Mazars announces another year of record revenues as it builds global ambition

• Third consecutive year of double-digit fee income growth achieved across all service lines.
• 13.3% year-on-year organic growth, demonstrating the resilience and adaptability Mazars has built through its integrated partnership model operating in over 100 countries and territories.
• Revenue contributions of 43% audit and 57% non-audit emphasize the balance and strength of the firm’s multidisciplinary strategy to grow with purpose.
• The US revenue grew by 17% in fiscal year 2023.

The firm’s global results follow the recent news of its plans to create a new top ten global network later this year with US accounting firm FORVIS.

Hervé Hélias, Chairman of the Executive Board at Mazars Group said: “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”.

“Building resilience has been important off the back of an eventful year 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.”

Strong US results

Growth in the US spanned all our key sectors and service lines across Public Interest Entities and Privately Owned Businesses. In 2023, all key industry sectors including Financial Services, Real Estate, Manufacturing & Distribution, Technology, Media & Telecommunications (TMT) and Healthcare contributed profitable growth across the Audit, Tax and Consulting service lines. In addition, our entry into the Boston market through the integration of Samet & Co contributed 6% to revenue growth.

“We continued to deliver against our strategic plans in 2023 by delivering high-quality services and deepening our capabilities in our service lines and key sectors in the US,” said Victor Wahba, Mazars US Chairman and CEO. “Our growth in the US demonstrates that we invested in the right technology, built deeper resources in local markets, and have grown our teams in specific areas to address our clients’ evolving needs in a challenging economic environment for many organizations.”

Growth across our regions and service lines

Performance across Europe (+15.3%) and North America (+21.4%) continued to be strong, particularly in France, Germany, Ireland, Italy, the Netherlands, Portugal, Spain, Switzerland, the UK and the US. Latin America has shown impressive results this year, as our fastest growing region, with 25.8% growth.

The double-digit growth of the firm’s service lines for the third consecutive year shows a clear focus on its strategy and recognition of the increasing pressures felt by clients worldwide. As a result, sustainability services and our consulting services are the most rapidly growing offerings at 71% and 21.3% respectively.

Mazars continues to expand in new territories with new offices recently announced in Finland, Panama and Togo. In December 2023, the firm also appointed 139 partners from 41 countries, of which 31% are women.

Beyond financials – supporting business with lasting impact

The most recent Mazars C-suite barometer, conducted at the end of 2023, highlighted that technology and sustainability continue to have the biggest impact on businesses. Leaders have been under consistent pressure to digitize their business, evolve their sustainability strategies and invest in talent that will change the way they work.

Helias comments: “We’ve doubled down on our sustainability services to support our clients with their transformation and to provide assurance on non-financial information, which are increasingly expected by stakeholders. This is in line with our purpose to help build the foundations of a fairer, more prosperous world.”

“Overall, our performance and success in the last year would not have been possible without the dedicated involvement of our teams. As we step into a new year, we are excited by the opportunity to advance the scale of our offering through the new pioneering network with FORVIS in June and, more than ever, we are committed to helping our clients confidently build and grow their businesses.”

Contacts

For further insights and interview opportunities, contact:

Heather McMaster                                   

Global Head of PR and Content

E: Heather.McMaster@mazars.co.uk

T: +44 20 7063 4165

Olivia Collins

Marketing Manager

E: Olivia.collins@mazarsusa.com

About Mazars 

Mazars is an internationally integrated partnership, specialising in audit, accountancy, advisory, tax and legal services*. Operating in over 100 countries and territories around the world, we draw on the expertise of more than 50,000 professionals – 33,000+ in Mazars’ integrated partnership and 17,000+ via the Mazars North America Alliance – to assist clients of all sizes at every stage in their development.

*Where permitted under applicable country laws

http://www.mazars.com | http://www.linkedin.com/company/mazars | https://twitter.com/mazarsgroup

Mazars USA LLP

Mazars USA LLP is an independent member firm of Mazars Group, an international audit, tax and advisory organization with operations in 100+ countries and territories. With roots going back to 1921 in the US, the firm has significant national presence in strategic geographies, providing seamless access to 33,000+ professionals around the world. Our industry specialists deliver tailored services to a wide range of clients across sectors, including individuals, high-growth emerging companies, privately-owned businesses and large enterprises.