Press Release
We rode the wind last year
09 Feb 2023
2022 was very successful for both Grant Thornton Baltic and Grant Thornton International. Grant Thornton International achieved turnover growth of nearly 14% in the 2021/2022 financial year that ended on 30 September 2022, while Grant Thornton Baltic’s turnover grew by 22%.
Grant Thornton International is represented in more than 145 countries by over 130 member companies whose total turnover amounted to USD 7.2 bn. A turnover growth of more than ten percent was achieved in all the main service lines and regions – the largest one being in the Americas (16.2%). Headcount grew from 62,000 to 68,000. Peter Bodin, the CEO of Grant Thornton International, said that these results highlight the value of our continued focus on our network strategy and its ability to deliver sustainable growth for the network, despite another challenging year in many markets.
Bodin added that over the past year Grant Thornton International’s firms continued to focus on helping clients realise their international ambitions, as businesses continue to look abroad for growth opportunities. “This provides great opportunities for our people to further develop their skills and expertise – making Grant Thornton an attractive place to work,” Peter Bodin emphasised.
Pictured: global turnover of Grant Thornton network in 2022.
A great year in the Baltic region
The turnover of Grant Thornton Baltic, which operates in Estonia, Latvia and Lithuania, grew by 22% in the financial year that ended on 30 June 2022. The turnover grew the most in Estonia (24%), followed by Latvia (22%) and Lithuania (19%). Growth was also very even across services: the volume of auditing services grew by 20% in the three countries, while accounting and consultation grew by 23%.
Mati Nõmmiste, Managing Partner of Grant Thornton Baltic, said that the company managed to stay on a growth path despite the complicated external environment presented by Covid-19 and the Ukrainian War, which significantly affected the 2021/2022 financial year. “This is largely due to our clients and employees. In client service, we have always relied on the principle of thoroughly learning to know the client’s business, because this is the only way we can offer solutions that are truly beneficial. The fact that our approach works is evidenced by the large number of our long-term clients and the recommendation index – nine out of ten clients recommend us to others,” Nõmmiste pointed out.
Mati Nõmmiste also emphasised the importance of the contribution of dedicated and expert employees. “I believe that a business can sustainably grow only when it is able to retain its employees and promote an organisational culture that takes everyone into consideration. Our aim is for people to feel good working for us and to have opportunities to develop both as specialists and individuals,” Mati Nõmmiste said.
Nõmmiste expects the growth to continue in 2023, regardless of the cold winds blowing in the economy: “We are careful, but optimistic!”
Mati Nõmmiste also emphasised the importance of the contribution of dedicated and expert employees. “I believe that a business can sustainably grow only when it is able to retain its employees and promote an organisational culture that takes everyone into consideration. Our aim is for people to feel good working for us and to have opportunities to develop both as specialists and individuals,” Mati Nõmmiste said.