Strong global economic activity over the past 18 months has led to increased demand for global services, across most business lines and industries. BDO's investments in key talent, services and technology provide the foundation to grow, develop our people and deliver sustainable customer-focused solutions.
BRUSSELS, December 12, 2022: BDO announces total combined fee income* of USD 12.8 billion / EUR 11.8 billion for the year ended September 30, 2022, representing 12.1% year-on-year growth at rates constant exchange rate (+20% in US dollars, +8.76% in euros).
*including exclusive BDO alliances
The Americas region is the one that has grown the most, with a strong increase of +14.5% in revenues. BDO in the United States reported revenue growth of almost 25%. In Asia Pacific, most of our markets have performed very well. Due to the ongoing challenges of the health crisis and the resulting restrictions, China is temporarily experiencing flattened growth. In EMEA, and particularly in Europe, growth has been affected by ongoing geopolitical issues and conflicts. We are experiencing stable and strong growth in the UK and German markets and we are pleased to see that our strategic focus has led to increased brand confidence and growth in other markets including France, Norway and Israel.
protect and strengthen
Today we live in a data-driven world, where we are now faced with scarcity of resources. This change has led us to think and work differently. BDO's commitment to investing in cutting-edge technology, digital transformation and new services has positioned us as a market leader in a world of opportunity. Our firms are now more connected than ever: we share resources to support our clients and are committed to growing businesses by working together.
Commenting on BDO's performance in 2022, newly appointed Global CEO Pat Kramer said: "In the change-driven world in which we operate, nothing is more important than protecting and strengthening BDO. We are relevant to our customers. We strive to always lead in quality and customer-focused solutions.As we reach new global growth milestones, we are more committed than ever to investing in our business and our people with a truly global mindset.BDO is on a solid foundation , which we will continue to build and transform. We welcome the change that is coming and we will continue to invest in quality, digitization, technology and talent, for the benefit of our clients and our people."
BDO's transformation journey
A changing environment leads to new opportunities. An increasingly global world requires global services in all lines of business and industries. To better support our clients, we will continue to build a strong and robust organization by focusing on a number of truly global strategies, essential to support our clients on their own transformation journeys. We will focus on Audit, Tax and Advisory, but just as important will be our focus on Risk and Quality, Technology, Sustainability, Talent and a number of international business areas.
A clear value proposition
BDO remains committed to our multidisciplinary model. This ensures that our clients receive the best possible solutions, supported by BDO professionals who continue to improve and deepen their understanding of our business and the markets in which we operate. Preserving sufficient size and scale of our organization will also ensure that we can continue to invest, allowing us to lead in quality and mitigating potential risks.
the power of purpose
As a purpose-driven organization, we do better. Our WHY – People Helping People – shapes who we work with and how we support our colleagues, our clients and our communities. This is reflected in everything we do.
Our immediate response when the war in Ukraine began is a testament to our WHY. With our people as our first priority, a global crisis response team was established in a matter of days, with volunteers working around the clock to get our Ukrainian colleagues to safety. In addition, a BDO Global Fund was created, with donations from both the BDO firms and our people. Along with many multinational organizations, BDO made the decision to cease operations in Russia and Belarus.
After those first critical weeks, BDO in Ukraine was able to start anew, streamline its activities and begin a new phase of business development, including a temporary relocation model to work with BDO firms in the region.
Pat Kramer concludes: "I am extremely proud of our organization and our people, whose continued commitment to their customers has made steady growth possible this year. We have a unique BDO culture, and our WHY is proving immensely powerful. Enabling our culture it is key to being the best we can be, for our people, our customers and our communities."