LNSTY - London Stock Exchange Group plc (LDNXF) Q1 2024 Sales/ Trading Statement Call

2024-04-26 08:53:10 ET

London Stock Exchange Group plc (LDNXF)

Q1 2024 Sales/ Trading Statement Call

April 25, 2024, 03:30 AM ET

Company Participants

Peregrine Riviere - Head of IR

David Schwimmer - CEO

Michel-Alain Proch - CFO

Conference Call Participants

Arnaud Giblat - BNP Paribas Exane

Bruce Hamilton - Morgan Stanley

Ian White - Autonomous Research

Hubert Lam - Bank of America

Enrico Bolzoni - JPMorgan

Benjamin Bathurst - RBC

Russell Quelch - Redburn Atlantic

Michael Werner - UBS

Andrew Coombs - Citi

Kyle Voigt - KBW

Presentation

Peregrine Riviere

Good morning, everyone, and welcome to LSEG's first quarter update. I'm here with David and Michel-Alain, MAP. He'll make some brief opening remarks on our Q1 performance, and then we'll open up to questions on the conference call line.

So let me hand over to him right now.

Michel-Alain Proch

Thanks, Peregrine. Good morning, everyone. I'm very happy to be talking to you for the first time after my first two months in the group. It has been quite an intensive onboarding. I've spent a lot of time in the business as well as joining David on investor roadshows.

For me, the status is clear. We have a strong portfolio of businesses, a rapid pace of innovation and a strategy that is well understood. Now it's time to execute. I'm excited about the potential of accelerating growth, and I also see the opportunity for improving margins and cash flows over the medium term, consistent with our guidance. I'm confident we will deliver all of that, and I'm already deeply engaged in making that happen.

For 2024, we have started the year well. We saw good performance across the group. There are some puts and takes across the business, but these are very much as expected. We remain well set for the rest of the year and are on track to deliver all of our guidance.

Total income grew 7.3% on a constant currency basis. This includes 90 basis points of M&A benefit, mainly from Acadia in Post Trade. Organic growth was 6.4%, and I will actually refer to this metric through the rest of my comments....

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