Pakin

g Acc

ess

Auchan Utopolis

Avenue J

ohn F. K

enned

y

Rue Jea

n Monnet

Rue Alphonse Weicker

Boulevard Konrad Adenauer

www.kpmg.lu

Investments pay off

Press conference

26 January 2015

kpmg.lu/pressconf2015/KPMG Luxembourg, Société coopérative

39, Avenue John F. KennedyL-1855 Luxembourg

Tel: +352 22 51 51 1

© 2015 KPMG Luxembourg, Société coopérative, a Luxembourg entity 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. Printed in Luxembourg

Investments pay off in 2014, says KPMG Luxembourg

KPMG Luxembourg has announced today that its focus on strategic investments designed to anticipate client needs paid off in 2014. The firm delivered strong growth of 11% and has renewed its commitment to pursuing a strategy of investing heavily in people, technology and Luxembourg. KPMG Managing Partner Georges Bock explains:

“Two years ago, we made a commitment to transform the way our business works, to stay ahead of the game and outclass competitors. Fulfilling this promise involved a range of investments aimed at directly addressing megatrends identified as crucial for our clients’ businesses. The results we’re announcing today prove that our investment choices – namely people and expertise; technology; and Luxembourg - were right on target. The time, energy and capital spent in these areas have borne fruit and we’re proud to say that 2014 has been a successful year.”

Investments in People

Head of People, Thomas Feld, expands on how the demands of a fast-paced world had brought about investments in people.

“This is a period of unprecedented change, which calls for new skillsets and further flexibility. We have seen ourselves welcoming different profiles into the KPMG fold. However, our investments go beyond new hires. We are committed to keeping the best, so have developed a people strategy aimed at rewarding high performance and developing talent. This is key to delivering the quality our clients expect.”

Investments in Technology

Head of Advisory, Pascal Denis, explains which investments in technology had played a significant role in the company’s growth:

“With business models becoming digital and operating models coming under additional cost pressure, business transformation and outsourcing are fast becoming a new norm for our clients. The technology lines we have invested in Investments in data and analytics are core to the way we deliver expertise on an industrial scale. We architect best in class IT solutions and our clients are now reaping the benefits.”

Investments in Luxembourg

The firm also chose Luxembourg as a main target for investment, participating in a multitude of industry working groups and becoming involved in roadshows and conferences promoting the Grand Duchy. Head of Tax, Sebastien Labbé, commented on the importance of this investment:

“There are a lot of misconceptions out there about Luxembourg and particularly about the reasons behind its success. The conferences and roadshows, especially, give us an opportunity to promote a better understanding of the main draw for companies coming to Luxembourg: namely the number of interwoven and complementary fields of finance in which Luxembourg has built up high levels of expertise. This makes it a perfect one-stop-finance-shop. We’re proud of this and of KPMG playing a role in building Luxembourg’s future.”

Our New Headquarters

The finalization of our new headquarters located on Kirchberg also represents the three investments priorities - technology, people and Luxembourg – brought to life. Head of Audit, Emmanuel Dollé, is enthusiastic to have made the move:

“The main driver for constructing the new building was to finally bring our 1255 people under one roof and be closer to our clients. It’s a great feeling to have realized this dream, however I do think that we’ve succeeded in much more than our initial aim. We’ve put a lot of thought into the well-being of staff and making the office a unique place to be, as well as inspiring for our clients.”

1. Georges Bock, Managing Partner

2. Emmanuel Dollé, Head of Audit

3. Thomas Feld, Head of People

4. Sébastien Labbé, Head of Tax

5. Pascal Denis, Head of Advisory

1 2 3

4 5

“Do the right thing and you come to the right result. KPMG has achieved an 11% growth in 2014 and is looking to a positive future.”

Georges Bock, Managing Partner

Paking Access

AuchanUtopolis

Avenue John F. Kennedy

Rue Jean Monnet

Rue A

lpho

nse

Wei

cker

Boule

vard

Kon

rad

Adena

uer

www.kpmg.lu

Investments pay off

Press conference

26 January 2015

kpmg.lu/pressconf2015/ KPMG Luxembourg, Société coopérative

39, Avenue John F. KennedyL-1855 Luxembourg

Tel: +352 22 51 51 1

© 2015 KPMG Luxembourg, Société coopérative, a Luxembourg entity 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. Printed in Luxembourg

Investments pay off in 2014, says KPMG Luxembourg

KPMG Luxembourg has announced today that its focus on strategic investments designed to anticipate client needs paid off in 2014. The firm delivered strong growth of 11% and has renewed its commitment to pursuing a strategy of investing heavily in people, technology and Luxembourg. KPMG Managing Partner Georges Bock explains:

“Two years ago, we made a commitment to transform the way our business works, to stay ahead of the game and outclass competitors. Fulfilling this promise involved a range of investments aimed at directly addressing megatrends identified as crucial for our clients’ businesses. The results we’re announcing today prove that our investment choices – namely people and expertise; technology; and Luxembourg - were right on target. The time, energy and capital spent in these areas have borne fruit and we’re proud to say that 2014 has been a successful year.”

