London Stock Exchange Group plc (LSEG) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to our first half of 2025 results. I'm joined by Michelle Anna-Frosch, MAP, our CFO, and by Peregrine Riviere, Head of Investor Relations. We've had a very good start to the year, continuing our strong and consistent track record of growth. Revenues grew 8.7%, with all businesses contributing positively. Our focus on efficient and scalable growth is paying off, with 150 basis points of margin expansion. taking EBITDA margins to 49.5%. That operational leverage continued down the P&L, with adjusted EPS growing a little over 20%. Cash conversion remained strong. We returned a billion pounds in buybacks and dividends to shareholders in the first half, while still investing in future growth and maintaining optionality around bolt-on M&A. And today, we've announced a further billion pound buyback in the second half, and a 15% increase in our interim dividend, and we are raising our margin guidance. This performance is a direct consequence of our strategy and execution. The investments we're making are driving growth today and are also building the capabilities and platforms for future growth. We're accelerating our high level of product innovation, consistently rolling out new products. We are deepening our customer relationships, building strategic partnerships that have our data, insights, and solutions at their core. And we continue to drive greater efficiency and operational leverage through the ongoing transformation of our business and application of new tools, including AI. I'll say more about the strong commercial and strategic progress we're making in a moment. But first, I'll hand over to Matt to discuss our financial performance in more detail. Thanks, David, and good morning, everyone. Let's begin with the group growth for the quarter ...