- Revenue grew 12.31% year-over-year to 2.1 billion euros in fiscal year 2020/21
- Mazars' financial performance reflects its strong position and balanced strategy
- Beyond financial performance, responsible growth: ESG criteria are an essential part of Mazars’ long-term strategy
February 3, 2022: Mazars, an international audit, tax, and consulting firm, announced today global revenue of 2.1 billion euros for its 2020/2021 fiscal year (from September 1, 2020, to August 31, 2021), representing an increase of 12.3% (excluding the currency impact of -1.6%) compared to the previous fiscal year. The increase in global revenue reflects strong organic growth (9.4%), complemented by external growth of 2.7%.
Commenting on the company’s financial results, Hervé Hélias, CEO and Chairman of the Mazars Group, said: “2021 was an excellent year in terms of business and financial performance. All of our service lines and geographies posted positive growth; we secured significant new business with large, publicly traded companies, as well as with companies of all sizes, including major international corporations. Double-digit growth confirms the robustness and resilience of our unique integrated model. It is a model that strikes a balance between regulated and unregulated services, reflecting our long-term investment strategy in services core ”high-quality audit, tax, and consulting services that help our clients grow with confidence and responsibility."
In Portugal, Mazars is keeping pace with the double-digit results achieved globally, reporting revenue growth of approximately 16% during this period.
Luís Gaspar, Managing Partner of Mazars in Portugal, describes the firm’s strengthened position and its consolidation of 5th place in the market as “the path laid out in our strategic plan to achieve the concrete and clear goal of becoming the first choice among the leading players of the audit. In a market eager for diversity, we deliver quality in all the services we provide, meeting our clients” needs and contributing to a fairer market and a better society.”.
“We believe that a competitive market improves the quality of the audit. For our clients, regardless of their size, Mazars offers the promise of a closer relationship and a skilled, diverse team. The importance of each of our clients—and the attention we guarantee them—is one of the Mazars values we cultivate every day,” he concludes.
Growing with a 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 audit practice continued to grow (+8.5%): today, it audits 2,400 listed companies worldwide, 1,200 of which are headquartered in Europe, 960 of which are listed on a regulated market, and more than 480 of which are listed in Europe. Mazars ranks 5th in the European audit market for large listed European companies.
In addition to auditing, Financial Advisory grew significantly (+15.71% Q3-YTD), reflecting a dynamic global transactions market. Growth in Consulting (+7.91% Q3) reflects a focus on consistent services, always in line with our mission to serve the public interest: helping clients navigate a complex regulatory environment and mitigate risks, while growing with transparency and trust.
Beyond Financial Results: The Foundations of Business Performance
Hervé Hélias adds: “Responsibility and sustainability have become key pillars of business performance and are vital to 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 so—under pressure from all sides to change the way they grow.”
Today, expectations of companies go beyond financial performance, and the role of auditors extends increasingly beyond financial transparency. In this context, Mazars’ core mission has never been more pressing. The firm reaffirms this commitment through its brand positioning, which was updated in 2020, and aims to fulfill its role as a leading auditor and advisor to help clients transform their businesses and achieve sustainable growth.
“ESG criteria are an essential part of our business’s growth equation. We have specialists dedicated to reporting on Sustainability Corporate or Corporate Sustainability Reporting Directive ”(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 chairman of the Mazars Group.
“At the same time, we are working to transform our own businesses and operations, as well as the way we work, to ensure that we meet ESG standards. In every country where we operate, and at the Mazars Group level, we have appointed leaders and teams to manage and implement our own corporate social responsibility strategy,” adds Hélias.
Do what is recommended; invest in what is important for growth
A Mazars has always been guided by its founding principles: acting responsibly, with a focus on the public interest and future generations. This commitment is taken seriously, driving innovation and transformation, and fostering continuous learning and development along the way. In 2020, the partnership The international board 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 employees and customers, as well as to society at large:
- Developing a diverse group of talented professionals. The goal is to make Mazars a center of excellence, training capable and caring leaders who lead by example.
- To provide high-quality financial audits that meet the highest professional standards.
- Develop sustainability expertise to provide ESG consulting and auditing services.
- Expand 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 services such as outsourcing tax and payroll that ensure cCompliance
- Significantly increase investments in Corporate Social Responsibility to support communities, promote an inclusive and flexible workplace for our people, and protect the planet: use a science-based approach to reduce our carbon emissions and become carbon neutral by 2030.
- To help establish standards (such as the CSRD) and conditions for a healthy audit industry capable of providing high-quality financial and ESG audits at scale.
Hélias concludes: “In 2022 and in the years to come, we will continue to invest where it matters most to our people, our customers, and society, growing responsibly and moving forward with renewed purpose and confidence. I am very optimistic about the coming year. There are opportunities everywhere. We’ve seen a recovery in the industry as well as in the global economy, and, most importantly, we have talented professionals around the world who are committed to doing what’s right to achieve our mission and ambitions.”