Investments in People

Head of People, Thomas Feld, expands on how the demands of a fast-paced world had brought about investments in people.

“This is a period of unprecedented change, which calls for new skillsets and further flexibility. We have seen ourselves welcoming different profiles into the KPMG fold. However, our investments go beyond new hires. We are committed to keeping the best, so have developed a people strategy aimed at rewarding high performance and developing talent. This is key to delivering the quality our clients expect.”

Investments in Technology

Head of Advisory, Pascal Denis, explains which investments in technology had played a significant role in the company’s growth:

“With business models becoming digital and operating models coming under additional cost pressure, business transformation and outsourcing are fast becoming a new norm for our clients. The technology lines we have invested in Investments in data and analytics are core to the way we deliver expertise on an industrial scale. We architect best in class IT solutions and our clients are now reaping the benefits.”

Investments in Luxembourg

The firm also chose Luxembourg as a main target for investment, participating in a multitude of industry working groups and becoming involved in roadshows and conferences promoting the Grand Duchy. Head of Tax, Sebastien Labbé, commented on the importance of this investment:

“There are a lot of misconceptions out there about Luxembourg and particularly about the reasons behind its success. The conferences and roadshows, especially, give us an opportunity to promote a better understanding of the main draw for companies coming to Luxembourg: namely the number of interwoven and complementary fields of finance in which Luxembourg has built up high levels of expertise. This makes it a perfect one-stop-finance-shop. We’re proud of this and of KPMG playing a role in building Luxembourg’s future.”

Our New Headquarters

The finalization of our new headquarters located on Kirchberg also represents the three investments priorities - technology, people and Luxembourg – brought to life. Head of Audit, Emmanuel Dollé, is enthusiastic to have made the move:

“The main driver for constructing the new building was to finally bring our 1255 people under one roof and be closer to our clients. It’s a great feeling to have realized this dream, however I do think that we’ve succeeded in much more than our initial aim. We’ve put a lot of thought into the well-being of staff and making the office a unique place to be, as well as inspiring for our clients.”

1. Georges Bock, Managing Partner

2. Emmanuel Dollé, Head of Audit

3. Thomas Feld, Head of People

4. Sébastien Labbé, Head of Tax

5. Pascal Denis, Head of Advisory

123

45

“Do the right thing and you come to the right result. KPMG has achieved an 11% growth in 2014 and is looking to a positive future.”

Georges Bock, Managing Partner

Pakin

g Acc

ess

Auchan Utopolis

Avenue J

ohn F. K

enned

y

Rue Jea

n Monnet

Rue Alphonse Weicker

Boulevard Konrad Adenauer

www.kpmg.lu

Investments pay off

Press conference

26 January 2015

kpmg.lu/pressconf2015/KPMG Luxembourg, Société coopérative

39, Avenue John F. KennedyL-1855 Luxembourg

Tel: +352 22 51 51 1

© 2015 KPMG Luxembourg, Société coopérative, a Luxembourg entity 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. Printed in Luxembourg

Investments pay off in 2014, says KPMG Luxembourg

KPMG Luxembourg has announced today that its focus on strategic investments designed to anticipate client needs paid off in 2014. The firm delivered strong growth of 11% and has renewed its commitment to pursuing a strategy of investing heavily in people, technology and Luxembourg. KPMG Managing Partner Georges Bock explains:

“Two years ago, we made a commitment to transform the way our business works, to stay ahead of the game and outclass competitors. Fulfilling this promise involved a range of investments aimed at directly addressing megatrends identified as crucial for our clients’ businesses. The results we’re announcing today prove that our investment choices – namely people and expertise; technology; and Luxembourg - were right on target. The time, energy and capital spent in these areas have borne fruit and we’re proud to say that 2014 has been a successful year.”

Investments in People

Head of People, Thomas Feld, expands on how the demands of a fast-paced world had brought about investments in people.

“This is a period of unprecedented change, which calls for new skillsets and further flexibility. We have seen ourselves welcoming different profiles into the KPMG fold. However, our investments go beyond new hires. We are committed to keeping the best, so have developed a people strategy aimed at rewarding high performance and developing talent. This is key to delivering the quality our clients expect.”

