RELX: RX reports positive operating result

RX reports positive operating result

Photo: Edward Howell on Unsplash

RX, formerly Reed Exhibitions, has seen an underlying revenue growth of +44% in fiscal year 2021 compared to 2020, parent company RELX reports in its annual statement. This growth was driven by a gradual reopening of exhibition venues across geographies where the organiser is active.

The revenue for the year ended December 31, 2021 came in at £534m, up from £362m in 2020, and an adjusted operating profit of £10m, equalling an adjusted operating margin of 1.9%. "The return to a positive adjusted operating result reflects the increased activity levels and a lower cost structure", the report states.
„We expect a year of strong underlying revenue growth.“
RELX, parent company of RX
"In 2021, we managed our event schedule flexibly, responding to changes in local government policies, enabling us to hold a total of 269 face‐to‐face events during the year. We continued to make good progress on digital initiatives, with a range of digital tools supporting our physical events, and digital revenues growing strongly", the company said. In 2021, the cash outflow relating to exhibitions' exceptional costs charged in 2020 was £52m (2020: £51m).

The 2022 outlook: "We expect a year of strong underlying revenue growth. The operating result will continue to benefit from the structurally lower cost base."