13% increase in revenues strengthens BDO’s position as the leading mid-tier global accounting and consulting network
- Revenues up 12.95%
- 19 strategic mergers
- Growth of US firm continues: a 29% rise in revenues takes BDO USA over US$ 1 billion
- Focus on emerging markets reaps rewards
BDO is pleased to announce today a total combined fee income for the year ended 30 September 2015 of US$ 7.30bn. This represents a year on year growth of 12.95%, at constant exchange rates.
The IAB 2015 Network of the Year Award winner now has representation in 154 territories, the result of expanding the network’s global footprint to offer clients a full service offering in the countries that are key for them. The number of offices has risen over 6% to 1,408 and BDO’s global headcount numbers 64,303, an increase of 8.2%.
The network’s growth can be attributed to:
- The consolidating accountancy profession
- An effective expansion strategy in all regions, resulting in a large number of mergers, many significant, and tangible growth in the revenues of each region: EMEA +3%, Americas +22%, Asia Pacific +10%*
- Sustained organic growth in the developed, as well as emerging economies
- A number of new firms, together with the strengthening of firms in existing territories.
*at constant exchange rates
These factors bring new people, talent and expertise to the BDO network. Taken together with an impressive partner to professional staff ratio of 1 to 9, they further enable us to deliver the exceptional client service for which we are known.
NB. all the above statistics include BDO’s exclusive alliances
Martin van Roekel, global CEO of BDO was recently in Australia and highlighted the importance of the region to BDO’s global ambitions. Australia’s FY15 revenue was approximately $250 million.
“I was extremely pleased to be in Australia for BDO’s East Coast Partnership’s conference,” he said.
“BDO Australia is a critical component of our global growth strategy for the next five years and I am very confident we have the leadership team in place to deliver.
“BDO’s Sydney and Melbourne teams are quickly establishing a reputation as some of the foremost experts in the country for services such as transfer pricing, along with the good work we have always done in audit and general tax.
“Last week’s partner conference provided a great opportunity to put the strategies in place to continue to build on this success and expand into new territory as well.
“I’m looking forward to a very bright future for BDO Australia, led by strong growth in the Sydney and Melbourne teams.”
“The mid-tier accountancy market has become increasingly consolidated in recent years, driven by the requirements of an ever-growing number of global clients requiring international expertise.
“The concurrent challenges of increasing costs, a shrinking talent pool, the need to invest and to manage regulation demands mean that most of the firms and networks outside the six largest have very small market shares and are starting to assess the sustainability of their margins.
“Having to consider a merger or acquisition in order to survive is a very real eventuality.
“Our growth achievements and ongoing merger activity, gives me the confidence that BDO is well placed to continue building on our success, as both public and private entities are attracted to the breadth and quality of our service offerings and our industry expertise.
“We have an efficient infrastructure, proven global capabilities and the momentum and power to continue at the forefront of the ongoing consolidation of the mid-tier.”