Grow revenueAchieving market-leading growth is a Vision 2020 ambition. Our growth strategy is guided by organic growth, selective acquisitions and, increasingly, alliances to extend and strengthen our service offering.
Our revenue grew by €17 million (2%) to €727 million during the year. This was below our target of 5%, chiefly due to weaker trading conditions. Financial services remain our biggest market segment in terms of revenue (€173 million), but as expected the impact of mandatory audit rotation is evident given our leading position in this segment. Technology & Telecommunications recorded double digit growth of 20%, followed by 11% growth in our Other market segment (e.g., Transport & Logistics +11%), while Consumer Products & Retail remained flat and the remaining market segments declined by between 1% and 7%. The charts and table below provide more detail, while a breakdown of revenue from an operations (i.e., service lines) perspective is given in the section Our financial contribution.
In FY 2015/2016, we accelerated the pace of innovation and investment across the business. Our focus on strengthening our existing activities, acquiring new skills and developing innovative services has enhanced and widened the palette of client solutions. We created the People Advisory Services (PAS) by integrating Advisory’s People & Organizational Change and Tax’s Human Capital at EMEIA level rather than at country level. PAS is designed to help our clients better manage the challenges of an increasingly borderless economy. We strengthened our governance advisory practice by allying with a specialized partner. We can now respond better to the growing demand for governance and related soft controls.
In August 2015 we acquired Integrc, a leading provider of governance, risk and compliance (GRC) services to companies that run SAP. The acquisition helps cement EY’s position as an industry leader in SAP GRC services by further enhancing its endto- end offering — from strategy to technology implementation. Integrc’s team of consultants specialize in the full lifecycle of GRC consultancy and support services, including SAP GRC operations, audit, strategy and planning, implementation, operational control and fully managed services.
In March 2016, we acquired i3, Intelligence in Information, a specialist in business intelligence, (big) data analytics, predictive analysis and managed services.
This acquisition, which included 43 people, including 1 partner, made EY one of the main players in this market in the Netherlands and gave us access to the fast-growing international business intelligence and data analytics market. We are now in a better position to meet the growing demand for advice and support from organizations that are or wish to be datadriven.
|Read the interview with Mohamed Bouker and Simon van Ulden.|
At the end of the fiscal year we reached an agreement regarding the acquisition of OC&C Strategy Consultants Benelux. The transaction was completed on September 1, 2016. The acquisition is a distinctive step for EY to further develop world-class strategy service capabilities and accelerate its ambition to advise clients from strategy to execution. EY will strengthen its strategy capabilities, with all 59 employees of OC&C Strategy Consultants Benelux, including 6 partners, joining EY’s Transaction Advisory Services to operate under the Parthenon-EY brand.