Danish Impact Report
Living our purpose
By Anders Dons, CEO & Partner
In two years from now, Deloitte will celebrate its 175th anniversary as a global brand. Not many companies in this fast-changing era can say that. I believe the reason we still exist and continue to be market leading is because we manage to embrace and embark on paradigm shifts, adapt our business to new market conditions – and it is because we continue to drive change, innovate and grow stronger. Our strong global brand holds competence centres of excellence; our local presence and expertise enable us to provide targeted value to each of our clients. I also believe, that our ambition to be the undisputed leader in professional services is our driving force, while our 2020 strategy help us maintain and strengthen this position.
Looking back at the past year at Deloitte, I am amazed by what we have achieved. As a strong team of passionate people, committed to making an impact for our clients, the people we work with and the society we live in. We talk about impact because it is central to our purpose. It is why we do what we do and how we measure ourselves. It is a way to show our stakeholders the difference we make.
At Deloitte, we’re more than auditors, consultants, financial advisers, analysts or tax specialists. Every day, we’re building trust and confidence in the markets, supporting inclusive growth and developing skills so our country can thrive. Looking ahead, it is our ambition to keep driving change for the market and our clients, to promote a learning culture and to create an impact in the society around us.
“We will continue to be bold enough to create a culture of courage, to drive change and embrace diversity in our teams and as a firm. We will keep making each other and our clients successful in the future.”
Towards undisputed leadership
Deloitte’s strategy towards 2020 is founded on our aspiration to be undisputed market leader within professional services. This aspiration reflects our purpose to make an impact on everything that matters to our clients, people and the societies we live in. This means we are committed to doing everything within our power to make our clients and each other successful. Our strategy is designed to respond to megatrends around digitalization, workforce of the future and competitive landscape.
The strategy builds on the following principles:
The 2020 strategy was laid out in 2014 and involves four transitions that ensure we offer the best of Deloitte to our clients. Already ahead of the plan, here is the status on the four strategy pillars:
Three years into our 2020 strategy, we are ahead of the plan. The financial performance is more than a year ahead despite big investments in new services by our five businesses. We have accelerated the global integration of Deloitte and are now part of North West Europe and Nordics. Strategic client relationship programs and a focus on being best within industries and market segments show strong growth.
We continue to have the best image in our profession and are the 3rd most attractive workplace among business students. We have created strong talent, leadership and diversity programs, but are behind plan in developing female leaders and partners. We changed our footprint in Denmark from 21 to eight offices to build stronger talent environments and deliver high client service.
Revenue for the financial year 2017/18 amounts to DKK 3,429m against DKK 3,091m for 2016/17, representing 11% growth that results primarily from organic growth.
Financial performance for the year
Profit for the financial year 2017/18 amounts to DKK 87m, which is DKK 1m more than last year. In evaluating the profit, it should be considered that the shareholders of the Company are also its partners and that their remuneration is profit-related. This remuneration has been recognised in staff costs.
Development in number of employees
At financial year-end, the number of employees was 2,717 compared to 2,741 the previous year. Out of the number of employees, 232 were partners.
Revenue by business unit
As expected, the development in the composition of business units is that, over a five-year period, Audit will account for a declining part of total business as the advisory services market is increasing relatively more.