STUTTGART (dpa-AFX) - The auditing and consulting firm EY experienced slight growth in Germany during the 2024/25 fiscal year. Revenue reached approximately 2.7 billion euros, representing a 2.3 percent increase over the previous year, EY announced in Stuttgart. The strongest-performing division was tax advisory, followed by consulting and auditing. EY's fiscal year runs from July to the end of June the following year. The company did not disclose profit figures.
Henrik Ahlers, Chairman of EY's Management Board in Germany, pointed to a challenging market environment, marked by weak economic performance and geopolitical risks. The company's business restructuring has already generated modest growth momentum. However, the continued separation from unprofitable business segments had a dampening effect.
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Revenue was also impacted by the fact that EY is prohibited from accepting new audit mandates from public interest entities in Germany until March 2026. This is due to sanctions imposed by the audit oversight authority in the wake of the Wirecard scandal. EY had for years certified the allegedly falsified accounts of the former DAX-listed company.
Looking ahead to the current fiscal year, Ahlers anticipated improved performance: "I am confident that we can increase our growth in the current fiscal year. And it is particularly encouraging that the Allianz Group has decided to propose EY as the new auditor for the 2027 fiscal year at the upcoming annual general meeting."/jwe/DP/nas
