Invesco Ltd. reported a significant increase in its financial performance for the fiscal year ending December 31, 2024, with total operating revenues reaching $6.07 billion, a 6.1% increase from $5.72 billion in 2023. The company achieved a net income of $538 million, compared to a net loss of $333.7 million in the previous year, marking a substantial turnaround. This improvement was largely attributed to higher average assets under management (AUM), which rose to $1.85 trillion from $1.59 trillion in 2023, driven by positive market conditions and strategic growth initiatives.
The year saw Invesco's operating income rebound to $832.1 million, a significant recovery from an operating loss of $434.8 million in 2023, which had been impacted by a non-cash impairment charge of $1.25 billion related to indefinite-lived intangible assets. The operating margin improved to 13.7% from a negative margin of 7.6% the previous year. Adjusted operating income also increased to $1.37 billion, reflecting a 13% rise from $1.21 billion in 2023, with an adjusted operating margin of 31.1%.
Invesco undertook several strategic initiatives during the year, including the continued expansion of its investment capabilities and geographic reach. The firm maintained a strong focus on high-demand investment offerings, particularly in private markets, which contributed to net long-term inflows of $65.1 billion. The company also reported a headcount of 8,508 employees, a slight increase from 8,489 in 2023, indicating a commitment to investing in talent to support its growth objectives.
The filing highlighted the company's proactive approach to managing its capital structure, including the redemption of $600 million in senior notes due in January 2024 and maintaining a zero balance on its revolving credit facility. Invesco's liquidity position remained strong, with cash and cash equivalents totaling $986.5 million at year-end. The company also emphasized its commitment to returning capital to shareholders through share repurchases and dividends, having repurchased 2.9 million common shares for $49.6 million during the year.
Looking ahead, Invesco expressed optimism about its growth prospects, citing a favorable market environment and ongoing demand for its investment products. The company remains focused on enhancing its operational efficiency and leveraging its diverse investment capabilities to navigate market challenges and capitalize on emerging opportunities.
About Invesco Ltd.
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