Business
“Our commitment to consistently surpass client expectations, foster an innovative culture and make meaningful societal contributions is deeply enshrined in our Deloitte DNA. These values enable us to deliver our purpose to build better futures that benefit not only our clients but also our people, the marketplace and communities we live in.”
John Psaila, CEO and Managing Partner
More than numbers – a purpose-driven organization
At Deloitte Luxembourg, financial performance, though an important measure, is only a part of our holistic approach to impact. We firmly believe in being a purpose-led organization, one that strives to provide its clients with pristine quality, that empowers its people to excel and craft their own stories, that actively supports the communities we live in, and that contributes to leaving a more sustainable planet for the next generation.
This ambition, espoused by the concrete actions presented in this 5th Impact Report, enables the robust financial performance we have secured again this year. With a growth of 14%, we reach gross revenues of EUR462 million.
Each of our business functions have significantly contributed to this growth.
They achieved this by steadily aiming higher – to serve with excellence and be a partner of choice for our clients.
They went further by tenaciously embracing change and expanding our offerings to better accompany our clients on their transformative journeys.
Finally, through the effective collaboration between each Deloitte professional along each service line, together we leveraged the strength and resilience of our unique multi-disciplinary model to make an impact.
Advisory & Consulting
Amid the evolving business landscape, our Advisory & Consulting practice has once again achieved robust performance this year. Growth has been driven by strong traction in our investment management operate services, in our tech-driven transformation services, and in our advisory services, especially in corporate finance and restructuring.
At the heart of our success lies our A-I-O Approach – Advise, Implement, Operate – a comprehensive strategy that embodies how we offer holistic solutions to our clients. Combined with our focus on resilience, we bring the agility needed to support our clients through their transformational journey, navigating challenges and uncertainties with a reliable, but innovative, approach.
We continue to strengthen our ESG-related services, to support our clients in adopting sustainable and responsible business practices that align with our Deloitte values and benefit the broader community.
This year has also been marked by the rapid rise of generative AI, which has emerged as a disruptive force, significantly impacting how we work and how our clients operate, particularly those heavily reliant on unstructured data. The establishment of the Global Deloitte AI Institute represents our intention to spearhead innovation on this topic by serving as a global and EU incubator for ground-breaking technologies. Forging new alliances and deploying the might of Deloitte’s global network is the strategic cornerstone of our approach and emphasizes the importance we place on collaboration to steer collective success amid this transformative landscape.
Moreover, as we navigate complex ethical and regulatory considerations, including the forthcoming EU AI Act, we affirm our commitment to a responsible and ethical framework for AI deployment. This framework safeguards the integrity and trustworthiness of AI-driven solutions and ensures its ethical and sustainable integration into our societal fabric.
“GenAI might be reshaping the world we live in, but the driving force behind our success – past, present, and future – remains the same: our people and teams. They are at the heart of every innovation, shaping a future where technology and human potential converge for extraordinary achievements.”
Patrick Laurent, Advisory & Consulting Leader and Deloitte DCE GenAI Leader
Audit & Assurance
This year, fueled by the dedication of our diverse teams, our Audit & Assurance practice achieved another remarkable performance. This success was made possible through our collective commitment to Deloitte's longstanding culture of quality, integrity, and transparency.
To cultivate continued growth and lay a robust foundation for future achievement, we made significant investments in our talent, equipping them with advanced skills in technology and data to adeptly navigate the swiftly evolving demands of our profession. This strategic investment empowered our teams to establish new industry benchmarks for quality and seamlessly adapt to the rapidly changing economic, business, and regulatory landscapes.
In line with our mission to foster sustainable economies, our practice fostered active collaborations with all participants in the financial reporting ecosystem, advocating for shared standards that will guarantee the credibility and reliability of ESG information. These collaborative efforts not only bolstered the strength of financial markets but also drove impactful transformations within the communities we serve.
As we tackle various geopolitical challenges impacting our clients and their operations – such as crises, cyber threats, and regulatory shifts – we dedicate ourselves to upholding the highest professional standards. Our relentless dedication to excellence and continuous eye toward improvement are core to Deloitte's esteemed reputation and reinforce our promise to contribute to a more resilient, sustainable, and dynamic global economy.
“Our Audit & Assurance practice’s success lies in its unshakable commitment to the very values at the heart of Deloitte’s DNA: integrity, quality and excellence. These core principles guide how our talented teams serve our clients and interact with stakeholders – from regulators to capital markets, policy makers and the general public. Our people are the true measure of our capacity to be a partner of choice by inspiring confidence and trust”
Christiane Chadoeuf, Audit & Assurance Leader
Tax
The sustained growth within our Tax practice is a testament to the profound expertise and dedication to quality client services exhibited by our teams of professionals. As the contemporary tax landscape continues to evolve, marked by complexity and increased emphases on environmental, social, and governance (ESG) considerations, our growth has been fueled by our clients' burgeoning requirements for comprehensive tax governance. We respond to their needs by providing support in critical areas, including transfer pricing, where transparency requirements are on the rise. Additionally, we actively provide compliance readiness services associated with the forthcoming Pillar II legislation and assist our clients with responses to tax controversies when they arise.
To ensure the highest level of service, we strategically expand our teams by recruiting professionals with advanced technological skills and a deep understanding of the digital landscape. These new additions possess a unique ability to bridge the gap between the intricacies of taxation and the rapidly evolving digital world.
Looking ahead, we anticipate that the potential adoption of the Pillar I directive, the pressing issue of cross-border tax adjustments, and the probable VAT harmonization at the EU level will drive an increase in our clients' demands. Our approach to staying ahead of these developments positions us as the go-to advisors for businesses navigating these complex regulatory changes.
Moreover, our proficiency in handling M&A transactions in all major sectors (Private Equity, Real Estate, Credit and Infrastructure) combined with our ability to provide added-value services along the entire value chain (tech-enabled investor tax reporting solutions, fund structuring assistance, tax transaction services and pan-EU tax operate services) are pivotal to catering to our clients’ dynamic needs .
Through our steadfast commitment to delivering exceptional service and our proactive adaptation to the latest industry trends, we are confident in our ability to continue leading the way in providing comprehensive and forward-thinking tax solutions for our clients.
“With great pride, we consistently support our clients in navigating the intricacies of today's dynamic tax landscape. Our commitment to being their preferred partner is bolstered by our ability to deliver optimal and tailored solutions that leverage the potential of technology to enhance their agility and resilience amid the rapidly evolving tax environment.”
Bernard David, Tax Leader
