Deloitte Switzerland: Increased revenue and more focus on sustainability

The audit and consulting firm Deloitte Switzerland achieved net revenue of CHF 597.2 million as of May 31, 2023 (+ 9.2%). Very sophisticated and often technology-intensive, interdisciplinary services with high added value that offer companies sustainable and future-proof solutions are driving growth.

All of the company's business areas and all sectors contributed to the positive financial results. Deloitte's management consulting services grew at an above-average rate, further consolidating the company's position as Switzerland's largest management consultant, according to the company's own statements. The Audit & Assurance business unit also recorded significant revenue growth.

Steep growth course

"Deloitte Switzerland remains on a steep growth trajectory. The past financial year was characterized by a deteriorating economic environment, increasing geopolitical tensions and a dried-up labor market. Despite this difficult environment, we managed to successfully support our almost entirely internationally active clientele, optimize our service portfolio, gain market share and create over 300 additional jobs," says Reto Savoia, CEO of Deloitte Switzerland.

Deloitte serves clients from all major industries. Banks and insurance companies remain the most important sector, followed by life sciences.

Commitment to customers and employees

Demand was particularly strong for support with technology-driven business transformations, cyber resilience, issues around the future of work, all aspects of cloud technology, and transactions. There was also strong demand for services in the area of sustainability and in connection with regulatory issues.

Deloitte says it wants to play its part in making Switzerland fit for the future. With its holistic approach, the company helps its clients to achieve sustainable growth and to face the current and sometimes very complex challenges, according to the statement.

Multidisciplinary model continues to be successful

"Thanks to our established and extremely successful multidisciplinary business model, which bundles all relevant industry and professional expertise in our company, we are always able to offer our clients the best possible services," says Reto Savoia.

Ongoing investments in the development of Deloitte's professionals include a focus on climate, sustainability and ESG reporting to help clients provide transparent, reliable and meaningful information that meets the evolving needs of different stakeholders.

Although alignment with recent international and EU regulations is still pending, it is already clear that the number of companies subject to disclosure requirements and the scope of reporting will increase significantly. "We expect the demand for these specific audit and advisory services to multiply within a few years," says Reto Savoia.

Fewer emissions and more commitments

Deloitte is actively engaged in climate action and driving positive change to meet the Paris Climate Agreement's greenhouse gas emissions reduction targets and has renewed its commitment to environmental sustainability, the company further announces. At the heart of this, it says, is the WorldClimate-initiative, which bundles ambitions in this area. This appears to have paid off: Despite an increase in emissions from business travel in the year under review, which was due to some pent-up demand after the pandemic, total emissions per FTE fell by 23 percent compared with pre-pandemic levels.

In terms of supply chains and procurement, Deloitte is committed to developing sustainable practices. By 2025, two-thirds of global suppliers are expected to follow science-based climate targets. In addition, specific sustainability-related clauses would be integrated into all supplier contracts. Business travel, the second largest source of emissions, would be reduced wherever reasonable and possible and optimized for sustainability through a dedicated system, Deloitte added. The company has also introduced various initiatives to raise employees' environmental awareness and established a network of more than 100 so-called "climate champions" who are committed to sustainable projects.

At the center of the company's social commitments is its own WorldClass-initiative. In the 2023 financial year, Deloitte Switzerland positively influenced the lives of 22,913 people as part of this initiative and invested CHF 1.35 million. Over 500 employees volunteered more than 7,000 hours at company expense, particularly in education.

Commitment to diversity and inclusion

Deloitte Switzerland says it attaches great importance to the development and well-being of its employees. In the 2023 financial year, a total of 962 new employees were added. Particular attention was paid to employee diversity, with the proportion of women increasing by a further three percentage points to 41 percent. The average age remained at 35. Deloitte employs people from 72 countries.

The company also promotes an inclusive culture through a variety of initiatives such as advancement programs, mentoring, and networking opportunities aimed at further improving the gender balance and specifically promoting the careers of women. Deloitte also lives a strict equal pay policy, which is confirmed by annual internal assessments and external validations.

Source: www.deloitte.com