(2,866)	(2,685)
Charge for the year	(364)	(330)
Disposals and other	71	41
Exchange translation differences	6	108
Intangible assets excluding goodwill at end of period	£ (3,153)	£ (2,866)

Intangible assets - Summary o_2

Intangible assets - Summary of intangible assets and goodwill (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill
Disclosure of detailed information about intangible assets
Decrease through classified as held for sale, goodwill	£ 36	£ 51
Impairment		42
Intangible assets
Disclosure of detailed information about intangible assets
Decrease through classification as held for sale, assets other than goodwill		£ 31

Intangible assets - Summary o_3

Intangible assets - Summary of goodwill by segment (Detail) - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023
Goodwill
Goodwill	£ 8,216	£ 8,023
Risk
Goodwill
Goodwill	4,004	3,950
Scientific, technical & medical
Goodwill
Goodwill	1,948	1,923
Legal
Goodwill
Goodwill	1,640	1,524
Exhibitions
Goodwill
Goodwill	£ 624	£ 626

Intangible assets - Summary o_4

Intangible assets - Summary of key assumptions used for each group of cash generating units (Detail)	Dec. 31, 2024	Dec. 31, 2023
Risk
Disclosure of information for cash-generating units
Pre-tax discount rate	11.30%	11.30%
Nominal long-term market growth rate	4%	4%
Scientific, technical & medical
Disclosure of information for cash-generating units
Pre-tax discount rate	10.60%	10.60%
Nominal long-term market growth rate	3%	3%
Legal
Disclosure of information for cash-generating units
Pre-tax discount rate	10.90%	10.90%
Nominal long-term market growth rate	4%	4%
Exhibitions
Disclosure of information for cash-generating units
Pre-tax discount rate	12.30%	12.30%
Nominal long-term market growth rate	4%	4%

Investments - Summary of invest

Investments - Summary of investment (Detail) - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments
Investments in joint ventures and associates	£ 169	£ 178	£ 159
Venture capital and other investments	92	97
Investments	£ 261	£ 275

Investments - Summary of analys

Investments - Summary of analysis of changes in carrying value of investments in joint ventures (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments
At start of year	£ 178	£ 159
Share of results of joint ventures and associates	43	46	£ 19
Dividends received from joint ventures and associates	(37)	(21)	(33)
Exchange translation differences	(15)	(6)
At end of year	£ 169	£ 178	£ 159

Investments - Summary of group'

Investments - Summary of group's share of joint venture (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments
Revenue	£ 121	£ 123
Net profit for the year	43	46	£ 19
Total assets	198	200
Total liabilities	(97)	(61)
Net assets	101	139
Goodwill	68	39
Total	169	178	£ 159
Other comprehensive income	£ 0	£ 0

Property, plant and equipment -

Property, plant and equipment - Additional information (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment	£ 82	£ 99
Freehold buildings | Maximum
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment estimated useful lives	50 years
Long leasehold | Maximum
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment estimated useful lives	50 years
Leasehold improvements | Maximum
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment estimated useful lives	10 years
Plant | Minimum
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment estimated useful lives	3 years
Plant | Maximum
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment estimated useful lives	20 years
Office furniture, fixtures and fittings | Minimum
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment estimated useful lives	5 years
Office furniture, fixtures and fittings | Maximum
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment estimated useful lives	10 years
Computer systems, communication networks and equipment | Minimum
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment estimated useful lives	3 years
Computer systems, communication networks and equipment | Maximum
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment estimated useful lives	7 years
Freehold land
Disclosure of detailed information about property, plant and equipment
Property, plant and equipment	£ 7	£ 8

Property, Plant and Equipment_2

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment
At start of year	£ 99
Charge for the year	(34)	£ (43)	£ (47)
At end of year	82	99
Cost
Disclosure of detailed information about property, plant and equipment
At start of year	507	618
Acquisitions		1
Capital expenditure	20	30
Disposals	(129)	(118)
Exchange translation differences		(24)
At end of year	398	507	618
Accumulated depreciation
Disclosure of detailed information about property, plant and equipment
At start of year	(408)	(492)
Charge for the year	(34)	(43)
Disposals	126	108
Exchange translation differences		19
At end of year	(316)	(408)	(492)
Land and buildings
Disclosure of detailed information about property, plant and equipment
At start of year	42
At end of year	36	42
Land and buildings | Cost
Disclosure of detailed information about property, plant and equipment
At start of year	134	166
Capital expenditure	1	5
Disposals	(25)	(30)
Exchange translation differences		(7)
At end of year	110	134	166
Land and buildings | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment
At start of year	(92)	(115)
Charge for the year	(5)	(5)
Disposals	23	23
Exchange translation differences		5
At end of year	(74)	(92)	(115)
Fixtures and equipment
Disclosure of detailed information about property, plant and equipment
At start of year	57
At end of year	46	57
Fixtures and equipment | Cost
Disclosure of detailed information about property, plant and equipment
At start of year	373	452
Acquisitions		1
Capital expenditure	19	25
Disposals	(104)	(88)
Exchange translation differences		(17)
At end of year	288	373	452
Fixtures and equipment | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment
At start of year	(316)	(377)
Charge for the year	(29)	(38)
Disposals	103	85
Exchange translation differences		14
At end of year	£ (242)	£ (316)	£ (377)

Financial instruments - Liquidi

Financial instruments - Liquidity risk - Additional (Details) £ in Millions, $ in Billions	12 Months Ended
	Dec. 31, 2024 GBP (£)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 GBP (£)
Disclosure of detailed information about financial instruments
Maximum amount of term debt maturing in any 12-month period | $		$ 2
Weighted average maturity of gross debt portfolio to be maintained	5 years
Derivative financial liabilities	£ 185		£ 147
Current derivative financial liabilities	59		16
Non-current derivative financial liabilities	126		131
Derivative financial assets	74		81
Current derivative financial assets	35		34
Non-current derivative financial assets	39		47
Committed bank facility	2,400	$ 3
Hedging instruments | Fair value hedges
Disclosure of detailed information about financial instruments
Derivative financial liabilities	162		130
Derivative financial assets	21		19
Hedging instruments | Cash flow hedges
Disclosure of detailed information about financial instruments
Derivative financial liabilities	15		14
Derivative financial assets	43		53
Instruments not designated as hedges
Disclosure of detailed information about financial instruments
Derivative financial liabilities	8		3
Derivative financial assets	£ 10		£ 9

Financial instruments - Summary

Financial instruments - Summary of remaining contractual maturities for borrowings and derivative financial instruments (Details) - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of detailed information about financial instruments
Lease liabilities	£ (103)	£ (141)
Lease liabilities, contractual cash flow	(131)	(174)
Borrowings	(6,544)	(6,497)
Derivative financial liabilities	(185)	(147)
Derivative financial assets	74	81
Borrowings and derivative financial (liabilities) assets	(6,655)	(6,563)
Borrowings and derivative financial (liabilities) assets, contractual cash flows	(7,675)	(7,517)
Fixed rate
Disclosure of detailed information about financial instruments
Borrowings	(5,679)	(6,136)
Borrowings, contractual cash flow	(6,684)	(7,067)
Floating rate
Disclosure of detailed information about financial instruments
Borrowings	(762)	(220)
Borrowings, contractual cash flow	(762)	(220)
Forward foreign exchange contracts
Disclosure of detailed information about financial instruments
Derivative financial liabilities	(23)	(16)
Derivative financial liabilities, contractual cash flows	(21)	(13)
Derivative financial liabilities, contractual inflows	1,881	730
Derivative financial liabilities, contractual outflows	(1,902)	(743)
Derivative financial assets	53	62
Derivative financial assets, contractual cash flows	70	77
Derivative financial assets, contractual inflows	1,192	1,742
Derivative financial assets, contractual outflows	(1,122)	(1,665)
Interest rate derivatives
Disclosure of detailed information about financial instruments
Derivative financial liabilities	(119)	(104)
Derivative financial liabilities, contractual cash flows	(135)	(119)
Derivative financial assets	21	19
Derivative financial assets, contractual cash flows	36	38
Cross-currency interest rate swaps
Disclosure of detailed information about financial instruments
Derivative financial liabilities	(43)	(27)
Derivative financial liabilities, contractual cash flows	(550)	(573)
Derivative financial assets, contractual cash flows	502	534
Within 1 year
Disclosure of detailed information about financial instruments
Lease liabilities, contractual cash flow	(43)	(66)
Borrowings	(1,412)	(1,313)
Borrowings and derivative financial (liabilities) assets, contractual cash flows	(1,614)	(1,495)
Within 1 year | Fixed rate
Disclosure of detailed information about financial instruments
Borrowings, contractual cash flow	(763)	(1,174)
Within 1 year | Floating rate
Disclosure of detailed information about financial instruments
Borrowings, contractual cash flow	(762)	(220)
Within 1 year | Forward foreign exchange contracts
Disclosure of detailed information about financial instruments
Derivative financial liabilities, contractual cash flows	(15)	(11)
Derivative financial liabilities, contractual inflows	1,560	621
Derivative financial liabilities, contractual outflows	(1,575)	(632)
Derivative financial assets, contractual cash flows	39	38
Derivative financial assets, contractual inflows	827	1,149
Derivative financial assets, contractual outflows	(788)	(1,111)
Within 1 year | Interest rate derivatives
Disclosure of detailed information about financial instruments
Derivative financial liabilities, contractual cash flows	(25)	(35)
Derivative financial assets, contractual cash flows	3
Within 1 year | Cross-currency interest rate swaps
Disclosure of detailed information about financial instruments
Derivative financial liabilities, contractual cash flows	(550)	(34)
Derivative financial assets, contractual cash flows	502	7
Within 1 to 2 years
Disclosure of detailed information about financial instruments
Lease liabilities, contractual cash flow	(28)	(45)
Borrowings	(632)	(639)
Borrowings and derivative financial (liabilities) assets, contractual cash flows	(782)	(809)
Within 1 to 2 years | Fixed rate
Disclosure of detailed information about financial instruments
Borrowings, contractual cash flow	(756)	(762)
Within 1 to 2 years | Forward foreign exchange contracts
Disclosure of detailed information about financial instruments
Derivative financial liabilities, contractual cash flows	(4)	(2)
Derivative financial liabilities, contractual inflows	180	92
Derivative financial liabilities, contractual outflows	(184)	(94)
Derivative financial assets, contractual cash flows	23	25
Derivative financial assets, contractual inflows	274	364
Derivative financial assets, contractual outflows	(251)	(339)
Within 1 to 2 years | Interest rate derivatives
Disclosure of detailed information about financial instruments
Derivative financial liabilities, contractual cash flows	(22)	(17)
Derivative financial assets, contractual cash flows	5	4
Within 1 to 2 years | Cross-currency interest rate swaps
Disclosure of detailed information about financial instruments
Derivative financial liabilities, contractual cash flows		(539)
Derivative financial assets, contractual cash flows		527
Within 2 to 3 years
Disclosure of detailed information about financial instruments
Lease liabilities, contractual cash flow	(19)	(17)
Borrowings	(424)	(665)
Borrowings and derivative financial (liabilities) assets, contractual cash flows	(571)	(775)
Within 2 to 3 years | Fixed rate
Disclosure of detailed information about financial instruments
Borrowings, contractual cash flow	(541)	(764)
Within 2 to 3 years | Forward foreign exchange contracts
Disclosure of detailed information about financial instruments
Derivative financial liabilities, contractual cash flows	(2)
Derivative financial liabilities, contractual inflows	124	14
Derivative financial liabilities, contractual outflows	(126)	(14)
Derivative financial assets, contractual cash flows	8	13
Derivative financial assets, contractual inflows	85	199
Derivative financial assets, contractual outflows	(77)	(186)
Within 2 to 3 years | Interest rate derivatives
Disclosure of detailed information about financial instruments
Derivative financial liabilities, contractual cash flows	(22)	(13)
Derivative financial assets, contractual cash flows	5	6
Within 3 to 4 years
Disclosure of detailed information about financial instruments
Lease liabilities, contractual cash flow	(10)	(12)
Borrowings	(670)	(449)
Borrowings and derivative financial (liabilities) assets, contractual cash flows	(811)	(557)
Within 3 to 4 years | Fixed rate
Disclosure of detailed information about financial instruments
Borrowings, contractual cash flow	(783)	(538)
Within 3 to 4 years | Forward foreign exchange contracts
Disclosure of detailed information about financial instruments
Derivative financial liabilities, contractual inflows	17	3
Derivative financial liabilities, contractual outflows	(17)	(3)
Derivative financial assets, contractual cash flows		1
Derivative financial assets, contractual inflows	6	30
Derivative financial assets, contractual outflows	(6)	(29)
Within 3 to 4 years | Interest rate derivatives
Disclosure of detailed information about financial instruments
Derivative financial liabilities, contractual cash flows	(22)	(13)
Derivative financial assets, contractual cash flows	4	5
Within 4 to 5 years
Disclosure of detailed information about financial instruments
Lease liabilities, contractual cash flow	(4)	(6)
Borrowings	(762)	(698)
Borrowings and derivative financial (liabilities) assets, contractual cash flows	(885)	(808)
Within 4 to 5 years | Fixed rate
Disclosure of detailed information about financial instruments
Borrowings, contractual cash flow	(862)	(792)
Within 4 to 5 years | Interest rate derivatives
Disclosure of detailed information about financial instruments
Derivative financial liabilities, contractual cash flows	(22)	(14)
Derivative financial assets, contractual cash flows	3	4
After 5 years
Disclosure of detailed information about financial instruments
Lease liabilities, contractual cash flow	(27)	(28)
Borrowings	(2,644)	(2,733)
Borrowings and derivative financial (liabilities) assets, contractual cash flows	(3,012)	(3,073)
After 5 years | Fixed rate
Disclosure of detailed information about financial instruments
Borrowings, contractual cash flow	(2,979)	(3,037)
After 5 years | Interest rate derivatives
Disclosure of detailed information about financial instruments
Derivative financial liabilities, contractual cash flows	(22)	(27)
Derivative financial assets, contractual cash flows	£ 16	£ 19

