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Nuremberg, 2 May 2023: Rödl & Partner successfully continued its growth course in the 2022 financial year. Despite the continuing effects of the Corona pandemic and intensified macroeconomic challenges, Rödl & Partner's global turnover rose to a total of 588.6 million euros (+10.7 percent). Germany accounted for 335.8 million euros (+13.9 per cent). In the past year, the professional services firm won many new and important mandates and the existing business with long-standing clients was noticeably expanded. The firm's clients worldwide are primarily internationally active German family businesses. Rödl & Partner expands with them worldwide and supports them in an interdisciplinary manner with all five service lines.
The growth in turnover in 2022 was driven by all service lines. Rödl & Partner generated strong growth in the transaction teams, both in legal advisory and tax consulting, transaction services in auditing and M&A advisory. The bespoke legal and tax advice for large international family businesses and family offices, but also for smaller and medium-sized private equity clients, proved to be positive factors as well. With its interdisciplinary advisory spectrum, Rödl & Partner moreover accompanied companies on their way to capital market readiness.
The strong M&A business in the German Mittelstand and succession advisory likewise provided significant impetus. Rödl & Partner also received extensive advisory engagements in the field of compliance, tax compliance and across numerous countries for DAX listed companies. The distinctive feature is that the tax consulting and declaration is provided by a single "local-to-local" source, with local and country-specific Rödl & Partner teams on site and not via shared services centres. Further mandates on corporate governance requirements for listed companies were also encouraging. Our process mining offering was in high demand. There was also continued interest for experts regarding the implementation, transition, optimisation and modernisation of ERP systems. Major clients were acquired in all our service lines.
Comprehensive advice and support for clients in their digitalisation projects were among the revenue drivers across the board. Digitally supported or digitally shaped services were also very much in focus in 2022. In legal advisory, the emphasis was on the legal adjustment of business models, defence against cybercrime and whistleblower protection. The digital transformation of tax compliance management systems was a key issue in tax consulting.
Business process outsourcing (BPO) continued its path across numerous countries. Globally, the share of non-standard services, including tax compliance and accounting advisory, was increased compared to standard services.
There is strong competition for the best talent in the advisory industry, which is not only limited to Europe. Therefore, Rödl & Partner has continued to invest heavily in technology solutions in many of its already highly digitalised offices around the world, which not only support productivity but also increase the quality of the services provided without disproportionately investing in additional human resources.
"Rödl & Partner is excellently positioned with its strategy. This allows us to create added value for our clients and employees," comments Prof. Dr. Christian Rödl, Chairman of the Management Board of Rödl & Partner. Especially in the tax field, Rödl & Partner has recorded very strong growth in all countries, but especially in India, Turkey and France, as well as in Germany.
"Numerous successful cross-border projects should also be highlighted, which we can handle efficiently and with appreciated quality worldwide due to our special structure as ONE firm," stresses Rödl. "The global structure is perceived and valued by more and more companies as very efficient and one-of-a-kind. In particular, our international local-to-local solutions are highly valued by international family businesses as well as by large corporations and our local support in this regard," Rödl is pleased with the past year.
The Chairman of the Management Board looks ahead with confidence and expects the positive development of Rödl & Partner to continue in the current year. Among others, he is counting on the energy sector, especially regarding consulting and auditing in the energy industry and the constantly growing field of renewable energies, as Rödl & Partner's wide-ranging expertise in the energy sector was again sought after in the past year.
The number of employees at Rödl & Partner further increased in comparison to the previous year and amounted to 5,466 at the end of last year (previous year 5,261). Of these, a good 2,120 colleagues are based in Germany (previous year 2,004). "We are an esteemed employer worldwide. Having our own local talent plays a major role for us. Thanks to them, we can ensure the same high advisory and audit standard for our clients all over the world," explains Rödl.
Rödl mentions the availability of highly qualified advisers, attorneys and auditors on the labour market as an important criterion for an even more positive business development.
The new financial year has started very positively for Rödl & Partner. From today's point of view, the firm is again expecting stable growth for the current year.
In tax consulting, for example, Rödl & Partner is already involved in comprehensive projects on the topic of Pillar II / minimum taxation with its clients and newly acquired contacts, which will continue in 2023. In legal advisory, the topic of ESG (Environmental, Social, Governance) is casting its shadow. Supply chain compliance is already affecting the Mittelstand. As a professional services firm, Rödl & Partner can help its clients to consistently meet the increased requirements for sustainable business – especially regarding the EU taxonomy. In addition, Rödl & Partner is planning to introduce technology solutions in many other countries. Therefore, a new version of a common payroll platform was worked on throughout the past year.
Regardless of this, there are still various challenges confronting the markets and thus also family businesses and corporations. For example, the war in Ukraine and its consequences continue to burden economic activities as well as supply chains. Even the question of energy supply security has still not been adequately answered.
"Numerous clients are facing major transformation and digitalisation projects. The upcoming and often complex tasks and changes require a high level of advisory. Rödl & Partner stands by them closely in difficult times as a reliable, caring partner. This is rewarded", Prof. Dr. Christian Rödl comments on the outlook.
Since the company was founded in 1977, Rödl & Partner has experienced continuous growth in its business activities: since 2012, total turnover has more than doubled.
Petar Grujicic-Hauck
Deputy Head of Marketing, Communications and Business Development
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