Investments in Technology

Head of Advisory, Pascal Denis, explains which investments in technology had played a significant role in the company’s growth:

“With business models becoming digital and operating models coming under additional cost pressure, business transformation and outsourcing are fast becoming a new norm for our clients. The technology lines we have invested in Investments in data and analytics are core to the way we deliver expertise on an industrial scale. We architect best in class IT solutions and our clients are now reaping the benefits.”

Investments in Luxembourg

The firm also chose Luxembourg as a main target for investment, participating in a multitude of industry working groups and becoming involved in roadshows and conferences promoting the Grand Duchy. Head of Tax, Sebastien Labbé, commented on the importance of this investment:

“There are a lot of misconceptions out there about Luxembourg and particularly about the reasons behind its success. The conferences and roadshows, especially, give us an opportunity to promote a better understanding of the main draw for companies coming to Luxembourg: namely the number of interwoven and complementary fields of finance in which Luxembourg has built up high levels of expertise. This makes it a perfect one-stop-finance-shop. We’re proud of this and of KPMG playing a role in building Luxembourg’s future.”

Our New Headquarters

The finalization of our new headquarters located on Kirchberg also represents the three investments priorities - technology, people and Luxembourg – brought to life. Head of Audit, Emmanuel Dollé, is enthusiastic to have made the move:

“The main driver for constructing the new building was to finally bring our 1255 people under one roof and be closer to our clients. It’s a great feeling to have realized this dream, however I do think that we’ve succeeded in much more than our initial aim. We’ve put a lot of thought into the well-being of staff and making the office a unique place to be, as well as inspiring for our clients.”

1. Georges Bock, Managing Partner

2. Emmanuel Dollé, Head of Audit

3. Thomas Feld, Head of People

4. Sébastien Labbé, Head of Tax

5. Pascal Denis, Head of Advisory

1 2 3

4 5

“Do the right thing and you come to the right result. KPMG has achieved an 11% growth in 2014 and is looking to a positive future.”

Georges Bock, Managing Partner

FACTS &

FIGURES

Business Performance and Outlook

1255

328

220Graduates

andTrainees

108Experienced

Newcomers

Employees

337

8Partners

10Directors

Promotions

€5.8m

10.413Total

workingdays

83.310Total hours

TrainingInvestment

*

**

Our People

1255

328

220Graduates

andTrainees

108Experienced

Newcomers

Employees

337

8Partners

10Directors

Promotions

€5.8m

10.413Total

workingdays

83.310Total hours

TrainingInvestment

*

**

1255

328

220Graduates

andTrainees

108Experienced

Newcomers

Employees

337

8Partners

10Directors

Promotions

€5.8m

10.413Total

workingdays

83.310Total hours

TrainingInvestment

*

**

1255

328

220Graduates

andTrainees

108Experienced

Newcomers

Employees

337

8Partners

10Directors

Promotions

€5.8m

10.413Total

workingdays

83.310Total hours

TrainingInvestment

*

**

**in 2013/14 fiscal year

*as at 30/09/2014 plus 6 October intake

Outlook Managing Partner Georges Bock

“We have seen that if you do the right thing, you come to the right results: our intention is to continue along this same road. Luxembourg and its reputation abroad will always be an integral part of our future and in 2015 we aim to cover even more miles to tell the real story about Luxembourg worldwide.

Digital Luxembourg is becoming a reality and our investments position us as a key player in the transformation from a traditional to a digital economy. 2015 will be the year that Fintech makes waves in the Grand Duchy. By teaming up with our clients to promote excellence and best practice on key trends like this, we can look to a bright future for both KPMG and Luxembourg.”

152.46

+10.8%

81.60

+16.4%

39.33

+0.6%

31.53

+11.2%

Net Revenues

Audit

Tax

Advisory

Total

Share of Revenue Change 2014 2013

53.5% 16.4% 81.60 70.13

25.8% 0.6% 39.33 39.09

20.7% 11.2% 31.53 28.35

100% 10.8% 152.46 137.57

EUR million

Audit Tax Advisory

EUR million EUR million

EUR million *

152.46

+10.8%

81.60

+16.4%

39.33

+0.6%

31.53

+11.2%

Net Revenues

Audit

Tax

Advisory

Total

Share of Revenue Change 2014 2013

53.5% 16.4% 81.60 70.13

25.8% 0.6% 39.33 39.09

20.7% 11.2% 31.53 28.35

100% 10.8% 152.46 137.57

EUR million

Audit Tax Advisory

EUR million EUR million

EUR million *

In a difficult, challenging and rapidly changing environment, our audit function has emerged with exceptional growth. An expending client base has increased revenues across the board, with an extra boost from an asset quality review of banks performed in the context of the European Central Bank supervision.

