Strong Revenue Growth
LSEG reported an 8.4% increase in revenue, with 7.7% organic growth, demonstrating broad-based performance across divisions. Capital Markets grew by nearly 18%, driven by Tradeweb's record performance.
Margin Improvement
The company achieved an 80 basis points improvement in margin, with operating leverage beginning to materialize. Total operating expenses grew by 6.4%, compared to an organic revenue growth of 7.7%.
Equity Free Cash Flow Surge
Equity free cash flow increased significantly to £2.2 billion, supporting shareholder returns and future growth investments.
Data & Analytics Acceleration
Data & Analytics posted a solid performance with 4.5% growth, showing acceleration from H1 to H2. FTSE Russell and Risk Intelligence grew at a double-digit rate.
Successful Integration of Refinitiv
The Refinitiv integration is largely completed, with revenue and cost synergies exceeding original targets.
Positive Outlook for 2025
LSEG expects revenue growth of 6.5% to 7.5% in 2025, with EBITDA margin expected to improve by 50 to 100 basis points on an underlying basis.