LSE Mergers and Acquisitions Presentation Deck
Improving performance at Refinitiv
Good revenue growth at Refinitiv and highly effective cost saving plan resulting in
significant margin expansion with further benefits to be realised from integration
with LSEG
Revenue¹ ($m)
Adjusted EBITDA Margin²
(%)
5,850
5,650
5,450
5,250
50%
40%
30%
20%
CAGR - 3.2%
5,472
2017
28.9%
5,739
2017
2018
36.0%
5,832
Note:
(1)
Revenue excludes recoveries
(2) Margin is calculated as a % of Refinitiv revenue excluding recoveries
(3) Refinitiv revenue includes recoveries
2019
7 2018
18 2 2019
39.8%
Revenue¹ ($m)
Adjusted EBITDA Margin²
(%)
3,050
3,000
2,950
2,900
2,850
2,800
50%
40%
30%
20%
3.5%
2,912
40.8%
3,013
H1 2019 H1 2020
44.8%
H1 2019 H1 2020
London
Stock Exchange Group
High proportion of recurring
subscription-based revenue
$5.8bn (1)
82%
Recurring
$6.3bn (3)
18%
Transactions
Diversified revenue across the
globe
38%
US
19%
Asia
Pacific
4%
Other
Americas
25%
ΕΜΕΑ
15%
UK
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