GROWTH IN ALL AREAS
BDO’s revenue has been on an upward trajectory for more than ten years, increasing by CHF 8.6 million (4.6 percent) in the year under review. A pleasing result, particularly given the challenges faced.
Total revenue in the year under review was CHF 195.1 million. This growth of 4.6 percent has a broad base.
Success in all our core areas
Revenue in Auditing increased by 2.9 percent to CHF 67.3 million. Despite pressure on fee rates, BDO increased revenue through several notable new mandates, thereby building up its strong market position even further. BDO is second in the Swiss market in terms of number of audit mandates.
Accounting services rose to CHF 64.4 million (+4.2 percent). This is the result of a range of services covering companies of all sizes: BDO performs accounting for small businesses and self-employed persons, and deputises and processes salary mandates for large, international businesses and business groups.
In the Tax & Legal Advice service division, revenue was CHF 21.3 million, reflecting moderate growth of 2.5 percent. Personnel changes were the reason for this subdued growth. BDO has since taken targeted measures to create the appropriate framework for future growth. These measures include expanding the range of services in the Tax & Legal Advice service division, and special services such as Global Mobility.
After years of growth, our Financial Services posted a fall in revenue in 2015 due to a planned reorganisation. In the year under review, Financial Services got back on track for growth again, with revenue at CHF 16.7 million, up by 18.5 percent. This can be attributed in particular to the expansion of its range of services for portfolio analysis and monitoring, as well as compliance consulting in the Western Switzerland Region.
Other services also on a growth track
Advisory services grew by 1.2 percent. This rise is the result of continuing brisk M&A activity, valuations and other audit-related advisory services. Thomson Reuters and Experian once again ranked BDO as the most successful M&A services provider in Switzerland in the 2016 calendar year, for companies with a market capitalisation of up to USD 500 million. The reorganised Performance Management service also established a firm footing in the market.
ABACUS-related services reported growth of 8.1 percent. These involved BDO's realisation of customised solutions for medium-sized companies, municipalities and not-for-profit organisations. The expanded software-as-a-service offering and the possibilities of performing data analyses accompanied by graphical content met with a great deal of interest.
Real Estate services continued with the shift from property management to appraisal and intermediation services in 2016. Notwithstanding this reorganisation, the segment reported growth of 2 percent.
The importance of IT is continuing to increase both at corporate and public sector level, with services related to IT security, IT governance and cyber security being subject to brisker demand.