EY Ireland reports revenues on island of Ireland up 31% to a record €705 million
· EY revenues on the island of Ireland were €705 million for the Financial Year to 30 June 2023, an increase of 31% on the €536 million reported for the previous Financial Year
· EY Ireland’s five-year compound annual growth rate stands at 14.9%
· 2023 represented a third year of market-leading growth for EY Ireland
· 5,035 people employed by EY across the island of Ireland – up 19% in the year
Cork 27th October: EY has reported record levels of growth for its business on the island of Ireland, with revenues for the Financial Year up to the end of June 2023 (“FY23”) up 31% to €705 million (from €536 million in the prior Financial Year). EY Ireland’s compound annual growth rate (CAGR) over the past five years stands at 14.9% with FY23 representing a third year of market-leading growth. Globally, EY reported revenues of US$49.4 billion in FY23.
EY Ireland reported particularly strong performance in FY23 across its Assurance, Consulting and Tax & Law service lines. Despite a challenging global transaction market with a low level of transaction activity, EY’s Strategy and Transactions business also enjoyed a successful year.
All of the EY Ireland offices – in Dublin, Belfast, Cork, Galway, Limerick and Waterford – reported strong growth in FY23 across both financial services and non-financial services sectors. EY Ireland’s headcount across the island stands at 5,035 (up 19% over FY22), with 89 different nationalities. EY recently announced an additional 1,000 new roles in EY Northern Ireland, to be filled over the coming 5 years.
Commenting on the results, Frank O’Keeffe, Managing Partner, EY Ireland said:
“EY is incredibly proud to have once again delivered market-leading growth in our most recent financial year to 30 June 2023. This exceptional performance further underscores our position as the largest and fastest growing professional services firm on the island of Ireland.
This fantastic result for EY Ireland has been driven by strategic investments in our world-class teams and in our technology, all underpinned by a relentless focus on quality and delivering excellence for our clients who continue to turn to us in record numbers to help them solve their most complex challenges. Ongoing investment in our talented teams and in harnessing cutting-edge technology – including our unifying Artificial Intelligence platform EY.AI – allows us to work seamlessly with our clients to stimulate innovation, increase organisational agility and strengthen resilience.”
EY Cork Managing Partner, John Higgins said:
“EY Ireland’s regional offices have experienced strong growth over the past 12 months. This is a testament to our fantastic people working at all levels in our regional offices in Cork, Limerick, Galway and Waterford, and who are delivering exceptional service to our wide range of clients, from local businesses to our multinational clients.”
Frank O’Keeffe continued:
“In EY Ireland we continue to invest to stay ahead of our clients’ needs. In our most recent financial year, we launched or expanded new businesses including EY Law, EY Parthenon and EY Carbon and we acquired leading domestic enterprise technology firm Client Solutions. Most recently we have launched EY.AI, a platform bringing together human capabilities and artificial intelligence following a $1.5 billion global investment.
Since 2018 we have more than doubled our headcount in response to strong client demand across tax and law, audit, corporate finance and consulting. We continue to hire for key skills, including in AI, data analytics, tax, law, audit, strategy, modelling, change management and cloud computing to name but a few. Helping our clients to leverage the incredible opportunities presented by cutting edge technologies is something that we are especially passionate about in EY.”
Frank O’Keeffe added:
“We also recognise the important role that we play in supporting the development of Ireland’s future business leaders and hence we have a laser focus on ensuring that our people have access to world class training and mentoring throughout their career at EY. In the past 12 months alone, we have promoted or progressed 1,634 people across all areas of our business. We believe that diversity brings strength and I’m incredibly proud that we have 89 different nationalities in EY Ireland working alongside our brilliant clients every day.”
Over the past 12 months EY Ireland has remained firmly focused on creating long-term value for a wide range of stakeholders including our clients, people, suppliers and the communities we serve. Next week we will be publishing our 2023 Societal Impact Report setting out the work we do to live our purpose of Building a Better Working World. Next week we will also publish our FY23 Transparency Report.”
