2025
Annual Report
Annual Report 2025
Forward-looking statements
This Annual Report contains forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US
Securities Exchange Act of 1934, as amended. These statements are subject to risks and uncertainties that could cause actual results or outcomes of RELX PLC
(together with its subsidiaries, “RELX”, “we” or “our”) to differ materially from those expressed in any forward-looking statement. We consider any statements that
are not historical facts to be “forward-looking statements”. The terms “outlook”, “estimate”, “forecast”, “project”, “plan”, “intend”, “expect”, “should”, “could”, “will”,
“believe”, “trends” and similar expressions may indicate a forward-looking statement. Important factors that could cause actual results or outcomes to differ
materially from estimates or forecasts contained in the forward-looking statements include, among others: regulatory and other changes regarding the collection or
use of personal data; changes in law and legal interpretation affecting our intellectual property rights and internet communications; current and future geopolitical,
economic and market conditions; research integrity issues or changes in the payment model for our scientific, technical and medical research products; competitive
factors in the industries in which we operate and demand for our products and services; our inability to realise the future anticipated benefits of acquisitions;
compromises of our cybersecurity systems or other unauthorised access to our databases; changes in economic cycles, trading relations, communicable disease
epidemics or pandemics, severe weather events, natural disasters and terrorism; failure of third parties to whom we have outsourced business activities; significant
failure or interruption of our systems; our inability to retain high-quality employees and management; changes in tax laws and uncertainty in their application;
exchange rate fluctuations; adverse market conditions or downgrades to the credit ratings of our debt; changes in the market values of defined benefit pension
scheme assets and in the market related assumptions used to value scheme liabilities; breaches of generally accepted ethical business standards or applicable laws;
and other risks referenced from time to time in the filings of RELX PLC with the US Securities and Exchange Commission. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this Annual Report. Except as may be required by law, we undertake no obligation to publicly update or
release any revisions to these forward-looking statements to reflect events or circumstances after the date of this Annual Report or to reflect the occurrence of
unanticipated events.
About us
is a global provider of information-based
analytics and decision tools for professional and business
customers, enabling them to make better decisions,
get better results and be more productive.
Our purpose is to benefit society by developing products
that help researchers advance scientific knowledge;
doctors and nurses improve the lives of patients; lawyers
promote the rule of law and achieve justice and fair results
for their clients; businesses and governments prevent
fraud; consumers access financial services and get fair
prices on insurance; and customers learn about markets
Our purpose guides our actions beyond the products that
we develop. It defines us as a company. Every day across
RELX our employees are inspired to undertake initiatives
that make unique contributions to society and the
communities in which we operate.
1
RELX
Annual Report 2025
Contents
Strategic report
Overview
2
2025 highlights
3
Chair’s statement
4
Chief Executive Officer’s report
5
RELX business overview
Market segments
10
Risk
16
Scientific, Technical & Medical
22
Legal
28
Exhibitions
Corporate responsibility
34
Corporate responsibility overview
38
Our unique contributions
42
Corporate responsibility governance
46
Customers
49
People
52
Community
56
Supply chain
59
Environment
Financial review
66
Chief Financial Officer’s report
72
Principal and emerging risks
Governance
Governance
80
Board directors
82
RELX senior executives
84
Chair’s introduction to corporate governance
85
Corporate governance review
97
Report of the Nominations Committee
100 Directors’ remuneration report
121
Report of the Audit Committee
125 Directors’ report
Financial statements
and other information
Financial statements
130 Independent auditor’s report
138 Consolidated financial statements
143
Notes to the consolidated financial statements
186 Five year summary
RELX PLC company only financial statements
188
RELX PLC financial statements
191
Notes to RELX PLC financial statements
Other financial information
196
Financial summary in US dollars
197
Business area analysis in US dollars
198
Alternative performance measures
Sustainability Statement and other
Corporate Responsibility Disclosures
208 Sustainability statement
232 Independent assurance report
235
Taskforce on climate-related financial disclosure
241
Sustainability accounting standards board
242 Global reporting initiative
Shareholder information
245 Shareholder information
248 2026 financial calendar
To download the full Annual Report and for
further information about our company visit
relx.com
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
2
RELX
Annual Report 2025 | Overview
2025 highlights
RELX financial highlights
§
Revenue £9,590m (£9,434m), underlying growth +7%
§
Adjusted operating profit £3,342m (£3,199m), underlying growth +9%
§
Adjusted EPS 128.5p (120.1p), constant currency growth +10%
§
Reported operating profit £3,027m (£2,861m)
§
Reported EPS 112.6p (103.6p)
§
Proposed full-year dividend 67.5p (63.0p)
§
Net debt/EBITDA 2.0x; adjusted cash flow conversion 99%
§
Completed five acquisitions for a total consideration of £270m
§
Completed £1,500m share buyback
Prior year comparatives are represented in brackets.
RELX financial summary
ADJUSTED FIGURES
2024
GBPm
2025
GBPm
Change
in GBP
Change at
constant
currency
Underlying
growth
For the year ended 31 December
Revenue
9,434
9,590
+2%
+4%
+7%
EBITDA
3,724
3,846
Operating profit
3,199
3,342
+4%
+7%
+9%
Operating margin
33.9%
34.8%
Net interest expense
(296)
(283)
Profit before tax
2,903
3,059
Tax charge
(652)
(688)
Net profit attributable to shareholders
2,241
2,358
Cash flow
3,101
3,301
Cash flow conversion
97%
99%
Return on invested capital
14.8%
15.4%
Earnings per share
120.1p
128.5p
+7%
+10%
DIVIDEND
2024
2025
Change
in GBP
For the year ended 31 December
Ordinary dividend per share
63.0p
67.5p
+7%
REPORTED FIGURES
2024
GBPm
2025
GBPm
Change
in GBP
For the year ended 31 December
Revenue
9,434
9,590
+2%
Operating profit
2,861
3,027
+6%
Net interest expense
(298)
(286)
Profit before tax
2,557
2,750
Tax charge
(613)
(672)
Net profit attributable to shareholders
1,934
2,065
Net margin
20.5%
21.5%
Cash generated from operations
3,521
3,735
Net debt
6,563
7,201
Earnings per share
103.6p
112.6p
+9%
RELX corporate responsibility summary
REPORTED FIGURES
2024
2025
Change
For the year ended 31 December
Percentage of women managers
46%
46%
Percentage of employees volunteering
37%
38%
Number of supplier code signatories
6,056
6,586
+9%
Scope 1 + Scope 2 (location-based) emissions (tCO
2
e)
32,692
21,466
-34%
Waste sent to landfill (t)
44
32
-27%
RELX uses adjusted and underlying figures as additional performance measures. Adjusted figures primarily exclude the amortisation of acquired intangible assets and other
items related to acquisitions and disposals, and the associated deferred tax movements. Reconciliations between the reported and adjusted figures are set out on pages 198 to
206. Underlying revenue growth rates are calculated at constant currency, and exclude revenue from acquisitions until 12 months after purchase, revenue of disposals and
assets held for sale, print and print-related revenue and exhibition cycling. Constant currency growth rates are based on 2024 full-year average and hedge exchange rates.
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’.
RELX
Annual Report 2025
3
Chair’s statement
RELX has continued to execute our
strategy in 2025, which was reflected
in our strong operational and financial
performance.
Paul Walker, Chair
RELX has continued to execute our strategy in 2025, which was
reflected in our strong operational and financial performance.
All business areas performed well producing underlying revenue
growth of 7%, and underlying adjusted operating profit growth of
9%. Adjusted earnings per share grew 10% at constant currency to
128.5p (120.1p). Reported earnings per share were 112.6p (103.6p).
During the past few months, we have seen share price volatility
across a number of sectors, including software and data services.
Against that backdrop, I remain confident in our ability to continue
to leverage new technologies, deliver enhanced value to
customers and execute our strategy over the long term.
Culture and Employee Engagement
Critical to the success of RELX is its corporate culture. The company
places significant emphasis on how we do business and how we
act with integrity in line with the highest ethical standards. Our
commitment is set out in our statement on purpose, strategy,
values and culture on page 88 of this report and we strive to ensure
decisions taken are aligned with RELX’s values. In addition, the
Board draws insights about culture and employee engagement
from a range of sources including annual employee opinion surveys
and the activities of our dedicated Non-Executive Director
responsible for employee engagement. This facilitates a direct link
to the Board and allows it to further understand and consider the
views of employees. In the 2025 company-wide employee opinion
survey, employee net promoter scores reached record levels as did
employee engagement.
Dividends
In recognition of our strong performance and outlook for the
company we are proposing a 7% increase in the full-year dividend
to 67.5p (63.0p).
Balance sheet
Net debt at 31 December 2025 was £7.2bn (£6.6bn). Net debt/
EBITDA was 2.0x compared with 1.8x in 2024. Capital expenditure
represented 5% of revenues.
Share buybacks
We deployed £1,500m on share buybacks in 2025. In recognition
of our strong financial position and cash flow we intend to deploy
a total of £2,250m on share buybacks in 2026, of which £250m has
already been completed.
The Board
At the 2025 Annual General Meeting (AGM), Robert MacLeod, who
had been on the Board since 2016, retired and Andy Halford was
appointed a Non-Executive Director. Andy is former Chief Financial
Officer at Vodafone, the telecoms group, and Standard Chartered,
the global bank. He also sat as a Non-Executive Director at Marks
and Spencer, the retailer. Alistair Cox succeeded Robert as Chair of
the Remuneration Committee at the conclusion of the AGM. I would
like to thank Robert for the valuable service he has given RELX.
I am delighted to welcome Andy to the Board.
Remuneration Policy
Following an in-depth review, the Board is presenting an updated
Directors’ Remuneration Policy for shareholder consideration.
Governance
Effective governance, and the policies and practices that support it,
are fundamental to RELX’s culture of acting with integrity in all that
we do, and it supports the company’s purpose to benefit society
through its unique contributions. The Board believes that attaining
the highest levels of corporate responsibility helps enable
excellent financial performance. We believe that pursuing both
goals in tandem will result in long-term sustainable shareholder
value creation and will also provide our stakeholders with
confidence that the governance of RELX is appropriate for its size
and profile as a listed company. It also helps manage risks and
opportunities, and ensures that key stakeholders are appropriately
considered in decisions that we make.
We performed well on our corporate responsibility priorities in 2025,
on our unique contributions to society, and on our key metrics. Our
performance was again recognised by external agencies: RELX
achieved a AAA MSCI rating for a tenth consecutive year, ranked in
the top 1% of over 14,700 companies globally by Sustainalytics, and
was included in the S&P Global Sustainability Yearbook.
On behalf of the Board, I would like to thank RELX employees for
their many achievements throughout 2025.
Paul Walker
Chair
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
4
RELX
Annual Report 2025 | Overview
Chief Executive Officer’s report
RELX delivered strong underlying revenue
and profit growth and strong new sales in
2025. Our improving long-term growth
trajectory continues to be driven by the
ongoing shift in business mix towards higher
growth analytics and decision tools that
deliver enhanced value to our customers.
Erik Engstrom, Chief Executive Officer
2025 progress
RELX delivered strong underlying revenue and profit growth and
strong new sales in 2025: continued strong growth in Risk; good
growth with improving momentum in Scientific, Technical &
Medical; a further step up in growth in Legal; and strong ongoing
growth in Exhibitions.
Our improving long-term growth trajectory continues to be driven
by the ongoing shift in business mix towards higher growth
analytics and decision tools that deliver enhanced value to our
customers. We develop these products by leveraging deep
customer understanding to combine our unique content and
comprehensive data sets with advanced technologies.
The continued evolution of artificial intelligence is enabling us to
add more value to our customers, as we embed additional
functionality in our products, and to develop and launch products
at a faster pace, while continuing to manage cost growth below
revenue growth. This evolution has been a key driver of our
business for well over a decade, and will remain a key driver of
customer value and growth in our business for many years to
come.
During the year, we made further operational and strategic
progress. Underlying revenue growth was 7%. Our strategy of
driving continuous process innovation to manage cost growth
below revenue growth led to underlying adjusted operating profit
growth of 9% and an improvement in the group adjusted operating
margin to 34.8% compared with 33.9% in 2024.
Corporate responsibility
We performed well on our corporate responsibility priorities in
2025 and on our key metrics. Our performance was again
recognised by external agencies.
We continued to make progress on our unique contributions which
make a positive impact on society through our products and
services and through the conduct of our business. We also
remained focused on improving our environmental performance
year-on-year. Detailed results are available on pages 59 to 63 of
this report.
2026 Outlook
We continue to see positive momentum across the group, and we
expect another year of strong underlying growth in revenue and
adjusted operating profit, as well as strong growth in adjusted
earnings per share on a constant currency basis.
Erik Engstrom
Chief Executive Officer
Strategy
Outcomes
Cost growth objective
Revenue growth objectives
5
Format
Geography
Type
Face-to-face
12%
Electronic
84%
Rest of world
21%
Europe
21%
North America
58%
Transactional*
46%
Subscription
54%
Print & print-related
RELX
Annual Report 2025
RELX business overview
RELX strategy
Our number one strategic priority is the organic development of increasingly sophisticated information-based analytics and decision tools that
deliver enhanced value to professional and business customers. We do this by leveraging deep customer understanding to build innovative
solutions which combine leading content and data sets with advanced technologies. We aim to achieve leading positions in long-term global growth
markets and leverage our skills, assets and resources across RELX, both to build solutions for our customers and to pursue cost efficiencies. We
continue to transform our core business, building out new products, and expanding into higher growth adjacencies and geographies.
We are supplementing this organic development with selective acquisitions of targeted data sets and analytics, and assets in high-growth markets
that support our organic growth strategies and are natural additions to our existing business.
Our improving long-term growth trajectory continues to be driven by the ongoing shift in business mix towards higher growth, technology-enabled
analytics and decision tools that deliver enhanced value to our customers for an increasing number of use cases. When combined with continuous
process innovation to improve organisational agility and to manage cost growth below revenue growth, the result is continued strong earnings
growth with improving returns.
RELX business model
RELX is a global provider of information-based analytics and decision tools for professional and business customers.
These products are generally sold through dedicated sales forces direct to customers and are priced on a subscription or transactional
basis, often under multi-year contracts.
Our products often account for less than 1% of our customers’ total cost base but can have a significant and positive impact on the
economics of the remaining 99%. Our objective is to continue to enhance the value that we deliver to our customers and over time to grow
our own total cost base below our rate of revenue growth on an underlying basis.
Exhibitions
§
Sustain strong long-
term growth profile
2025 Revenue £9,590m
* Includes long-term contracts with volumetric elements
Risk
§
Sustain strong long-
term growth profile
Scientific, Technical & Medical
§
Continue on improving
growth trajectory
Legal
§
Continue on improving
growth trajectory
§
Underlying cost growth below underlying revenue growth
Better customer outcomes
|
Higher growth profile
|
Strong earnings growth
|
Improving returns
|
Positive impact on society
§
Develop increasingly sophisticated information-based analytics and decision tools that deliver enhanced value
to professional and business customers across market segments
§
Primary focus on organic growth, supported by targeted acquisitions
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
6
RELX
Annual Report 2025 | Overview
Print
Print & print-related
Face-to-face
Electronic
2001
2000
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2018
2017
22%
22%
28%
30%
32%
35%
37%
48%
50%
59%
61%
63%
64%
66%
66%
70%
74%
74%
14%
14%
12%
12%
12%
13%
12%
15%
17%
14%
14%
15%
15%
15%
16%
15%
15%
64%
64%
60%
58%
56%
52%
51%
37%
33%
27%
25%
22%
21%
19%
18%
15%
11%
16%
10%
2021
2022
2024
2023
2025
2020
2019
75%
16%
9%
86%
7%
7%
83%
12%
5%
83%
13%
4%
83%
11%
6%
87%
5%
8%
72%
15%
13%
84%
12%
2025
2022
2023
2024
2021
2025
2022
2023
2024
2021
2025
2022
2023
2024
2021
50
3,670
Percentage of women managers
Total number of supplier code of conduct signatories
Scope 1 + Scope 2 (location-based) emissions (tCO
2
e 1,000s)
42
44%
44%
45%
46%
46%
6,056
6,586
33
21
4,467
5,322
41
People
Socially responsible suppliers
Emissions
2025
2021
2023
2024
2022
+7%
Percentages represent underlying growth
£bn
10
0
+9%
+8%
+7%
+7%
+10%
+9%
39.5%
40.1%
Revenue
+13%
Percentages represent underlying growth
£bn
10
0
+15%
+13%
Adjusted operating profit
11.9%
12.5%
14.0%
Return on invested capital
101%
101%
98%
97%
99%
14.8%
15.4%
+7%
+7%
+9%
+10%
Adjusted cash flow conversion
Percentages represent constant
currency growth
Pence
140
0
+17%
+10%
+11%
Adjusted earnings per share
+6%
Percentages represent growth
Pence
140
0
+10%
+8%
Dividend per share
37.2%
37.1%
38.7%
EBITDA margin
30.5%
31.4%
33.1%
33.9%
34.8%
Adjusted operating margin
2025
2021
2023
2024
2022
2025
2021
2023
2024
2022
2025
2021
2023
2024
2022
2025
2021
2023
2024
2022
2025
2021
2023
2024
2022
2025
2021
2023
2024
2022
2025
2021
2023
2024
2022
Financial KPIs
Corporate responsibility KPIs
Revenue by format
Key performance indicators
RELX’s key performance indicators (KPIs) track progress against long-term priorities. At the group level, given the diverse nature of our
end markets, we look at the continued migration of the business towards higher value-add, technology-enabled analytics, decision tools
and workflow solutions, group level financial metrics, and corporate responsibility and sustainability metrics. In addition, we track KPIs
within each market segment, at the product level, relevant to the performance of the specific business areas. Group financial and
corporate responsibility KPIs are set out below.
▪
Human oversight
▪
Traceability, citations and
source document linking
▪
Feedback loops for
continuous model
refinement
Large unlabelled
dataset
Refined labelled
dataset and
Knowledge Graphs
Authoritative Content Grounding
Generation, Expert Oversight and Validation
Trusted Customer Solutions
▪
Linking approaches
with high precision
and recall
▪
Multi-model approach
▪
Model fine tuning for
specific use cases
▪
Guardrails to enforce
RELX Responsible
AI Principles
User specific
workflows
Tailored
Insights
Personalised
Analyses
Draft documents
Trust and
transparency
indicators
Compliance with
global regulations
Increasing Relevance, Accuracy, Authority, Comprehensiveness, Appropriateness
Decreasing hallucination, irrelevant content, non-attributable content (lack of citations)
7
RELX
Annual Report 2025 | RELX business overview
Harnessing technology across RELX
§
Public records
§
Contributory
§
Digital
identities
§
Machine
generated
§
Licensed
§
Proprietary
Data
Sources
ADDING VALUE WITH GENERATIVE AI
More than 12,000 technologists, over half of whom are software engineers, work at RELX. Annually, the company spends $2bn
on technology. The combination of our rich data sets, technology infrastructure and knowledge of how to use next generation
innovation allow us to create effective solutions for our customers.
Machine
to machine
Machine
to human
Real-time
API services
Batch
services
Profile & Clean
Standardise
Relate &
Analyse
Decreasing content volume
Increasing content quality
Data
Sources
Delivery
method
§
Public records
§
Contributory
§
Digital identities
§
Machine
generated
§
Licensed
§
Proprietary
ADDING VALUE WITH EXTRACTIVE AI
The company has more than 15 years’ experience with big data and extractive, machine to machine, artificial intelligence (AI),
particularly in our Risk segment. The combination of this technology with our rich data sets and deep customer understanding has
allowed us to consistently create higher value-added analytics and decisions tools for our customers.
§
High-quality data from a wide array
of sources in multiple formats
§
Over 130bn transactions analysed
annually
§
More than 105m scientific
publication records
§
More than 207bn legal and news
documents and records
§
Grid computing with low-cost servers
§
Linking algorithms that generate high precision and recall
§
Machine learning algorithms to cluster, link and learn from
the data
§
High speed data ingestion, recall, and processing
§
Rapid development cycles
§
Platforms to facilitate AI/ML
§
Proprietary
algorithms
§
Predictive modelling
§
Machine learning and
artificial intelligence
§
Modular
product suites
§
Flexible delivery
platforms
Unstructured and structured content
Big data platforms
Analysis
applications
Customer single
point of execution
For the past few years, we have been deploying generative AI, particularly in our Legal and STM segments. RELX Generative AI
solutions are built upon multiple fine-tuned Large Language Models leveraging high-quality, trusted content and extensive data
sets, advanced linking and context engineering capabilities, deep customer understanding, and industry expertise to improve
answer quality and enable relevant, accurate, and personalised insights, analysis and workflows. This allows customers to make
important decisions with confidence. Our Generative AI solutions are designed with privacy in mind and incorporate RELX’s
Responsible AI Principles.
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
8
RELX
Annual Report 2025 | Overview
Business Services
Insurance
Specialised Industry Data Services
Government
Academic & Government
Primary Research
Corporate Primary Research
Databases, Tools and Electronic Reference
Law Firms &
Corporate Legal
Government &
Academic and
News & Business
Exhibitions
13%
Risk
36%
Legal
19%
STM
28%
Print and print-related
Market segments
RELX is a global provider of information-based analytics and decision tools for professional and business customers. RELX serves
customers in more than 180 countries and territories and has offices in about 40 countries. It employs more than 37,000 people,
around 40% of whom are in North America.
RELX revenue by segment
Financial summary by market segment
Market
position
2025
revenue
GBPm
Underlying
growth
2025
adjusted
operating
profit
GBPm
Underlying
growth
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
Key verticals #1
3,485
+8%
1,305
+10%
Scientific, Technical & Medical
helps advance science and
healthcare by combining high-quality, trusted scientific and
medical information and data sets with innovative technologies
to deliver critical insights that support better outcomes
Global #1
2,714
+5%
1,035
+7%
Legal
helps its customers improve decision-making, achieve
better outcomes and increase productivity by providing tools
that combine legal, regulatory and business information with
powerful analytics
US #2
Outside US #1
or #2
1,806
+9%
415
+12%
Exhibitions
combines industry expertise, digital tools, and data
to help customers connect in-person and online, discover new
markets, source products, generate leads, and transact
Global #2
1,186
+8%
410
+9%
RELX uses adjusted and underlying figures as additional performance measures. Adjusted figures primarily exclude the amortisation of acquired intangible assets and other
items related to acquisitions and disposals, and the associated deferred tax movements. Reconciliations between the reported and adjusted figures are set out on pages 198
to 206. Underlying revenue growth rates are calculated at constant currency, and exclude revenue from acquisitions until 12 months after purchase, revenue of disposals and
assets held for sale, print and print-related revenue and exhibition cycling. Constant currency growth rates are based on 2024 full-year average and hedge exchange rates.
