TransUnion reported a revenue increase of 9.2% for the fiscal year ending December 31, 2024, reaching $4.18 billion, compared to $3.83 billion in 2023. The company's operating income also saw a significant rise, climbing to $666.7 million from $128.5 million the previous year. This improvement in profitability was largely attributed to a reduction in operating expenses, which fell by 5% to $3.52 billion, despite a $414 million goodwill impairment recorded in 2023. The net income attributable to TransUnion for 2024 was $284.4 million, a recovery from a net loss of $206.2 million in 2023.
The company experienced notable growth across its U.S. Markets and International segments. In the U.S. Markets segment, revenue increased by 8.2% to $3.24 billion, driven by a 15.2% rise in Financial Services revenue, which was bolstered by increased mortgage activity. The International segment also performed well, with revenue rising 12.7% to $958.4 million, primarily due to strong growth in India and other regions. The company’s Adjusted EBITDA increased to $1.51 billion, reflecting a margin improvement to 36% from 35.1% in 2023.
Strategically, TransUnion has been focused on enhancing its technology and operational efficiency. The company is in the midst of a transformation plan aimed at optimizing its operating model, which includes transitioning certain job responsibilities to Global Capability Centers. This initiative is expected to yield annual savings of $120 million to $140 million. Additionally, TransUnion has made significant investments in its technology infrastructure, including the completion of Project Rise, which aims to streamline product development and improve operational efficiency.
In terms of customer engagement, TransUnion reported a strong performance in its consumer services, with millions of users accessing its solutions for credit management and identity protection. The company has also expanded its geographic footprint, recently launching a credit bureau in Brazil and planning to acquire majority ownership in Trans Union de Mexico, further solidifying its presence in Latin America. As of December 31, 2024, TransUnion employed approximately 13,400 individuals, reflecting its commitment to investing in human capital to support its growth initiatives.
Looking ahead, TransUnion anticipates continued growth driven by the increasing demand for data and analytics solutions across various industries. The company is well-positioned to capitalize on emerging market opportunities, particularly in regions with low credit penetration. However, it remains cautious of macroeconomic factors such as inflation and interest rate fluctuations that could impact consumer lending and overall demand for its services.
About TransUnion
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