- Invoicing volume grows 12,3% to 2,1 billion euros in fiscal year 2020/21
- Financial performance reflects Mazars' strong position and balanced strategy
- Beyond financial performance, responsible growth: ESG criteria are an essential part of Mazars' long-term strategy
February 3rd, 2022: Mazars, an international audit, tax and consultancy firm, today announces a global turnover of 2,1 billion euros for its fiscal year 2020/2021 (from 1 September 2020 to 31 August 2021) , representing an increase of 12,3% (excluding the exchange rate impact of -1,6%) in relation to the previous year. The increase in global revenue translates into strong organic growth (9,4%), complemented by external growth of 2,7%.
Commenting on the company's financial results, Hervé Hélias, CEO and President of Grupo Mazars, says: “2021 was an excellent year in terms of business and financial performance. All our service lines and geographies recorded a positive evolution, we won significant new business in large and listed companies, and in companies of all sizes, including large international companies. Double-digit growth confirms the strength and resilience of our unique integrated model. It is a balanced model between regulated and unregulated services, which reflects our long-term investment strategy in services. core of high quality in auditing, taxation and consulting that help our clients to grow with confidence and responsibility.”
In Portugal, Mazars monitors the double-digit results achieved at a global level, registering a turnover growth of around 16% in this period.
Luís Gaspar, Managing Partner of Mazars in Portugal, points out the strengthening of the firm's position and the consolidation of 5th place in the market as “the path traced in our strategic plan to achieve the concrete and clear objective of being the first alternative to the main players of the audit. In a market eager for diversity, we deliver quality in all the services we provide, responding to customer needs and contributing to a fairer market and a better society”.
“We believe that a competitive market improves audit quality. To our customers, regardless of their size, Mazars brings the promise of a closer relationship and a competent and diverse team. The importance of each of our customers, and the attention we guarantee them, is one of the Mazars values that we cultivate every day”, he concludes.
Growing with purpose: a balanced long-term strategy
Financial transparency and trust are the foundations of a fair and prosperous economy, and Mazars remains, more than ever, committed to providing high-quality audits to companies around the world. In 2021, the auditing practice continued to increase (+8,5%): today it audits 2.400 EIPs worldwide, 1.200 based in Europe, 960 listed on the regulated market, and more than 480 listed in Europe. Mazars is ranked 5th in the European audit market for large European listed companies.
In addition to auditing, there was a significant increase in Financial Advisory (+15,7%), reflecting a dynamic global transaction market. The growth in Consulting (+7,9%) reflects the focus on consistent services, always with the mission of responding to the public interest: helping clients operate in a complex regulatory environment and mitigating risks, growing with transparency and trust.
Beyond financial results: the foundations of business performance
Hervé Hélias adds: “Responsibility and sustainability have become important foundations for business performance and are vital for building trust in markets, companies and public institutions. As we begin to emerge from the pandemic, the call for a more sustainable future has never been stronger. Companies are – rightly – under pressure from all sides to change the way they grow.”
Today, expectations of companies go beyond financial performance and the role of auditors increasingly goes beyond financial transparency. In this context, Mazars' main mission has never been more pressing, reaffirming this commitment to brand positioning, renewed in 2020, and wanting to play its role, as auditors and reference consultants, to help clients transform themselves to grow in sustainably.
“ESG criteria are an essential part of our business growth equation. We have specialists dedicated to Corporate Sustainability Reporting or Corporate Sustainability Reporting Director (CSRD), we have developed sustainability training courses for our teams and are working with clients to help them prepare for ESG reporting and integrate sustainability strategies into their business models,” says the CEO and President of Mazars group.
“At the same time, we are working to transform our own business and operations, as well as the way we work, to ensure we meet ESG standards. In all the countries where we are present, and at the level of the Mazars Group, we have appointed leaders and teams to manage and implement our own corporate social responsibility strategy, adds Hélias.
Do what's recommended, invest in what's important
Mazars has always been guided by its founding principles: to act responsibly, with a focus on the public interest and future generations. This commitment is taken seriously, innovating and transforming, continually learning and developing along the way. In 2020, the partnership international voted on the company's strategic plan for the next four years and confirmed the priority investment in key areas that matter to the group's people and customers as well as society in general:
- Developing a diverse set of talented professionals. The objective is to make Mazars a school of excellence, forming capable and concerned leaders who lead by example.
- Provide high quality financial audits that meet the highest professional standards.
- Develop sustainability capabilities to provide ESG consulting and auditing services.
- Increase Consulting and Financial Advisory services to help clients with critical issues such as transactions, performance management, risk and compliance, governance and data security or tax transparency, as well as providing outsourcing tax and payroll that guaranteecompliance
- Significantly increase investments in Corporate Social Responsibility, to support communities, promote an inclusive and flexible workplace for people and protect the planet: use a science-based targets approach to reduce our carbon emissions and become neutral by 2030
- Contribute to setting the standards (such as CSRD) and conditions for a healthy audit industry capable of delivering quality financial and ESG audits at scale.
Hélias concludes: “In 2022 and beyond, we will continue to invest where it matters to our people, our customers and society, growing responsibly and moving forward with renewed purpose and confidence. I'm very optimistic about next year. There are opportunities everywhere. We have been able to see a recovery in the industry as well as the world economy and, most importantly, we have talented professionals across the world who are committed to doing the right thing to achieve our mission and ambitions.”