London Stock Exchange Group sees an almost 5% total income increase for H1 2021

Alan Sayer
August 6, 2021 11:41 am

Тhe LSEG has announced its interim figures for the first half of 2021. It shows positive growth for income over H1 2021 compared to H1 2020, when considering the constant currency variance. This provides a better outlook for the exchange when compared to the raw figures. 

The raw figures for total income excluding recoveries show that LSEG took £3.356 billion in the first half of 2021 compared to £3.420 billion in the first half of 2020. This is negative growth of 1.9%. However, when taking the adjustment for constant currency variance into account, this shows a 4.6% growth. This removes the impact of currency changes in the exchange performance and shows a more actual figure of the performance over H1 2021.

The EBITDA also shows positive growth when adjusted for constant currency variance. Another positive aspect of the EBITDA is that it shows positive growth in terms of the raw figures. The H1 2021 EBITDA comes in at £1.657 billion, and the H1 2020 figures were £1.59 billion. This is an increase of 4.2% for the raw figures and 9.4% for the constant currency variance. 

LSEG, London Stock Exchange

This provides an EBITDA margin of 49.4% for H1 2021, which is an improvement on the H1 2020 figure of 46.5%. Despite a constant currency variance increase in operating expenses, the more significant increase in revenue and income means the EBITDA has shown an improvement for the 2021 first half of the year. 

Expenses are at £1.432 billion for the first half of 2021, changed from £1.507 billion for the first half of 2020. While this is a 5% decrease in real terms, taking the constant currency variance into account, this is a 1.1% increase. LSEG has also commented that expenses will increase into H2 due to cost phasing; this will also have a negative impact on the EBITDA.

David Schwimmer, the LSEG CEO, commented:

David Schwimmer

David Schwimmer

LSEG has delivered a good financial performance in the first half of the year, reflecting revenue growth across all divisions. We continue to invest in projects that enhance our customer offering and deliver a more scalable and efficient business.

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Having gained a degree in economics, Alan entered the world of financial services starting his career in London and then moving to New York for a number of years. His first post at a City bank saw him establish a reputation as an forex trader. Having recently returned from New York after eight successful years, Alan is now a prosperous trader in his own right concentrating on commodities and forex.
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