In the 2019 financial yearRSM GmbH increased its revenues to 77.9 million euros – a plus of 29.2 percent – and thereby continued to expand its position as a dynamically growing audit and tax advisory firm. Already in 2018 RSM had a strong increase in turnover growth from 41.3 million euros to 60.3 million euros.
Of the total revenues amounting to 77.9 million euros generated in 2019, approximately 26.1 million euros were attributed to the service line Audit & Assurance (2018: 21.2 million euros), 36.5 million euros to the service line Tax (2018: 30 million euros), a good 1.5 million euros to the service line Legal Advisory (2018: 0.8 million euros) and 13.8 million euros to Transaction Services & Consulting (2018: 8.3 million euros).
The drivers for this growth were various factors, such as guiding cross-border transactions and winning numerous new clients, among whom were financial investors, new audit clients as well as a company publicly listed on the DAX. With this addition, RSM now audits 13 companies oriented to capital markets in Germany. Consulting in the service line Risk Advisory achieved a high two-digit growth rate with governance, risk und compliance issues along with digitalisation. Tax consulting also achieved above average growth.
The total development benefited from an ever growing need for consulting in the area of digitalisation, from a positive environment for corporate transactions and from ever increasing regulatory requirements, which many companies face. Overall RSM grew organically by 14.2 percent across all of its offices in Germany. The new office in Frankfurt with about 80 employees became completely integrated during the 2019 financial year and was an additional sustainable and important contribution to revenue growth.
The positive development in Germany was also influenced by growth in RSM’s international network, whose 2019 turnover rose by 6.9 percent to 4.9 billion euros. As a result RSM ranks 6th among the audit and tax advisory firms operating worldwide.
“We are very happy with the results generated in Germany as well as at the global level in the 2019 financial year. Many companies, especially medium-sized clients, view us increasingly as being an excellently positioned partner domestically as well as internationally. This development has driven our growth for many years, and we are confident this trend will continue. Of course, our new office in Frankfurt with its dynamism and size has given us an additional push,” says Herbert Brauner, Managing Partner of RSM GmbH in Germany.
Nevertheless, the original planning for 2020 has to be adjusted due to the corona pandemic. Before the corona crisis a growth in revenues of at least 10 percent to 86 million euros was calculated. In particular, the new clients we had gained in 2019 and a better positioning of our transaction business contributed to this growth target. Owing to current economic uncertainties, a quantification of this forecast is, however, plagued by great uncertainties. That is why RSM GmbH is now refraining from making an estimate for the current financial year. “We do not, however, rule out that 2020 may end with a growth in turnover. Many of our existing and also prospective clients do, at this time, appreciate that they have a reliable partner in us for supporting them in nearly all areas,” Brauner confidently affirms.
RSM GmbH is one of the top ten leading independent and partner-led audit and tax advisory firms in Germany. In 15 offices more than 600 employees, among whom as qualified professionals are more than 200 auditors, tax advisors and lawyers, take care of mainly medium-sized companies with their questions concerning audits as well as tax, transaction, management and legal consulting. RSM GmbH also advises its clients through its worldwide RSM network with 43,000 employees in 810 branches in 121 countries.
Further information can be found on our website: www.rsm.de
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