Annual growth of 16.4%, with 13.3% of organic growth, demonstrates the robustness of Mazars' integrated partnership model.
- Increased growth since 2007 reaffirms Mazars' position as a leading international audit, tax and consulting firm.
- Double-digit growth in all regions and in all service lines points to the relevance of and confidence in Mazars' international development and its balanced multidisciplinary strategy.
- In Portugal, Mazars is keeping pace with the double-digit results achieved globally, recording a turnover growth of around 17% in this period, reinforcing the goal of maintaining growth and consolidating the position achieved in recent years.
February 14th, 2023: Mazars, the international audit, tax and consulting firm, today released its global results for fiscal year 2021/2022 (fiscal period from September 1, 2021 to August 31, 2022), highlighting double-digit growth of 16.4% and reaching a turnover of 2.45 billion euros. The increase in overall revenue reflects strong growth in all regions and service lines (additional details below).
These results reaffirm Mazars' strong international position and the relevance of its unique integrated partnership model. In addition, the results contribute to increased confidence in the firm's continued ability to create value for clients. In a rapidly evolving environment, Mazars supports companies of all sizes in their mission to grow responsibly; comply with an increasing number of complex regulations; adopt transformations to improve their business operations or internal systems; and respond to the expectations of regulators, talent and society to ensure long-term performance.
"2022 was an eventful year that tested the agility of companies around the world. These disruptions, which accompany long-term trends including digitalization and sustainability, can be challenging, but at the same time offer opportunities to grow, develop and explore new ways of creating value. In this unstable context, Mazars' role is, more than ever, to be a trusted partner for clients," says Hervé Hélias, CEO and Chairman of the Mazars Group.
Balanced growth across the entire service portfolio and in all regions
The strong performance in all regions and service lines reflects, on the one hand, the international expansion of Mazars, which operates on a global scale as 'one team, one firm', with a presence in almost 100 countries. On the other hand, it highlights the importance of the firm's multidisciplinary approach: Mazars' development strategy involves maintaining a balance between regulated services (auditing) and tax, consulting or advisory services. The firm is convinced that a diversified portfolio is essential for audit quality, for the relevance of the services provided to clients, for attracting and retaining the best talent and, ultimately, for the public interest.
"Despite a complex global environment, 2022 was an excellent year for Mazars across all geographies and service lines. Our performance confirms the quality and relevance of our services. Mazars' ability to continuously grow its position as an auditor of large and listed companies offers an alternative and different perspective to a highly concentrated market; this competition is essential for the healthy functioning of financial markets. Mazars also offers in-depth knowledge of the environments, themes, trends and specificities of each area and stands out as a leading financial services audit firm, working with some of the largest organizations in the sector," adds Hervé Hélias, commenting on Mazars' global results.
Beyond finance: technology and sustainability are top business priorities for retaining talent, promoting quality and improving the customer experience.
In 2022, Mazars' annual C-suite barometer highlighted technology and sustainability as the two main trends with the greatest impact on business. All over the world, leaders are under pressure to adapt and digitize their businesses and operations, change the way they work and ensure sustainable growth in order to remain attractive and competitive. Mazars is no exception to these trends, which continue to be critical areas of investment for the firm.
"At a time when auditing is at a critical stage, Mazars has an ambitious program to reinvent and digitize the sector for the benefit of clients, auditors and the entire business ecosystem. We are investing in technologies that bring added value in real time to our clients' decision-making and experience, and in advanced data analysis tools that allow us to improve our auditors' work. We are also focusing our efforts on upgrading a broad spectrum of technology-based consulting services, including tax, financial, consulting and sustainability services," adds Hélias.
Like technology, sustainability has become an important foundation for business performance and reputation in society.
