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    George Webb • Morgan Stanley

    George Webb's questions to RELX PLC (RELX) leadership

    George Webb's questions to RELX PLC (RELX) leadership • H1 2025

    Question

    George Webb of Morgan Stanley inquired about the monetization strategy for co-created products with Harvey, the relative magnitude of the print revenue decline between the STM and Legal segments, and any notable shifts in demand from the US government. He also asked for full-year margin guidance for the Exhibitions division.

    Answer

    CEO Erik Engstrom described the Harvey collaboration as an exploratory pilot on specific use cases, with the monetization model yet to be determined. CFO Nick Luff noted the print reduction affected both STM and Legal, with the focus being on profit retention. Engstrom added that US government demand has remained consistent. Luff guided that the full-year Exhibitions margin would see a 'decent improvement' but would be lower than H1 due to normal seasonality.

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    George Webb's questions to RELX PLC (RELX) leadership • H1 2025

    Question

    George Webb of Morgan Stanley inquired about the monetization strategy for co-created products with Harvey, the relative decline of print revenue in STM versus Legal, demand patterns from the US government, and full-year margin expectations for the Exhibitions segment.

    Answer

    CEO Erik Engstrom described the Harvey collaboration as an exploratory pilot for specific use cases, with the commercial model still being developed. CFO Nick Luff noted that while the print decline affected both STM and Legal, the focus remains on retaining profit, not the revenue line which can have step-downs. Engstrom added that demand from the US government has remained consistent. Luff guided for a 'decent improvement' in full-year Exhibitions margin, though lower than H1 due to normal seasonality.

    Ask Fintool Equity Research AI

    George Webb's questions to RELX PLC (RELX) leadership • H1 2025

    Question

    George Webb of Morgan Stanley inquired about the monetization strategy for co-created products with Harvey, the relative print decline across STM and Legal, any demand shifts from the US government, and guidance on the full-year Exhibitions margin.

    Answer

    CEO Erik Engstrom described the Harvey collaboration as an exploratory pilot for specific use cases, with no monetization model declared yet. He also noted that US government demand has been consistent with prior years. CFO Nick Luff added that the print decline affected both STM and Legal, and guided that full-year Exhibitions margins would see a decent improvement but would be seasonally lower than H1.

    Ask Fintool Equity Research AI