TMF Group holding BV 2015 results

To view full summary statement and annual report, please visit our investor relations page.

Announcement of TMF Group Holding B.V. 2015 Financial Results

Operational Highlights 2015

  • Completed acquisition of PwC Brazil's outsourcing divisi, PwC Apriori. Integration of the acquired business with TMF Group on track.
  • Disposal of Fund Services activities completed. TMF Group retains a 10% interest in the Fund Services business.
  • Turnaround programme initiated in the Netherlands. Initial results showing positive impact.
  • A Pipeline of opportunities continues to build in line with defined criteria.
  • Employee numbers (FTE) now exceed 6,000.

Financial Highlights Full Year 2015 1

  • Group revenue up 18.8% to €492.0 million (2014: €414.3 million):
    • Global Business Services and Trust & Corporate Services up by 32.5% and 4.6% respectively.
    • EMEA, Americas and APAC region up by 12.2%, 41.9% and 51.7% respectively.
  • Group Adjusted2 EBITDA increased 12.9% to €130.4 million (2014: €115.5 million).
  • Adjusted EBITDA margin reached 26.5% (2014: 27.9%).
  • Net loss decreased by €13.5 million to €37.7 million (2014: €51.2 million).
  • Adjusted2 cash generated from operating activities (excluding associates) increased by €25.7 million to €136.8 million (2014: €111.1 million) and was equal to 106.0% of Adjusted EBITDA (2014: 96.2% of Adjusted EBITDA).

Financial Highlights Q4 2015

  • Group revenue up 13.4% to €129.9 million (Q4 2014: €114.5 million): respectively.
    • Global Business Services and Trust & Corporate Services up by 24.0% and 1.8%
    • EMEA, Americas and APAC region up by 8.6%, 43.1% and 19.5% respectively.
  • Group Adjusted EBITDA increased 4.0% to €36.6 million (Q4 2014: €35.2 million).
  • Adjusted EBITDA margin reached 28.2% (Q4 2014: 30.7%).
  • Net loss decreased by €13.7 million to €8.0 million (Q4 2014: €21.7 million).
  • Adjusted cash generated from operating activities (excluding associates) increased by €12.2 million to €40.7 million (Q4 2014: €28.5 million) and was equal to 113.7% of Adjusted EBITDA (Q4 2014: 81.0% of Adjusted EBITDA).

View the complete press release here.

View the full financial report here.

Please visit our Investor Relations for more information.

1 In this press release all income statement and FTE related figures are presented with the associates on a full consolidation basis ('management basis'). All other information (e.g. cash flow and balance sheet) is presented on a statutory basis. The statutory basis includes the result of associates using equity accounting.
2 Adjusted EBITDA and Adjusted cash generated from operating activities exclude exceptional items. Expenses incurred for acquisitions, litigation or redundancy and restructuring costs are classified as exceptional items.

 
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