Jse Ltd (JSE:JSE)

Half Year 2025 JSE Ltd Earnings Call Transcript

Aug 6, 2025 / 12:00 PM GMT

Release Date Price: R135.59 (+0.61%)

Transcript

Key Points

Positve

Jse Ltd (FRA:JF6) reported a 13.2% increase in net earnings, reflecting strong performance across its diversified business model.
The company achieved a 10.3% increase in total income, with significant contributions from non-trading sources, which now account for 36% of operating income.
Cash generation remained robust, with 518 million rand in net cash generated, supporting both growth and shareholder returns.
The BDA modernization project is progressing ahead of schedule, with significant advancements in technology infrastructure.
Jse Ltd (FRA:JF6) maintained a strong EBITDA margin of 42.1%, demonstrating effective cost management and operational efficiency.

Negative

Operating expenses increased by 7.5% year on year, driven by elevated trading-related costs and investments in technology and personnel.
Non-trading income growth was subdued at 1%, primarily due to a higher base in JIS and lower margin income.
Other income decreased by 55% due to Forex losses and a high base effect from the previous year.
JSE Investor Services revenue decreased by 11%, impacted by a high base effect and lower margin income.
Commodity derivatives revenue declined by 11%, with a significant drop in the number of contracts traded and physical deliveries.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

JSEJ.J - JSE Ltd
Half Year 2025 JSE Ltd Earnings Call
Aug 06, 2025 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, everybody, and welcome to the JSE's first half, 2025 Financial results presentation.

I'll start with an overview before taking you through the group performance, and Fozia Suliman, our CFO, will then provide a detailed breakdown of our financial results. After that, I'll share some insights and updates into the progress that we've made on our strategic priorities, which we outlined earlier this year, and then we'll open up for Q&A.

Starting with slide 4, the JSC, delivered healthy earnings growth in the first half with impact up 13.2% year on year, translating into headline earnings per share of 6$0.87. This reflects the strength of our diversified model and our ability to deliver through different phases of the

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