LSEG Updates Preliminary Results for 2020

The London Stock Exchange Group (LSEG) has published its preliminary financial results for the financial year ended 31 December 2020.

In FY2020, LSEG saw some key financial highlights including:

· Total revenue up 3% to £2,124 million (2019: £2,056 million) and total income up 6% to £2,444 million (2019: £2,314 million) 

· Post Trade revenue up 7% to £751 million (2019: £700 million), driven by strong growth in LCH; record activity in CDS, FX and cash equities clearing; total income up 12% to £1,070 million (2019: £955 million), largely reflecting higher cash margin held 

· Capital Markets revenue broadly flat on a reported basis at £427 million, and up 8% on a like-for-like basis excluding the one-off benefit of an IFRS 15 adjustment in prior year with strong performance in secondary markets

· Adjusted operating expenses, before depreciation and amortisation, were up 6% to £887 million (2019: £839 million)  

· Adjusted operating profit up 5% to £1,118 million (2019: £1,065 million); operating profit up 2% to £755 million (2019: £738 million); adjusted EBITDA up 5% to £1,329 million (2019: £1,265 million) and EBITDA margin of 54.4%

· Proposed final dividend of 51.7 pence per share, resulting in a 7% increase in the full year dividend to 75.0 pence per share, reflecting good performance and confident outlook for the new Group

Commenting on performance for the year, David Schwimmer, Chief Executive Officer, LSEG said: "The Covid-19 pandemic and broader geo-political events presented unprecedented challenges in 2020. Despite this environment, and with the vast majority of employees working remotely across our global locations, LSEG has delivered for its customers and provided a strong financial performance, demonstrating strong operational resilience. We continue to innovate and work in partnership with our customers to develop our services, in areas such as reference rate reform and sustainable investment.”