“We are significantly investing in our business growth accelerator fund to fast-track growth and innovation over the next four years,” said David Capocci, managing partner at KPMG Luxembourg, in a press statement on Thursday 16 January 2025. Library photo: Romain Gamba

“We are significantly investing in our business growth accelerator fund to fast-track growth and innovation over the next four years,” said David Capocci, managing partner at KPMG Luxembourg, in a press statement on Thursday 16 January 2025. Library photo: Romain Gamba

KPMG Luxembourg reported €343m revenue for financial year 2024, a 50% growth in four years, driven by investments in technology, upskilling and talent development.

KPMG Luxembourg has reported a gross revenue of €343m for the fiscal year 2024, reflecting a 50% growth over the last four years. on Thursday 16 January 2025, the increase marked the completion of the first term under the current management mandate and the firm’s growth in audit, tax and advisory services.

The Luxembourg branch of the global professional services firm attributed its growth to strategic investments in people, technology and operational excellence. Managing partner described the firm’s objectives as ambitious, focusing on becoming the preferred choice for both clients and employees. He highlighted a high employee satisfaction score, with 83% recognising growth opportunities and 81% affirming KPMG as an excellent workplace for career development.

Audit practice

KPMG’s audit division experienced significant gains, driven by a 20% average growth in alternative markets such as private equity, real estate and debt, alongside sectors like commerce, energy and capital markets. , head of audit, noted in the announcement that regulatory developments such as the corporate sustainability reporting directive (CSRD) were pushing demand for assurance services.

Merkel emphasised the firm’s focus on integrating technology into audit processes, with a commitment to leveraging artificial intelligence to deliver efficient, high-quality audits. KPMG Luxembourg invested over 10,000 training hours in environmental, social and governance assurance expertise, with 327 professionals completing an intensive three-day ESG Assurance Programme. Merkel stated the investments were aimed at enhancing real-time, data-driven audits to help clients make informed decisions and meet regulatory demands.

Tax services

The tax practice reported a 15% growth as demand for advisory services increased in response to a fast-evolving regulatory environment. With clients facing challenges related to cross-border taxation, data risks and compliance requirements, KPMG provided critical guidance on navigating these complexities.

, head of tax, highlighted the firm’s strategic investment in talent, which he credited as instrumental in achieving growth. Badot also noted KPMG Luxembourg’s recognition as the sole Tier 1 firm for tax services in the International Tax Review, reinforcing its reputation for high-quality advisory work.

Advisory services

KPMG’s advisory division focused on major post-merger integrations and enhancing clients’ operational capabilities in 2024. Partner and head of consulting, , emphasised the firm’s role in guiding businesses through economic uncertainty and regulatory changes. By investing in digital innovation, strengthening control frameworks and fostering partnerships with software providers, KPMG aimed to create sustainable value for its clients.

KPMG Luxembourg employed 1,890 staff across the grand duchy at the end of September 2024.

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