PROJECT BUSINESS DRIVES GROWTH AT RÖDL & PARTNER / SUBSTANTIAL INCREASE IN M&A-ADVISORY WORLDWIDE

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1 Press Release PROJECT BUSINESS DRIVES GROWTH AT RÖDL & PARTNER / SUBSTANTIAL INCREASE IN M&A-ADVISORY WORLDWIDE» Total turnover increases by almost 5% to million euros» Profitable growth in all business areas» Number of staff rises to 3,200 plans to take on 200 further staff Nuremberg/Frankfurt, : Rödl & Partner continues to grow successfully. In the financial year of 2011 ( ) turnover increased worldwide by 4.8% to million euros. The number of staff increased from 3,050 to a total of 3,200. The multi-disciplinary professional services firm thereby confirmed its leading global position as a provider of audit, accounting, tax, legal and business consulting services for German businesses. Study: German economy grows through company acquisitions at home and abroad A growth driver here is the provision of support for German companies with strategic company acquisitions. According to a study presented today by Rödl & Partner, companies are exploiting the financial crisis to expand inside and outside Germany to strengthen their presence in important growth regions, to open up new markets and to increase competitiveness. The study indicates that, despite difficult financial conditions for M&A transactions, the partly negative development of the economic conditions and inflated market prices, this trend is set to continue. Important sectors for acquisitions are mechanical engineering, plant construction, services, automotive and energy. "We benefit from the dynamic development of German companies. In spite of the current crisis environment we have successfully managed to grow", explains CEO Christian Rödl. "Our key driving force behind the success is the international project business. In this area we are able to fully exploit our strengths of multi-disciplinary services and cross-border consulting. Yet also in consulting and auditing our entrepreneurial approach gives us a clear competitive edge. This enables us to increase our market share in all important business areas." Legal services increase by 7.5%, strong growth with M&A and real estate In the area of legal services the orientation of Rödl & Partner as a multi-disciplinary law firm pays dividends. Consulting services have developed successfully for M&A, company succession, compliance, real estate transactions, financing, rationalisation, restructuring and renewable energy. As well as specialists being in demand, experienced legal attorneys and tax consultants are also increasingly in demand as general advisors. The trend is towards small, dynamic consulting teams. "As well as looking for specialists, family-owned companies are also looking for legal and tax experts who can take on a co-pilot role. These experts give comprehensive advice to the entrepreneur or CEO. The times are over when a host of novices would advise on transactions. This is confirmed by our strategic decision to Page 1

2 provide lean teams with international experienced legal attorneys who speak the same language as entrepreneurs", explains Christian Rödl. Audit services: strategic positioning for family-owned companies successful In the area of auditing Rödl & Partner was able to further increase business at a high level with growth of 3.6%. The consistent orientation towards the requirements of German companies with international operations, mainly dominated by family-owned companies, is proving a success. In addition to annual audits, audit-related consulting such as due diligence in the context of transaction consulting has enjoyed excellent growth. "Our target is to offer our clients additional added value. We not only audit the company but also, as a trusted confidant of the entrepreneur or CEO and someone familiar with the internal company processes, provide valuable additional services such as compliance, IT, strategy, risk management and reporting", emphasises Managing Partner Martin Wambach. In view of the reform proposals of the European commission on the subject of auditing Rödl & Partner is seeking to move the focus to the interests of companies not oriented to the capital market. "The discussion should not be limited to (very) large companies of public interest such as banks, insurance companies and groups listed on the DAX. More bureaucracy and prohibition of consulting activities which do not conflict with the ban on self-auditing represent a risk to the German Mittelstand, criticises Wambach. "Companies require their auditor to be a sparring partner who, due to a deep knowledge of the company, can also provide consulting services. The audit profession must move on from the checklist mentality. More self-assurance would do auditors on mainland Europe with a continental outlook good as our services are more in demand than ever before." Leading position in the public sector expanded Consulting services for the public sector remain a key factor for growth. Rödl & Partner is the market leader in Germany for the provision of professional services for decision-makers in local authorities in the areas of law, tax, auditing and finance. For towns and local authorities in the whole of Germany, Rödl & Partner provides consulting services in the areas of budget reorganisation, strategic control, debt management, process improvement in financial accounting and real estate. In addition, there is the strong industrial focus on energy, transportation, water and health and welfare. "Wherever towns and local authorities have to make entrepreneurial decisions we are in a good position to harness our expertise", emphasises Martin Wambach. "We will continue to strengthen our activities in this area and further expand our expert teams in Cologne, Nuremberg, Hamburg and Stuttgart." Takeover of cloudgermany.de: Rödl & Partner establishes cloud infrastructure The takeover of cloudgermany.de in the area of IT consulting makes Rödl & Partner one of the first German consulting and audit firms to create an independent and competitive cloud infrastructure in Germany. The core element of cloud computing and outsourcing consulting is integrated strategic, legal and commercial support for family-owned companies from the decision of "whether" and "how" to set up a cloud or outsourcing solution up to and Page 2

