Deloitte Luxembourg on November 24 reported a similar year of growth to 2021 with a 7% increase in firm-wide gross revenues. They reached 405 million euros for the 2022 financial year. “We have once again ensured consistent, sustainable and sustainable growth,” was the conclusion John Psaila, Managing Partner of Deloitte Luxembourg. The company’s three businesses were all up year over year, with Audit and Assurance up 7%, Advisory and Consulting up 9%, and Taxes up 3%.
The company says its advisory performance has been driven by key factors including strong growth in the non-ISP sector, digitization, financial advisory services, ESG services, disclosure solutions, and risk and regulatory services. “Our clients feel the urge to accelerate their transformation towards a more circular, resilient and decarbonized economy,” he said.
Sustainable companies need to evaluate their performance from a perspective other than financial
As part of its annual impact report, Deloitte Luxembourga has released its financial results, which reflect its belief that “sustainable companies need to look at their performance not only from a financial perspective,” explains John Psaila.
According to Deloitte, the interactive online report “reflects the diversity of actions the company and its professionals are taking to advance sustainability and drive positive change for its customers, communities and the planet.”
Mandatory sustainability training
These measures include what the company describes as a competitive rewards model that values excellence and a modern approach to flexible working “that enables Deloitte employees to work from where it matters, when it matters,” as well as a range of development and training opportunities.
In fact, this year the company introduced mandatory sustainability training, offering concrete advice on making climate-friendly choices at home and at work. Other initiatives include a Women In/To leadership network, a parenting program and the Globe LGBTQ+ and Allies Network.
The company employs around 2,500 specialists, including 754 young professionals in the 2022 financial year (1,048 including trainees). This year also saw the addition of 25 new employees, for a total of 148, including 29 women.
Francesca Messini, Head of Sustainable Development at Deloitte Luxembourg, says she’s pleased to see that the younger generation of talent (the average age of employees at the firm is 33) is attracted to companies “that are proving to be truly sustainable”. This creates “an additional incentive for companies to act,” she says.
Support local communities and Ukraine
But Deloitte Luxembourg also emphasized the local impact beyond its own employees. As part of the WorldClass mission launched worldwide – which aims to positively impact 100 million lives by 2030 – she has committed to helping 19,000 people locally and internationally. “In today’s challenging world, the success of a company like ours is truly measured by how well we create a more prosperous future together with all our stakeholders,” said John Psaila.
We see it as our responsibility to actively support the communities in which we live.
In its impact report, Deloitte Luxembourg said that it had already achieved 49% of its 2030 target by directly or indirectly affecting 9,386 people since its launch in 2019.
The company focuses its support on local organizations involved in education, equality and supporting vulnerable people. “We believe we have a responsibility to actively support the communities in which we live,” said Francesca Messini. “Luxembourg is home to many influential organizations with which we are proud to work to promote a more prosperous future – whether through education, climate action or supporting the most vulnerable, here and around the world.”
Deloitte Luxembourg and its employees, along with the firm’s other European offices, have mobilized to support those directly affected by the war in Ukraine. A special team has been put together to help relocate their Ukrainian colleagues and relatives and meet their urgent needs. Additional support has been provided in the form of cash grants and an expedited process to welcome Ukrainian professionals seeking employment opportunities.