Geneva, 2 March 2021 – Mazars in Switzerland, a major player in the audit, tax and advisory field, today announces an increase of revenues of 13%. Mazars Group reached revenues of €1.9 billion in its 2019/2020 financial year (1 September 2019 – 31 August 2020), representing a 7.8% increase (excluding forex impact of -0.3%) compared to the previous financial year.
Good balance of audit and advisory activities
Today, audit activities account for 47% of Mazars’ revenues in Switzerland, while advisory activities represent 53%. The performance of all service lines drives the excellent results for the 2019/20 financial year, with a 15% increase in audit activities, 18% in outsourcing and 3% in advisory services. Remaining strong in its core market, the middle market, Mazars in Switzerland has improved its market share in the large corporate segment. Despite the pandemic, the company saw an 18% increase in its number of employees in 2020.
Commenting on the firm’s financial performance, José Caneda, CEO of Mazars in Switzerland, says: “For people, businesses and society, 2020 has been a year like no other. Amid a global pandemic, with our focus on keeping our people safe as well as their workplaces and continuing to deliver top quality services to our clients, Mazars has shown remarkable resilience achieving 13% pure organic growth in Switzerland and 7.8% growth at group level. Our people’s remarkable efforts to continue serving our clients and carry out their assignments enabled us to do more than just weather the storm in 2020.”
New Swiss partners
In 2020 Mazars’ international partnership welcomed 78 new international partners from 30 countries. The new partners represent varied areas of services as well as regional diversity. Four new Swiss partner have been appointed to strengthen the international partnership and support Mazars' growth in Switzerland: Michael Ackermann (audit), Yves Gottofrey outsourcing), Deborah Joye (tax) and Giuseppe Sottile (tax).
Committed to bringing a different perspective and shaping a healthier audit industry
In October 2020 Mazars launched its new brand identity which reaffirms its purpose and long-standing values of integrity, responsibility and accountability. The rebrand celebrates how Mazars has transformed without compromising its culture, values or unique business model and how it brings choice and a different perspective to the audit, tax and advisory market.
Because of its strong position on the audit market for large companies, Mazars takes responsibility in ensuring auditors, who have a mission of public interest, can deliver against the expectations. In the light of a changing environment and a call of regulators all over the world for more choice and quality in delivering audit, Mazars wants to stand at the forefront of the audit debate, to promote significant changes in the profession and calls for a public debate involving all stakeholders.