Last Updated on Friday, 11 February, 2022 at 11:26 am by Andre Camilleri
Mazars, the international audit, tax and advisory firm, today announces fee income of €2.1bn in its 2020/2021 financial year (1 September 2020 – 31 August 2021), representing a 12.3% increase (excluding forex impact of -1.6%) compared to the previous financial year. The increase in fee income comprises strong organic growth (9.4%), complemented by external growth of 2.7%.
Commenting on the firm’s financial results, CEO and Chairman of Mazars Group Hervé Hélias said that “2021 was an excellent year in terms of our business and financial performance. All our service lines and geographies progressed well, and we won significant new business across large and listed companies as well as businesses of all sizes, including major international corporations. Our double-digit growth confirms the strength and resilience of our unique integrated model. It is well balanced between regulated and non-regulated services, which reflects our long-term strategy to invest in a core suite of high-quality audit, tax and advisory services that help our clients grow confidently and responsibly.”
Financial transparency and trust are the essence of a fair and prosperous economy and Mazars remains, more than ever, committed to delivering high-quality audits to companies around the world. In 2021, the firm continued to grow its audit practice (+8.5%): today Mazars audit 2,400 PIEs worldwide, 1,200 headquartered in Europe, 960 listed on a regulated market, and more than 480 listed in Europe. Mazars is ranked 5th in the European audit market for large and listed European companies.
Beyond audit, Mazars also grew significantly in financial advisory (+15.7%), which reflects a vibrant transaction market globally. Its growth in consulting (+7.9%) reflects Mazars’ focus on services that are consistent with its core mission to serve the public interest: Mazars helps its clients to navigate a complex regulatory environment and mitigate the risks, and to operate and grow with transparency and confidence.
Meanwhile, Mazars in Malta also registered a very positive performance during this reporting period. In fact, the firm, which now employs 69 professionals under the leadership of four partners, recorded a 22% increase in fee income, up to €4.69 million. Commenting on these results, Managing Partner Anthony Attard highlighted the perseverance, resilience, commitment and professionalism demonstrated by the firm’s employees during the COVID pandemic. “Despite facing another challenging year, our people remained focused on delivering a high-quality service to and creating significant value for our clients. Encouraged by this year’s results, we remain committed towards maintaining the highest possible quality standards, thus serving the best interests of all our stakeholders.”
CEO and Chairman of Mazars Group Hervé Hélias concluded by stating that “Responsibility and sustainability have become important foundations of business performance and are vital to build confidence and trust in markets, corporations and public institutions. In 2022 and beyond we will continue to invest where it matters for our people, our clients and society, growing responsibly and moving forward with renewed purpose and confidence.”