Core Viewpoint - The London Stock Exchange Group (LSEG) demonstrated strong performance in 2024, with significant revenue growth, product innovation, and improved profit margins, leading to a free cash flow of £2.2 billion for shareholders and a positive outlook for 2025 [1][2]. Financial Performance - Total revenue (excluding recoveries) for 2024 reached £8,494 million, a 6.1% increase from £8,009 million in 2023 [2]. - Total revenue (including recoveries) was £8,858 million, up 5.7% from £8,379 million in the previous year [2]. - Adjusted EBITDA grew by 12.3% to £3,945 million, while operating profit increased by 6.7% to £1,463 million [3]. - Basic earnings per share (EPS) decreased by 7.3% to 128.8 pence, but the dividend per share rose by 13.0% to 130.0 pence [3][6]. Business Segments Growth - Data and Analytics business grew by 4.5%, FTSE Russell by 10.9%, Risk Intelligence by 11.3%, Capital Markets by 17.8%, and Post Trade services by 2.4% [5]. - Organic Annual Subscription Value (ASV) increased by 6.3% as of December 2024 [5]. Strategic Developments - The company made significant improvements to the Workspace platform, enhancing data availability and launching new post-trade solutions and risk intelligence services [8]. - A partnership with Microsoft has led to the launch of initial products, with more expected in 2025 [9]. - The acquisition of a 11.6% stake in LCH Group increased ownership to 94.2%, while a 4.92% stake in Euroclear was sold [9]. Shareholder Returns - The company returned £1 billion to shareholders through buybacks in 2024, with an additional £500 million planned before July 2025 [9]. - The final dividend per share is set to increase by 12.2% to 89.0 pence, pending shareholder approval [9]. 2025 Guidance - Projected organic revenue growth (excluding recoveries) is expected to be between 6.5% and 7.5% [10]. - EBITDA margin is anticipated to grow by 50-100 basis points, with a capital expenditure intensity of around 10% [10]. - Free cash flow is expected to be at least £2.4 billion [10].