Financial instruments - Market

Financial instruments - Market risk - Additional information (Details) - Market risk - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of detailed information about financial instruments
Percentage of borrowings at fixed rates	56%
Reasonably possible reduction in short-term interest rates	1%
Decrease in net finance costs due to reasonably possible reduction in short-term interest rates	£ 28	£ 26
Reasonably possible increase in short-term interest rates	1%
Increase in net finance costs due to reasonably possible increase in short-term interest rates	£ 28	26
Decrease in equity due to reasonably possible decrease in short-term interest rate.	0	0
Increase in equity due to reasonably possible increase in short-term interest rate.	£ 0	0
Highly predictable future cash flows hedging period	24 months
Assumed weakening of foreign currencies	10%
Decrease in carrying value of net assets, excluding net borrowings, due to assumed weakening of foreign currencies	£ 852	835
Decrease in net borrowings, due to assumed weakening of foreign currencies	£ 683	716
Assumed strengthening of foreign currencies	10%
Increase in carrying value of net assets, excluding net borrowings, due to assumed strengthening of foreign currencies	£ 852	835
Increase in net borrowings, due to assumed strengthening of foreign currencies	683	716
Decrease in net profit, due to assumed weakening of foreign currencies	156	145
Increase in net profit, due to assumed strengthening of foreign currencies	156	£ 145
US dollar LIBOR
Disclosure of detailed information about financial instruments
Bonds swapped	£ 1,134
Weighted average maturity period of swapped bonds	3 years
Euribor
Disclosure of detailed information about financial instruments
Bonds swapped	£ 620
Weighted average maturity period of swapped bonds	6 years 4 months 24 days
Scientific, technical & medical | Subscriptions
Disclosure of detailed information about financial instruments
Highly predictable future cash flows hedging period	50 months

Financial instruments - Credit

Financial instruments - Credit risk - Additional information (Details) - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments
Cash and cash equivalents	£ 119	£ 155	£ 334	£ 113
Percentage of cash and cash equivalents held with banks rated A-/A3 or better	91%	91%
Trade receivables	£ 2,184	£ 2,025
Total past due
Disclosure of detailed information about financial instruments
Trade receivables	428	480	449
Up to one month
Disclosure of detailed information about financial instruments
Trade receivables	217	259	265
Two to three months
Disclosure of detailed information about financial instruments
Trade receivables	130	130	115
Four to six months
Disclosure of detailed information about financial instruments
Trade receivables	57	56	46
Greater than six months
Disclosure of detailed information about financial instruments
Trade receivables	£ 24	£ 35	£ 23

Financial instruments - Summa_2

Financial instruments - Summary of fair value hedges (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Hedged borrowings
Disclosure Of Detailed Information About Hedged Items
Principal amount	£ (2,153)	£ (2,587)
€500m bond and €500m interest rate swaps maturing 2024
Disclosure Of Detailed Information About Hedged Items
Principal amount		£ (433)
Fixed rate		1%
Floating rate basis		Euribor+0.7%
€500m bond and €500m interest rate swaps maturing 2024 | Euribor
Disclosure Of Detailed Information About Hedged Items
Adjustment to floating rate		0.70%
€600m bond and €600m/$669.3m cross-currency interest rate swaps maturing 2025
Disclosure Of Detailed Information About Hedged Items
Principal amount	£ (535)	£ (524)
Fixed rate	1.30%
Floating rate basis	USD SOFR+1.5%
€600m bond and €600m/$669.3m cross-currency interest rate swaps maturing 2025 | US dollar SOFR
Disclosure Of Detailed Information About Hedged Items
Adjustment to floating rate	1.50%
$750m bond and $750m interest rate swaps maturing 2030
Disclosure Of Detailed Information About Hedged Items
Principal amount	£ (599)	(588)
Fixed rate	3%
Floating rate basis	USD SOFR+1.8%
$750m bond and $750m interest rate swaps maturing 2030 | US dollar SOFR
Disclosure Of Detailed Information About Hedged Items
Adjustment to floating rate	1.80%
€750m bond and €750m interest rate swaps maturing 2031
Disclosure Of Detailed Information About Hedged Items
Principal amount	£ (620)	(650)
Fixed rate	3.80%
Floating rate basis	Euribor+0.9%
€750m bond and €750m interest rate swaps maturing 2031 | Euribor
Disclosure Of Detailed Information About Hedged Items
Adjustment to floating rate	0.90%
$500m bond and $500m interest rate swaps maturing 2032
Disclosure Of Detailed Information About Hedged Items
Principal amount	£ (399)	£ (392)
Fixed rate	4.80%
Floating rate basis	USD SOFR+2.0%
$500m bond and $500m interest rate swaps maturing 2032 | US dollar SOFR
Disclosure Of Detailed Information About Hedged Items
Adjustment to floating rate	2%

Financial instruments - Summa_3

Financial instruments - Summary of gains and losses on the borrowings and related derivatives designated as fair value hedges (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Detailed Information About Hedged Items
Borrowings	£ (6,544)	£ (6,497)
US dollars
Disclosure Of Detailed Information About Hedged Items
Borrowings	(2,713)	(2,459)
Euro
Disclosure Of Detailed Information About Hedged Items
Borrowings	(3,757)	(3,973)
Fair value hedges
Disclosure Of Detailed Information About Hedged Items
Accumulated fair value hedge adjustment on hedged item at start of year	104	211	£ (28)
Fair value movement gain/(loss)	26	(83)	236
Redemption/close-out		(16)
Exchange gain/(loss)	4	(8)	3
Accumulated fair value hedge adjustment on hedged item at end of year	134	104	211
Borrowings	(2,008)	(2,471)	(2,554)
Accumulated fair value adjustment on hedging instrument at start of year	(108)	(213)	35
Fair value movement gain/(loss)	(28)	81	(245)
Redemption/close-out		16
Exchange gain/(loss)	(4)	8	(3)
Accumulated fair value adjustment on hedging instrument at end of year	(140)	(108)	(213)
Hedging instrument, liabilities	(140)	(108)	(213)
Accumulated fair value adjustment on hedged item and hedging instrument at start of year	(4)	(2)	7
Gain (loss) on change in fair value of hedged item and hedging instrument	(2)	(2)	(9)
Accumulated fair value adjustment on hedged item and hedging instrument at end of year	(6)	(4)	(2)
Borrowings net of related hedging instruments	(2,148)	(2,579)	(2,767)
Fair value hedges | US dollars
Disclosure Of Detailed Information About Hedged Items
Accumulated fair value hedge adjustment on hedged item at start of year	97	141	(1)
Fair value movement gain/(loss)	14	(22)	140
Redemption/close-out		(16)
Exchange gain/(loss)	3	(6)	2
Accumulated fair value hedge adjustment on hedged item at end of year	114	97	141
Borrowings	(875)	(871)	(1,630)
Accumulated fair value adjustment on hedging instrument at start of year	(100)	(143)	8
Fair value movement gain/(loss)	(16)	21	(149)
Redemption/close-out		16
Exchange gain/(loss)	(3)	6	(2)
Accumulated fair value adjustment on hedging instrument at end of year	(119)	(100)	(143)
Hedging instrument, liabilities	(119)	(100)	(143)
Accumulated fair value adjustment on hedged item and hedging instrument at start of year	(3)	(2)	7
Gain (loss) on change in fair value of hedged item and hedging instrument	(2)	(1)	(9)
Accumulated fair value adjustment on hedged item and hedging instrument at end of year	(5)	(3)	(2)
Borrowings net of related hedging instruments	(994)	(971)	(1,773)
Fair value hedges | Euro
Disclosure Of Detailed Information About Hedged Items
Accumulated fair value hedge adjustment on hedged item at start of year	7	70	(27)
Fair value movement gain/(loss)	12	(61)	96
Exchange gain/(loss)	1	(2)	1
Accumulated fair value hedge adjustment on hedged item at end of year	20	7	70
Borrowings	(1,133)	(1,600)	(924)
Accumulated fair value adjustment on hedging instrument at start of year	(8)	(70)	27
Fair value movement gain/(loss)	(12)	60	(96)
Exchange gain/(loss)	(1)	2	(1)
Accumulated fair value adjustment on hedging instrument at end of year	(21)	(8)	(70)
Hedging instrument, liabilities	(21)	(8)	(70)
Accumulated fair value adjustment on hedged item and hedging instrument at start of year	(1)
Gain (loss) on change in fair value of hedged item and hedging instrument		(1)
Accumulated fair value adjustment on hedged item and hedging instrument at end of year	(1)	(1)
Borrowings net of related hedging instruments	£ (1,154)	£ (1,608)	£ (994)