Remaining print and print-related activities are now reported separately from the four business areas. Also, a small commercial healthcare product portfolio, previously in
Scientific, Technical & Medical, is now reported in Risk. Changes to business area reporting, and the associated restatement of 2024 figures, are explained on pages 144 to 145.
9
RELX
Annual Report 2025
Market
segments
In this section
10
Risk
16
Scientific, Technical & Medical
22
Legal
28
Exhibitions
Market segments
Overview
Corporate responsibility
Financial review
Governance
Financial statements
and other information
10
RELX
Annual Report 2025 | Market segments
Business overview
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.
LexisNexis Risk Solutions, headquartered in Alpharetta, Georgia,
has principal operations in California, Florida, Illinois, New York
and Ohio in North America as well as London and Paris in Europe,
Mumbai and Chennai in India and Laguna and Dumaguete in the
Philippines. It has 11,800 employees and serves customers in
more than 190 countries and territories.
Revenues for the year ended 31 December 2025 were £3,485m,
compared with £3,336m in 2024 and £3,224m in 2023. In 2025,
79% of revenue came from North America, 13% from Europe
and the remaining 8% from the rest of the world. Subscription
revenue represented 39% of the total and transactional revenues,
including long-term contracts with volumetric elements,
represented 61%.
LexisNexis Risk Solutions comprises the following market-facing
industry/sector verticals: Business Services, Insurance, Healthcare,
Specialised Industry Data Services, and Government Solutions.
Business Services
, representing over 40% of revenue, enables
global financial transparency and inclusion by providing holistic
and actionable insights for all risk and compliance segments.
We help customers address some of society’s greatest
challenges, including identifying fraud, cybercrime, bribery,
corruption, global terrorism, trafficking and abusive practices.
The combination of our proprietary insights and advanced
analytics powered by extractive Artificial Intelligence (AI) delivers
actionable intelligence to customers to help improve decisions
and operational efficiency.
The cornerstone of our growth strategy is maximising customer
value across our current markets and through international
expansion.
In 2025, Business Services solidified its position as a platform
provider with industry analyst recognition for both its Dynamic
Decision Platform and RiskNarrative platform. Across solutions,
we were recognised as leaders in 29 industry analyst reports
including: Juniper Research’s Digital ID & Verification in the UK
Market, Everest Group’s Leading 50™ Financial Crime and
Compliance Technology Providers, Burton-Taylor’s Anti-Money
Laundering/Know-Your-Customer Data and Services, and
KuppingerCole’s Leadership Compass reports for Fraud
Reduction Intelligence Platforms in both finance and ecommerce.
In Q1 2025, LexisNexis Risk Solutions closed the acquisition
of IDVerse, a provider of AI-powered automated document
authentication and fraud detection solutions. In Q3 2025, we
launched an updated version that delivers an optimised user
experience. We also launched Fraud Intelligence for Business
score to mitigate fraud losses at account opening and evaluate
fraud risks for small and medium-sized business lenders. We
introduced geofencing to detect VPNs and proxies, helping US
gaming and gambling operators confirm devices comply with
state-specific regulations.
We updated our US consumer content and linking infrastructure
to improve coverage for younger consumers and those new to the
country. This initiative will enable our customers to better serve
these consumer segments and foster a more inclusive economy.
We help customers make better
decisions and manage risk. We help
detect and prevent fraud and money
laundering and deliver insights to
insurance companies. Our digital tools
help industries from aviation to
banking improve their operations.
Risk
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Annual Report 2025 | Risk
Insurance,
representing around 40% of revenue, provides
comprehensive data, analytics and decision tools for personal
auto and home, commercial and life insurance carriers to improve
critical aspects of their business. Information solutions help
insurers assess risks; improve customer acquisition, experience
and retention; identify and intercept fraud; increase efficiency in
pricing and underwriting insurance policies; and settle claims in
the US and other key markets. Industry-leading products provide
real-time information on policy holders, identify insurance
coverage details and lapses in coverage, and give insurers
access to vehicle and behaviour-centric data, standardised
across automakers for the underwriting and claims processes.
Innovative decision tools seamlessly integrate into an insurer’s
workflow and are delivered through a single point of access
within an insurer’s infrastructure.
Insurance solutions drive more consistency and efficiency in
claims, providing data and decisions for challenging total losses
at first notice of loss and throughout the claim life cycle. Insurance
solutions provide comprehensive interior and exterior data for
home and commercial property insurers and offers AI-enabled
insights to fast-track decision-making for new business or
renewal underwriting and claims processes.
We continue to launch solutions for auto, home and commercial
insurers utilising proprietary claims information married with
other attributes to deliver industrywide benchmarking analysis
and actionable, future-focused insights.
Life insurers use predictive models, public and motor vehicle
records, consumer-driven health information, combined medical
and behavioural data and evidence-based ordering across the
policy life cycle to better understand mortality risk, reduce
misrepresentation, improve underwriting processes and make
life insurance more accessible.
Healthcare solutions, formerly reported within STM, support the
payer, provider, pharmacy and life sciences sectors. Consumer,
provider and medical claims data and proprietary smart
tokenisation technology enable the delivery of market-specific
identity access management, provider data management,
healthcare market analysis, clinical research and regulatory
compliance solutions.
Specialised Industry Data Services,
representing just over 10%
of revenue, provides critical business intelligence, data, software
and analytics solutions to professionals in many of the world’s
largest industries. These solutions include: ICIS, an independent
source of data and intelligence for the global commodities,
chemicals and energy markets; Cirium, the aviation analytics
company; Brightmine, a compliance, benchmarking and
pay-equity data and analytics business driving global HR topics;
and Nextens, a provider of workflow solutions, content and
analytics for tax professionals.
Government,
representing just over 5% of revenue, continues to
help US agencies shift from identity verification to authentication
to confront fraud, waste, and abuse. Front-end identity
authentication is central to how the government dispenses
hundreds of billions of dollars in entitlements, stimulus,
benefits and contracts to people and businesses.
LexisNexis Accurint AI Insights is a new, first-to-market
AI solution for public safety, designed specifically for law
enforcement. This advanced tool automates crime trend
identification, providing agencies with rapid analysis and
actionable intelligence. By enabling proactive responses to
emerging threats, Accurint AI Insights streamlines investigative
processes and enhances decision-making. The platform offers
Fraud and Identity Management Portfolio
Financial Crime Compliance Portfolio
We provide digital, physical, device and
behavioural risk signals to help organisations
better assess consumers, prevent fraudulent
transactions, improve operational efficiencies
and protect accounts while minimising friction
for trusted users. Fraud and Identity
introduced new data sources, expanded fraud
truth data and deepened integration of digital
and analogue attributes alongside risk scores.
ThreatMetrix updates provided greater
visibility into fund flows across mule networks
and enabled proactive alerts to recipient
banks about potential mule accounts. We
established new consortia in Hong Kong,
Singapore and the US
Our financial crime compliance offerings
deliver comprehensive solutions for
addressing financial crime risk. In 2025,
Business Services enhanced Firco Continuity
to enable comprehensive compliance audits by
increasing long-term, transaction data
storage, supporting higher volumes and data
retention while sustaining performance.
We integrated the entity resolution filter into
Bridger Insight XG, reducing manual alert
reviews and enabling more efficient
compliance programmes
Credit Portfolio
Our Credit Risk solutions use analytics
and expansive data sets to deliver robust
consumer and business credit assessments
and drive financial inclusion. In 2025,
we incorporated additional affordability
assessment attributes into RiskView UK
to align with the Gambling Commission’s
responsible lending regulations. We
expanded Decision Trust in Latin America
and introduced RiskView Credit Misuse to
help lenders combat first-party fraud
LexisNexis Claims Compass
LexisNexis C.L.U.E.
LexisNexis Total Property Understanding
Our data analytics platform delivers
LexisNexis Claims Datafill, VINsights,
Carrier Discovery, Claims Clarity and
LexisNexis Police Records solutions directly
into insurer workflows to improve the claims
process from first notice of loss, triage,
investigation and resolution, through recovery
LexisNexis Comprehensive Loss
Underwriting Exchange (C.L.U.E.), is a claims
history database that collects and reports up
to seven years of US personal automobile,
property claims and small business
information to inform insurance pricing
and underwriting decisions. Our ongoing
investments to help insurers better segment
and rate customers include incremental
risk event data indicating vehicle damage
Our complete property risk assessment
solution helps home insurance underwriters
more easily identify properties with risk or
coverage opportunities and survey those
priority properties using consumer-friendly,
configurable AI-driven property assessment
technology that delivers actionable insights
into the underwriting workflow
For more information
visit relx.com
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
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Annual Report 2025 | Market segments
Rest of world
8%
Europe
13%
North America
79%
Subscription
39%
Other transactional
Geography
Type
Transactional
61%
Long-term contracts
with volumetric elements
2025 Revenue £3,485m
Transactional activity is driven by growth in insurance quoting
and policy switching, as consumers seek better policy terms. This
activity is stimulated by competition among insurance companies,
increased loss ratios and consumer interest in insurance internet
quoting and policy binding. We see opportunities across the
insurance continuum using data and analytics to play a critical role
in assisting the insurer and consumer decision-making process.
This helps consumers and businesses transact with insurers
throughout the policy life cycle.
We deliver solutions that bridge insurers and automakers,
utilising connectivity and regulated data from connected cars
to insert vehicle data into insurer workflows and empower
consumers with a deeper understanding of driving behaviour.
Our deepening relationships with automakers reflect the need
to better understand consumer loyalty, improve and digitise the
consumer experience through ownership management and
connected services solutions, while creating efficiencies within
automakers’ operations.
In Specialised Industry Data Services, growth in the global
commodities and chemicals markets is led by changing trade
patterns, a drive to embrace sustainability and demand for more
sophisticated supply chain solutions to better utilise precious
resources. The aviation industry continues to focus on digital
transformation, to drive more efficient, effective and profitable
business models in businesses such as airlines, with a
particularly strong focus on CO
2
emissions data and Corporate
Responsibility reporting. The rapidly changing workforce
environment is driving employers to better utilise data and
analytics to attract, retain and develop a diverse workforce which
is further accelerating growth in human resource management.
With over 8,000 federal, state, and local agencies using our
services, the Government business continues its mission of
preventing fraud, fighting crime, reducing risk, and providing
citizens with immediate, equitable access to government systems.
The addition of AI capabilities, underpinned by responsible data
governance, helps our government customers enhance fraud
prevention and data integrity while ensuring secure and efficient
access to services. The Cares Act amplified the demand for
robust online access and highlighted the sophistication of fraud
attempts, underscoring the importance of advanced technologies
like AI in safeguarding public resources. As agencies adopt
private sector innovations, the integration of AI-driven insights
will support more proactive measures against improper
payments and enhances the integrity of government programmes.
The level and timing of demand in this market remain influenced
by government funding and revenue considerations, as well as the
US administration’s priorities.
immediate access to identity and authentication analytics,
combining advanced AI with extensive data expertise to
support public safety agencies in protecting communities
with data-driven insights.
Market opportunities
We operate in markets with strong long-term growth in demand
for high-quality advanced analytics based on industry information
and insight, including: financial crime compliance; business risk;
fraud and identity solutions; due diligence requirements
surrounding customer enrolment; security and privacy
considerations; insurance underwriting transactions;
insurance acquisition, retention and claims handling; provider
data management; patient engagement and population health
strategies; healthcare market analysis, clinical research;
data and advanced analytics for the banking, commodities
and chemicals, aviation and human resources sectors;
and tax and public benefits fraud.
Expansion of mobile and digital use cases and the growing mix
of consumer payment options continue to drive opportunity for
Business Services solutions that support efficiency in risk
decision making. As criminals continuously adjust attack vectors
targeting financial transactions, organisations are utilising
our solutions to evolve their financial crime, compliance and
consumer and business credit, fraud and scam detection and
prevention programmes.
Mounting costs from fraud schemes, anti-money laundering
programmes, fast changing sanctions, anti-bribery and
corruption enforcement, financial transparency and inclusion
initiatives, and heightened regulatory scrutiny also provide
growth opportunities. We are seeing new use cases for our
solutions emerge for corporations, 3D Secure, ecommerce,
travel, gaming/gambling, telecommunications, trade compliance
and new alternative digital payment methods such as digital wallet
applications and Buy Now, Pay Later, particularly mule account
setup detection. Continued rapid digitalisation of emerging
markets provides growth opportunity for fraud and identity in
digital channels. We are also seeing revived demand in third-party
collections and non-prime lending.
In Insurance, growth is supported by customer experience
advances in the auto, home, commercial and life insurance
markets, and the increasing adoption by insurance carriers
of more sophisticated data and analytics in the prospecting,
underwriting and claims evaluation processes to assess risk,
increase competitiveness, improve operating cost efficiency
and address profitability challenges.
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Annual Report 2025 | Risk
Revenue
2025
3,485
3,336
Underlying growth
+8%
2024
GBPm
Adjusted operating profit
2025
1,233
Underlying growth
+10%
2024
GBPm
1,305
Strong fundamentals continuing to drive underlying
revenue growth
Underlying revenue growth of +8%. Strong growth continues to
be driven across segments by our deeply embedded, AI-enabled
analytics and decision tools.
Underlying adjusted operating profit growth was +10%, leading
to an increase in adjusted operating margin.
In Business Services, strong growth continues to be driven by
Financial Crime Compliance and digital Fraud & Identity solutions,
and strong new sales.
We continue to expand our extensive,
differentiated data assets, build out our global fraud
infrastructure, and more deeply integrate advanced authentication
and behavioural intelligence, to address the increasing complexity
of risk decisioning for customers worldwide.
In Insurance, strong growth continues to be driven by further
innovation and adoption of contributory databases and
market-specific solutions, supported by positive market factors
and strong new sales.
We continue to extend our products
across the insurance continuum, and across insurance lines,
while adding data sources and analytics to enhance value for
customers.
Specialised Industry Data Services growth continues to be led
by Commodity Intelligence, and Government growth continues
to be driven by analytics and decision tools.
2026 outlook
We expect continued strong underlying revenue growth with
underlying adjusted operating profit growth exceeding
underlying revenue growth.
2025 financial performance
Restated
2024
GBPm
2025
GBPm
Change
in GBP
Change at
constant
currency
Underlying
growth
Revenue
3,336
3,485
+4%
+7%
+8%
Adjusted operating profit
1,233
1,305
+6%
+9%
+10%
Strategic priorities
Our strategic goals are anchored in helping customers achieve
better business outcomes by offering greater insight into risks and
opportunities associated with individuals, businesses, devices,
and transactions. We provide data and solution tools to help
customers make better risk-adjusted decisions to grow
successfully. We enable this by focusing on: delivering innovative
products; extending our risk management solutions to new
applications; adapting our global competencies to meet local
needs; and investing in technology to complement organic
innovation to continuously expand our analytical capabilities.
LexisNexis Risk Solutions continues to develop sophisticated
extractive AI and Machine Learning (ML) techniques to generate
actionable insights that help our customers make accurate and
timely decisions and to improve our internal efficiencies by
leveraging and adapting extractive AI/generative AI tools.
Our successful deployment of AI and ML techniques both for
our customers and for our internal needs is built on a strong
foundation that is comprised of: a deep understanding of customer
and stakeholder needs, the breadth and depth of our data sets, and
our expertise and domain knowledge that helps us discern which
AI/ML algorithm to use in a given context to solve business
problems most effectively.
Business model, distribution channels and competition
We sell our products direct-to-client, with pricing based on
subscription or transactional with volumetric elements.
We also utilise a robust partner distribution channel.
Principal competitors in Business Services include data and
analytics companies such as the major credit bureaux, which in
many cases address various capabilities within each solution
offering. In Insurance, data and analytics competitors such as
Verisk sell solutions to insurance carriers but largely address
different activities to ours. Principal competitors in the
Government segment include data providers such as the major
credit bureaux. Specialised Industry Data Services competes with
a number of information providers on a service-by-service basis
including S&P Global Platts and Thomson Reuters as well as
various niche and privately owned competitors.
2024 results restated to reflect business area reporting changes
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
60 to 80% faster
Insurance Market Insights delivers data approximately
60 – 80% faster than industry standards
14
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Annual Report 2025 | Market segments
About LexisNexis Insurance Market Insights
The LexisNexis Insurance Market Insights platform provides
US auto and property insurers market intelligence about loss
frequency, claim severity, mix-of-business, claims duration and
customer shopping behaviour. This enables insurers to validate
strategic decisions, measure their results against industry
averages, pivot quickly, and assess the impact of new initiatives
months ahead of standard sources of benchmarking intelligence.
Additionally, insurance companies can drill down further to
analyse specific risk segments by limits, coverage and major
peril, state, metropolitan area, policy type, building age, square
footage and catastrophe indicator to better understand whether a
challenge is isolated to their operations or an industry-wide event.
LexisNexis Risk Solutions leverages its deep proprietary datasets
and industry wide contributory and transactional databases
representing a majority of US auto and property insurance
policies, claims and shopping transactions to deliver Insurance
Market Insights, which can be seamlessly integrated into an
insurance company’s workflow.
Traditional market reporting often lags by six
to 12 months, leaving insurance companies
reactive rather than proactive to market or
organisational trends impacting their business.
Without the opportunity to slice timely
information, insurers end up with limited
views not relevant to the market segments
they serve or channels they use.
Side-by-side data comparisons of internal and external auto
and property insurance trend data are often resource and time
intensive. Varying regulatory rules for other data sources can
result in inconsistencies when comparing benchmarking
information. Insurance Market Insights provides normalised and
consistently calculated results for both the insurer and industry
side-by-side to speed up the process for interpreting results in
the context of macro trends impacting the US insurance sector
and economy.
Utilising the proprietary LexisNexis Risk Solutions extractive
AI and big data processing platform to pull in contributory and
transactional information, Insurance Market Insights closes the
gap by delivering data as quickly as 7-30 days post-event. This
timeliness, approximately 60-80% faster than industry standards,
enables insurers to respond to emerging trends, economic shifts,
and competitive pressures with agility and confidence. For
consistency, normalised insurance company and industry
information supports like-for-like comparison. The platform’s
dashboards offer flexible filtering to drill down into various risk
segments, enabling precise performance evaluation and multiple
options for granular views.
LexisNexis Insurance Market Insights
Supporting US personal auto and property insurance companies
in making more informed decisions
Insurance companies can interpret this information to monitor
their own process changes or strategic moves and optimise
profitability. A US auto insurance company, for example, can add
a new rating element in order to quote and price risk more
effectively. In this use case, while the new rating element can
improve its pricing accuracy, it can also have an unintended effect
in attracting higher frequency business. With benchmarking
from Insurance Market Insights, the insurer can quickly identify
this issue and adjust its pricing to align with their strategy.
As another example, insurance companies are also using
Insurance Market Insights to address the increasing severity of
bodily injury claims, which had a sharp trend upward, increasing
7% in 2025 versus the prior year and over 26% versus 2021.
The impact of the severity increases has been compounded by
moderate frequency increases that have occurred over the last
two years.
LexisNexis Risk Solutions analysis revealed personal property
claim severities are up 30% in 2025 compared to 2024 and 71%
versus 2021. The 2025 increases were heavily driven by the CA
wildfires from Q1 2025. With the detailed analysis of catastrophe
versus non-catastrophe home claims trends and by peril within
Insurance Market Insights, insurers can better understand their
severity trends and the impact of catastrophic claims events so
they can more intelligently serve their customers.
In a rapidly evolving insurance landscape, this
cutting-edge benchmarking and analytics platform
is used by US personal auto and property insurance
companies to evaluate their performance relative to
the industry and make faster, more informed decisions.
Christopher Rice
VP Product Management, LexisNexis Risk Solutions
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Annual Report 2025 | Risk
About ThreatMetrix
LexisNexis ThreatMetrix, powered by the Digital Identity Network,
is a global, cross-industry risk intelligence network that analyses
billions of transactions annually. By linking devices, locations,
behaviours and other digital credentials in real time, ThreatMetrix
helps organisations accurately differentiate between genuine
customers and malicious actors, from a consumer’s first contact
and throughout their entire digital journey.
About Crypto.com
Crypto.com is one of the world’s largest cryptocurrency platforms,
with more than 140m users across more than 100 jurisdictions.
With a mission to accelerate global cryptocurrency adoption, the
company provides a secure and reliable platform to buy, sell and
use digital assets with confidence. Crypto.com is also the industry
leader in regulatory compliance, security and privacy, with more
than a hundred licences, certifications, registration and regulatory
approvals globally. As the business has scaled, growing its user
base by 180% and trading volumes by more than 950% between
2022 and 2025, maintaining the highest standards of security,
privacy and regulatory compliance has remained paramount.
Crypto.com supports the exchange of Bitcoin, Ethereum and 400+
cryptocurrencies (cryptocurrencies available vary by jurisdiction).
The global landscape in the crypto industry
has changed significantly. Third party fraud
and chargebacks used to be the main concerns.
Today, scams which are often sophisticated
and fast moving pose the biggest threats.
As Crypto.com’s platform grew, so did the
volume and complexity of the attacks, from
AI generated identities to social engineering
tactics. While users expect a seamless
experience, they also expect the platform to be
secure. Crypto.com operate in a space where
trust is crucial and can be quickly undermined.
Crypto.com needed a fraud-prevention solution that could keep
pace with its growth and progress toward expanding their global
offering to include stocks, banking services, credit cards and
payment cards, without compromising customer experience.
Crypto.com deployed ThreatMetrix to optimise fraud detection
and increase operation efficiencies by automating onboarding
and transaction workflows. ThreatMetrix utilises real-time
digital identity and behavioural intelligence from one of the
largest cross-industry data networks in the world. This enables
Crypto.com to proactively stop fraudulent activities before they
impact their platform.
ThreatMetrix helps us raise our fraud capture rates
and streamline trusted user experiences so we can
stay focused on scaling our platform and expanding
our global business.
