Filing Flows › Lloyds Banking Group (LYG) › FY2024
Lloyds Banking Group (LYG) FY2024 earnings results (fiscal 2024)
20-F filed Feb 20, 2025
Lloyds Banking Group (LYG) reported revenue of $34.3B for the fiscal 2024 (FY2024), -3% from a year earlier. Operating margin was 17.4%, net earnings $4.4B (12.9% of revenue).
Lloyds Banking Group, FY2024: revenue $34.3B (-3% year over year), operating margin 17.4%, net earnings $4.4B, operating cash flow −$4.4B. The chart follows the revenue to costs, profit and cash.
| FY2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $34.3B | — | -3% |
| Operating profit | $6.0B | — | -20% |
| Net earnings | $4.4B | — | -19% |
| Operating cash flow | −$4.4B | — | — |
What changed
Revenue was £34.3B in FY2024, down 3% year over year.
Operating profit was £6.0B, a 17.4% margin (down 3.8 points year over year). Total costs grew 1% against a revenue fall of 3%. Net earnings were £4.4B, down 19% year over year. The effective tax rate was 25.0%.
Operating cash flow was −£4.4B. Non-cash charges added back £3.4B of depreciation and amortization and £0.28B of share-based compensation. Working capital and other items used £12.6B. Capital expenditures of £4.4B exceeded it, leaving free cash flow of −£8.8B.
Questions
What was Lloyds Banking Group's revenue in the fiscal 2024?
Lloyds Banking Group (LYG) reported revenue of $34.3B for the fiscal 2024 (FY2024), -3% from a year earlier.
Was Lloyds Banking Group profitable in the fiscal 2024?
Operating profit was $6.0B (17.4% of revenue) and net earnings $4.4B.