KPMG exceeded expectations in 2014

KPMG exceeded expectations in 2014

In its first year of operation KPMG in Denmark generated revenue of more than DKK 100 million from audit, assurance, tax services, management consulting, risk consulting and deal advisory. Significant growth is projected in 2015.

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“We have exceeded our initial targets. KPMG has in record-time become a fully operational firm, with a growing client list and a highly motivated and dedicated team of partners and employees. The positive feedback from the market instils confidence, and we are extremely grateful for the strong vote of confidence from clients so far,” said CEO and Senior Partner Thomas Hofman-Bang.

KPMG passed the following milestones in its first year of operation:

  • KPMG in Denmark serves more than 1,000 clients, ranging from start-up entrepreneurs to large listed multinationals as well as organisations, municipalities and state institutions.
  • Since KPMG received its license to operate as an audit firm in February 2014, KPMG has secured the audits of more than 800 companies.
  • KPMG has won more than 150 advisory engagements, across Management Consulting, Risk Consulting and Deal Advisory.
  • KPMG Acor Tax has more than 400 engagements and a client list comprising more than half of the companies in Nasdaq Copenhagen’s C20 Cap index.
  • KPMG is fully operational with 385 people in two key locations – Copenhagen and Aarhus, with additional facilities in Kolding and Aalborg.
  • The governance structure is well implemented with a diverse, commercial and international leadership team as well as 47 partners.

In 2014, KPMG incurred significant initial build-up costs, for example in recruitment, governance and legal matters, IT and systems set-up, etc. These initial costs were covered by the KPMG network, allowing KPMG to report a break-even result for its first year of operation.

In 2015, KPMG expects revenue to be significantly higher and results to be at the same level as in 2014.

“We pursue a strategic aim to build an innovative professional services firm with equal focus on audit, tax and advisory services tailored to the Danish market. We will continue to challenge conventions and work across functions to help our clients seize growth opportunities in Denmark and abroad. Our business investment continues both in terms of building staff and building additional areas of expertise, and we are planning for further expansion into traditional and non-traditional areas of service, supported by a strong pipeline of future projects, where we see growth month on month,” said CEO and Senior Partner Thomas Hofman-Bang.

KPMG in Denmark provides audit, tax and advisory services through a cross-functional collaboration between KPMG P/S (licence to provide audit and advisory services) and KPMG Acor Tax P/S (licence to provide tax services). 

Find the KPMG P/S Annual Report 2014 here.

 


 

KPMG overgik forventningerne i 2014

I sit første driftsår skabte KPMG i Danmark en omsætning på mere end 100 mio. kr. fra revision, assurance, skatterådgivning, management consulting, risk consulting og deal advisory. Ledelsen forventer væsentlig vækst i 2015.

”Vi har overgået vores oprindelige målsætninger. KPMG er på rekordtid blevet en fuldt funktionsdygtig virksomhed med en voksende kundeliste og et stærkt motiveret og dedikeret hold af partnere og medarbejdere. Den positive feedback fra markedet giver os selvtillid, og vi er særdeles taknemmelige for den stærke tillidserklæring fra kunderne indtil nu,” siger CEO og Senior Partner Thomas Hofman-Bang.

KPMG nåede følgende milepæle i det første driftsår:

  • KPMG i Danmark betjener omkring 1.000 kunder, som spænder fra iværksættervirksomheder til store børsnoterede multinationale virksomheder samt organisationer, kommuner og statslige institutioner.
  • Siden KPMG i februar 2014 fik licens til at udøve revisionsvirksomhed, har KPMG revideret mere end 800 selskaber.
  • KPMG har vundet flere end 150 rådgivningsopgaver på tværs af områderne Management Consulting, Risk Consulting og Deal Advisory.
  • KPMG Acor Tax har flere end 400 opgaver og en kundeliste, som indeholder over halvdelen af selskaberne i Nasdaq Copenhagens C20 Cap-indeks.
  • KPMG er fuldt funktionsdygtig med 385 medarbejdere på to centrale lokationer – København og Aarhus – samt øvrige faciliteter i Kolding og Aalborg.
  • Ledelsesstrukturen er på plads med en mangfoldig, kommercielt orienteret og international ledergruppe samt 47 partnere.

I 2014 afholdt KPMG væsentlige omkostninger til opbygning, herunder rekruttering, ledelsesmæssige og juridiske forhold, etablering af IT og systemer mv. Disse omkostninger blev dækket af KPMG-netværket, og derfor kunne KPMG rapportere et nulresultat i det første driftsår.

I 2015 forventer KPMG en væsentligt højere omsætning og et resultat på samme niveau som i 2014.

“Vi forfølger en strategisk målsætning om at skabe en innovativ revisions- og rådgivningsvirksomhed med lige stort fokus på revisions-, skatte- og rådgivningsydelser skræddersyet til det danske marked. Vi vil fortsætte med at udfordre konventionerne i markedet og arbejde på tværs af vores funktioner for at hjælpe kunderne med at udnytte vækstmulighederne i Danmark og udlandet. Vores investeringer i forretningen fortsætter med henblik på at udbygge vores hold af medarbejdere og vores ekspertiseområder, og vi planlægger at udvide på traditionelle og mindre traditionelle områder med afsæt i en stærk ordrebog og en portefølje af projekter, som vokser måned for måned,” siger CEO og Senior Partner Thomas Hofman-Bang.

KPMG i Danmark tilbyder revisions-, skatte- og rådgivningsydelser gennem et tværfunktionelt samarbejde mellem KPMG P/S (revisions- og rådgivningslicens) og KPMG Acor Tax P/S (skatterådgivningslicens).

Find KPMG P/S årsrapporten 2014 her.

 

This announcement was prepared in English and translated to Danish. In case of discrepancies or doubt, the English version will prevail.

 

© 2016 KPMG P/S, a Danish limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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