Accenture books $43.2 billion in global revenues with 8.5% growth

30 September 2019 Consultancy-me.com

Professional services giant Accenture has achieved $43.2 billion in revenues for its 2019 fiscal year, with its growth markets rising by 14 percent.

The Middle East, together with Africa, the Asia Pacific and Latin America comprising Accenture’s ‘growth markets’ division, has strongly contributed to Accenture’s record global revenues of $43.2 billion for fiscal 2019, with a collective rise of 14 percent to $8.55 billion. Globally, the professional services firm grew its revenues by 8.5 percent in local currency terms, to record a $3.6 billion increase on its $39.6 billion take over the previous year.

Having only taken over the top role at the start of this month, Accenture CEO Julie Sweet stated; “I am proud that we have delivered another year of outstanding financial results, meeting or exceeding all the objectives in our initial business outlook for fiscal 2019. For the year, our record new bookings of $45.5 billion and revenue growth of 8.5 percent in local currency demonstrate excellent demand for our services, and we gained significant market share.”

The impressive 14 percent rise in the firm’s ‘Growth Markets’ division followed similar gains during the previous financial year, yet the broad geography still only delivers a fraction of $20 billion brought in by Accenture’s North American business, which has again expanded by near double-digit figures of 9 percent. Its European division, meanwhile, was comparatively flat, contributing $14.68 billion to overall revenues at 5 percent growth in local currency terms.

Accenture books $43.2 billion in global revenues with 8.5% growth

Broadly, the firm’s 2019 revenues were split ~$24 billion to $19 billion between consulting and outsourcing, but, as a closer breakdown by service category, ‘technology services’ contributed $20 billion of the total, ‘strategy and consulting’ $14 billion, and ‘operations’ $6 billion. In technology terms, security-related services, cloud and digital together rose by around 20 percent to account for approximately 65 percent of total revenues, digital bringing $21 billion alone.

By industry, Accenture’s ‘products’ operating group continues to generate the most revenue, up by 9 percent in 2019 to $12 billion, while its ‘resources’ practice experienced a significant jump of 18 percent to $6.77 billion. Notably, at $8.76 billion in revenues compared to $8.49 billion, the firm’s Communications, Media & Technology practice has now slightly overtaken its Financial Services division, achieving growth of 9 percent against just 3 percent for the latter.

Sweet also highlighted the firm’s strong profitability in 2019 – its income rising from $4.21 billion to $4.85 billion year-on-year – as well as the firm’s ongoing business investments and unprecedented acquisition spree, although Accenture’s Middle East regional managing director Alexis Lecanuet recently stated in an interview with Consultancy-me that locally the firm was focusing  on organic growth, as it sees “significant potential in the current market.”

On a touching note, Sweet in a fourth quarter earnings call paid tribute to former long-term CEO Pierre Nanterme, who died following a long illness at the beginning of the year, describing the firm’s delivery on its commitments as the ultimate way to honor Nanterme’s ‘incredible contribution’ to the firm. “I know that Pierre would have been very proud of the accomplishments this year of our nearly 500,000 people, including more than 7,000 outstanding managing directors.”


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