Hélias continues: "Like most organizations today, we have a responsibility to evolve our business model to be sustainable in the long term. In this sense, we have a clearly defined sustainability strategy, which is built on five pillars - integrity, people, environment, community and offering sustainability services to our clients. As well as delivering on our own promises, we have a duty to help them transform by directing ESG resources to where they are most needed and helping them overcome the challenges of non-financial reporting. That's why Mazars is investing heavily in team qualifications, particularly by creating hybrid auditors who are bilingual in financial and non-financial reporting, guaranteeing their career progression."
s auditors and consultants, Mazars has a key role to play in restoring trust in society and promoting greater transparency. Now more than ever, companies must ensure that the actions they take today contribute to the future they want to build tomorrow. "At Mazars, we aim to do just that: transform and invest where it matters to help our clients navigate this evolving landscape and grow responsibly," concludes Hélias.
Portugal: maintaining growth at a decisive moment in the market
As far as Mazars in Portugal is concerned, the results are in line with the global level. In fiscal year 2021/2022, Mazars in Portugal achieved a turnover of €14.8 million, reinforcing and consolidating its position in the Portuguese market as one of the leading audit, tax and consulting firms.
In 2022, the firm launched its sustainability service line in Portugal, an imperative in the life of companies, which is part of a committed vision that generates new opportunities supported by new skills, guaranteeing a complete, diversified, attentive and innovative service offer that is professional and of high quality.
In the coming years Mazars wants to continue to accelerate the firm's transformation and strengthen its position as a benchmark in complementary dimensions: offering a different perspective in the areas of auditing, tax and consulting - for which investment in technology is necessary; continuing to improve the service provided and developing talent as a knowledge-intensive organization and school of excellence.
The market is going through a turning point: customer expectations are changing, technology is empowering professionals and the focus is on consolidating quality and trust, presenting solutions that guarantee efficiency, quality, recurrence, talent retention, sustainability and growth for organizations.
"Today's expectations of companies go beyond financial performance and the core mission of a firm like Mazars has never been more pressing, reaffirming its commitment to playing its role as a leading auditor and consultant to help clients transform themselves with a view to sustainable growth," says Mazars' Managing Partner in Portugal, Luís Gaspar. "Mazars has been gaining an increasingly important position in the audit, tax and consulting market in Portugal. The results obtained are based on a strategic plan of growth and diversification of the offer and enhancement of quality, in a market where trust is, and will continue to be, decisive," adds Luís Gaspar.
Highlights of Mazars' global results 2021/2022
- Turnover as of August 31, 2022: 2.45 billion euros
- Double-digit growth 16.41TP3Q, including exchange rate impact of +2.91TP3Q and 13.31TP3Q of organic growth
- Growth of service lines:
o Audit (43%) +15.5% [Mazars audits 2,700 public interest entities worldwide, of which 1,300 are based in Europe and 960 are listed on the regulated market, including 480 listed in Europe. Mazars ranks fifth in the European audit market for listed European companies.
o Consulting (11%) +9.6%
o Financial advisory (8%) +29.7%
Legal (2%) +18.6%
o Outsourcing (18%) +14.3%
o Tax (18%) +15.9%
- Growth in the regions:
o Africa & Middle East +21.7%
o Americas +22.4%
Asia-Pacific +17.1%
o Europe +14.6%
- Six new countries in the Mazars integrated partnership: Bosnia and Herzegovina, Burkina Faso, Latvia, Lithuania, North Macedonia and Zimbabwe.
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Note to editors
To find out more, consult Mazars' 2021/2022 financial documents here. To find out more about Mazars' C-suite barometer click here. here.
Contact
Jorge Magalhães Afonso, SayU Consulting
jm.afonso@say-u.pt // +351 966 603 799
Lorraine Hackett, Group Brand & Communications Director, Mazars
lorraine.hackett@mazars.co.uk // +44 (0)7881 283 962
About Mazars
Mazars is an integrated international partnership specializing in audit, accounting, advisory, tax and legal services*. Operating in approximately 100 countries and territories around the world, we draw on the expertise and more than 47,000 professionals - 30,000+ in the Mazars integrated partnership and 17,000+ through the Mazars North America Alliance - to support clients of all sizes at every stage of their development.
*when permitted by local legislation.
In Portugal, Mazars is present in 3 cities (Lisbon, Porto and Leiria) and has more than 230 professionals.