PwC Luxembourg Annual Review 2025

Leading transformation for long-term impact
5% growth for the fiscal year ending 30 June 2025, with a turnover of €765.5m, 
PwC Luxembourg’s first voluntary application of the European Sustainability Reporting Standards (ESRS) under the CSRD;
Workforce totals 3,665 headcount as of 30 June 2025

PwC is proud to announce that the Firm was able to grow the business overall over the past fiscal year from 1 July 2024 to 30 June 2025 by 5% to reach a total turnover of €765.5m. This was achieved while improving the operating model and investing in advanced technological and innovative capacities, particularly where Artificial Intelligence is concerned, to meet clients' needs and help them transform themselves for strategic advantage.

François Mousel, Managing Partner from PwC Luxembourg said: “PwC remains the leading Big Four in Luxembourg both in size and revenue. While the year ending on 30 June 2025 was not without its challenges, macroeconomic as well as geopolitical, it was a successful year for our Firm marked by many solid achievements and enormous transformation so that we can serve our clients better. FY2025 turnover as disclosed in our report is €765.5M, +5% growth.

Across our lines of service, which saw varied degrees of growth, Assurance did very well, driven by Audit and Broader Assurance Services, plus major ESG and sustainability assignments. Advisory’s success was highlighted by resilience in technology, AI, and industry sectors, with a main highlight being our recognition as 2025 Microsoft Country Partner of the Year for Luxembourg. Tax’s turnover was boosted by new measures to support Luxembourg’s financial sector and continued investment in innovative, tech-enabled managed services solutions. You can find full details in our business highlights here.

We said in 2024 that 2025 would be a more challenging year and the sentiment remains the same for 2026. However, on a long-term basis we remain optimistic, considering the investment in time and money we have put into our transformation, and with the caveat that Luxembourg can stay focused and improve on its competitiveness. We will continue to heavily invest in our business and our people, so we can remain resilient against short-term market volatilities, or the next disruption down the line.

I would once again like to thank our clients for the continued trust they put in our services and in our Firm. And I would like to specifically thank all the Partners and all our People for all the efforts provided. Villmools merci!”

Read the full message from our Managing Partner online, discover our business results and full sustainability report.

Notes to editors

About PwC

PwC Luxembourg (www.pwc.lu) is the largest professional services firm in Luxembourg with over 3,600 people employed from 90 different countries. PwC Luxembourg provides audit, tax and advisory services including management consulting, transaction, financing, and regulatory advice. The firm provides advice to a wide variety of clients from local and middle market entrepreneurs to large multinational companies operating from Luxembourg and the Greater Region. The firm supports its clients in creating the value they are looking for by contributing to the smooth operation of the capital markets and providing advice through an industry-focused approach.

At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We’re a tech-forward, people-empowered network with more than 364,000 people in 136 countries and 137 territories. Across audit and assurance, tax and legal, deals and consulting, we help clients build, accelerate, and sustain momentum. Find out more at www.pwc.com and www.pwc.lu.