Revenue, operating profit and segment analysis

Summary of classification of revenue


2023	Risk Restated GBPm	Scientific, Technical & Medical Restated GBPm	Legal Restated GBPm	Exhibitions GBPm	Print & print- related activities Restated GBPm	Total Restated GBPm
Revenue by geographical market
North America	2,573	1,108	1,146	217	342	5,386
Europe*	423	593	334	427	131	1,908
Rest of world	228	880	175	471	113	1,867
Total revenue	3,224	2,581	1,655	1,115	586	9,161

Revenue by format
Electronic	3,210	2,574	1,646	85	-	7,515
Face-to-face	14	7	9	1,030	-	1,060
Print	-	-	-	-	586	586
Total revenue	3,224	2,581	1,655	1,115	586	9,161

Revenue by type
Subscriptions	1,330	2,107	1,363	-	176	4,976
Transactional	1,894	474	292	1,115	410	4,185
Total revenue	3,224	2,581	1,655	1,115	586	9,161

2 Revenue, operating profit and segment analysis (continued)


2024	Risk Restated GBPm	Scientific, Technical & Medical Restated GBPm	Legal Restated GBPm	Exhibitions GBPm	Print & print- related activities Restated GBPm	Total Restated GBPm
Revenue by geographical market
North America	2,658	1,126	1,188	231	292	5,495
Europe*	439	603	351	527	105	2,025
Rest of world	239	895	179	481	120	1,914
Total revenue	3,336	2,624	1,718	1,239	517	9,434

Revenue by format
Electronic	3,320	2,618	1,707	83	-	7,728
Face-to-face	16	6	11	1,156	-	1,189
Print	-	-	-	-	517	517
Total revenue	3,336	2,624	1,718	1,239	517	9,434

Revenue by type
Subscriptions	1,329	2,110	1,432	-	154	5,025
Transactional	2,007	514	286	1,239	363	4,409
Total revenue	3,336	2,624	1,718	1,239	517	9,434

2025

 

Risk
GBPm

 

Scientific, Technical
& Medical
GBPm

 

Legal
GBPm

 

Exhibitions
GBPm

 

Print & print-
related activities
GBPm

 

Total
GBPm

Revenue by geographical market

North America

2,749

1,161

1,229

237

219

5,595

Europe*

469

619

391

424

97

2,000

Rest of world

267

934

186

525

83

1,995

Total revenue

3,485

2,714

1,806

1,186

399

9,590

Revenue by format

Electronic

3,475

2,707

1,794

94

-

8,070

Face-to-face

10

7

12

1,092

-

1,121

Print

-

399

Total revenue

3,485

2,714

1,806

1,186

399

9,590

Revenue by type

Subscriptions

1,363

2,168

1,527

-

132

5,190

Transactional

2,122

546

279

1,186

267

4,400

Total revenue

3,485

2,714

1,806

1,186

399

9,590

*	Europe includes revenue of £634m from the United Kingdom (2024: £613m; 2023: £602m).

Summary of analysis by reported segment expenditure


ANALYSIS BY REPORTED SEGMENT		Expenditure on acquired goodwill and intangible assets				Capital expenditure additions				Amortisation of acquired intangible assets				Total depreciation and other amortisation
		Restated 2023 GBPm	Restated 2024 GBPm	2025 GBPm		Restated 2023 GBPm	Restated 2024 GBPm	2025 GBPm		Restated 2023 GBPm	Restated 2024 GBPm	2025 GBPm		Restated 2023 GBPm	Restated 2024 GBPm	2025 GBPm
Risk		79	-	249		139	148	156		194	184	175		92	99	102
Scientific, Technical & Medical		3	8	5		107	103	116		59	44	39		133	123	124
Legal		42	145	-		193	203	225		11	15	20		242	252	239
Exhibitions		8	65	20		37	29	27		16	15	14		39	45	34
Print & print-related activities		-	-	-		1	1	1		-	-	-		8	6	5
Total		132	218	274		477	484	525		280	258	248		514	525	504

Summary of reconciliation of operating profit to adjusted operating profit


RECONCILIATION OF OPERATING PROFIT TO ADJUSTED OPERATING PROFIT		2023 GBPm	2024 GBPm	2025 GBPm
Operating profit		2,682	2,861	3,027
Adjustments:
Amortisation of acquired intangible assets		280	258	248
Acquisition and disposal related items		56	69	54
Reclassification of tax in joint ventures and associates		12	12	14
Reclassification of finance income in joint ventures and associates		-	(1)	(1)
Adjusted operating profit		3,030	3,199	3,342