IG Group (IGG) Trading update summary

Financial performance and trading update

• Organic total revenue for Q1 2026 rose 19% year-on-year to £331.2 million, with reported revenue up 21% to £339.9 million.

• Net trading revenue increased 25% year-on-year, driven by strong growth in OTC derivatives and stock trading.

• First trades surged 63% year-on-year, and active customers grew 12%, marking the fifth consecutive quarter of sequential growth.

• Assets under administration (AuA) across platforms surpassed £20 billion in April 2026, up 57% on a reported basis and 20% organically.

• Net interest income declined 22% year-on-year to £24.7 million, reflecting lower interest rates and greater pass-through to customers.

Product and regional highlights

• OTC derivatives revenue grew 26% year-on-year, supported by proposition investment and pricing optimisation.

• Organic stock trading and investments revenue rose 38% year-on-year, with UK AuA up 26% and international launches in Singapore and France.

• Spot crypto trading expanded, with new offerings in the UK, Australia, France, and Singapore, and over 50 new coins added.

• Freetrade broadened its proposition, launching free mutual funds, SIPPs, and Junior ISAs, with AuA reaching £4.0 billion in April.

• Regional growth was strong in UK & Ireland (37% revenue growth), APAC & Middle East (36%), and the US (12%).

Strategic and operational developments

• Upgraded 2026 guidance to 10-15% organic total revenue growth, with EBITDA margins in the mid-40s percent range.

• Medium-term outlook raised to at least 10% organic revenue compound growth per annum beyond 2026.

• Strategic review underway, evaluating acquisitions, domicile and listing options, and potential combinations with industry peers.

• New £125 million share buyback programme launched, with the first tranche underway and nearly £15 million of shares repurchased by mid-May.

• Next-generation unified multi-product platform to launch in the UK over the summer, with institutional white-label offering initiated.