Financial instruments - Fair va

Financial instruments - Fair value hedges - Additional information (Details) £ in Millions, $ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2023 GBP (£)	Dec. 31, 2023 USD ($)	Dec. 31, 2024 GBP (£)	Dec. 31, 2023 GBP (£)	Dec. 31, 2008 GBP (£)
Borrowings de-designated from hedge relationship in 2008
Disclosure of detailed information about financial instruments
Accumulated fair value hedge adjustment on hedged item	£ 1		£ 0	£ 1
Cash inflow from close-out of hedging instrument					£ 62
Fair value movement gain/(loss)			£ 1	9
$200m bond maturing 2027
Disclosure of detailed information about financial instruments
Repayment of bonds | $		$ 200
Fair value adjustment on redeemed bonds, expensed to income statement	16
Cash outflow on derivatives related to redeemed bonds	£ 16
Fair value movement gain/(loss)				£ 6

Financial instruments - Cash fl

Financial instruments - Cash flow hedges - Additional information (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Financial instruments
Maximum period of fixed exchange rate for subscription revenues	50 months
Cash flow hedge gain (loss) recognised in revenue	£ 22	£ (17)
Cash flow hedge gain (loss) recognised in finance costs	(2)	(1)
Tax debit (credit) in relation to cash flow hedges recognised in profit or loss	£ 5	£ (4)

Financial instruments - Summa_4

Financial instruments - Summary of movements in the hedge reserve including gains and losses on cash flow hedging instruments (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments
Gains/(losses) arising during the period	£ 11	£ 29	£ (18)
Amounts recognised in income statement	(20)	18	(17)
Hedge reserve
Disclosure of detailed information about financial instruments
Hedge reserve balance at the start of the period: gains/(losses) deferred	36	(11)
Gains/(losses) arising during the period	11	29
Amounts recognised in income statement	(20)	18
Hedge reserve balance at the end of the period: gains/(losses) deferred	27	36	(11)
Reserve of cash flow hedges, tax	(6)	(9)
Interest rate hedge reserve
Disclosure of detailed information about financial instruments
Hedge reserve balance at the start of the period: gains/(losses) deferred		(2)
Gains/(losses) arising during the period	(5)	1
Amounts recognised in income statement	2	1
Hedge reserve balance at the end of the period: gains/(losses) deferred	(3)		(2)
Cost of hedging reserve
Disclosure of detailed information about financial instruments
Hedge reserve balance at the start of the period: gains/(losses) deferred	(4)	(1)
Gains/(losses) arising during the period	6	(3)
Hedge reserve balance at the end of the period: gains/(losses) deferred	2	(4)	(1)
Foreign currency hedge reserve
Disclosure of detailed information about financial instruments
Hedge reserve balance at the start of the period: gains/(losses) deferred	40	(8)
Gains/(losses) arising during the period	10	31
Amounts recognised in income statement	(22)	17
Hedge reserve balance at the end of the period: gains/(losses) deferred	£ 28	£ 40	£ (8)

Financial instruments - Summa_5

Financial instruments - Summary of deferred gains and losses on cash flow hedges currently expected to recognized in future periods (Details) - Foreign currency hedge reserve - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments
Reserve of cash flow hedges, before tax	£ 28	£ 40	£ (8)
Principal amount of hedges	1,264
Carrying values	£ 36
Within 1 year
Disclosure of detailed information about financial instruments
Reserve of cash flow hedges, before tax	£ 17
Principal amount of hedges	465
Carrying values	£ 25
Within 1 to 2 years
Disclosure of detailed information about financial instruments
Reserve of cash flow hedges, before tax	£ 11
Principal amount of hedges	501
Carrying values	£ 11
Within 2 to 3 years
Disclosure of detailed information about financial instruments
Principal amount of hedges	268
Within 3 to 4 years
Disclosure of detailed information about financial instruments
Principal amount of hedges	30

Inventories and pre-publicati_3

Inventories and pre-publication costs - Summary of inventories and pre-publication cost (Detail) - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023
Inventories and pre-publication costs
Raw materials		£ 1
Pre-publication costs	£ 302	278
Finished goods	29	39
Total	£ 331	£ 318

Inventories and pre-publicati_4

Inventories and pre-publication costs - Additional information (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Inventories and pre-publication costs
Pre-publication costs capitalized	£ 92	£ 93
Pre-publication costs, amortization charge	£ 77	£ 76

Trade and other receivables - S

Trade and other receivables - Summary of trade and other receivables (Details) - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023
Trade and other receivables
Trade receivables	£ 2,184	£ 2,025
Prepayments and accrued income	283	288
Current tax receivable	42	6
Net finance lease receivable	2	4
Total	2,511	2,323
Gross
Trade and other receivables
Trade receivables	2,306	2,144
Loss allowance
Trade and other receivables
Trade receivables	£ (122)	£ (119)

Trade and other receivables -_2

Trade and other receivables - Summary of movements in loss allowance (Details) - Trade receivables - Loss allowance - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Trade and other receivables
At start of year	£ 119	£ 118
Charge for the year	17	8
Trade receivables written off	(13)	(3)
Exchange translation differences	(1)	(4)
At end of year	£ 122	£ 119

Trade and other payables - Summ

Trade and other payables - Summary of Trade and other payable (Detail) - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023
Trade and other payables
Trade payables	£ 223	£ 171
Accruals	851	842
Social security and other taxes	181	174
Other payables	539	487
Deferred income	2,328	2,297
Total	£ 4,122	£ 3,971

Debt - Summary of types of borr

Debt - Summary of types of borrowings both current and non-current (Details) - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of detailed information about borrowings
Debt	£ 6,544	£ 6,497
Short-term bank loans, overdrafts and commercial paper
Disclosure of detailed information about borrowings
Debt	762	220
Term debt, excluding fair value hedging relationships
Disclosure of detailed information about borrowings
Debt	3,551	3,546
Lease liabilities
Disclosure of detailed information about borrowings
Debt	103	141
Term debt, in fair value hedging relationships
Disclosure of detailed information about borrowings
Debt	2,008	2,471
Term debt, previously in fair value hedging relationships
Disclosure of detailed information about borrowings
Debt	120	119
Within 1 year
Disclosure of detailed information about borrowings
Debt	1,412	1,313
Within 1 year | Short-term bank loans, overdrafts and commercial paper
Disclosure of detailed information about borrowings
Debt	762	220
Within 1 year | Term debt, excluding fair value hedging relationships
Disclosure of detailed information about borrowings
Debt		606
Within 1 year | Lease liabilities
Disclosure of detailed information about borrowings
Debt	38	57
Within 1 year | Term debt, in fair value hedging relationships
Disclosure of detailed information about borrowings
Debt	492	430
Within 1 year | Term debt, previously in fair value hedging relationships
Disclosure of detailed information about borrowings
Debt	120
After 1 year
Disclosure of detailed information about borrowings
Debt	5,132	5,184
After 1 year | Term debt, excluding fair value hedging relationships
Disclosure of detailed information about borrowings
Debt	3,551	2,940
After 1 year | Lease liabilities
Disclosure of detailed information about borrowings
Debt	65	84
After 1 year | Term debt, in fair value hedging relationships
Disclosure of detailed information about borrowings
Debt	£ 1,516	2,041
After 1 year | Term debt, previously in fair value hedging relationships
Disclosure of detailed information about borrowings
Debt		£ 119

Debt - Additional information (

Debt - Additional information (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
RELX Capital Inc.
Disclosure of detailed information about borrowings
Proportion of ownership interest in subsidiary	100%
Financial liabilities measured at amortised cost (excluding lease liabilities)
Disclosure of detailed information about borrowings
Fair value of debt	£ 4,193	£ 3,610
Term debt, in fair value hedging relationships
Disclosure of detailed information about borrowings
Fair value of debt	2,068	2,576
Term debt, previously in fair value hedging relationships
Disclosure of detailed information about borrowings
Fair value of debt	£ 121	£ 122

Debt - Summary of repayment yea

Debt - Summary of repayment years for borrowings (Details) € in Millions, £ in Millions, $ in Billions	1 Months Ended
	Mar. 31, 2024 EUR (€)	Dec. 31, 2024 GBP (£)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 GBP (£)
Disclosure of detailed information about borrowings
Debt		£ 6,544		£ 6,497
Committed bank facility		2,400	$ 3
Short-term bank loans, overdrafts and commercial paper
Disclosure of detailed information about borrowings
Debt		762		220
Term debt
Disclosure of detailed information about borrowings
Debt		5,679		6,136
Term debt, euro denominated, issued in March 2024
Disclosure of detailed information about borrowings
Notional amount | €	€ 850
Coupon	3.375%
Maturity period	9 years
Lease liabilities
Disclosure of detailed information about borrowings
Debt		103		141
Within 1 year
Disclosure of detailed information about borrowings
Debt		1,412		1,313
Within 1 year | Short-term bank loans, overdrafts and commercial paper
Disclosure of detailed information about borrowings
Debt		762		220
Within 1 year | Term debt
Disclosure of detailed information about borrowings
Debt		612		1,036
Within 1 year | Lease liabilities
Disclosure of detailed information about borrowings
Debt		38		57
After 1 year
Disclosure of detailed information about borrowings
Debt		5,132		5,184
After 1 year | Term debt
Disclosure of detailed information about borrowings
Debt		5,067		5,100
After 1 year | Lease liabilities
Disclosure of detailed information about borrowings
Debt		65		84
Within 1 to 2 years
Disclosure of detailed information about borrowings
Debt		632		639
Within 1 to 2 years | Term debt
Disclosure of detailed information about borrowings
Debt		619		620
Within 1 to 2 years | Lease liabilities
Disclosure of detailed information about borrowings
Debt		13		19
Within 2 to 3 years
Disclosure of detailed information about borrowings
Debt		424		665
Within 2 to 3 years | Term debt
Disclosure of detailed information about borrowings
Debt		412		647
Within 2 to 3 years | Lease liabilities
Disclosure of detailed information about borrowings
Debt		12		18
Within 3 to 4 years
Disclosure of detailed information about borrowings
Debt		670		449
Within 3 to 4 years | Term debt
Disclosure of detailed information about borrowings
Debt		658		432
Within 3 to 4 years | Lease liabilities
Disclosure of detailed information about borrowings
Debt		12		17
Within 4 to 5 years
Disclosure of detailed information about borrowings
Debt		762		698
Within 4 to 5 years | Term debt
Disclosure of detailed information about borrowings
Debt		753		689
Within 4 to 5 years | Lease liabilities
Disclosure of detailed information about borrowings
Debt		9		9
After 5 years
Disclosure of detailed information about borrowings
Debt		2,644		2,733
After 5 years | Term debt
Disclosure of detailed information about borrowings
Debt		2,625		2,712
After 5 years | Lease liabilities
Disclosure of detailed information about borrowings
Debt		£ 19		£ 21

