Annual Report 2022/23
Scaling sustainable growth
Message from the CEO
In the financial year ending 30 June 2023, PwC Switzerland generated a gross revenue of 1,109 million CHF. We can look back at a very successful year. We recorded gross revenue growth of over 16%* across all our Lines of Service and industry groupings. All our Lines of Service were able to increase their revenue in the last year: Advisory increased its gross revenue by 30%**, followed by Assurance (+10%**) and Tax and Legal Services (+6%*).
Our gross revenue has been realised by our Swiss-based workforce plus our foreign-based workforce as part of our shared delivery centers (SDC) and our alternative delivery models (ADM), as well as by subcontracted PwC network member firms. Our ADM capacity is growing disproportionally fast in order to meet the demand of our clients.
On behalf of the entire management and operating board, I’d like to thank our clients for sustainably growing with us, and of course thanks also go to all our employees, who have done an outstanding job.
* Excluding divested business
** The prior-year figures have been adjusted owing to the organisational reclassification of a business unit from Assurance to Advisory
Revenues
Grown sustainably
PwC Switzerland was able to increase its gross fee revenue by 16% to 1,109 million CHF.
Gross fee revenues by Line of Service
in CHF million
* The prior-year figures have been adjusted owing to the organisational reclassification of a business unit from Assurance to Advisory.
Net revenue by Line of Service*
in CHF million
* Net revenue includes SDC hours. However, the large volume of ADM hours in Advisory is not included in net revenue (only in gross revenue).
** The prior-year figures have been adjusted owing to the organisational reclassification of a business unit from Assurance to Advisory.
Gross fee revenues by industry group
in CHF million
* The prior-year figures have been adjusted owing to the organisational reclassification of a business unit from Assurance to Advisory.
People
Over 3,864 people in 15 locations
We continue to provide specific local knowledge and broad experience and expertise, with 15 offices throughout Switzerland and the Principality of Liechtenstein, and a diverse workforce made up of 91 nationalities. As technology transforms every aspect of our lives, we’re focusing on upskilling our people for the digital world of tomorrow so that they can develop and serve the constantly evolving needs of our clients.
Our foreign-based workforce is growing fast to enable us to tap into a much bigger talent pool to provide our services to our clients in Switzerland. These SDCs and ADMs are predominantly based in India, Portugal, the Philippines and Poland. This is a strategic move to cover specific client needs and overcome the skills shortage in Switzerland.
For more details of how we support diversity and inclusion, visit our Inclusion and Diversity website.
/ 17%
%
%
Without interns and hourly workers
Awards
Purpose
Creating trust in society and solving important problems
It’s our stated aim to build trust and help solve the biggest problems facing our world. That means we want to boldly lead by example. This is why we are stepping up our commitment to the environment and to wider society, including NGOs as well as social enterprises and micro-enterprises. We make every effort to continuously develop the skills base of our employees to ensure they can bring about positive change in an environment of rapidly-evolving challenges and technological progress.
Commitment to the environment
PwC has made a worldwide science-based commitment to achieve net zero greenhouse gas (GHG) emissions by 2030. Our near-term targets have been validated by the Science Based Targets initiative, and include commitments to reduce our scope 1 and 2 emissions and our business travel emissions by 50% in absolute terms by 2030 (from a 2019 base). This builds on our previous obligations to cover 100% of our power consumption using renewable electricity sources (RE100 from financial year 2022 onwards), which we already achieved in financial year 2021. In 2019, we introduced a new garbage and recycling system in our offices which allows us to keep the use of plastics to a minimum. We calculate, manage and monitor our carbon footprint every year.
To mitigate our impacts today, we are offsetting our emissions through high-quality carbon credits, transitioning to 100% carbon removals by 2030. Therefore, we signed a contract with the Swiss technology company Climeworks to remove thousands of tons of CO2 from the atmosphere by 2030 on our behalf. We will also engage with key suppliers and support our clients to decarbonise and transition to a net zero future.
GHG (greenhouse gas) emissions in tCO2e
| Emissions | FY19 (baseline) |
FY20 | FY21 | FY22 | FY23 |
| Direct emissions* | 309 | 280 | 234 | 203 | 261 |
| Indirect emissions** | 1,312 | 322 | 293 | 290 | 285 |
| Other indirect emissions*** | 12,336 | 8,449 | 957 | 3,305 | 4,768 |
| Total (market based) | 13,957 | 9,050 | 1,484 | 3,799 | 5,314 |
| Indirect emissions (location based)** | 496 | 433 | 517 | 503 | 383 |
* Direct GHG emissions according to GHG protocol Scope 1: owned or controlled by the firm, for example, emissions from combustion in owned or controlled boilers, furnaces, vehicles, etc.
** GHG emissions according to GHG protocol Scope 2: purchased heat and electricity
*** GHG emissions according to GHG protocol Scope 3: air travel, commuting, overnight stays, road, train and taxi. We are currently exploring further relevant Scope 3 emissions categories.
Commitment to society
Our corporate responsibility programmes and partnerships are an opportunity for us to give back to society. By offering free or discounted audit and consulting services for organisations and running corporate volunteering initiatives we share PwC’s greatest assets – the skills, knowledge as well as the experience of the employees – and help create communities where people and businesses can thrive. We support these activities with donations, including disaster response contributions.
Number of beneficiaries* reached
* The number of individuals reached, either directly or indirectly, through PwC community investment activity related to education/building skills.
Number of participants in community activities
Total volunteering hours (general and skilled)
Cash and 'in kind'* donations (in CHF)
* Non-cash contributions like equipment, property, usage of facilities and meeting space, and other.
Upskilling
We’ve successfully completed a huge part of our digital transformation, but it’s not over yet. We still focus on forward-looking sustainable investments in technology, and focus on providing training for our employees as well as wider society. Digital upskilling to leverage the full potential of GenAI for the benefits of our people and our clients is a strategic priority in particular.
in FY2023
in FY2023
Organisation
To live up to our purpose of building trust, we ourselves have to be trusted by our stakeholders, the markets, and the communities in which we operate. A big part of trust is being transparent about how our firm is organised and governed, about the people who have responsibility for our organisation, and about the high standards that all our people are expected to observe.
Management Board 2022/23 PwC Group Switzerland
At the end of the financial year 2022/23, the Management Board of PwC Group Switzerland comprised:
Andreas Staubli
CEO
Alex Astolfi
Leader Assurance
Dieter Wirth
Leader Tax & Legal Services
Gustav Baldinger
Leader Advisory
Julie Fitzgerald
Leader Growth & Markets
Norbert Kühnis
Leader Family Business & SMEs
Board of Directors PricewaterhouseCoopers AG
At the end of the financial year 2022/23, the Board of Directors of PricewaterhouseCoopers AG comprised:
Sebastian di Paola
Chairman
Andreas Staubli
Delegate
Alex Astolfi
Member
Heinz Hartmann
Member
Daniel Ketterer
Member
Operating Board 2022/23 PricewaterhouseCoopers AG
At the end of the financial year 2022/23, the Operating Board of PricewaterhouseCoopers AG comprised:
Andreas Staubli
CEO
Alex Astolfi
Leader Assurance
Dieter Wirth
Leader Tax & Legal Services
Gustav Baldinger
Leader Advisory
Julie Fitzgerald
Leader Growth & Markets
Heinz Hartmann
COO/CFO
Daniel Ketterer
Leader Quality & Regulatory Affairs
Download the PDF
Facts & figures 2022/23
Transparency Report 2023
Contact us
Stéphanie Tobler Mucznik
Head of Corporate Communications, PwC Switzerland
Tel: +41 58 792 18 16