Despite a tough market environment, BDO enjoyed positive growth in the 2024 financial year, increasing revenue by 4.6 percent to CHF 281.8 million. This result reflects our ability to overcome challenges, recognise opportunities - and grow with them. Our industry is evolving rapidly. New technologies and increasing compliance requirements demand that we adapt continuously and act with foresight. Our outstanding advisory expertise has enabled us to successfully support our clients as they navigate these developments. Digitalisation is transforming our industry at an unprecedented rate. In 2024, we made targeted investments in the development of AI-based tools with the aim of making processes more efficient and future-proofing our services for our clients. At the same time, we have enhanced our quality management, particularly in view of heightened data security and data protection requirements. Recruiting and retaining qualified professionals remains another key issue. To meet this challenge, we invest continuously in training and professional development, and cultivate a strong corporate culture based on collaboration, trust and our shared values.
BDO remains on a positive growth trajectory, generating revenue of CHF 281.8 million in 2024 - an increase of 4.6 percent on the prior year.
With revenue up 4.8 percent to CHF 95.9 million, Audit was able to further strengthen its market position and return a solid result in what remains a challenging economic environment. This growth can be attributed to our broad base and good reputation. In 2024, we continued to develop our quality management system, expanding it to meet increasing regulatory requirements as well as expectations around ethics and independence. We also put a particular focus on developing AI-supported tools that make our audit services even more effective and efficient. Demand for assurance services in the area of ESG is growing, although uncertainty regarding future regulations is dampening market momentum. The labour market has stabilised somewhat compared to prior years, but recruiting and retaining skilled professionals remains a challenge.
Revenue in Business Solutions rose by 7.5 percent to CHF 89.6 million in 2024. Ongoing challenges include the shortage of skilled workers, growing compliance requirements, international regulations and the mounting pressure to digitalise. In this context, we are integrating modern technologies into our processes in order to work more efficiently while maintaining our high quality standards. Aspects such as automation, data security and data protection play a central role in this. Digitalisation not only enables us to make our internal processes more efficient, but also offers our clients solutions that are fit for the future. To address the shortage of skilled workers, we invest continuously in our training and professional development programmes. This allows us to offer our people the best possible support and retain them in the long term.
Year-on-year revenue growth of 8.4 percent to CHF 35 million in Tax & Legal confirms that BDO is responding to clients’ needs, even in these challenging times. Implementation of the OECD minimum taxation in Switzerland, the partial revision of the VAT Act from 2025 and new pillar 3a tax planning options were key topics posing challenges for companies and private individuals. Our advisory services helped clients to navigate these changes and adjustments. Increased demand for in-depth tax and legal expertise has been a key factor driving our growth in these areas.
Following a strong prior year, revenue in Financial Services fell by 5.7 percent to CHF 19.4 million in 2024. This decline is mainly due to the fact that we were awarded fewer special engagements compared with the prior year. Despite this development, the multi-year revenue trend remains positive. For BDO Financial Services, 2024 was dominated by regulatory changes, technological innovation and targeted investment in the team and new expertise. The market environment remains volatile, influenced by economic, social and political developments, as well as consolidation of the more traditional business in the Swiss financial centre. At the same time, exciting new business cases and market entries are emerging.
(Real Estate, Abacus/IT, Deal Advisory, miscellaneous advisory services)
Further services saw stable development in the reporting year. Special mention should be made of the fact that BDO achieved platinum status for the first time as an official Abacus distribution partner. This is an important milestone that underscores our successful collaboration with strategic partners. Deal Advisory was impacted by cyclical market demand. It remains crucial to respond flexibly to changes and exploit market potential in a targeted manner.