Mark Weinberger, Globel Chairman & CEO, EY - Reveals Global Revenues for 2015 - Unravel Travel TV

EY announced on the 15th September 2015 combined global revenues of US$28.7b for its financial year ended 30 June 2015. This represents an 11.6% increase over financial year (FY) 2014 revenues in local currency, outpacing FY14 growth (which had increased by 6.8% over FY13). All of EY’s service lines continued to grow in FY15 ahead of their FY14 growth: Advisory grew 17.6% (vs. 14.4% growth in FY14); Assurance 8.1% (vs. 4.5% in FY14); Transaction Advisory Services (TAS) 15.5% (vs. 6.5% in FY14); and Tax 10.3% (vs. 4.3% in FY14).

Growth achieved across all geographies, key markets and sectors
Despite an uneven global recovery, and an economy with serious weaknesses and uncertainty hampering both developed and emerging markets, EY achieved its highest revenue growth since 2008. Strong performance in the developed markets was led by the US, which grew 12.5% to US$11.2b – its largest increase in 10 years. The US achieved balanced performance across all businesses, sectors and geographies. Elsewhere in developed markets, the UK achieved strong growth, led largely by new major accounts across its audit practice, as well as the strength of its TAS and Tax businesses. EY also saw double-digit growth in its Australian, German and Italian member firms. EY’s emerging market practices grew by 12.3% overall (compared with 8.7% last year), despite mixed economic conditions in key emerging market economies. India led the emerging markets with 19.7% growth; other strong regions included ASEAN (12.9%), Africa (11.3%), Mexico & Central America (17.3%) and Middle East & North Africa (14.7%). Revenue increased across all four of EY’s geographic areas: the Americas 12.3%; Europe, Middle East, India and Africa 11.6%; Asia-Pacific 11.2%; and Japan 4.6%.

A number of sectors realized double-digit growth. Life Sciences led the way, buoyed by strong M&A and IPO activity. EY’s global financial services sectors – Insurance, Banking & Capital Markets and Wealth & Asset Management – also delivered double-digit growth, led by strong demand for regulatory-driven transformation services and opportunities across digital delivery, data analytics and financial technology.

In FY15, EY headcount reached 212,000 globally – an all-time high. The organization invested US$535m in training and delivered 8.2m learning hours to give its people the skills needed to deliver in this fast-changing world. EY is proud to be voted in the top three in the Universum World’s Most Attractive Employer ranking for the third consecutive year.

FY15 also saw EY’s largest number of partner promotions since 2008, with 753 people promoted to partner, as well as 618 direct admit partners, highlighting the organization’s confidence in its future growth. This year’s new partner class was the most diverse ever, with 33% from emerging markets and 31% women.

EY recognizes that investor confidence forms the foundation of today’s global economy, and the high-quality audits it provides play a vital role in enabling that confidence. Additionally, businesses and industries around the world are being dramatically disrupted by innovation and other megatrends. As part of its Vision 2020 strategy, EY is investing in innovations in audit quality, digital, analytics and disruptive technology to support its clients’ needs. In July, EY formed a global innovation team – led by Silicon Valley executive Jeff Wong as Global Chief Innovation Officer – to create a new platform to bring innovation to clients.

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