KPMG continues double-digit growth

2021 shows another strong result for KPMG in Denmark reaching total revenue growth of 10% across Audit, Advisory and Tax.

2021 shows another strong result for KPMG in Denmark reaching total revenue growth of 10%.

For the eight consecutive year, KPMG in Denmark has delivered strong double-digit growth of 10% across Audit, Advisory and Tax. We thus increased our overall revenues from 1,010 million DKK in 2020 to 1,112 million DKK in 2021. The growth was present across all business areas with Audit accounting for 10%, Advisory 5% and Tax 18%, and with that we are very proud that KPMG is still among the professional services companies in Denmark with the highest growth rates.

A message from our CEO & Senior Partner

I see KPMG as a speedboat next to supertankers. We are a smaller, agile and flat organisation that empowers our people with what I like to call “liberating leadership”. The proximity between leaders and employees ensures that we can truly work closer together – for better. Similarly, we strive to be close to our clients, to be able to carry out our purpose to inspire confidence and empower change.

Reflecting on the year

Apart from growing in revenue, we have also invested in our people, and we are constantly on the look-out for new talents: business-oriented consultants with a digital edge and tech-savvy auditors. Since August 2021, we have welcomed and onboarded more than 200 people. 81 of those are graduates and trainees, while 120 consist of experienced hires across Advisory and Audit.

To ensure that we can take our growth to the next level, we have also doubled the size of our leadership team in FY21. A financially sound organisation with outstanding employees is the foundation for KPMG’s onwards journey. We are a strong branded house – but also a house full of brands, competencies and services that each cater to different market segments.

In 2021, KPMG jumped 19 places up the list of Berlingske’s Image Analysis, a sign that the market has a positive perception of our leadership, trustworthiness, financial performance and quality. These are all qualities that are at the core of KPMG, and we will continue to work on maintaining and improving our image and performance in the market.

After a FY21 marked by a shift halfway through the year, both in terms of the pandemic situation improving considerably and me taking over as new Senior Partner and CEO, we have picked up our activity level at an even faster pace, which gives us a solid foundation going forward into FY22.

Before we embark on our new journey, we want to send a message to all of you great KPMG people: We acknowledge and are constantly amazed by all of the great efforts and value you bring every day. Without that we are nothing. It takes you to make KPMG.

Morten Mønster
CEO & Senior Partner
KPMG Denmark

Annual report 2021

Download PDF (13.4 MB) ⤓

Diversity and inclusion is part of our DNA

We continue our commitment to diversity and inclusion and have increased our focus on addressing and avoiding bias in recruitment through internal workshops and more inclusive job advertisements. Gender diversity is more important to us than ever, and we are proud to say that 1,414 of the 3,754 job applications we received in FY21 came from women.

Overall, 37% of our employees are female, and we continue to focus on gender equality and inclusion by setting new goals in order to secure a more equal gender balance in KPMG. We aim to have at least 40% women in our Board of Directors by the end of FY26, and for other management level, we aim at having at least 35% women, by FY30. We have taken specific action to further support the percentage of women across the Company and at all levels, and we have done so in four areas: recruitment, development, promotion and retention.

ESG is the watermark in everything we do

In FY22, we are investing in the further development of our ESG & Sustainability team, which will be led by partner Michael Birkebæk Jensen. The team will have cutting-edge and innovative understanding of the role that data, automation and new technologies play in the green transition. No matter which role our people have in the organisation, our ambition is to work with data-driven, fact-based insights and give recommendations that will leave a positive societal impact. One example is our involvement in the North Sea Wind Power Hub, a cross-European project that will essentially build up a grid of energy islands, like the ones Denmark is planning to build in the North Sea.

On the societal aspect, we are among other things sponsors for Copenhagen Pride, and we continue to be highly engaged in Mind Your Own Business, Velkommen Hjem, Team Rynkeby and Nordic Women in Tech. All are engagements that have lasted for several years. When it comes to governance, we have done important oversight work for Danske Bank as well as work for Erhvervsstyrelsen controlling COVID-19 relief payments. Combined with our year-long experience with tax consulting, financial reporting processes and expert knowledge of ESG and sustainability frameworks, we thus have great credentials to grow from.