2020 Summary

2020 Summary

Q1 2021 Summary - Pro-forma1

28 April 2021

Variances are provided against reported and constant currency results. Commentary is provided on the constant currency variance (excluding deferred revenue adjustment) to provide the best insight into underlying performance. Please refer to the Accounting and Modelling notes section for more information on relevant accounting adjustments.

Continuing operations

Reported

Q1 2021

£m

Reported

Q1 20202

£m

Reported Variance3

%

 

 

Constant Currency Variance4
 %

Constant Currency Variance (excl. deferred revenue adjustment)4, 5
 %

 

 

 

 

 

 

 

Trading & Banking Solutions

372 

396 

(6.1%) 

 

(2.2%) 

(0.2%) 

Enterprise Data Solutions

277 

285 

(2.8%) 

 

1.0% 

3.1% 

Investment Solutions

272 

272 

 

5.5% 

6.6% 

Wealth Solutions

122 

126 

(3.2%) 

 

3.2% 

4.0% 

Customer & Third-Party Risk Solutions

 85

67 

26.9% 

 

30.9% 

33.8% 

Data & Analytics

 1,128

1,146 

(1.6%) 

 

2.9% 

4.7% 

 

 

 

 

 

 

 

Equities

61 

62 

(1.6%) 

 

(1.6%) 

(1.6%) 

FX

57 

64 

(10.9%) 

 

(6.3%) 

(6.3%) 

Fixed Income, Derivatives & Other

201 

186 

8.1% 

 

12.8% 

12.8% 

Capital Markets 

319 

312 

2.2% 

 

6.4% 

6.4% 

 

 

 

 

 

 

 

OTC Derivatives

87 

87 

 

1.1% 

1.1% 

Securities & Reporting

65 

59 

10.2% 

 

8.3% 

8.3% 

Non-Cash Collateral

22 

19 

15.8% 

 

15.8% 

15.8% 

Net Treasury Income

55 

67 

(17.9%) 

 

(16.2%) 

(16.2%) 

Post Trade

229 

232 

(1.3%) 

 

(0.9%) 

(0.9%) 

 

 

 

 

 

 

 

Other

11 

(54.5%) 

 

(54.5%) 

(54.5%) 

Total Income (excl. recoveries)

1,681 

1,701 

(1.2%) 

 

2.6% 

3.9% 

Recoveries

88 

87 

1.1% 

 

(1.1%) 

1.1% 

Total Income (incl. recoveries)

1,769 

1,788 

(1.1%) 

 

2.4% 

3.7% 

Cost of sales

(231) 

(242) 

(4.5%) 

 

1.7% 

1.7% 

Gross Profit 

1,538 

1,546 

(0.5%) 

 

2.6% 

4.0% 

1 Pro-forma assumes that the acquisition of Refinitiv took place on 1 January 2021 for the current financial year and 1 January 2020 for the prior financial year comparator figure. Both figures exclude the financial contribution from the businesses contained within the Borsa Italiana divestment

2 Q1 2020 comparator figure differs to the previous disclosure due to the treatment of FX and other adjustments. For more information please refer to the “Accounting and modelling notes” section

3 Reported variance is the difference between current and prior year periods using FX rates prevalent at each time, therefore any changes in the FX rates are also reflected in the variance percentage alongside business performance

4 Constant currency variance shows underlying financial performance, excluding currency impacts, by comparing the current and prior period at consistent exchange rates

5 The deferred revenue adjustment is explained in the “Accounting and modelling notes” section