Filing Flows › Relx (RELX) › H1 2025
Relx (RELX) H1 2025 earnings results (H1 2025)
6-K filed Jul 24, 2025
Relx (RELX) reported revenue of $4.7B for the H1 2025 (H1 2025), +2% from a year earlier. Operating margin was 31.4%, net earnings $979M (20.6% of revenue).
Relx, H1 2025: revenue $4.7B (+2% year over year), operating margin 31.4%, net earnings $979M, operating cash flow $1.9B. The chart follows the revenue to costs, profit and cash.
| H1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.7B | — | +2% |
| Gross profit | $3.1B | — | +4% |
| Operating profit | $1.5B | — | +4% |
| Net earnings | $979M | — | -0.7% |
| Operating cash flow | $1.9B | — | +8% |
| Free cash flow | $1.8B | — | +8% |
What changed
Revenue was £4.7B in H1 2025, up 2% year over year. Risk was the largest line at 37% of revenue. Risk added £0.08B year over year (up 5%), 81% of the total change. Print & print-related activities declined 21%.
Gross margin was 66.3%, up 0.9 points from a year earlier. Operating profit was £1.5B, a 31.4% margin (up 0.6 points year over year). Of the extra revenue versus a year earlier, 59% reached operating profit, above the 31% margin then. Operating expenses grew 3% against revenue growth of 2%. Net earnings were £1.0B, down 1% year over year. The effective tax rate was 23.7%.
Operating cash flow was £1.9B (up 8% year over year), 190% of net earnings. Working capital and other items added £0.88B. Capital expenditures of £0.01B left free cash flow of £1.8B.
Questions
What was Relx's revenue in the H1 2025?
Relx (RELX) reported revenue of $4.7B for the H1 2025 (H1 2025), +2% from a year earlier.
Was Relx profitable in the H1 2025?
Operating profit was $1.5B (31.4% of revenue) and net earnings $979M.
Source: Relx 6-K on SEC EDGAR.