Reed Elsevier is a world leading provider of professional information and online workflow solutions in the science, medical, legal, risk information and analytics, and business sectors. Total revenue for the year ended 31 December 2008 was £5,334m.
Based in over 200 locations worldwide, Reed Elsevier creates authoritative content delivered through market leading brands, enabling our customers to find the essential data, analysis and commentary to support their decisions. Our content and solutions are increasingly embedded in the workflows of our customers making them more effective and Reed Elsevier a more valued partner.
Reed Elsevier is well positioned in markets with attractive long term growth prospects and has a clear investment led growth strategy focused on building revenue momentum across all businesses.
In 2008, 47% of revenue was derived from subscription fees and other annuity type revenue streams. An increasing proportion of revenue was also generated from online products. In 2008, over 50% of revenue was derived from online sources.
Long term growth in our markets is expected to be sustained by the continuing demand for professional information. In addition, professionals are looking for significant improvements in productivity through access to highly functional online services and workflow solutions.
Reed Elsevier has been implementing an important reshaping of the business, with the strategic goal of moving more assets away from slower growth, cyclical advertising/print based sectors, and more towards faster growth, less cyclical online based sectors. In 2007 and early 2008 we completed the sale of the Harcourt Education business and in September 2008 we completed the acquisition of ChoicePoint which transforms our position in the attractive risk information and analytics sector. The planned divestment of Reed Business Information announced in February 2008 was put on hold given the poor credit markets and macroeconomic environment; it however remains the intention to divest RBI in the medium term when market conditions are more favourable.