Hogan Lovells has released a summary of the firm’s financial results for FY 2022, announcing global revenue that was the second highest in the firm’s history.
The firm´s total global revenue has been US$2,432 million in 2022, after having achieved US$2,606 million in 2021 and US$2,308 million in 2020.
Profits per equity partner has been US$2,278,000 in 2022, with previous numbers of US$2,482,000 in 2021 and US$1,971,000 in 2020.
Revenue per lawyer was US$977,000 in 2022, compared to US$1,029,000 in 2021 and US$884,000 in 2020.
Across our regions, the Americas represented approximately 48% of total billings, EMEA 46%, and Asia-Pacific 6%. In terms of our three global practice groups, Corporate & Finance represented approximately 40% of total billings, Global Regulatory & Intellectual Property, Media and Technology (IPMT) 32%, and Disputes 28%.
The percentage difference in global revenue from FY 2021 to FY 2022 (-6.7% as measured in US$, +4% as measured in GBP) reflected a number of challenges the firm faced in 2022.
“Despite significant global economic headwinds, the firm has achieved strong financial results. Our global revenue figure of $2.4 billion is the second highest in the firm’s history, exceeding our revenue from 2020. While 2021 was a historically high year for the firm and our industry, looking at our revenue in 2022 in comparison with prior years demonstrates our continued growth and success,” said Hogan Lovells CEO Miguel Zaldivar. “Like many in the legal industry, our firm faced challenges in 2022 that had an impact on our global revenue. These challenges include the war in Ukraine, continuing impacts of COVID-19, unprecedented inflation levels and currency devaluation of the British Sterling and Euro, and a drop in legal services globally,” he added.