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Facts & figures
Achieving in uncertain times
Against a background of uncertainty and recession, Deloitte Belgium’s FY09 revenue growth of 3% showed a strong performance. It reflects the good balance of our business between a range of different expert services, and across many industry sectors. FY09 saw a slight increase in headcount overall. The Deloitte member firms also achieved growth, of 1% in local currency terms. Asia Pacific was the fastest-growing region for the fifth consecutive year and Consulting the fastest growing function. The global workforce now stands at approximately 169,000 people, representing a 4.5% increase from 2008.
Much of FY09 was against a background of uncertainty and recession. In that context, revenue growth of 3% was a strong performance from our firm.
Building on a leadership position in Belgium
Our financial year 2008 was our most successful ever, reaching new levels of achievement. Obviously, those superb results were realised in a time of high global growth. Much of financial year 2009 was against a background of uncertainty and recession. In that context, revenue growth of 3% was another strong performance from our firm. It also reflects the good balance of our business between a range of different expert services, and across many industry sectors – while, for example, M&A services and the real estate sector were hard-hit by the credit crisis, other areas such as business transformation and the public sector increased their activity.
Revenues per industry FY09
While growth in the number of employees was lower than originally projected for the year, reflecting slower revenue growth, there was a slight increase in headcount overall.
| Revenue (in millions of EUR) |
2006 | 2007 | 2008 | 2009 |
| Audit & ERS | 77 | 78 | 85 | 90 |
| Accountancy | 54 | 57 | 64 | 63 |
| Tax | 71 | 78 | 93 | 96 |
| FAS | 9 | 11 | 10 | 7 |
| Consulting | 41 | 45 | 56 | 61 |
| Total | 252 | 269 | 308 | 317 |
Number of employees
The global picture
The Deloitte member firms also achieved growth, of 1% in local currency terms, for the financial year ending 31 May 2009. In U.S. dollar terms, the aggregate member firm revenues were $26.1 billion, a 4.9% decrease from the prior year. The aggregate compounded annual growth rate (CAGR) was 9.4% from 2005-2009.
The Asia Pacific region, with local currency growth of 7.6%, was the fastest-growing region for the fifth consecutive year. The Europe, Middle East, and Africa region (EMEA) and the Americas region experienced positive growth of 2% and a decline of 1.3%, respectively, in local currency. Several sub-regions achieved exceptional growth, including Africa (21.3%), the Middle East (15.6%), and Latin America and the Caribbean (13.7%).
Consulting was the fastest growing function at 7.3%. Reflecting the challenging economy, both audit and tax were relatively flat against the prior year. Financial advisory services decreased by 6.1% from the prior year, primarily due to substantially decreased merger and acquisition activity.
The difficult economic climate required many member firms to adjust their cost structures, including in some cases workforce realignments, while continuing to compete aggressively for talent. The workforce now stands at approximately 169,000 people globally, representing a 4.5% increase from 2008.
Deloitte continues to make substantial investments in the professional development of its people to meet the demands and expectations of all stakeholders. Additionally, in financial year 2009, Deloitte committed more than US$1 billion in investments in other areas, including plans to construct Deloitte University, a state-of-the-art learning and development facility, and substantial incremental investment in selected emerging and priority markets.
| Region | 2009 Revenues USD Billion |
USD Growth | Local Currency Growth |
| Americas | 12.5 | -3.7% | -1.3% |
| Asia Pacific | 3.4 | 4.7% | 7.6% |
| Europe/Middle East/Africa | 10.2 | -9.0% | 2.0% |
| Total | 26.1 | -4.9% | 1.0% |
| Service line | 2009 Revenues USD Billion |
USD Growth | Local Currency Growth Heading |
| Audit | 11.9 | -6.4 | -0.8 |
| Consulting | 6.5 | 2.0% | 7.3% |
| Financial Advisory Services | 2.0 | -13.8% | -6.1% |
| Tax | 5.7 | -5.5% | 0.8% |
| Total | 26.1 | -4.9% | 1.0% |