The top 50 law firms in Spain ranked by revenue 2023
by ilaria iaquinta
Dynamic and competitive, the Spanish legal landscape of 2023 has been defined by significant growth. Among the top fifty leading law firms, a widespread increase was observed, reflecting the market’s strength, the adaptability of these firms, and the sustained demand for high-quality legal services. According to data from Iberian Lawyer and the research team of LC Publishing, based on public information and estimations, revenues increased by 8.37% compared to the previous year, reaching a total sector market cap of 3.18 billion euros.
This growth is attributed to various factors, such as the increasing complexity of legal matters and the adoption of innovative technologies to enhance efficiency and service quality. Noteworthy is the exceptional performance of certain law firms, which have achieved remarkable revenue growth over the past six years, according to data published by Iberian Lawyer in 2018 (here is the link to the magazine containing the dedicated article).
The Podium
Garrigues maintains its undisputed leadership position, with revenues hovering around 400 million euros following a 2.72% increase. Additionally, on an international scale, which represents 13% of the firm’s total revenue, the company has reached an historic milestone in the European legal landscape by surpassing 450 million euros in revenue, precisely 454.27 million euros, marking a 2.51% growth compared to the previous year. This has resulted in ten consecutive years of uninterrupted growth. Garrigues’ growth has been evident in all practice areas, with Corporate, Mergers, and Acquisitions accounting for the largest share of the business at 32%, closely followed by the Tax area (30.3%).
In second place, Cuatrecasas consolidates its position with revenues of 309.7 million euros in Spain, a 6% increase compared to the previous year. In total, the firm closed the 2023 fiscal year with consolidated total revenues of 388.7 million euros, representing a 10.2% increase compared to 2022. Over the last decade (2014-2023), the firm has experienced an accumulated revenue increase of 52.2%, equating to 133.3 million euros more than ten years ago. Uría Menéndez completes the podium with revenues in Spain alone of 230.10 million euros, a 5% increase over the previous year and a solid growth of 27% over the last six years. The firm also stands out for its international results, recording a total revenue of 290.74 million euros, compared to 278.24 million euros in 2022.
With a total revenue of 936.5 million euros, the top three leading law firms by revenue hold a 29% share of the Spanish market.
