Q1 2022 Summary

Q1 2022 Summary

Q1 2022 Trading Update

27 April 2022

Variances are provided on a pro-forma and constant currency basis. Unless stated otherwise, commentary is provided on the constant currency variance (excluding the deferred revenue adjustment) to provide insight into performance on a comparable basis. Revenues and cost of sales associated with the BETA+ divestment have been classed as discontinued and are excluded from all periods. Revenues and cost of sales associated with the Borsa Italiana Group divestment, which completed in H1 2021, are also excluded.

Continuing operations

Q1 2022

£m

Pro-forma

Q1 20211

£m

Variance2

%

 

Constant Currency Variance3

%

Constant Currency Variance

(excl. deferred revenue adjustment) 3,4

%

 

 

 

 

 

 

 

Trading & Banking Solutions

378 

372 

1.6% 

 

1.0% 

(0.9%) 

Enterprise Data Solutions

304 

279 

9.0% 

 

8.8% 

6.5% 

Investment Solutions

308 

274 

12.4% 

 

10.8% 

9.4% 

Wealth Solutions

63 

61 

3.3% 

 

2.2% 

0.9% 

Customer & Third-Party Risk Solutions

94 

85 

10.6% 

 

9.9% 

7.8% 

Data & Analytics

1,147 

1,071 

7.1% 

 

6.3% 

4.5% 

 

 

 

 

 

 

 

Equities

67 

61 

9.8% 

 

10.0% 

10.0% 

FX

60 

57 

5.3% 

 

2.7% 

2.4% 

Fixed Income, Derivatives & Other

232 

200 

16.0% 

 

15.2% 

15.2% 

Capital Markets 

359 

318 

12.9% 

 

11.9% 

11.9% 

 

 

 

 

 

 

 

OTC Derivatives

93 

87 

6.9% 

 

7.5% 

7.5% 

Securities & Reporting

64 

63 

1.6% 

 

5.1% 

5.1% 

Non-Cash Collateral

24 

22 

9.1% 

 

10.5% 

10.5% 

Net Treasury Income

57 

55 

3.6% 

 

5.2% 

5.2% 

Post Trade

238 

227 

4.8% 

 

6.6% 

6.6% 

 

 

 

 

 

 

 

Other

40.0% 

 

44.1% 

44.1% 

Total income (excl. recoveries)

1,751 

1,621 

8.0% 

 

7.6% 

6.3% 

Recoveries

80 

88 

(9.1%) 

 

1.6% 

(0.5%) 

Total income (incl. recoveries)

1,831 

1,709 

7.1% 

 

7.3% 

6.0% 

Cost of sales

(240) 

(230) 

4.3% 

 

2.9% 

2.9% 

Gross profit 

1,591 

1,479 

7.6% 

 

8.0% 

6.4% 

1 The Q1 2021 comparator is pro-forma and assumes that the acquisition of Refinitiv took place on 1 January 2021

2 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 reflected in the variance percentage alongside business performance

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

4Excludes the deferred revenue adjustment further explained in the “Accounting and modelling notes” section