Such high levels of growth reflect the quality of our work and trust placed in the company, by both our clients and the communities with which we work.

In 2014, we have seen growth in all segments of our advisory business. In consulting, the unprecedented changes our clients are going through are driving the need for transformation. This ranges from the redefinition of business models, to the implementation of new regulations or definition of digital strategies.

In services, there is an increasing demand from our clients for our outsourcing services, whereby we take away the complexity of new regulations. Finally, in technology, our investments in data analytic capabilities help us solve the challenges of our clients.

Tax maintained its significant contribution to the firms’ revenues, with figures rising by 0.6% despite a challenging global context. In the present tax environment, our first priority is to have a model which is sustainable in the long-term. Our performance this year corresponds with this vision.

Quality and integrity are the building blocks of our strategy. We drive a common culture through a code of conduct and our tax principles, which set out the standards that our tax professionals follow in their work.

Pakin

g Acc

ess

Auchan Utopolis

Avenue J

ohn F. K

enned

y

Rue Jea

n Monnet

Rue Alphonse Weicker

Boulevard Konrad Adenauer

www.kpmg.lu

Investments pay off

Press conference

26 January 2015

kpmg.lu/pressconf2015/KPMG Luxembourg, Société coopérative

39, Avenue John F. KennedyL-1855 Luxembourg

Tel: +352 22 51 51 1

© 2015 KPMG Luxembourg, Société coopérative, a Luxembourg entity 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. Printed in Luxembourg

Investments pay off in 2014, says KPMG Luxembourg

KPMG Luxembourg has announced today that its focus on strategic investments designed to anticipate client needs paid off in 2014. The firm delivered strong growth of 11% and has renewed its commitment to pursuing a strategy of investing heavily in people, technology and Luxembourg. KPMG Managing Partner Georges Bock explains:

“Two years ago, we made a commitment to transform the way our business works, to stay ahead of the game and outclass competitors. Fulfilling this promise involved a range of investments aimed at directly addressing megatrends identified as crucial for our clients’ businesses. The results we’re announcing today prove that our investment choices – namely people and expertise; technology; and Luxembourg - were right on target. The time, energy and capital spent in these areas have borne fruit and we’re proud to say that 2014 has been a successful year.”

Investments in People

Head of People, Thomas Feld, expands on how the demands of a fast-paced world had brought about investments in people.

“This is a period of unprecedented change, which calls for new skillsets and further flexibility. We have seen ourselves welcoming different profiles into the KPMG fold. However, our investments go beyond new hires. We are committed to keeping the best, so have developed a people strategy aimed at rewarding high performance and developing talent. This is key to delivering the quality our clients expect.”

Investments in Technology

Head of Advisory, Pascal Denis, explains which investments in technology had played a significant role in the company’s growth:

“With business models becoming digital and operating models coming under additional cost pressure, business transformation and outsourcing are fast becoming a new norm for our clients. The technology lines we have invested in Investments in data and analytics are core to the way we deliver expertise on an industrial scale. We architect best in class IT solutions and our clients are now reaping the benefits.”

Investments in Luxembourg

The firm also chose Luxembourg as a main target for investment, participating in a multitude of industry working groups and becoming involved in roadshows and conferences promoting the Grand Duchy. Head of Tax, Sebastien Labbé, commented on the importance of this investment:

“There are a lot of misconceptions out there about Luxembourg and particularly about the reasons behind its success. The conferences and roadshows, especially, give us an opportunity to promote a better understanding of the main draw for companies coming to Luxembourg: namely the number of interwoven and complementary fields of finance in which Luxembourg has built up high levels of expertise. This makes it a perfect one-stop-finance-shop. We’re proud of this and of KPMG playing a role in building Luxembourg’s future.”

Our New Headquarters

The finalization of our new headquarters located on Kirchberg also represents the three investments priorities - technology, people and Luxembourg – brought to life. Head of Audit, Emmanuel Dollé, is enthusiastic to have made the move:

“The main driver for constructing the new building was to finally bring our 1255 people under one roof and be closer to our clients. It’s a great feeling to have realized this dream, however I do think that we’ve succeeded in much more than our initial aim. We’ve put a lot of thought into the well-being of staff and making the office a unique place to be, as well as inspiring for our clients.”

1. Georges Bock, Managing Partner

2. Emmanuel Dollé, Head of Audit

3. Thomas Feld, Head of People

4. Sébastien Labbé, Head of Tax

5. Pascal Denis, Head of Advisory

1 2 3

4 5

“Do the right thing and you come to the right result. KPMG has achieved an 11% growth in 2014 and is looking to a positive future.”

Georges Bock, Managing Partner