Mazars books double-digit growth to hit record €2.8 billion revenues

20 February 2024 Consultancy.eu 2 min. read
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Global professional services firm Mazars has achieved double-digit growth for the third consecutive year, as the company pushes further to become a top ten global network.

In its 2022/2023 fiscal year, Mazars booked revenue growth of 13% to lift total fee income to €2.8 billion. 43% of that total was derived from traditional audit services, with the remainder generated from other areas of practice such as consulting, deals, financial advisory, tax, legal and outsourcing.

“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,” said Hervé Hélias, CEO and Chairman of Mazars.

Mazars books double-digit growth to hit record €2.8 billion revenues

Notably, Mazars enjoyed growth across all services despite ongoing market uncertainty, with sustainability services and consulting its fastest growing service lines at 71% and 21.3% respectively.

Performance across Europe (+15%) and North America (+21%) continued to be strong, particularly in France, Germany, Ireland, Italy, the Netherlands, Portugal, Spain, Switzerland, the United Kingdom and the United States. The star performer was however the Latin America business, which booked 26% revenue growth on the year previous.

“While it’s been a demanding environment, we have invested purposefully to support international growth and I’m pleased that this has remained strong,” Hélias said.

In June this year, Mazars will receive a major further boost to its growth ambitions, through its merger with Forvis in the US. The move will add $1.7 billion to the footprint of Mazars, bringing it closer to a top 10 position in the world’s largest accounting and consulting networks (the firm currently holds 14th place).

“As we step into a new year, we are excited by the opportunity to advance the scale of our offering through the merger with Forvis and, more than ever, we are committed to helping our clients confidently build and grow their businesses.”

Mazars has more than 50,000 professionals in over 100 countries and territories around the world.