Debt - Analysis of borrowings b

Debt - Analysis of borrowings by currency (Details) € in Millions, £ in Millions	Dec. 31, 2024 GBP (£)	Dec. 31, 2024 EUR (€)	Dec. 31, 2023 GBP (£)	Dec. 31, 2023 EUR (€)
Disclosure of detailed information about borrowings
Debt	£ 6,544		£ 6,497
Short-term bank loans, overdrafts and commercial paper
Disclosure of detailed information about borrowings
Debt	762		220
Term debt
Disclosure of detailed information about borrowings
Debt	5,679		6,136
Lease liabilities
Disclosure of detailed information about borrowings
Debt	103		141
US dollars
Disclosure of detailed information about borrowings
Debt	2,713		2,459
US dollars | Short-term bank loans, overdrafts and commercial paper
Disclosure of detailed information about borrowings
Debt	446		188
US dollars | Term debt
Disclosure of detailed information about borrowings
Debt	2,246		2,234
Debt denominated in another currency, swapped into given currency	493	€ 600	501	€ 600
Fair value of derivative financial instruments against debt denominated in another currency, swapped into given currency	42		23
US dollars | Lease liabilities
Disclosure of detailed information about borrowings
Debt	21		37
Pounds sterling
Disclosure of detailed information about borrowings
Debt	38		29
Pounds sterling | Short-term bank loans, overdrafts and commercial paper
Disclosure of detailed information about borrowings
Debt	8
Pounds sterling | Lease liabilities
Disclosure of detailed information about borrowings
Debt	30		29
Euro
Disclosure of detailed information about borrowings
Debt	3,757		3,973
Euro | Short-term bank loans, overdrafts and commercial paper
Disclosure of detailed information about borrowings
Debt	295		24
Euro | Term debt
Disclosure of detailed information about borrowings
Debt	3,433		3,902
Euro | Lease liabilities
Disclosure of detailed information about borrowings
Debt	29		47
Other currencies
Disclosure of detailed information about borrowings
Debt	36		36
Other currencies | Short-term bank loans, overdrafts and commercial paper
Disclosure of detailed information about borrowings
Debt	13		8
Other currencies | Lease liabilities
Disclosure of detailed information about borrowings
Debt	£ 23		£ 28

Lease arrangements - Summary of

Lease arrangements - Summary of right of use assets (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Lease arrangements
At start of year	£ 113	£ 145
Additions	32	38
Remeasurement	5	6
Disposals	(9)	(7)
Depreciation	(50)	(65)
Exchange translation differences	(2)	(4)
At end of year	£ 89	£ 113

Lease arrangements - Summary _2

Lease arrangements - Summary of lease liability (Details) - GBP (£) £ in Millions	Dec. 31, 2024	Dec. 31, 2023
Disclosure of lease liabilities
Total lease liabilities	£ (103)	£ (141)
Property
Disclosure of lease liabilities
Current lease liabilities	(37)	(55)
Non-current lease liabilities	(63)	(82)
Non-property
Disclosure of lease liabilities
Current lease liabilities	(1)	(2)
Non-current lease liabilities	£ (2)	£ (2)

Lease arrangements - Additional

Lease arrangements - Additional information (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lease arrangements
Interest expense on lease liabilities	£ 5	£ 6	£ 6
Leases with future cash outflows	£ 7	£ 6

Share capital and shares held_2

Share capital and shares held in treasury - Summary of called up share capital issued and fully paid (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share capital and shares held in treasury
Shares issued at start of year	1,906,907,605	1,934,880,088
Issue of ordinary shares	2,937,114	3,027,517
Cancellation of ordinary shares	(29,000,000)	(31,000,000)
Shares issued at end of year	1,880,844,719	1,906,907,605
At start of year	£ 275	£ 279
Cancellation of ordinary share	(3)	(4)
At end of year	£ 272	£ 275

Share capital and shares held_3

Share capital and shares held in treasury - Summary of number of ordinary shares (Details) - GBP (£) £ / shares in Units, £ in Millions	2 Months Ended	12 Months Ended
	Feb. 28, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 06, 2024
Share capital and shares held in treasury
Shares issued at start of year	1,880,844,719	1,906,907,605	1,934,880,088
Treasury shares at start of year	(24,900,000)	(25,400,000)
Shares outstanding at start of year	1,855,941,895	1,881,531,883	1,909,500,000
Issue of ordinary shares		2,937,114	3,027,517
Repurchase of ordinary shares		(28,900,000)	(30,900,000)	(21,700,000)
Net (purchase)/release of shares by the Employee Benefit Trust		400,000	(100,000)
Cancellation of ordinary shares		(29,000,000)	(31,000,000)
Cancellation of treasury share		29,000,000	31,000,000
Shares issued at end of year		1,880,844,719	1,906,907,605	1,934,880,088
Treasury shares at end of year		(24,900,000)	(25,400,000)
Shares outstanding at end of year		1,855,941,895	1,881,531,883	1,909,500,000
Average price of ordinary shares repurchased		£ 34.61
Repurchase of ordinary shares		£ 1,000	£ 800	£ 500
Value of ordinary shares non-discretionary repurchase programme					£ 150
Accrual for ordinary shares non-discretionary repurchase programme		£ 150
Number of ordinary shares repurchased under non-discretionary programme	3,800,000
Shares purchased by Employee Benefit Trust		2,200,000
Purchase of shares by Employee Benefit Trust		£ 75	50	50
Shares held by the Employee Benefit Trust, amount		£ 139	£ 117	£ 101
Treasury shares held by employee benefit trust		5,295,154	5,663,529	5,553,401
Treasury shares held by parent company		19,607,670	19,712,193	19,800,067

Other reserves - Summary of oth

Other reserves - Summary of other reserves and translation reserve (Details) - GBP (£) £ in Millions, shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other reserves and translation reserve
Equity at beginning of period	£ 3,439	£ 3,754	£ 3,224
Profit attributable to shareholders	1,934	1,781	1,634
Dividends paid	(1,130)	(1,066)	(992)
Actuarial (losses)/gains on defined benefit pension schemes	43	(75)	164
Fair value movements on cash flow hedges	11	29	(18)
Transfer to profit from cash flow hedge reserve	(20)	18	(17)
Tax recognised in other comprehensive income	(8)	7	(35)
Exchange differences on translation of foreign operations	175	(285)	427
Increase in share based remuneration reserve (including tax)	79	77	47
Acquisition of non-controlling interest	(1)		(1)
Equity at end of period	£ 3,504	£ 3,439	3,754
Cancellation of treasury share	29	31
Other reserves and translation reserve
Other reserves and translation reserve
Equity at beginning of period	£ 2,180	£ 2,394
Profit attributable to shareholders	1,934	1,781
Dividends paid	(1,121)	(1,059)
Actuarial (losses)/gains on defined benefit pension schemes	43	(75)
Fair value movements on cash flow hedges	11	29
Transfer to profit from cash flow hedge reserve	(20)	18
Tax recognised in other comprehensive income	(8)	7
Exchange differences on translation of foreign operations	175	(285)
Cancellation of shares	(850)	(673)
Increase in share based remuneration reserve (including tax)	79	77
Settlement of share awards	(53)	(34)
Acquisition of non-controlling interest	(44)
Equity at end of period	2,326	2,180	2,394
Translation reserve
Other reserves and translation reserve
Equity at beginning of period	392	677	250
Exchange differences on translation of foreign operations	175
Equity at end of period	567	392	677
Exchange differences on net debt	46
Exchange differences on assets, net of other liabilities	129
Other reserves
Other reserves and translation reserve
Equity at beginning of period	1,788	1,717	2,081
Dividends paid	(1,121)	(1,059)	(983)
Cancellation of shares	(850)	(673)	(1,120)
Increase in share based remuneration reserve (including tax)	79	77	47
Settlement of share awards	(53)	(34)	(35)
Acquisition of non-controlling interest	(44)		(1)
Equity at end of period	1,759	1,788	£ 1,717
Hedge reserve
Other reserves and translation reserve
Equity at beginning of period	27
Fair value movements on cash flow hedges	11	29
Transfer to profit from cash flow hedge reserve	(20)	18
Tax recognised in other comprehensive income	3
Equity at end of period	21	27
Other reserves excluding hedges
Other reserves and translation reserve
Equity at beginning of period	1,761
Profit attributable to shareholders	1,934
Dividends paid	(1,121)
Actuarial (losses)/gains on defined benefit pension schemes	43
Tax recognised in other comprehensive income	(11)
Cancellation of shares	(850)
Increase in share based remuneration reserve (including tax)	79
Settlement of share awards	(53)
Acquisition of non-controlling interest	(44)
Equity at end of period	£ 1,738	£ 1,761

Related party transactions - Ad

Related party transactions - Additional information (Details) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related party transactions
Deemed benefits provided to former directors	£ 0	£ 0	£ 0
Loans, advances or guarantees provided on behalf of Directors	0	0	0
Aggregate gains made by executive directors on exercise of options	11.7	6.7	0
Joint ventures and associates
Related party transactions
Revenue from sales of goods and services	23.3	17.4	0.4
Amounts receivable	6.6	6.6	4.2
Amounts payable	£ 1.6	£ 2.3	£ 1.2

Related party transactions - Su

Related party transactions - Summary of Key management personnel remunerations (Detail) - GBP (£) £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related party transactions
Salaries, other short-term employee benefits and non-executive fees	£ 8	£ 8	£ 7
Share based remuneration	14	14	7
Total	£ 22	£ 22	£ 14

Related party transactions - _2

Related party transactions - Summary of executive director remuneration (Detail) - GBP (£) £ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related party transactions
Salary	£ 2,245	£ 2,190	£ 2,137
Benefits	109	97	97
Annual incentive	3,576	3,808	3,251
Share based remuneration	14,322	14,354	6,857
Pension	247	241	268
Total Executive Directors	£ 20,499	£ 20,690	£ 12,610

Related party transactions - _3

Related party transactions - Summary of non-executive directors remuneration (Details) - GBP (£) £ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related party transactions
Fees and benefits	£ 1,781	£ 1,566	£ 1,566

Exchange rates (Details)

