United Kingdom · Delayed Price · Currency is GBP · Price in GBX London Stock Exchange Group Earnings Call Transcripts
Fiscal Year 2026
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Organic revenue rose 8.8% in Q3, prompting higher 2026 growth, margin and cash guidance. AI adoption accelerated, while Octus and Trumid transactions expand fixed-income capabilities and growth opportunities.
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Strong H1 results with 8.4% organic revenue growth, 17% EPS growth, and 37% free cash flow per share growth. Guidance for full-year revenue and margin was raised, with robust performance across all divisions and continued innovation in AI and digital platforms.
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Record Q1 revenue growth of nearly 10% was driven by strong performance in subscription and markets businesses, with accelerated adoption of AI-ready data and digital solutions. Over GBP 3 billion will be returned to shareholders in the next 12 months.
Fiscal Year 2025
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FY25 revenue grew 7.6% and adjusted EPS 15.7%, with 210 bps of margin expansion and record £2.45bn free cash flow. FY26 guidance calls for 6.5%-7.5% organic growth, at least £2.7bn free cash flow and a further £3bn buyback.
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LSEG showcased its transformation into a data-driven, AI-enabled leader, emphasizing proprietary, AI-ready data, deep customer integration, and strategic partnerships, especially with Microsoft. Workspace and Open Directory drive workflow innovation, while new monetization models and long-term agreements support growth ambitions.
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Organic growth reached 6.4% in Q3, with all divisions contributing and margin guidance raised to the top of the range. A major post-trade deal with 11 global banks will boost margins and EPS, while accelerated buybacks and strong AI/data partnerships support future growth.
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H1 2025 saw 8.7% revenue growth, 150 bps EBITDA margin expansion, and over 20% adjusted EPS growth, with all segments contributing and strong cash generation supporting GBP 2 billion in buybacks for 2025. Guidance for margin and capital intensity was raised, and innovation in AI and cloud is accelerating future growth.
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Risk Intelligence is experiencing strong, recurring revenue growth driven by digitalization, regulatory expansion, and increased demand for fraud prevention. Investments in cloud, AI, and product integration are enhancing scalability and efficiency, while the business expands into new sectors and geographies.
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Total income grew 8.7% year-over-year, with strong organic growth across Data & Analytics, FTSE Russell, and New Markets. Guidance was reaffirmed, and ongoing innovation and product launches, including with Microsoft, are expected to support future growth.
Fiscal Year 2024
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Delivered 8.4% revenue growth and 80bps margin expansion in 2024, with strong performance across all divisions and robust cash flow supporting increased dividends and buybacks. 2025 guidance targets 6.5%-7.5% revenue growth, further margin improvement, and continued investment in innovation and partnerships, especially with Microsoft.
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Q3 delivered strong organic growth, with total income up 9.5% and robust performance across all segments, especially in Capital Markets and FTSE Russell. The group remains confident in continued growth for 2025, with stable ASV and pricing increases expected.
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Post trade activities are experiencing robust growth, driven by global market expansion, regulatory changes, and demand for capital efficiency. Key opportunities lie in FX and uncleared markets, with ongoing investment in technology and regional products supporting future growth.
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Revenue grew 7.6% year-over-year in H1 2024, with margin expansion, strong cash flow, and broad-based growth across all business lines. Strategic partnerships and product innovation are driving customer wins and operational efficiency, while guidance remains for accelerating revenue and margin growth post-2024.