3 including a legal and data security concept. "Our strategy touches a nerve of the Mittelstand companies", emphasises Martin Wambach. "We are building on our own IT infrastructure in Germany and can offer clients the maximum legal security." Positive development in Central and Eastern Europe, Asia, Western Europe and US In spite of the continued economic and financial crisis in many countries Rödl & Partner recorded strong growth in its international business. In Asia turnover grew strongly, development in China was particularly strong. In the central and eastern European countries (CEEC) growth in Russia excelled. In Italy Rödl & Partner remains on course for growth especially due to its strong M&A business and successful positioning in the area of renewable energy. The location strategy, now with 4 Italian offices, has paid off. As the automotive industry in Latin America has expanded, Rödl & Partner has also benefited from its new locations in Mexico. In US the winning of new Mittelstand clients allowed Rödl & Partner to maintain last year's level despite a breakdown of the real estate business. Rödl & Partner will continue to pursue its strategy of international expansion. In the fall a new office will be opened in New York. Shortly offices will also be opened in the former CIS states Uzbekistan and Azerbaijan. After the successful establishment of our presence in South Africa, the setting up of further offices in other African states is being investigated. "The German economy is enjoying a successful development due to its international expansion. Growth in Germany is based on entrepreneurial commitment and the vision of family-owned companies", emphasises Christian Rödl. "We can give these companies comprehensive support worldwide and establish our own offices wherever German industry invests. Our business model to offer multi-disciplinary and cross-border consulting and auditing services to German companies with our own offices and staff outside Germany is unique in this combination." Excellent prospects 200 new staff planned In the current year, given the dynamic development in the project business, Rödl & Partner also expects considerable growth. The company is continually looking for legal attorneys, tax consultants, business consultants and auditors. The number of staff worldwide is set to rise by 200 new colleagues. "Also in this year we will enjoy substantial growth", emphasises Martin Wambach. "This is true for our key locations in Germany and also for our offices abroad. Applicants are attracted to our multi-disciplinary and international position. In addition, we continue to be open to take on board complete teams which fit in with our structure." In June at the international management conference Rödl & Partner will appoint 22 new partners, thereby raising their number worldwide to 157. A clear signal for sustainable growth. Page 3

4 Press contact: Matthias Struwe, Press officer Tel.: +49 (0) , Contact partner: Thorsten Widow, Head of Corporate Communications Tel.: +49 (0) , Photos of the annual press conference Photos of your contacts and of the annual conference can be downloaded from the Rödl & Partner press centre online at About Rödl & Partner Rödl & Partner is active at 87 wholly-owned locations in 39 countries. The integrated firm for audit, legal, management and tax consulting owes its dynamic success to over three thousand entrepreneurial colleagues. In close collaboration with our clients we develop information for well-founded economic, tax, legal and IT decisions that we implement together both nationally and internationally. What sets us apart Rödl & Partner is not a collection of accountants, auditors, lawyers, management and tax consultants working in parallel. We work together, closely interlinked across all service lines. We think from the client s perspective, bringing together a project team that possesses all the capabilities to be successful and to realize the client s goals. Our multidisciplinary approach is not unique, nor is our global reach or our traditional strong presence among family businesses. It is the combination that cannot be found anywhere else a firm that is devoted to comprehensively supporting foreign direct investment anywhere in the world. More information on Rödl & Partner is available at Page 4

5 Figures 2010/2011 at a glance Fees ( million) Total fee income % Fee income Germany % Fee income outside Germany % Development of services areas (million euros) Service area Legal Germany Growth in Germany 7.51% Legal worldwide worldwide 5.65% Legal services share of turnover 25.04% 35.23% 35.52% Tax Germany in Germany 3.39% Tax worldwide worldwide 4.25% Tax services share of turnover 30.03% 25.29% 25.16% Business and IT consulting Germany in Germany 4.55% Business and IT consulting worldwide worldwide 8.83% Busines / IT share of turnover 9.93% 8.36% 8.69% Audit Germany in Germany 3.57% Audit worldwide worldwide 3.15% Audit share of turnover 35.00% 31.12% 30.64% Total fee income Page 5

6 Staff Staff worldwide Staff Germany Staff outside Germany % % % Certified Professionals* Total Professionals (adjusted) Professionals Germany (adjusted) Professionals outside Germany (adjusted) Attorneys at Law (total) Attorneys at Law (Germany) Attorneys at Law (outside Germany) Certified Tax Advisors (total) Certified Tax Advisors (Germany) Certified Tax Advisors (outside Germany) Senior Business Consultants (total) Senior Business Consultants (Germany) Senior Business Consultants (outside Germany) Certified Public Accountants (total) Certified Public Accountants (Germany) Certified Public Accountants (outside Germany) * Please note that the named professionals belong to the staff of companies of the Rödl & Partner group, but do not belong to a particular company. The total number of professionals has been adjusted to take into account multi-skills. As a result, the total number does not correspond to the total number of professionals in the individual professional categories. Page 6

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