Exchange rates (Details)	12 Months Ended
	Dec. 31, 2024 € / £	Dec. 31, 2024 € / £ $ / £	Dec. 31, 2023 € / £	Dec. 31, 2023 $ / £ € / £	Dec. 31, 2022 € / £	Dec. 31, 2022 $ / £	Dec. 31, 2024 $ / £	Dec. 31, 2023 $ / £
Exchange rates
Average foreign exchange rate	1.18	1.28	1.15	1.24	1.17	1.24
Closing foreign exchange rate	1.21	1.21	1.15	1.15			1.25	1.28

Related undertakings - Summary

Related undertakings - Summary of full list of related parties - Australia to Italy (Details)	Dec. 31, 2024
Australia | LNRS Data Services (Australia) Pty Ltd | Ordinary
Related party transactions
Company name	LNRS Data Services (Australia) Pty Ltd
Percentage of undertaking	100%
Reg office	AUS1
Australia | Reed Exhibitions Australia Pty Limited | Ordinary
Related party transactions
Company name	Reed Exhibitions Australia Pty Limited
Percentage of undertaking	100%
Reg office	AUS2
Australia | RELX Holdings Australia Pty Ltd | Ordinary
Related party transactions
Company name	RELX Holdings Australia Pty Ltd
Percentage of undertaking	100%
Reg office	AUS2
Australia | RELX Trading Australia Pty Limited | Ordinary
Related party transactions
Company name	RELX Trading Australia Pty Limited
Percentage of undertaking	100%
Reg office	AUS2
Austria | LexisNexis Verlag ARD ORAC GmbH & Co KG | Partnership Interest
Related party transactions
Company name	LexisNexis Verlag ARD ORAC GmbH & Co KG
Percentage of undertaking	100%
Reg office	AUT2
Austria | ORAC GmbH | Ordinary
Related party transactions
Company name	ORAC GmbH
Percentage of undertaking	100%
Reg office	AUT2
Austria | RELX Austria GmbH | Ordinary
Related party transactions
Company name	RELX Austria GmbH
Percentage of undertaking	100%
Reg office	AUT3
Austria | RX CEE GmbH | Ordinary
Related party transactions
Company name	RX CEE GmbH
Percentage of undertaking	100%
Reg office	AUT1
Austria | RX Salzburg GmbH | Ordinary
Related party transactions
Company name	RX Salzburg GmbH
Percentage of undertaking	100%
Reg office	AUT3
Austria | Seminar Oberlaa GmbH | Ordinary
Related party transactions
Company name	Seminar Oberlaa GmbH
Percentage of undertaking	100%
Reg office	AUT4
Belgium | LexisNexis BV | Ordinary
Related party transactions
Company name	LexisNexis BV
Percentage of undertaking	100%
Reg office	BEL1
Belgium | Henchman B.V. | Ordinary
Related party transactions
Company name	Henchman B.V.
Percentage of undertaking	100%
Reg office	BEL2
Brazil | Elsevier Editora Limiteda | Quotas
Related party transactions
Company name	Elsevier Editora Limiteda
Percentage of undertaking	100%
Reg office	BRA1
Brazil | Gestora de Inteligencia de Credito S.A. | Preferred, Ordinary
Related party transactions
Company name	Gestora de Inteligencia de Credito S.A. (20%)
Percentage of undertaking	20%
Reg office	BRA6
Brazil | LexisNexis Informacoes e Sistemas Empresariais Limiteda | Quotas
Related party transactions
Company name	LexisNexis Informacoes e Sistemas Empresariais Limiteda
Percentage of undertaking	100%
Reg office	BRA4
Brazil | LexisNexis Servicos de Analise de Risco Limiteda | Quotas
Related party transactions
Company name	LexisNexis Servicos de Analise de Risco Limiteda
Percentage of undertaking	100%
Reg office	BRA5
Brazil | MLex Brasil Midia Mercadologica Limiteda | Quotas
Related party transactions
Company name	MLex Brasil Midia Mercadologica Limiteda
Percentage of undertaking	100%
Reg office	BRA3
Brazil | Reed Exhibitions Alcantara Machado Limiteda | Quotas
Related party transactions
Company name	Reed Exhibitions Alcantara Machado Limiteda
Percentage of undertaking	100%
Reg office	BRA2
Canada | Corps Events IntCan | Class A Voting
Related party transactions
Company name	Corps Events IntCan
Percentage of undertaking	100%
Reg office	CAN3
Canada | Elsevier Canada Inc. | Class A Common
Related party transactions
Company name	Elsevier Canada Inc.
Percentage of undertaking	100%
Reg office	CAN2
Canada | Human API Technologies Inc. | Voting
Related party transactions
Company name	Human API Technologies Inc.
Percentage of undertaking	100%
Reg office	CAN4
Canada | LexisNexis Canada Inc. | Class B Voting
Related party transactions
Company name	LexisNexis Canada Inc.
Percentage of undertaking	100%
Reg office	CAN1
Canada | PCLaw Time Matters Canada Inc. | Common
Related party transactions
Company name	PCLaw Time Matters Canada Inc.
Percentage of undertaking	100%
Reg office	CAN5
China | Bakery China Exhibitions Co., Limited | Ordinary
Related party transactions
Company name	Bakery China Exhibitions Co., Limited (25%)
Percentage of undertaking	25%
Reg office	CHN1
China | Beijing Medtime Elsevier Education Technology Co., Limited | Common
Related party transactions
Company name	Beijing Medtime Elsevier Education Technology Co., Limited (49%)
Percentage of undertaking	49%
Reg office	CHN2
China | Beijing Reed Elsevier Science and Technology Co Ltd | Common
Related party transactions
Company name	Beijing Reed Elsevier Science and Technology Co Ltd1
Percentage of undertaking	100%
Reg office	CHN19
China | C-One Energy (Guangzhou) Co., Limited | Ordinary
Related party transactions
Company name	C-One Energy (Guangzhou) Co., Limited
Percentage of undertaking	100%
Reg office	CHN5
China | Jingxunlingsi (Beijing) Information Technology Co Ltd | Ordinary
Related party transactions
Company name	Jingxunlingsi (Beijing) Information Technology Co Ltd1
Percentage of undertaking	100%
Reg office	CHN4
China | KeAi Communications Co., Limited | Ordinary
Related party transactions
Company name	KeAi Communications Co., Limited (49%)
Percentage of undertaking	49%
Reg office	CHN15
China | LexisNexis Information Technology Co. Limited | Ordinary
Related party transactions
Company name	LexisNexis Information Technology Co. Limited
Percentage of undertaking	100%
Reg office	CHN4
China | LexisNexis Risk Solutions (Shanghai) Information Technologies Co Limited | Common
Related party transactions
Company name	LexisNexis Risk Solutions (Shanghai) Information Technologies Co Limited
Percentage of undertaking	100%
Reg office	CHN7
China | LNRS Data Services (Shanghai) Co Limited | Ordinary
Related party transactions
Company name	LNRS Data Services (Shanghai) Co Limited
Percentage of undertaking	100%
Reg office	CHN13
China | Peili Computer Co Ltd | Ordinary
Related party transactions
Company name	Peili Computer Co Ltd1
Percentage of undertaking	100%
Reg office	CHN13
China | Reed Elsevier Information Technology (Beijing) Co Limited | Common
Related party transactions
Company name	Reed Elsevier Information Technology (Beijing) Co Limited
Percentage of undertaking	100%
Reg office	CHN3
China | Reed Exhibitions (China) Co., Limited | Ordinary
Related party transactions
Company name	Reed Exhibitions (China) Co., Limited
Percentage of undertaking	100%
Reg office	CHN4
China | Reed Exhibitions Hengjin Co., Limited | Ordinary
Related party transactions
Company name	Reed Exhibitions Hengjin Co., Limited (51%)
Percentage of undertaking	51%
Reg office	CHN12
China | Reed Exhibitions Kuozhan (Shanghai) Co., Limited | Ordinary
Related party transactions
Company name	Reed Exhibitions Kuozhan (Shanghai) Co., Limited (60%)
Percentage of undertaking	60%
Reg office	CHN8
China | Reed Huabai Exhibitions (Beijing) Co., Limited | Ordinary
Related party transactions
Company name	Reed Huabai Exhibitions (Beijing) Co., Limited (51%)
Percentage of undertaking	51%
Reg office	CHN4
China | RX Huabo Exhibitions (Shenzhen) Co., Limited | Ordinary
Related party transactions
Company name	RX Huabo Exhibitions (Shenzhen) Co., Limited (65%)
Percentage of undertaking	65%
Reg office	CHN16
China | Reed Huaqun Exhibitions Co., Limited | Ordinary
Related party transactions
Company name	Reed Huaqun Exhibitions Co., Limited (52%)
Percentage of undertaking	52%
Reg office	CHN4
China | Reed Sinopharm Exhibitions Co., Limited | Ordinary
Related party transactions
Company name	Reed Sinopharm Exhibitions Co., Limited (50%)
Percentage of undertaking	50%
Reg office	CHN4
China | RX (China) Investment Co., Limited | Ordinary
Related party transactions
Company name	RX (China) Investment Co., Limited
Percentage of undertaking	100%
Reg office	CHN9
China | RX (Shenzhen) Co., Limited | Ordinary
Related party transactions
Company name	RX (Shenzhen) Co., Limited
Percentage of undertaking	100%
