Deloitte announces revenue results of US$31.3 billion
Moscow, 15 October, 2012 – Deloitte Touche Tohmatsu Limited (DTTL) today announced aggregate member firm revenues of US$31.3 billion for the fiscal year ending 31 May 2012, marking the network’s highest revenue ever. Aggregate revenues grew 8.6 percent in U.S. dollars and 8.3 percent in local currency—the strongest revenue increase since 2008. Deloitte member firms experienced growth across all three major geographic regions, led by exceptional results generated in Asia Pacific, the Americas, and a number of developing markets, as well as across all business lines and industry sectors.
“Complexity, disruption, and speed of change are the new reality for our member firm clients, and for Deloitte’s own business,” said DTTL Global CEO Barry Salzberg. “Deloitte’s success this past year is the result of adapting business strategies to anticipate client needs and address the changing requirements of a dynamic market.”
Leadership development – A catalyst for growth
Deloitte continued to focus on hiring, developing, and retaining top talent as a key driver of the expansion of business activity. In FY2012, the Network hired 51,400 professionals; its total workforce now exceeds 193,000 professionals worldwide and the organization is well on its way to achieving its growth goal of 250,000 professionals by FY2015.
In addition to the continued focus on hiring, and to support strategies to be recognized as one of the top organizations in the world for developing world-class leaders, Deloitte is investing heavily in leadership development globally. This commitment can be seen in Deloitte University, a US$300 million learning and development facility located outside of Dallas, Texas, where Deloitte professionals come together to connect, share ideas, and identify and capitalize on new and innovative solutions to the most critical and complex issues facing global business today. More than 40,000 professionals from 70 countries attended Deloitte University over the last year.
“Deloitte has always been highly effective at attracting and retaining the world’s best talent,” commented Roger Dassen, Global Managing Director, Clients, Services and Talent, DTTL. “Given continued market uncertainty, increased regulation, and a competitive job market, it is of utmost importance that Deloitte stay ahead of the curve and develop its professionals so they are well equipped to serve clients.”
Continued investment in quality
The independent audit is crucial to protecting the investing public and capital markets. Deloitte takes pride in the auditor’s important role, and Deloitte member firms are investing in their audit practices to continuously enhance the quality of their audit work. Deloitte provides its people with extensive training and education on technical and regulatory matters, and on professional ethics and independence. The Network is constructively engaged with regulators and other stakeholders worldwide, promoting reforms that will enhance audit quality.
Creating impact through Olympic and Paralympic relationships
In FY2012, Deloitte extended its commitment to the Olympic and Paralympic movements by providing strategic insight and professional services to national Games committees. Deloitte professionals delivered services across the network’s full competency suite, in areas including organizational design, risk assessment, and sustainability.
Deloitte UK was integral in delivering the momentous London 2012 Olympic and Paralympic Games. Eight hundred Deloitte UK professionals contributed 750,000 hours of expertise to help stage the Games, ranging from establishing a procurement function that oversaw the purchase of more than £700 million (approximately US$1.1 billion) in goods and services, to creating the program to test operational readiness of the world’s largest-ever peacetime event. Deloitte’s London 2012 client story is a true showcase for the combined talents and experience that Deloitte delivers to any business challenge.
Growth across business and industry
Deloitte serves as an advisor to businesses from various industries and sectors, providing assurance and restructuring services, helping them adopt new technologies, and positioning them for growth. In the past year, Deloitte served more than 75 percent of the Global Fortune 500, working with them to address some of their most complex business issues.
In FY2012, Deloitte saw growth across all business lines and industries, with financial advisory and consulting experiencing 15 percent and 13.5 percent revenue growth, respectively.
Breakdown of business line and industry growth (aggregate across member firms, in USD):
The growth across industry and business lines was achieved despite challenging market conditions around the world, particularly in Europe. Growth was largely driven by Deloitte’s ability to provide a consistent suite of tools across member firms, a cornerstone of its global strategy.
Geographic performance (aggregate across member firms, in USD):
“In a challenging economic environment, US$1.4 billion of Deloitte’s US$2.5 billion aggregate growth in the past year came from member firms in the three largest economies in the world,” said Salzberg. “I believe that is a testament to Deloitte’s ability to not only gain strength in high-growth strategic markets, but also continue to build momentum in established markets globally.”
Strategic investments for growth
“To create value and growth, Deloitte combines a great foundational strength together with client insight and customization,” said Salzberg. “Innovation and opportunity will define the year ahead, for both Deloitte and member firm clients.”
Deloitte Fiscal Year 2012 Regional and Function Revenue Breakdown (aggregate)
|Region||$ Billions||USD Growth||Local Growth||% of Revenue|
|Function||$ Billions||USD Growth||Local Growth||% of Revenue|
|Tax and Legal||5.9||3.9%||3.7%||18.8%|
|Sub Region||$ Billions||USD Growth||Local Growth||% of Revenue|
Percentages may not add to 100 due to rounding
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte's more than 195,000 professionals are committed to becoming the standard of excellence.