Deyan Tsvetkov
Senior Vice President, Risk Management, Crypto.com
LexisNexis ThreatMetrix:
Strengthening fraud prevention for a rapidly expanding
cryptocurrency platform
26%
Crypto.com saw a 26% lift in fraud capture rates
With rapid growth and ambitious expansion plans in an industry
where instant transactions play an integral role in customer
conversion and satisfaction, Crypto.com benefits from
ThreatMetrix’s ability to easily configure to fit Crypto.com’s
specific speed and volume requirements. The solution also
delivers the responsiveness demanded by a dynamic threat
environment defined by AI-enabled fraud, bots, scams and social
engineering. ThreatMetrix offers the advantages of contributory,
cross-industry digital identity, device and behavioural intelligence
combined with AI-powered models and analytics which help
Crypto.com automate decisions and avoid fraud upfront.
By implementing LexisNexis ThreatMetrix, Crypto.com
significantly boosted its fraud prevention capabilities across
the customer journey, helping them automate decisioning,
streamline onboarding and maintain high standards of
compliance and user experience.
Crypto.com saw a 26% lift in fraud capture rates, a 15% reduction
in fraud losses tied to chargebacks, and a 20% reduction in time
spent on manual reviews and investigations. Return on
investment was achieved in the first six months.
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
16
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Annual Report 2025 | Market segments
Business overview
Scientific, Technical & Medical helps advance science and
healthcare by combining high-quality, trusted scientific and
medical information and data sets with innovative technologies
to deliver critical insights that support better outcomes.
Elsevier is headquartered in Amsterdam, with principal sites in
New York, Philadelphia, and St. Louis in North America; London,
Oxford, Frankfurt, Munich, Madrid and Paris in Europe; Beijing,
Shanghai, Chennai, Delhi, Sydney, Singapore and Tokyo in Asia
Pacific, and Rio de Janeiro in South America. It has 9,700
employees with customers in over 170 countries and territories.
Revenues for the year ended 31 December 2025 were £2,714m,
compared with £2,624m in 2024 and £2,581m in 2023. In 2025, 43%
of revenue came from North America, 23% from Europe and the
remaining 34% from the rest of the world. Subscription revenue
represented 80% of total revenue and transactional revenues
represented 20%.
Elsevier’s customers are scientists, research leaders, librarians,
medical researchers, doctors, nurses, allied health professionals
and students, as well as hospitals, academic and research
institutions, research-intensive corporations, funders,
and governments.
Elsevier’s services across Academic & Government, Corporate
and Health markets focus on: Databases, Tools and Electronic
reference and Primary Research. In each of these markets, our
objective is to help impact makers shape human progress to go
further, happen faster, and benefit all.
Databases, Tools and Electronic Reference, together with
Corporate Primary Research, accounts for around 45% of STM
revenues, with Academic & Government Primary Research
accounting for around 55%, all in electronic format.
Databases & Tools & Electronic Reference.
Elsevier’s databases,
tools and electronic reference products help customers and
users solve complex problems and make critical decisions,
and we are enhancing these capabilities with AI across all
our business areas. Solutions include LeapSpace, Scopus/
ScopusAI, ScienceDirect AI, SciVal, Interfolio, Engineering Village
and Pure in Academic & Government; Reaxys/Reaxys AI Search,
Embase AI, PharmaPendium AI and SciBite in Corporate; and
ClinicalKey/ClinicalKey AI, HESI, Sherpath AI, Shadow Health,
ClinicalPath, and Osmosis, for Health.
Elsevier’s research solutions combine quality, curated content
and extensive data sets with responsible AI and large language
model (LLM) technology to help researchers, academic leaders,
policy makers, funders and R&D-led corporations to generate
insights, set and implement research strategies and make
decisions with confidence. This portfolio integrates with and
enhances the systems institutions rely on, with interoperability
driven by Application Programming Interface technologies (APIs).
In early 2025, Elsevier launched a new generative AI tool on
ScienceDirect, the world’s largest platform for peer-reviewed
research used by more than 20m researchers each month.
ScienceDirect AI helps transform the way researchers work by
enabling them to instantly extract, summarise and compare
trusted insights from millions of full-text articles. In November,
Elsevier introduced LeapSpace, a next-generation AI-powered
workspace, combining the broadest collection of trusted scientific
content with responsible AI to help researchers uncover deeper
insights, accelerate innovation, and collaborate seamlessly – in
one secure environment.
We deliver insights that help
universities, research institutions,
governments and funders achieve
their goals. We help researchers
discover and share knowledge,
collaborate, and accelerate innovation.
We help librarians provide trusted,
high-quality information to their
universities. We help innovators
transform the latest knowledge into
new products. We help health
professionals improve patient care,
and educators train the next
generation of doctors and nurses.
Scientific, Technical & Medical
17
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Annual Report 2025 | Scientific, Technical & Medical
For Corporate R&D, Elsevier provides connected, configurable
solutions that combine comprehensive data with analytical and
predictive tools. In 2025, new innovations included Reaxys AI
Search, which enables chemists and R&D teams to explore over
123m chemistry documents, as well as patents and peer-reviewed
journal articles using natural language discovery. New EmbaseAI,
the generative AI-powered version of Embase, the leading
biomedical database, allows users to pose queries in natural
language and receive a summarised response with inline citations
to ensure transparency. PharmaPendium AI, an AI-powered
upgrade to our PharmaPendium solution, empowers regulatory
affairs specialists, drug development professionals, and clinical
researchers by providing easy access to regulatory precedents
from the US Food and Drug Administration and European Medicines
Agency documents, and enables effective regulatory planning as
well as supporting core research on toxicology and drug safety.
In Health, Elsevier’s clinical solutions include digital solutions for
doctors, nurses, care teams and patients. Its clinical reference
platform, ClinicalKey, helps doctors, nurses and students find
clinically-relevant answers through a range of trusted content
across specialities. This includes Elsevier’s vast collection of
medical reference content, including over 2,500 clinical overviews,
over 7.3m images and over 128,000 medical videos in one integrated
platform. ClinicalKey AI combines this content with generative AI
technology. ClinicalPath Oncology presents evidence-based
oncology pathways embedded in the clinical workflow, and the
associated analytics, to help oncology care teams make consistent,
well-informed decisions for high quality care.
Elsevier also serves students of medicine, nursing, and allied
health professions. Sherpath, an adaptive teaching and learning
solution which also offers an AI tool, provides personalised
learning paths at over 800 institutions, supporting more than
500,000 course enrolments, while ClinicalKey Student is used
in over 450 medical schools globally.
In electronic reference, Elsevier provides authoritative reference
content to scientific, technical and medical professionals.
Flagship titles include Gray’s Anatomy, Nelson’s Pediatrics and
Netter’s Atlas of Human Anatomy.
Primary Research.
Elsevier helps researchers validate, improve
and disseminate their scientific findings through its more than
3,000 journals, enhancing the record of scientific knowledge by
applying highest standards of quality and ensuring trusted
research can be accessed, shared and built upon. Elsevier
journals are the foremost publications in their field, including
flagship families of journals like Cell Press and The Lancet.
Research content is distributed and accessed via ScienceDirect,
the world’s largest platform dedicated to peer-reviewed primary
scientific and medical research.
In 2025, Elsevier received more than 4.2m article submissions,
which were rigorously reviewed by our in-house editorial teams
in collaboration with over 37,000 editors and over 1.9m expert
reviewers around the world. The result is over 795,000 articles
enhanced, indexed, certified, published and promoted following
peer review, with the global scientific community accessing
articles over 2.9bn times across its journal platforms.
LeapSpace, a next-generation AI workspace built
on the world’s most comprehensive collection of
scientific content to help researchers uncover
deeper insights, accelerate innovation, and
collaborate seamlessly in one secure
environment. It combines multi-model
responsible AI with transparency and clear trust
markers, industrial-grade data privacy and
security, so that every insight is explainable,
traceable, and grounded in the highest-quality
global science
An expertly curated abstract and citation
database with content from over 31,000
academic journals from 7,000 publishers to help
track and enhance researcher and institutional
data and discover global research in all fields.
Scopus AI helps researchers get deeper
research insights faster, navigate and
understand different disciplines more easily
and support interdisciplinary collaboration
Clinical knowledge solution helping healthcare
professionals and students find the most clinically
relevant answers from comprehensive trusted
content across specialities. ClinicalKey AI
combines the latest and most trusted medical
content with generative AI to help clinicians at the
point of care. The tool integrates with electronic
health records systems
The world’s most advanced 3D anatomy
platform, Complete Anatomy is revolutionising
how students, educators, health professionals
and patients understand and interact with
Anatomy
The world's largest chemical database, Reaxys
combines over a billion chemistry data points from
journals and patents with AI to support innovation
in drug discovery, chemical R&D and academia.
Chemists can quickly access relevant patent,
substance and bioactivity insights, and an
award-winning retrosynthesis tool
SciVal is an analytics solution that provides
insights into the research performance of over
24,700 academic, industry and government
research institutions
For more information
visit relx.com
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
18
RELX
Annual Report 2025 | Market segments
Transactional
20%
Subscription
80%
Geography
Type
Rest of world
34%
Europe
23%
North America
43%
confidence. We have a multi-model approach and adapt AI for
specific domains, such as research, life sciences, clinical care,
health education, through hybrid search, knowledge graphs,
ontologies, large language model and human expertise-based
evaluations to provide users with answers that are precise,
relevant, and useful in real-world settings.
In Primary Research, Elsevier’s priority is to support researchers
by finding a home for every sound science article submitted, and
providing choice in payment model, quality tier, and scientific
discipline. We aim to deliver above industry average journal and
article quality, at below average article download and publishing
cost, leveraging our scale and expertise. Elsevier works with
customers to help them reach their research goals through
excellence in content, service and value. Elsevier is building on its
premium brands, enhancing quality through peer review, and
increasing article volume through new journal launches, the
expansion of open access journals and growth from emerging
markets; and broadening the range and quality of insights across
research solutions.
We continue to improve customer experience while driving
operational efficiency and effectiveness; and collaborate to
advance open science, inclusive research and inclusive health
and support the UN Sustainable Development Goals, through our
business and the Elsevier Foundation.
Business model, distribution channels and competition
In Databases, Tools and Electronic Reference, solutions like
Scopus, Clinical Key and Reaxys, are generally sold direct to
institutional, healthcare and corporate customers through global
sales force. Reference and educational content are sold directly to
institutions and individuals and accessed on Elsevier platforms.
In Primary Research, science and medical research is distributed
via the ScienceDirect platform, supported by two separate
payment models to suit author preferences: pay to read articles
funded by payments for reading made by individuals or
institutions; and pay-to-publish (commonly known as open
access) funded by payments for publishing, made by authors,
their institution or funding bodies. Elsevier offers a range of pay
to read and pay to publish options, both subscription-based and
transactional, to fit the diverse needs of institutions, funders,
and researchers worldwide. Nearly all of Elsevier's over
The latest available long-term comparison with the market
showed that Elsevier journal articles accounted for over 18%
of global research output and 29% of citations, demonstrating
Elsevier’s commitment to quality significantly ahead of the
industry average. Elsevier is the global leader in open access
publishing, with over 285,000 open access articles published in
2025, a year-on-year increase of nearly 14%, and over 960 fully
open access journals following 75 new launches during the year.
Elsevier’s world-leading research platforms make available
4.3m validated open access articles.
Elsevier has also invested in other research solutions, such as
SSRN, an open access online preprint community where
researchers post early-stage research, Scopus Author Profiles
showing preprints to provide an early view into a researcher’s
focus areas and Digital Commons helping academic libraries
showcase and share their institutions’ research via institutional
repositories for greatest impact.
Market opportunities
Scientific, technical and medical information markets have
positive long-term growth characteristics. Investment in R&D
is critical for nations and corporations to create competitive
advantage, drive innovation, economic growth and solve societal
issues. This leads to long-term growth in R&D spending and
sustained increases in researchers worldwide. As people live
longer and aim to live healthier lives, health expenditure and the
number of physicians and nurses also continues to grow strongly.
Strategic priorities
Elsevier’s strategic priorities are to help our customers solve
critical and complex problems, by expanding content quality,
coverage and utility; combining content with analytics and
technology to build integrated solutions and decision tools that
utilise advanced Machine Learning (ML) and AI to improve
productivity and outcomes, and enable insights underpinning
critical decisions, benchmarking and evaluation.
In Databases, Tools and Electronic Reference, Elsevier is applying
advanced linking capabilities and AI to our vast verified research
and healthcare information and data sets, including patent,
research grants, drug information, medical claims data, to
develop products that help our academic & government,
corporate and health customers make critical decisions with
2025 Revenue £2,714m
19
RELX
Annual Report 2025 | Scientific, Technical & Medical
Development of analytics continuing to drive underlying
revenue growth
Underlying revenue growth of +5%. Good growth, with
improving momentum, continues to be driven by the evolution of
the business mix towards higher growth, higher value analytics
and tools.
Underlying adjusted operating profit growth was +7%, resulting
in an increase in adjusted operating margin.
In Databases, Tools & Electronic Reference, strong growth
continues to be driven by higher value-add analytics and
decision tools, with continued rollout, adoption and usage
growth of our AI-enabled tools, such as Scopus AI and Sherpath
AI. We continue to expand our solution sets, built on our
industry-leading trusted content, with a series of new releases
in 2026, the most recent of which is our next generation
end-to-end AI-powered researcher solution, LeapSpace.
In Primary Research, good growth continues to be driven by
volume growth, with article submissions growing very strongly
across the portfolio.
Improving momentum is supported by the increasing pace of
new product introductions, and strong new sales.
2026 outlook
We expect good to strong underlying revenue growth with
underlying adjusted operating profit growth exceeding
underlying revenue growth.
2025 financial performance
Restated
2024
GBPm
2025
GBPm
Change
in GBP
Change at
constant
currency
Underlying
growth
Revenue
2,624
2,714
+3%
+5%
+5%
Adjusted operating profit
981
1,035
+6%
+7%
+7%
Revenue
2025
2,714
2,624
Underlying growth
+5%
2024
GBPm
Adjusted operating profit
2025
1,035
981
Underlying growth
+7%
2024
GBPm
3,000 journals enable open access publishing, with more than
960 dedicated author pays journals, the largest portfolio of open
access titles in the industry. In addition to being the global leader
in quality and pay-to-read, Elsevier also leads in pay-to-publish
(open access).
Elsevier is a founding and driving partner of Research4Life, a United
Nations initiative, providing free or low-cost access to research for
publicly funded institutions in the world’s least resourced countries.
Over 11,500 institutions in 125 countries participate.
Some Elsevier primary research and reference content and some
print-based commercial marketing services in pharmaceutical &
life sciences promotion is sold in a print format. From 2025, print
and print-related activities are managed and reported separately.
Competition within science and medical reference content is
generally on a title-by-title and product-by-product basis,
typically with learned society publishers and professional
information providers, such as Springer Nature, Clarivate and
Wolters Kluwer. Decision tools face similar competition, plus
software companies and customer home-grown solutions.
2024 results restated to reflect business area reporting changes
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
20
RELX
Annual Report 2025 | Market segments
As research output continues to grow globally,
Elsevier’s investments in technology help enhance
the publishing experience for authors, editors and
reviewers, so quality research can continue to
advance human progress.
Arnold Pippel
Senior VP, Customer Experience and Innovation
About Elsevier
As the largest publisher of scientific journals, Elsevier handles
more than 4.2m research submissions each year, spanning
3,000 journals across a network of millions of authors,
reviewers, and tens of thousands of editors. This unparalleled
scale brings complexity, requiring extensive investment and
constant innovation to enhance the user experience while
managing an ever-growing volume of content and safeguarding
research quality and integrity.
In 2025, Elsevier initiated one of the most
ambitious transformations in scientific
publishing, building a next generation
publishing platform designed to deliver an
enhanced end-to-end experience for authors,
editors and reviewers. Key steps in the
publishing workflow of submission and peer
review were completed in 2025. Other editorial
workflows will be addressed in 2026 and
expected to be completed in 2027.
Over several decades, Elsevier’s publishing system grew to
support 3,000 journals, offering extensive configurability
across multiple settings and numerous databases within its
infrastructure. While the scale and diversity of options provided
flexibility and accommodated a wide range of publishing needs
across disciplines, an opportunity emerged to streamline
processes for both authors and reviewers, and in parallel, to
advance efforts to safeguard research integrity against practices
such as citation manipulation and fabricated data or images.
Elsevier set out to completely redesign its publishing platform
with users in mind. At the heart of this transformation is a unified
data lake and architecture, unlocking the power of real-time
data and scalable innovation.
A New Digital Foundation
A key technological advance is Elsevier’s new capability to
deconstruct and identify all the elements of a manuscript,
automatically extracting and linking entities such as titles,
abstracts, author names and embedded figures. Our latest
technology then enables structuring of the manuscript into a rich
digital format, unlocking new capabilities and enhancements.
This streamlines the submission process for authors who now
benefit from automated metadata extraction and real-time error
detection, and lays the groundwork for new integrity checks and
editorial tools.
For example, advanced extraction helps to auto-format
manuscripts for peer review, check for missing items or errors,
and support authors in ensuring all required ethics or integrity
related declarations are present.
By providing the ability to simultaneously view reviewer and
author comments on a single screen, the platform helps editors
+10% faster
The overall editorial process is now faster by more
than 10%
save time and make more confident decisions. At the same time,
reviewers are supported with inline commenting tools and
article-style formatting, enhancing the interactivity and efficiency
of peer review.
The impact has been significant, with author satisfaction
reaching almost 90%. The overall editorial process is now faster
by more than 10%. Early data indicates quality improvements.
For example, acceptance rates for manuscripts undergoing
peer review have risen by approximately five percentage points,
reflecting the benefits of enhanced feedback and collaboration
in the new experience.
Advanced Integrity Toolkit
As in other sectors, science is at risk from fraudulent activity.
Elsevier introduced an advanced ethics toolkit, using numerous
signals and AI-based analysis to flag integrity concerns before and
after publication. These include AI phrasing, authorship changes,
and simultaneous submissions. Human experts validate flagged
cases, ensuring that trust in the scientific record remains robust
and authors get a consolidated view of reviewers' feedback,
including annotation-based comments directly on their
manuscripts, making it easier to address the feedback needed
to improve their manuscript.
Crucially, Elsevier adopted a phased implementation strategy,
introducing innovations incrementally and working in close
partnership with editors and researchers throughout the process
to support adoption. By combining cutting-edge technology with
integrity-focused design and human expertise, Elsevier is
delivering a publishing experience that is not only simpler and
faster, but also more secure and supportive for all users.
Elsevier
Transforming scientific publishing to support
the demands of modern research
21
RELX
Annual Report 2025 | Scientific, Technical & Medical
About Sherpath AI
Sherpath AI is an adaptive digital learning, conversational AI
solution designed to enhance nursing education through
personalised learning paths. Integrated within Sherpath, it
introduces an interactive feature that allows students to ask
questions in natural language and receive evidence-based
answers drawn exclusively from Elsevier’s trusted content.
Already used by over 73,000 students (nearly 15% of all nursing
students) and 6,000 instructors in the US, the tool has helped
answer more than 7m enquiries in 2025. This real-time,
AI-powered interaction deepens understanding, reinforces key
concepts, and creates a more engaging and efficient learning
experience for nursing and health education students.
In 2025, St. Johns River State College (SJR
State) and Georgia Southern University (GSU)
pioneered the use of Sherpath AI, Elsevier’s
artificial intelligence-powered learning
platform, and investigated its potential for
advancing undergraduate nursing education.
The platform leverages responsible generative
AI and Elsevier’s evidence-based content to
deliver personalised, dynamic support for both
educators and students.
For Dr Vanessa Roth, Foundations Instructor at SJR State,
ensuring exam integrity and fostering critical thinking were top
priorities. She faced a significant challenge: test questions were
circulating online.
“I can memorise a test question after seeing it once,” she said. “If I
can do that, students can too. It doesn’t help them when they go on
to harder classes. It’s not helping them build the skills they need.”
Sherpath AI transformed Dr Roth’s approach to assessment.
The platform enabled her to rapidly generate multiple versions of
exams, saving her valuable time in the process.“I was able to write
four different versions of the regular chapter exams, and then one
final, within a month,” she explained. She wanted to write new
questions herself, but the time required to build and validate
exams from scratch was daunting. “Without Sherpath AI, I never
would have slept,” she laughed.
Unlike generic AI tools, Sherpath AI is built on Elsevier’s vast
library of verified nursing education content and includes features
like Osmosis videos, source citations, and alternative ways to
explain difficult concepts. Dr Roth continued,
"It’s tied to my book, so I know the content is accurate."
This not only protected test integrity but also saved considerable
time, allowing Dr. Roth to focus on grading and curriculum
development. Sherpath AI’s adaptive capabilities meant that
exam questions could be refined based on student feedback,
continually improving their relevance and effectiveness.
The impact extended beyond SJR State. At Georgia Southern
University, Sherpath AI was introduced in two undergraduate
nursing courses, reaching over 140 students. Usage data revealed
that students engaged with Sherpath AI most intensively during
exam periods, with weekly queries ranging from 46 to 670 per
course. Notably, students began using Sherpath AI for subjects
beyond those where it was formally introduced, including
pharmacology, obstetrics, and pediatrics. This cross-disciplinary
adoption highlighted the platform’s intuitive design and
broad relevance.
A survey of a sample of students at GSU underscored Sherpath
AI’s positive influence on student learning at that institution.
Over 70% of respondents reported that Sherpath AI “inspires me
to learn new things,” while over 60% said it “makes them feel
more empowered” and “more involved with their studying.”
Additionally, over 65% indicated that Sherpath AI “improved
their performance,” “gave them control over their studies,”
and “enhanced their learning effectiveness.”
Dr Roth’s experience reflects the transformative potential of
Sherpath AI: “I love it. I absolutely love it. It made it so much easier
for me to be able to do my job a lot faster and more efficiently,
because I knew that the questions were good.”
By combining world-class educational content with advanced
AI technology, Sherpath AI helps educators safeguard exam
integrity, nurture critical thinking, and empower students to
take charge of their learning.
I love it. I absolutely love it.
It’s been a lifesaver, honestly.
Dr Vanessa Roth
Foundations Instructor, St. Johns River State College
73,000+
Sherpath AI was used by over 73,000
nursing students in the US in 2025
Sherpath AI
Elevating nursing education with an adaptive digital
and conversational tool
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
22
RELX
Annual Report 2025 | Market segments
Business overview
Legal helps its customers improve decision-making, achieve
better outcomes and increase productivity by providing tools
that combine legal, regulatory and business information with
powerful analytics.
