Mazars reports record sales and continues to expand globally
International audit, tax and advisory firm Mazars publishes its global financial results for the 2022/2023 financial year, marking the third consecutive year in which the company has achieved double-digit growth across all services. Despite the ongoing market uncertainty, revenues increased by 13 % year-on-year to 2.8 billion euros.
The company's global business results follow the recent announcement that a new global top ten network is to be launched later this year with US accounting firm Forvis.
Hervé Hélias, Chief Executive Officer of Mazars Group, said: "It has been another successful year with growth of 13%, underlining the strength and relevance of our unique integrated partnership model. The quality of our offering sets us apart and allows us to better serve our clients, attract the best talent and serve the public interest."
Growth in all regions and service areas
Results in Europe (+15.3%) and North America (+21.4%) remained strong, particularly in France, Germany, Ireland, Italy, the Netherlands, Portugal, Spain, Switzerland, the UK and the US. Latin America has achieved impressive results this year and is the fastest growing region with growth of 25.8%.
The double-digit growth of the company's service lines for the third consecutive year demonstrates a clear focus on the company's strategy and recognition of the increasing pressure felt by customers worldwide. As a result, sustainability services and consulting services are the fastest growing services at 71% and 21.3% respectively.
With this goal in mind, Mazars continues to expand into new regions and has recently opened offices in Finland, Panama and Togo. In December 2023, the company appointed 139 partners from 41 countries, including 31% women.
Mazars in Switzerland with double-digit sales growth and new office in Basel
Mazars in Switzerland also closed the 2022/2023 financial year very successfully, recording an increase in turnover of 14%. The Financial Advisory (+28%), Tax (+20%) and Audit (+16%) divisions recorded strong growth. In Switzerland, the company generated 55% of sales in the Audit division and 45% with advisory services.
Mazars has also expanded its presence in the Swiss market with the opening of a new branch in Basel in fall 2023. Basel is the company's tenth location in Switzerland. Mazars currently employs around 400 people in Switzerland.
José Caneda, CEO of Mazars in Switzerland, is delighted with the positive result: "We have once again succeeded in building trust with our customers and employees and strengthening our presence in the Swiss market. This is very pleasing and we will continue to expand our presence in Switzerland."
Beyond finance - supporting companies with a sustainable impact
The latest Mazars "C-Suite Barometer" study, conducted at the end of 2023, shows that technology and sustainability continue to have the biggest impact on businesses. Leaders are under constant pressure to digitize their businesses, evolve sustainability strategies and invest in talent that will transform the way they work.
"We have doubled our sustainability services to support our clients in their transformation and to verify the non-financial information increasingly expected by stakeholders. This is in line with our goal of laying the foundations for a fairer and more prosperous world," continues Hélias. "Without the dedicated efforts of our teams, our achievements and successes last year would have been unthinkable. As we enter the new year, we are excited about the opportunity to expand our offering in June thanks to the new ground-breaking network with Forvis. More than ever, we are committed to helping our clients build and grow their businesses with confidence."
Source: www.mazars.ch
