I was so caught up last week reading and writing about Mazars USA’s scandalous poaching of three CohnReznick partners that I didn’t realize Mazars released its global revenue results for the financial year that closed on Aug. 31, 2019.
It’s your typical revenue growth for a firm of Mazars’ size—up from €1.6 billion in 2018 to €1.8 billion ($1.98 billion) last year.
Decent revenue growth aside, the only other thing Mazars could pull out of its ass to try to make its 2019 revenue announcement somewhat more interesting was highlighting the alliance it formed last summer with a few U.S. firms no one really cares that much about:
2019 also saw the signing of the Mazars North America Alliance in July. The Mazars North America Alliance is a milestone agreement between Mazars and five leading firms in the United States and Canada – BKD, Dixon Hughes Goodman, Moss Adams, Plante Moran (U.S.) and MNP (Canada). The Mazars North America Alliance is a game changer for Mazars, allowing the firm to achieve extensive coverage in North America, and to provide its international clients with access to an additional 16,000 professionals in the region. Mazars now has 40,400 professionals serving clients around the globe (24,400 professionals in Mazars’ integrated partnership), and 318 offices across 91 countries and territories.
Here are some other revenue numbers, by region and by business line, for the 2019 financial year, according to the press release:
All regions enjoyed strong revenue growth in 2018/2019: 7.8% in Western Europe, 13.6% in Central & Eastern Europe, 12.1% in North America, 13.1% in Latin America, 9.4% in Africa & Middle East, with the strongest growth in Asia-Pacific (22.6%). Asia-Pacific now represents 15% of Mazars’ total revenues. In China, the firm has over 4,000 staff and over 30 offices; Mazars’ China operations now serve as many as 137 large listed companies and enjoyed a 19% growth in revenues last year. In Australia, Mazars grew by 100% in 2019, thanks to the integration of two local firms.
To support the evolving needs of its clients, Mazars has built a significant offering in advisory, tax and compliance services. Today, audit and accounting comprise 63% of total revenues, advisory 37%.
While expanding geographically, Mazars has enjoyed sustained growth across each of its business lines. Growth in 2018/2019 was: audit +8.5%, accounting and outsourcing services +8.2%, consulting +24.2%, tax +9.9%, legal +34.9% and financial advisory services +9.5%.
Way to go everyone in Mazarsland.