LexisNexis Legal & Professional is headquartered in New York
and has further principal operations in Dayton, Raleigh, and
Toronto in North America, London and Paris in Europe, and cities
in several other countries in Africa and Asia Pacific. It has
11,900 employees worldwide and serves customers in almost
150 countries and territories.
Revenues for the year ended 31 December 2025 were £1,806m,
compared with £1,718m in 2024 and £1,655m in 2023. In 2025,
68% of revenue came from North America, 22% from Europe,
and the remaining 10% from the rest of the world. Subscription
represented 85% of revenue and transactional revenues
represented 15%.
LexisNexis Legal & Professional is organised in market-facing
groups, focused on Law Firms & Corporate Legal, Government &
Academic, and News & Business markets. Content and tools are
tailored to the specific geographic markets served, supported by
global shared services organisations providing platform and
product development, operational and distribution services,
and other support functions.
Law Firms & Corporate Legal
, representing around 70% of
revenue, provides legal professionals across law firms and
corporate legal departments with electronic reference, decision
tools, and analytics to help make better informed decisions in the
practice of law.
Standard products for legal research and analytics include Lexis,
Lexis+, and Lexis+ AI, which provide statutes and case law
combined with analysis and expert commentaries from secondary
sources, such as Matthew Bender, and incorporate the leading
citation service, Shepard’s, advising on the continuing relevance
of case law precedents.
Lexis+ AI was introduced in the US in 2023 and is a generative AI
platform designed to transform legal work. It is built and trained
on one of the world’s largest repositories of accurate and
exclusive legal content, leveraging an extensive collection of
documents and records to provide customers with trusted,
comprehensive legal results with unmatched speed and precision
and backed by verifiable, citable authority. The new Lexis+ AI
technology features conversational search, insightful
summarisation, uploaded document analysis, and intelligent
legal drafting capabilities, all supported by state-of-the-art
encryption and privacy technology to keep sensitive data secure.
In slightly over two years since the launch of Lexis+ AI, we have
gained widespread adoption of the platform – over half of all US
new and renewing customers are adopting Lexis+ AI. In 2025,
Lexis+AI delivered answers to over five million prompts in the
US alone.
LexisNexis Protégé, a new personalised AI Assistant in Lexis+ AI,
was launched in Q1 2025. Protégé is an AI feature of LexisNexis
that integrates with legal document management systems to
deliver uniquely personalised work product in a private, secure
setting. In 2025, Protégé expanded globally across key LexisNexis
markets in the US, Asia-Pacific, Europe, and Africa – and was
integrated into several products in the LexisNexis portfolio.
We help lawyers win cases, manage
their work more efficiently, serve their
clients better, and grow their practices
by deploying advanced analytics and
latest, cutting-edge technology,
including artificial intelligence.
We assist corporations in better
understanding their markets and
monitoring relevant news. We partner
with leading global associations and
customers to help advance the Rule of
Law across the world.
Legal
23
RELX
Annual Report 2025 | Legal
Lexis Create+ is an AI-powered personalised legal drafting tool
that helps users build comprehensive legal drafts right within the
Microsoft Word environment. The drafting, analysis and strategy
can be enhanced with direct integration into customer document
management systems. Lexis Create+ launched in multiple
LexisNexis markets in 2025.
Lexis+ is the core online research platform and is being rolled
out in additional countries and enhanced in existing countries.
New geographical roll-outs in 2025 included France and China.
In existing markets, content and product enhancements
improved our offerings. 2025 enhancements in the UK and
Canada expanded practice areas, added legislative tracking,
and improved customer access.
In 2025, LexisNexis continued to broaden the reach of its decision
tools and analytics through Lex Machina. Litigation Analytics on
Lexis+ AI helps users analyse courts, judges, attorneys, and law
firms. In July of 2025, Lex Machina rolled out a new Party Analytics
feature, offering practitioners even more valuable insights and
more exposure to Lex Machina’s industry-leading analytics
capabilities. Lex Machina also launched a Protégé integration,
enabling customers to enter a question, statement, or prompt
and receive an output of suggested analytics tailored to their
case needs, ensuring fast, data-backed legal insights.
LexisNexis expanded legal news coverage with Law360 in 2025,
publishing over 60,000 news and analysis articles and growing
its readership by over 10%. It also expanded global legal news
coverage with the launch of Law360 Criminal Practice section
covering the full spectrum of criminal law developments. From
a product standpoint, Law360 added new features including
customised news recommendations and enhanced pulse
leaderboard analytics allowing firms to compare themselves
to peers.
In the Intellectual Property (IP) analytics space, a Protégé
integration was launched within the PatentSight+ platform,
enabling users to ask questions in plain language and receive fast,
structured, visual answers drawn from global patent data and
scientifically validated metrics.
LexisNexis Regulatory Compliance is positioned to support our
clients in key regions globally, including the US and UK, assisting
them in maintaining compliance registers across numerous
topics including cybersecurity, banking, gambling and more. The
continuously expanding content portfolio is focusing on key legal
obligations content in highly regulated industries and areas of law.
LexisNexis also supplies software solutions for legal spend
management, matter management, and client engagement.
CounselLink+, a fully integrated Enterprise Legal Management
and Contract Lifecycle Management platform, features
interconnectivity to the LexisNexis portfolio, Practical Guidance
templates within the Contract module, and Ask Legal on Microsoft
Teams. In 2025, CounselLink+ launched a Protégé integration
which can provide matter and invoice summarization and
generate actionable insights. InterAction+, LexisNexis’s legal
Customer Relationship Management platform, continued building
cloud capabilities to enable customer migration.
In 2025, LexisNexis continued to pursue inorganic growth
opportunities and expand its integrations across the global legal
ecosystem. In June 2025, LexisNexis agreed a strategic alliance
with Harvey, an AI platform for legal and professional services,
whereby LexisNexis will integrate its Lexis+ AI capabilities
(powered by LexisNexis content) within the Harvey platform,
further advancing LexisNexis’s strategy of meeting customers
where they work. The alliance also envisages the joint
development of advanced legal workflows and potential expansion
to other regions outside the US.
Lexis+ AI is a generative AI platform designed to
transform legal work through enhanced search,
summarisation and drafting capabilities
Lexis+ is a legal analytics ecosystem that uses
AI and superior search technology to deliver
legal research and news, data-driven insights,
and practical guidance seamlessly into
legal workflows
LexisNexis Protégé is a personalised AI
assistant that reduces repetitive tasks, tackles
complex analyses, and delivers exceptional
work for legal and business professionals
Lex Machina provides Legal Analytics to
law firms and companies, enabling them to
craft successful strategies, win cases,
and close business
CounselLink+ is an award-winning Enterprise
Legal Management (ELM) solution designed for
corporate legal departments, offering enhanced
matter management, legal spend control,
contract lifecycle management and AI-powered
insights to drive efficiency, transparency, and
strategic decision-making
Nexis provides access to an expansive collection
of news, company, legal, and regulatory data
necessary to make smart business decisions
For more information
visit relx.com
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
24
RELX
Annual Report 2025 | Market segments
Geography
Type
Transactional
15%
Subscription
85%
Rest of world
10%
Europe
22%
North America
68%
dexterity and use leading legal analytics tools to tackle complex
research, deliver quality drafts, and track key issues in the
practice of law. In partnership with law schools, LexisNexis
also plays a pivotal role in preparing students to navigate AI in
professional legal environments. Notably, over 25% of student
queries on Lexis+ are made through Protégé which holds a
significant preference advantage over competing AI solutions.
News & Business standard products for business research are
Nexis and Nexis+ AI, which provide access to over 40,000 licensed
sources, including a 45-year news archive across over 50 different
languages. Other core products include Nexis Newsdesk for
media monitoring, and Nexis Diligence+ for risk assessments.
Nexis+ AI, a generative AI platform designed to transform
business research, was launched in 2024 and has continued to
evolve over the course of 2025. The platform enables users to
generate cited, multi-source answers to research questions,
explore LexisNexis news and company data through intuitive
Company Profiles, create time-saving summaries of articles,
filings, analyst reports, and more. With these enhancements,
corporations can now streamline research, uncover insights
faster, and gain a competitive edge.
Market opportunities
Longer-term growth in legal and regulatory markets worldwide is
driven by increasing levels of legislation, regulation, regulatory
complexity and litigation, and an increasing number of lawyers.
Additional market opportunities are presented by the advent of
generative AI and increasing demand for online information
solutions, legal analytics, and other solutions, along with decision
support solutions that improve the quality and productivity of
research, deliver better legal outcomes, and improve business
performance. Notwithstanding this, legal activity and legal
information markets are also influenced by economic conditions
and corporate activity.
Strategic priorities
LexisNexis Legal & Professional’s strategic goal is to enable
better legal outcomes and be the leading provider of workflow and
productivity enhancing information, analytics, and information-
based decision tools in its market. To achieve this, LexisNexis is
focused on introducing next-generation products and solutions on
the Lexis platform and infrastructure; incorporating advanced
technologies including generative AI; embedding LexisNexis
products within hundreds of customer workflows; driving
long-term international growth; and upgrading operational
infrastructure, improving process efficiency, and gradually
improving margins.
LexisNexis is also continuing its mission to advance the Rule of
Law around the world through the efforts of the LexisNexis Rule of
Law Foundation, a non-profit entity that conducts projects globally
to promote transparency of the law, access to legal remedy,
equal treatment under the law, and independent judiciaries.
The Legal mission to advance the Rule of Law globally has
continued to benefit the 5.1bn people who are outside of the
umbrella protections of the Rule of Law. LexisNexis Rule of Law
Foundation, along with the LexisNexis commercial teams, have
contributed to projects to give accurate, quick, and fair answers
to justice needs. These projects include utilising AI in a judgement
writing tool for members of the Ugandan Judiciary; building
and launching, with RELX and LexisNexis South Africa, a tax
transparency tool for Ethiopia; training to introduce Afghani
refugee lawyers to online research tools familiarising them
with the technology and methodologies used in US law schools;
chairing a panel on the future of Rule of Law in 20 years’ time;
providing guidance to professionals on how AI will shape the
justice system; and donating access to LexisNexis products for
non-profit supporting organisations to reduce emissions and,
separately, to assist special prosecutors to build human rights
cases in the Gambia.
Government & Academic and News & Business,
representing
around 30% of revenue, serves customers across government
organisations and law schools as well as providing customers
across industries with news and business information and
insights, including company information and US Public Records.
In Government, LexisNexis legal research and analytics tools
empower legal professionals across major US federal agencies
and state and local government in upholding the Rule of Law.
Products such as Lexis+, Lexis+ AI and Practical Guidance enable
efficient research, while CaseMap helps manage and collaborate
on legal cases. LexisNexis Reed Tech also provides patent data
and document management services to the US Patent and
Trademark Office, with over 50 years of partnership.
In 2025, LexisNexis set a new standard by becoming the first legal
research platform to reach FedRAMP Ready status with Lexis+
for Government, underscoring our commitment to security and
compliance in serving US federal and State agencies.
In Academic markets, LexisNexis actively engages with law
school users with a focus on product features and research
methods, reaching faculty and students across over 210 US law
schools in 2025. Through national marketing and in-person
programmes, LexisNexis helps students and faculty build search
2025 Revenue £1,806m
25
RELX
Annual Report 2025 | Legal
Further improvement in underlying revenue growth driven
by AI-enabled legal analytics and tools
Underlying revenue growth of +9%, a further step up in growth
from 2024. Strong growth continues to be driven by the shift in
business mix towards higher growth, higher value legal
analytics and tools.
Underlying adjusted operating profit growth of +12%, leading to
a further improvement in adjusted operating margin.
In Law Firms & Corporate Legal, double-digit growth is being
driven by the continued adoption of our core AI-enabled legal
research and analytics platform and our integrated agentic
legal assistant (Lexis+ AI and Protégé).
Ongoing releases of
new functionality, including General AI and Workflows, and
deeper integration of our tools on our core platform with its
comprehensive, verified legal content, is enabling us to increase
our value-add and serve an increasing number of use cases.
In Government & Academic and News & Business, good growth
continues to be driven by the further extension of analytics and
decision tools.
Renewals and new sales are strong across all key segments.
2026 outlook
We expect continued strong underlying revenue growth with
underlying adjusted operating profit growth exceeding
underlying revenue growth.
2025 financial performance
Restated
2024
GBPm
2025
GBPm
Change
in GBP
Change at
constant
currency
Underlying
growth
Revenue
1,718
1,806
+5%
+8%
+9%
Adjusted operating profit
381
415
+9%
+11%
+12%
Revenue
2025
1,806
1,718
2024
GBPm
Underlying growth
+9%
Adjusted operating profit
381
Underlying growth
+12%
GBPm
2025
2024
415
Across segments, LexisNexis is focused on the ongoing
development of advanced legal research and practice solutions
that help lawyers make data-driven decisions with greater
accuracy and efficiency. Global functions and presence enable
LexisNexis to effectively launch and scale products such as Lexis+
AI across segments, leveraging shared assets from product
design to back-end functionality.
Business model, distribution channels and competition
LexisNexis Legal & Professional products and services
are generally sold directly to law firms and to corporate,
government and academic customers on a paid subscription
basis, with subscriptions often under multi-year contracts.
Some LexisNexis research and reference content is sold in a print
format. From 2025, print and print-related activities are managed
and reported separately.
Principal competitors for LexisNexis in US legal markets are
Westlaw (Thomson Reuters), CCH (Wolters Kluwer), and
Bloomberg. In news and business information, key competitors
are Bloomberg, Factiva (News Corporation) and Reuters News
(Thomson Reuters).
Significant international competitors include Thomson Reuters,
Wolters Kluwer and Factiva.
2024 results restated to reflect business area reporting changes
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
26
RELX
Annual Report 2025 | Market segments
10%
Rupp Pfalzgraf increased its average caseload per attorney
by 10% since adopting Lexis+ AI.
Lexis+ AI has revolutionised how we work. We’re more
efficient, more competitive, and more prepared than
ever. This isn’t just a tool for today – it’s a foundation for
the future.
R. Anthony Rupp III
Founding Partner
About Lexis+ AI
Lexis+ AI is a generative AI solution designed to transform
legal work. It enables conversational legal research, insightful
summarisation, intelligent legal drafting, and document upload
and analysis capabilities. Answers are grounded in LexisNexis
proprietary legal content and enhanced by Shepard’s Knowledge
Graph, ensuring reliability and completeness. Lexis+ AI is backed
by world-class encryption and data privacy technology.
About Rupp Pfalzgraf
Rupp Pfalzgraf is a full-service law firm based in Buffalo,
New York. Founded in 2000 by three entrepreneurial attorneys,
the firm has grown into a forward-thinking practice serving a
broad range of clients. Known for its innovation, Rupp Pfalzgraf
continuously adopts cutting-edge legal technology to deliver
high-quality services with a client-first focus. The firm has
always prioritised innovation, leveraging technology to enhance
service delivery and maintain a competitive edge.
Legal research, one of the most time-
consuming aspects of practice, posed a
bottleneck – especially when managing
high-volume or complex matters. The
leadership team recognised the need for
AI-powered tools to streamline workflows,
improve accuracy, and enable attorneys to
respond more efficiently.
In 2023, the firm adopted Lexis+ AI to optimise its research and
drafting workflows. Unlike other AI tools, Lexis+ AI met Rupp
Pfalzgraf’s high standards for data security and reliability. The
firm was particularly drawn to the ability to delete user inputs,
which aligned with internal values and privacy policies.
The adoption process was structured and seamless, beginning
with pilot programmes for a select group of attorneys and
eventually expanding across the firm. The results were
transformative. Attorneys now complete complex legal
research in a fraction of the time, with significantly improved
accuracy and confidence. For example, tasks such as drafting
third-party insurance coverage opinions that previously took
up to nine hours now take just two and a half hours.
Lexis+ AI
How Rupp Pfalzgraf increased case capacity while enhancing
service quality, using LexisNexis Legal & Professional’s fully
integrated next generation legal assistant
The impact of Lexis+ AI extended to litigation preparation, oral
arguments, motions drafting and workplace investigations.
Attorneys have reported completing federal court motions
in one-quarter of the original time. The ability to extract,
summarise and compare information quickly has enhanced
both strategic planning and client communication.
Notably, Lexis+ AI has also helped attorneys branch into new
practice areas with confidence. In one instance, a lawyer
unfamiliar with vaccine waiver laws for school districts was
able to deliver accurate results and win the case – something
previously outside their scope.
Rupp Pfalzgraf has embraced Lexis+ AI not just as a tool, but as
a catalyst for cultural change and future growth. The firm now
trains paralegals and clerks to leverage AI in meaningful ways,
expanding capacity across roles.
27
RELX
Annual Report 2025 | Legal
About LexisNexis Protégé
Protégé is an advanced AI assistant designed to enhance
productivity, improve work quality, and help legal and business
professionals unlock new economic value. Protégé marks
a transformative change, allowing users to customise the
assistant to their roles, practice areas, jurisdictions, and styles.
For example, Protégé combines agentic AI with authoritative
content to draft, research and review legal work across litigation,
judicial and transactional workflows, acting like a junior
associate, a law clerk or a drafting assistant, depending on the
user’s role.
Unlike traditional generative AI, Protégé uses agentic AI
technology to navigate complex workflows, break down tasks,
collaborate with the user and review its own work before human
review. Protégé can dynamically suggest or execute next steps
based on user goals, either autonomously or with user guidance.
Protégé is developed with a human in the loop and adheres to the
highest standards of security, compliance and privacy.
LexisNexis Legal & Professional began
experimenting with agentic AI in 2023 and was
among the first to introduce a legal agentic AI
solution with Protégé in January 2025.
Protégé builds on a decade of LexisNexis investment in AI
technologies, robust tools and proprietary content, including
more than $1bn in technology spend. The technology platform
seamlessly integrates the latest AI advancements within a
multi-cloud infrastructure and provides a proprietary framework
for developing legal-tuned agents grounded in LexisNexis
comprehensive, authoritative and enriched legal content.
Agentic systems require robust tools to execute tasks. Protégé
agents leverage the company’s trusted tools including semantic
search, Shepard’s citation validation, caselaw summarisation
and a knowledge graph that interlinks authoritative datasets for
highly relevant, trustworthy AI responses.
LexisNexis AI development combines a multi-model approach
that selects the best model for each customer use case, model
fine-tuning alongside expert legal professionals and model
distillation for high model performance.
Flexible and Adaptable Agentic Framework
In agentic frameworks, models can reason through a series of
steps and use tools to complete workflows. In Protégé, some
workflows are completed autonomously by the agent, while
others involve human-AI collaboration, where user input guides
the agent’s behaviour. The proprietary LexisNexis agentic AI
framework is designed to be adaptable, allowing AI agents to be
tailored to a legal professional’s workflow.
LexisNexis continues to develop this framework, balancing
automation with transparency and user control, enabling users
to see the model’s reasoning and guide its behaviour.
1,000
LexisNexis conducts over 1,000 customer discovery
interactions each week. These insights directly shape
the products our customers use.
LexisNexis Protégé
LexisNexis Legal & Professional’s fully integrated
next generation legal assistant
Agentic performance depends on authoritative content,
firm knowledge, orchestration and governance.
Uniquely, we combine all four. LexisNexis has the
industry’s most trusted content, customer content
integration, mature workflow connectors and
enterprise controls. Protégé is a step-change from
answers to outcomes, significantly expanding
productivity for customers.
Sean Fitzpatrick
CEO LexisNexis North America, UK and Ireland
Legal-Tuned AI Agents
Protégé leverages a diverse set of AI agents within this framework.
Some function as adaptable generalists, for broad tasks such as
analysing customer data or conducting web searches, others
operate as specialists for reviewing contracts or answering
legal questions. By integrating these agents into multi-agent
workflows, Protégé can dynamically manage complex legal work
while delivering more accurate and highly personalised results.
Expansion
Protégé is designed to integrate seamlessly into the existing
workflows of professionals. It is available across the LexisNexis
suite of products, including Lexis+ AI, Lexis Create+, Lex Machina,
PatentSight+ and CounselLink+, as well as in the broader market
ecosystem, including highly used products such as Microsoft
Word and Teams.
Protégé is available across multiple regions including the US, the
UK, Canada and France. It follows the global roll out of Lexis+ AI
in 2024. Both Protégé and Lexis+ AI have been among the
fastest-adopted products in the company’s history.
LexisNexis is expanding Protégé with General AI, giving users a
single search experience that unifies insights from open web
search, proprietary LexisNexis content, and customers’ own
documents. As LexisNexis continues to adopt new technologies
and refine its agile processes, the velocity of innovation, product
development and rollouts is accelerating. The company applies
the principle of extreme re-use, shortening the rollout cycles
from years to weeks.
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
28
RELX
Annual Report 2025 | Market segments
Business overview
Exhibitions combines industry expertise, digital tools, and data
to help customers connect in-person and online, discover new
markets, source products, generate leads, and transact.
RX has its headquarters in London and has further principal
offices in Paris and Düsseldorf in Europe, Norwalk (Connecticut),
Mexico City and São Paulo in the Americas, Beijing, Shanghai,
Tokyo and Singapore in Asia, and Sydney, Australia. RX has
3,400 employees worldwide and its portfolio of events serves
41 industry sectors.
Revenues for the year ended 31 December 2025 were £1,186m
compared with £1,239m in 2024 and £1,115m in 2023. In 2025,
20% of RX’s revenue came from North America, 36% from Europe
and the remaining 44% from the rest of the world on an event
location basis.
Six million participants welcomed the opportunity to build their
businesses at RX face-to-face events. RX ran 274 face-to-face
events across 41 industry sectors in 25 countries.
RX organises influential events in key global markets, each
designed to address the specific needs of each industry.
Participants from around the world meet in-person to learn,
network, source products or leads, and trade. RX’s portfolio spans
a broad range of sectors, including travel, chemical ingredients,
renewable energy, life sciences and pharmaceuticals, real estate,
construction, advanced materials, electronic manufacturing,
advanced manufacturing, data analytics, AI & cybersecurity,
transport, jewellery, gifts, comic conventions, physical security,
media, and fitness. RX makes selective launches to increase
presence in attractive sectors (such as Expo Nacional Ferretera
for the hardware and home improvement industry, Mexico) and to
extend successful value propositions into new markets (such as
FIBO expanding into Saudi Arabia).
