The messenger logo

BDO Georgia published 2018 results

By Levan Abramishvili
Wednesday, May 8
On May 7, BDO (Binder Dijker Otte), an international network of public accounting, tax, consulting and business advisory firms which perform professional services, announced a total combined fee income of US$ 8.99 billion / ˆ 7.56 billion for the year ended on September 30, 2018, representing a year on year growth of 10.7% in US$ and 8.3% at constant exchange rates.

“The global organization’s continued and accelerating growth rate is borne of a clear strategic aim to be leaders in their markets, supported by relevant business-critical acquisitions, such as cybersecurity companies. Now represented in 162 countries and territories, BDO saw consistent growth across all regions in 2018, with the strongest revenue increase in EMEA (+17%), followed by the Americas (+7.8%) and Asia Pacific (+6.6%)” reads the BDO website.

BDO has been in the Georgian market since 1999 and since then, they became one of the largest accountancy firms in Georgia.

BDO Georgia’s service lines are: Audit & Assurance, Tax, Outsourcing, Business Advisory, Legal, BDO Solutions and BDO Academy.

BDO Georgia wrapped the year 2018 with improved results – GEL 15.9 mln. income and 29% growth compared to 2017. Currently 238 people are employed in the Georgian branch of the global company.

The breakdown of the income by the services: audit and related services – 29%; tax services – 12%; outsourcing – 18%; corporate finances – 9%; technological decisions – 24%; juridical services – 6% and business trainings – 2%.

2018 was significant for the Georgian branch for the company in terms of digital transformation project. A few important initiatives were carried out that will move to their active phase in 2019. The projects envisage important investments in using technologies in servicing, which will create another layer of values for the customers of the company.

According to BDO, their main asset is the team of 238 people. In 2018, 53 new team members were added to the company and 91 of the employees were promoted.

2018 was significant for the company in terms of corporate social responsibility as well – in the name of the staff, company friends and partners, numerous important projects were implemented. One of the main priorities of BDO is the healthcare, access to education and overall better living conditions for the vulnerable parts of the society. Such social and charitable projects have been an integral part of BDO for years.