Mazars announces annual growth of 12.8% and accelerates international expansion

Mazars, the integrated and independent international organisation specialised in auditing, consulting, accounting, taxation and legal services, has announced a total income of €1.5 billion for the 2016 - 2017 financial year1, up by 12.8% from the previous year. This increase reflects an organic growth of 5.4% and an external growth of 7.0%. In particular, the group has benefited from the full-year impact of the integration of the Chinese firm ZhongShen ZhongHuan, which took place at the end of 2015. Over the course of the year 2016-2017, the Group expanded into new countries and territories, such as Bulgaria, Cyprus, Kosovo, Mozambique, and Tanzania; it also strengthened its presence in Sweden.

During the past four years, Mazars has seen its overall revenue surge by 45%. The Group’s international development largely contributed to this growth, evidenced by the fact that revenues outside Europe now account for 34% of total revenue, up from 27% in 2012 – 2013. This reflects the significant strengthening of Mazars’ presence in Africa, North America, and Asia. In China, Mazars is now ranked as one of the Top 10 local accounting firms. This milestone was made possible by a partnership agreement signed last August between the firms Zhongshan Yataï and Zhongshen Zhonghuan, which joined the Group in December 2015.

Philippe Castagnac, Chairman of the Mazars Group Executive Board, stated that “The faster pace of growth recorded in 2016-2017 affirms the strong momentum that Mazars has been enjoying for several years. It also reflects our ambition to be recognised as a leading international organisation. The recent expansion of our operations further strengthens our skills as well as our capacity to serve our clients across the globe”. Hervé Hélias, Group CEO and Managing Partner of Mazars in France, explained that, “Audit, on which Mazars built its reputation, is today one of those professions that have to reinvent themselves due to the combined effects of the digital revolution, new client expectations, and changes in regulations. We’re at the dawn of a new era in our business, and transformation is at the top of our priorities.”

In keeping with its approach to expanding its integrated partnership model, Mazars has continued to strengthen its presence across all continents. Since the beginning of the year, the Group has incorporated former correspondent firms from two new countries, Colombia and Uganda, into the integrated, international partnership. Meanwhile, over the past few weeks, Mazars has also finalised external growth operations in Italy, The Netherlands, Singapore, Sweden, and the United States.

Anthony Attard, Managing Partner of Mazars in Malta stated: “This news of Mazars’ continued growth, coupled with Mazars’ success in China and in other markets where the brand is leaving its mark, underlines the ever-expanding range and scope of the services that Mazars in Malta can offer its clients. As a fully integrated member of the Mazars Group, we are in a position to draw invaluable experience and resources from around the world. I am certain that our clients will greatly benefit from the strategic international developments announced by Mazars.”

Mazars’ operations now include offices in 86 integrated countries and territories. This international partnership brings together more than 20,000 professionals, including 980 partners (77 of whom were appointed in 2017), working in 300 offices around the world. With its unique structure in the audit sector, this full-service accounting firm reaffirms its 2020 objective: to reach more than €2 billion in revenues and exceed 25,000 professionals.