PwC announces global revenues of US$45 billion

The organisation will be driving its new strategy “The New Equation” with more than US$12billion in investments and the creation of 100,000 net new jobs over the next 5 years

For the 12 months ending 30 June 2021, PwC firms globally had gross revenues of US$45 billion – up 2% in local currency and 4.9% in US dollars.

Investing in the future

Despite the heightened economic challenges of the past year, PwC has continued to prioritise ongoing investments in the future of our people, new technologies, the quality of our work, and new products and services. Across the PwC network, we invested over US$2.6billion during FY21 following on from investments of more than US$3billion in FY20. Over the next five years we are committed to invest US$12billion as we implement our strategy - The New Equation.

Focus on quality

Quality is a key focus for us and the responsibility of everyone at PwC. The New Equation strategy committed US$3bn to support quality across PwC including US$1bn towards major technology efforts related to audit.

Enabling our workforce

Our more than 295,000 professionals in 156 countries around the world drive our business. Despite the challenges of the global pandemic, we welcomed 90,273 new joiners in FY21. Our strategy calls for hiring 100,000 (net) additional professionals by 2026.

Having and measuring a meaningful impact

We have made a worldwide, science-based commitment to achieve net zero greenhouse gas (GHG) emissions by 2030 and we are proud to have received validation for our emission reductions targets from The Science Based Targets initiative (SBTi). In FY21 our total GHG emissions reduced by 80% over the prior year and we bought 83% of our electricity from renewable sources.

We are also committed to action that improves inclusivity, and addresses the need for everyone to have the opportunity to achieve their potential. Our New world. New skills. Programme seeks to enable more people to have the skills they will need to navigate the digital world and succeed in the future. In the past year alone, the initiative reached nearly 3 million people in communities around the world. In 2018 we set an ambition to reach 15 million people, non-governmental organisations and social & micro enterprises by FY22 and we're proud to report that in FY21 we exceeded this target and have reached over 18 million beneficiaries through our community investment programmes.

PwC Cyprus

At a local level, PwC Cyprus recently announced that the organisation’s net revenue for the financial year that ended June 2021, stood at €80m, while its contribution to government revenue amounted to €29.7m. PwC Cyprus expects that within the next 3 years it will recruit around 600 young graduates and experienced professionals.