Deloitte Switzerland announces record revenues of CHF 475m
Zurich, 28 August 2018
- Continuation of the exceptional growth path of the last decade with 8.2%1 growth in FY18
- Strong performance of the firm’s Advisory business fuelled by high demand for business transformation, technology, human capital, cyber, end-to-end M&A, and mobility services
- Further strengthened the position of the firm’s Audit & Assurance and Tax & Legal businesses
- Launched the Deloitte Garage and leveraged global alliances with Facebook, Apple and SAP for Swiss clients, embedding innovation at the heart of the firm
- Invested over CHF 5 million in learning and development programmes, and advanced initiatives for increased diversity and well-being for Deloitte’s people and the Swiss society
In the fiscal year ending 31 May 2018, Deloitte Switzerland increased its net revenue2 by 8.2%, from CHF 439 million3 to CHF 475 million, marking the continuation of Deloitte’s exceptional growth path over the last decade. The firm’s Audit & Assurance, Consulting, Financial Advisory, Risk Advisory and Tax & Legal business areas all contributed to the strong performance. Among the industries driving Deloitte’s growth in FY18 were consumer & industrial products, life sciences and financial services.
Simon Owen, CEO of Deloitte Switzerland, said, “Our multi-disciplinary business model continues to be a source of competitive strength. In FY18, Deloitte acted for 90% of the companies in the SMI Index as well as numerous private and public sector organisations. Organisations are increasingly choosing Deloitte to help them navigate change and reinvent themselves in a business landscape marked by digital disruption, regulatory complexity and global market volatility. Our clients are operating in a more digitally and globally connected way than ever before, and are turning to Deloitte for both strategic advice and pragmatic solutions to tackle their toughest challenges.”
Deloitte’s market-leading Advisory business continued on its growth path, driven by high demand from clients to accelerate business transformation programmes as well as to deliver end-to-end M&A services, cyber and regulatory advice, and innovative technology-enabled solutions. Deloitte’s more traditional businesses have also further strengthened their position: Growth in Tax & Legal was driven by client needs related to the global tax reset and global mobility challenges. Audit & Assurance also recorded another year of impressive growth, all whilst further transforming the core of the business to deliver intelligent and more insightful audits.
Transforming our business – and helping our clients transform theirs
In FY18, Deloitte Switzerland made significant strategic investments in integrating transformational technologies and data analytics into its solutions to drive greater value for clients. Deloitte further grew its business, people, and the impact the firm has on its clients and society through:
- Capitalising on Deloitte’s global alliances with leading digital innovators including Apple, Amazon Web Services, Facebook, McLaren, HP and SAP to help Swiss clients address their toughest business transformation and technology challenges.
- With Deloitte Garage, creating a platform for clients to experience new business models and solutions – from testing blockchain applications to helping leaders transition into new roles – as well as for own learning in the newly built incubator and insights spaces for Deloitte practitioners.
- Working closely with the Deloitte global network and local regulators to match the audit of the future to the evolving needs and complexity of stakeholders and society; whilst also continuing to invest in training and technology to help our audit professionals deliver high quality audits.
- Bringing Switzerland’s Board, CFO and CIO communities even closer together, providing platforms to exchange ideas and experiences on organisations’ most pressing challenges, from accelerating technology-enabled business transformation and building tomorrow’s workforce and workplace, to responding to the fast-paced changes in global mobility and the global tax, risk and regulatory landscapes.
- Leveraging Deloitte’s global network of offices and technology delivery centres to better serve clients’ increasingly global and digitally-connected structures.
Investing in our people
Deloitte has increased its talent pool in Switzerland to 1,910 people, including welcoming more than 300 graduates and interns in FY18. Women represent nearly 30% of the Executive team and 37% of the workforce, and the firm’s people represent 58 different nationalities (as per 31 May 2018).
Reaching greater diversity continues to be a top priority. In 2017, Deloitte committed to increase its senior female leadership by 10 percentage points (pp) to 30% by 2020. One year later, the firm has already seen an increase of 4pp as a result of targeted initiatives such as a tailored learning and development curriculum for female talent, coaching in inclusiveness and mindfulness, and de-biasing its talent processes. Deloitte has also committed to increase the number of women in technology roles by 5pp by the end of FY19. One initiative supporting this goal is Deloitte’s Women in Tech bootcamps: Deloitte tech professionals host two-week-long workshops for young female talent and career-changers, teaching them about new technologies such as augmented reality and working with them to apply coding and data analytics to real-life projects.
Creating a culture of constant growth and opportunity also remains a strategic priority. Deloitte invested more than CHF 5 million in learning and development last year, and advanced a number of initiatives designed to support the career development and personal well-being of its professionals. The firm recently launched a mental health initiative including an employee assistance hotline and coaching sessions. Another highlight of the empowered well-being programme: The Swiss Company Triathlon, which a Deloitte committee helped to organise. Over 180 Deloitte people participated, and secured the trophy as the ‘fittest company in Switzerland’.
Various Deloitte initiatives were recognised as being truly impactful: The Canton of Zurich awarded the Prix Balance ZH to Deloitte for its working parents and agile working policies, and Universum named Deloitte one of Switzerland’s Most Attractive Employers, amongst others.
A WorldClass solution for social impact
Committed to empowering people to succeed in a rapidly changing global economy, in 2017, Deloitte launched WorldClass: Through an investment in education, skills development and access to opportunity, Deloitte’s global network aspires to reach 50 million futures by 2030, in-line with the UN Sustainable Development Goals. In Switzerland, one key project is helping to provide education to children in Kimilili, Kenya. Last year, Deloitte people volunteered 2300 hours and raised CHF 200'000 for the school, positively influencing 1100 futures.
Simon Owen said, “In creating an inclusive, purpose-led culture, we strive to inspire our people to make a valuable impact for our clients, each other and society.” Looking ahead, he added, “The future holds exciting opportunities for Deloitte Switzerland. We will continue to invest energetically in our people and our services, and remain relentless in our commitment to support our clients in new markets and new ways. The investments we are making now will enable us to be even better connected as we approach 2020 and the years beyond.”
1 Y-o-y net revenue growth. Days-adjusted y-o-y net revenue growth is 10.0% (FY18 had four business days less than FY17).
2 This figure reflects the Deloitte Switzerland’s revenues generated by Swiss-based staff. Net revenue is total revenue excluding services rendered by partners and employees of other Deloitte practices abroad (CHF 152m in FY18) and expenses (CHF 56m).
3 FY17 net revenue adjusted to CHF 439m from CHF 438m stated in last year’s news release to align with global reporting as applicable in 2018.