CMS has announced its financial results for the year 2011 and has published its second Annual Review. Some highlights are:
- Total annual revenues of € 797.5 million - increase of over 3.9% on previous year's total of € 767.9 million.
- Profits distributable to equity partners up 8.2% on last year.
- Market presence extended with addition of Lisbon, Luxembourg and Tirana.
- Strong performance in energy, lifesciences, retail, financial services and TMT.
Cornelius Brandi, Executive Chairman of CMS, commented, "I am delighted to announce CMS' consolidated results which show that we have delivered a 3.9% increase in revenues in the face of extremely challenging market conditions."
All practice areas made a strong contribution, showing the benefits of a well-hedged business. From a sector perspective, activity in the lifesciences, energy, financial services and TMT sectors was particularly strong. Deal highlights included the € 9.6 billion takeover of Swiss based Nycomed A/S by Takeda, Japan's leading pharmaceutical company, the part-disposal in France of Saturn, the consumer electronics chain, by Metro Group and the two largest longevity swaps, circa € 5.8 billion by UK pensions schemes of Rolls Royce and ITV.
Other highlights of the year were the expansion of CMS to include Portugal and the opening of new offices in Luxembourg and Tirana. These moves extend CMS´ presence both in Europe and in Portuguese-speaking countries. CMS now operates in 52 offices worldwide including Rio de Janeiro, Moscow, Beijing, Shanghai, Casablanca and Algeria.
In 2011, CMS added 36 new partners, including 13 lateral hires, taking the total number to 750.
Brandi adds, "During 2011, we made over 130 multijurisdictional pitches, each involving an average of six countries. Our win rate of over 60% shows clearly how well-positioned we are to capitalise on client need for coordinated cross-border advice."
The CMS Annual Review 2011-2012 shows more relevant highlights of the past year across the whole of CMS. The review also gives insight into the deep industry knowledge, awards won by CMS, published reports and studies, and introduces the lawyers behind the success of CMS. You can access the Review here.
In case of any questions or if you would like to receive a printed copy of the CMS Annual Review, please contact us at [email protected].