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BDO announces financial results 2020

27 November 2020

Original content provided by BDO Luxembourg

  • 7.8%* increase in global revenues to US$ 10.3 billion, up from US$ 9.6 billion in 2019, reflecting the strong demand from clients for BDO’s expertise during the pandemic *at constant exchange rates
  • BDO’s Rethink framework is helping both BDO firms and their clients to be resilient during the crisis and to succeed in the new reality
  • People numbers have increased despite COVID-19: BDO’s 91,054 advisers of the future are combining future-oriented technology with authentic intelligence to create smarter working environments in 1,658 offices
  • In 2020, BDO’s stated purpose, or WHY, has never been more important. It drives our culture of people helping our people, our clients and our communities.

Keith Farlinger, BDO’s global CEO, comments: “2020 has been an exceptionally challenging year but, with the agility and creativity of our people, BDO has reacted swiftly to the new business environment. Our global organisation’s continued growth rate is down to our firms having taken bold decisions in order to help their people, their clients and their communities. Together, they have embodied our WHY – People helping people achieve their dreams – and as a result, our business has remained resilient and strong.”

Rethinking to lead in the new reality:

Rethink to succeed

BDO, in common with all businesses, has had to rethink our business model, allowing our firms to respond to the common challenges and to create new ways to interact with our clients and with each other. The ultimate goal is always to help our clients succeed.

Rethink our service proposition

Our clients expect a seamless service across borders, deep industry expertise and an unwavering focus on quality. These have remained a focus for BDO throughout 2020. In addition, we have continued to develop our range of services to provide new solutions to help our clients prosper in the new reality. These include cloud accounting, AI, machine learning, predictive analytics and diagnostic tools, taxation of the digital economy and drone technology.

Rethink innovation

The pandemic has accelerated digitisation. At the outset of the crisis, BDO demonstrated that we had the expertise and capability to immediately switch to new ways of working.

In the same way, BDO has consistently sought to improve our stakeholders’ digital experience and to enhance our data analytics capabilities.

Rethink the power of people

BDO remains a people-powered business, combining digital awareness with truly understanding clients. Our 90,000+ people have adapted quickly and continue to connect and collaborate to support our clients worldwide.

The power of purpose

As a purpose-driven organisation, we do better. Our WHY is our fundamental reason for being and it shapes who we work with and how we support our colleagues and our communities. It is also reflected in our consistent expansion in headcount, even in this difficult year.

Keith Farlinger concludes: “It is vital we keep our culture and our people at the forefront of our business - even more so during moments of uncertainty. As we continue to navigate the new reality, I am proud of how our BDO firms have responded to the many challenges posed by the global pandemic and how they have used the clearly defined structure of our bespoke BDO Rethink management philosophy to guide our people and our clients, helping them to succeed in the new reality”.