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