Lsl Property Services Plc · LSE:LSL
Lsl Property Services — Investor Presentation (November 2025)
15 slides from Lsl Property Services's investor presentation, November 2025
Slide 1: LSL Group: An Introduction
LSL Group: An Introduction Capital light B2B platform for UK residential property market services November 2025
Slide 2: Delivering critical services to the UK's property eco-system
LSL | Delivering critical services to the UK’s property eco-system Our Empowering smart property decisions purpose We deliver trusted property services powered by data and expertise to enable people and Our mission businesses to thrive Our vision The UK’s most trusted platform connecting people to p
Slide 3: Surveying & Valuation
Surveying & Valuation What we get paid for Our scale • Property valuations for lenders - fee per • c.500k valuations annually, 37% market job (c.90%) share • Home surveys to consumers • 5 of 6 largest lenders • Data sales • National coverage Our competitive edge Organic growth opportunities • Deep,
Slide 4: Financial Services
Financial Services What we get paid for Our scale • Share of mortgage procuration fees paid • Write over 1 in 10 mortgages across the by lenders UK • Share of protection and insurance • 1,100 firms and 2,600+ advisers commission fees from providers • £47bn lending • Broker supervision fees and other
Slide 5: Estate Agency Franchising
Estate Agency Franchising What we get paid for Our scale • Royalties relating to housing sale • c. 300 branches (exchange, conveyance, FS) • c. 37,000 lettings portfolio • Royalties relating to letting properties • Over 50% UK postcode coverage • Additional services to franchisees such as client acc
Slide 6: LSL has undergone a major transformation
LSL has undergone a major transformation Remodeled. Restructured. Sold. Cut costs. Streamlined. Invested. Underlying Operating Group costs (£m) ROCE Margin 13.2% 15.1% 11.5% 5.3% 16.0% 232 278 287 167 146 16% 19% 24% 13% 32% FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24
Slide 7: Focused and resilient – with the platform for growth
Focused and resilient – with the platform for growth Capital-light, Financial Scale and Simpler, resilient strength, with presence in focused Group business disciplined attractive model investment markets 7
Slide 8: 2024 | Significant recovery in profitability and operating cash flow, dividend maintained
2024 | Significant recovery in profitability and operating cash flow, dividend Market Cap (at 18 Sep 2025): c. maintained £300m Group Revenue (£m) Group Underlying Operating Profit (£m) | Margin (%) 27.7 173. FY24 FY24 | 2 16% +20 +169 144. % % FY23 FY23 10.3 4 | 7% Operating Cash Flow (£m) | Conver
Slide 9: Our markets are large and recovering
Our markets are large and recovering HMRC Transactions (‘000s) New Mortgage Lending (£bn) FY25 Forecast FY25 Forecast FY24 1,101 FY24 242 FY23 1,019 FY23 226 Mortgage Approvals (‘000s) Product Transfer Lending (£bn) FY25 Forecast FY25 Forecast FY24 1,240 FY24 218 FY23 1,025 FY23 240 Sources: UK Fina
Slide 10: Focused on delivering clear, earnings accretive operational improvements
Focused on delivering clear, earnings accretive operational improvements with the opportunity to also leverage more of the Group’s collective strengths Further opportunities to leverage ’one Group’ Innovation & Data & Insight Scale & Access Talent Tech 10m visits to Talent Deployment of EA websites
Slide 11: Disciplined capital allocation
Disciplined capital allocation Strong cash position and strong cash conversion (100%+) – providing flexibility and optionality 1 Organic Focus, Selective FINANCIAL SERVICES SURVEYING & VALUATION ESTATE AGENCY FRANCHISING Inorganic 2 Clear hurdle rates Target risk-adjusted returns greater than 12% Gr
Slide 12: Summary: LSL is a high ROCE business with further exciting opportunities ahead
Summary: LSL is a high ROCE business with further exciting opportunities ahead Major benefits Recurring and Leading market from restructure repeatable positions in a key, Simpler streamlined revenue in attractive UK B2B model, margin and markets with industry cash generation, ROCE, cross cycle perfo
Slide 13: Appendices
Appendices
Slide 14: JV investment with Pollen Street Capital: Buy & Build broker strategy
JV investment with Pollen Street Capital: Buy & Build broker strategy now approaching scale 2024 Pivotal 2024 LSL PAT Financials Revenue £77m 500+ advisers Break-even EBITDA scaling Protection Economics Procuration fees Broker fees income Clear Buy & Build Strengths 20 deals to date Gaining scale st
Slide 15: Forward Looking Statements
Forward Looking Statements This document contains certain statements that are forward-looking statements. They appear in a number of places throughout this document and include statements regarding our intentions, beliefs or current expectations and those of our officers, directors and employees con
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