BrazilAccenture pushes global revenues to $43.2 billion for 2019
Professional services firm Accenture has reported revenues of $43.2 billion for its 2019 fiscal year – with all of Singapore, China and Japan up by double digits for the last quarter.
Global multi-disciplinary professional services giant Accenture has in local currency terms grown its revenues by 8.5 percent during fiscal 2019 to record takings of $43.2 billion – up from $39.6 billion for the year previous. Consulting revenues accounted for $24.2 billion of the overall figure against the $19.0 billion derived from outsourcing, while the firm’s ‘Growth Markets’ geography which includes Asia brought in $8.55 billion, up 14 percent.
“I am proud that we have delivered another year of outstanding financial results, meeting or exceeding all the objectives in our initial business outlook for fiscal 2019,” said Accenture CEO Julie Sweet, who took over the helm at the beginning of the month. For the year, our record new bookings of $45.5 billion and revenue growth of 8.5 percent in local currency demonstrate excellent demand for our services, and we gained significant market share.”
Bringing in almost $20 billion alone, the firm’s North American geography continues to lead its Europe division, recording growth of 9 percent against Europe’s 5 percent, the latter of which contributed $14.68 billion to overall revenues. Meanwhile, the firm’s growth markets bracket, which includes the Asia Pacific, Latin America, Africa, and he Middle East and Turkey, backed up from growth of 16 percent last year with another mid-teen rise of 14 percent to $8.55 billion.
According to the Accenture’s services categories, both its strategy & consulting and technology services lines rose by high single-digit figures, contributing respectively $14 billion and $20 billion of the total, while ‘operations’ rose by double-digits to $6 billion. In terms of its emerging tech divisions – or ‘The New’ – ‘digital’ brought in nearly half of the total at $21 billion, ‘cloud’ contributed $11 billion, and ‘security’ $2.5 billion, together recording 20 percent growth.
As a breakdown by industry, Accenture’s ‘resources’ operating group experienced the biggest jump in 2019, up 18 percent in local currency terms to $6.77 billion, while its ‘products’ group brought in the most cash, up 9 percent to $12 billion. Elsewhere, Communications, Media & Technology has overtaken Financial Services on the back of 9 percent growth, recording revenues of $8.76 billion compared to $8.49 billion, the latter growing by just 3 percent.
Interestingly, the growth figures by industry roughly correspond to Deloitte’s, which, as the Big Four stray ever further from their accountancy roots, and emerging digital technologies continue to disrupt just about every facet of business, is converging with Accenture in a number of markets. While Deloitte continues to streak ahead of its traditional rivals – recording 2019 revenues of $46.2 billion – its growth trajectory since 2012 has also been relatively on par with Accenture.
In a statement, Sweet also highlighted Accenture’s strong profitability in 2019 – net income rose from $4.21 billion to $4.85 billion year-on-year – as well as the firm’s business investments throughout the year, which include an unprecedented and ongoing acquisition spree. “As we look ahead to fiscal 2020, we will continue to be laser-focused on creating value for our clients, being a magnet for the best people in the industry and maximising shareholder value,” Sweet stated.
