JTC PLC (LSE:JTC)

Full Year 2024 JTC PLC Earnings Call Transcript

Apr 8, 2025 / 08:30 AM GMT

Release Date Price: £8.08 (+0.25%)

Transcript

Key Points

Positve

JTC PLC (JTCPF) reported a significant revenue growth of 18.6% and EBITDA growth of 18.4%, maintaining a strong underlying EBITDA margin of 33.3%.
The company achieved a record for new business wins, totaling 35.7 million pounds, up 15.9% year on year.
Net organic growth was 11.3%, surpassing the company's revised guidance and marking the third best performance since their IPO in 2018.
The acquisition of City Trust is set to make JTC PLC (JTCPF) the global leading independent trust company, enhancing their position in the US market.
The US region contributed 32% of revenues, with expectations to rise to 35% post-acquisition of City Trust, making it JTC's largest single market.

Negative

The ICS division faced a challenging market environment with a slower than anticipated reduction in the cost of capital, impacting market sentiment and leading to fewer IPOs and fund launches.
The underlying EBITDA margin dropped slightly by 0.1 percentage point from 2023.
JTC PLC (JTCPF) reported a loss before tax of GBP7.4 million due to the cost of the Galaxy EBT distribution.
Net debt increased by 59 million pounds, driven by acquisitions, raising concerns about leverage.
The anticipated rebound in the global M&A market did not materialize as expected, affecting market sentiment and deal flow.

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

JTC.L - JTC PLC
Full Year 2024 JTC PLC Earnings Call
Apr 08, 2025 / 08:30AM GMT

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Presentation
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Unidentified_1 [1]
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Hello and welcome to the JTC PLC results presentation.

My name is David and I'll be your host for today's events. Please note that this conference is being recorded and for the duration of the presentation, your lines will be on listen-only.

However, you will have the opportunity to ask questions at the end of the presentation.

This can be done using the raise hand feature in the control panel on your screen.

We will address as many questions as possible.

When we come to answering your question, we will invite you to unmute and speak live to address our panelists. I will now hand you over to your presenters for today.

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