Mazars reached global revenue of €2.8 billion ($2.998 billion) for its 2023 financial year, up from €2.45 billion ($2.63 billion) in 2022.
2023 was the third consecutive year that Mazars’ global network of firms has achieved double-digit growth across all services (both audit and non-audit).
“It’s been another successful year with 13% growth demonstrating the strength and relevance of our unique integrated partnership model. The quality of our multidisciplinary offering sets us apart, enabling us to better serve our clients, attract the best talent, and serve the public interest,” Mazars Group CEO and Chairman Hervé Hélias said in a statement. “Building resilience has been important off the back of an eventful year and in which organizations continued to be tested. While it’s been a demanding environment, we have invested purposefully to support international growth and I’m pleased that this has remained strong. We understand the challenges our clients face now and looking ahead in the realms of international compliance, financial and non-financial reporting imperatives, and information systems security, and we are set to support businesses to achieve their ambitions.”
Performance across Europe and North America—revenues up 15.3% and 21.4%, respectively— continued to be strong, according to Mazars, particularly in France, Germany, Ireland, Italy, the Netherlands, Portugal, Spain, Switzerland, the U.K., and the U.S. Latin America was the firm’s fastest-growing region last year, with a 25.8% increase in revenue.
Sustainability services and consulting services were Mazars’ most rapidly growing service offerings at 71% and 21.3%, respectively.
Mazars continued to expand across the globe last year with new offices recently announced in Finland, Panama, and Togo. Last December, the firm appointed 139 partners from 41 countries, of which 31% are women.
“The opportunities we have pursued expand the scale of which we can deliver value for our clients throughout the world, as a trusted partner of their business,” Hélias said. “There aren’t enough players in the market to support organizations, especially as more obligations are placed upon them. There’s a lack of choice in the market and we’re building an organization capable of filling that void, helping clients avoid the risk of becoming audit orphans. As auditors and advisors, we are an essential element in the chain of trust in our economies, helping to secure the health of financial markets to the benefit of society.”
Mazars’ global results follow the news last year of its plans to create a new top 10 global network with U.S. accounting firm Forvis, which is expected to launch on June 1, 2024.
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Tags: Accounting, Firm Management