In 2025, RX extended the continuous improvement, range and
depth of digital and data products offered, increasing their
sophistication and the value delivered to customers. These
products gave buyers and sellers increasingly valuable ways to
achieve their objectives before, during, and after an event. These
products provide new insights for customers and event teams
into customers’ activity, performance, and results at its events,
helping drive their decision-making. RX’s digital platform enables
rapid experimentation and learning by testing new features and
products and handing the outcomes of these tests from one event
to the next. Digital products grew in 2025 with electronic revenue
accounting for 8% of revenue.
Exhibitions
We help customers build their
businesses through face-to-face
events and digital tools, enabling
innovation and supporting the
economic development of local
markets and national economies
around the world.
RELX
Annual Report 2025 | Exhibitions
29
Market opportunities
RX is positioned well for further growth in face-to-face events.
This growth will be complemented by rising adoption of –
and revenue from – data, digital tools, and platforms, both
stand-alone and as part of multi-channel events. These events
and digital tools are a key lever for RX customers’ businesses
and national economies to expand.
Growth in the exhibitions market is influenced by business-to-
business marketing spend and by business investment.
Historically, these have been driven by levels of corporate
profitability, which in turn has followed overall growth in gross
domestic product. Emerging markets and higher growth sectors
provide additional opportunities. RX’s broad geographical
footprint and sector coverage allow it to respond effectively to
changes in global trade and capture growth opportunities as they
emerge. Not all events are held annually and so growth in any
one year is affected by the cycle of non-annual exhibitions.
Strategic priorities
RX’s long-term strategic goal is to provide discernible and
improving value to buyers and sellers by connecting them to build
their businesses, through a mixture of learning, networking,
sourcing products or leads, and completing deals. We deliver this
value through a range of market-leading events, digital tools and
platforms in all major geographic markets and higher growth
sectors. This allows exhibitors to target and reach new customers
quickly and cost-effectively, under one roof and with an integrated
set of digital tools, resulting in measurably higher value and
improved outcomes. RX focuses on five main areas that position
it for long-term success.
Customer value:
RX constantly looks for ways to increase the
value generated for customers, by innovating the offering and
format of its events, continuously evolving every event to the most
attractive segments in the industry, and by deploying digital and
data tools and platforms to enhance and extend the in-person
experience.
Portfolio development:
RX actively shapes its portfolio through
a combination of new launches, strategic partnerships and
selective acquisitions and disposals, targeting the optimal mix
of industry segments, geographic segments, value propositions
and business models.
Best in class go-to-market capabilities:
RX continues to drive
innovative capabilities in all areas critical to its performance,
including sales techniques and the use of analytics to generate
insights both for RX and its customers. RX is enhancing its
marketing efforts through the appointment of a Chief Marketing
Officer and the adoption of AI and social listening technologies, to
continuously attract the most valuable visitors and exhibitors to its
events. RX is also increasing its pricing sophistication, including
for a wider range of visitor segments to reflect the value they gain
from attending an exhibition.
Operational efficiency:
RX operates a lean and agile structure,
able to respond quickly to changing circumstances and customer
needs. RX’s global technology platforms and more specialist
functions allow RX to accelerate revenue growth, while
controlling costs and embedding sustainability throughout the
organisation. RX is improving the effectiveness and efficiency of
these platforms and functions by utilising GenAI tools, in turn
enabling faster deployment of digital products, new events
and process innovation. RX is progressing well towards its
sustainability goals; in 2025 RX published its first Sustainability
Report and began to roll out a sustainability scorecard to help
event teams assess and improve their performance.
Talent:
RX develops talent by building strategically important
capabilities and cultivating communities that collaborate to learn
and share innovation and best practice. This is underpinned by a
strong organisational culture of customer focus, entrepreneurial
thinking, ambition and growth mindset.
RX continually enhances the value of its face-to-face events
using data, analytics, and technology. RX’s digital solutions help
customers to better promote their presence at events, create
more connections between the right buyers and sellers, increase
the value of leads generated, and follow up on the most promising
leads after the event, thereby demonstrably increasing the return
on investment of customer spend at RX events. RX’s digital
solutions constantly evolve based on data and deep customer
insight about the needs and behaviours of buyers and sellers in the
different sectors in which it operates. RX has built a unified global
technology platform and single data lake, enabling near real-time
insights and faster global rollout of high-quality digital services.
In 2025 this included scaling up Colleqt (the visitor-led tool
capturing leads and information digitally instead of via business
cards, bags, and brochures) in France and Japan.
Business model, distribution channels and competition
Over 70% of RX’s revenue is derived from exhibitor fees,
with the balance primarily consisting of admission charges,
conference fees, sponsorship fees and digital tools. RX often
works in collaboration with trade associations, which use the
events to promote access for members to domestic and export
markets, and with governments, for which events can provide
important support to stimulate foreign investment and promote
regional and national economic activity. RX increasingly offers
visitors and exhibitors the opportunity to interact before and
after the show using digital tools and platforms such as online
directories, matchmaking, and mobile apps. RX is more actively
shaping the exhibitor and visitor experience during the show,
using digital tools and real-time recommendations.
RX is one of the largest event organisers globally in a fragmented
industry, holding a global market share of less than 10%. Other
international exhibition organisers include Informa, Clarion and
the larger German Messen, including Messe Frankfurt, Messe
Düsseldorf and Messe Munich. Competition also comes from
industry trade associations and owners of event venues.
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
30
RELX
Annual Report 2025 | Market segments
Geography
Source
Rest of world
44%
Europe
36%
North America
20%
Visitors and other
26%
Exhibitors
74%
Location:
France
The world’s property market
Location:
UK
Premier global event
for the travel industry
Location:
UAE
The Middle East’s meeting
place for the travel trade
Location:
US
The North American
jewellery industry’s
premier event
Location:
US
International Security
Conference & Exhibition
Location:
Germany
Innovations for smart sheet
metal working
Location:
France
International exhibition for
personal care ingredients
Location:
Italy
International exhibition for
companies in the industry of
HVAC+R, renewable energy
and energy efficiency
Location:
Japan
Japan’s comprehensive
exhibition for smart and
renewable energy
Location:
US
The East Coast’s largest
pop culture convention
Location:
China
One of the largest business
gifts & home fairs in China
Location:
Germany
International trade show for
fitness, wellness & health
Location:
Brazil
International trade fair for
the building industry
Location:
Netherlands
The world’s dedicated
hydrogen event
Location:
Australia
Australia’s clean energy
event
Location:
France
Europe’s premier in-water
boat fair
Location:
Japan
Asia’s Exhibition for
Electronics R&D,
Manufacturing and
Packaging Technology
Location:
Japan
Japan’s one-stop shop for
office related products
and services
Location:
China
China’s event for suppliers
and buyers in the
housewares industry
Location:
Korea
International maritime and
energy exhibition
Location:
Japan
Japan’s comprehensive
IT exhibition
Location:
Germany
The world’s marketplace for
airlines and the supply chain
to meet
Location:
Brazil
International auto parts,
equipment and services
tradeshow
Location:
France
The International Luxury
Travel Market
2025 Revenue £1,186m
For more information
visit relx.com
RELX
Annual Report 2025 | Exhibitions
31
Revenue
2025
1,239
2024
Underlying growth
+8%
GBPm
1,186
Adjusted operating profit
410
398
GBPm
2025
2024
Underlying growth
+9%
Strong underlying revenue growth and profitability
improvement
Underlying revenue growth of +8%, reflecting the improved
ongoing growth profile of our event portfolio. Reported revenue
includes the effects of prior year disposals and event cycling.
Underlying adjusted operating profit growth of +9%, as we
continue to manage underlying cost growth below underlying
revenue growth, with margins now significantly above
historical levels.
We continue to make good progress on value-enhancing
digital initiatives, with increased usage of our growing range
of digital tools for both exhibitors and attendees at our
face-to-face events.
2026 outlook
We expect continued strong underlying revenue growth with
an improvement in adjusted operating margin over the prior
full year.
2025 financial performance
2024
GBPm
2025
GBPm
Change
in GBP
Change at
constant
currency
Underlying
growth
Revenue
1,239
1,186
-4%
-2%*
+8%
Adjusted operating profit
398
410
+3%
+7%
+9%
* includes cycling effects of -5%
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
32
RELX
Annual Report 2025 | Market segments
x2
Customer usage of the Exhibitor Dashboard has more than
doubled in two years, with 66% of exhibitors now actively
engaging, compared with 28% in 2023.
It’s the easiest way to quantify what you have from the
show. The event is a big investment for us; we’ve got to
be smart and better prepared. Using the data in our
event planning is key to having a successful result.
David Cho
Head of Strategy, Noon Shop, Vision Expo Exhibitor
About Exhibitor Dashboard
Exhibitor Dashboard is RX’s response to its customers’ need for
transparent event data which quantifies the business value RX
delivers. Built in-house by RX, Exhibitor Dashboard seamlessly
integrates data from the company’s registration, matchmaking,
show directory and lead retrieval systems into one clear and
simple to use personal dashboard, so exhibitors can assess their
trade show performance in real-time, and gain critical insights
to improve their return on investment year-on-year.
In an economic environment that demands
accountability, exhibitors are under growing
pressure to justify their investment in trade
shows. They’re not just looking for visibility.
They want to see the business impact:
concrete, actionable proof that events
drive value.
Exhibitor Dashboard was built from the ground up, by listening
closely to our customers and then working cross-functionally
across our Customer Success, Data, Customer Insights,
Digital, Sales, Show, and IT teams. One of the key challenges it
overcomes is bridging the gap between exhibitors’ expectations
and what they can tangibly measure after the event. Too often,
important signals like quality of leads or depth of visitor
engagement were getting lost in the buzz of the show.
The Dashboard gives exhibitors clear and reliable insights into
the value of their event participation by replacing guesswork
with objective, real-time data and analytics. It brings together all
their key event metrics in one place, including leads collected
at the show, profile views, digital engagement and how many
matchmaking recommendations were made based on attendee
registration preferences.
From 12 weeks out, exhibitors can see how their brand is
performing, who is engaging and where interest is building,
helping them optimise their stand displays and tailor their
messaging to customer needs. The dashboard surfaces
valuable data such as company location and industry focus.
It reveals how exhibitors are faring against competitors in their
category. And it gives them actionable insights to improve
customer engagement and lead generation before and during
the show.
Exhibitor Dashboard
Turning event data into informed decisions
After the event, they can use their lead data and analytics to
prioritise their most promising prospects for follow-up, measure
their return on investment and provide clear evidence of the value
their participation delivered.
By diving into the data, exhibitors gain a deep understanding of
their target audience’s preferences and behaviour. Armed with
this knowledge, they can refine their strategies, tailor their
offerings and deliver a more engaging experience, driving
stronger customer connections and boosting conversions at
their next event.
RELX
Annual Report 2025 | Exhibitions
33
140,724
Over four days at FIBO 2025, 140,724 visitors passed
through the TQG hall, underlining the extraordinary
reach and appeal of the activation.
Bringing this project to life means far more than
delivering an event – it is about living our values
in every detail, uniting visions from across the
company, and creating something greater than the
sum of its parts.
Above all, it is our way of honouring our communities,
listening to and fulfilling their needs, reminding us
why we do what we do and how powerful it can be
when people come together with a shared purpose.
Hannah Kloft
Head of Event & Sponsoring, The Quality Group
About FIBO
FIBO is the world-leading business and consumer event for
fitness, wellness and health, taking place each year in Cologne,
Germany. The 2025 event in April connected 992 exhibitors and
partners with 154,890 business professionals and fitness fans,
setting new records for the event’s 40th anniversary year. In
October 2025, FIBO extended its brand into Saudi Arabia with
the debut of FIBO Arabia in Riyadh.
Home to the powerhouse brands ESN and
More Nutrition, German-based The Quality
Group (TQG), is a leading sports nutrition and
dietary supplements holding company with
annual sales of more than €800m in 2024.
In 2024, after several years of prioritising e-commerce and
hosting its own branded events, TQG decided it was the right
moment to return to FIBO. From the outset, the company made it
clear that a standard booth would not meet its brand ambitions.
The group was looking for something unique.
FIBO delivered with one of the show’s most electrifying
consumer activations in its 40 years – an immersive ‘event within
an event’ concept combining the brand freedom and impact of
ESN and More Nutrition’s own events with the global reach and
diverse audience FIBO provides.
The vision came to life in the form of a self-contained 8,000 square
metre TQG hall within FIBO, complete with its own entrances,
staging, sampling areas, athlete and influencer meet ups,
and interactive fitness challenges. The scale of the activation
required close collaboration between the FIBO and TQG teams,
from operations and logistics to digital communications. Crowd
management tools were deployed in partnership with the venue
to ensure visitor flow and safety, while a dedicated landing page
on fibo.com and coordinated social media campaigns extended
engagement beyond the show floor.
So successful was the partnership, that TQG returned in 2025
with an even larger footprint of more than 9,000 sq m. The
expanded concept introduced new elements: a targeted
business-to-business programme for retailers, content-driven
formats to educate consumers, activations across additional
sports disciplines such as Mixed Martial Arts, and entertainment
zones including a silent disco. ESN also took the role of headline
sponsor for the first FIBO Bodybuilding Championship,
further reinforcing its leadership in the sector.
At FIBO 2025, nine out of ten attendees visited the TQG hall.
The partnership not only showcased TQG’s brands but also
created a powerful ripple effect – driving visibility, engagement,
and impact across the entire event.
FIBO
Creating a branded event for The Quality Group within FIBO
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
34
RELX
Annual Report 2025
In this section
35
Corporate responsibility overview
38
Our unique contributions
42
Corporate responsibility governance
46
Customers
49
People
52
Community
56
Supply chain
59
Environment
Corporate
responsibility
Contact details
Your views are important to us.
Please send your comments to:
Or write to:
Dr Márcia Balisciano
Chief Sustainability Officer and Global Head of Corporate Responsibility
RELX
1–3 Strand
London
WC2N 5JR
United Kingdom
For more information, visit:
www.relx.com/corporateresponsibility
This report contains the RELX PLC Non-Financial and Sustainability
Information Statement for the purposes of Section 414CA and 414CB of
the Companies Act 2006.
35
RELX
Annual Report 2025 | Introduction
Financial statements
and other information
Governance
Financial review
Corporate responsibility
Market segments
Overview
Corporate responsibility overview
We pursue robust governance of CR issues for which the CEO is
responsible to the Board. Our business area and functional
leaders are accountable for CR performance, supported by clear
objective setting, CR Forum monitoring and engagement from
over 5,300 colleagues in our internal CR networks.
Corporate responsibility begins with the purpose of the company.
RELX is a global provider of information-based analytics and
decision tools for professional and business customers,
enabling them to make better decisions, get better results and
be more productive.
Our purpose is to benefit society by developing products that help
researchers advance scientific knowledge; doctors and nurses
improve the lives of patients; lawyers promote the rule of law and
achieve justice and fair results for their clients; businesses and
governments prevent fraud; consumers access financial services
and get fair prices on insurance; and customers learn about
markets, and complete transactions.
Our purpose guides our actions beyond the products that we
develop. It defines us as a company. Across RELX our employees
are inspired to undertake initiatives that make unique
contributions to society and the communities in which we operate.
We act with high ethical standards, while using our strengths to
make a positive impact on society. To us, Corporate Responsibility
(CR) is not a programme or prescriptive set of activities, it is how
we conduct ourselves and our business on a daily basis. It is the
responsibility of everyone at RELX.
Our focus on CR gives us a long-term sustainable, competitive
advantage. It inspires confidence in our stakeholders, and
provides a licence to operate in the communities in which we live
and work. It underpins our business strategy to deliver improved
outcomes for our customers by combining leading content and
data sets with advanced technologies. It helps us build leading
positions in long-term global growth markets and leverage our
skills and assets.
We align the objectives we set for our unique contributions, and for
key areas that impact all companies such as governance, people,
customers, community, supply chain and environment with the
United Nations Sustainable Development Goals (SDGs) to support
the achievement of these 17 global goals by 2030.
We believe in timely, comprehensive reporting. Key non-financial
metrics, including for environment, people, community and supply
chain are independently assured. CR is an integral part of the
statements of the Chair, CEO and CFO (see pages 3, 4, and 66).
RELX’s Sustainability Statement has been prepared in accordance
with the European Union Corporate Sustainability Reporting
Directive (CSRD) and the European Sustainability Reporting
Standards (ESRS) as adopted by the European Commission
(see pages 208-231).
Corporate responsibility is not an activity.
It is embedded in our values and in how
we operate as a company. It is integral
to our performance and the long-term
sustainability of the business.
Dr Márcia Balisciano
Global Head of Corporate Responsibility, RELX
Commitment to the United Nations Global Compact
The United Nations Global Compact (UNGC) links
businesses around the world with UN agencies, labour and
civil society in support of Ten Principles encompassing
human rights, labour, the environment and anti-corruption.
We work to further UNGC principles within RELX and in our
supply chain. We complete the Enhanced Communication
on Progress annually and our Global Head of Corporate
Responsibility serves on the Board of the Foundation for
the Global Compact.
For more information visit:
www.unglobalcompact.org/
what-is-gc/participants/7909
Sustainable Development Goals (SDGs)
We’re committed to doing our part to advance these
essential objectives for the world. Throughout the Corporate
Responsibility section of this report, SDG icons highlight the
SDGs relevant to the content.
Visit the RELX SDG Resource Centre
www.sdgresources.relx.com
36
RELX
Annual Report 2025 | Corporate responsibility
2025 key corporate responsibility data
2021
2022
2023
2024
2025
Revenue (GBPm)
7,244
8,553
9,161
9,434
9,590
People
Number of full-time equivalent employees (year end)
33,500
35,700
36,500
36,400
37,600
Percentage of women employees (%)^
50
50
51
51
51
Percentage of women managers (%)^
44
44
45
46
46
Percentage of women senior leaders (%)
1
^
30
31
31
32
31
Percentage of ethnic minority US/UK managers (%)^
19
19
20
21
22
Percentage of ethnic minority US/UK senior leaders (%)
1
^
10
12
15
17
19
Community
2
Total cash and in-kind donations (products, services and time (GBPm))^
10
12
12
12
11
Market value of cash and in-kind donations (GBPm)^
21
23
23
23
20
Percentage of employees volunteering (%)
3
^
32
36
36
37
38
Total number of days volunteered in company time^
10,362
12,830
16,529
16,149
14,782
Health and safety (lost time)
4
Incident rate (cases per 1,000 employees)^
0.07
0.17
0.30
0.15
0.19
Frequency rate (cases per 200,000 hours worked)^
0.01
0.02
0.03
0.02
0.02
Severity rate (lost days per 200,000 hours worked)^
0.02
0.36
0.41
0.25
0.28
Number of lost time incidents (>1 day)^
2
5
9
5
7
Socially Responsible Suppliers (SRS)
Number of key suppliers on SRS database
5
^
359
724
796
914
954
Number of independent external audits
6
^
111
119
125
137
140
Number of signatories to the Supplier Code of Conduct
7
^
3,670
4,467
5,322
6,056
6,586
Environment
8
Total on-site energy (MWh)^
125,095
117,997
110,750
89,745
55,977
Renewable electricity purchased (MWh)
9
^
105,793
98,013
92,621
77,412
50,281
Percentage of electricity from renewable sources (%)
9
^
100
100
100
100
100
Waste sent to landfill (t)
10
^
150
73
45
44
32
Percentage of waste diverted from landfill (%)
10
^
93
97
97
97
96
Water usage (m
3
)^
183,575
156,734
142,374
134,716
111,810
Climate change (tCO
2
e)
8
Scope 1 (direct) emissions^
5,644
5,211
4,317
2,703
1,966
Scope 2 (location-based) emissions^
44,051
37,270
36,616
29,989
19,500
Scope 2 (market-based) emissions^
8,321
8,952
8,598
6,971
5,294
Scope 3 (flights) Cirium’s EmeraldSky flight emissions methodology
11
^
3,402
15,879
16,999
19,172
23,826
Scope 1 + Scope 2 (location-based) emissions^
49,695
42,481
40,933
32,692
21,466
Scope 1 + Scope 2 (location-based) + Scope 3 (flights) emissions^
53,097
58,360
57,932
51,864
45,292
Scope 1 + Scope 2 (market-based) + Scope 3 (flights) emissions^
17,367
30,042
29,914
28,846
31,086
Paper
Production paper (t)^
40,910
28,466
22,561
18,949
16,927
Sustainable content (%)
12
^
98
99
100
100
100
SDG Resource Centre
Unique users^
133,832
155,082
220,815
303,837
352,391
New content items^
970
658
822
973
935
1
We define senior leaders as colleagues with a management grade of 17 and above.
2
Reporting period for Community metrics covers 12 months from December 2024 to November 2025.
3
All Group employees can take up to two days off per year, coordinated with line managers, to work on community projects that matter to them. Number of staff volunteering
reflects the number of staff using volunteering hours, as well as those who participated in other Company-sponsored volunteer activities.
4
Accident reporting covers approximately 98% of employees.
5
Key suppliers on the SRS list changes year-on-year based on our business needs and changes in country risk designations.
6
RELX utilises a third-party audit platform, which allows sharing of supplier audits across the platform.
7
Signatories to the RELX Supplier Code of Conduct include suppliers who have signed the Supplier Code and suppliers with an equivalent code.
8
Climate change and environmental data (carbon, energy, water, waste) covers the calendar year.
9
We purchase renewable electricity on green tariffs at locations in the UK and Europe. US Green-e certified Renewable Energy Certificates (RECs) are applied to electricity
consumption in the US. US Green-e certified RECs are also purchased to equal 100% of any non-renewable electricity consumed outside the US, which for 2025 is 19% of
electricity. Only location-based emissions factors are applied on this portion of non-US electricity consumption.
10
Waste sent to/diverted from landfill from reporting locations excluding estimates from non-reporting locations. In the year, the coverage of waste reporting locations
represented 70% of FTEs (74% in 2024).
11
Covers all flights booked through our corporate travel partners in the calendar year. Uses the proprietary Cirium fuel-derived methodology, Emerald Sky.
12
Percentage of paper graded as known and responsible sources by the Book Chain Project or certified to Forest Stewardship Council (FSC) or the Programme for the
Endorsement of Forest Certification (PEFC). Includes less than 0.1% of paper not yet graded or certified.
^
Independently assured. See Independent Assurance Statement.
