EY Australia announces $2.72 billion in revenue, down 2.9% from previous year

• $2.72b in total net revenue in FY25, down from $2.81b in FY24
• Continued weak economic conditions impacted client demand 
• FY26 focuses include strengthening existing businesses while investing in AI and technology
   

AUSTRALIA – 27 AUGUST 2025

Ernst & Young, Australia (“EY Australia” or “firm”) recorded $2.72 billion in revenue for the 12-months to 30 June 2025 (FY25), 2.9 per cent less than the prior year. 

EY Regional Managing Partner CEO Oceania, David Larocca, said that FY25 saw continued challenging local and global market conditions, resulting in lower demand for certain services, including transactions and consulting. Despite these conditions, the firm demonstrated resilience growing Tax and Assurances service lines revenues, with Tax delivering strong growth.   

“Government, financial services and corporate clients continued to reprioritise in response to changes in the economic, geopolitical and domestic environments, resulting in uncertainty and cost constraints,” Mr Larocca said.

“Despite a difficult market environment, our FY25 results show strong performances by our market-leading Tax and Assurance service lines, both continuing to grow, helping offset revenue declines in other parts of the business. From an industry perspective, we saw positive growth across consumer products and retail, advanced manufacturing, defence and real estate sectors in Australia.”

Revenue for the firm’s Tax service line increased by 4.7% to $636m, while its Assurance service line grew by 0.7% to $714m. EY Australia’s strategy and transaction business, which has been re-branded to EY-Parthenon, experienced slight revenue decline to $442m, with Consulting revenue reducing to $930m.   

Recognising the shifting demand for some services, the global EY organisation launched its All In strategy over 12 months ago. The strategy set out a bold ambition that will ensure the firm continues to lead through a rapidly evolving AI and technology-driven era and has included making intentional, future-focused investments in areas where we are uniquely positioned to lead - such as transformation, managed services and sustainability - all alongside an unwavering commitment to audit quality.

“Our focus has been on executing the global EY strategy. In anticipation of ongoing market disruption, we have spent much of the last year accelerating and investing in capabilities that respond to emerging client needs, including our transformation capabilities particularly around helping our clients shape and execute AI strategies. We have also seen an increased client demand for managed services and sustainability services, across multiple sectors, which we continue to invest in and expand, “ Mr Larocca said.

In March, the EY organisation extended the strength of its EY-Parthenon brand globally and introduced the offering by aligning EY Oceania’s Strategy and Transactions service line in Oceania. Locally, EY- Parthenon is focused on delivering an end-to-end offering that delivers integrated strategy, transaction services and transformation change by leveraging the whole of EY Australia.

The Firm also launched its EY Studio+ offering in June, which combines the EY organisation’s businesses focused on Customer and Growth, including Oceania acquisitions EY Sweeney, Future Friendly, Blackdot, and Adelphi, to assist clients transform customer experiences, drive product and service innovation, and improve efficiency.   

The Consulting service line continues to lean into transformation services through long-term alliances with SAP, Microsoft, Nvidia and ServiceNow alliances.

David Larocca said EY people remain a top priority for the firm, with continued investment in the firm’s talent agenda and culture.

In the second year of its Culture+ program, an evolution of the recommendations in the 2023 EB&Co report, the firm focused on driving a high-performance culture with inclusion; sustainable workloads and wellbeing at its core.

“We remain steadfast in our commitment to embed a diverse, respectful and inclusive culture in our everyday business. We are focused on enhancing leadership across the firm, driving mass adoption of AI tools to create more sustainable workloads and increasing learning and development to empower our people to shape their future with confidence”, Mr Larocca said.

He said the firm continued to invest and focus on artificial intelligence and technology integration, both to improve employee experience by increasing efficiency in workloads and to support evolving client needs.

“We’ve positioned ourselves as ‘Client Zero’ – which is not just about deploying AI but also redefining how we operate our own business. Being Client Zero means we test, refine and scale AI internally before bringing it to market.

“EY.ai, our enterprise-scale AI platform, is fully embedded across EY Australia and New Zealand with scaled adoption. As examples, almost 85% of our people are using Microsoft 365 Copilot to automate tasks and use agents from our AI Factories in their flow of work. 

“Globally, we’ve invested over $1 billion to modernise our assurance platform—strengthening audit quality and reinforcing confidence in capital markets. And we’re investing just as deeply in our people.

Our approach to building AI literacy through skills development has seen 6,200 EY accreditations and a further 9,000 currently underway across the firm.”

In the last fiscal year, EY Australia appointed 51 new partners, including 24 promotions to partner and 28 new partners hired. Of newly promoted partners, 42 per cent are women.

The firm also appointed 16 associate partners (including 10 promotions and 6 hires) and hired 595 graduates.

 EY Australia’s position as the most globally integrated and connected firm will continue to drive innovation and growth opportunities during FY26.  

"Our global connectivity combined with our uniquely collaborative culture will help us strengthen our existing businesses and make purposeful investments to diversify our revenue streams and support clients in an AI and technology driven market,” Mr Larocca said.

We will release the Value Realised Scorecard for the Oceania region containing transparency reporting in Q2.

-ENDS-

Notes to editors

Revenue breakdown
All figures are $AuBn unless specified otherwise.

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This news release has been issued by Ernst & Young Australia, a member firm of Ernst & Young Global Limited. Liability limited by a scheme approved under Professional Standards Legislation.

For more information, please contact:
Nicola McAlpine,
Director, Strategic Communications
Email: Nicola.mcalpine@ey.au.com 
Phone:0487 896 231