March 24, 2018

Elsevier (RELX Group) Publishes 2017 Financial Results

UPDATED Feb.22, 2017 The complete Elsevier/RELX Group 2017 Annual Report is now available.
196 pages; PDF.

Below, find key 2017 financial results (overall) and news about a “simplification” of RELX Group corporate structure (pending shareholder approval).

Then, some data about specific business segments

From the 2017 Results Document:

  • Underlying revenue growth +4%; full year reported total £7,355m/€8,385m
  • Underlying adjusted operating profit growth +6%; full year total £2,284m/€2,604m
  • Adjusted EPS growth constant currency +7%; in sterling +12% to 81.0p (72.2p); in euro +5% to €0.923 (€0.880)
  • Reported operating profit £1,905m (£1,708m); €2,172m (€2,084m)
  • Reported EPS 82.2p (56.3p); €0.936 (€0.687)
  • Proposed full year dividend growth: +10% to 39.4p for RELX PLC; +6% to €0.448 for RELX NV
  • Return on invested capital up 0.1 percentage points to 13.1%
  • Strong financial position & cash flow; leverage 2.2x EBITDA, pensions & lease adjusted (1.9x unadjusted)
  • £700m of share buybacks completed in 2017; announcing total of £700m for 2018

Further simplification of corporate structure

  • Dual parent holding company structure to be simplified into a single parent company RELX NV shareholders to receive one RELX PLC share in exchange for each RELX NV share held
  • Single parent to be listed in London, Amsterdam and New York
  • No impact on RELX Group headquarters or business unit locations, activities or staffing levels
  • No change to strategy; cost and profit neutral, before and after tax
  • New structure to be implemented in Q3 2018, subject to shareholder

From the 2017 Financials Document (Page 5)


From the Principal Risks Section of the Document (Page 15)


Direct to Complete 2017 Results Document

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Gary Price ( is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. Before launching INFOdocket, Price and Shirl Kennedy were the founders and senior editors at ResourceShelf and DocuTicker for 10 years. From 2006-2009 he was Director of Online Information Services at, and is currently a contributing editor at Search Engine Land.