“I congratulate our 175,000 great people around the world for providing exceptional, high quality service to our clients, contributing to our strong sense of purpose, and delivering an impressive set of results. Everything we have accomplished this year is due to them and I am extremely grateful for everything they have done,” Mark Weinberger, EY’s Global Chairman and CEO, said.
“To achieve a robust performance despite a difficult economic environment in the last 12 months demonstrates their talent and energy as well as their commitment to quality.
“Looking forward, there remain significant economic and geopolitical uncertainties in developed and fast-growth emerging markets. Despite these short term uncertainties, we continue to invest for the long term. In FY14 we are demonstrating our confidence in the future of the global economy and our profession by investing heavily in new markets and new services as well as planning to add 55,000 new recruits and interns over the next 12 months.”
“Across all of our service lines we continue to perform well in a highly competitive and challenging market place.” Growth in all of EY’s service lines was almost entirely organic,” John Ferraro, EY’s Global Chief Operating Officer, said.
“Assurance, our largest practice, delivered a positive year growing revenues by over 4% to US$10.9b. Despite the continuing challenging economic environment our audit revenues grew by 2.4%, strengthening our competitive market position. Our fraud and investigation services and financial accounting advisory services grew by 23% and 30% respectively, demonstrating our ability to respond well to the growing demand in the marketplace.
“EY’s global Tax revenues increased over 7% to US$6.9b, marking a third consecutive year of strong growth. These results reflect our commitment to providing exceptional client service and assisting our clients in a dynamic and more connected marketplace with tax compliance, tax advisory, and human capital services around the world.
“Advisory achieved its third year of double-digit growth in FY13, with revenue of US$5.8b and growth of 18%. This strong organic growth is against a backdrop of slower growth in the wider market for Advisory services. These results reflect our strategic focus on leveraging all our core consulting and technology competencies on delivering transformational Risk and Performance Improvement services in high-growth sectors.
“Our Transaction Advisory Services (TAS) service line grew by 3% to US$2.2b – the fourth consecutive year of growth at a time when global M&A activity continues to suffer sharp falls in virtually every market. TAS achieved this with an unrelenting focus on our clients’ capital agenda – how businesses raise, invest, optimize and preserve capital – which enabled EY to support 6 of the world’s top 10 deals globally this year.
“EY’s strongest performing industry sectors, all with double-digit growth, were: Automotive, Consumer Products, Financial Services, Government & Public Sector and Power & Utilities.
“We are delighted and honored to feature as the world’s most attractive professional services employer, and second among all employers across the world,” Mark, said. “At EY we are committed to attracting, developing and inspiring great people and developing future leaders; this is fundamental to our purpose of building a better working world.”