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2020 Letter to Shareholders

The Power of Change

From our CEO

"We delivered on our commitments to our clients, our people, our shareholders, our partners and our communities."

— JULIE SWEET, Chief Executive Officer

Our financial report

We delivered strong performance in fiscal 2020, reflecting continued growth ahead of the market, strong profitability and record free cash flow, driving superior shareholder value.

 

Twelve months ended August 31, 2020

Revenues
$44.3B

An increase of 4% in local currency and 3% in U.S. dollars from fiscal 2019

New Bookings
$49.6B

Record bookings, an increase of 10% in local currency and 9% in U.S. dollars

Diluted Earnings Per Share
$7.89

An increase of 7% from fiscal 2019, including $0.43 of gains on an investment; excluding these gains, adjusted EPS of $7.46 increased 1% from fiscal 2019

Operating Margin
14.7%

An expansion of 10 basis points from fiscal 2019

Free Cash Flow
$7.6B

Defined as operating cash flow of $8.2 billion net of property and equipment additions of $599 million

Cash Returned to Shareholders
$5.0B

Defined as cash dividends of $2.04 billion plus share repurchases of $2.92 billion

Comparison of cumulative total return

August 31, 2015—August 31, 2020
Accenture vs. S&P 500 Stock Index and S&P 500 Information Technology Sector Index

 

The performance graph to the right shows the cumulative total shareholder return on our Class A shares for the period starting on August 31, 2015, and ending on August 31, 2020, which was the end of fiscal 2020. This is compared with the cumulative total returns over the same period of the S&P 500 Stock Index and the S&P 500 Information Technology Sector Index. The graph assumes that, on August 31, 2015, $100 was invested in our Class A shares and $100 was invested in each of the other two indices, with dividends reinvested on the ex-dividend date without payment of any commissions. The performance shown in the graph represents past performance and should not be considered an indication of future performance.

Index prices as of August 31

Awards and recognition

FORTUNE’s World’s Most Admired Companies

No. 1 in our industry for 7 years, marking 18 consecutive years on list

Interbrand's Best Global Brands

No. 31, marking 19 consecutive years

Barron’s Most Sustainable International Companies

Among Top 2 for 2 consecutive years

Ethisphere’s World’s Most Ethical Companies

13 consecutive years

Forbes’ Global 2000

No. 205, marking 17 consecutive years

Dow Jones Sustainability Index North America and FTSE4Good Global Index

Since 2005

Fast Company’s Most Innovative Companies

2 consecutive years

FORTUNE’s Global 500

No. 279, marking 19 consecutive years

CDP’s Climate Change "A List"

5 years

Refinitiv Diversity & Inclusion Index

Among Top 3 for 3 consecutive years

Great Place to Work/FORTUNE’s 100 Best Companies to Work For

In Japan, Mexico, U.K. and U.S.

Apertura Mejores Empleadores in Argentina

7 consecutive years

Human Rights Campaign’s Corporate Equality Index

In Chile, Mexico and U.S.

Stonewall Global Workplace Equality Index

6 consecutive years

Randstad’s Most Attractive Employers in Greater China

3 consecutive years

Business Today/People Strong’s Best Companies to Work For in India

Among Top 5 for 7 consecutive years

Disability Equality Index

4 consecutive years

South African Workplace Equality

Achieved Gold status

Additional information

Stock listing

Accenture plc Class A ordinary shares are traded on the New York Stock Exchange under the symbol ACN.

Available information

Our website address is accenture.com. We use our website as a channel of distribution for company information. We make available free of charge on the Investor Relations section of our website (investor.accenture.com) our Annual Report on Form 10-K, Quarterly Reports on Form
10-Q, Current Reports on Form 8-K and all amendments to those reports as soon as reasonably practicable after such material is electronically filed with or furnished to the Securities and Exchange Commission (the “SEC”) pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (the “Exchange Act”). We also make available through our website other reports filed with or furnished to the SEC under the Exchange Act, including our proxy statements and reports filed by officers and directors under Section 16(a) of the Exchange Act, as well as our Code of Business Ethics. Financial and other material information regarding Accenture is routinely posted on and accessible at investor.accenture.com. We do not intend for information contained in this letter or on our website to be part of the Annual Report on Form 10-K. This letter and our Annual Report on Form 10-K for the fiscal year ended August 31, 2020, together constitute Accenture’s annual report to security holders for purposes of Rule 14a-3(b) of the Exchange Act.

Trademark references

Rights to trademarks referenced herein, other than Accenture trademarks, belong to their respective owners. We disclaim proprietary interest in the marks and names of others.

Forward-looking statements and certain factors that may affect our business

We have included in this letter “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act relating to our operations, results of operations and other matters that are based on our current expectations, estimates, assumptions and projections. Words such as “will,” “plan,” “believe” and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict.

 

Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. Risks, uncertainties and other factors that might cause such differences, some of which could be material, include, but are not limited to, the factors discussed in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q (available through the Investor Relations section of our website at investor.accenture.com) under the sections entitled “Risk Factors.” Our forward-looking statements speak only as of the date of this letter or as of the date they are made, and we undertake no obligation to update them.

Reconciliation of non-GAAP measures

This letter contains certain non-GAAP (Generally Accepted Accounting Principles) measures that our management believes provide our shareholders with additional insights into Accenture’s results of operations. The non-GAAP measures in this letter are supplemental in nature. They should not be considered in isolation or as alternatives to net income as indicators of company performance, to cash flows from operating activities as measures of liquidity, or to other financial information prepared in accordance with GAAP. Reconciliations of this non-GAAP financial information to Accenture’s financial statements as prepared under GAAP are included in this report.

 

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All amounts throughout this letter are stated in U.S. dollars, except where noted.

 

 

Download materials

2020 LETTER TO SHAREHOLDERS
10-K FOR FISCAL YEAR 2020
CEO LETTER AND 10-K FOR FISCAL YEAR 2020