London Stock Exchange Group (LSEG) investor relations material

Executive summary

• Achieved record first-half financial performance with 8.4% organic revenue/income growth and strong results across all divisions, driven by innovation and AI-enabled solutions.

• Adjusted EBITDA rose 14.1% to £2,527 million, adjusted EPS up 17.2% to 244.9p, and free cash flow per share up 37%.

• Returned £2.6 billion to shareholders in H1 via dividends and buybacks, with further buybacks planned.

• Raised full-year 2026 guidance for organic income growth to 7–7.5% and EBITDA margin improvement to around 100bps.

• Continued innovation in AI and digital platforms, with new partnerships and product launches.

Financial highlights

• Total income (excluding recoveries) rose to £4,799m, up 6.9% reported and 8.4% organic year-over-year; including recoveries, income reached £4,985m, up 8.3%.

• Adjusted EBITDA margin expanded to 52.7% (up from 49.5% in H1 2025).

• Adjusted operating profit grew 16.3% to £2,008m; equity free cash flow rose 37% to £1.2bn.

• Interim dividend increased 17% to 55p per share, totaling £270m.

• Net finance expense rose to £149m, mainly due to higher interest rates.

Outlook and guidance

• Full-year 2026 organic income growth guidance raised to 7–7.5%, with EBITDA margin improvement of ~100bps.

• Capex intensity expected at ~9.5% of total income; equity free cash flow at least £2.7bn.

• Medium-term (2027–2029): mid-to-high single-digit income growth, 150bps cumulative EBITDA margin improvement, and capex declining to ~8% by 2029.

• Confident in delivering all 2026 financial targets.