Garrigues’ revenues for 2017 exceed 350 million Euros, with strong growth in Latin America
The firm's billings grew by 2.2% over the year, and by 30% in Latin America
Garrigues’ billings have gone above the 350 million Euros mark, spurred primarily by the firm's international expansion and an increased level of activity in the various geographical areas in which it operates. To be precise, its revenues for 2017 amounted to 357 million Euros, up 2.2% on the previous year. Garrigues is the top-billing law firm in Spain and in continental Europe.
Garrigues’ progressive internationalization is bearing fruit: present in 13 countries, 12.6% of the firm’s billings last year came from outside Spain. Latin America was the region with the highest growth over this period, up 30% (local currency), with billings totaling 23.47 million Euros. Garrigues is firmly committed to organic growth, through the opening of its own offices. In this way, it can ensure that all its professionals adhere in their work to the same standards in terms of integrity, ethics, quality, response times, training, innovation, etc., so that the client can expect the same level of excellence in its services regardless of location.
There has been sustained growth in all the firm's practice areas in 2017, led by the Corporate and Commercial law area - that which carries the greatest weight in the firm, accounting for 32% of total revenues - whose billings increased by 7.4% over the year. According to data available on the TTR platform, Garrigues closed 122 M&A transactions, 33 more than in 2016, and more than any other law firm in Spain. Attention is also drawn to the Intellectual Property and Tax practice areas.
2017 was also an important year in terms of innovation, which is one of the most important strategic challenges facing the sector. Garrigues invested 3% of its revenues for the year (and has invested a total of 50 million Euros over the past five years) in tools to intensify internal collaboration, which are giving rise to new ways of working and, in short, enhancing the client experience. One major event last year was the launch of the Garrigues Innovation Think Tank for the collective channeling of the innovation efforts which the firm's professionals had hitherto made individually, thus facilitating the exchange of innovative ideas for the benefit of the client and favoring new ways of thinking and working. Another was the launch of [email protected], an advanced robotic tool in the Spanish language which allows scanned legal texts, videos and audio to be transcribed and indexed quickly and easily, with minimal errors. Garrigues is indeed the first law firm in the world to have a robot of these characteristics in Spanish.