EY announced combined global revenues of U.S. $28.7 billion for its financial year ended June 30, 2015, an 11.6 percent increase over financial year 2014—its highest revenue growth since 2008.
All of EY’s service lines continued to grow in FY15 ahead of their FY14 growth—with Advisory leading the way 17.6 percent (vs. 14.4 percent growth in FY14); Assurance 8.1 percent (vs. 4.5 percent in FY14); Transaction Advisory Services 15.5 percent (vs. 6.5 percent in FY14); and Tax 10.3 percent (vs. 4.3 percent in FY14).
“This year we realized strong gains across both developed and emerging markets, despite volatile conditions in many individual markets and a slowing global economy. We are proud of this year’s results, which saw fast-paced growth across all of our businesses and in each geographic area,” says Mark Weinberger, EY’s Global Chairman and CEO. “Under our Vision 2020 strategy, we have been very explicit about our purpose of building a better working world and this has given us great momentum both inside and outside the organization. It has helped us attract, retain and motivate our people.”
Strong performance in the developed markets was led by the U.S., which grew 12.5 percent to U.S. $11.2 billion—its largest increase in 10 years. 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, Weinberger says.
In fiscal year 2015, EY headcount reached 212,000 globally—an all-time high. The organization invested some $535 million in training and delivered 8.2 million learning hours, says Nancy Altobello, EY’s Global Vice Chair, Talent.
“Our growth is a result of our people and their ability to deliver exceptional, high-quality service around the world,” she says. “Our purpose—building a better working world—has helped us attract, retain and engage the most talented people around the globe—people who share our belief that by asking better questions we can get to better answers and build a better working world.”
The year also saw EY’s largest number of partner promotions since 2008, with 753 people promoted to partner, as well as 618 direct admit partners.