Reg office	CHN6
China | RX Huabo (Shenzhen) Technology Co. Limited | Ordinary
Related party transactions
Company name	RX Huabo (Shenzhen) Technology Co. Limited1
Percentage of undertaking	100%
Reg office	CHN16
China | RX Technology (Shanghai) Co. Limited | Ordinary
Related party transactions
Company name	RX Technology (Shanghai) Co. Limited1
Percentage of undertaking	100%
Reg office	CHN18
China | Shanghai Datong Medical Information Technology Co., Limited | Ordinary
Related party transactions
Company name	Shanghai Datong Medical Information Technology Co., Limited
Percentage of undertaking	100%
Reg office	CHN17
China | Shanghai SinoReal Exhibitions Co., Limited | Ordinary
Related party transactions
Company name	Shanghai SinoReal Exhibitions Co., Limited (27.5%)
Percentage of undertaking	27.50%
Reg office	CHN11
China | Tianjin Beikeqilong Exhibition Services Limited | Ordinary
Related party transactions
Company name	Tianjin Beikeqilong Exhibition Services Limited (12.5%)
Percentage of undertaking	12.50%
Reg office	CHN10
China | Z&R Exhibitions Co., Limited | Ordinary
Related party transactions
Company name	Z&R Exhibitions Co., Limited (27.5%)
Percentage of undertaking	27.50%
Reg office	CHN14
Colombia | LexisNexis Risk Solutions SAS | Ordinary
Related party transactions
Company name	LexisNexis Risk Solutions SAS
Percentage of undertaking	100%
Reg office	COL1
Denmark | Elsevier A/S | Ordinary
Related party transactions
Company name	Elsevier A/S
Percentage of undertaking	100%
Reg office	DNK1
Egypt | Elsevier Egypt LLC | Ordinary
Related party transactions
Company name	Elsevier Egypt LLC
Percentage of undertaking	100%
Reg office	EGY1
France | Elsevier Holding France SAS | Ordinary
Related party transactions
Company name	Elsevier Holding France SAS
Percentage of undertaking	100%
Reg office	FRA1
France | Elsevier Masson SAS | Ordinary
Related party transactions
Company name	Elsevier Masson SAS
Percentage of undertaking	100%
Reg office	FRA1
France | Fircosoft SAS | Ordinary
Related party transactions
Company name	Fircosoft SAS
Percentage of undertaking	100%
Reg office	FRA6
France | GIE EDI Data | Ordinary
Related party transactions
Company name	GIE EDI Data (83%)
Percentage of undertaking	83%
Reg office	FRA2
France | GIE Juris Data | Ordinary
Related party transactions
Company name	GIE Juris Data
Percentage of undertaking	100%
Reg office	FRA2
France | LexisNexis Business Information Solutions SA | Ordinary
Related party transactions
Company name	LexisNexis Business Information Solutions SA
Percentage of undertaking	100%
Reg office	FRA2
France | LexisNexis Business Information Solutions Holding SA | Ordinary
Related party transactions
Company name	LexisNexis Business Information Solutions Holding SA
Percentage of undertaking	100%
Reg office	FRA4
France | LexisNexis SA | Ordinary
Related party transactions
Company name	LexisNexis SA
Percentage of undertaking	100%
Reg office	FRA2
France | Reed Exhibitions ISG SARL | Ordinary
Related party transactions
Company name	Reed Exhibitions ISG SARL
Percentage of undertaking	100%
Reg office	FRA3
France | RELX France SAS | Ordinary
Related party transactions
Company name	RELX France SAS
Percentage of undertaking	100%
Reg office	FRA3
France | RELX France Services SAS | Ordinary
Related party transactions
Company name	RELX France Services SAS
Percentage of undertaking	100%
Reg office	FRA6
France | RX France SAS | Ordinary
Related party transactions
Company name	RX France SAS
Percentage of undertaking	100%
Reg office	FRA3
France | SAFI Salon Francais et Internationaux | Ordinary
Related party transactions
Company name	SAFI Salon Français et Internationaux (50%)
Percentage of undertaking	50%
Reg office	FRA5
Germany | Elsevier GmbH | Ordinary
Related party transactions
Company name	Elsevier GmbH
Percentage of undertaking	100%
Reg office	DEU2
Germany | IPlytics GmbH | Ordinary
Related party transactions
Company name	IPlytics GmbH
Percentage of undertaking	100%
Reg office	DEU6
Germany | LexisNexis GmbH | Ordinary
Related party transactions
Company name	LexisNexis GmbH
Percentage of undertaking	100%
Reg office	DEU3
Germany | PatentSight GmbH | Ordinary
Related party transactions
Company name	PatentSight GmbH
Percentage of undertaking	100%
Reg office	DEU5
Germany | RELX Deutschland GmbH | Ordinary
Related party transactions
Company name	RELX Deutschland GmbH
Percentage of undertaking	100%
Reg office	DEU1
Germany | RX Deutschland GmbH | Ordinary
Related party transactions
Company name	RX Deutschland GmbH
Percentage of undertaking	100%
Reg office	DEU7
Germany | Tschach Solutions GmbH | Ordinary
Related party transactions
Company name	Tschach Solutions GmbH
Percentage of undertaking	100%
Reg office	DEU4
Hong Kong | Ascend China Holding Limited | Ordinary
Related party transactions
Company name	Ascend China Holding Limited (deregistration in progress)
Percentage of undertaking	100%
Reg office	HNK4
Hong Kong | JC Exhibition and Promotion Limited | Ordinary
Related party transactions
Company name	JC Exhibition and Promotion Limited (65%)
Percentage of undertaking	65%
Reg office	HNK4
Hong Kong | JYLN Sager Limited | Ordinary
Related party transactions
Company name	JYLN Sager Limited
Percentage of undertaking	100%
Reg office	HNK2
Hong Kong | LNRS Data Services (China) Limited | Ordinary
Related party transactions
Company name	LNRS Data Services (China) Limited
Percentage of undertaking	100%
Reg office	HNK1
Hong Kong | Reed Exhibitions Limited | Ordinary
Related party transactions
Company name	Reed Exhibitions Limited
Percentage of undertaking	100%
Reg office	HNK4
Hong Kong | RELX (Greater China) Limited | Ordinary
Related party transactions
Company name	RELX (Greater China) Limited
Percentage of undertaking	100%
Reg office	HNK3
India | FircoSoft India Private Limited | Ordinary
Related party transactions
Company name	FircoSoft India Private Limited (liquidation in progress)
Percentage of undertaking	100%
Reg office	IND2
India | Reed Elsevier Publishing (India) Private Limited | Ordinary
Related party transactions
Company name	Reed Elsevier Publishing (India) Private Limited
Percentage of undertaking	100%
Reg office	IND1
India | Reed Manch Exhibitions Private Limited | Ordinary
Related party transactions
Company name	Reed Manch Exhibitions Private Limited
Percentage of undertaking	100%
Reg office	IND1
India | Reed Triune Exhibitions Private Limited | Ordinary
Related party transactions
Company name	Reed Triune Exhibitions Private Limited
Percentage of undertaking	100%
Reg office	IND1
India | RELX India Private Limited | Ordinary
Related party transactions
Company name	RELX India Private Limited
Percentage of undertaking	100%
Reg office	IND1
Indonesia | PT Reed Exhibitions Indonesia | Series A, Series B
Related party transactions
Company name	PT Reed Exhibitions Indonesia (70%)
Percentage of undertaking	70%
Reg office	IDN1
Indonesia | PT RELX Information Analytics Indonesia | Common
Related party transactions
Company name	PT RELX Information Analytics Indonesia
Percentage of undertaking	100%
Reg office	IDN2
Irish Republic | Elsevier (Ireland) Limited | Ordinary
Related party transactions
Company name	Elsevier (Ireland) Limited
Percentage of undertaking	100%
Reg office	IRL2
Irish Republic | LexisNexis Risk Solutions (Europe) Limited | Ordinary
Related party transactions
Company name	LexisNexis Risk Solutions (Europe) Limited
Percentage of undertaking	100%
Reg office	IRL1
Irish Republic | RELX International Finance Designated Activity Company | Ordinary
Related party transactions
Company name	RELX International Finance Designated Activity Company
Percentage of undertaking	100%
Reg office	IRL1
Israel | LexisNexis Israel Ltd | Ordinary
Related party transactions
Company name	LexisNexis Israel Ltd
Percentage of undertaking	100%
Reg office	ISR1
Italy | Elsevier SRL | Registered capital
Related party transactions
Company name	Elsevier SRL
Percentage of undertaking	100%
Reg office	ITA1
Italy | ICIS Italia SRL | Ordinary
Related party transactions
Company name	ICIS Italia SRL
Percentage of undertaking	100%
Reg office	ITA2
Italy | RX Italy SRL | Ordinary
Related party transactions
Company name	RX Italy SRL
Percentage of undertaking	100%
Reg office	ITA1

