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BDO Global announces financial results 2019

05 December 2019

BDO announces today a total combined fee income of US$ 9.6 billion for the year ended 30 September 2019, representing a 10.1% year-on-year growth at constant exchange rates.

Key takeaways:

  • 10.1%* increase in global revenues – up from + 8.3% in 2018 - cements BDO’s position as fastest-growing global organisation in the profession over the last 10 years
  • Focus on leadership ambition is delivering: a combination of significant organic growth and strong M&A activity
  • BDO’s 88,000+ professionals worldwide are readily embracing future-oriented technology, transforming BDO’s client service approach by applying skills and insights with a digital mindset
  • An innovation-first approach is driving business efficiency and value for clients
  • Focused market efforts and strategic M&A activity are helping to establish BDO as leaders in their chosen markets
*at constant exchange rates
 
BRUSSELS, 5 December 2019: BDO announces a total combined fee income1 of US$ 9.6 billion / € 8.5 billion, for the year ended 30 September 2019, representing a year on year growth of 10.1% at constant exchange rates (+12.8% in euro; +6.9% in US$).
 
At year-end 2018, global CEO Keith Farlinger stated that his dream for BDO – focused on the concept It’s time for BDO to lead - is one of a people organisation that delivers innovation and value every day. As Keith himself puts it: “My ambition for BDO is to be a global organisation of leaders. We are one organisation, united under a common cause”.
 
In 2019 all BDO firms are actively embracing the global dream and bringing it to life in their day-to-day business. The organisation’s fundamental reason for being is outlined in its WHY, or purpose: People helping people achieve their dreams. This shapes how BDO people work with their clients, support their colleagues and interact with their communities.
 
One of the benefits of having a clearly stated WHY is reflected in the organisation’s consistent expansion in headcount, which is up 10% this year to 88,120 people: inspired by the WHY, people want to work for BDO. Working out of 1,617 offices worldwide, they are available to support clients as they grow and wherever they conduct their business.
 
Now represented in 167 countries and territories, the Americas remains the organisation’s largest region @ 52.7%, with EMEA @ 34.9% and Asia Pacific @ 12.4%. BDO’s impressive growth is evident across all regions, with the strongest revenue increase in the Americas (+15.7%). The EMEA region also performed well (+12.9%), while in the Asia Pacific region, a number of firms have evidenced spectacular growth, including Pakistan (+38%), India (30%) and Indonesia (+21%).
 
Audit & assurance remains BDO’s largest service line, bringing in 42.4% of revenues. This figure is less than in 2018, as advisory and business services & outsourcing have increased their contribution, @ 21.2% and 15.4% respectively. Tax services income remains similar to last year, @ 21.1%.
 

 

Key factors in BDO's financial strength:

 

Choosing to be LEADERS IN OUR MARKETS

BDO firms aim to be leaders in their markets and as these markets are subject to continual technological transformation, the organisation continues to diversify in order to provide new digital solutions. This allows BDO to bring its clients insight and opportunities.

This approach is empowered by strategic merger activity and relevant business-critical acquisitions - in cybersecurity and digital solutions, for example.
 

Choosing to lead in INNOVATION

BDO sees innovation driving value for clients and improving business efficiency and profitability. BDO’s culture of innovation is spear-headed by the increasingly influential BDO Innovation Hub, which promotes innovative projects and encourages collaboration. It has accelerated the co-creation of new ideas and the development of products, services and tools which benefit both clients and BDO firms.

The shining example in BDO’s drive for innovation is their bespoke software, APT Next Gen. Working in collaboration with Microsoft, BDO has invested heavily in designing a globally scalable and secure platform. APT NG includes all the digitally enabled processes, methodologies and connected platforms to meet BDO partners’ and their clients’ specific business needs. This enables them to create new ways to interact and work together.

Powered by leading technology, APT and other BDO platforms such as the Global Portal and Digital Suite are driving efficiency, streamlining the exchange of information and ensuring an improved digital experience and enhanced data analytics capabilities.
 

Choosing to lead as ADVISERS OF THE FUTURE

BDO’s people make the difference – and they are embracing AI and technology to improve the service and value they can create for their clients. There has been a strong focus on enhancing the digital quotient (DQ) mindset of all of our 88,000-plus professionals: but the importance of human interaction has not been neglected. The BDO difference lies in remaining a people business, one that combines digital skills with relationships built on trust and a deep understanding of clients.  BDO people share a common objective: the proactive creation and implementation of business solutions and creating value for our clients.
 
Global CEO Keith Farlinger comments: “This year, all BDO firms have evidenced the power of sharing the same global dream as leaders, proactively advising our clients with future-oriented solutions. In creating new ways to interact with our clients and with each other, we are shaping ourselves for the BDO of tomorrow".
 

Content adapted from BDO Global