Reporting guidelines and methodology, business reports are available on
www.relx.com/additional-cr-resources
37
RELX
Annual Report 2025 | Introduction
Financial statements
and other information
Governance
Financial review
Corporate responsibility
Market segments
Overview
2025 Corporate Responsibility recognition
MSCI ESG Ratings
• AAA rating
Sustainalytics ESG Risk Rating
• Top 1% of 14,700+ companies
• Top 2% in our industry (media)
S&P Global Sustainability
Yearbook
• Included
Financial Times Europe’s
Climate Leaders
• Included
ISS Corporate ESG
Performance
• Awarded Prime status
FTSE4Good Index
Included in:
• FTSE4Good UK Index
STOXX Global ESG
Leaders Indices
• Included
ECPI World ESG Indices
• Included
CDP
• Climate programme
SOCOTEC ISO14001
• Group certification
Workplace Pride Global
Benchmark
• Awarded Advocate status
The Science Based Targets
initiative (SBTi)
• Near-term science-based
emissions reduction
targets approved
2025 awards for excellence
Risk
Scientific, Technical & Medical
LexisNexis Risk Solutions’
ThreatMetrix won Best Fraud
Risk, Detection, or Analytics
Solution at the 2025
Regulation Asia Awards
for Excellence
LexisNexis Risk Solutions’
Firco Continuity named
Financial Crime Product of
the Year at the 2025 Risk
Technology Awards
Elsevier’s ClinicalKey AI won
the AI Innovation Award at the
2025 MedTech Breakthrough
Awards
Elsevier’s ScienceDirect AI
was awarded Best
Generative AI solution at
the 2025 CODiE Awards
Legal
Exhibitions
Nexis+ AI awarded Best
Innovation in Generative AI at
the 2025 AI TechAwards
LexisNexis Legal &
Professional recognised
across six categories at the
2025 ALM Awards with
LexisNexis Public Records
and Lexis Create+ securing
top honours
RX CEO, Hugh Jones, awarded
the 2025 Exhibition News
Pioneer Award
RX Global awarded the 2025
UFI Sustainable Development
Award for Best Inclusion
Initiative
Relevant
SDGs
38
RELX
Annual Report 2025 | Corporate responsibility
Through Special Issues on the RELX
SDG Resource Centre, we increase the
visibility of leading research, ensuring
broad access to impactful knowledge
that can drive positive change.
Esther Heuver
Senior Publisher, Elsevier,
Netherlands
Our unique contributions
In the every-day conduct of our business, we make a positive impact on
society through our unique contributions.
Risk
LexisNexis Risk Solutions’ products and services help protect
society by detecting and preventing fraud, helping citizens
securely access vital government benefits, and assisting
law enforcement to keep communities safe.
A number of Risk products help customers recognise trusted
transactions and reduce fraud. LexisNexis ID Compass Platform,
for example, reduces digital fraud by combining physical, digital
and behavioural identity intelligence to verify and authenticate
consumer identities in real time without disruption for businesses
or its customers. ThreatMetrix leverages shared global
intelligence from millions of daily consumer interactions to
identify signals of high fraud risk while BehavioSec uses
behaviour intelligence to differentiate legitimate users from bots
and cybercriminals. In the year, Risk published The Global Fraud
and Identity Landscape Report, highlighting how businesses can
significantly enhance fraud detection by integrating shared digital
identity intelligence and multi-layered security systems to
maintain consumer trust.
2025 marked 25 years of the ADAM programme, developed
by Risk to help the National Center for Missing and Exploited
Children (NCMEC) find missing children. The programme uses
Risk technology to quickly distribute missing child poster alerts to
law enforcement, hospitals, and the public in specific geographic
search areas. Risk launched a new interactive dashboard in the
year, that enables the public to search missing child posters
and filter them by location. ADAM distributed over 1.8m alerts
featuring over 2,030 missing children which helped NCMEC
resolve over 1,440 missing child cases in 2025.
Our data privacy principles, governance structures and
control programmes enable us to comply with data privacy
requirements and protect personally identifiable information.
Universal, sustainable
access to information
Advance science
and health
Protection of
society
Promote the rule of
law & access to justice
Fostering
communities
2025 OBJECTIVE
Deploy financial inclusion flagship
models which allow lenders to more
easily detect fraud and other high-risk
consumer behaviour
2025 PERFORMANCE
Financial inclusion is fundamental to improving the financial
wellbeing of communities around the world. With adequate
wages and access to appropriate financial tools, citizens are
lifted out of poverty, (SDG 1); avoid hunger (SDG 2); have better
health (SDG 3); are more likely to receive quality education
(SDG 4); and more women are likely to aid the financial wellbeing
of their communities (SDG 5), among other SDG benefits.
Worldwide, the World Bank estimates that 1.3bn adults lack
access to formal financial services. Without access to basic
transaction accounts, they lack a traditional credit record
and are excluded from financial opportunities. The problem is
often magnified in low-income countries, given gaps in identity
verification and credit risk assessment.
In the year, Risk advanced an alternative data strategy which
accelerates financial inclusion by enabling businesses to
responsibly underwrite customers who have limited traditional
credit records. Risk deployed an alternative data credit model
in South Africa and Argentina, countries with distinct financial
inclusion challenges. In South Africa, the model leverages
non-traditional data sources such as mobile usage and digital
transactions to assess credit eligibility in underserved
communities. In Argentina, the model is similarly being used to
support financial institutions in navigating economic volatility
by integrating alternative data into credit assessments. These
efforts reflect our commitment to expanding access to financial
services through innovative, data-driven approaches tailored
to local market needs.
39
RELX
Annual Report 2025 | Our unique contributions
Legal
Through its content, data and analytics, LexisNexis Legal &
Professional supports the four components of the Rule of
Law: transparency of law, equality under the law, independent
judiciaries and accessible legal remedy. Its global legal and
news database contains over 207bn documents and records
providing transparency of the law in around 180 countries and
territories, with some 1.9m new legal documents added daily.
The LexisNexis Trust Center was launched in 2025, a centralised
hub designed to provide customers, partners and regulators
with clear, accessible information about the company’s security
posture, privacy practices, governance frameworks, and
compliance commitments. The Trust Center aims to provide
customers and partners around the globe with transparency and
confidence in our technology.
LexisNexis Legal & Professional partners with the International
Bar Association (IBA) on the eyeWitness to Atrocities App, which
allows human rights defenders to document and report human
rights abuses in a secure and verifiable way so information can be
used as admissible evidence in relevant forums. LexisNexis Legal
& Professional’s data hosting capabilities provides a secure
repository for the information. Over 80,000 photos and videos
have been captured through the app since 2015.
The LexisNexis Legal & Professional US Voting Laws and
Legislation Center offers free public access to insights on
proposed bills, codes and real-time updates for the most
accurate data.
LexisNexis Legal & Professional partners with leading industry
associations to recognise individuals and organisations for their
commitment to the Rule of Law. 2025 award honourees include;
Seve Aydin-Izouli and Héctor Estuardo Reyes Chiquín, recipients
of the Union Internationale des Avocats/LexisNexis Rule of Law
Award; and Oluwafunke Adeoye, recipient of the IBA Outstanding
Young Lawyer of the Year Award, jointly established by Legal and
the IBA Young Lawyers Committee, to honour young lawyers who
have demonstrated excellence, commitment to professional and
ethical standards, and dedication to the community at large.
LexisNexis Legal & Professional advances SDG 16 (Peace, Justice
and Strong Institutions) through its products and services that
promote the Rule of Law.
We prioritise individuals’ privacy concerns across all jurisdictions
where we operate. We work with established privacy advocacy
groups, federal and state legislators and other interested parties
and operate within relevant legal, regulatory, ethical and best
practice frameworks. Risk’s products and services align with
SDG 16 (Peace, Justice and Strong Institutions) and SDG 10
(Reduced Inequalities), among others.
Scientific, Technical & Medical
Elsevier advances scientific knowledge and human welfare,
spurs innovation and enables critical decision-making through its
science and health publications. Elsevier published over 795,000
articles in 2025. It is focused on expanding access to content in
places where resources are often scarce. For example, Elsevier
is a leading contributor and founding partner of Research4Life,
a partnership with UN agencies and over 200 publishers through
which we provide core and cutting-edge scientific information
to researchers in over 125 low- and middle-income countries.
Elsevier provides around 14% of the material available in
Research4Life, encompassing approximately 5,500 journals
and 35,000 e-books. In 2025, there were over 942,000 total
Research4Life downloads from Elsevier’s research platform,
ScienceDirect.
SSRN is Elsevier’s preprint and early-stage research platform.
It allows researchers around the world to openly share their work
so that it is freely available to others in their field and the wider
research community, promoting discussion, collaboration and an
exchange of ideas. In 2025, over 1,200 Elsevier journals offered
researchers the opportunity to simultaneously submit a paper
for publication and also post it as a preprint on SSRN.
Elsevier’s 4th Generation University initiative, developed in
partnership with a group of 12 Universities, positions universities
as orchestrators of regional innovation, achieving societal
and economic impact through partnerships with industry,
government, and civil society. More than 50 universities from over
30 countries have joined the 4th Generation University community
to date. The initiative was awarded the Thought Leadership
Industry Catalyst prize at the 2025 Thought Leadership For
Tomorrow Awards for bringing universities together to embrace
local innovation with the aim of tackling pressing challenges and
driving regional economic growth.
Elsevier makes a significant contribution to SDG 3 (Good Health
and Well-Being), SDG 5 (Gender Equality), SDG 10 (Reduced
Inequalities) and SDG 13 (Climate Action).
2025 OBJECTIVE
Advance research by women scientists
in collaboration with the Falling Walls
Foundation, providing access to resources,
networks and training
2025 PERFORMANCE
Elsevier works to build capacity and equity in research and
health for an inclusive and sustainable future. The Elsevier
Foundation partnered with the Falling Walls Foundation to
sponsor the Women’s Impact Award, which celebrates
visionary scientists whose interdisciplinary, and ground-
breaking research advances gender equity and creates
meaningful impact for women and girls. The three 2025
winners, selected from 85 applications, were Colette Wabnitz,
recognised for her work on gender equity in fisheries; Omneya
Attallah, chosen for her work on early detection of breast
cancer in resource limited settings; and Ângela Gonçalves,
awarded the Science Breakthrough of the Year award for her
research on women and healthier aging. In addition, two
workshops for the 2025 cohort of Female Science Talents
Intensive Track which inspires and empowers talented women
researchers to progress careers were held in the year.
Participants came together to discuss science communication,
women’s career paths, industry insights, and purpose-driven
science. This work supports SDG 5, Gender Equality.
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
40
RELX
Annual Report 2025 | Corporate responsibility
Exhibitions
Exhibitions helps to foster communities by connecting customers
face to face and digitally, allowing them to learn about markets,
source products and complete transactions. Participants benefit
by making connections and doing business in person, allowing
them to see many customers and suppliers at one time.
Exhibitions foster collaboration, spark innovation and support
progress toward a more inclusive and sustainable global economy.
The PGA Show is RX Global’s golf exhibition. It advanced event
sustainability in the year by aligning with RX’s Net Zero Carbon
Events pledge, integrating waste-reduction, inclusive design
and digital engagements for more than 22,000 attendees and
1,025 exhibiting brands.
KORMARINE, RX’s maritime and energy exhibition welcomed
more than 27,000 visitors and 695 exhibitors from 23 countries to
Busan, South Korea in 2025. This year’s event featured the debut
Next Energy Pavillion focused on future fuels and renewable
energy, highlighting RX’s role in advancing decarbonisation and
innovation in the shipping and energy sectors.
MIPCOM Cannes 2025 featured the sixth edition of the MIP SDG
Awards, honouring Secuoya Studios for its commitment to the
UN SDGs and for driving measurable progress through content
creation and production practices. Presented in partnership
with the United Nations, the 2025 awards recognised leadership
in advancing sustainability and inclusion across the global
media industry.
At the 2025 edition of World Travel Market in London sustainability,
investment and inclusive growth in global tourism were
highlighted, aligning industry investment with purpose-led travel.
Each event connects industries and also accelerates collective
solutions to shared global challenges.
RX events support SDG 9 (Industry Innovation and Infrastructure),
SDG 12 (Responsible Consumption and Production), SDG 17
(Partnerships for the Goals) and SDG 13 (Climate Action) through
our Net Zero Events commitments.
2025 OBJECTIVE
Provide research and training to Afghan
women studying for law degrees in the
United States in association with the
American Bar Association
2025 PERFORMANCE
2025 OBJECTIVE
Create an RX energy and waste emissions
dashboard to monitor performance
and publish RX event energy and
waste emissions
2025 PERFORMANCE
Legal partners with the American Bar Association on their
Afghan Legal Professionals Programme which provides
resettled Afghan legal professionals, particularly women,
access to legal education, accreditation, mentoring and training
that will allow them to pursue law careers in the United States.
Since 2023 LexisNexis Legal & Professional have provided a
bespoke online legal research training course for participants
of the programme.
In 2025, 16 Afghan legal professionals were pursuing US legal
accreditation in Master of Law programmes and preparing for
On World Environment Day 2025 RX published a first
Sustainability Report, with assured 2024 data on RX business
travel, event energy and event waste emissions. Between 2018
and 2024 RX achieved a 35% reduction in event energy
and waste.
This effort builds on RX’s Roadmap to Net Zero in 2040, which
outlines key milestones in the journey to decarbonisation.
Work continued in the year to enhance visibility through the
development of a standardised venue reporting template with
partners across the exhibition industry. This work, expected to
be adopted by The Global Association of the Exhibition Industry
and Net Zero Carbon Events (NZCE), strengthens cross-
organisational data consistency and transparency.
bar examinations. Seven participants graduated in the year,
and Salma Ahmadyar became the first programme participant
to successfully pass the bar exam in Wisconsin and was
admitted to practice law in the year. This work supports SDG 16
(Peace, Justice and Strong Institutions).
A new energy and waste emissions dashboard was launched
in 2025 which enables senior leadership to monitor carbon
performance by business unit and event. This system improves
data integrity, empowers local teams, and ensures alignment
with RX’s NZCE pledge. The dashboard includes real-time
analytics, accelerating RX’s focus on action, translating
measurement into meaningful reduction, innovation and
shared progress across RX shows globally.
41
RELX
Annual Report 2025 | Our unique contributions
2026 objectives
By 2030
Protection of society
– Deploy financial inclusion models which
allow lenders to more easily detect fraud and other high-risk
consumer behaviour, in support of SDG 10 (Reduced Inequalities)
Advance science and health
– Introduce Elsevier Foundation-
Lancet Evidence to Impact Awards to translate critical research
into practice, building capacity with researchers and health
care practitioners in low and middle income countries through
Elsevier content and the Research4Life Country Connectors
programme, in support of SDG 10 (Reduced Inequalities) and
SDG 13 (Climate Action)
Promote the rule of law and access to justice
– Partnership
with Indiana State Bar Association to address shortage of legal
representatives in rural and underserved communities in the
state; convene first virtual Rule of Law Café conference to bring
together stakeholders to highlight key issues, in support of
SDG 16 (Peace, Justice and Strong Institutions)
Fostering communities
– Pilot RX Sustainability scorecard
supported by e-learning, in support of SDG 13 (Climate Action)
Universal, sustainable access to information
– Increase
the number of unique users of the RELX SDG Resource Centre
by at least 20,000 additional unique users
Use our products and expertise to advance the SDGs,
among them:
SDG 3 (Good Health And Well-Being)
SDG 10 (Reduced Inequalities)
SDG 13 (Climate Action)
SDG 16 (Peace, Justice and Strong Institutions)
Enrich the SDG Resource Centre to ensure essential content,
tools and events on the SDGs are freely available to all
RELX SDG Resource Centre, Inspiration Day
and Environmental Challenge
Recognising that across RELX we have products, services, tools
and events that advance the UN’s 17 SDGs, we created the free
RELX SDG Resource Centre in 2017 to advance awareness,
knowledge and implementation of the SDGs. Since 2017, we have
made over 2,700 journal articles and book chapters free to access
via the RELX SDG Resource Centre which would have otherwise
cost more than £5.7m to make open access.
We held the annual RELX SDG Inspiration Day during the year
with a focus on how philanthropy can bridge funding gaps to
advance the SDGs. Thought leaders, corporate representatives,
investors, governments, and NGOs discussed challenges and
opportunities for collaboration. Keynote speakers included 8th
Secretary General of the United Nations, Ban Ki-moon, Comic
Relief co-founder, Sir Lenny Henry and co-founder of Global
Citizen, Michael Sheldrick.
2025 marked the fifteenth year of the RELX Environmental
Challenge, which provides grants for projects that best
demonstrate how they can provide sustainable access to safe
water and sanitation where it is presently at risk. A $50,000 prize
is granted to the first-place entry and a $25,000 prize for the
second-place entry. The winners also receive free access for one
year to ScienceDirect, Elsevier’s database of full text, scientific
information. Projects must have clear practical applicability,
address identified need and advance related issues such as
health, education, or human rights.
The first prize winner this year was Folia Water for their
paper-based water filter with silver antimicrobial technology,
designed to deliver safe drinking water for low-income
Bangladeshi communities. The second prize winner was Rice
University for Solar Thermal Resonant Energy Exchange
Desalination, a fully decentralised, membrane-free, solar
thermal desalination solution, which addresses critical water
scarcity and brine waste management issues.
2025 OBJECTIVE
Increase the number of unique users of the
RELX SDG Resource Centre by 10,000
additional unique users in the year
2025 PERFORMANCE
In 2025, we added 935 new content items to the RELX SDG
Resource Centre bringing the total to 6,729, an increase of 16%
over the previous year. We published more than ten special
issues in 2025 featuring curated articles, book chapters and
other content on critical topics to provide insights for World
Water Day, World Food Day, World Alzheimer’s Day, COP30, and
a philanthropy special collection to coincide with the RELX SDG
Inspiration Day, providing the more than 800 attendees, and
others, with relevant additional resources. There were more than
352,000 unique users in 2025, an increase of 48,500 over 2024.
16%
Increase in unique users of the RELX SDG Resource
Centre since 2024
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
Relevant
SDGs
42
RELX
Annual Report 2025 | Corporate responsibility
CR Governance and reporting
Our Board recognises the importance of maintaining high
standards of corporate governance. Our corporate governance
programme supports our ability to deliver consistent financial
performance and value to our stakeholders and aligns with
RELX’s values of doing business with integrity. The Board
oversees RELX’s corporate governance, its role and function
is explained fully in the Corporate governance section (see
pages 80 to 127). The Board and the Audit Committee of the
Board regularly receive presentations from the Chief Compliance
Officer on matters arising under our ethics and compliance
programmes. In addition, the Chief Legal Officer & Company
Secretary, who reports directly to the CEO and the Chair,
maintains responsibility for implementing the ethics
and compliance programmes.
Governing policies set out our stance on key issues. The RELX
Code of Ethics and Business Conduct, the Code of Ethics for Senior
Financial Officers, the Supplier Code of Conduct, Tax Principles,
Privacy Principles, Inclusion Policy, Health and Safety Policy,
Editorial Policy, Responsible Artificial Intelligence Principles,
Quality First Principles and Product Donation Policy are publicly
available at
www.relx.com/cr-downloads
.
Corporate responsibility governance
Our purpose, strategy, values and culture deliver the very highest
standards of corporate governance and responsibility.
A strong privacy programme and
robust data protection practices are
essential to meeting our commitment
to responsible stewardship and
accountability in handling the
personal information entrusted to us.
Fabienne Lornage
Data Protection Officer,
RELX, UK
Our CR governance framework
The CEO has responsibility to the Board for CR. They and
senior management, as well as the CR Forum, chaired by
a senior leader and involving individuals representing
key functions and business areas, set and monitor CR
performance. This includes our annual and longer term
CR objectives, which reflect the views of a range of
internal and external stakeholders. More information can
be found on
www.relx.com/additional-cr-resources
.
The Global Head of Corporate Responsibility provides
formal updates to the Board and engages on key issues
with senior managers, who have CR-related Key
Performance Objectives (see page 104).
Board
CEO
Business area CEOs
CR
Forum
Global Head
of Corporate
Responsibility
and CR Team
Compliance
Committees
RELX CR
networks
Pursuing a Culture of Integrity; the Code of
Ethics and Business Conduct
Doing the Right Thing is more than a phrase at RELX, it embodies
principles that represent RELX’s culture of integrity. This includes
respecting one another, incorporating ethics in all our actions;
growing our business with integrity; holding ourselves and
each other accountable; and taking time to ask questions and
report concerns.
Doing the Right Thing clearly sets out our high ethical
expectations for employees. We expect honesty in our dealings
with others, respecting the law, our policies and colleagues;
and courageously speaking out for what is right. RELX provides
relevant training and resources; enables a culture where people
can feel comfortable speaking up and experience no retaliation
when they do; and ensures concerns are heard and acted on
in a fair and timely manner.
The RELX Code of Ethics and Business Conduct (the Code) is a
foundational document which guides employees, management
and our stakeholders in maintaining the integrity and
accountability of our corporate and individual behaviour. The Code
was most recently updated in 2024 and shared with staff globally
by the CEO. It is at the heart of our compliance activities, which
encompass clear policies and procedures; risk assessments;
training and communication; and robust reporting mechanisms,
investigations, monitoring and auditing of internal controls.
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Annual Report 2025 | Corporate responsibility governance
Data privacy governance
Data is integral to the solutions we provide that further our unique
contributions as a business, including protecting consumers from
the risk of fraud; facilitating secure online transactions; improving
access to financial and government benefits; enhancing
face-to-face connections at exhibitions; and delivering high
quality scientific research and healthcare.
Recognising concerns and sensitivities around personal data,
our commitment to data privacy remained a critical RELX priority
in 2025 and continues to be supported by strong governance,
transparency and accountability. Dedicated privacy teams
implemented requirements for compliance with personal data
protection regulations around the globe. RELX continues to
advocate for privacy laws that protect consumers, bolster
consumer trust and allow businesses to invest in data-driven
activities that serve the public interest. RELX companies in the US
participating in the Data Privacy Framework programme renewed
their self-certification in the year.
We proactively consider privacy concerns in developing and
offering our solutions. Our Privacy Principles, available at
www.relx.com/corporate-responsibility/being-a-
responsible-business/privacy-principles,
guide our approach
to the responsible collection and use of personal data and
are supplemented by privacy policies and impact assessments to
mitigate risks, ensuring we are responding to new requirements,
best practices and expectations.
