Garrigues posts €481.85 million in 2024, up 6.1% on last year

Garrigues’ revenue grew by €27.58 million (6.1%) in 2024, to record figure of €481.85 million. The firm posted growth for the eleventh consecutive year and further cemented its position as the leading law firm in the EU by revenue.

In Spain, revenue amounted to €419.19 million, an increase of €22.46 million (5.7%). International revenue grew 8.9% to €62.66 million, with the international business accounting for 13% of revenue in 2024. Had the integration with Mexican firm Sánchez Devanny (announced in July 2024 and formalized in recent weeks) been completed during the last year, this figure would have risen to around 18%.

Garrigues has 32 offices in 12 countries across 4 continents. The best-performing regions in 2024 were Latin America (where the firm is present in Colombia, Chile, Mexico and Peru) and Portugal, with offices in Lisbon and Porto.

The main practice areas saw revenue growth in the year. Corporate and M&A continues to be the largest contributor to revenues (31.2%), followed by Tax (30%), Dispute Resolution: Litigation and Arbitration (12.8%), Labor and Employment (11.9%) and Administrative and Constitutional Law (8%). The firm swept the board in terms of both value and number of deals in the 2024 M&A rankings in Spain, with 207 deals totaling €30,856 million (according to TTR data).

Innovation and digitalization

Garrigues has continued to invest heavily in its digital transformation, aware of the need to innovate to strengthen its leading position. The firm invested €17 million in 2024, up 14.1% on the previous year. In the last five years, investment in innovation and digitalization has been close to €70 million. Among other initiatives, the firm has made major efforts with its generative AI strategy, combining Garrigues GA_IA (the platform designed and developed in-house that uses the firm’s datasets and ensures security and confidentiality) with commercial models to enhance productivity (Microsoft Copilot) and third-party legal language models (Harvey).

This commitment to innovation led the firm to launch g-digital, Garrigues’ digital business division and a unique offering in the market that aims to help companies navigate their digital transformation with legaltech solutions that integrate legal knowledge, improve efficiency, enhance legal certainty and create new business opportunities in a regulated environment. g-digital consolidated itself in 2024 with new products designed and developed in collaboration with EADTrust, the firm’s subsidiary and qualified digital trust service provider authorized and supervised by the Spanish government. A good example are GoCertius' certified chats, which allow messages, files and actions (such as modifications or deletions) in Telegram chats to be certified with high evidentiary legal effectiveness.

2024 also marked the midpoint of Garrigues’ 2023-2025 Sustainability Plan, which strategically integrates ESG into all areas of the firm’s activity and is structured around 12 lines of action.

“2024 was a good year for Garrigues. The trust of our clients and the excellent work of our team have enabled us to post record revenues. We have maintained solid and profitable growth, strengthened our teams and invested in areas we consider strategic for the future, such as the digital environment. The incorporation of Mexican firm Sánchez Devanny further consolidates our international expansion and makes us a benchmark firm in the countries where we are present and, in particular, in Latin America,” stated Fernando Vives, the firm’s executive chairman.