Deloitte reported aggregate member firm revenue of US$46.2 billion for the fiscal year ending 31 May 2019 (FY2019). This is a 9.4 percent revenue increase in local currency and a US$3 billion increase over last year.
“At the core of Deloitte’s culture and business model is the fundamental belief that we exist to make a positive impact for clients, our people, and the communities in which we live and work. Our performance in FY2019 is evidence that a purpose-led approach works,” says Punit Renjen, Deloitte Global CEO. “Disruption and transformation are shaping business and society today, imposing new and urgent responsibilities on business leaders. Deloitte is meeting the challenges by building an equitable and sustainable business for the long term and holding itself accountable for the triple-bottom line of people, profit, and planet.”
Profit – Record revenue marks 10th consecutive year of growth
Deloitte’s strategy and multidisciplinary business model continued to drive success globally in FY2019. All five business areas—Audit & Assurance, Consulting, Financial Advisory, Risk Advisory, and Tax & Legal—grew during this time.
Among the regions, revenue in Asia Pacific grew fastest with a local currency growth of 11.6 percent, followed by the Americas at 10.4 percent, and Europe, the Middle East, and Africa (EMEA) at 7.9 percent.
“Our FY2019 results are a validation of Deloitte’s strategy to deliver high-quality, globally consistent service to our clients while continuing to serve the public interest. We evolved and innovated our offerings to address current and emerging client needs, and we increased our investments in learning and development to build a workforce with deep knowledge, capabilities, and leading-edge insights,” says Omar Fahoum, CEO, Deloitte Middle East.
“In today’s hyperconnected world, the best solutions to address client challenges are developed by ecosystems of problem solvers. Deloitte’s success is driven, in part, by our alliance relationships with many of the world’s most powerful and innovative companies that help our clients solve their most complex problems, shape new markets, and create sustainable value. The opening of a new Deloitte Digital Center in Riyadh demonstrates our commitment and represents a key pillar for our growth plans in the region,” added Fahoum.
People – Diversity and inclusion power the workforce of the future
In FY2019, Deloitte increased its workforce to approximately 312,000 professionals, a 9 percent increase. Growth occurred across all regions, with more than 90,000 professionals hired, of which 1,200 in the Middle East.
As Deloitte’s workforce continues to grow and as transformative technologies ─ such as digital, cloud, analytics, and artificial intelligence (AI) ─ become increasingly pervasive, Deloitte is focused on equipping its people with new capabilities that will enable them to be more tech savvy and future-ready.
Through initiatives like the new Deloitte Digital Center in Riyadh, a state-of-the-art facility to create, design and build digital solutions, Deloitte is helping clients unlock the potential of disruptive technologies and deliver cutting-edge products and services across the Middle East.
“Our focus is unwavering on diversity and inclusion, and advancement of women to leadership positions in the firm. In the last year, 51% of the interns joining the Deloitte Middle East Tadarab program were women, and women formed close to thirty five percent of experienced and graduate hires from across the region. We have strategies and programs to increase the number of women in our leadership ranks throughout the organization, with close to 20% of our senior management to partner positions being currently held by women,” says Rana Salhab, Talent and Communications Partner, Deloitte Middle East.
In addition to preparing its people and clients with the skills required for the jobs of the future, Deloitte is committed to helping millions of people around the world find meaningful work in the new economy. By 2030, Deloitte’s global societal impact initiative, WorldClass, aims to empower 50 million people by improving education outcomes, developing job skills, and providing access to opportunities. Since launching two years ago, WorldClass has reached 5.3 million people.
Planet – Shaping our future through environmental sustainability
Deloitte believes business has a critical responsibility to help mitigate the impacts of climate change.
Deloitte has committed to the global reduction of carbon emissions as part of its ongoing and increasing efforts to preserve the planet and natural resources for future generations. Deloitte strives to lower its carbon emissions in line with the Paris Agreement and has set specific reduction goals for its buildings, fleet, and business travel by FY2025 from its FY2017 levels. Those goals were formulated in line with methodologies put forth by the Science-Based Targets Initiative aimed at limiting emissions in accordance with the Paris Climate Agreement.
To learn more about Deloitte’s societal impact and FY2019 performance, please read Deloitte’s 2019 Global Impact Report.
Note: All growth rates presented in this press release are in local currency terms unless otherwise specified.