13% increase in revenues strengthens BDO’s position as the leading mid-tier global accounting and consulting networkBDO 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
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.
Martin van Roekel, global CEO of BDO said: “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.
“As well as winning a number of significant global clients in the past year, BDO has been the recipient of a range of awards, recognising our exceptional standards and service delivery. Alongside awards won by member firms at local level, we were proud to receive the IAB Network of the Year and the International Payroll awards this year. It is this sort of consistent success, together with our growth achievements and ongoing merger activity, that 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.”