Between June 2006 and the end of May 2007, Deloitte experienced a 17% increase in revenues (compared to 2006), for a total of nearly 100 million Euros. Its three business sectors - audit, tax, advisory & consulting - have again posted a two-digit growth rate this year and exhibit similar revenues by volume.

“Our good results are the result of a buoyant international environment, sustained marketplace activity and a service offer that is truly multidisciplinary and especially suited to our clients’ requirements.

Despite widespread nervousness about the potential impact of the crisis in the financial markets (sub-prime) on the European and Luxembourg economies in particular, we have not noticed any drop in our activities for the time being, rather the opposite. We are on a growth trend of more than 30% for the first four months of the financial year. Our advisory & consulting and tax centres of expertise are performing particularly well at this time.” Maurice Lam, Managing Partner, said.

The main engines of our growth: the financial services industry and our multidisciplinary strategy

This growth has been sustained most by the professional services to the financial services industry (+20%) and in particular the advisory and consulting services (+45%). Thus, our clients’ needs in services linked to the private equity, real estate and securitisation sectors are expanding rapidly. The financial structures, investments funds, SICARs (“Société d’Investissement en Capital à Risque”, or venture capital investment company), or SIFs, have generated a significant volume of advisory & consulting, taxation and audit services.

Among the other growth factors, we highlight the investments by our clients in order to comply with banking regulations (Bâle II, FINREP / COREP, IFRS, MIFID, SOLVENCY II, etc), the very strong turn-round of investments in information systems (Core banking / fund systems, ERP), the implementation of increasingly sophisticated risk management procedures and tools as well as the mergers & acquisitions / regionalisations, which generate substantial services for integrating our clients’ organisations.

“These complex issues demand a real ability for multidisciplinary delivery. Today we are benefiting from the Deloitte group’s global strategy, which has consisted of keeping all our advisory and consulting functions at a local and worldwide level, unlike our competitors. For example, in Luxembourg we have an advisory and consulting centre of expertise of over 240 people, which has a real ability for technological delivery, essential for helping our clients implement our recommendations.” explain Yves Francis and Thierry Hoeltgen, leaders of the advisory and consulting centres of expertise.

Good performance for the other professional services across all sectors

For the whole of our markets, i.e. taking all segments together, human capital advisory services, co-sourcing and resourcing have also experienced very sustained activity. Together these services post a revenue increase of approximately 20%. We have also recorded a significant growth in our services for the Luxembourg public sector through support for strategic projects.

This year, Deloitte rolled out major initiatives promoting Luxembourg abroad. These investments have clearly supported the 42% rise in revenues for our Tax department. “We consider that, as a Luxembourg professional services firm, our role is also one of promoting Luxembourg’s competitiveness in taxation and financial terms abroad. We have been very successful recently, even if certain other marketplaces are positioning themselves more and more in terms of such amenities.” Sonja Linz, leader of the Tax activity, stated.

The talents: key element of the firm’s success in 2007 and of future growth

Deloitte currently has nearly 900 employees, including 43 Partners.

In 2007 Deloitte recruited about 280 people, of whom 60% were recent graduates and 40% were experienced staff drawn mainly from the financial industry, a direct consequence of our multidisciplinary strategy.

We consider that recruiting, maintaining and developing our pool of talents is, and will be, a key factor in the growth of our firm.

“In this field, the challenge consists of anticipating and responding to the changing requirements of our current and future staff. These generally no longer concern the level of their salary. On the other hand, our values as a firm, the brand promise that we represent, our response to the development of their talents and the way in which we are involved in their career advancement and professional development are decisive elements. Indeed, our future success is linked to our ability to deal with the special characteristics of these different generations of talents, “Generation X” and “Generation Y”. This analysis is obviously not just valid for Deloitte; it also applies to our customers”, stated Gilbert Renel, leader of the Human Capital centre of expertise.

About Deloitte

Deloitte SA is a member of the Deloitte Touche Tohmatsu network, one of the leading professional services firms worldwide. With 150,000 staff in nearly 140 countries, our group serves nearly 80% of the world’s largest corporations, as well large national companies, public institutions and rapidly expanding companies.