Mazars’ record global revenues confirm strength of its international, integrated, multidisciplinary strategy

• Year-on-year growth of 16.4%, including 13.3% organic growth, demonstrates the strength of Mazars’ integrated partnership model.

• Highest growth since 2007 confirms Mazars’ position as a leading international audit, tax and advisory firm in a concentrated market.

• Double-digit growth in all regions and all service lines suggests the relevance of, and confidence in, Mazars’ international development and balanced multidisciplinary strategy.

Mazars, the international audit, tax, and advisory firm, has released its global financial results for the 2021/2022 financial year, highlighting double-digit year-on-year growth of 16.4%, reaching €2.45bn in fee income. The increase in revenue comprises strong growth across all regions and services, both audit and non-audit (full details below).  

This financial performance showcases Mazars' strong international standing and the significance of its integrated model, while increasing confidence in the firm's continued ability to provide value to clients. In a rapidly changing environment, Mazars assists companies of all sizes in growing responsibly, complying with complex regulations, embracing transformations, and meeting the expectations of regulators, talent, and society to ensure long-term performance.

Balanced growth across regions and portfolio of activities

Strong performance across regions and services reflects on the one hand, Mazars’ international expansion, operating at scale effectively as ‘one team, one firm’, with a presence in nearly 100 countries. On the other hand, it highlights the relevance of the firm’s multidisciplinary approach: Mazars’ development strategy is to keep the right balance between its regulated services and its tax, consulting, or advisory services. The firm is convinced this diverse portfolio is essential to the quality of audit, the relevance of the services rendered to clients, the attraction and retention of the best talent and, ultimately, the public interest.

Commenting on Mazars' global financial results, Uhabia Ojike, Managing Partner, Mazars in Nigeria, notes that "the double-digit growth in fee income and the continued growth and success of the firm across regions and service lines is a testament to the dedication of our professionals worldwide. We remain committed to growing responsibly and embracing transformation to the benefit of our clients, talent, and society.”

Mazars’ 2021/2022 global financial results highlights

• Fee income as at 31 August 2022: €2.45bn
• Double-digit year-on-year growth at 16.4%, including forex impact of +2.9% and 13.3% organic growth

• Growth in service lines:
  • Audit (43%) +15.5% [Mazars audits 2,700 public interest entities worldwide, of which 1,300 are headquartered in Europe and 960 are listed on a regulated market, including 480 listed in Europe. Mazars is ranked fifth in the European audit market for listed European companies.]
  • Consulting (11%) +9.6%
  • Financial advisory (8%) +29.7%
  • Legal (2%) +18.6%
  • Outsourcing (18%) +14.3%
  • Tax (18%) +15.9%

• Growth in regions:
  • Africa & Middle East +21.7%
  • Americas +22.4%
  • Asia Pacific +17.1%
  • Europe +14.6%

• Six new countries in Mazars’ integrated partnership: Bosnia and Herzegovina, Burkina Faso, Latvia, Lithuania, North Macedonia and Zimbabwe.

Beyond financials: technology and sustainability as key business priorities to retain talent, foster quality and enhance client experience

The firm's annual C-suite barometer highlights that technology and sustainability are the top two trends with the greatest impact on businesses. To remain attractive and competitive, leaders must adapt and digitize their businesses, operations, and work practices, and ensure sustainable growth. In response, Mazars is investing in technology to enhance clients' decision-making and experience, advanced data analytics tools for auditors, and technology-powered advisory services. Sustainability is also a critical investment area for the firm, with a clearly defined sustainability strategy and investment in upskilling teams, particularly in non-financial information.

Mazars in Nigeria 2021/2022 local financial results highlights

In Nigeria, Mazars has achieved a substantial year-over-year growth of 38.87%. This noteworthy increase is a testament to the firm's commitment to delivering exceptional services and maintaining a strong presence in the local market.

"Our growth locally is a direct consequence of the dedication and efforts of our partners and teams, who strive to provide outstanding audit, tax, and advisory services to our clients," Uhabia states about Mazars in Nigeria's local results. "This growth is also evidence of our commitment to maintaining a strong presence in the Nigerian market."

“Celebrating our exceptional global and local financial results, we remain energized to stay true to our commitment to our clients, our people, and society. At Mazars, we strive to build an equitable, prosperous world, and we believe in taking decisive actions now that contribute to our vision of the future. To accomplish this, we are investing in cutting-edge technologies that deliver real-time value to clients, enhancing our technology-driven advisory services across a broad spectrum, and integrating advanced data analytics tools to augment the work of our auditors. By doing so, we are equipping our clients with the insights and guidance they need to navigate a rapidly changing business environment and drive responsible growth.”