Deloitte Belgium reports 7% net revenue increase, and looks at further growth by hiring 600 new employees

30 August 2011

Diegem, 30 August 2011 – Deloitte Belgium, the largest provider of professional services, announced its financial results for the 2011 financial year, which ran from 1 June 2010 to 31 May 2011. The firm recorded net revenues of € 316 million, an increase of 7% compared to last year. Deloitte's business in Belgium picked up strongly in all areas since January 2011. Deloitte is optimistic and is recruiting 600 new employees. For the new financial year, Deloitte is putting the coaching of employees very high on the agenda.

Increased net revenue of 7%: Strong results overall in the business units

Business at Deloitte Belgium has been recovering steadily since mid-2010, and has picked up strongly since the start of 2011. As a result, the firm recorded net revenues of € 316 million in 2011, an increase of 7% compared to last year; which is 2% more than what was predicted last year. Rik Vanpeteghem, CEO Deloitte Belgium explains: "In 2011, we've witnessed a clear economic recovery. The strengthening economy in Belgium in the past year encouraged more companies to look beyond crisis management and to invest in projects for the future, whether for organic development or growth via mergers and acquisitions (M&A). Increased M&A activity was clearly reflected in the demand for our Financial Advisory business (+31%)."

  Net revenue FY 2010
(million EUR)
Net revenue FY 2011
(million EUR)
Accounting 59 63
AERS 83 84
Consulting 56 63
Financial Advisory Services 7 9
Tax 90 97
Total 295 316

In October 2010, Deloitte became the world's largest private professional services network. Vanpeteghem continues: "In Belgium, Consulting (+13%), Tax (+8%) and Accounting (+5%) all reinforced their respective positions, whilst Audit & Enterprise Risk Services (+1%) consolidated its position. With new wins and the renewal of existing audit tenders over the past year, Deloitte is now the external auditor of more than half of the BEL 20 listed companies. Looking at our industry groups, activity increased in many sectors, and particularly in Life Sciences & Healthcare and manufacturing. Energy & Resources (E&R) is also an expanding sector, not least since topics such as carbon audits, sustainability and environmental considerations affect many more businesses than those involved directly in energy or resources."

Although the financial year 2011 has been very positive for Deloitte, the firm is aware of the different challenges the world is currently facing such as the Greek financing crisis and the continuing market pressure on other Eurozone countries. On another level, the ongoing debates around regulation could bring quite some changes for the audit sector and their clients. Deloitte is following these developments closely.

Talent and coaching as top priority

Employing over 2.500 professionals, Deloitte Belgium continues its strong focus on people development and is again planning to recruit 300 juniors in September and October 2011 and 300 experiences hires in during the new financial year 2012. Rik Vanpeteghem: "A sustainable firm is created by having engaged people, and therefore the possibility to grow is very important. It is Deloitte's ambition to become the number one destination for top talent. Key to achieving this goal is building a true coaching organization. In 2012, we will strongly focus on coaching our employees to provide careers that are meaningful to fit our people".

Deloitte wants to understand what moves its employees, and enables this in two ways: all Deloitte employees have individual counselors who coach them to achieve their goals, develop competencies and build careers that align individual aspirations with the firm's strategy. The firm has also evolved from a one-size-fits-all partnership model to one comprising different tracks, which include careers built around specialization, large-scale program delivery, compliance delivery and outsourcing. These broad career models are further refined to reflect the individual aspirations of Deloitte's employees.

Rik Vanpeteghem concludes:"Our strategic aim is clear. We have the ambition to become THE coaching organisation, that is the organisation where everyone takes coaching to heart, all the time, with as end-result, individualised career coaching for all".