IG Group (IGG) Transition Period summary

Executive summary

• Achieved record financial results in 2025, with total revenue of £1,123m, up 6% year-over-year, and strong execution of strategic priorities.

• New customer acquisition rose 54% organically, active customers up 6%, and growth is accelerating into double digits for 2026.

• EBITDA reached £531m with a 47% margin; £321m returned to shareholders via dividends and buybacks.

• Organic revenue growth met medium-term guidance ahead of schedule, with continued investment in growth and strong margins.

• Strategic review launched to maximize long-term shareholder value, with outcomes to be shared in autumn 2026, exploring all routes including M&A, domicile, and legal structure.

Financial highlights

• Organic net trading revenue grew 10% to £1,004.6m; total revenue up 7% to £1,123.4m.

• Adjusted EPS increased 5% to 115.3p, supported by share buybacks reducing share count by over 16% since May 2022.

• EBITDA margin remained strong at over 47%, with plans to sustain mid-40s% margins.

• Assets under administration reached £19.5bn at year-end, nearly £20bn by end of last month.

• Profit before tax was £563.7m, including a £76m gain from the disposal of Small Exchange.

Outlook and guidance

• Upgraded 2026 organic revenue growth guidance to the top end of the mid- to high-single-digit range.

• Q1 2026 revenue expected to be approximately £300m, up 7% year-over-year and near record levels.

• Net interest income for 2026 forecast at approximately £110m.

• EBITDA and adjusted EPS for 2026 expected broadly in line with consensus; medium-term EBITDA margins to remain in the mid-40s%.

• Medium-term total revenue guidance upgraded towards the top end of the range.