Related undertakings - Summar_2

Related undertakings - Summary of full list of related parties - Japan to United Kingdom (Details)	Dec. 31, 2024
Japan | Elsevier Japan KK | Ordinary
Related party transactions
Company name	Elsevier Japan KK
Percentage of undertaking	100%
Reg office	JPN1
Japan | LexisNexis Japan KK | Ordinary
Related party transactions
Company name	LexisNexis Japan KK
Percentage of undertaking	100%
Reg office	JPN2
Japan | RX Japan Ltd | Ordinary
Related party transactions
Company name	RX Japan Ltd
Percentage of undertaking	100%
Reg office	JPN2
Kingdom of Saudi Arabia | RX Arabia LLC | Ordinary
Related party transactions
Company name	RX Arabia LLC
Percentage of undertaking	100%
Reg office	KSA1
Korea (Republic of) | Elsevier Korea LLC | Ordinary
Related party transactions
Company name	Elsevier Korea LLC
Percentage of undertaking	100%
Reg office	KOR1
Korea (Republic of) | LexisNexis Legal and Professional Service Korea Limited | Ordinary
Related party transactions
Company name	LexisNexis Legal and Professional Service Korea Limited
Percentage of undertaking	100%
Reg office	KOR1
Korea (Republic of) | Reed Exhibitions Korea Limited | Ordinary
Related party transactions
Company name	Reed Exhibitions Korea Limited
Percentage of undertaking	100%
Reg office	KOR2
Korea (Republic of) | Reed Exporum Limited | Ordinary
Related party transactions
Company name	Reed Exporum Limited (60%)
Percentage of undertaking	60%
Reg office	KOR3
Korea (Republic of) | Reed K. Fairs Limited | Ordinary
Related party transactions
Company name	Reed K. Fairs Limited (70%)
Percentage of undertaking	70%
Reg office	KOR4
Macau | Reed Exhibitions Macau Limited | Ordinary
Related party transactions
Company name	Reed Exhibitions Macau Limited
Percentage of undertaking	100%
Reg office	MAC1
Malaysia | LexisNexis Malaysia Sdn Bhd | Ordinary
Related party transactions
Company name	LexisNexis Malaysia Sdn Bhd
Percentage of undertaking	100%
Reg office	MYS1
Mexico | Human API Technologies, S. de R.L. de C.V. | Fixed
Related party transactions
Company name	Human API Technologies, S. de R.L. de C.V.
Percentage of undertaking	100%
Reg office	MEX2
Mexico | Masson-Doyma Mexico, S.A. | Ordinary
Related party transactions
Company name	Masson-Doyma Mexico, S.A.
Percentage of undertaking	100%
Reg office	MEX1
Mexico | Reed Exhibitions Mexico S.A. de C.V. | Fixed
Related party transactions
Company name	Reed Exhibitions Mexico S.A. de C.V.
Percentage of undertaking	100%
Reg office	MEX1
Netherlands | AGRM Solutions C.V. | Partnership Interest
Related party transactions
Company name	AGRM Solutions C.V.
Percentage of undertaking	100%
Reg office	NLD1
Netherlands | Caselex B.V. | Ordinary
Related party transactions
Company name	Caselex B.V.
Percentage of undertaking	100%
Reg office	NLD1
Netherlands | Elsevier B.V. | Ordinary
Related party transactions
Company name	Elsevier B.V.
Percentage of undertaking	100%
Reg office	NLD1
Netherlands | ICIS Benchmarking Europe B.V. | Ordinary
Related party transactions
Company name	ICIS Benchmarking Europe B.V.
Percentage of undertaking	100%
Reg office	NLD1
Netherlands | LexisNexis Business Information Solutions B.V. | Ordinary
Related party transactions
Company name	LexisNexis Business Information Solutions B.V.
Percentage of undertaking	100%
Reg office	NLD1
Netherlands | LNRS Data Services B.V. | Ordinary
Related party transactions
Company name	LNRS Data Services B.V.
Percentage of undertaking	100%
Reg office	NLD1
Netherlands | Misset Uitgeverij B.V. | Ordinary
Related party transactions
Company name	Misset Uitgeverij B.V. (49%)
Percentage of undertaking	49%
Reg office	NLD2
Netherlands | RELX Employment Company B.V. | Ordinary
Related party transactions
Company name	RELX Employment Company B.V.
Percentage of undertaking	100%
Reg office	NLD1
Netherlands | RELX Finance B.V. | Ordinary
Related party transactions
Company name	RELX Finance B.V.
Percentage of undertaking	100%
Reg office	NLD1
Netherlands | RELX Holdings B.V. | Ordinary
Related party transactions
Company name	RELX Holdings B.V.
Percentage of undertaking	100%
Reg office	NLD1
Netherlands | RELX Nederland B.V. | Ordinary
Related party transactions
Company name	RELX Nederland B.V.
Percentage of undertaking	100%
Reg office	NLD1
Netherlands | RELX Overseas B.V. | Ordinary RE
Related party transactions
Company name	RELX Overseas B.V.
Percentage of undertaking	100%
Reg office	NLD1
New Zealand | LexisNexis NZ Limited | Ordinary
Related party transactions
Company name	LexisNexis NZ Limited
Percentage of undertaking	100%
Reg office	NZL1
Philippines | Reed Elsevier Shared Services (Philippines) Inc. | Common
Related party transactions
Company name	Reed Elsevier Shared Services (Philippines) Inc.
Percentage of undertaking	100%
Reg office	PHL1
Poland | AI Digital Contracts Sp. z.o.o. | Ordinary
Related party transactions
Company name	AI Digital Contracts Sp. z.o.o.
Percentage of undertaking	100%
Reg office	POL1
Poland | Elsevier Sp. z.o.o. | Ordinary
Related party transactions
Company name	Elsevier Sp. z.o.o.
Percentage of undertaking	100%
Reg office	POL2
Singapore | Elsevier (Singapore) Pte Limited | Ordinary
Related party transactions
Company name	Elsevier (Singapore) Pte Limited
Percentage of undertaking	100%
Reg office	SGP1
Singapore | LNRS Data Services Pte Limited | Ordinary
Related party transactions
Company name	LNRS Data Services Pte Limited
Percentage of undertaking	100%
Reg office	SGP1
Singapore | RE (HAPL) Pte Limited | Ordinary
Related party transactions
Company name	RE (HAPL) Pte Limited
Percentage of undertaking	100%
Reg office	SGP1
Singapore | RELX (Singapore) Pte Limited | Ordinary
Related party transactions
Company name	RELX (Singapore) Pte Limited
Percentage of undertaking	100%
Reg office	SGP2
South Africa | LexisNexis (Pty) Limited | Ordinary
Related party transactions
Company name	LexisNexis (Pty) Limited (78%)
Percentage of undertaking	78%
Reg office	ZAF1
South Africa | LexisNexis Risk Management (Pty) Limited | Ordinary
Related party transactions
Company name	LexisNexis Risk Management (Pty) Limited (78%)
Percentage of undertaking	78%
Reg office	ZAF1
South Africa | LexisNexis South Africa Shared Services (Pty) Limited | Ordinary
Related party transactions
Company name	LexisNexis South Africa Shared Services (Pty) Limited
Percentage of undertaking	100%
Reg office	ZAF1
South Africa | Reed Events Management (Pty) Limited | Ordinary
Related party transactions
Company name	Reed Events Management (Pty) Limited (90%)
Percentage of undertaking	90%
Reg office	ZAF1
South Africa | Reed Exhibitions (Pty) Limited | Ordinary
Related party transactions
Company name	Reed Exhibitions (Pty) Limited (90%)
Percentage of undertaking	90%
Reg office	ZAF1
South Africa | Reed Exhibitions Group (Pty) Limited | Ordinary
Related party transactions
Company name	Reed Exhibitions Group (Pty) Limited (90%)
Percentage of undertaking	90%
Reg office	ZAF1
South Africa | Reed Venue Management (Pty) Limited | Ordinary
Related party transactions
Company name	Reed Venue Management (Pty) Limited (90%)
Percentage of undertaking	90%
Reg office	ZAF1
South Africa | RELX (Pty) Limited | Ordinary
Related party transactions
Company name	RELX (Pty) Limited
Percentage of undertaking	100%
Reg office	ZAF1
Spain | Elsevier Espana S.L.U | Participations
Related party transactions
Company name	Elsevier Espana S.L.U
Percentage of undertaking	100%
Reg office	ESP1
Sweden | Behaviometrics AB | A, B, and C shares
Related party transactions
Company name	Behaviometrics AB
Percentage of undertaking	100%
Reg office	SWE1
Taiwan | Elsevier Taiwan LLC | Ordinary
Related party transactions
Company name	Elsevier Taiwan LLC
Percentage of undertaking	100%
Reg office	TWN1
Thailand | Reed Tradex Company Limited | Ordinary
Related party transactions
Company name	Reed Tradex Company Limited (49%)
Percentage of undertaking	49%
Reg office	THA1
Thailand | RELX Holding (Thailand) Co., Limited | Ordinary
Related party transactions
Company name	RELX Holding (Thailand) Co., Limited
Percentage of undertaking	100%
Reg office	THA2
Thailand | RELX Information Analytics (Thailand) Co., Limited | Ordinary
Related party transactions
Company name	RELX Information Analytics (Thailand) Co., Limited
Percentage of undertaking	100%
Reg office	THA3
Turkey | Elsevier STM Bilgi Hizmetleri Limited Sirketi | Ordinary
Related party transactions
Company name	Elsevier STM Bilgi Hizmetleri Limited Sirketi
Percentage of undertaking	100%
Reg office	TUR1
Turkey | Reed Tuyap Fuarcilik A.S. | A Ordinary, B Ordinary
Related party transactions
Company name	Reed Tuyap Fuarcilik A.S. (50%)
Percentage of undertaking	50%
Reg office	TUR2
United Arab Emirates | Reed Exhibitions FZ-LLC | Ordinary
Related party transactions
Company name	Reed Exhibitions FZ-LLC
Percentage of undertaking	100%
Reg office	UAE1
United Arab Emirates | RELX Middle East FZ-LLC | Ordinary
Related party transactions
Company name	RELX Middle East FZ-LLC
Percentage of undertaking	100%
Reg office	UAE2
United Kingdom | Aistemos Limited | Ordinary
Related party transactions
Company name	Aistemos Limited
Percentage of undertaking	100%
Reg office	GBR3
United Kingdom | Butterworths Limited | Ordinary
Related party transactions
Company name	Butterworths Limited
Percentage of undertaking	100%
Reg office	GBR3
United Kingdom | Cordery Compliance Limited | Ordinary
Related party transactions
Company name	Cordery Compliance Limited (71%)
Percentage of undertaking	71%
Reg office	GBR3
United Kingdom | Cordery Limited | Ordinary
Related party transactions
Company name	Cordery Limited (71%) (in dissolution)
Percentage of undertaking	71%
Reg office	GBR3
United Kingdom | Crediva Limited | Ordinary
Related party transactions
Company name	Crediva Limited
Percentage of undertaking	100%
Reg office	GBR4
United Kingdom | Elsevier Limited | Ordinary
Related party transactions
Company name	Elsevier Limited
Percentage of undertaking	100%
Reg office	GBR5
United Kingdom | Interfolio UK Limited | Ordinary
Related party transactions
Company name	Interfolio UK Limited (in dissolution)
Percentage of undertaking	100%
Reg office	GBR6
United Kingdom | LexisNexis Risk Solutions UK Limited | Ordinary
Related party transactions
Company name	LexisNexis Risk Solutions UK Limited
Percentage of undertaking	100%
Reg office	GBR4
United Kingdom | LNRS Data Services Holdings Limited | Ordinary
Related party transactions
Company name	LNRS Data Services Holdings Limited
Percentage of undertaking	100%
Reg office	GBR1
United Kingdom | LNRS Data Services Limited | Ordinary
Related party transactions
Company name	LNRS Data Services Limited
Percentage of undertaking	100%
Reg office	GBR1
United Kingdom | Mack-Brooks Exhibitions Limited | Ordinary
Related party transactions
Company name	Mack-Brooks Exhibitions Limited
Percentage of undertaking	100%
Reg office	GBR2
United Kingdom | MLex Limited | Ordinary
Related party transactions
Company name	MLex Limited
Percentage of undertaking	100%
Reg office	GBR3
United Kingdom | Offshore Europe (Management) Limited | Ordinary
Related party transactions
Company name	Offshore Europe (Management) Limited
Percentage of undertaking	100%
Reg office	GBR2
United Kingdom | Offshore Europe Partnership | Partnership Interest
Related party transactions
Company name	Offshore Europe Partnership (50%)
Percentage of undertaking	50%
Reg office	GBR2
United Kingdom | RE (HPL) Limited | Ordinary
Related party transactions
Company name	RE (HPL) Limited
Percentage of undertaking	100%
Reg office	GBR1
United Kingdom | RE (RCB) Limited | Ordinary
Related party transactions
Company name	RE (RCB) Limited
Percentage of undertaking	100%
Reg office	GBR1
United Kingdom | RE Secretaries Limited | Ordinary
Related party transactions
Company name	RE Secretaries Limited
Percentage of undertaking	100%
Reg office	GBR1
United Kingdom | RE (SOE) Limited | Ordinary
Related party transactions
Company name	RE (SOE) Limited
Percentage of undertaking	100%
Reg office	GBR2
United Kingdom | Reed Events Limited | Ordinary
Related party transactions
Company name	Reed Events Limited
Percentage of undertaking	100%
Reg office	GBR2
United Kingdom | Reed Exhibitions Limited | Ordinary
Related party transactions
Company name	Reed Exhibitions Limited
Percentage of undertaking	100%
Reg office	GBR2
United Kingdom | RELX Finance Limited | Ordinary
Related party transactions
Company name	RELX Finance Limited
Percentage of undertaking	100%
Reg office	GBR1
United Kingdom | RELX Group plc | Ordinary
Related party transactions
Company name	RELX Group plc2
Percentage of undertaking	100%
Reg office	GBR1
United Kingdom | RELX (Holdings) Limited | Ordinary
Related party transactions
Company name	RELX (Holdings) Limited
Percentage of undertaking	100%
Reg office	GBR1
United Kingdom | RELX (Investments) plc | Ordinary
Related party transactions
Company name	RELX (Investments) plc
Percentage of undertaking	100%
Reg office	GBR1
United Kingdom | Reed Nominees Limited | Ordinary
Related party transactions
Company name	Reed Nominees Limited (in dissolution)
Percentage of undertaking	100%
Reg office	GBR1
United Kingdom | RELX Overseas Holdings Limited | Ordinary
Related party transactions
Company name	RELX Overseas Holdings Limited
Percentage of undertaking	100%
Reg office	GBR1
United Kingdom | RELX (UK) Limited | Ordinary
Related party transactions
Company name	RELX (UK) Limited
Percentage of undertaking	100%
Reg office	GBR1
United Kingdom | REV GP (UK) LLP | Membership Interest
Related party transactions
Company name	REV GP (UK) LLP (50%)
Percentage of undertaking	50%
Reg office	GBR1
United Kingdom | REV Venture Partners Limited | Ordinary
Related party transactions
Company name	REV Venture Partners Limited
Percentage of undertaking	100%
Reg office	GBR1
United Kingdom | REV V LP | Partnership Interest
Related party transactions
Company name	REV V LP
Percentage of undertaking	100%
Reg office	GBR1
United Kingdom | SciBite Limited | Ordinary
Related party transactions
Company name	SciBite Limited
Percentage of undertaking	100%
Reg office	GBR6
United Kingdom | Sustainable Energy Conferences Limited | Ordinary
Related party transactions
Company name	Sustainable Energy Conferences Limited
Percentage of undertaking	100%
Reg office	GBR3
United Kingdom | Tracesmart Limited | Ordinary
Related party transactions
Company name	Tracesmart Limited
Percentage of undertaking	100%
Reg office	GBR4

