Simon-Kucher & Partners (SKP) has experienced a record year in 2010. The consulting firm boosted its revenue by 19% to €105.4 million (approximately £90.4 million), thereby for the first time in its 25-year history breaking through the psychological barrier of €100 million.
The improved revenue is the result of strong demand for its services and geographic expansion. Over the course of 2010, four new offices were opened in Beijing, Copenhagen, Singapore and Sydney, bringing SKP’s total footprint to 23 offices in 17 countries. Currently over 40% of the German consultancy’s revenue is achieved in foreign offices.
''As nearly every year, our 2010 results were above the industry average. After 25 years of business, we are at the same level as The Boston Consulting Group was 25 years ago. That’s a positive sign,'' say co-CEOs Klaus Hilleke and Georg Tacke. The total number of employees grew to roughly 500, 14% higher than the previous year.
Also the British office of Simon-Kucher & Partners, based in London, enjoyed an impressive growth. The UK office saw a revenue growth of 57% supported by a 23% growth in staff across divisions. Approximately two-thirds of the growth came from the sectors life sciences, telecommunications, banking, logistics and professional services. Mark Billige, Managing Partner of SKP in the UK, expects this upward climb to continue. “We expect the growth to continue across all industries we serve, with renewed focus on Banking, Business Services and Leisure sectors.”
In light of the high backlog and the high order entry level, SKP has announced a positive outlook for the coming years. By the end of 2011, global revenue is expected to climb another 15% to over €120 million. “We have our eyes on hitting the €200 million mark by 2015,” say co-CEOs Hilleke and Tacke.