Rödl & Partner GbR
Rödl & Partner doubles growth / Reinforcing lead position among professional service firms for European mid-tier business
Rödl & Partner GbR / Key word(s): Final Results/Forecast Rödl & Partner doubles growth / Reinforcing lead position among professional service firms for European mid-tier business – Worldwide growth of 8 per cent with revenues up at EUR 235.2 m – New leadership generation: 2011 firm management team aiming high – Successful business model: worldwide multi-disciplinary professional services – International expansion: new locations announced in Latin America, Western Europe and Central Asia Nuremberg, 26 May 2011: Rödl & Partner continues their unique growth story. In the 2010 financial year (31 Dec 2010), revenues rose by 8 per cent to reach EUR 235.2 m. The number of partners and staff increased marginally to 3,050. The continued growth allows Germany's leading independent accounting and advisory firm to further strengthen its position as one of the best-known professional services specialists for international business organisations, many of which are closely held and German headquartered. After the successful handover to a young and ambitious team of managing partners as of 2011, the firm continues to build on its strength as a multi-disciplinary practice with a special focus on European mid-tier business. 'In 2010 we exceeded our targets. Our clients count on our comprehensive service experience and on our global presence', explains Christian Rödl, spokesperson of the board of managing partners at Rödl & Partner. 'In addition to our traditional focus on manufacturing and services industries, we see growing demand coming from private equity firms and organisations interested in M&A activity. These clients appreciate our experience with family-owned companies and value our entrepreneurial approach to our profession.' Rödl & Partner sees this as a resounding affirmation of its business model. 'Our cross-border, multi-disciplinary professional services exactly meet the requirements of many closely-held businesses. In the future, we will continue to focus on worldwide growth based on our own resources with our offices worldwide', emphasises Christian Rödl. 'Furthermore, we are open to consider the integration of successful smaller practices and teams provided we see a real fit with our special corporate culture. In the last financial year Rödl & Partner recorded strong growth in the four business areas of legal and tax advisory services, business consulting and audit & accounting. In particular, there was exceptional growth of 65 per cent for consulting services including IT consulting. Demand is very strong for consulting services with corporate transactions, internal audit, risk management, corporate finance, cloud computing and outsourcing. At the end of 2010 Rödl & Partner founded 'Rödl IT Operation' (RIO) specialising in outsourcing and operation of complete IT infrastructures for upper-market closely held business organisations, based on SAP. 'RIO has enabled us to enter the top league of IT consulting providers for German medium-sized companies', explains managing partner Wolfgang Kraus. 'In 2010, we also experienced dynamic growth in the area of business consulting. There is a vibrant demand for consulting services in the areas of M&A, company valuations and corporate finance. We plan to further expand our management and IT consulting services and especially also to prepare for substantial international growth.' Against the trend, Rödl & Partner was able to expand its audit activities and gain further market share. Here the provision of audit-related services continues to gain in significance. 'Statutory audit is no longer seen as an analysis merely related to the past. Accountants today often take on an advisory function to elaborate future-oriented concepts for corporate planning, from procedures and processes up to risk management', stresses managing partner Martin Wambach. 'The focus of our activities is the integration of international reporting processes, the further development of the accounting system into a comprehensive management information system, and also cash management. Our integrated service approach allows us to call on the support of our own specialist teams. That gives us a decisive competitive edge.' The orientation towards the growth area of renewable energy has also proven to be a factor for success in the international consulting business. Consulting services are provided to project developers and companies in the areas of solar energy, wind energy, biomass and geothermal energy all around the world. 'In the energy sector, we are a leading consulting firm in thriving markets such as Germany, Italy, Spain, China and the US', emphasises Christian Rödl. Business expanded in 2010 in the area of real estate and in particular with property investment funds. The acquisition of the 'Hamburger Meile' property at the beginning of the year was one of Germany's largest real estate transactions in 2010 and was completed with the help of Rödl & Partner legal and tax advisory services. 