Munich, November 5, 2024 - WTS, a global full-service provider of tax advisory and financial & deal advisory services, continues to grow and achieved record group revenue of € 241.9 million in the past financial year 2023/24. This corresponds to an increase of around 7% compared to the same period in the previous year.
The biggest growth driver last year was the Tax division, which was able to further expand its market penetration in almost all advisory fields. WTS now advises 95 percent of DAX40 companies and has also advanced to become an advisor to global market leaders with a medium-sized company focus.
“We have made significant gains in almost all tax services, from corporate tax, HR tax and tax CMS to business partnering. In particular, our advisory services in the areas in which we are already the market leader performed extremely well. These include Pillar Two, VAT including ViDA/eRechnung, Financial Services and advice on international projects and permanent establishments,” explains Fritz Esterer, CEO of the WTS Group.
The past year was also characterized by the expansion of digital services and the AI initiative. The plAIground was successfully launched on the market and has since been used by all WTS employees and numerous clients. The AI platform combines quality-assured tax expertise with the power of advanced generative language models for the first time.
“The demand for our AI platform is enormous. In many discussions, it became clear that although AI is at the top of the agenda, getting started is often seen as too complex. With plAIground, together with our partner PSP Munich, we offer a solution that provides easy access to the world of AI while delivering first-class results,” explains Esterer.
The Digital division has also developed positively. The integration of automation solutions into tax disciplines is a key strategic focus of the WTS Group. WTS Advisory has also been able to hold its own in a difficult market.
Five titles at the European Tax Awards underline positive business development
The very pleasing development in the past financial year was impressively confirmed by winning a total of five titles at the European Tax Awards. On September 18, WTS was named “German Transfer Pricing Firm of the Year” at this year's ITR European Tax Awards in Germany, while the international tax practice WTS Global, which is represented in over 100 countries, won four further titles. In addition, Jürgen Scholz, WTS Board Member and Chairman of the Board of WTS Global, was honored as “Indirect Tax Practice Leader of the Year”.
The award-winning categories include:
- German Transfer Pricing of the Year
- European Indirect Tax Advisory Firm of the Year
- European Tax Technology Provider of the Year
- Africa Tax Firm of the Year
- Africa Transfer Pricing Firm of the Year
- Indirect Tax Practice Leader of the Year (Jürgen Scholz)
About WTS
WTS is a global full-service provider of tax advisory and financial & deal advisory services. With more than 1,600 experts in Germany and one of the most advanced digital units worldwide, WTS develops innovative and integrated solutions to help tax and finance functions navigate safely through increasing regulatory challenges and support digital transformation.
The consulting services offered by WTS are represented by the three business units Tax, Advisory and Digital. WTS deliberately refrains from carrying out annual audits and is therefore an independent and long-term partner.
WTS is represented at 14 locations in Germany and in more than 100 countries worldwide.
Further information: wts.com/en
Press contact WTS
Florian Kestler
Friedenstrasse 22
81671 Munich
Phone: +49 (0) 162 2444833
florian.kestler@wts.de
