London Stock Exchange today released its preliminary results for 2022. The company reported total income of £7.74 billion (including recoveries), slightly above market expectations. The figure marked a 18.5% increase compared to the previous year.
Revenue from data analytics services for last year rose 20.5% to £4.9 billion. Capital markets and post-trade increased 12.6% and 9.4% from 2021, respectively.
David Schwimmer, CEO said:
LSEG has had a strong year, successfully integrating Refinitiv and significantly improving its performance, while also delivering strong results in our Capital Markets and Post Trade businesses. The resilience of our business model and the quality of our earnings, diversified by customer, geography, product and asset class, and over 70% subscription-based, are becoming increasingly clear.
The Group’s operating profit for 2022 came in at £1.4 billion, jumping 33.1% from the previous year. The stock exchange reported pre-tax profit of £1.2 billion, up by 38.8%. Basic earnings per share for the period surged 65.3%.
LSEG ended the year with adjusted EBITDA at £3.5 billion, 19.6% higher than 2021 and with unchanged margin of 47.8%.
The adjusted operating profit for 2022 reached £2.7 billion, jumping 19.5% and the adjusted EPS increase was 16.7%.
Schwimmer added:
Our strategy is working. We are an increasingly important strategic partner to customers across the financial markets value chain, and that is translating into growth. We continue to invest in new products and services, and have completed four highly complementary acquisitions to further strengthen our offer. In addition to our existing share buyback, we are today announcing plans to seek shareholder approval for a buyback directed towards the Blackstone/Thomson Reuters consortium’s stake, which will benefit all shareholders.
In December last year, LSEG revealed it has agreed to acquire Acadia, a provider of automated uncleared margin processing and integrated risk and optimisation services.
