Annual results FY19
Deloitte Belgium closes the financial year 2019 with 11% revenue growth and more than 1,100 new recruits.
One in five of the graduates recruited by the professional services firm has a STEM profile
Brussels, Belgium - 10 September 2019
Professional services firm Deloitte Belgium generated revenues of €565 million in the financial year 2019 (1 June 2018 to 31 May 2019). This is an 11 percent increase and means a further strengthening of Deloitte’s position as a market leader. The Consulting and Tax & Legal services achieved double-digit growth.
In particular, Consulting showed consistent double-digit growth for the various industries where Deloitte is active, with distinct growth figures in the Public, Consumer, Energy, and Industrial sectors. Demand from the Life Sciences sector also remained constant.
Deloitte Belgium owes this growth partly to cross-border collaborations with other European countries within Deloitte North and South Europe (NSE). The Belgian family business market also remains an important source of growth for the organisation, with an increase of more than 10 percent across all business units within the firm. In this market segment, Deloitte is active under the brand name Deloitte Private.
All sectors and industries are going through a digital transformation that Deloitte is leading, both functionally (SAP and Salesforce) and strategically.
For Tax & Legal, the growth is due to the transformation strategy started three years ago, focused on investing in process optimisation, new technologies, and the skills of the future. Regulatory changes and their impact on Deloitte's customers also contributed to the positive growth of the tax and legal advisory business. The organisation has developed detailed business plans for all these Tax & Legal departments and hired three partners (EU tax management, regulatory and competition law advice).
In the Risk Advisory service, the cyber security department - which has more than 100 employees - is growing thanks to close collaboration with the centre of expertise (cyber intelligence centre) in Madrid. Expanding the business to support customers in strategic transformation, and incident management (cyber-attack risk management) also contributed to this growth.
Worldwide, Deloitte generated revenues of 46.2 billion dollar in the financial year 2019, which is a 9,4% increase. As a result, Deloitte is still the world's most significant player in the professional services sector.
One in five of the recruited graduated has a STEM profile
Currently, Deloitte Belgium employs just over 4,400 people. To support its continuous growth, the professional services firm hired 1,106 new recruits, almost 100 more than last year.
Accelerating digitisation, increasing regulations, and globalisation are the trends that are driving Deloitte Belgium's growth. Due to the growing importance of innovations and new technologies, the number of new so-called STEM profiles increased considerably. In 2019, one in five of the recruited school-leavers had engineering, informatics, mathematical, scientific, or technological profiles. Three years ago, this was only one in ten.
Of course, the right talent requires the right technical competencies, but having soft skills and shared values are also becoming more and more essential. After all, in a digital working environment, personal contact, collegiality, integrity, and openness make all the difference. “We are and continue to be a company of and for people. Human interpretation of the data continues to be essential in our functions. We choose our future colleagues not only on the basis of their backgrounds and competencies but also on the values they share with our organisation. Deloitte Belgium employs a variety of professionals and very different competency profiles. What we have in common is that our organisation’s values take precedence over our differences; they form our organisation’s DNA,” said Piet Vandendriessche, CEO Deloitte Belgium.
In addition to recruiting new talent, Deloitte is strongly committed to training its employees. On average, all employees receive 52 hours of formal training. What’s more, young recruits receive 150 hours of training, almost four working weeks. The organisation also offers all employees steep learning curves, with growth opportunities in all projects and various sectors. Moreover, the organisation provides growth opportunities in the international environment of Deloitte’s network. With its 11 local offices, Deloitte Belgium also has a strong local representation.
In the 2019 tax year, Deloitte promoted 950 employees and appointed nine new partners, namely Anne-Line Servaes (Accountancy), Ben Vandeweyer (Audit & Assurance), Charlotte Degadt (Tax & Legal), Frédéric Verheyen (Consulting), Koen Magnus (Risk Advisory), Sabri Mzah (Consulting), Jan Pattyn (Tax & Legal), Frederiek Van Tornout (Consulting), and Petra Verschueren (Tax & Legal).
The proportion of female partners increased to 13%
Deloitte Belgium’s target of 30 percent female partners by 2030 demonstrates its strong commitment to diversity. “The fact that the proportion of female partners has risen to 13 percent gives us a positive signal to continue working on our ambition to more than double women’s representation by 2030,” according to Piet Vandendriessche. “Having diverse teams in the broadest sense of the word, such as gender, ethnicity, sexual orientation, but also academic background and personality, will result in better performance and new ideas. Diversity enhances the decision-making process, attracts top talent, and makes the company more customer-focused.”
Deloitte's CEO stressed that in addition to a lack of leadership diversity, companies will be faced with the challenge of recruiting female STEM profiles from a limited pool. “The demand for STEM profiles is increasing, but statistics show that less than 30 percent of recent graduates are women. We want the government to get more girls to choose science subjects,” said Piet Vandendriessche.
Nearly half of the employees opted for a sustainable mobility solution
In June of last year, Deloitte launched a mobility plan to get its 4,400 employees to reduce their mileage by 10 percent. This will contribute to the target of 25 percent less CO2 emissions by 2021.
“As an organisation, we wanted to contribute to positive mobility for Belgium by developing various threshold-lowering solutions. We wanted to use a multimodal mobility plan that promotes combinations of public transport, carpooling, and electric cars to make our employees aware of the need to make informed choices, adapted to their individual needs. I am delighted that nearly half (49 percent) of our people have already taken up this challenge,” said Piet Vandendriessche.
Deloitte Belgium stresses that driving less will also reduce traffic jams. Deloitte's Global City Mobility Index has shown that, on average, Belgians lose more than one working week per year to traffic jams. Traffic congestion also leads to an estimated economic loss of between €4 and 8 billion annually.
Deloitte North and South Europe: second largest member company in the Deloitte network
In June of this year, Deloitte Belgium also expanded its cross-border collaboration. The Deloitte North West Europe (NWE) and Deloitte Central Mediterranean (DCM) branches joined forces to form Deloitte North and South Europe (NSE). “By creating Deloitte North and South Europe, we have reinforced our commitment in this area. In this way, we can provide better services to our customers, offer our people more opportunities, and have a deeper impact on society,” Piet Vandendriessche emphasised.
Deloitte NSE brings together more than 45,000 people in 13 countries (Belgium, the United Kingdom, the Netherlands, Switzerland, Sweden, Denmark, Norway, Finland, Iceland, Italy, Greece, and Malta).