'Despite difficult market conditions, we managed to further consolidate our leading position with consulting services for unit trusts. In the meantime, our legal and tax specialisation in combination with in-depth expertise has enabled us to become a prime address for this field in Germany', reports Christian Rödl. Business continued to grow in the public sector where in Germany Rödl & Partner has become a market leader. The focus here is the provision of advisory services for the Federal government, German states, local authorities and public sector companies in fields such as energy, transportation, health, social services, water supply and real estate. Growth drivers for consulting services to the public sector in the last year were support for cities in the changeover to commercial accounting (Doppik), budget consolidation and strategic consulting services for public utilities. 'Our business model is perfectly matched to projects such as budget consolidation because here there is a need for extensive expertise in commercial, tax and legal matters', points out Martin Wambach. 'Last year in Germany we successfully provided advisory services for budget consolidation to more than 50 cities and local authorities.' International offices drive growth The opening of a new office in Georgia at the beginning of 2010 served to further expand our presence in the CIS region. The number of offices has therefore now risen to 85. Further expansion into Belgium, the Netherlands and Mexico is being prepared. 'It proved to be the right decision during the financial and economic crisis to be loyal to our people and our investment destinations outside Germany. Where other organisations changed track during the crisis, we maintained our course. The firm's current dynamic development is a direct result of this', says Christian Rödl. 'Now we are in an ideal position to participate in the strong upswing worldwide. Since the middle of 2010 the number of company acquisitions abroad has increased substantially. Many German companies have taken over competitors or previous joint venture partners and are strengthening their presence on the world market. Our international M&A advisory services are experiencing a boom.' Prospects: new management generation – strategic growth planned At the end of 2010 founding partner Bernd Rödl, 67, retired from the management of the firm. Preparations for the handover had begun 5 years ago already. 'It is with pride that we are able to bring in the next generation of a well-established and strong management team to enable us to continue our success story. All seven managing partners have held leading positions within the firm for more than ten years. This continuity and reliability is an important component of our corporate culture and values', explains Christian Rödl. Rödl & Partner expects strong further growth in the coming year. 'We are experiencing an unbelievably dynamic development in the upper mid-tier businesses that we follow', says Christian Rödl. The expansion of international locations continually requires lawyers, tax consultants, business consultants and accountants. 'In the current year, Rödl & Partner plans to take on between 100 and 200 new staff around the world. In Germany, in particular, the offices of Eschborn, Hamburg, Cologne, Munich, Nuremberg and Stuttgart will be further expanded.' Justification of this optimism is indicated by today's Forum Going Global, an international investment conference held at the Nuremberg head office of Rödl & Partner with more than 700 participating this year. In its twelfth year, the event has become one of the largest conferences on foreign investment and international business in Germany. Your contacts:
Prof. Dr. Christian Rödl, LL.M.
Dipl.-Kfm. Wolfgang Kraus
Dipl.-Kfm. Martin Wambach
Press Contact: Photos of your contacts and of the annual conference can be downloaded from the Rödl & Partner press center online at www.roedl.de/pressecenter .
Profile Rödl & Partner is specialised in offering comprehensive services which are often ideally suited for closely-held, family-owned businesses. Its mission is to offer clients at home and around the world the best possible support to enable them to achieve their business objectives. Clients have a contact person who co-ordinates all necessary legal, accounting and audit consulting services. This allows our international clients to completely focus on business growth. When in a consulting role, Rödl & Partner professionals also see themselves as entrepreneurs. Rödl &Partner was founded in 1977 and since then has managed to grow organically. Since 1990 the firm has built up a network of own offices in Central and Eastern Europe, Western Europe, Asia, America, Africa and the Middle East. This allows us to offer clients transnational professional services with specially trained professionals, and in the German language. More information on Rödl & Partner is available at www.roedl.com. End of financial news 26.05.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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