Revenue growth in 2022 was heavily organic, driven by a focus on serving existing clients and growing business with them, as they consolidated more of their needs with TMF Group.
As in previous years, EBITDA grew faster than revenue. That is partly the effect of operational leverage, with more revenue coming onto a relatively fixed infrastructure. It was also assisted by investing in more robust and efficient ways to deliver client work.
TMF Group won €145m (annual contract value) of new business in 2022, an 11% increase on 2021. New business is now dominated by growing global mandates with existing clients.
Four acquisitions, covering Latin America, Europe, the Middle East and Asia, were completed in 2022. These strengthened the firm’s offering around the world, including bolstering its fund administration capability.