Bonn: German consultancy Simon-Kucher & Partners has delivered record results for the year 2014. The firm's revenue grew 13.5 percent reaching 172 million euros. Sales have nearly doubled since the financial crisis in 2009.
Co-CEOs Klaus Hilleke and Georg Tacke commented, "We reached all of our 2014 targets, and in some segments we even over-performed. Not all industry players can claim such great results."
The firm says the most important growth drivers in the past year were the banking, health and consumer goods/retail industries. The revenue increase in these industries was significantly higher than the overall result. "Business in our domestic European market, seen by many experts as saturated and plagued by weak growth, was very successful," said Hilleke.
International Board drives growth
In 2014, Simon-Kucher opened an office in Barcelona. Together with the Madrid office, the firm now has a strong foothold in the Spanish market. "We see that the local market is gaining momentum. Furthermore, Spain has close economic relations to Latin America, also an important market for us," said Hilleke.
Simon-Kucher established an international Board at the beginning of 2015. It will develop the firm's global corporate strategy and oversees operational implementation. In addition to the two co-CEOs, Georg Tacke and Klaus Hilleke, the Board consists of seven partners from four countries: Kai Bandilla (France), Andreas von der Gathen, Rainer Meckes, Dirk Schmidt-Gallas (Germany), Joerg Kruetten (Luxembourg), Juan Rivera and Matt Johnson (USA).
The firm's headcount grew significantly in 2014. Currently, Simon-Kucher has 760 employees worldwide, 70 more than at the start of the year. Furthermore, eight new partners were elected in January 2015, three of whom are women, the firms now has a total of 73 partners now drives business forward.
30-year anniversary in 2015
This year Simon-Kucher celebrates its 30th anniversary. Its first office was opened in 1985. Back then, it says, the goal was to help organizations achieve sustainable profit growth — namely through optimized pricing and revenue growth rather than through cost reductions. Since then, the basic approach hasn't changed. Simon-Kucher has become an established specialist for growth strategies, pricing, sales and marketing. In pricing, Simon-Kucher is regarded as the world market leader.
The firm has ambitious targets for its anniversary year. "We want to break the 200-million euro mark," says Tacke. To achieve this, the global team of consultants will be significantly increased. In the course of the year, 200 new employees will be hired — approximately 120 outside of Germany. International expansion will also be a focus. Just recently an office in Atlanta (USA) was opened. Simon-Kucher is now represented with 29 offices in 22 countries. Towards the end of the year, the firm is planning on opening an office in Stockholm.