Accenture delivers strong annual results

(via Accenture)

Accenture reported strong full-year 2022 results, with revenue up year-over-year and deal sizes up over the 12-month period. CEO Julia Sweet acknowledged that the macroeconomic climate is uncertain, but stressed that Accenture respects corporate priorities for its clients.

The key figures for the full year are:

  • Revenue for full fiscal year 2022 was $61.6 billion, compared to $50.5 billion for fiscal year 2021, an increase of 22% in US dollars and 26% in currency local. FY 2022 revenues reflect a negative currency effect of around 4% compared to FY 2021.

  • New bookings for the full fiscal year were $71.7 billion, an increase of 21% in US dollars and 25% in local currency compared to fiscal year 2021.

  • Accenture’s business outlook for the full fiscal year 2023 assumes that the currency impact on its U.S. dollar results will be approximately 6% negative compared to fiscal year 2022. For fiscal year 2023, the company will expects revenue growth to be around 8%. 11% in local currency.

CEO Sweet added color to the numbers, pointing to Accenture’s increase in the size of key accounts, its focus on acquisitions and R&D, and how it invests in the workforce. She says:

In FY22, we achieved record bookings of $72 billion. As our customers continue to execute compressed transformations, we had 100 customers with quarterly bookings over $100 million, up from $72 million last year. We generated $62 billion in revenue, representing record growth of 26% in local currency, adding $11 billion in revenue for the year.

We continue to take significant market share by increasing the market more than twice. Our financial results reflect our commitment to creating value for our customers every day, which is why they look to us as a trusted partner across the business.

We achieved this profitable growth while continuing to make significant investments in our business and people with $3.4 billion deployed through 38 acquisitions that were well balanced across markets, services and strategic priorities; $1.1 billion invested in R&D assets, platforms and industry solutions, including growing our portfolio of patents and patents pending to over 8,300; and $1.1 billion invested in training and developing our people to develop the skills needed to serve our customers.

We continue to deliver an employee value proposition that includes dynamic career paths and opportunities for our employees with approximately 157,000 promotions and more than 40 million hours of training while growing our workforce by nearly 100,000 and reaching 47% women as we continue our progress towards gender parity in 2025.

An uncertain environment

Sweet hasn’t shied away from market concern over the macro environment – including inflation, supply chain issues, impending recessions and supply and retention pressures. talents. However, she said that despite this backdrop, Accenture still generated $18.4 billion in new bookings in the fourth quarter, a year-over-year increase in local currency of 31%.

Sweet added that Accenture is in a good position to thrive, given its position and the trends seen among client companies. In particular, buyers are focused on technology sourcing and fast return-to-value results. She says;

While industries and markets are affected differently, there are two common themes: all strategies lead to technology, especially cloud, data, AI and security, which are fundamental to its strong digital core. Our cloud business is now $26 billion and has grown 48%, with Cloud First being the primary driver of growth.

Companies are also looking to run compressed transformations, the second theme. This means bold programs on accelerated timelines often covering multiple parts of the business at the same time. Managed services have become increasingly strategic as companies seek to move faster and leverage our digital platform and talent, and they turn to Accenture because of our excellence across the enterprise. We are unmatched in breadth and depth of capabilities and industry coverage.

We continue to see a growing number of companies embrace the need to harness the five key forces for change we have identified for the next decade. Total business reinvention, talent, sustainability, the Metaverse continuum and the ongoing technology revolution, which in turn will fuel our growth.

my catch

The outlook may be uncertain, but Accenture had a very strong year and seems confident about the future.