BrazilMazars and Nexia International announce 2019 financial year results
Two of the world’s largest accounting and consultancy networks – Nexia International and Mazars – have announced their 2019 results.
Following on from the biggest players in the space – led by Deloitte with a whopping take of $46.2 billion – global accounting and consulting networks Nexia International and Mazars have been the next in line to announce their 2019 financial year results, pulling in combined respective revenues of $4.3 billion and ~$2 billion. For Mazars, much of its growth has come in the Asia Pacific, up by over 22 percent.
Headquartered in Paris, the firm altogether achieved double digit gains for the year to September, including its highest rate of organic growth (nearly 90 percent of the revenue generated) since the 2011-2012 period. The Asia Pacific today accounts for 15 percent of the network’s fee income, with China in particular a stand-out last year, growing by almost one fifth with a headcount now in excess of 4,000.
Altogether, the network boasts more than 40,000 professionals operating out of 300-plus offices in over 90 countries and territories, with its European business accounting for the bulk of its fees, at around two thirds. Audit and accounting, too, remain Mazar’s biggest money spinners – also making up close to two thirds of its income combined. Its consulting line, however, saw growth of over 24 percent last year.
“This outstanding performance comes from a combination of the high level of expertise and strong commitment of our teams to deliver our clients with a seamless experience globally, as well as a true recognition of the benefits of Mazars’ uniquely integrated partnership model,” said Mazars Group CEO & Chairman Hervé Hélias, a thirty-year veteran of the firm who took over as chair at the beginning of last year.
Ranked within the top twenty networks of its kind worldwide, Hélias revealed ambitious further growth plans for the year ahead, and cited expansion in China as having been among the firm’s top strategic priorities over the past four years. “Today, I am very proud to say that these objectives have been met. Our goal in 2020 is to reach 2 billion euros in revenues, and I feel confident that we will achieve this”.
Meanwhile, one of the world’s top-ten players – mid-tier firm Nexia International – has also reported solid growth over the past year. Having broken through the $4 billion barrier in its previous reporting period, Nexia has since pushed on to global revenues of $4.3 billion, up by 7 percent worldwide. While growth occurred in every region, Nexia noted North and Latin America as its strongest performers.
While Crowe and Baker Tilly are still yet to report, the results should see Nexia hold its ninth spot among networks. “This global revenue increase is great news for Nexia,” said group CEO Kevin Arnold. “It builds on the regular and consistent growth we have enjoyed over the last ten years and reflects the investment of our structures and ambition to meet the growing needs of member firms and new clients.”
