Key financial data

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  2012 (3) 2013 2014 2015
Year to 31 December £m€m £m€m £m€m £m€m
Income statement      
Revenue 6,1167,523 6,0357,121 5,7737,159 5,9718,240
Underlying revenue growth % (1) +3%+3% +3%+3% +3%+3% +3%+3%
Reported operating profit 1,3331,640 1,3761,624 1,4021,738 1,4972,066
Adjusted operating profit (2) 1,6882,076 1,7492,064 1,7392,156 1,8222,514
Underlying adjusted operating profit growth % (1) +6%+6% +5%+5% +5%+5% +5%+5%
Adjusted net interest expense (216)(265) (177)(209) (147)(182) (153)(211)
Adjusted profit before tax (2) 1,4721,811 1,5721,855 1,5921,974 1,6692,303
Adjusted tax (346)(426) (370)(436) (374)(464) (388)(535)
Tax rate % 23.5%23.5% 23.5%23.5% 23.5%23.5% 23.2%23.2%
Non-controlling interests (5)(6) (5)(6) (5)(6) (6)(8)
Adjusted net profit (2) 1,1211,379 1,1971,413 1,2131,504 1,2751,760
Reported net profit 1,0441,284 1,1101,310 9551,184 1,0081,391
Adjusted earnings per share 49.4p€0.608 54.1p€0.638 56.3p€0.698 60.5p€0.835
Reported earnings per share (4)(5)
- PLC- NV 45.0p€0.583 49.0p€0.609 43.0p€0.568 46.4p€0.682
(1) Underlying growth rates are calculated at constant currencies and exclude the results of acquisitions and disposals made in both the year and prior year and of assets held for sale. Underlying revenue growth rates also exclude the effects of exhibition cycling.
(2) Adjusted figures primarily exclude the amortisation of acquired intangible assets and other items related to acquisitions and disposals, and the associated deferred tax movements
(3) 2012 information has been restated following adoption of IAS 19 - Employee Benefits (revised).
(4) RELX NV reported earnings per share has been adjusted retrospectively to reflect the bonus issue of shares declared on 30 June 2015.
(5) The shares of RELX PLC and RELX NV are regarded as two separate classes of share which together form the issued consolidated share capital of the Group. In calculating earnings per share of the Group, the earnings for each class of share are calculated on the basis that earnings are fully distributed. The Group's usual practice is for only a portion of earnings to be distributed by way of dividends. Until the end of 2015, dividends paid to RELX PLC and RELX NV shareholders were, other than in special circumstances, equalised at the gross level inclusive of the prevailing UK tax credit available to certain RELX PLC shareholders. The allocation of earnings between the two classes of shares reflects this differential in dividend payments declared, with the balance of earnings assumed to be distributed as a capital distribution, in equal amounts per share.



Business area analysis
  2012 2013 2014 2015
Year to 31 December £m £m £m £m
Revenue      
Scientific, Technical & Medical 2,063 2,126 2,048 2,070
Risk & Business Analytics 1,589 1,480 1,439 1,601
Legal 1,610 1,567 1,396 1,443
Exhibitions 854 862 890 857
  6,116 6,035 5,773 5,971
Underlying revenue growth (1)      
Scientific, Technical & Medical 2% 2% 2% 2%
Risk & Business Analytics 5% 6% 6% 7%
Legal 1% 1% 1% 1%
Exhibitions 7% 7% 7% 5%
  3% 3% 3% 3%
Adjusted operating profit (2)      
Scientific, Technical & Medical 780 787 762 760
Risk & Business Analytics 511 507 506 575
Legal 234 250 260 274
Exhibitions 210 210 217 217
Unallocated items (3) (47) (5) (6) (4)
  1,688 1,749 1,739 1,822
Underlying adjusted operating profit growth (1)      
Scientific, Technical & Medical 4% 3% 3% 3%
Risk & Business Analytics n/a 9% 6% 7%
Legal 4% 5% 6% 7%
Exhibitions 20% 4% 9% 2%
  6% 5% 5% 5%
(1)Underlying growth rates are calculated at constant currencies and exclude the results of acquisitions and disposals made in both the year and prior year and of assets held for sale. Underlying revenue growth rates also exclude the effects of exhibition cycling.
(2) Adjusted figures primarily exclude the amortisation of acquired intangible assets and other items related to acquisitions and disposals, and the associated deferred tax movements.
(3) 2013 adjusted operating profit by business area was restated following the adoption of a new method for the allocation of corporate and shared costs. 2012 adjusted operating profit by business area reflects the old methodology.