Iberian firm Garrigues has become the first Continental European firm to break through the €350m (£307m) turnover barrier, holding its place as the largest independent firm in The Lawyer European 100.
Garrigues posted a 2.2 per cent rise in revenue last year to push total income to €357.1m, keeping it comfortably ahead of French firm Fidal. Fidal retains second place in the rankings with 2017 turnover of €341.8m, up 2.6 per cent from the previous year.
Top 20 law firms from the European 100, by revenue
|Rank||Firm||Total revenue 2017 (€m)|
|3||Loyens & Loeff||311.6|
|5||Cuatrecasas Gonçalves Pereira||247.8|
|8||Rödl & Partner*||218.0|
|11||Gide Loyrette Nouel||188.0|
|=12||De Brauw Blackstone Westbroek||169.0|
|16||Heuking Kühn Lüer Wojtek||149.5|
|=20||Gianni Origoni Grippo Cappelli & Partners||132.0|
Overall last year was a steady one for the 100 firms featured in the report, which is the only analysis of revenue across the whole Continental European legal market. Combined revenue rose 4 per cent from €9.4bn in 2016 to €9.77bn.
Although combined turnover for the European 100 has continued to rise, growth has slowed gradually each year since 2013. The group of firms have collectively added around €400m in turnover each year, but the percentage growth rate decreased from 5 per cent between 2013 and 2014.
Norweigan firm SANDS reported the highest annual growth last year, with turnover rising by 23.5 per cent in Norwegian krone and by 18.5 per cent in euros.
German and Norwegian firms generally had good years, while growth was more muted in jurisdictions such as France. French firm LPA-CGR reported the biggest turnover drop between 2016 and 2017, of 9 per cent.
The total number of people employed by the European 100 now exceeds 45,000.
The European 100 2018 is available for purchase. It includes 165 pages of exclusive data and analysis on Europe’s 100 largest independent firms, plus the top 50 international firms ranked by partner numbers. To purchase a full copy please contact Ben Oakshott on +44 20 7970 4275 or email email@example.com