Our privacy teams undertake activities and training that deepen
employee awareness about personal data protection. For Data
Privacy Day 2025, we celebrated the winners of the annual RELX
Privacy Principles Champions Competition, which recognises the
achievements of employees in protecting personal data and
implementing our Privacy Principles.
2025 OBJECTIVE
Consolidate records of privacy processing
activities
2025 PERFORMANCE
Records of processing activities (ROPAs) internally document
our personal data processing activities as part of our
accountability and compliance measures. In 2025, RELX
privacy teams clarified and consolidated hundreds of ROPAs
and updated the ROPA questionnaires and guidance to
facilitate completion.
This activity aligns with SDG 16 (Peace, Justice and Strong
Institutions).
Our Code encompasses a wide range of issues including fair
competition, anti-bribery, conflicts of interest, employment
practices and human rights, data protection and appropriate
use of company property and information.
To help employees comply with applicable laws, we
supplement the Code with other policies in areas critical to our
business, including anti-bribery, competition, doing business
with government, data privacy and security, trade sanctions
and workplace conduct.
We communicate on compliance issues using a range of media,
including video.
We require cyclical mandatory training on the Code and other
policies for all employees, with in-person and other training
for those in higher risk roles and locations.
99+%� of all compliance courses are completed within
90 days of issuance.
We encourage reporting of violations through multiple
channels, including an anonymous reporting option where
legally allowed.
Compliance Committees oversee investigations and help
ensure remediation and ongoing monitoring as required.
We do not tolerate retaliation for raising Code concerns.
We have a third-party expert evaluate our Compliance
programme every three years and the Code is updated every
three years .
Read our Code of Ethics and Business Conduct at
www.relx.com/cr-downloads
^
Independently assured
Reporting Channels Under the Code
We offer multiple channels to report Code-related concerns,
including managers, human resources, Compliance committee
members and company lawyers. We also provide an Integrity Line,
hosted by an independent third-party, and available to employees,
suppliers and other reporting persons by telephone or online
24 hours a day, 365 days a year, which includes an anonymous
reporting option where legally allowed. The Integrity Line also
includes an Ask A Question feature which allows employees to
seek ethical advice before taking action. More information about
these reporting channels is detailed in the Code, the RELX
Reporting Concerns Policy and supplemental country-specific
Reporting Concerns Notices available on www.relx.com.
These documents prohibit retaliating against individuals who
raise concerns or participate in an investigation.
Reports are investigated and action is taken accordingly if reports
are substantiated. Substantiated reports result in additional
training, coaching, policy changes, control enhancements,
and/or disciplinary action. Report themes are reviewed by senior
leadership to assist in measuring the effectiveness of reporting
channels, identifying risks and areas to allocate Compliance
programme resources. RELX has investigated or is in the process
of investigating 431 reports of alleged Code violations received
in 2025 through the RELX Integrity Line or through the other
Reporting Channels identified in the Code (2024: 372).
Approximately 46% of those reports where the investigation
is complete have been substantiated (2024: 48%).
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
44
RELX
Annual Report 2025 | Corporate responsibility
Cybersecurity governance
The RELX Information Security Policy establishes comprehensive
controls and procedures designed to safeguard the confidentiality,
integrity and availability of company information. The policy
includes a commitment to ongoing enhancement of information
security systems and is supported by a set of interrelated policies
and standards addressing essential facets of information
protection. In 2025, more than 99%
^
of employees were included in
monthly phishing simulation exercises.
During the year, we continued to enhance our security efforts with
additional infrastructure monitoring capabilities both internally
and through third parties. We completed more than 5,000 security
related requests, questionnaires and audits for our customers.
In addition, we engaged third parties to perform independent
audits on a number of our products and services. More than 60%
of the product revenue from our three largest business areas
were covered by a third-party audit. In addition, our UK Risk
products have been ISO27001 certified.
2025 OBJECTIVE
Continued enhancement of our technical
resilience and expansion of products and
applications covered by independent third
party assessments
2025 PERFORMANCE
We invest across our business to enhance our technical
resilience posture. This includes initiatives in application
dependency analysis, defining triage recovery order,
implementation of resilient backups, and recovery testing,
both desk-based and technical. In the year our businesses
completed initial technology implementation and recovery
simulations for key products including Risk’s Accurint,
STM’s ScienceDirect, and Legal’s Lexis+, and we conducted
periodic testing of their resilience posture by performing
recovery simulations.
These activities align with SDG 16 (Peace, Justice and Strong
Institutions).
Public Policy, Anti-Bribery and Sanctions
We engage in public policy discussions that matter to our business
and our customers. We strive to help policy makers around the
world understand our business, innovations and contributions
to the public interest.
Lobbying activities on behalf of RELX Inc. are managed by
the RELX Government Affairs team, and, in coordination with our
legal teams, are vetted, tracked and reported as required by law.
Consistent with our commitment to fostering a culture of integrity
including through good governance, RELX has a supplemental
policy and training for our employees that specifically relate
to engagement with government officials and agencies.
The Code and related supplemental policy also address corporate
political contributions, which are strictly prohibited except in the
US, where such contributions and activities are permitted in
certain states within allowable limits, if they comply with stringent
reporting and disclosure regulations. Corporate political
contributions require senior level review and approval. Corporate
contributions are reported as required by law. Contributions
are made on a bipartisan basis, and no funds are donated for
presidential campaigns or any other federal-level campaigns.
We remained diligent through the year to comply with applicable
bribery and sanctions laws and mitigate risks in these areas.
Our anti-bribery and sanctions programmes include detailed,
risk-based internal policies and procedures on topics such as
doing business with government officials, gift and entertainment
limits, gift registers, and complex sanctions requirements.
Relationships with third parties and acquisition targets are
evaluated for risk using one or more of the following methods,
questionnaires, references, detailed electronic searches, and
Know Your Customer screening tools. We monitor and assess
the implementation of our anti-bribery and sanctions
programmes by continually reviewing and updating our policies
and procedures; conducting risk assessments; and conducting
quality reviews and internal monitoring and audits of the
operational aspects of the programmes. In the year, we took part
in the Private Sector Forum at the Eleventh Session of the
Conference of the States Parties (COSP11) to the United Nations
Convention against Corruption.
The Code supports the principles of the United Nations Global
Compact (UNGC) and stresses our commitment to human rights.
We consider where and how we operate to avoid human trafficking
and modern slavery in our direct operations and our supply chain.
As stated in our Modern Slavery Act Statement, available at
www.relx.com
, we stand against all forms of slavery and
human trafficking. We do not tolerate it in any part of our business,
including our supply chain. Our policies are also informed by the
UN Guiding Principles on Business and Human Rights, the
Universal Declaration of Human Rights, the OECD Guidelines for
Multinational Enterprises, the International Labour Organisation
(ILO) Declaration on Fundamental Principles and Rights at Work
and the Women’s Empowerment Principles.
A responsible taxpayer
Taxation is an important issue for us as well as our stakeholders,
including our shareholders, governments, customers,
suppliers, employees and the global communities in which
we operate. We are transparent about our approach to tax. At
www.relx.com/go/TaxPrinciples
we provide details about
our tax principles and global tax contribution – broken down
by regions and categories – along with our tax risk control
framework. There are also case studies showing how RELX has
made a positive contribution in tax-related areas to benefit
society. RELX is a signatory to the B Team’s Responsible Tax
Principles. The B Team is a group of business leaders committed
to sustainability, equality and accountability.
Globally in 2025, RELX paid £638m in corporate taxes, but also
paid and collected much more in payroll taxes and indirect taxes.
^
Independently assured
45
RELX
Annual Report 2025 | Corporate responsibility governance
2026 objectives
By 2030
Privacy
– Expand role-based privacy training tailored to job
function, aligned with SDG 16 (Peace, Justice and Strong
Institutions)
Security
– Expansion of products and applications covered by
independent third-party assessments, aligned with SDG 16
(Peace, Justice and Strong Institutions)
Responsible tax
– Continue to advance tax transparency and
responsible tax projects in Africa, aligned with SDG 16 (Peace,
Justice and Strong Institutions)
Continued progressive actions that advance excellence
in corporate governance within our business and continue
providing information, tools and analytics that promote
high standards of corporate governance by our customers
2025 OBJECTIVE
Continue to advance tax law codification
pilots and responsible tax practices
in Africa
2025 PERFORMANCE
Taxes provide governments with the essential revenue
necessary for public services that benefit their citizens.
Governments need codified tax laws to know when, how
much and from whom they should be collecting. Citizens need
codified and transparent tax laws to understand their liabilities
and to advocate for fair collection and use of their remittances.
Unfortunately, in many countries around the world, it is
difficult for tax authorities and taxpayers alike to access
tax law in a complete, up-to-date and consolidated form.
During 2025, the RELX tax team discussed the commencement
of a tax law consolidation project with Kenya’s government,
similar to a successful project completed in Ethiopia in 2024.
The Ethiopia tax law project attracted the attention of the World
Bank which has now embarked on an African Tax Legislation
Atlas (ATLA) project, a partnership between the World Bank,
LexisNexis Rule of Law Foundation and the International
Bureau of Fiscal Documentation, to build an innovative
digital repository consolidating Africa’s tax laws to support
transparency, comparative analysis and legal reform.
The ATLA was initiated in November 2025 with several pilot
countries including Ethiopia and Kenya.
In addition, RELX Tax was selected as a responsible tax
champion in the Responsible Tax Practices project, an initiative
of the International Finance Corporation, a member of the
World Bank Group, and the B Team, to enhance responsible
tax practices in Africa. This groundbreaking initiative brings
together responsible tax leaders and their private sector peers
to explore the what, why, and how of responsible tax practices.
The project was launched with a roundtable in Nairobi in
April 2025. As a responsible tax champion, RELX has had
an opportunity to share our insights and experience of
implementing responsible tax practices over the last decade
with participant companies from across Africa.
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
Relevant
SDGs
46
RELX
Annual Report 2025 | Corporate responsibility
Improving customer outcomes
Our goal is to improve outcomes for our customers by providing
information-based analytics and decision tools for professional
and business customers that benefit their daily work.
Listening to our customers allows us to deepen our understanding
of their needs and drive improvements. We do this through regular
surveys, customer dashboards and feedback mechanisms.
With input from customer insight teams across our company,
we calculated a RELX-wide customer satisfaction metric showing
that in 2025, 87% of customers would recommend working
with RELX.
Digital knowledge and innovation, Artificial
Intelligence across RELX: advancing
customer goals
Across RELX, we work to address customer challenges through
digital innovation. In 2025, electronic products and services
accounted for 84% of revenue, up from 35% in 2005.
Risk
In 2025 Risk launched Medical Insights from LexisNexis Health
Intelligence. The new functionality of the Health Intelligence
platform standardises and extracts key insights from electronic
health records (EHRs), including targeted health data such as
vitals, labs and material conditions. This enhancement goes
beyond the standard EHR summary to allow US life insurance
carriers to more quickly identify key critical risk data within the
EHR to improve mortality outcomes, accelerate underwriting
decisions, enhance risk assessment and advance rules
automation with structured data.
In the year, data from Risk’s ICIS informed a new study on the
impact of European circularity regulation, including the EU
Packaging and Packaging Waste Regulation, on global demand
for recycled plastic, particularly as it affects China’s chemical
industries. A key finding was a strong increase in demand for
recycled content, impacting sourcing strategies and boosting
demand for certified recycled materials globally.
Scientific, Technical & Medical
STM launched ScienceDirect AI which enhances research
integrity and efficiency by providing researchers with precise
summaries, extracting key findings from millions of peer-
reviewed articles. To help clinicians with responsible and effective
use of generative AI tools, Elsevier launched the Gen AI Academy
for Health, an accredited, complementary and self-paced course.
Elsevier also launched a new AI evaluation framework designed
to assess the effectiveness and safety of generative AI tools used
in clinical decision support, including within its ClinicalKey AI
platform. Developed with input from clinical experts, the
framework evaluates AI generated responses for query
comprehension, helpfulness, accuracy, completeness and clinical
safety. It builds on Elsevier’s partnership with the Coalition for
Health AI, which aims to set ethical standards to enhance the
delivery of quality healthcare.
Customers
We deliver information-based analytics and decision tools in a sustainable
way to our customers, driving growth for the long term.
Engaging with our customers helps
us understand their evolving needs
and ensures that our solutions deliver
real value. Customer insights drive
innovation and strengthen trust at the
heart of our partnerships.
John Park
Relationship Manager,
LexisNexis Legal &
Professional, Australia
Legal
Legal launched its AI-powered legal assistant, Protégé, in 2025
which enables legal professionals to interact using voice
commands, making tasks such as legal research, drafting and
case law summarisation faster and more efficient. Features
such as strict data privacy standards, secure vaults, visual case
timelines and workflow suggestions enhance productivity to
help customers make good legal decisions more quickly.
CaseMap+ AI was launched in the year, an advanced litigation
case management platform designed to streamline litigation
processes and enhance strategic decision-making for litigators.
CaseMap+ AI provides them with efficient tools for organising,
analysing, communicating and presenting case information.
Exhibitions
Digital event technology continued to transform the way RX’s
customers connect, learn, and do business, enabling them to
create and capture more value while reducing environmental
impact. RX’s Lead Manager App provides exhibitors with a quick,
easy and reliable way to capture and qualify leads by scanning
attendees’ badges with a mobile phone. Complementing this,
Colleqt QR Code allows attendees to proactively scan QR codes
on exhibitor stands to collect their contact details and product
information quickly and sustainably. Their registration data is
passed automatically to exhibitors to enhance lead generation.
In 2025, exhibitors at RX events collectively captured over
8.9m leads through Lead Manager App.
In the year, RX China continued integrating green innovation
zones, decarbonisation forums, and AI-powered matchmaking,
to support key sectors like smart manufacturing and robotics
while anchoring operations in sustainability.
47
RELX
Annual Report 2025 | Customers
In the year Law360, LexisNexis Legal & Professional’s legal news
service, implemented a policy requiring all articles to be reviewed
by an AI-powered bias indicator tool before publication. The tool
was designed to promote neutrality by identifying potentially
biased language and supports editorial quality.
Accessibility
We strive to empower all people, including persons with
disabilities, by ensuring our products and services are accessible
and easy to use by everyone. Our commitment to accessibility is
embedded across RELX and advances our Inclusion Policy.
We work to ensure we meet the requirements of relevant global
accessibility laws including the European Accessibility Act and
the Americans with Disabilities Act.
We maintain an Accessibility Policy that highlights industry
standards and tools to embed accessibility into our products
and our business operations. We apply best practice from the
RELX Accessibility Policy across hundreds of digital products
and websites. Our minimum standard for our Websites is the
Web Content Accessibility Guidelines (WCAG) 2.1 Level AA.
Our Accessibility Policy is available at
www.relx.com/cr-downloads
.
Elsevier’s ScienceDirect platform was ranked in the top 1% for
most accessible home page by the 2025 WebAIM Million study.
The Health Education Systems Incorporated (HESI) Delivery
Operations team continued to work with students taking the
HESI exam to register to take it remotely via our remote
proctoring vendors. Since 2019, the team has processed more
than 940 candidate accommodation requests, ensuring that
these candidates have an accessible and inclusive experience.
In 2025, Elsevier’s Global Books Digital Archive fulfilled more
than 1,700 disability book accommodation requests. Elsevier
was also recertified in the year as a Global Certified Accessible
publisher by Benetech, a non-profit organisation based in
Palo Alto, California. Elsevier launched PDF tagging in all new
journals and books, which allows assistive technologies like
screen readers to interpret and navigate documents correctly.
Bringing science into society
We work closely with journalists to ensure that research findings
are accurately and effectively communicated to the public, and
that authors receive credit for their work.
Elsevier’s Library Connect programme and Academy, provides
library and information science professionals worldwide with
opportunities for knowledge sharing. In 2025, Library Connect
Academy hosted a GenAI Literacy programme with over 5,500
librarians enrolled. Covering Library and Information Science
(LIS) best practices, trends and technology, The Library Connect
Newsletter had more than 40,000 LIS professionals subscribed
globally and the Library Connect website had over 27,000 visitors.
In the year Elsevier expanded its Geographical Pricing for Open
Access initiative which now includes around 300 gold open access
journals. The initiative helps authors in low- and middle-income
countries publish their research open access through pricing
based on local economic conditions. Since the launch of the pilot
the initiative has seen more than 14,500 articles by authors in
more than 100 low- and middle-income countries accepted by
participating journals.
Editorial standards
Maintaining the integrity of what RELX publishes is vital to the
trust of customers and other stakeholders. Our Editorial Policy,
available to all staff (and publicly available on
www.relx.com/
corporate-responsibility/engaging-others/policies-and-
downloads)
makes clear our respect for human rights, pluralism
of sources, ideas and voices.
Elsevier has dedicated resources and processes to support
research integrity. Elsevier’s Research Integrity and Publishing
Ethics team supports publishers and editors through their
research integrity strategy which focuses on, resolving
post-publication ethics cases for publishers and editors,
detecting unethical practices during the editorial process to
prevent publication and raising awareness within Elsevier and
the communities that we serve on best practices. We also believe
in editorial independence and keep editorial decision making
processes separate from our commercial interests.
2025 OBJECTIVE
Support expanded use of Artificial
Intelligence across RELX by updating the
RELX Responsible AI Principles to reflect
technological advancements
2025 PERFORMANCE
We created the RELX Responsible AI Principles in 2022
and they are publicly available at
www.relx.com/
corporateresponsibility/engaging-others/policies-
anddownloads
. The Principles are accompanied by a
RELX position paper on AI and a dedicated address that
anyone can use to provide feedback or raise queries:
Each business area works to implement the Principles, with
dedicated teams responsible for developing policy, processes,
tools, resources and training to support teams working with
data science, machine learning and AI in embedding the
Principles in their day-to-day activities.
We hosted a RELX Responsible AI Summit in the year, with
sessions on agentic AI, responsible AI by design and current
and pending AI legislation. Insights and questions raised at the
summit will be considered by the Responsible AI working group
when updating the principles.
We are committed to updating our RELX Responsible AI
Principles in recognition of the rapidly changing adoption and
use of AI. In 2025 we assembled feedback from organisational
stakeholders on suggested changes to the principles and the
Responsible AI Working Group met to review this information
and propose new language. Work will continue in 2026 to
incorporate feedback and update the principles accordingly.
This activity supports SDG 8 (Decent Work and Economic Growth).
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
48
RELX
Annual Report 2025 | Corporate responsibility
2026 objectives
By 2030
Quality
– Update RELX Responsible AI Principles to keep pace
with evolving technology, aligned with SDG 8 (Decent Work and
Economic Growth)
Accessibility
– Establish and implement accessibility best
practices for AI-driven user interfaces and AI-generated content,
aligned with SDG 10 (Reduced Inequalities)
Customer engagement
– Develop an internal AI tool for customer
facing colleagues to quickly access corporate responsibility
information, aligned with SDG 17 (Partnership for the Goals)
Continue to expand our customer base across our four
business areas through excellence in products and
services, active listening and engagement, editorial
and quality standards, and accessibility. Continue
to be recognised as an advocate for responsible
marketplace practices
In 2025, Elsevier undertook research with people with disabilities,
including users of Editorial Manager, ShadowHealth, and our PDF
journal articles. To improve the accessibility and perceivability of
animated 3D simulations, Elsevier’s Shadow Health Digital Clinical
Experiences is piloting built-in screen reading functionality.
We worked with disability services offices, procurement officials and
instructors across the world to provide Accessibility Conformance
Reports (ACRs). Elsevier launched a new public resource in the
year enabling users to access ACRs for various products detailing
how they meet global accessibility standards and laws, helping
address customer queries and increasing transparency. Legal
undertook work in the year towards a similar online ACR repository.
Customers can also utilise a dedicated accessibility email address
to connect with an accessibility expert and support ACR requests.
In 2025 Accessibility Teams across Risk, Elsevier and Legal
resolved over 600 customer accessibility requests.
2025 OBJECTIVE
Develop a new accessibility design
review process
2025 PERFORMANCE
2025 OBJECTIVE
Engagement with sales professionals
throughout the business on the value of
corporate responsibility for our customers
2025 PERFORMANCE
RELX is committed to creating products that are usable
by everyone including people who experience a disability.
Product teams, supported by a network of Accessibility
Champions, work to ensure digital accessibility is embedded
into the design of products and services from the start to
ensure an optimal experience for disabled users.
In the year we produced a new comprehensive User Experience
Accessibility Design Guide which incorporates accessibility
user personas and tips for ideation; accessibility in detailed
design; expert review; and hand off-review process.
Teams across the business completed self-assessments
against two Software Development Life Cycle (SDLC)
Accessibility Processes, followed by improvement plans.
We also deployed shift left best practices which integrate
accessibility considerations into the earliest stages of the SDLC.
To share our knowledge in this area, Accessibility Specialists
from across RELX presented six sessions at CSUN Assistive
Technology Conference 2025 (photographed right).
Increasingly customers need information from us in areas
ranging from our environmental performance and their share
of our carbon emissions, to the steps we take to ensure an
ethical supply chain. Since 2021 we have received a 160%
increase in customer requests for sustainability data.
In 2025 sales colleagues were surveyed to gain insights on
corporate responsibility related customer requests. Corporate
Responsibility teams shadowed sales colleagues to better
understand their processes and customer engagement
strategies. This cross-functional learning enables Corporate
Responsibility colleagues to create efficient and effective tools
and communications for sales colleagues. In the year customer
and product focused content was produced to highlight RELX’s
Unique Contributions, including a sustainability focused
product story published to coincide with COP30.
Relevant
SDGs
49
RELX
Annual Report 2025 | People
What makes RELX special
Our people tell us, through our annual employee opinion survey,
that they are engaged, motivated and committed and believe RELX
is a great place to work. We attract and retain talented people,
including those whose skills are in high demand.
Our competitive advantage is driven by our purpose, culture,
talent and a combination of behaviours and attributes, including:
§
Knowing our products and exactly how they add value for
our customers
§
Understanding emerging technologies and how they might
be used to add value
§
Being thought leaders
§
Being intellectually curious and eager to learn
§
Being fact based, analytical and data driven
We owe our success to RELX’s talented employees, including
technologists, researchers, event directors, product managers,
data scientists and many others. Our employees count on us to
create a fair, challenging, rewarding and supportive work
environment where they can achieve their potential.