Related undertakings - Summar_3

Related undertakings - Summary of full list of related parties - United States to Vietnam (Details)	Dec. 31, 2024
United States | Accuity Asset Verification Services Inc. | Common Stock
Related party transactions
Company name	Accuity Asset Verification Services Inc.
Percentage of undertaking	100%
Reg office	USA1
United States | American Textile Machinery Exhibition-International, Inc. | Common Stock
Related party transactions
Company name	American Textile Machinery Exhibition-International, Inc. (40%)
Percentage of undertaking	40%
Reg office	USA2
United States | Aries Systems Corporation | Common Stock
Related party transactions
Company name	Aries Systems Corporation
Percentage of undertaking	100%
Reg office	USA2
United States | Dunlap-Hanna Publishers | Partnership Interest
Related party transactions
Company name	Dunlap-Hanna Publishers (50%)
Percentage of undertaking	50%
Reg office	USA2
United States | Elsevier Holdings Inc. | Common Stock
Related party transactions
Company name	Elsevier Holdings Inc.
Percentage of undertaking	100%
Reg office	USA3
United States | Elsevier Inc. | Common Stock
Related party transactions
Company name	Elsevier Inc.
Percentage of undertaking	100%
Reg office	USA2
United States | Elsevier STM Inc. | Common Stock
Related party transactions
Company name	Elsevier STM Inc.
Percentage of undertaking	100%
Reg office	USA3
United States | Enclarity, Inc. | Common Stock
Related party transactions
Company name	Enclarity, Inc.
Percentage of undertaking	100%
Reg office	USA1
United States | Gaming Business Asia, LLC | Membership Interest
Related party transactions
Company name	Gaming Business Asia, LLC (50%)
Percentage of undertaking	50%
Reg office	USA2
United States | Health Market Science, Inc. | Common Stock
Related party transactions
Company name	Health Market Science, Inc.
Percentage of undertaking	100%
Reg office	USA1
United States | HumanAPI Inc. | Common Stock
Related party transactions
Company name	HumanAPI Inc.
Percentage of undertaking	100%
Reg office	USA1
United States | ID Analytics, LLC | Membership Interest
Related party transactions
Company name	ID Analytics, LLC
Percentage of undertaking	100%
Reg office	USA1
United States | Jarvis Software LLC | Membership Interest
Related party transactions
Company name	Jarvis Software LLC
Percentage of undertaking	100%
Reg office	USA2
United States | Knovel Corporation | Common Stock
Related party transactions
Company name	Knovel Corporation
Percentage of undertaking	100%
Reg office	USA2
United States | Knowable Inc | Common Stock
Related party transactions
Company name	Knowable Inc
Percentage of undertaking	100%
Reg office	USA2
United States | Legal InQuery Solutions Inc. | Common Stock
Related party transactions
Company name	Legal InQuery Solutions Inc.
Percentage of undertaking	100%
Reg office	USA5
United States | LexisNexis Claims Solutions Inc. | Common Stock
Related party transactions
Company name	LexisNexis Claims Solutions Inc.
Percentage of undertaking	100%
Reg office	USA1
United States | LexisNexis Coplogic Solutions Inc. | Common Stock
Related party transactions
Company name	LexisNexis Coplogic Solutions Inc.
Percentage of undertaking	100%
Reg office	USA1
United States | LexisNexis of Puerto Rico, Inc. | Common Stock
Related party transactions
Company name	LexisNexis of Puerto Rico, Inc.
Percentage of undertaking	100%
Reg office	USA7
United States | LexisNexis Risk Data Management, LLC | Membership Interest
Related party transactions
Company name	LexisNexis Risk Data Management, LLC
Percentage of undertaking	100%
Reg office	USA1
United States | LexisNexis Risk Holdings Inc. | Common Stock
Related party transactions
Company name	LexisNexis Risk Holdings Inc.
Percentage of undertaking	100%
Reg office	USA1
United States | LexisNexis Risk Solutions Inc. | Common Stock
Related party transactions
Company name	LexisNexis Risk Solutions Inc.
Percentage of undertaking	100%
Reg office	USA1
United States | LexisNexis Risk Solutions FL Inc. | Common Stock
Related party transactions
Company name	LexisNexis Risk Solutions FL Inc.
Percentage of undertaking	100%
Reg office	USA1
United States | LexisNexis Special Services Inc. | Common Stock
Related party transactions
Company name	LexisNexis Special Services Inc.
Percentage of undertaking	100%
Reg office	USA4
United States | LexisNexis VitalChek Network Inc. | Common Stock
Related party transactions
Company name	LexisNexis VitalChek Network Inc.
Percentage of undertaking	100%
Reg office	USA1
United States | LNRS Data Services Inc. | Common Stock
Related party transactions
Company name	LNRS Data Services Inc.
Percentage of undertaking	100%
Reg office	USA1
United States | Matthew Bender & Company, Inc. | Common Stock
Related party transactions
Company name	Matthew Bender & Company, Inc.
Percentage of undertaking	100%
Reg office	USA2
United States | MLex US, Inc. | Common Stock
Related party transactions
Company name	MLex US, Inc.
Percentage of undertaking	100%
Reg office	USA2
United States | PCLaw Time Matters LLC | Membership Interest
Related party transactions
Company name	PCLaw Time Matters LLC (51%)
Percentage of undertaking	51%
Reg office	USA8
United States | Portfolio Media, Inc. | Common Stock
Related party transactions
Company name	Portfolio Media, Inc.
Percentage of undertaking	100%
Reg office	USA2
United States | Reed Technology and Information Services LLC | Membership Interest
Related party transactions
Company name	Reed Technology and Information Services LLC
Percentage of undertaking	100%
Reg office	USA2
United States | RELX Capital Inc. | Common Stock
Related party transactions
Company name	RELX Capital Inc.
Percentage of undertaking	100%
Reg office	USA3
United States | RELX Inc. | Common Stock
Related party transactions
Company name	RELX Inc.
Percentage of undertaking	100%
Reg office	USA2
United States | RELX Risks Inc. | Common Stock
Related party transactions
Company name	RELX Risks Inc.
Percentage of undertaking	100%
Reg office	USA6
United States | REV IV Partnership LP | Partnership Interest
Related party transactions
Company name	REV IV Partnership LP
Percentage of undertaking	100%
Reg office	USA3
United States | SAFI Americas LLC | Membership Interest
Related party transactions
Company name	SAFI Americas LLC (50%)
Percentage of undertaking	50%
Reg office	USA2
United States | SageStream, LLC | Membership Interest
Related party transactions
Company name	SageStream, LLC
Percentage of undertaking	100%
Reg office	USA1
United States | The Reed Elsevier Ventures 2011 Partnership LP | Partnership Interest
Related party transactions
Company name	The Reed Elsevier Ventures 2011 Partnership LP
Percentage of undertaking	100%
Reg office	USA3
United States | The Reed Elsevier Ventures 2013 Partnership LP | Partnership Interest
Related party transactions
Company name	The Reed Elsevier Ventures 2013 Partnership LP
Percentage of undertaking	100%
Reg office	USA3
United States | The Remick Publishers | Partnership Interest
Related party transactions
Company name	The Remick Publishers (50%)
Percentage of undertaking	50%
Reg office	USA2
United States | ThreatMetrix, Inc. | Common Stock
Related party transactions
Company name	ThreatMetrix, Inc.
Percentage of undertaking	100%
Reg office	USA1
United States | World Compliance, Inc. | Common Stock
Related party transactions
Company name	World Compliance, Inc.
Percentage of undertaking	100%
Reg office	USA1
Vietnam | Reed Tradex Vietnam LLC | Ordinary
Related party transactions
Company name	Reed Tradex Vietnam LLC
Percentage of undertaking	100%
Reg office	VIE1

5 year summary (Details)

5 year summary (Details) - GBP (£) £ / shares in Units, £ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
5 year summary
Underlying revenue growth	7%	8%	9%	7%	(9.00%)
Underlying adjusted operating profit growth	10%	13%	15%	13%	(18.00%)
Adjusted earnings per share growth (at constant currency)	9%	11%	10%	17%	(15.00%)
Adjusted revenue	£ 9,434	£ 9,161	£ 8,553	£ 7,244	£ 7,110
Adjusted EBITDA	3,724	3,544	3,174	2,697	2,567
Adjusted operating profit	£ 3,199	£ 3,030	£ 2,683	£ 2,210	£ 2,076
Adjusted operating margin	33.90%	33.10%	31.40%	30.50%	29.20%
Adjusted profit before tax	£ 2,903	£ 2,716	£ 2,489	£ 2,077	£ 1,916
Adjusted net profit attributable to shareholders, basic	£ 2,241	£ 2,156	£ 1,961	£ 1,689	£ 1,543
Adjusted net margin	23.80%	23.50%	22.90%	23.30%	21.70%
Adjusted cash flow	£ 3,101	£ 2,962	£ 2,709	£ 2,230	£ 2,009
Adjusted cash flow conversion	97%	98%	101%	101%	97%
Adjusted return on invested capital	14.80%	14%	12.50%	11.90%	10.80%
Adjusted earnings per ordinary share	£ 1.201	£ 1.140	£ 1.022	£ 0.876	£ 0.801
Ordinary dividend per share	£ 0.630	£ 0.588	£ 0.546	£ 0.498	£ 0.470
Revenue	£ 9,434	£ 9,161	£ 8,553	£ 7,244	£ 7,110
Reported operating profit	2,861	2,682	2,323	1,884	1,525
Reported profit before tax	2,557	2,295	2,113	1,797	1,483
Reported net profit attributable to shareholders	£ 1,934	£ 1,781	£ 1,634	£ 1,471	£ 1,224
Reported net margin	20.50%	19.40%	19.10%	20.30%	17.20%
Reported net debt	£ 6,563	£ 6,446	£ 6,604	£ 6,017	£ 6,898
Reported earnings per ordinary share	£ 1.036	£ 0.941	£ 0.852	£ 0.763	£ 0.635