For more information on our people and their working lives in
RELX, please see
www.relx.com/our-business/perspectives
.
Driving performance through culture
In RELX we set an expectation that everyone should take
ownership and be accountable for their actions, decisions and
outcomes. Everyone is encouraged to seek never-ending
performance improvement in every aspect of what they do,
driving execution and achieving results.
This is underpinned by defined and measurable annual goals
for all our people, as part of our Enabling Performance approach
to performance measurement and personal development.
Enabling Performance allows us to review achievement of
goals and identify opportunities for development, recognition
and advancement. This approach encourages regular
and impactful performance, development and career
conversations for all employees.
We recognise the value of leadership, whatever career stage
someone is at: whether this is their first role, or whether they
are leading a business area. We have a common language and
approach to leadership in RELX. For our senior leaders we set
specific behavioural expectations that will help them successfully
navigate their careers in RELX. Exceptional leadership is the
cornerstone of success at RELX.
Our commitment to careers
RELX employees are expected to understand their strengths
and areas for improvement and take individual ownership of,
and accountability for, pursuing their own personal
development. We ask employees to proactively look for
opportunities to build their career. We invest in tools to support
them, especially in identifying appropriate career paths. We aim
to provide our people with resources, tools and support to help
them perform and grow, including online training platforms that
were utilised by 76% of employees during 2025. We are helping
our people build skills for the future such as data analytics,
product and technology development (including AI), and product
ownership and management.
In 2025 we invested over $14m and around 500,000 hours in
centrally deployed training. This included courses, seminars,
one-to-one instruction and tuition reimbursement. Centralised
training is supplemented by additional training in business units.
Our CEO and the RELX business leaders care deeply about
helping our people to develop and actively participate in regular
organisational talent reviews that consider development needs
and opportunities at an individual level.
We also offer NetWorx, a global employee mentorship
programme. This digital mentoring platform recommends
matches based on individual profiles and specific goals, creating
six month long mentoring relationships. In 2025, the platform had
approximately 1,500 active users.
People
We owe our success to our people. They are driven by a strong sense of
purpose, and a supportive work environment where they can achieve
their full potential.
Rito Dipto
Strategic Engagement
Manager, Elsevier, UK
RELX has enabled me to grow in my
vocation while fostering a culture
of trust and psychological safety.
The organisation’s policies have
supported both my professional
ambitions and personal wellbeing,
making me even more committed
to showing up at my best, every day.
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
50
RELX
Annual Report 2025 | Corporate responsibility
Integrity at the heart of our business
We embrace integrity and high ethical standards and our RELX
Code of Ethics and Business Conduct provides the guidance
needed to make ethical business decisions. It explains how we
should behave in the workplace and marketplace and describes
how each of us should handle various legal and ethical matters,
providing helpful scenarios. The principles in our Code of Ethics
and Business Conduct are firmly embedded in the company and
we strongly encourage employees to speak up if they are
concerned about potential breaches. We have several channels
they can use, including our Integrity Line, to raise concerns and
have them investigated (see page 43). We see this as an important
factor in ensuring that our actions are in the best interests of our
company, employees, customers and shareholders.
Harnessing our talent
At the heart of our approach to inclusion, is the belief that everyone
should be able to succeed and grow in a business that values them.
Inclusion means feeling heard, contributing equally, with equal
access to opportunity – regardless of personal characteristics.
We encourage and promote inclusion and believe RELX derives
competitive advantage from the breadth of backgrounds, diverse
perspectives, opinions and differing ways of thinking that our
people bring to everything they do.
Inclusion policy
§
Sets out our commitment to an inclusive workforce
(available at
www.relx.com/cr-downloads
)
Employee Resource Groups
§
100+ active networks
External recognition
§
RELX was recognised in multiple categories at the 2025
Comparably awards including Best Leadership Team, Best
Company Outlook and Best Company, Perks and Benefits
RELX Employee Resource Groups (ERGs) encourage colleagues
to collaborate, advocate and engage communities around topics
of mutual interest. ERGs are open to everybody, and help
advance a culture of belonging. This is recognised by allowing
all employees to take two days paid time-off per year for
ERG-sponsored activities. In 2025, employees recorded over
22,300
^
ERG hours. We feature stories about our people and
purpose at
www.relx.com/our-business/perspectives
We are committed to creating an environment where everyone can
thrive, and provide reasonable accommodations and adjustments
to meet individual needs, ensuring everyone can participate fully
in the workplace.
In 2025, the percentage of people managers who are women
remained at 46%, and the number of women in our senior leader
population was 31%. At year end, women comprised 40% of the
Board. Non-Executive Director, Bianca Tetteroo serves as our
Workforce Engagement Director.
Our business relies heavily on technologists and we need to
attract the best talent to support our business ambitions. We
directly employ more than 9,300 technologists, 27% are women.
Health and safety
The importance of employee health and safety is emphasised in the
RELX Code of Ethics and Business Conduct and in the RELX Health
and Safety Policy available at www.relx.com. These documents
commit us to providing a healthy and safe workplace for all
employees and safe products and services for customers. The
CEO is responsible for health and safety on behalf of the Board.
We consult with employees globally on health and safety through
staff and works councils and reinforce good health and safety
practice through regular communications, including a designated
site with relevant information. We also hold regular Health and
Safety Committee meetings.
We monitor and ensure our buildings are maintained and comply
with relevant health and safety laws and standards, in conjunction
with third parties and landlords, where appropriate.
We provide tailored health and safety training to employees
and alongside third parties to help ensure compliance with local
health and safety rules and to promote best practice. This is
particularly important for employees at higher risk of injury in the
workplace. In the US, we engage a third-party specialist to inspect
locations that had increased incident rates. We also provide
employee support following any incident or health concern. There
were no work related deaths reported in 2025 and our frequency
rate (lost time incidents per 200,000 hours worked) was 0.02. The
majority of lost time incidents were due to road traffic accidents,
followed by slips, trips and falls.
For hybrid working, we provide support on health and safety
issues for both office and home working. During the past three
years over 5,900 employees have completed the training through
our Healthy Working programme which includes personalised
risk assessments and action plans.
RELX is also committed to fostering a psychologically safe and
supportive workplace through a comprehensive mental health
and wellbeing framework that spans all business areas. The
framework is rooted in proactive leadership, diverse support
mechanisms, and inclusive programming that addresses the
multifaceted wellbeing needs of employees globally.
2025 OBJECTIVE
Engage colleagues globally through our
Inspiring Inclusion programme
2025 PERFORMANCE
Our 2025 series of virtual events helped colleagues
understand and embrace the diversity of our global business.
The 2025 Belonging virtual conference brought together
employees globally to foster a shared commitment to
advocacy, learning and building an inclusive workplace.
^
Independently assured
51
RELX
Annual Report 2025 | People
2025 OBJECTIVE
Hold virtual wellbeing summit for
champions from across the business
2025 PERFORMANCE
RELX operates in a fast moving and dynamic environment.
We want to help our people to take care of themselves,
mentally and physically, so they can perform with clarity,
focus, stability and energy, and achieve their potential. In
2025 all employees, globally, were invited to participate in a
programme in association with OwnLife, intended to help
them sustain productivity while finding a better work-life
balance, and reducing their risk of burnout.
In 2025, we held our first RELX Wellbeing Summit bringing
together over 100 HR leads, ERG representatives, and
Mental Health First Aiders across 14 countries. The summit
highlighted practical tools for workplace wellbeing
advocates and focused on connection, care, and rejuvenation
for those colleagues that care for others. 94% of summit
attendees discovered useful tools and 100% learnt
something new. Additionally, we have a number of ongoing
wellness programmes such as Living Well, MindLife and
Thrive. Our global Employee Assistance Programme
provides valued professional support when someone needs
more personalised or urgent help with a work-related or a
personal issue. All of this is supported by a wide range of
policies that support employees in bringing their whole self
to work and in managing competing work and life priorities.
2025 OBJECTIVE
Continue to assess pay competitiveness
and pay equity across RELX
2025 PERFORMANCE
In 2025, we continued to monitor pay competitiveness and pay
equity across RELX. Compensation reviews twice a year allow
for pay increases to recognise performance and sustain
market competitiveness and internal equity.
We have robust and well-established reward mechanisms
across RELX, with a strong emphasis on performance, fairness,
equity and market competitiveness. Reward education is
provided for people managers to support them in understanding
key concepts – such as the steps we take to ensure people are
treated equitably – and to facilitate discussing them with
employees. In addition to pay, we have a wide range of employee
benefits that reflect the market norms in the countries in which
we operate. We keep pay equity under constant review, with an
ongoing programme to drive even greater equity and fairness.
2025
RELX people in numbers
FTE employees
37,600
Full-time employees (%)
95%
Part-time employees (%)
5%
Average length of service (years)
8
Total hours worked by all employees in the year
66m
Temporary workers (%)
3%
Contingent workers
1,700
Employees represented by a collective
bargaining agreement (%)
12%
Global HR information system coverage
100%
Turnover
Total turnover rate
11.1%
Voluntary turnover rate
7.2%
Involuntary turnover rate
3.9%
Training and development
Investment in training
$14m
Training hours
500,000
Employee engagement
71%
Reward
Employees with variable pay opportunities
79%
Employees with access to share purchase
programmes (US/UK/NL)
55%
Absence
Absence rate (number of unscheduled absent days
out of total days worked in 2025, UK and NL)
0.87%
US Family Medical Leave Act requests
1,101
Inclusion
Employees who are women
51%
Managers who are women
46%
Senior leaders who are women
31%
2026 objectives
By 2030
Belonging
– Continue to engage colleagues globally through
our Inspiring Inclusion programme, aligned with SDG 10
(Reduced Inequalities)
Wellbeing
– Second virtual well-being summit to convene
wellness champions across RELX to share best practice and
provide new tools to support physical and mental wellbeing,
in support of SDG 3 (Good Health and Well-Being)
Pay equity
– Continue to assess pay competitiveness and pay
equity, aligned with SDG 8 (Decent Work and Economic Growth)
Continued high-performing and satisfied workforce
through talent development, inclusion and well-being
Market segments
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and other information
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Overview
Relevant
SDGs
52
RELX
Annual Report 2025 | Corporate responsibility
RELX Cares, our global community programme, supports
employee volunteering and giving that makes a positive impact
on society. The mission of RELX Cares is education for
disadvantaged young people that advances one or more of our
unique contributions as a business, including protection of society
and reducing inequalities, advancing science and improving
health outcomes, furthering the Rule of Law and access to justice
and fostering communities. Employees have up to two days’ paid
leave per year for their own community work. A network of
220 RELX Cares Champions ensures the vibrancy of our
community engagement.
In 2025, we held the 15th Recognising Those Who Care Awards to
highlight colleagues who have made outstanding contributions to
RELX Cares. The eight winners of the individual award travelled to
visit charity projects in the Philippines hosted by our colleagues at
Reed Elsevier in the Philippines. In addition, one individual was
awarded extra RELX Cares volunteering days and two individuals
and two teams were given the opportunity to make a donation to
the charity of their choice.
220
A network of 220 RELX Cares Champions ensures the
vibrancy of our community engagement
Community
We help our local and global communities thrive by contributing
to their success.
Volunteering allows us to unite our
collective strength for meaningful
change. Nothing is more rewarding
than seeing our shared efforts
strengthen community bonds and
create tangible impact.
The mission of RELX Cares is education for
disadvantaged young people that furthers
one or more of our unique contributions as
a business, including universal, sustainable
access to information.
Elora Wang
Executive Assistant,
RX, China
2025 OBJECTIVE
Update RELX Cares Champions materials
and continue to increase engagement and
participation
2025 PERFORMANCE
In the year we updated existing assets and created new
materials for RELX Cares Champions, among them the
RELX Cares Champions Handbook to help RELX Cares
Champions understand their role as catalysts in supporting
colleagues to take part in volunteering, giving and other
RELX Cares activities.
We created new downloadable posters to advertise RELX Cares
events, an email signature that tells people they are RELX
Cares Champions, an email template to promote RELX Cares
activities and a RELX Cares T shirt design.
We increased engagement in our flagship programme,
Recognising Those Who Cares with a 17% increase in
applications for the awards which celebrates RELX employees
who have made outstanding contributions to RELX Cares.
We have continued to convene bi-monthly RELX Cares
Champions meetings to engage employees around the world.
The Recognising Those Who Care programme
spotlights colleagues whose passion and
commitment to their communities embodies the spirit
of RELX Cares. Serving as a judge for the awards has
been incredibly rewarding in discovering how the
nominees’ dedication is inspiring our teammates
around the world and making a real difference.
Jonathon Woods
Director, Corporate Communications
LexisNexis Legal & Professional
53
RELX
Annual Report 2025 | Community
Each September, we hold RELX Cares Month to celebrate our
commitment to our communities around the world. During the
Month, over 4,000 colleagues across RELX took part in hundreds
of volunteering and fundraising events. These included employees
in the UK who recorded audio books for sick children; colleagues
from LexisNexis Risk Solutions US who painted skateboards for
disadvantaged children; Elsevier India colleagues who mentored
young people from an educational charity; LexisNexis Legal &
Professional New Zealand who took part in a beach clean-up; and
colleagues at RX China who worked with a charity providing horse
riding for children with special needs.
Giving
Our central donations programme aligns with the RELX Cares
mission. Employees serve as sponsors for charities seeking
funding, which must in turn indicate how they help further one or
more of RELX’s unique contributions.
RELX Cares Champions vote on submissions using decision
criteria such as value to the beneficiary and opportunities for
staff engagement. In 2025, RELX Cares Champions donated
£334,242 to 29 charities supporting over 120,000 young people.
Projects included:
§
In the US, giving underserved Philadelphia teenagers the
chance to take part in outdoor expeditions
§
In Poland, funding social integration and creative programmes
for Ukrainian child refugees
§
In India, providing free education to children in a vulnerable
Delhi resettlement colony
In managing community involvement, we apply the same rigour
as we do to other aspects of our business. Read our methodology
at
www.relx.com/additional-cr-resources
.
We extended our partnership with our global fundraising partner,
Save the Children, until 2027. Since 2022, the partnership has
raised more than £200,000, including through marathon running,
quiz nights and taking part in Save the Children’s Christmas
jumper day, and we have pledged to raise at least another
£80,000 by 2027. The funds support Save the Children’s work in
90 countries, through emergency response and long-term
programmes, the charity has an immediate and lasting impact on
the lives of millions of children around the world.
We donated £5m in cash (including through matching gifts), and
£15m in products, services and staff time (market-value) in 2025.
Some 38% of employees were engaged in volunteering through
RELX Cares. According to 2025 Business for Societal Impact (B4SI)
data, the average volunteering rate was 27.2% for our sector and
24.8% for all sectors.
We encourage in-kind contributions, such as product and
equipment donations, aligned with our Product Donation Policy
(available at www.relx.com/cr-downloads), which included books,
access to content, and discounted charity rates for some products.
Book donations: supporting education
While print is a relatively small portion of our revenue, we
continue to minimise the impact of printed product. We focus
on techniques such as print on demand or print run control
to better match production to demand.
We donate excess product to charity partners such as Book
Aid International and Books for Africa to avoid waste and
benefit communities.
In 2025, RELX donated over 143,000 books with a value
of over $11m to our charity partners.
Book Aid International
RELX has been a Book Aid International partner for over
30 years through regular book donations, financial support,
staff fundraising and volunteering. RELX donations of higher
education and medical books are critical to educating the
next generation around the world.
In 2025, we supported them by donating 16,476 new books
and providing a grant to open a new Children’s Corner in
Bamenda, Cameroon. Every Children’s Corner creates a
vibrant reading space stocked with UK donated and
nationally published books that is staffed by a specially
trained librarian ready to welcome children into a world
of reading. The space is especially valuable in Bamenda,
where children are living with the effects of an eight-year
conflict that has closed schools and forced thousands from
their homes. In these challenging circumstances, the new
Children’s Corner will give hundreds of children the chance
to find respite in stories.
For over 30 years, RELX has joined us in
sharing the power of books with readers
around the world. The hugely valuable books
RELX provides have helped so many midwives,
doctors and nurses qualify and go on to provide
life-saving care and supported countless
students around the world in earning degrees.
RELX’s grants have opened beautiful reading
spaces where children can explore a whole
new world of stories. I would like to thank RELX
for their long-standing support – your gifts are
truly transformational.
Alison Tweed
Chief Executive, Book Aid International
Photo credit: Cynthia R Matonhodze/Book Aid International.
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview
54
RELX
Annual Report 2025 | Corporate responsibility
Impact
In accordance with the B4SI model, we monitor the short- and
long-term benefits of the projects with which we are involved.
We ask beneficiaries to report on their progress to increase
transparency and engagement.
In addition, we survey RELX Cares volunteers on the impact the
programme has on their work following each volunteer activity.
In 2025, we received over 15,400 responses, 89% of respondents
said their motivation and pride in RELX had increased as a result
of volunteering and 87% said they had experienced a positive
change in behaviour or attitude as a result of volunteering.
In-kind
51%
Cash
26%
Time
23%
What we contributed in 2025 (market value)
Market value cash, in-kind and time donations (GBPm)
Community involvement
Market value cash, in-kind and time donations (GBPm)
2025
2021
2023
2024
2022
21
23
23
20
23
Elsevier Foundation
This year we celebrated 20 years of the Elsevier Foundation
which has donated $18 million in grants to over 100 partners in
more than 70 countries around the world to advance inclusive
research and health. The Foundation shared its first Impact
Report in the year with key statistics and partnership case
studies on research equity, inclusive health and climate
action, including Envisioning Futures: Women’s leadership
and gender equity in Japanese research with RIKEN, the
leading Japanese research institute. They also introduced a
new alumni programme connecting past award winners with
Elsevier editors, featuring them in Elsevier webinars and
amplifying their work through our networks and hosting a
reception for the Elsevier Foundation Awards for Early-Career
Women Scientists in the Developing World alumni at the
Organization for Women in Science for the Developing World
General Assembly in Bogota, Colombia in November 2025.
In 2025 the Elsevier Foundation also launched a partnership
with Swasti, an Indian public health nonprofit, to support
healthcare workers in addressing challenges posed by
climate change through its Climate Care Champions
programme. The $50,000 grant is equipping frontline
healthcare workers with essential skills to manage
climate-induced health impacts. Two districts were chosen
for the pilot based on heat index severity involving 90 health
professionals, who then trained over 2,200 frontline health
workers. Results have led to an increase in accurate
identification of heat-related illnesses and the creation
of a first district Heat Action Plan.
For 20 years, the Elsevier Foundation has
invested in a pragmatic, partnership-driven
approach to advancing inclusive research and
health. By combining our partners’ on-the-
ground expertise with Elsevier’s content, data,
analytics and networks, together we have
created a multiplier effect – delivering greater
impact and contributing to meaningful change.
Ylann Schemm
Executive Director, Elsevier Foundation
55
RELX
Annual Report 2025 | Community
2026 objectives
By 2030
Employee community engagement
– Hold first virtual global
RELX Cares Champions Summit to continue advancing flagship
RELX Cares programme across the business in support of SDG
17 (Partnerships for the Goals)
Philanthropic giving
– Introduce new technology platform to
streamline central giving and to improve impact reporting, in
support of SDG 17 (Partnerships for the Goals)
Through our unique contributions, and investments with
partners, contribute to significant, measurable advancement
of education for disadvantaged young people
Jeffrey P Mladenik and Andrew
Curry-Green Memorial Scholarship
As a lasting memorial to our colleagues Jeffrey Mladenik
and Andrew Curry-Green, who lost their lives on 9/11, we
offer scholarships in their name to children of eligible
employees.
Ayush Tailang (left) son of Sameer Tailang, Principal
Software Engineer for Risk in Atlanta, is passionate about
business and technology. Ayush graduated from high school
with Honors and is now a freshman at the University of
Georgia where he is studying Management Information
Systems at the Terry College of Business. Ayush has earned
an IT specialist certification and consistently places among
the top rank in a range of technology competitions. He is a
member of the National Honor Society and the National
Technical Honor Society. Outside of academics, Ayush
competes in dance tournaments, plays alto-saxophone and
is involved in varsity athletics.
Brooke Healey (right), daughter of Chris Healey, Customer
Success Manager for Risk, graduated from high school with a
4.5 GPA and in the top two percent of her class. She has a passion
for science, particularly environment and earth sciences. She
played varsity volleyball and was also a member of the National
Honor Society, Spanish Honor Society, Maths Honor Society and
the California Scholarship Foundation, where she volunteered
over 100 hours per year, earning her the President’s Volunteer
Service Award. She was also a member of her high school’s
environment club. Brooke is attending the University of
California, Los Angeles and will major in environmental science.
2025 OBJECTIVE
Continue to improve our capability to
respond to disasters and emergencies,
exploring how we can donate our
products and services to further
relief and preparedness
2025 PERFORMANCE
In the year, our Disaster and Emergency Committee brought
together business continuity, corporate responsibility and
philanthropy colleagues for a more collaborative and
coordinated response to emergencies and disasters. During
2025, we donated funds to Save the Children, World Central
Kitchen and The Red Cross to support relief efforts around the
world including for those affected by the Californian wildfires,
earthquakes in Myanmar and Afghanistan, Hurricane Melissa
in Jamaica and Typhoon Fung-wong in the Philippines.
In 2025, RELX was nominated by Save the Children for
Outstanding Support for Children in Emergencies at their
Partnership Awards. We also contributed to a Business for
Societal Impact (B4SI) project, sharing insights on our disaster
response and were cited by B4SI as a best practice company
in disaster relief.
The 2025 RELX SDG Inspiration Day, The Future of
Philanthropy, featured a panel exploring the role of corporate
charity partnerships in disaster response. Panellists
shared insights on maximising impact in times of crisis and
emphasised the importance of integrating preparedness
with recovery strategies, aligning corporate resources with
humanitarian needs, and building resilient partnerships
that address immediate issues whilst also contributing to
sustainable recovery.
RELX’s support of Save the Children’s emergency
fund has enabled us to respond to children’s needs
throughout the year. Despite cuts in overseas aid,
ongoing crises, and the unpredictable geopolitical
landscape, it is thanks to supporters like RELX that we
are meeting those challenges and holding true to our
mission to bring immediate, lasting and positive
change for children.
Lisa Aubrey
Director of Fundraising & Engagement, Save the Children UK
Photo credit: Save the Children Philippines.
Market segments
Governance
Financial statements
and other information
Financial review
Corporate responsibility
Overview